148 Albion Unit 1 - 2 bedroom, 1.5 bath residence on the first floor with additional space on the lower level plus 1-car parking and access to a shared yard

and

148 Albion Unit 2 - 3 bedroom, 2.5 bath residence on the top two floors plus 1-car parking and access to a shared yard and private screened porch.

Renovations now underway!  If you are interested in learning more about the two residences at 148 Albion, please contact me.  I am the listing broker and I can be reached at ccherney@hammondre.com or 617-733-8937.

Most recently, the developer – Cambridge Property Development – completed the renovation of a single family house at 120 Otis in Cambridge. To get a general sense of their work, watch video at CPDRenovations.com. Cambrige Property Development has been renovating residences in Cambridge and Somerville for the last five years.

41 Brastow Avenue in Somerville. Two unit building renovated by Cambridge Property Development in 2011. Both units sold in construction phase.

Discover Cambridge and Somerville on Twitter.

Attractive front entrance at 303 Broadway.

NOW FOR SALE (LAST UNIT FOR SALE!!!):

301-303 Broadway Unit 2. This is the largest unit in the association and it features two-car parking. A duplex on the top two floors with in-unit laundry and central ac and access to shared patio garden.

Inviting living room with park view at 301-303 Broadway Unit 2.

The following units are now under accepted offer:

301-303 Broadway Unit 2F is a charming one-bedroom with views onto Sennott Park. The spacious and light-filled floor plan features three exposures.

303 Broadway 2F living room

301-303 Broadway Unit 2R is a second floor two-bedroom with a dynamic open floor plan. It functions as a top floor unit and it is set back from Broadway on the rear of the building. Truly, an urban oasis.

Living room of 303 Broadway Unit 2R

All seven condominiums feature high efficiency heating and cooling systems, kitchens with granite counter tops and stainless steel appliances,  hardwood floors, private laundry hookups and private storage. Also, all units have access to outdoor space.

If you are interested in learning more about the last residence for sale at 301-303 Broadway, please contact me.  I can be reached at ccherney@hammondre.com or 617-733-8937.

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157 College Avenue #1 is now SOLD.

157 College Avenue #1 is a first floor and lower level three-bedroom, three-bath condo near Tufts University in Powder House Square, close to Ball Square and just outside Davis Square and Red Line service to Boston. 157 College Avenue #1 scores an 88 on Walk Score – Very Walkable! 

157 College Avenue looks out on green at Tufts University.

Across the street from 157 College Avenue #1 you will find trees and green grass on a green maintained by Tufts University. Just down the avenue on the other side of Powder House Circle from College Avenue is Nathan Tufts Park. Check out the panomoric view from the park!

157 College Avenue is in Powder House Square, close to Red Line in Davis Square.

Substantially rebuilt in 2006, 157 College Avenue is a two-unit association. 157 College Avenue #1 features an open plan with gas fireplace on the main living level, with crown moldings & 8’11 ceiling height. CHECK OUT THE FLOOR PLAN. A nice feature of the residence is the entry foyer with coat closet and French door opening onto the living room. TAKE A VIDEO TOUR RIGHT NOW.

Living room at 157 College Avenue.

The quality renovation at 157 College Avenue #1 includes a cook’s kitchen with cherry cabinets, pearl granite counters, and stainless steel appliances. Dine at the center island or in the inviting dining area centered on the front window bay.

Kitchen and dining area at 157 College Ave.

The main living level at 157 College Avenue #1 features two spacious bedrooms. The master bedroom features a walk-in closet with custom built-ins and master bath en suite.

Master bedroom at 157 College Avenue #1.

The second bedroom, located in the rear portion of 157 College Avenue #1, is a generous 15 x 15, making it larger than many master bedrooms. It also has -like the master bedroom – a ceiling fan. There is also a good size closet with built-ins. This bedroom is served by a second full bath with shower-tub on the main living level.

Spacious second bedroom on main level.

The lower level at 157 College Avenue #1 is a pleasant surprise. The large two-part suite found here features full-size windows, allowing for ample natural light. The third full bath is a rarity and makes the floor very functional. Additionally, there are private full-size laundry machines in a separate spacious laundry closet. Last but not least, there is a private storage room with direct access to the back hall and exit, making it easy to store bicycles, baby carriages and gear.

Spacious sitting area is part of light-filled suite on lower level.

The shared back yard at 157 College offers a place to grill and entertain and play.

