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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How long does it take to buy a house?
The average time to close a loan on a home purchase is 50 days.
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Moving expenses and taxes: What you need to know
For years, Americans relocating for work could write off their moving expenses. That changed with the Tax Cuts and Jobs Act of 2017.
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Where are home prices dropping the fastest?
The pandemic-era housing boom has ended. In some formerly hot markets, values are actually falling.
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What are seller concessions?
Depending on the market, seller concessions don’t always pan out for the buyer.
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Low-commission real estate agents: What’s the catch?
Some agents are willing to sell your home for considerably less than the traditional commission fee — but is there a catch?
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Selling a home in New Mexico
Equity is on the rise in New Mexico. But if you’re trying to cash in on the market, you’ll need a solid strategy in place.
9 min read Oct 17, 2022 -
Buying a house in New Mexico: A how-to
While New Mexico home prices are rising, homes are also sitting on the market for longer than past years.
9 min read Oct 17, 2022 -
What is a ‘best and final’ offer in real estate?
If a home seller asks for your best and final offer, there are likely other bidders as well. It’s important to be strategic.
3 min read Oct 14, 2022
