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.

The Cambridge and Somerville Real Estate Blog.

28 Clinton in Mid Cambridge. I listed and sold this condo in 2011 for $935,250. The list price was $929,000.

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

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

Click on 2010 Cambridge, 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 Cambridge, MA condo sales in 2011 vs. 2010:
- Total sales volume in 2011 was $355,475,682 – up $28,767,172 or 8% from 2010.
- Total number of sales in 2011 was 713, up 51 condos or 7% from 2010.
- Average days on market in 2011 was 82, exactly the same as in 2010.
- Average sale price in 2011 was  $498,563, up 6.5% from an average sale price of $493,517 in 2010.
- Yield on the original list price was 95% in 2011, compared to 96% in 2010.
- Yield on the last asking price was 97% in 2011, exactly the same as in 2010.

Overall, one can conclude that the condo in Cambridge, MA in 2011 was very stable and slightly improved over 2010.

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

Price range                2011 sales      2010 sales     Differential
0 to $499,999               483                    447                   +36 more condos in 2011
$500 to $999,999        203                    189                   +14 more condos in 2011
$1.0 and up                     27                    26                     +1 more condos in 2011

These numbers paint a picture of a healthy condo market in Cambridge at the end of 2011.

It will be interesting to see how the Cambridge, MA condo market plays out in 2012. See on market snapshot for Cambridge, MA condos today compared to one year ago today. There were 171 condos for sale in Cambridge, MA on January 23, 2011. Today, on January 23, 2012, there are 92 condos for sale in Cambridge, MA. There are now 53 condos for sale below $500,000 compared to 106 condos a year ago below $500,000. Between $500,000 and $1.0, there are 22 fewer condos for sale today compared to a year ago. North of a million, there are 4 fewer condos for sale today than a year ago.

What impact will reduced inventory have on Cambridge condo prices in 2012? If demand remains on par with last year and inventory does not catch up with last year’s supply, one would expect prices to rise. The reduced inventory levels are surprising, especially when one considers that we are having a mild winter and hence weather is not a likely explanation for why there are fewer listings today compared to a year ago today. Indeed, a year ago today, we were still under siege with the snow. If anything, one would have expected fewer listings a year ago today. Go figure.

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 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 Cambridge & Somerville 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.

The Cambridge Real Estate Blog.

It is interesting to reflect on the MLS single family sales figures in Cambridge, Massachusetts for 2011 compared to 2010.

Click on 2011 Cambridge, MA single family sales for an overview of 2011.

Click on 2010 Cambridge, MA single family sales for an overview of 2010.

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

Observations regarding Cambridge, MA single family sales in 2011 vs. 2010:
- Total sales volume in 2011 was $122,531,413 – down $25,620,380 or 17% from 2010.
- Total number of sales in 2011 was 114, down 15 houses or 12% from 2010.
- Average days on market in 2011 was 69, down from an average of 72 days on market in 2010.
- Average sale price in 2011 was  $1,074,837, down 6.5% from an average of $1,148,386 in 2010.
- Yield on the original list price was 95% in 2011, compared to 94% in 2010.
- Yield on the last asking price was 98% in 2011, compared to 97% in 2010.

Overall, one can conclude that the single family market in Cambridge, MA in 2011 was stable and slightly contracted.

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

Price range                2011 sales      2010 sales     Differential
0 to $499,999             17                      26                     -9 single families
$500 to $999,999      57                      45                     +12 single families
$1.0 to $1,499,999    20                      28                     -8 single families
$1.5 to $1,999,999      6                       11                    -5 single families
$2.0 to $2,499,999      6                         9                    -3 single families
$2.5 to $2,999,999      2                         4                    -2 single families
$3.0+                              6                         6                    same number of single families sold

Observations:
Under $1,000,000, the market is +3 houses in 2011 compared to 2010: STABLE.
$3.0+ the number of sales is the same in 2011 and 210: STABLE.
The contraction in the market is in the price range between $1.0 and $2,999,999, with 18 fewer sales in 2011 compared to 2010.

It will be interesting to see how the single family market plays out in 2012. See on market snapshot for today compared to one year ago today.

There were 23 single family properties for sale in Cambridge, MA on January 17, 2011. Today, on January 17, 2012, there are 11 single family properties for sale in Cambridge, MA. There are now  7 singles for sale compared to 13 a year ago below $1,000,000 and now 2 (!) singles for sale compared to 9 a year ago between $1.0 and $1,999,999.

It will be interesting to see what this contraction in the market means in terms of value moving forward in time. If demand remains constant and supply slips, one would expect prices to rise.

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 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 Cambridge & Somerville 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.

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.

Notable among the residents of 16 Chauncy Street over the years is author Vladimir Nabokov. In her book on the history of 16 Chauncy, authore and former 16 Chauncy resident Ann Petrone notes that in 1956, Nabokov lived  in unit 10, shortly after the publication of Lolita. Nabokov’s time in residence here is duly noted by a plaque near the entrance to the building:

View of inviting reading nook with custom built-ins at unit 15 at 16 Chauncy outside of Harvard Square.

16 Chauncy Street #15 has now SOLD. If you are interested in learning about condos now for sale at 16 Chauncy or elsewhere 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.

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.

A dessert at Harvest in Cambridge

Harvest | Oysters from Duxbury, produce from Concord
44 Brattle Street
www.HarvestCambridge.com

Sofra Bakery & Cafe | Produce from Sudbury and Concord
1 Belmont Street
www.SofraBakery.com

Schrod from Gloucester at Henrietta's Table

Henrietta’s Table | Cheese from Carlisle, clams from Wellfleet, scrod from Gloucester, wine from Westport, meat from various farms
1 Bennett Street
www.HenriettasTable.com

Rendezvous Central Square | Fruit from Pepperell, Veggies from Dartmouth, Clams from Wellfleet
502 Mass Ave
www.RendezvousCentralSquare.com

A farm-fresh plate at Garden at the Cellar

Garden at the Cellar | Oysters from Duxbury, Dairy products from Marion, produce and herbs from Groton
991 Mass Ave
www.GardenAtTheCellar.com

Stone Hearth Pizza | Cheese from Marion, Produce from Brimfield and Concord
1782 Mass Ave
www.StoneHearthPizza.com

View the full list of restaurants that buy local in Cambridge MA on FarmFresh.org.

If you are interested in browsing the latest Cambridge real estate listings, real estate agent Charles Cherney is here to help. Charles can be reached at ccherney@hammondre.com or 617-733-8937. Charles is 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

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.