Shared back yard at 157 College Avenue.

Out by the entrance, the front porch on the first floor is exclusively for 157 College Avenue #1. There is also an off-street parking space here for unit 1.

Exclusive use front porch for 157 College Avenue #1.

Additional extras at 157 College Avenue #1 include a gas fireplace and central air conditioning.

A review of MLS sales data shows that in the five year period 2002 through 2006, 494 multi-family properties SOLD in Cambridge – an average of 99 a year. In the last five years – 2007 through 2011 – 333 multi-families SOLD in Cambridge – an average of 66 a year. The total number of multi-family transactions in Cambridge, MA reported in MLS between 2007 and 2011 is 33% below the previous five-year period between 2002 and 2006.

Two-family at 32-34 Royal Avenue which I listed & sold in 2002 - and then listed & sold again in 2011.

What accounts for the decrease in the number of multi-family sales in Cambridge, MA? For sure, many multis are converted into condominium associations. As a result, these multis come to the market just once as multis. As a result, the number of multifamily properties in Cambridge, MA is getting smaller and smaller with each passing year. I believe this goes a long way towards explaining the reduction in the total number of sales.

As for the health of the Cambridge multi-family market, the average sales price has been steadily increasing over the last decade, with only a slight dip in the period 2007-2009, as can be seen in the chart below:

Average Sale Price of a Cambridge Multi-family 2000-2011.

In 2012, there have been multiple instances of multi-family multiple offer situations. Even with limited supply and rising prices, the demand for multi-families in Cambridge remains strong.

Are you looking to buy or sell in Cambridge? I am a Harvard graduate, Cambridge resident, and top real estate broker in the area since 1999. To gain access to photos and descriptions of all MLS properties now for sale in Cambridge and Somerville, MA log in as as new visitor at CharlesCherney.com.

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Per the most recent National Association of REALTORS® Profile of Home Buyers and Sellers, the “most important factor” people look for when choosing an Agent is honesty and trustworthiness (at 31%), and the second most important factor is the Agent’s reputation (at 23%). But these qualities are not necessarily easy for buyers and sellers to find or identify.

That’s because, in real estate, it’s often hard to tell the good from the bad. The choices are seemingly infinite, and the internet is full of subjective, not-entirely-reliable data and reviews about Agents. So, how do buyers and sellers choose the right Agent? Very often, they don’t, as the polls and surveys continue to tell us. Until now, the public  has not had an objective, credible source to help them locate the kind of honest, trustworthy and reputable Agent that they desire and deserve. Like YOU.

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Thinking of buying or selling real estate in Cambridge or Somerville, Massachusetts? Verified Professional Agent Charles Cherney is here to help you.

This data is for Cambridge condo sale events between January 1, 2011 and February 13, 2012. This is a good sampling period:

2-BR Condo Sales in Cambridge, between 1/1/11 & 2/13/12

OBSERVATIONS:

Under $300,000, all two-bedroom condos featured only one bath. IF YOU ARE LOOKING UP TO $300,000 you will have one bath.

Between $300,000 and $499,999, 60% featured one bath, 14% featured 1.5 baths and 26% featured 2 full baths.

Between $500,000 and $799,999, 20% featured one bath, 10% featured 1.5 baths and 70% featured 2 full baths.

For $800,000+, 15% featured one bath, 15% featured 1.5 baths and 70% featured 2 full baths.

The one (and only) bath at 60 Magnolia Ave. #3, a 2-br condo which I listed and sold in 2012 for $405,000.

$500,000 is the turning point. North of $500,000, you stand a 70% chance of finding a 2-bedroom condo in Cambridge with 2 full baths.

Are you looking to buy or sell in Cambridge or Somerville? I am a Harvard graduate, Cambridge resident, and top real estate broker in the area since 1999. To gain access to photos and descriptions of all MLS properties now for sale in Cambridge and Somerville, MA log in as as new visitor at CharlesCherney.com.

The Cambridge and Somerville Real Estate Blog.

Living area inside loft at 1365 Cambridge #3 in Inman Square.

If you are considering buying or selling a loft 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.

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10. 303 Broadway Unit 1R. A one-bedroom condo set back from the street with its own private entrance?!? How cool is that! Functions more like a single family. I served as the listing broker at Hammond Real Estate for this renovated 1-bedroom residence. Other highlights here include intelligent floor plan, in-unit laundry hook-ups, high ceilings, central air. SOLD for $328,000.

