“Nationwide Open House Weekend” will be held this coming weekend, April 10 & 11. This event, initiated by executives at local and state Realtor® associations on the west coast, was created to promote open houses and is spreading east with the National Association of Realtors (NAR) spreading the word. (However, it is not a NAR sanctioned event.)

At Residential Properties Ltd., recognizing our open houses is quite simple, we place an “Open House” indicator on the top of our “For Sale” sign at the property. We also list those available for viewing during every weekend on our website at http://www.residentialproperties.com/openHouses/search/. Typically, this search page will start showing results on Thursday, and Friday or Saturday are the best days for the latest list of properties.

If you are searching for a home, the economists are saying that now may be the perfect time to act. All indications are that prices have begun to stabilize, median prices are statistically flat (with the normal choppiness when you look at month to month data), interest rates continue to be at historic lows, contracts needed to take advantage of the tax credits must be done by April 30, and the inventory of homes on the market is improving.

Of course, the properties can be viewed by arranging a private showing by calling one of our agents.

Residential Properties is throwing a First-Time Home Buyer Open House Extravaganza this Sunday, June 14th.

We will be showcasing a home for every lifestyle. These homes include everything from new construction to meticulously maintained homes with unique details.  The event will showcase Cape Cod Style houses, ranches, and a variety of styles of Colonials, priced between $50,000 and $450,000.

The Extravaganza covers Cumberland, Lincoln, North Smithfield, Central Falls, and Woonsocket. Come experience Northern Rhode Island’s charm! Our open house will be stocked with materials that will help to answer questions about the $8,000 tax credit and provide further resources.

View a list of our participating Open Houses.

CommunityWalk Map – Condo Open House Extravaganza!

CommunityWalk Map – Open House Extravaganza!

Good news! There has been a recent increase in sales activity throughout RI of homes being purchased by first time buyers!  First Time Home Buyers are a driving force in the recovery of our housing market.

The American Recovery and Reinvestment Act of 2009 has made up to $8000 tax credits available to qualified first time home buyers for homes purchased between January 1 – November 30, 2009. As long as the home buyers stay in the home for at least three years, they do not have to repay this credit.

To fully understand this tax credit and other programs available, we invited Ann Palmisciano, a Mortgage Originator and Elaine Hebert, Assistant Director of Alternative Lending, both from Rhode Island Housing to speak to our Cumberland office.  Rhode Island Housing offers incredible programs including low interest loans, grants, education, advocacy and consumer counseling to help consumers to prepare for a purchase and retain their homes.

Who qualifies as a first time home buyer?
If you have not owned a principal residence in the past three years, you can qualify.

This tax credit is not the only assistance available to buyers.
The new Neighborhood Stabilization Program provides funding that can be used toward Homebuyer Assistance.  Homebuyer Assistance may provide up to 20% of the purchase price up to a maximum of $40,000 in down payment assistance to income eligible home buyers purchasing qualified foreclosed properties in foreclosure-impacted neighborhoods.

In conjunction with our efforts to understand what is available for first time home buyers, our office is throwing an Open House Event on Sunday, June 14, 2009. We will be opening many of our listings priced for First Time Buyers! Our open houses will be stocked with materials that will help to answer questions and provide further resources.

Visit our website next Thursday to view the addresses and times of First Time Homebuyer Open Houses!

With the first signs of blooming forsythia, crocuses and daffodils, we will celebrate the end of a very long winter. Homeowners and brokers will be relieved that driveways and walkways will not need to be shoveled and plowed for showings and open houses. We will all be celebrating the spring season in hopes that buyers will embrace the opportunities out there for them to find the homes of their dreams.

Open Houses are a wonderful way to allow buyers the opportunity to freely explore properties on their own. In many cases, this is their first step before they find a broker to help them. Buyers are not only evaluating the homes, but they are searching for a broker that they feel a connection with. It’s the broker’s opportunity to present their listed home and to meet prospective buyers for the first time.

First impressions are everything with respect to the location, condition, features of the home as well as with broker’s presentation of the home and his or her ability to communicate with the buyers.

Think of an Open House as an invitation to a lovely event. Brokers and seller should create ambiance by playing soft music in the background, and by displaying fresh flowers, and a slide show of pictures of the property on a laptop. Brokers should provide color property fliers for buyers, and have some cookies or other refreshments.

The broker and seller’s first goal is for everyone who walks through that open door to remember how pleasant it was in that home. Creativity and elements of the unexpected will ensure that a listing will have a lasting impression on buyers.

Open Houses can be presented around a theme or holiday such as St. Patrick’s Day.

Click here to view upcoming open houses. Residential Properties open houses are typically held on weekends and are updated on the prior Thursday.