Wellesley & Weston Real Estate News

Nov. 17, 2023

Market Update Week of 11/17/2023

Listen closely, and you will hear a sigh of relief. Look closely, and you will see a big smile on the faces of those who follow the economy. Retail sales slowed and inflation is cooling overall, just what the Federal Reserve aimed to do. If the economy resets, the hope is interest rates inch down in the coming months for the first time in a long time. Although many say we won't see that happen anytime soon. The stock market liked the shift this week and reacted favorably.


Mortgage rates adjusted down slightly in the last week, but not enough to ignite refinances or a rush to buy. They stand at roughly where we were last year at this time. Nothing to celebrate just yet.

The Mortgage Reports Operated by Full Beaker, Inc

I am feeling VERY optimistic about the activity that is to come after the new year. In my pipeline, I have excited and eager buyers and sellers who are determined to make a move in 2024. I will be thrilled to share some fabulous listings that I know will be a welcome addition to the stale inventory we have now. Although a look at the weekly numbers is reassuring since properties going under agreement far outpace new listings. A final push before the holidays. 


Colleagues nationally will be frustrated by my optimism I am sure, but when it comes to the Boston area, people consistently want to live here. Yes, the weather isn't ideal, and our taxes aren't the lowest, but the quality of life is high, and it's a great place to raise a family. In fact, the top luxury market in the US right now is very close to home, according to the website Mansion Global—it's Portland, Maine! The influx of people heading to the Boston area feeds into nearby markets, that in turn benefit satellite cities. The other top 10 hot destinations included in the article may surprise you. I am personally quite happy to see Wilmington, NC on the list as that is where a bulk of my real estate investments live!

Wherever you are heading next week- I hope you have a fabulous Thanksgiving!! 

I'm always available and more than happy to provide an analysis for you! Email me at teri@mgsgrouprealestate.com or call at 617-306-3642 to schedule a meeting.

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Posted in MGS Group
Nov. 9, 2023

Market Update Week of 11/09/2023

Don't buy your primary home thinking it's a money-maker! High prices coupled with lofty mortgage rates plus closing costs make this market the least affordable and hardest to break into in decades. That means it will take you longer than in the past to recoup those costs and break even. This is according to an article posted by Yahoo and Zillow.

I always caution buyers not to think of their purchase as an investment, but as a place to seek comfort, relax, and build memories. About three years ago, that narrative flipped of course. Cashing in for big profits became the primary motivation to sell understandably. If you didn't need to buy a property on the other end of the equation that made excellent financial sense.

"New homebuyers can expect to spend about 13.5 years in their house before breaking even on their investment," Nicole Bachaud, a senior economist at Zillow, wrote in the report released Monday. Zillow’s analysis took into account typical and forecasted home value increases based on the Zillow Home Value Index, assumptions for closing costs, agent fees at the time of sale, maintenance costs, and interest payments." This was based on July's sales statistics. Interesting point. Hard to make a blanket statement as different geographical areas will react differently. I think metro areas such as Boston and emerging markets will still show growth.

If this plays out and it takes time to break even, it is not enough to halt markets since making money isn't the main reason people buy homes. They are typically motivated to improve their quality of life, are switching jobs, trading up or down or experiencing a change in their family structure. That said, buying can still benefit you financially by helping you build long-term wealth through equity and ultimately appreciation. 


Thank you to everyone who sent me notes, excited by the encouraging economic news. NAR's chief economist, Lawrence Yun, recently shared his analysis of what is to come.


"The bond market is reacting as if the Fed will be cutting rates in 2024. The key benchmark 10-year Treasury yield slid down to 4.55% and is below a recent high of 5%. That means mortgage rates will be coming down. The 30-year fixed rate will stick in the 7% range for this year but looks to move down into the 6% range by the spring of next year. Moreover, if the spread between Treasury and mortgage were to move from the current abnormal high to just the historical average, the mortgage rates today would already be in the 6.2% to 6.7% range. Be ready for more home buyers and more home sellers.”


