Over the last ten years I have greatly enjoyed assisting Harvard professors, Harvard students and fellow Harvard alums with buying and selling in Cambridge. I have enjoyed working with Harvardians and their families at Harvard Law School, Harvard Business School, The Kennedy School, Harvard College and at the Harvard graduate schools – all Harvard connections are welcome! Always a pleasure to work with members of  the Harvard family – past, present and future!

One Harvard professor I worked with writes the following: “Charles Cherney was consummately professional in his work with us. He kept us regularly informed about possible properties as we searched for just the right house. It was a pleasure to work with him throughout the process and he has our strong recommendation for anyone seeking a principled, knowledgeable, efficient and client-orientated real estate professional.”

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The Cambridge Real Estate Blog.

1. Determine how much to spend.
Discover a clear sense of your financial self or selves
- Where is your cash and what is required to tap it for a home purchase?
- Most buyers will need to secure a loan (a mortgage) to purchase. Get a loan preapproval letter from a bank or mortgage lender or mortgage broker.
- Determine your price range. Essential first step. Look to buy
A) what you can afford
B) and are willing to spend

What are the costs of ownership?
Loan – monthly payment x 12
Property taxes – In Cambridge in 2011, annual tax rate is $8.16 per $1,000 of assessed value and the residential exemption savings is $1,601.20. So, if you purchase a residence for $400,000, you can expect your annual tax bill to be 400 x $8.16 = $3,264 (less 1,601.20 if it is your primary residence)
Insurance – Homeowner’s insurance
Condo fee – monthly payment x 12
Maintenance – utilities, upkeep, et

2. Decide when to move.
Lease agreement in place? Give proper notice to your landlord.

If you buy something today (that is, put a property under accepted offer), typical closing date – the date you take ownership – is usually six weeks out. Four weeks is fast. Eight weeks is slow.

Allow yourself time to search.

Remember, too, that the market is seasonal:
1. Spring market is January to June, with March and April and May being the peak months.
2. Fall market is after Labor Day (early September) through mid-November.
3. Summer market is June through August.
4. Winter market is mid-November through early January.

3. Decide where to live.
Get the focus on one or more areas and prioritize the list.
Establish a relationship with a real estate agent in your primary search area to be your buyer’s agent.
Your real estate agent in your primary search area will refer you to a good agent or agents in secondary location(s).
Real estate is a referral-based business. Have your primary real estate agent connect you with other agents.

Your real estate agent in your primary search area is the most important person in your real estate search.
Your real estate agent is like the coach and you are like the quarterback.

You benefit by having a real estate agent:
- Free (Buyer’s agent paid through transaction by listing agent or seller)
- Experienced (Buyer’s agent will have seen thousands of properties)
- Knowledgeable (Buyer’s agent learns something new in every transaction)

The average buyer goes through four to five experiences of buying and selling in their lives. A top agent goes through four to five experiences of buying and selling every month or two.

4. Search for home sweet home.
So, now you know how much you want to spend.
If you will be needing a loan, you have a preapproval letter for a loan.
You have determined the area you wish to live and established a relationship with a real estate agent as your buyer’s agent.
Meet with your agent to focus your search and discuss specific requirements and wish list.

Sign up on your agent’s website for daily updates on properties in your price range.
Communicate on a regular basis with your agent regarding properties of interest.

Seek to see properties
1)     online
2)     on Sunday open house circuit
3)     on a tour
4)     by appointment

Learn from what you see – refine your search with your real estate agent.
Consider resale value.
Pay attention to you real estate agent and what he has to say.
If a property comes into focus as a contender, your real estate agent can complete a market analysis of value. Is the price low? On the mark? High?

5. Make an offer and proceed to closing.
When you are ready to make an offer, your agent will guide you through this process.

If your offer is accepted, you will
a) have a home inspection. Your real estate agent can recommend inspectors. Typical cost is around $500.
b) retain a real estate attorney. Your real estate agent can recommend attorneys. Typical cost is around $600 to $1,000. Your real estate attorney will review title insurance with you.

If the deal is still on after the home inspection, the buyer’s attorney gets busy in concert with seller’s attorney in working out the purchase and sale agreement  – the p & s - which takes the place of the signed, accepted offer.

