Paul’s Condo Trends – January 2013

Somerville Condos

Somerville Summary: January condo inventory is at record lows, down 43% from a year ago. ~ Listing $ Volume was down by 40% from $33 million to nearly $20 million in total market value. ~ The median list price increased by 6% with the active days on market shrinking 30 days to just over 2 months. ~ Condos going under agreement improved by 26% from a year ago.

Somerville Condo Sales Chart

The number of condos sold for January went up by 26%. ~ Somerville condo Sold $ Volume for went up 16% from $15 million in sales to over $17 million. ~ Sold average days on market improved by 48 days and the median sale price  improved by 13%. The original price to sale price ratio jumped by 7% of the original list price due to competitive bidding. ~ The average square foot price was up by $60 per square foot with the average condo living area remaining about the same.

While also on Broker Tour !

Several of the RE/MAX Destiny agents were treated to a great tour of the NorthPoint complex in East Cambridge. Amy Clements & Clare McDermott were wonderful hosts, in addition to our tour they shared the larger plans for the complex still yet to come. A big Thank You to Amy and Clare for their time and to Terrie Hayden for arranging the broker tour.

NorthPoint 4

NorthPoint 5
NorthPoint 1

Join Us In Welcoming Our Newest Member !

Please join us in welcoming Joe Fallon to RE/MAX Destiny. Joe will be                                                                     joining us at our soon to be open JamaicaWeb Plain office where he has been a resident for 10 years. Joe started his career in real estate as a rental department manager and has grown into a top producing real estate consultant.

Prior to real estate, Joe’s professional background consisted of Business Management and Special Event planning and marketing. From budgeting and forecasting to operations and logistics, Joe’s resume seems to have been preparing him for his current role in real estate.

Joe is very active in the Jamaica Plain community as a neighbor as well as a business person and is often quoted by local media outlets like NPR, JP Gazette, and JP Patch. A strong supporter of the arts, he also curates many shows in the area and has been known to perform as well.

When asked why he joined, Joe said “I have always thought that RE/MAX had a great presence in the market, as well as a very well done Television ad campaign that reminds people of why. But another important reason for my joining the RE/MAX team is because of the many RE/MAX agents I have been lucky enough to work within the past on the other side of transactions I have been involved in. They have always been professional, competent and friendly, showing strong relationships with their clients. These are all attributes I like to maintain for myself as well. All of these reasons, in addition to how well RE/MAX agents speak of their experiences with the company made my decision to join and easy one.”

 

Contact Joe
Cell: 617-594-0761
e-mail: jpfallon@gmail.com
907 Massachusetts Ave.
Cambridge, MA 02139
617-576-3800

 

Home Sweet Home!

My New Desk

Written By: Elizabeth Bolton

In October, after 12 years at 171 Huron Ave – first at DeWolfe and then Coldwell Banker – I moved across Cambridge to RE/MAX Destiny.

I’m thrilled by the move – and now that I’ve finally unpacked I thought I’d introduce you to my new office.

Over the years many of my favorite agents had moved to RE/MAX and I’m delighted to join them.  Coincidentally, all four of us in my room were formerly at DeWolfe.  The admin and marketing staff at RE/MAX Destiny is top notch and such a pleasure to work with.  The office has all the real estate bases covered with a property management division, commercial real estate agents, a super rental department, and close to 50 residential real estate agents.

My new office address is 907 Massachusetts Ave.  It’s a very different feel than Huron Ave with lots of foot traffic well into the evening and easy access to the Red Line at Central or Harvard.  The convenience of being just down the street from City Hall and the post office can’t be beat and I love walking around Mid-Cambridge when I leave the office.  I’ve yet to find a nearby place for a slice of pizza (where’s my new Armando’s?) but there are plenty of restaurants to explore.  Come join me for lunch when you’re in the neighborhood!

Before I packed up I made sure to photograph my old desk:

This was my desk at Coldwell Banker

This was my desk at Coldwell Banker

And here’s my new space.  It’s really sweet – you can’t see the wide board floors or the wall of windows overlooking Hancock Street and Mass Ave.

My new desk at ReMax Destiny

My new desk at RE/MAX Destiny

If you’re in the neighborhood stop by RE/MAX  at 907 Mass Ave and say hi!

Join Us In Welcoming Our Newest Member

Welcome Rose Wright wright,Rose

We are very pleased to announce that Rose Wright has joined RE/MAX Destiny. Rose is a lifelong resident of Boston and a graduate of Cambridge College with a master’s degree in Elementary Education, as well as a graduate of Boston College with a Master’s in Social Work and Administration.

She is an Accredited Buyer’s Representative (ABR) and has been matching buyers and sellers with the right properties since 2004. Rose is honest, ethical and dependable and committed to her field. When Rose isn’t working with her clients, she spends her time with her 5 adult children and 7 grandchildren and is very active within the church community.

When asked why she joined, Rose said “I found the company’s philosophy and practices that focus on agents to be refreshing. I experienced agents, managers and staff to be very knowledgeable, welcoming and supportive. I also believe the tools, training and mentorship will be extremely beneficial to me at this time in my career.  I am very optimistic about my decision to join RE/MAX Destiny.

