Coweta Realtors participating in nationwide Open House
From Staff Reports
business@newnan.com
Coweta Realtors will be busy this weekend as the National Association of Realtors hosts its third annual Nationwide Open House today and Sunday.
With plentiful inventory and record-breaking housing affordability conditions, Realtors expect this year’s spring home buying season to be a busy one, said Coweta Board of Realtor representatives.
Open Houses are an important way for both sellers and buyers to get a realistic feel for the housing market, said Linda Mitchell, spokesperson for the Coweta Board of Realtors.
Sellers get to showcase features of their homes that are hard to capture in advertising and buyers get a feel of what it might be like to live in the homes. Visiting open houses helps buyers find out what they can get for their money, and whether their expectations are realistic.
The local Open House event will be today and Sunday from 2 until 4 p.m. To see a list of the homes that will be held open visit the Newnan-Coweta Board of Realtors website at ncbor.getlamps.net and click the link for the Nationwide Open House Event, or visit the Newnan-Coweta Board of Realtors facebook page.
Earlier this year the National Association of Realtors reported housing affordability conditions reached the highest level since record keeping began in 1970.
The housing affordability index is based on the relationship between the median home price, median family income, and the average mortgage interest rate.
The index reached 206.1 in January of this year, the first time the index broke the two hundred mark. The higher the index, the greater the household purchasing power. This means that the typical family has roughly double the income needed to purchase a median-priced home.
