Local Realtors Cheer National 'Open House' Event This Weekend

Sixteen homes on Mercer Island are among several hundred currently offered for sale around King County will be holding an "Open House" this Saturday, April 28 and Sunday, April 29 as part of the National Association of Realtors (NAR) Nationwide Open House event.

The event is an effort, first started in Snohomish County in 2007, to hold a large number of home showings on a spring weekend when the most homes typically come onto the market and choices are plentiful.

“An improving housing market, record low interest rates, and the best affordability in years make this year’s Open House Weekend especially timely,” said Seattle-King County President Wolf Puls, a broker at Windermere Real Estate in Kirkland.

But the number of homes for sale this spring is relatively small. According to NorthWest Multiple Listing Service (NWMLS), there were only 111 single-family homes and condos for sale here last month — down 27 percent from last year — and representing the smallest springtime inventory Mercer Island has seen in several years. The number of active listings in King County is down about 34 percent from a year ago.

“Shoppers need to be ‘buyer ready’ in today’s fast-changing market,” said Puls. He also noted lower inventory is prompting multiple offers on well-priced properties in desirable neighborhoods.

Cynthia Schoonmaker, a managing broker at , said she'll be busy showing a shaded late 1960s-era two-story house near Groveland Beach Park this Sunday with an asking price of $845,000.

"I've been sort of experiencing a phenomenal market in the 7's and 8's," she said. "I've had 4 listings that have came on the market and within a day or two were under contract, some with multiple offers. It's been a really interesting market."

Meanwhile, Realtor Laura Reymore is offering tours on Sunday for the first time of a custom-built, waterfront home on the South-end of Mercer Island.

"It's a really interesting and unique property," said Reymore.

The home — a Ralph Anderson design, asking price: $2,750,000 — is loaded with extras. It's got a private moorage, 75 feet of shoreline on Lake Washington, a pool and every room in the house promises a view of the lake and the Olympic Mountains in the distance

"Our goal is to have people get out and explore the market," said Reymore. "Our big challenge is, yes, we're really short of inventory. My goal as an agent is to give the public an easy-access opportunity to get to know the market as well ... it's truly an opportunity to get out, see what's available and be ready when the right opportunity strikes."

Russell Hokanson, CEO of the Seattle King County Realtors, said members hope to double or triple the number of open houses available for previewing on a typical weekend. Featured homes will be flagged with blue balloons with the Realtor logo. 

Many SKCR members are inviting loan representatives, title company officials, inspectors or other affiliates to be on hand during the event, according to Hokanson. The open house hosts will have details on various home-buying programs and incentives that are available, whether buying a first home, planning to move to a different sized home, or looking to invest.

Most Realtor associations around the state are participating in the Nationwide Open House event. The Washington Association of REALTORS estimates 7,000 homes will be open for tours during the April 28-29 event.