Park City Realtors participate in National Open House

(Park Record) Go on in all Utah Realtors are encouraged to hold open houses this Saturday.

When the federal home-buyer tax credit was about to expire last November, there was a spike in real estate sales nationwide. On April 30, the extension will expire so the National Association of Realtors is promoting a day of open houses on April 10.

Lerron Little, president Utah Association of Realtors, said about 31 states are participating and it's a great opportunity for Realtors all around to combine marketing efforts. Local consumers will be able to see a variety of real estate product in a condensed fashion.

He compared the day of open houses to a Parade of Homes (the Park City area hosts a Showcase of Homes) in which people get great access to see the product on the market and what values are available.

Purchase contracts must be approved and signed by April 30 and deals closed by June 30 to take advantage of the tax credit.

"It's an important deadline," he said. "It's beneficial to home sellers and those purchasing to know about the incentive."

Mark Seltenrich, president of the Park City Area Board of Realtors, said experts are expecting the April 30 deadline to again spur home sales. The open houses are a great way to combine marketing efforts and remind people of the deadline.

Participation in the program is completely voluntary, but the board's CEO Sharon Woodbury said initial inquiries suggest there will be good participation from the largest firms.

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