Our local market is spotty. Alerts or price changes are flashing across emails, while others are pulling listings off MLS as we edge towards the holidays. A few well-priced gems were scooped up quickly since buyers feel satisfied that they have seen all the inventory that will come on this year, and they won't be missing out on anything new in the coming weeks. We start 2024 with low inventory all around us once again. Have a good week!!

11 Winding River Circle, Wellesley

Click here for 11 Winding River Circle

I'm always available and more than happy to provide an analysis for you! Email me at teri@mgsgrouprealestate.com or call at 617-306-3642 to schedule a meeting.

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Posted in MGS Group
Nov. 3, 2023

Market Update Week of 11/03/2023

There is a disconnect going on between buyers and sellers. We see this when a market is poised to change. I am cautious in saying this however, as last fall I was writing the same thing worried about what was to come and in the end the slowdown was a little bit of interest rates and a lot of a seasonal effect. Fourth quarter of 2022 there was a noticeable slowdown in volume, but as soon as the new year began, spring of 2023 was back to bidding wars and the real estate frenzy. Perhaps this is a pattern that we should come to expect.

The stress I am sensing at this moment is from sellers tied to a price that reflects the high flying sales they read about or saw in years past. The "make me move number" in their heads isn't always realistic and can result in a long and sometimes stale period on the market. If they won't negotiate they are turning away realistic offers and this can be frustrating. More motivated sellers are now reducing their prices in order to capture a sale before the holidays arrive. Buyers are more cautious and while willing to reward sellers with a significant profit from when they bought, no one wants to grossly overpay for a house- especially if they are financing at high rates and have to do updates to the property in the future. In order to move forward in these situations there has to be reflection by both sides in order to come to an agreement.


A careful and realistic analysis of the market is critical in pricing for these sellers. Examining past sales that are comparable, acknowledging improvements you made or didn't make and knowing the demand for your property helps form a pricing strategy. You need a skilled agent to do this! There is a property on the market now where the seller is asking 100% more than he bought it for about 10 years ago. During that period they didn't do any capital improvements. That kind of return just won't happen.

The Federal Reserve announced this week they will not raise rates at this time. This will keep the 30 year fixed rate close to 8%. Not ideal for most people, so mortgage brokers are on the sidelines trying to be creative in order to create more affordability for their clients. Here is the latest strategy they are using. In an offer the buyer asks the seller to give a credit that will in turn be used to pay for points to buy down a mortgage rate, thus helping them afford the house. It's a creative strategy detailed below!

Happening Events Coming Up


Fall means fun- here are some local events to keep an eye out for!

The 34th Spelling Bee is Almost Here!

November 8th 2023

7pm at WHS

Come support me and MGS Group at the Wellesley Spelling Bee!! All funds raised through the Spelling Bee are for the Wellesley Education Foundation and go directly to support programs that advance innovation and excellence in the Wellesley Public Schools.

Marie Schiller, a longtime Wellesley resident, is hosting a reception at Lockheart restaurant on November 13th from 6-8 pm to build awareness and support for young adults living with diabetes. Marie serves on the Board of Directors for a non-profit, The Diabetes Link., whose mission is to ensure all young adults with diabetes are empowered to thrive through this typically challenging period of life. The organization is pushing to expand its reach so they can help the hundreds of thousands of young adults who could benefit from its resources. If you are interested in attending, please RSVP to Marie Schiller at marie@thediabeteslink.org.


Discover the Magic: Wellesley's Enchanting Holiday Market Place with 200+ Unique Vendors 

I am a proud sponsor once again! Join me in supporting the festive sprit at the Wellesley Marketplace - where community and holiday cheer come together. 

