o What: Realtor Nationwide Open House sponsored by the Clark County Association of Realtors, which has 1,475 members. A tour of between 250 and 300 homes for sale throughout Clark County.
o When: 9 a.m. to 5 p.m. Saturday and Sunday.
o Cost: Free.
o Information: http://www.ccrealtors.com.
Hundreds of Clark County houses will be on display this weekend as local home sellers take part in the coordinated Realtor Nationwide Open House, aimed at spurring home sales throughout the nation.
Realtors in 40 states are expected to participate in the Saturday and Sunday event, meant to let potential home buyers know they can still take advantage of federal tax credits that expire April 30 if they have a signed contract. The sale must close by June 30 for move-up buyers to claim $6,500 if they’ve lived in their home for at least five years. For first-time buyers, the tax credit is $8,000.
“That’s enough to buy new appliances or carpet,” said Linda McClellan, president of the 1,475-member Clark County Association of Realtors.
This is the second year in a row her local group will take part, showing between 250 and 300 houses, which will be decked out in bright blue balloons with the Realtor “R” in white.
During last year’s event, local Realtors held about 70 open houses, said Michele Holen, an administrator with the association.
The coordinated event was started at the county level in Washington by the Snohomish County Camano Association of Realtors in 2007. It became a statewide event in 2009, said Bill Riley, president of the Washington Association of Realtors.
“Last year, we had about 5,000 open houses,” Riley said.
This year, he expects Washington Realtors to host nearly 7,000 open houses.
Riley said the success of last year’s event drew the interest of Realtor groups from across the nation, although the National Association of Realtors is not an event sponsor.
“We’ll probably have all 50 states participate next year,” Riley said.
Local Realtors say today’s buyers have a wide range of options at prices that are lower than at this time last year.
In February, the median price dropped 6.7 percent to $209,900 for all new and existing homes sold in Clark County, compared with the same month in 2009, according to Vancouver-based Riley & Marks appraisal firm. The median price was $224,900 a year earlier.
The lower selling prices have been driving sales volumes higher, said Kent Walsh, a broker and office manager of ReMax Equity Group’s Columbia Tech Center office in Vancouver.
Walsh expects home sales to remain fairly strong through the summer, buoyed by moderate prices and low mortgage loan interest rates. However, he urged buyers to consider getting in before the tax credit’s April 30 expiration.
“We’re at crunch time. They need to get on the bandwagon or they’re going to lose that incentive,” Walsh said.
