Open house weekend on Long Island

Bringing home buyers and sellers together

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Buying a home is more than just making a purchase — it’s one of the most important decisions in a person’s life. Owning a home can be a source of comfort, pride, security and stability. But deciding on a particular house involves myriad options and a weighing of priorities.

Forty-five percent of recent buyers used open houses as a way to increase their chances of finding their dream home, and buyers on Long Island and Queens will have the opportunity to do the same on Sept. 20-21, when the Long Island Board of Realtors will host thousands of open houses.

“This event is a great way for buyers to get an idea of what they can afford, and what kinds of homes are available in the local market,” said LIBOR President Bettie Meinel. “It’s also a chance for sellers to market their home and attract potential buyers.”

Mortgage rates on Long Island currently range from 3 to 5 percent — figures that are considered historically low. According to Trisha Chirco, a marketing and communication specialist with LIBOR and Multiple Listing Service Long Island, activity this year has been strong.

“The number of monthly transactions in the area on contracted sales is a good indication of how confident buyers are feeling,” Chirco said, “and [that suggests] that buyers are feeling good about buying their first home — or they’re trading up.”

Real estate inventory has remained constant, Chirco said, which suggests that the pace at which new homes come on the market is in line with the number of sales. “[I] haven’t seen any significant changes in recent months in the number of available properties on the Multiple Listing Service,” she said.

“Next to spring, fall is the busiest season for home buying and selling,” Meinel explained. “Autumn offers certain benefits to home buyers, including year-end tax breaks, pleasant weather conditions for moving, and a wide selection of homes for sale.”

How to prepare for an open house

Whether you are a buyer or a seller, being prepared for an open house event is crucial.
Here are some last-minute tips for sellers. Make sure all light bulbs, electrical panels and fixtures are operational and accessible, advises Kevin Leatherman, a broker and the owner of Coldwell Banker Surf in Rockville Centre. “And try to have as much natural sunlight coming into the house as possible. Clean the windows, and open them.” Also, he said, try to keep your pets somewhere else when people visit your house. 

Leatherman urges buyers to ask about any oil tanks that may be on the property, and to inquire about the age and condition of the roof. “And ask questions,” he said. “Don’t assume everything is operational.”