Exclusive Listings

91 Dean Road, Weston

Click Here for 91 Dean Road

11 Winding River Circle, Wellesley

Click here for 11 Winding River Circle

I'm always available and more than happy to provide an analysis for you! Email me at teri@mgsgrouprealestate.com or call at 617-306-3642 to schedule a meeting.

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Posted in Home Ownership
Oct. 20, 2023

Market Update Week of 10/20/2023

We are at a 23 year high right now! I am talking about interest rates this week that surged to nearly 8%. This seems to satisfy the federal reserve for now which indicated it will show restraint at its next meeting and hold steady without an increase. Hopefully a mortgage rate that kisses 9% doesn't seem likely right now, or hopefully ever!

While putting in an offer for my buyers last night we scrambled to connect with mortgage brokers. It seems we landed a rate in the high 6%'s which will be an adjustable product. (fixed rate for 5-7 years with an increase after that) That lessens the monthly payment! I was impressed with my buyer's resolve to get their dream home. They were certainly bold and decisive and it paid off. Well done and congratulations!

Other players in the fall market, at least around here, seem just as determined to buy or sell their home and they aren't allowing much to scare them away. This week a stunning amount of properties went under contract quickly! The time on the market for most of those was just a matter of days with the exception of some high end listings which took a few weeks/months to sell after a price reduction. What's not shown her are houses that sold "off market", meaning not on MLS. They also boasted some hefty price tags demonstrating there is still life in the luxury sector. 

Move quickly on a house you like, because there is a good chance it will be scooped up by someone else if you don't. Updated colonial homes that are set in very desired locations are in demand. Condition, location and pricing equals a win- during all real estate climates. Don't stray from the basics!


A few weeks from now as we edge towards Thanksgiving, I guarantee we will see a sleepier market. That will just be a symptom that you and I will be hunkering down for the holidays.


The Israel- Hamas war is in the back of my minds as I try to focus on tasks that must be done. Each day there is great worry for my family in Israel who have lost friends or friends of friends from the terrorist attack. It is concerning the uptick of anti-semitism that's around us, but it's also so comforting to hear from clients and friends who stand up against hate and support the Jewish people and Israel. Thank you!


On a positive note- it was great to see so many colleagues, friends and clients at our office grand opening. We are so proud of the Metro West MGS Group Office in Linden Square- Wellesley. Stop by if you are in the area!


I'm always available and more than happy to provide an analysis for you! Email me at teri@mgsgrouprealestate.com or call at 617-306-3642 to schedule a meeting.

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Posted in MGS Group
Oct. 7, 2023

Market Update Week of 10/07/2023

There have been some notable price reductions this week, but what caught my attention most was the number of properties that went under agreement in the last few weeks. A stunning amount of homes now have signed contracts, far outpacing the new listings being introduced in those same weeks. The under $2M range is the busiest which is interesting because one would think those are the people most reliant on a mortgage and despite the rates they are still moving forward with plans to buy!

Source from MLS

The race to win most of those properties were the result of bidding wars. (More than one person vying to win the seller's attention.) Not all traded much more than the asking prices, the houses that came on too high will ultimately trade for lower or just what it was listed for. That said, a few of my lenders are offering rates in the mid to high 6% range which is refreshing to see. Reach out as I am happy to share those contacts. 


Next week I will be releasing two beautiful and unique properties in Wellesley and I can already feel the strong demand for them through agents contacting me for more information. 




I believe all this positive news locally builds the case against a housing market crash. An historic view nationally of the inventory and number of foreclosures by Keeping Current Matters (charts below) clearly shows the healthier climate we are in now compared to the 2008 crash. The red lines below are in the range of the last crash- a dramatic point and reassuring as you look at the current time period in the blue. The supply numbers supports the claim, that there is nothing to crash because there are so few houses for sale!


I'm always available and more than happy to provide an analysis for you! Email me at teri@mgsgrouprealestate.com or call at 617-306-3642 to schedule a meeting.

