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Home Buying in Cambridge : Real Estate Advice

  • All155
  • Local Info7
  • Home Buying42
  • Home Selling9
  • Market Conditions6

Activity 53
Mon Apr 28, 2008
Michael Giles answered:
Hi St,
If nothing else changes in the neighborhood over the next five years, and you are paying market value today, the value should rise and fall with the market. Also, be careful when making renovations that you don't over spend for the neighborhood. ... more
0 votes 3 answers Share Flag
Sun Sep 23, 2012
Ryan Wanger answered:
If Davis Square in Somerville isn't too far, try the Davis Square Lofts on Tannery Brook. Less than 5 min walk to the Red Line. Some of the buildings are new construction while others are historic. ... more
0 votes 11 answers Share Flag
Wed Apr 9, 2008
Territory.com answered:
Central Square is a great place to invest. It is sandwiched between Harvard and MIT and those schools dump a lot of money into the area and aren't going anywhere. That said, you should never buy a place for the price the owner bought it simply because they are avoiding short sale mode. Sounds like she is sticking to her price not because it is the market value but because if she goes lower she will be in short sale territory which is not good. Now, in the case the property is actually valued at that price then it would make sense to consider buying at her price.

Bottom line, and i have had to advise my clients on this a lot recently because of all the short sales and foreclosures, don't feel pressured to buy the place because the seller has put themselves in a financial bind. Only buy it at that price if you absolutely love it/have to have it or if the price is in line with the market value.

If you are comfortable, post the address and I will tell you if it is over priced.
Good luck!
... more
0 votes 8 answers Share Flag
Fri Apr 4, 2008
Scott A. Nelson answered:
You could also look at Medford, I'm born and raised here and I like it.
0 votes 5 answers Share Flag
Thu Mar 27, 2008
Jon Ernest answered:
It's not very common for that to be straight out presented as an option from a seller. But that doesn't mean that any seller wouldn't be open to the idea... You can make it part of your offer. If they need their equity to make a downpayment somewhere else... they might say no.... but it never hurts to ask. ... more
0 votes 1 answer Share Flag
Thu Mar 27, 2008
Greg Kiely answered:
Eve,

Cambridge and Somerville have a ton of options for people in your situation. The public transportation in those areas is great and the range of prices and amenities runs the full spectrum. Condos should fall within the low to mid $300 per square foot range. Townhouses will be harder to find. Do you have any more specific information you are looking for?

Greg Kiely
... more
0 votes 7 answers Share Flag
Mon Mar 10, 2008
Brecht Palombo answered:
There is a board. I can tell you from a recent case they are ssssssssllloooowww and nothing you said here is any violation so you're not going to get very far pursuing anything.

Yes you should always have a lawyer. Yes there is a painfully low barrier to entry in the profession and a bunch of yahoos get in the business. BUT just because the property is still on the market doesn't mean there weren't other offers. I have 2 properties that have gotten into competitive bid situations lately only to have the winning bidder not perform - the fact that you didn't get a call from the agent to say " hey still want to buy? the thing fell apart" is not good salesmanship but is not unethical.

Clearly you should have had some notice about the seller being short but the fact is sellers aren't always upfront with their problems. Sometimes they aren't even organized enough to know they have a problem. And sometimes their just too embarrassed to say anything, people are people.

Count on it being a pretty wild ride out there for a while. Be patient. Buy smart.
... more
0 votes 7 answers Share Flag
Thu Feb 7, 2008
Andrew Adams answered:
The home inspector will be able to give you an idea of how old the roof was. I would be a little curious as to the seller can't or won't at least show you receipts/invoices for the materials used in the renovation. ... more
0 votes 35 answers Share Flag
Thu Jan 3, 2008
Veronique Mendelson answered:
The 3 units sold last August! Are you interested about something similar?
Just let me know!
Veronique
617-477-5079
0 votes 1 answer Share Flag
Fri Apr 26, 2013
Durenda Fachtmann CEC CRS GRI answered:
Min,

Just a suggestion that has worked well for some of my clients:


Go to the local permitting office and ask them to give you the names of several tradespersons in each category.

The recommendations from them will probably be the tradespersons who properly pull permits and do the quality of work that pass their inspections.

From that list, get written quotes and time frames from each tradesperson in each category.

Best of luck
... more
0 votes 8 answers Share Flag
Thu Oct 18, 2007
Julie Duncan answered:
Hi Wendy,

If a second space is needed, parking in Cambridge is priceless - as are single families. If all else is equal, and the property you want has 2 spaces, it would be worth it to pay more than if it had one...even if you don't need the space yourself. How much more? definitely would depend on the price/location of the home, but I'd say between 10 and 20K . Each property must be evaluated independly, and with the help of an experienced professional.

If you are not currently under contract with a Buyer's Agent - you should be. A Buyer's Agent will do an analysis of the property for you to help you determine the "right" price. If you are looking for a Buyer's Agent to work with, let me know and we can talk and see if we would make a good Home Buying Team.

Julie Duncan
RE/MAX Landmark
julieduncan@remax.net

I strive to provide a painless and pleasureable Real Estate experience for my clients.
... more
0 votes 2 answers Share Flag
Wed Sep 19, 2007
Paul Slaybaugh answered:
The registrar of contractors and the local chapter of the Better Business Bureau are good places to start. You could also check with local Department of Real Estate to see if there are any disciplinary actions on file for any liscencees under the developer's employ. Equally important is speaking with a local Realtor who can give you an idea of the particular builder's reputation in the industry. Representation is just as important on a new-build as it is for a resale transaction. Best of luck! ... more
0 votes 3 answers Share Flag
Sun Jun 30, 2013
Trulia Roger answered:
Hi John,
Congrats on your purchase!
Trulia will get information about the transaction in the near future from one of our data providers. If we still display your listing as for sale, you can let us know about the problem by going to the Trulia property page and clicking on the "Report an error" button. ... more
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