A good Realtor needs to stay in touch with their customers, clients, friends, family, and all acquaintances, but sometimes just doing an old-fashioned open house is a part of the back-to-basics business approach that helps them get through slow times.

I held an open house this past Saturday and Sunday and have spotted a new trend in real estate.  The lease-purchase buying option seems to have taken on a new life this past month.  The listing agent for the house I held open put a sign in the yard that said “Lease Purchase Option.”

On Sunday, about eight people came through the door and every single one asked about the terms of the lease purchase.  I think it could be for one or two reasons:  1.) They want their foot in the door to close before November 30th so they can get the $8000 tax credit for first time homebuyers, and 2.) Credit is still an issue, but buyers think that at least if they’re doing a lease purchase, they are moving toward the American dream – which I assure you is still very much alive.

The real estate questions I’ve had these last few months have been:

• Do you know an investor who will buy my house and lease it back to me?
• Can you help me find a lease purchase?
• If I sell my house now, how bad will it be?

With today’s housing report, though, I anticipate the phones will start ringing again from people who do feel secure in their jobs and who are ready to take advantage of lower mortgages and lower prices.