Private entrance for 1-br at 303 Broadway 1R.

9. 2 Union Terrace Unit 2B. To be or not 2B? Incredible one-bedroom on second floor with private entrance on first floor and roof deck up above. And there is also parking for one car and central air. Purchased by one of my buyer clients. SOLD for $342,000.

8. 22 Bradbury Unit A. A 1-br outside of Harvard Square in the Riverview association. This unit in the smaller building on Bradbury Street. Exceptional 2007 renovation. SOLD for $390,000. A Hammond Real Estate listing.

7. 141 Elm. New construction contemporary townhouse on four levels designed by Campbell Ellsworth. Listed as a 3-br residence but functions as a 2-br plus study. Three full baths. Nice private outdoor space. One of four units in the association in two buildings. Partially covered parking for one car. Right behind Oleana Restaurant. SOLD for $630,000.

Deck off master bedroom at 141 Elm

6. 11 Wright #3. Top floor 2-br, 2-bath condo close to Harvard Square with GARAGE PARKING plus one additional off-street parking space. Sky high ceilings here another added bonus. A Hammond Real Estate listing. SOLD for $646,300.

5. 57 Regent #4. A loft-style 2-br, 2-bath condo with its own private entrance and off-street parking for two cars. Close to the commuter rail line in Porter Square. I served as the listing agent at Hammond Real Estate for this offering, which SOLD for $658,000.

Private entrance for loft-style residence at 57 Regent #4.

4. 988 Memorial Drive Unit 403. Renovated 1,242 square foot 2-br, 2-bath unit with views of the Charles River. A Hammond Real Estate listing. This residence features in-unit side-by-side laundry, a rarity in this building. SOLD for $715,000.

3. 28 Clinton. I served as the listing broker at Hammond Real Estaet for this offering. A picture-perfect Victorian townhome on four levels with the look and feel of a single family. Multiple offers and SOLD for $935,250 (over the asking price of $929,000).

Handsome front facade of 28 Clinton in Mid Cambridge.

2. 11 Avon. New construction end unit townhouse with 3 bedrooms and 2.5 baths and garage parking with direct access to the residence. A Hammond Real Estate listing. A highlight here is the expansive private back yard. SOLD for $1,295,000. A Guy Asaph project – one of three in the association.

Expansive back yard at 11 Avon.

1. 128 Oxford. WOW! What a space. A Hammond Real Estate listing. One of the most dramatic residences I have ever seen in Cambridge. A carpentry shop (1908) was comprehensively renovated by S&H to incorporate luxury and comfort into a superb loft-style layout. Fantastic spaces, unusually high ceilings with skylights. Set back from street. A hidden gem. SOLD for $1,700,000.

Dramatic open plan main living area at 128 Oxford.

Are you looking to buy or sell in Cambridge? I am a Harvard graduate, Cambridge resident, and top real estate broker in the area since 1999. To gain access to photos and descriptions of all MLS properties now for sale in Cambridge and Somerville, MA log in as as new visitor at CharlesCherney.com.

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60 Magnolia Avenue #3 is now SOLD. It closed on January 27, 2012 for $405,000. I served as the listing broker for the seller. 60 Magnolia Avenue #3 is a delightful light-filled top floor two-bedroom condo near Harvard and close to Inman Square in Mid-Cambridge. 60 Magnolia Avenue #3 scores a 91 on Walk Score - Walker’s Paradise! Out front you will find trees and white picket fences and brick sidewalks in a classic Cambridge neighborhood. At the end of the block is Kirkland Village, home to Savenor’s Market (where world-famous chef Julia Child shopped in her Cambridge days) and The Wine and Cheese Cask (offering the area’s best selection of wine and cheese from around the world). You will also find several restaurants (including Bergamot) and a very inviting cafe - The Biscuit. All this and more on your doorstep!

60 Magnolia Avenue - brick sidewalks make the block even more appealing. A classic Cambridge neighborhood.

The Biscuit - great cafe in Kirkland Village near 60 Magnolia.

Just as inviting as the neighborhood is 60 Magnolia Avenue #3 itself. Located on the top floor, this 2007 renovated residence is part of a four-unit association, with all units owner-occupied.

Especially appealing is the layout of 60 Magnolia Avenue #3. The main living area is a very functional L-shape, with the living room and dining room and kitchen flowing together but still functioning as discrete areas. Ceiling height of 8.5′ makes the rooms inviting – as does the gas fireplace in the corner of the dining room and visible from all principal rooms.

