Serving the Pioneer Valley of Western Massachusetts

 

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Clients only: Register to receive daily email updates of new listings and access to our MLS extranet. Click here.

 

Northampton Real Estate; a Soaring Stock Market; Food Riots in the Middle East. What's the Connection? (April 27, 2011)

 

A Few Thoughts on Sovereign Debt (June 6, 2010)

 

Letter to a Friend Buying on the Cape: Don't! (November 21, 2009)

 

A Slow-Motion Train Wreck: The Debt Crisis and Real Estate  (December 11, 2008)

 

A Realtor's View from Hubbert's Peak: The End of Cheap Oil and Cheap Money (June 5, 2006)

 

War and Property Inflation (April 7, 2005)

 

Why Home Prices Are Going through the Roof: A Brief Guide to the "New Economy" (January 13, 2003)

 

From Patrick Killelea of Patrick.net, a great resource for real estate news:

"I want to cause a sea-change in the mentality of the US. I want people to see that mortgage debt is destructive, with no benefits at all, except for bankers. Mortgage debt just drives up prices and enslaves workers to their bosses. If we all paid cash for houses, or rented, we would be more prosperous, more free, and happier."

 

More Articles on the Housing Market:

The Great Repression, by Niall Ferguson (February 28, 2009). Ferguson on the only real solution to the financial crisis, one that the Obama team will come around to when all else has failed.

Depression in the East Points the Way for the Rest of the World, by Larry Elliott (The Guardian [UK], February 26, 2009)

What Is Your Home Worth? Both Less and More than You Think,  by Sharon Astyk (December 16, 2008)

A Word of Advice in a Real Estate Slump: Rent by David Leonhardt (New York Times, April 11, 2007)

Crisis Looms in Mortgage Markets by Gretchen Morgenson, March 11, 2007.

Un-Real Estate by James Grant, April 2005

Housing bubble in New England  (Dean Baker, Center for Economic and Policy Studies, Jan. 5, 2003)

"These are perilous times for asset markets ...." (Ian Campbell, UPI, Jan. 30, 2004)

 

     

"House of Cards: US, UK Home Prices to Decline Dramatically in Next Few Years."
See The Economist's survey of May 29, 2003

 

"Mortgage Markets Are Out of Control," New York Times, August 17, 2003

 

Co-buying: One solution to the high cost of housing in the Valley?

 

Considering an adjustable rate mortgage? It may be a risky proposition. See Homeowners Urged Caution on Hybrid Loans

 

For the effects of skyrocketing home prices on communities, see an article by Rebecca Solnit, Hollow City (as computer money flows into San Francisco, the quirkiness and creativity drain out). A cautionary tale for Northampton and other Valley towns.

 

 

Buyer Agency Agreement

 

The PARTIES, the "Client(s),"

and the "Agent," Dave Hopkins [or Joelle McDermott] of EcoRealty, agree to the following terms and conditions:

TERM OF AGREEMENT: This Agreement begins at signing and terminates on the earlier of [4 to 6 months from signing] or the closing of property placed under contract during the term of this Agreement.

AGENT’S OBLIGATIONS: Agent agrees to assume the following responsibilities:

· Use Agent’s professional knowledge and skills to conduct a search for real property which meets Client’s stated needs by showing or offering to show real property.

· Represents Client(s) in negotiating price, terms and conditions and acting in Client’s best interests except as otherwise provided.

· Act in accordance with the following fiduciary duties: confidentiality, loyalty, obedience, accounting, disclosure, and reasonable care and diligence except as otherwise provided.

· Perform other duties including:

CLIENT’S OBLIGATIONS: Client agrees to assume the following responsibilities:

· Work exclusively with Agent during the course of this Agreement and refer all inquiries and conduct all negotiations in good faith to purchase real property through the Agent.

· Provide true and accurate financial, personal and business information and all necessary information to ensure Client’s ability to purchase property.

· Authorize Agent to release Client’s financial, personal, or business information (e.g., a preapproval letter from a bank) to third parties, including the listing broker and seller/owner if Agent determines that it would assist Client.

· Assist, cooperate and actively participate in locating desired real property.

Client acknowledges that he/she is not currently subject to another buyer agency agreement.

LIMITATIONS:

· Agent shall act as a professional real estate agent and not as an attorney, accountant, appraiser, home inspector, or other professional. Client is advised to seek outside help if needed.

· Agent may represent other buyers who may have the same real estate needs as the Client(s).

COMPENSATION:

· Client agrees that the Agent will be compensated in one of the following ways: (Check all options that can possibly apply)

____ 2-3% of the purchase price of the real property, but no less than 2%, to be paid to the Agent by the listing agent or seller or seller’s attorney at the closing, as a co-broking fee to the buyer agent.

____ In the event that a co-broking commission is not offered to the Agent, or in the event that the co-broking commission is deemed unacceptable by the Agent, a stipulation will be made in the Offer to Purchase and the Purchase and Sale Agreement, asking the seller to pay the Agent 2-3% of the purchase price at the closing.

____ If the property is offered for sale by an owner without a listing agent (a.k.a. For Sale by Owner) and/or without a listing on MLS-PIN, a stipulation will be made in the Offer to Purchase and the Purchase and Sale Agreement, asking the seller to pay the Agent 2-3% of the purchase price of the property at the closing. In the event that a For Sale by Owner seller refuses to allow a commission to be built into the purchase price or to pay such a commission to the Agent, the Client agrees to pay the commission separately at the time of the closing.

____ If the Client chooses to purchase land, the above compensation methods will apply for the purchase of land (the co-broking commission here tends to be from 3 to 5%). If the Client wishes the assistance of the Agent in finding a builder/home manufacturer and throughout the building process, a stipulation will be made in the construction contract that the builder/manufacturer or his/her agent will pay the Agent no less than 2% of the sale price at the time of closing.

The Client authorizes the Agent to accept such a fee from the listing broker or the seller or builder.

This is a legally binding agreement. If not understood, please seek legal advice.

 

Client(s):

Address:

Date:

 

Agent:

Date: