Realtors gear up for Open House Weekend

Prospective homebuyers will have their pick of the housing market’s litter as the Coeur d’Alene Association of Realtors — home to more than 1,800 members — hosts its annual Open House Weekend.

Starting Saturday and continuing through Sunday, up to 50 homes will be available for potential buyers to check out. The homes are in every price range, from modest single-family homes to grand estates with two commas in the price.

“Last year, we were really surprised at the grassroots response,” Coeur d’Alene Realtors Marketing Committee Chairwoman Lindsay Allen said. “We weren’t sure how it would turn out, so we ordered about 50 yard signs, expecting about 30 people. The people ended up outnumbering the yard signs. Hopefully, we’ll run out of yard signs this year.”

Saturday and Sunday marks a departure from every other weekend on the calendar. This weekend, no appointment is required for the 70-plus showings the event will encompass.

“[The Open House Weekend] gives people a lot more options this year,” Allen said. “Maybe people will pick one or two houses here and there, or maybe they’ll make a day of it.”

Loretta Hartman, a Realtor and owner of North Idaho Real Estate, said this weekend was a perfect opportunity for agents and buyers alike.

“We got a lot of response from this last year, and I’m expecting a big response this year,” Hartman said. “Right now, we have a lot of people in town, a lot of visitors. We’ve got a lot of people looking to buy from out of town.”

Hartman said the active housing market makes for a wild negotiating climate.

“It’s so busy for Realtors and our lenders,” she added. “I just called some lenders for a couple looking to buy their first property, and the lenders are so slammed. Everybody’s out there, looking to buy. This weekend makes it a perfect opportunity for people from out of state, out of town or just from around the corner to come out and look at their next home.”

Hartman said busy foot traffic during open houses can often lead to bidding wars, particularly on the most desirable properties.

These days, with more and more buyers coming from outside the market with cash, serious home shoppers should consider bringing along a pre-approval letter from their lender, complete with the dollar amount the lender has given the green light.

Some homes on display during the weekend will host activities for viewers. Some go so far as to provide snacks, cookies and other refreshments.

“We’re very excited,” Allen said. “It was fun last year, and I think it’ll be even better this year. We can’t wait.”

Information: www.cdarealtors.com