The real estate industry holds a nationwide open house event | News
COLONIE - It's a buyers market, according to realtors. But homes aren't exactly selling like they used to in recent years.
The real estate industry hopes this year will be better. They kicked off the season with a nationwide open house weekend.
Mike Massitt put his home on Balboa Drive in North Colonie on the market in January. The three bedroom custom home has had a few hits, but no real offers so far. Mike hopes Open House Weekend will lead to someone making an offer.
Potential buyers were definitely taking a look. Donna Clanton, an agent for Realty USA, says it's a buyers market. There are a lot of deals out there if you are willing to pull the trigger. She says interest rates are also low and the market is showing signs of improvement, with sales up 11 percent this year.
Also, if it's a new home that suits your needs, you can get a deal on those too. Clanton says a lot of builders are giving away more options and upgrades than they typically give away. That includes things like hardwood floors and countertops.
CM Fox agent Chris Maccabe showed a model home off of Boght Road in Colonie, built by Manchester Associates. He says the Capital Region did not see a decline in real estate like many parts of the county. But things are certainly picking up with a lot of relocations. According to Maccabe, GlobalFoundries, Nanotech, and GE are bringing new jobs into the area, which certainly doesn't hurt.