bostonbubble.com

[admin]

A question for Bill Wendel, aka RealEstateCafe, as well as any other buyer's agents that might want to chime in: at what point in the home buying process would somebody need to engage your Real Estate Cafe services in order to get the eventual rebate? Can it be after inquiring about a property from a seller's agent? I was curious whether it's safe to go to open houses beforehand or not, to get a feel for neighborhoods, etc., or if it's necessary to have a buyer's agent first?

- admin

[Elrond]

As I understand it, the buyer's agent must be the "procuring cause" in the transaction in order for them to receive a commission.

The Mass DPL has some language to define this term here:
http://www.mass.gov/ocabr/licensee/dpl-boards/re/ceu/continuing-education-subject-matter-curricula/re54r06.html

While I can't speak for every situation, I can say that most of the people I've worked with started the home buying process touring open houses on their own and ultimately once they had some kind of understanding worked with a real estate professional on the buyer's side to submit their offer and receive their rebate.

Incidentally, I also work as a buyer's agent and offer a 50% rebate.

[admin]

Thanks for the response. Feel free to link to your agency's website - I won't consider it spam since you contributed usefully to the discussion and it's relevant to the topic.

- admin

[Elrond]

We'd need to make one before I could link one

[JCK]

admin,

Are you getting ready to join the dark side?

With rents the way they are right now, I think the smart money is on buying, assuming your life situation and bank account are amenable.

I think the silence lately on the board speaks to that point.

We have now bought a second condo and are renting the first for significant positive cash flow, even though we bought the first at market peak (early 2005). And nominal prices are now the same or slightly less than 2005 in our area, interest rates are 30-40% lower (5% then vs. 3-3.5% now). Thus, your total financial burden is down significantly, even more so once you factor in eight years of inflation.

By contrast, rents have gone up 35-50%, since 2005.

Best of luck.

[admin]

[Elrond]

[Renter]

Perhaps Hong Kong is a good example of what will happen in the USA some time in the future.

http://www.bloomberg.com/news/2013-03-21/hong-kong-homes-face-20-price-drop-as-banks-raise-rates.html

Sadly no one I know can be convinced there is any connection between Real Estate values and interest rates. Boston is special - the USA is a special place that defies the rule of interest rates!

[RealEstateCafe]