Typically, at the time the P&S is executed the buyer has decided which lender to work with and completes all the forms for the loan.

Typically, a month after the purchase and sale is signed, the mortgage commitment from the lender is due.

Finally, the closing! You own it!

For more information on the home-buying process, please contact me at ccherney@hammondre.com or 617-733-8937. I am a Harvard graduate, Cambridge resident and a top broker in the city since 1999. I would be delighted to be of assistance to you.

To gain instant access to photos and descriptions of all MLS properties now for sale in Cambridge, MA log in as as new visitor at Cambridge Real Estate.

Learn more about Cambridge, Massachusetts and Cambridge real estate on my blog at www.CambridgeTumblr.com.

The Cambridge Real Estate Blog.

These numbers are for sales of single families, multi-families, and condominiums – the three types of residential real estate in Cambridge. Figures from MLS for MLS sales.

Cambridge Residences SOLD: +2%
2010: 850 SOLD
2009: 832 SOLD

Days on Market (DOM) in Cambridge: Level
2010: 80 DOM
2009: 79 DOM

Average Sale Price (ASP) in Cambridge: +10%
2010 ASP: $620,475
2009 ASP: $559,197

Median Sale Price in Cambridge: +5.4%
2010 Median: $465,000
2009 Median: $440,000

Cambridge Seller’s yield on original list price: PAR
2010: Seller’s averaged 95% of original list price; 97% of last asking price.
2009: Seller’s averaged 95% of original list price; 97% of last asking price.

Cambridge Market Sales Volume: +12%
2010 Volume: $527,403,938
2009 Volume: $465,252,012

The continued stability of the Cambridge market is noteworthy. Many consider 2005 as the most recent peak in the market. In 2005, the median sale price in Cambridge was $465,000 – same as in 2010. Also, the average sale price in 2005 was $580,069. In 2010, the average sale price was $620,520, 6.6% higher than 2005.

If you are considering buying or selling in Cambridge, I am here to help. I can be reached at ccherney@hammondre.com or 617-733-8937. I am a Harvard graduate, a Cambridge resident and a top broker in the city since 1999.

To gain instant access to photos and descriptions of all MLS properties now for sale in Cambridge, MA log in as as new visitor at Cambridge Real Estate.

Learn more about Cambridge, Massachusetts and Cambridge real estate on my blog at www.CambridgeTumblr.com.

The Cambridge Real Estate Blog.

16 Chauncy St. courtyard outside of Harvard Sq.

If you are considering buying or selling in Cambridge, I am here to help. I can be reached at ccherney@hammondre.com or 617-733-8937. I am a Harvard graduate, a Cambridge resident and a top broker in the city since 1999.

To gain instant access to photos and descriptions of all MLS properties now for sale in Cambridge, MA log in as as new visitor at Cambridge Real Estate.

Stay current with what is happening in Cambridge real estate by following Charles Cherney on Twitter.

The Cambridge Real Estate Blog.

Lisa Greenfield's House of Cards in Kendall Square.

Basically, www.CambridgePinboard.com is an online version of the kind of cork board you may have or may have once had in your office, where you would pin interesting things. It’s fun to be able to do this for things found online that are about Cambridge, MA in some way. If you are new to Cambridge or an old hand, I think you will enjoy scrolling through this pinboard and seeing some of the many people and places and things which make Cambridge so special. If you see something that intrigues you, click on the photo to find your way to the online source for the image.

If you are interested in buying or selling residential real estate in Cambridge, I am here to help. I can be reached at ccherney@hammondre.com or 617-733-8937.  I am a Harvard graduate, a Cambridge resident and a top broker in the city since 1999. I would be delighted to serve you as a buyer’s agent.

To gain instant access to photos and descriptions of all MLS properties now for sale in Cambridge, MA log in as a new visitor at Cambridge Real Estate.

Take the pulse of the Cambridge right now on Twitter.

The Cambridge Real Estate Blog.

1. WebMD

WebMD makes it easy to find a physician, dentist, eye doctor, or ER or  in your new neighborhood. It also puts first aid information right at your fingertips.

2. Yelp

Yelp iPhone app

The “Nearby” feature on the Yelp app shows you the restaurants, banks, dry cleaners, bookstores and other businesses that are closest to your new home. Best of all, you won’t waste time looking for the best tapas joint in your neighborhood because the app displays ratings and reviews directly from Yelp.com.

