It’s coming: ’The BIG OPEN’!

On Aug. 9-10, and Aug.16-17, the Spokane Association of REALTORS® will host The BIG OPEN, a regionwide community open house event designed to highlight both the unparalleled variety of homes available to all home buyers, and the many great communities found around Spokane County.

Next Saturday, Aug. 9 kicks off The BIG OPEN for its first of two concurrent weekend events. Details can be found on SpokaneOpen.com, a newly launched Web site brought to you by your Spokane REALTOR®. It is the goal of SpokaneOpen.com to feature hundreds of homes in all areas of the county, and in all price ranges. The Web site allows online visitors to search for current open houses, and print them out by price or by open house date, with maps, details, directions, and more. And, just for visiting REALTOR®-sponsored open houses during the two BIG OPEN weekends, participants can enter to win a grand prize drawing of a $100 gift card, each weekend.

Spokane REALTORS® remind you of seven great reasons to own a home:

Tax Breaks. The U.S. Tax Code allows you to deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home.

Appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices in Spokane County have increased an average of 6 percent each year over the past ten years. In addition, the number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing.

Equity. Money paid for rent is money that you’ll never see again, but mortgage payments allow you to build equity ownership interest in your home. To calculate whether buying is the best financial option for you, use the “Buy vs. Rent” calculator at www.ginniemae.gov.

Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax. Consult with your accountant for more details.

Predictability. Unlike rent, your fixed-mortgage payments don’t rise over the years, so your housing costs may actually decline as you own the home longer. (Keep in mind, however, that property taxes and insurance costs may increase.)

Freedom. The home is yours. You can decorate any way you want and benefit from your investment for as long as you own the home.

Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.

If you are starting your home search online, be sure to visit SpokaneOpen.com, the official open house Web site of the Spokane Association of REALTORS®. Bookmark the site for weekly updates on local REALTOR®-sponsored open houses. Come out and enjoy THE BIG OPEN weekends, Aug. 9-10 and 16-17, courtesy of the Spokane Association of REALTORS®.

Remember, today it’s an open house – tomorrow, it can be YOUR house.