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Posted in MGS Group
Sept. 22, 2023

Market Update Week of 09/22/2023

Is it slow out there? Depends on who you ask!


Some properties which are picture perfect and check off lots of boxes are still at the center of bidding wars. It happened again in Wellesley and Needham last week with a handful of homes priced under $2M! These are the buyers who most likely will take out a mortgage, but despite their rate they are willing to be aggressive and effective.

Courtesy of Adam Goulet- Movement Mortgage

The starting price is important though in determining the demand. If a seller gets greedy and the starting price is unrealistic, their home is going to sit! In two instances my clients offered a reasonable bid on properties that were clearly overpriced. In one scenario we were swiftly told, "no thanks we will wait for our number and with a 2.2% mortgage rate we can hold onto our empty property!" Maybe the real estate gods will grant them their magic number, but not from us.

The higher end properties north of $4M are sitting quietly with anxious agents and sellers behind the scenes. The average days on market for these estates (62 of them) in a sampling of MetroWest towns is about 106 days on market so far! A different story than lower price ranges. 

As I am sure you have heard by now, the Federal Reserve decided not to raise interest rates this week, but promised to do so later in the year and two more times in 2024. This supports my prediction that rates are here to stay for a while. The dream of refinancing down to 5% may be in the distant future, but when that time comes you can bet that sale prices and the demand will go up since the market will be flooded with more people jumping into the game! 

I just launched a fabulous listing in Wellesley. Check it out!



Here is to a great week! Cheers!

I'm always available and more than happy to provide an analysis for you! Email me at teri@mgsgrouprealestate.com or call at 617-306-3642 to schedule a meeting.

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Posted in MGS Group
Sept. 15, 2023

Market Update Week of 09/15/2023

13 offers! That's how many were on a house in Wellesley last weekend, a sign that there is still a strong heartbeat supporting this real estate market. The winning bidder paid roughly 20% over the asking price. Thirteen was an unlucky number for my buyers who lost out after submitting a creative and outstanding offer. This was a solid house that was well cared for by the sellers and within walking distance to downtown Wellesley and Linden Square. (See below) A real tease for the would be owners all itching to call it theirs- interest rates be damned!

The Wall Street Journal reported this week that US home prices rose in July. The national sales price went up by 1.9%. The buyers who are determined and on the hunt are able to focus on what they can control, such as their budgets and the property they want, rather than worrying about rates which out of their control. Buying a house is a mid-long term investment for most people, so chances are when you jump in, you'll immediately see value in the memories you make and the stability you have by being able to call wherever you land home!

Taking care of your domain and protecting your asset is one of the best things you can do! There's a long list of steps we can take each fall to prepare for the long winter ahead. In case you need a reminder- here you go! Happy to share vendor's names if you need assistance with these projects.

Fall Home To-Do List


1. Fall Winterization of your Sprinkler System.


2. Fall Exterior Clean Up of Leaves (I typically do this before Thanksgiving so they don't have to come twice)


3. Clean your gutters of leaves. I also do this before Thanksgiving to ensure most of the trees are bare.


4. Change the batteries in your smoke detectors. We do it every Halloween! 


5. Change the filters in your heating or AC furnaces.


6. Clean your dryer vent. I use a professional company to do this.


7. Some recommend having your ducts cleaned as well. A tip I have also learned is keep your fan running on your HVAC. This helps get rid of moisture that can build up from the air conditioning condensation or from a humidifer if you use one. 


8. Window Washing. I do this before the winter months too! All the better to watch the snow!


9. Put away or cover up your outdoor furniture.


10. Shut off your outdoor spigots so they don't freeze during the winter months.


I'm always available and more than happy to provide an analysis for you! Email me at teri@mgsgrouprealestate.com or call at 617-306-3642 to schedule a meeting.

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Sept. 8, 2023

Market Update Week of 09/08/2023

There's an energy force around us in the fall that's unmistakable each year. A feeling of moving away from some things such as lazy summer days, warmer temperatures and outdoor activities, while simultaneously this is the perfect time for new starts and second chances.

