What are open houses, and how do they work?
When a home is for sale, an open house can bring in as many potential buyers as possible.
5 min read
Jun 18, 2024
Michele Petry
Senior Editor, Home Lending
EXPERTISE
- Home Lending
- Mortgages
- Housing Market
- Real Estate
EDUCATION
- Bachelor’s degree in Journalism, Syracuse University
- Certificates in Real Estate Ethics and Fair Housing Law, Real Estate Board of New York
- Continuing coursework in Mortgage Underwriting and Loan Processing, Home Appraisals, Real Estate Purchase Contracts and Data Journalism
About the author
Michele Petry is a senior editor for Bankrate, leading the site’s real estate content since January 2022. Before joining Bankrate she was a writer and editor for StreetEasy, Zillow’s New York City real estate site. Before that, she amassed 20 years of experience on staff at national magazines, honing her skills editing home-based content at House Beautiful, Elle Decor and Veranda (among other titles). Michele earned her journalism degree from Syracuse University’s Newhouse School of Public Communications and is a member of the Society for Advancing Business Editing and Writing (SABEW) and the National Association of Real Estate Editors (NAREE). She lives in Manhattan.
Michele beyond Bankrate
Michele wants you to know
Buying your first home is scary, stressful and thrilling all at once. I couldn’t believe a bank was willing to lend a young, clueless me what seemed at the time like SO. MUCH. MONEY. The fact that it was a New York City co-op apartment, with all the esoteric rules and nerve-racking interviews that includes, made it even more surreal. I know firsthand how important it is to have a knowledgeable real estate agent to guide you through the journey — mine specialized in my neighborhood, knew the building I was buying in specifically, and saved me from making a million naive missteps. I’m happy to use my experience and skills to help others achieve their real estate dreams.
Hire a real estate attorney for any home sale or purchase, even if your state doesn’t require you to. The contracts are complex, and the stakes are high — it’s worth the extra cost to make sure everything is legally buttoned-down.
— Michele Petry
Michele's latest articles
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What is a modular home?
Modular homes offer homebuyers advantages over traditional homes.
5 min read May 06, 2022 -
What is caveat emptor in real estate?
This commonly used phrase in real estate typically serves as a warning that a property is being sold as-is — flaws and all.
2 min read May 04, 2022 -
Distressed property: What you should know
Typically, a distressed property is either under foreclosure, or the lender is trying to sell it.
4 min read May 03, 2022 -
What is a bedroom community?
Bedroom communities offer a variety of benefits. In exchange, however, residents must often sacrifice amenities associated with cities and more urban areas.
3 min read May 02, 2022 -
Best golf course communities in the U.S. 2022
What really makes a golf course “the best”? These rankings are based on the surrounding golf course community, difficulty of the course, attractiveness of the area, and the value of a membership.
4 min read May 02, 2022 -
Where in the U.S. do homes sell the fastest? Top cities with fewest days on market
As properties fly off the market at lightning speed, buyers must be ready to compete.
3 min read Apr 29, 2022 -
Considering a long-distance move? Read this first
Before a long-distance relocation, some soul searching and some research are in order.
3 min read Apr 28, 2022 -
Should you take a lender recommendation from your realtor?
Real estate agents can provide recommendations for lenders, but is taking their advice a good idea?
3 min read Apr 22, 2022