Living room at 60 Magnolia Avenue Unit 3.

Dining room with gas fireplace.

The kitchen at 60 Magnolia Avenue #3 features stainless steel appliances and granite countertops and has been impeccably maintained since being renovated. Everyone will LOVE the walk-in laundry closet off the kitchen, complete with full-size stack machines, included in the sale.

Spacious and inviting kitchen with door to private deck.

A real highlight of 60 Magnolia Avenue #3 is the expansive 16 x 9 covered deck accessible via a glass slider door off the kitchen (see above). To find a deck this size for a condo in Cambridge is RARE. As an added bonus, the deck is newly rebuilt in 2011!

Dynamite private deck for 60 Magnolia #3. Party time!

Another appealing aspect of 60 Magnolia Avenue #3 is the separation of the bedrooms from the main living area. Both bedrooms and the full bath are off the central hall. The master bedroom is located at the end of the hall and apart from the rest of the residence – ideal for privacy. The master bedroom itself is well served by a big bay with oversized windows and a good-size closet with built-ins to maximize efficiency.

Spacious master bedroom is ideally situated at end of hall.

The second bedroom at 60 Magnolia Avenue #3 is as big as some master bedrooms in other condos in this price range. As for the full bath, it is also refreshingly large and served by a good-size vanity and shower-tub. A big window adjacent to the sink brings in lots of natural light.

Full bath is striking for its size and light.

Extras at 60 Magnolia Avenue #3 include central air conditioning, hardwood floors, and replacement windows. To top if off, there is a private storage room on the lower level, accessible via the back stairs.

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

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

The Cambridge and Somerville Real Estate Blog.

 

New luxury condos overlooking bike path outside Davis Square. Visit www.DiscoverDavisSquare.com.

It is interesting to reflect on the MLS condo sales figures in Somerville, Massachusetts for 2011 compared to 2010, and to take stock of where we are at in 2012.

Click on 2011 Somerville, MA condo sales for an overview of 2011.

Click on 2010 Somerville, MA condo sales for an overview of 2010.

Let’s see what observations can be made about the sales in 2011 compared to 2010.

Observations regarding Somerville, MA condo sales in 2011 vs. 2010:

- Total sales volume in 2011 was $136,783,500 – down $4,653,618 or 3% from 2010.

- Total number of sales in 2011 was 350, down 24 condos or 6% from 2010.

- Average days on market in 2011 was 89, up from 84 in 2010.

- Average sale price in 2011 was  $390,810, up 3% from an average sale price of $378,174 in 2010.

- Yield on the original list price was 95% in 2011, compared to 96% in 2010.

- Yield on the last asking price was 98% in 2011, exactly the same as in 2010.

Overall, one can conclude that the condo market in Somerville, MA in 2011 was very stable and in line with 2010.

Let’s now look at the market by price range:

Price range                2011 sales      2010 sales     Differential
0 to $499,999               287                   315                   -28 fewer condos in 2011
$500 to $999,999          61                     59                    +2 more condos in 2011
$1.0 and up                      2                      0                      +2 more condos in 2011

These numbers paint a picture of a healthy condo market in Somerville, MA at the end of 2011. It is especially interesting to note that in 2010, there were NO condo sales for more than $800,000 in Somerville, MA , while in 2011 there were 10 condo sales in Somerville, MA north of $800,000, including 7 condo sales between $900,000 and $1,000,000!

It will be interesting to see how the Somerville, MA condo market plays out in 2012. See on market snapshot for Somerville, MA condos today compared to one year ago today. There were 95 condos for sale in Somerville, MA on January 24, 2011. Today, on January 24, 2012, there are 85 condos for sale in Somerville, MA. There are now 64 condos for sale below $500,000 compared to 82 condos a year ago below $500,000. Between $500,000 and $1.0, there are 7 more condos for sale today compared to a year ago. North of a million, there is one condo for sale in Somerville, MA today.

I would be happy to share with you additional thoughts and insights about the market and be of assistance to you with buying or selling. If you are considering buying or selling real estate in Somerville or Cambridge, I am here to help. I can be reached at ccherney@hammondre.com or 617-733-8937. I am a Harvard graduate, an Inman Square resident and a top broker in Cambridge & Somerville since 1999.

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

The Cambridge and Somerville Real Estate Blog.