Come Labor Day agents are busy again launching listings and keeping an eye on the prize for buyers who are giddy with excitement, hoping for a new crop of properties.


This year is no different- the only ingredient that makes it more unique from the last few seasons are the higher interest rates. Although last fall was when mortgage rates started to inch up, and buyers seemed to freeze momentarily until they became used to the new norm. That was a noticeable slow period which I don't expect to see this year.

Right now snagging a mortgage in the 6% range is a treat, (the things we get used to) and they are out there. Call me and I will be happy to share names of people who can help you. 

It is hard to categorize this market as struggling or strong. There are so many important points at play, but I know when I am out with clients and they see a house they love, its business as usual and they are excited to move forward with a purchase. In real time those who are in the game are determined, despite the list of points below.


  • Rates are high which lessens buying power.
  • Sellers are still staying put if they don't want to trade out of a low payment on their home for a higher mortgage payment.
  • Inventory is low since sellers are staying put.
  • Rents are VERY high (especially in the burbs) since some buyers are on the sidelines to make a purchase.
  • Pricing matters for sellers even with the low inventory- pricing reasonably is key- and we are seeing many more reductions than in the past if a buyer deems the asking price as unreasonable.


Here are last week's numbers. A little less robust in terms of new accepted offers since the focus has been on vacations and back to school. I am working on really special listings for the fall which we can share very soon. So stay tuned and stay cool! 

I'm always available and more than happy to provide an analysis for you! Email me at teri@mgsgrouprealestate.com or call at 617-306-3642 to schedule a meeting.

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Posted in MGS Group
Aug. 25, 2023

Market Update Week of 08/25/2023

The national headlines reflect precisely what's happening in the real estate world here. 


  • Inventory is historically low around the country.
  • Mortgage rates are just over 7%.
  • These two factors make it tough on buyers- even tougher on investors where rates are closer to 8%.
  • In July 2023 homes sales were down 16.6% compared to one year ago 2022.

These points are further reflected in the decline of sales volume from year to year in many firms statewide. We are happy report MGS Group is bucking that trend.

Our focused agents have determined buyers who want to move and are willing to do what it takes to get it done. My kind of people! Just look at the number of houses under contract in the steamy, sleepy summer months. It is impressive! Dover's inventory is startling low along with the surrounding towns. This is a market that keeps on chugging along.

Buying now is a strategy worth exploring as experts believe while rates may come down in the next year or so, prices will shoot up when they do.


The fall market starts right after Labor Day, and hopefully brings with it an introduction to a robust crop of new listings. This summer girl loves the warm weather, but I also look forward to the energy that autumn brings and the opportunities for new starts, whether it's a fresh real estate market or a new school year. It also helps us get back to routines which is comforting for so many.


My family's fall days look different this year, as we dropped our daughter Anna off for her first year at the University of Virginia. I had no idea the impact this has on all of us as she takes this great step toward adulthood. It seems far off as a parent until you are there! I wrote a blog about it and how we got through letting go so she can fly! You may not need it now, but you will someday. Enjoy the balance of summer!! More warm days are ahead.



I'm always available and more than happy to provide an analysis for you! Email me at teri@mgsgrouprealestate.com or call at 617-306-3642 to schedule a meeting.

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Posted in MGS Group
Aug. 24, 2023

Who Knew Sending Your Child to College was This Hard?

    I have come to realize that dropping your child off for their first year of college is not a natural or easy process for a mother. While my daughter is a strong, independent young woman who often ventures out on her own, and even spends summers away working on Cape Cod, the act of sending your son or daughter into the first chapter of adulthood has a biological effect that I didn't expect.