3. MenuPages

Want to see the current menu for a restaurant you found on the Yelp app? MenuPages is your app.

4. Everyblock

Everyblock filters local news for your new neighborhood into categories like city press releases, residential real estate and commercial real estate listings, restaurant inspections, and school reviews. Kind of makes doing city research a little less painful.

5. Seamless Web

Hungry for take-out? This app transfers the features of SeamlessWeb.com to a convenient iPhone app. Browse take-out menus for nearby restaurants and order your food while on-the-go.

Primospot iPhone app

6. Primospot

Take the headache out of city parking. With this iPhone app you can instantly find open parking meters, parking spots, and compare rates on parking garages. There’s even a feature that shows you the nearest places to lock up your bike.

7. Free Wifi

Need wifi while out wandering your new city? This app shows you the nearest hot spots.

8. Craigslist Pro

Craigslist Pro (CraigsPro)

Looking good, Craiglist Pro, looking good. (Sorry, Craiglist.com, but this iPhone app is way better looking than you.) Browse Craigslist, post ads, and save favorites. A major help when it comes to last-minute purchases like patio furniture or an end-table for the guest bedroom.

9. Move Planner

It’s inevitable — eventually you’ll have to pack those boxes. Organization is a bit less daunting with Move Planner’s moving checklist (example: transfer or resign club memberships, transfer your bank accounts, change your address, register to vote, etc.)

10. Best of Boston

Okay, so this is strictly built for Boston newbies, but it just had to be listed. The app lets you instantly find out 2010′s Best of Boston -awarded restaurants, stores, services, galleries, and more.

Sun-dappled Nantucket cottage after rainstorm on Elm Street outside of Inman Square, Cambridge.

As a real estate broker in Cambridge, MA, I am on the go throughout the city each and every day. Earlier this year I decided to begin taking photos of Cambridge on my daily travels and to post my photos online at Flickr. I am inspired to add to this photo stream each week as the spirit moves me and time allows. I have created different sets of photos, including

Cambridge City Life

The Natural Beauty of Cambridge

Cambridge Homes

Harvard University

I recall reading years ago a book by Professor John Stilgoe of Harvard University entitled Outside Lies Magic. The message: take a look around and you will SEE:).

If you are interested in looking around at real estate in Cambridge, I am here to help. I can be reached at ccherney@hammondre.com or 617-733-8937. I am a Harvard graduate, a Cambridge resident and a top broker in the city since 1999.

To gain instant access to photos and descriptions of all MLS properties now for sale in Cambridge, MA log in as as new visitor at Cambridge Real Estate.

Stay current with what is happening in Cambridge real estate by following Charles Cherney on Twitter.

The Cambridge Real Estate Blog.

4. Get connected if possible with your real estate broker online. Log in as a new visitor on your agent’s website for daily updates and to search properties at any time which are currently active, now under accepted offer and recently sold. I frequently communicate via email with buyer clients during the course of a search. I am, of course, available by phone and in person as appropriate. That being said, a great deal can be and is accomplished via email during the course of a search.

3. Pay close and careful attention to all the properties you see. Even if the house is a bomb, a light may go off in the kitchen on your tour that you want an island. It may come to you on the dark and dreary back deck that you really want a deck – all properties send messages. Let them speak to you so that you can refine your search parameters and learn what is important to you.

2. Have your real estate agent complete a market analysis for a property you feel inclined to make an offer on. When you think you are ready to do something, your real estate agent ought to carefully consider the subject property with you, weighing pluses and minuses. Also, your agent ought to crunch the numbers and review relevant properties now for sale, under accepted offer, and recently sold. Is it a deal? Priced right? Overpriced?

1. Maintain a positive attitude. Things can and do happen in a real estate search: you might lose out in a multiple offer situation; it might be discovered during a home inspection that your dream home has a serious structural defect; the place you are certain is perfect for you comes on the market when you are out of town. HANG IN THERE! Keep a positive attitude. Remember, this is real estate – expect the unexpected.

Generally speaking for most buyers who practice these five precepts, the result is a successful search.