Pie it Forward raises over $32,000 to help those in need

We are so proud to work with agents that give back to the community in such a positive way. GREAT JOB Tamela and Juan and the Pie it Forward Team for working with the Pie in the Sky fundraiser at Community Servings. They were the #1 pie selling team and raised over $32,000 to help those in need.

 

TeamPIF2012

TEAM PIE IT FORWARD SOLD OVER 1,100 THANKSGIVING PIES

FOR COMMUNITY SERVINGS

 

Cambridge, MA (Jan. 15, 2013) – Eleven volunteers of Team Pie It Forward sold 1,191 pies and raised $32,451 for the 20th Annual “Pie In The Sky” Thanksgiving bake sale which benefits clients of Community Servings.  Team Pie It Forward raised an additional $2,400 for the Community FoodBank of New Jersey to help those still struggling to survive the impact of Hurricane Sandy.

Team Pie It Forward includes members Mike Bavuso, President, Big Foot Moving & Storage, Inc.; Brian Jurgens, Sr. VP, W.T. Kenney Company, Inc.; Karen Coleman, VP, Advance Restaurant Finance; Patrick F. Dwyer & Assoc. LLC; Kathleen Wentworth, Sr. Loan Originator, Leader Bank; Joseph Aceto; Juan Murray, Realtor®, RE/MAX Destiny; Mary Dean McKee, Gordon Brothers Group; Rich McKee, Big Foot Moving & Storage, Inc.; Gabriella Innella, SurfaceWorks, Inc. and Tamela Roche, Realtor®, RE/MAX Destiny, Team Captain.

The 20th Annual “Pie In The Sky” Thanksgiving Pie bake sale was a huge success with over 16,000 pies sold and more than $565,000 raised for Community Servings.  Hundreds of volunteers sell and deliver Thanksgiving pies baked by Boston’s finest chefs who donate their time, culinary expertise and ingredients.

“The exceptional fundraising success achieved by Community Servings is a testament to leadership steadfast in their mission; from farm to table at every level of the organization possible.” said Team Captain, Tamela Roche.  “Very few non-profits can return 93 cents of every dollar raised in a fundraising event.  Even fewer foster the kind of loyalty and enthusiasm for volunteering the way Community Servings has for twenty years.”

Team Pie It Forward helped box thousands of pies and delivered over 500 to several local companies including Ariad Pharmaceutical, William Gallagher and Associates, Cambridge Offset Printing, Patriot Financial Group, The Appraiser’s Group, Sirois Electric, Inc. and RE/MAX Destiny thanks to Mike Bavuso, President of Big Foot Moving & Storage, Inc. who generously donated crew and moving trucks.  Mike Bavuso is once again named “King of Pie” for the team, selling 395 pies and raising over $10,000!

Community Servings is a free, home-delivery meals program for the acutely ill, their families and their caregivers throughout Massachusetts who are battling 35 types of critical illnesses including HIV/AIDS, Cancer, Lupus, Diabetes and MS.  Since 1990, Community Servings’ founding goals are to help clients maintain their health and dignity, to provide nutritionally and culturally appropriate meals, to preserve the integrity of their family and send the message that someone cares.  For information about Team Pie It Forward contact Tamela Roche, Team Captain, at 617.245.4072 or visit www.pieitforward.com.  For more information about Community Servings visit www.servings.org or www.pieinthesky.org.

 

Cambridge Years End Condo Trends 2012

Cambridge Condo Trends 2012

Cambridge Summary: It might seem odd, however inventory has improved to -14% compared to December of last year. ~ Condo listing $ volume exceeded last year by 2% from $ 49 million to 50 million in total condo market value. ~ The median list price is up by 23% with days on market improving by 35 days to around 3 months before going off market. ~ Condos that went under agreement for the month rose by 28%.

Cambridge Condo Sales Chart 2012

Cambridge condo sales, month to date, are up 5% with year to date number of sold condos increasing by 17%. Sold $ volume ended strong up 20% from $355 million in 2011 to $427 million in 2012. The median sale price increased by a modest 2% with the ratio of sale price to original price up 99% due to multiple offer bidding and reduced time on market. ~ The average square foot price for December rose to $508 per square foot compared to $451 last year with the average living area at 1,160 square feet.

Somerville Year End Condo Trends 2012

somerville condo trends 2012

Somerville Summary: December condo inventory remained at record lows, down 60% from a year ago. ~ Listing $ Volume mirrored this, down 58% from $35 million to $14 million in total market value. ~ The median list price decreased by a modest 3% with the active days on market less than 2 months. ~ Condos going under agreement improved by 12% from a year a

Somerville Condo Trends December 2012

 

Condos sold for the month were up big by 76% with year end sales up 29%. ~ Somerville Condo Sold $ Volume for 2012 went up 33% from year end last year. ~ Sold average days on market remained less than 2 months and the median sale price improved by 13%. The original price to sale price ratio remained high at 97% of the original list price due to competitive bidding. ~ The average square foot price was $335 per square foot with the average condo living area at 1,183 square feet.