     Leading up to our drive from Boston to the University of Virginia, and now a week past the great departure, my biological rhythms are off-kilter, and my world has shifted, forcing me to adjust. Nighttime dreams revolve around Anna's life at school, and one night I woke up in a sweat after the all-too-common test-taking dream —you know the one where you didn't attend one class or read the book and then had to sit down to take the test? My daily activities at home or at work are frequently interrupted with pangs of missing her and a deep yearning to know what she's up to, how she's feeling, and who she is meeting. At the same time, I know this process is about her growth and developing her "figure it out" skills so she can be a successful and resilient adult. My practical side keeps me from reaching out with random questions or advice.


     The support from friends who have already gone through this process helped me during the actual goodbye. Their texts and calls made the drop off easier. I am a firm believer that it "takes a village," and knowing you aren't alone through a situation is always comforting to me during times when life takes a difficult or emotional turn. I will do the same for other friends moving forward now that I know the emotions paired with your child leaving the nest.


     Practically, with one less person at home, daily routines are naturally redefined. I now have to remember what it's like to plan meals for four people instead of five. There is less laundry, one extra room in the house, and a lonely car with no driver that will sit in our driveway. Our family chat has a subgroup without Anna, who I know doesn't want to be bothered with details about carpools and logistics for her sisters and their activities.


      At UVA, they tell us to "hold on loosely" once the kids are there. They urged us to let our kids work through their stress and navigate complex situations on their own which is necessary to excel in an unpredictable world. My generation's parenting style is criticized for holding on too tightly to our kids, to the detriment of their mental wellness. For me, a mandate to let go was actually liberating. I saw it as a pass to stop being her problem solver. However, as someone who loves to give advice, it was important to me to send her off with my thoughts one last time. With so much to say I narrowed down my suggestions with the help of articles I found on the Internet and through social media. I hope this helps if you are looking for a way to map out all the advice swirling in your head. And yes, I did get on Snapchat!


So much to say before you leave for college!



  1. Most importantly we are so proud of you!! 
  2. Go with your instincts- if it feels wrong, don’t do it. Take calculated risks!
  3. Go to your professors for office hours. You love relationships with teachers and college is no different. They are there to help you. Go introduce yourself at the beginning and keep in touch. This makes school more enjoyable for you 
  4. Sleep well and eat well!! Exercise!!! It will make a huge difference for you.
  5. Nothing good ever happens after 1am!! 
  6. We aren’t there to track you, so respond to our texts and calls. We won’t bother you often. Let us know if there is a better way to communicate. Is snapchat easier? Also return calls-texts from your high school friends, your sisters and grandparents. These are important people in your life who love you and will ALWAYS be there for you. And of course respond to your professor's emails!
  7. Join Clubs!! Play intramurals. Go to lectures, movies, sports events and performances. At these things you will find your people and college offers so many different interesting experiences that are readily available!
  8. Your people will change. You are going to meet people and then move on to others. Let it happen..That’s ok.
  9. There will be amazing days and days when you feel lonely and overwhelmed along with many of the other students feeling the same way.  Bad days don’t make for a bad life. 
  10. When something happens that feels complicated try to figure it out on your own and work through it before you call us. Let us know about the good times too! 
  11. If you are doing something new for the first time, don’t measure success on the outcome. It could be a train wreck, but that’s ok. Focus on the learning during the experience and take away a nugget you learned from that process and use it to help achieve your goals the next time. Nobody ever has perfection. Give everything 110% and whatever happens, you put your head down at night knowing you did your best. 
  12. Don’t be quick to make judgements- give people a chance. If they disappoint you it's not personal, they are just trying to figure out who they are. Yes, still! I know I told you this in middle school too.
  13. Focus on the “glimmers” not the “triggers”. Focus on the glimmer of light that enters your day- there will be so many!  If that's your main focus the triggers won’t seem so drastic.
  14. You are a strong, intelligent and independent woman! Go get 'em. We will always be there for you when you need us.
  15. Thank you for being such an amazing person and daughter. ( A good reminder from UVA's President)