If you are considering buying or selling in Cambridge, I am here to help. I can be reached at ccherney@hammondre.com or 617-733-8937.  I am a Harvard graduate, a Cambridge resident and a top broker in the city since 1999.

To gain instant access to photos and descriptions of all MLS properties now for sale in Cambridge, MA log in as as new visitor at Cambridge Real Estate.

Take the pulse of the Cambridge right now on Twitter.

The Cambridge Real Estate Blog.

Retain a hard-working buyer’s agent who is value-added to your search.

A buyer’s agent who
- tracks the market and alerts you to listings of notecomes to truly understand your search and over time develops a refined sense of what is suitable and what is not
- is capable of completing a meaningful market analysis when a property of interest comes into focus
- is a good negotiator and a well-spoken advocate for your interests
- knows the market and can help you weigh and consider the offerings in a meaningful way
- is a dependable source of information and insights about the market, your search, and the home-buying process.

Carefully consider the resale value of the property you wish to buy.
Size. Price. Location. Condition. Upside. Many factors – consider them all.

Learn from yourself in your search what you are really searching for.
A tour of six properties on a Tuesday afternoon may not turn up your dream home. However, pay attention at each address and learn from yourself what you are really searching for – climbing to the top floor and being short of breath may remind you that you want to be on the first floor. Responding very positively to a new kitchen may bring home the importance of finding a cook’s kitchen. Looking out the window at the neighbor’s picture-perfect yard may tell you that for your new  home you really want a super outdoor space – or maybe just a nice view. PAY ATTENTION to what you are thinking and feeling in the course of your search and learn from yourself as your search opens up and advances forward.

Be realistic.
It’s not about lowering your standards -rather, it’s about understanding what is achievable in your price range.

Be positive.
You are much more likely to succeed in your search with a positive mindset. You do not have to find ten properties – you need to find one. Specifically, one which meets your needs and is a good choice for you now and looking forward. For sure, there’s more to the process than a positive mindset. However, being positive goes a long way towards allowing for a successful outcome in your search.

If you are considering buying (or selling) in Cambridge, I am here to help. I can be reached at ccherney@hammondre.com or 617-733-8937.  I am a Harvard graduate, a Cambridge resident and a top broker in the city since 1999.

To gain instant access to photos and descriptions of all MLS properties now for sale in Cambridge, MA log in as as new visitor at Cambridge Real Estate.

Take the pulse of the Cambridge right now on Twitter.

The Cambridge Real Estate Blog.

Search is undertaken with assistance of myself as buyer’s agent. Team effort to find a suitable property.

An offer is made. A check for $1,000 (“The binder”) is presented with the offer. Generally speaking, the check is made out to the listing broker office for the property. Appropriate loan preapproval letter is attached to the offer. Letter of introduction may also be attached to the offer.

Within 5 business days:
If the offer is accepted, next step is a home inspection. A buyer may also have a pest inspection or other inspections done at this time. (By law, the buyer has 10 days to have a lead paint inspection completed.)

If the home inspection is acceptable, a buyer will usually secure a real estate attorney at this juncture to begin communicating with the seller’s attorney. If the property is a condominium, there is a review of the condo documents & budget. In due course the attorneys prepare the purchase and sale agreement.

Within 7 to 10 business days:
If the deal is still on track, next step is the execution of the purchase and sale agreement (“The P&S”), which replaces the signed, accepted offer as the document binding Buyer and Seller. A second check, usually for 5 to 10% of the purchase price, is written by the Buyer at this stage. It joins the binder check in the escrow account established for the transaction.

Generally speaking, 3 to 4+ Weeks after signing of the purchase and sale, the mortgage commitment is issued.

Closing – the date arrives for the transfer of real estate. Generally speaking, the closing is 4-6 weeks after the offer is accepted.

If you are considering buying or selling in Cambridge or Somerville, I am here to help. I can be reached at ccherney@hammondre.com or 617-733-8937. I am a Harvard graduate, a Cambridge resident and a top broker in the city since 1999.

To gain instant access to photos and descriptions of all MLS properties now for sale in Cambridge and Somerville, MA log in as as new visitor at Cambridge Real Estate.

Stay current with what is happening in Cambridge real estate by following Charles Cherney on Twitter.

The Cambridge Real Estate Blog.