Wellesley & Weston Real Estate News

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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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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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)

Aug. 10, 2023

Market Update Week of 08/10/2023

Is your dream to own new construction? For many it is! Building that dream home can be a wonderful experience, but It can also be a stressful journey. (Can you tell what's going on with my deals this summer?) I have been through the process many times with clients and wanted to share some tips that may help you get to the finish line without too many bumps.

Spec Building


Spec builders are people who buy land then construct a home with the intent to sell it once it's finished, for profit. These properties typically get listed for sale early to mid way in the process. Sometimes a buyer will purchase the home before its move in ready and close on the property upon completion.



1. The builder carries the cost while the project is being built.

2. The timeline can be shorter since the plans/design and choices are already made.

3. The builder deals with the town/city departments on permitting etc.

4. There are less decisions to be made for the buyer.

5. Builders tend to know of land for sale more than consumers. In Metro West, contractors are in the know about older houses that can be torn down to make way for a new property.




1. You won't have a choice of builders, and will be forced to partner with whoever owns the land.

2. Your chances for customization and upgrades will most likely be limited. 

3. Since you didn't choose the builder, you will be beholden to their way of doing business and their communication styles etc. 

4. If there are delays in closing, for the most part it will be out of your control. 


Custom Building


In this scenario the owner of the land is the customer who in turn hires the builder to construct a house to the owner's specifications. Since the client is carrying the costs and owns the land, the builder doesn't have a say on choices, finishes and design. This is a true "create my dream home' scenario. Renovating your home falls into this category too.



1. You hire your choice of builder and architect. The land is yours!

2. All design choices come from you.

3. Custom builders tend to be more in tune with customer service and communicating with clients since they were hired for the job. Their job is to create what you want.

4. You can control costs with your choice of materials.

5. The final product is a clear representation of you! 




1. There are thousands of decisions to be made from doorknobs to tiles to floors to hinges when building a custom home! It can feel like a full time job building a house.

2. It is easier to upgrade and make changes so costs can escalate quickly.

3. It's on you and the builder to deal with the town bylaws and permits.

4. You are carrying the costs of the land, taxes and insurance during the project.

5. It can be very difficult to find the right piece of land!

There are steps to help ensure the project goes as smoothly as possible from the start!


1. Do the hard work up front!!

  • Write out a very detailed specification list. 
  • Make as many choices as you can even before you choose your builder. Having a good idea on square footage, the layout, systems and materials is essential. This way when you meet with two or three builders to bid on the job their quotes will be based off the same plans and you can compare pricing more easily. Apples to Apples!
  • If you are putting in an offer on a spec build and want any changes to the plans given to you, spell those out in detail with your offer so you aren't charged more if you make the decision later to change something.


2. Be realistic about the process. There is a reason some people swear they will never do another project on their homes! It's not for everyone and there is a lot that can happen that is out of your control. Labor shortages, supply chain issues, weather delays and permitting issues are common.


3.Do your homework and work with a contractor who has a good reputation and great references, not just the cheapest quote! 


4. Expect delays and budget for more than you think. Right now it seems builders are having a hard time finishing projects on time. The reasons are unclear, but ALL of my building projects have been delayed up to a month and in one case a year! 

I hope you find this blog helpful! The best part about renovating or building a home is that the end product reflects you and your family, and it's something to be proud of! 


The weekly numbers below are quite impressive! Buyers are still out there and want houses- check out the under agreement stats. 

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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July 28, 2023

Market Update Week of 07/28/2023

Cape Cod and the Islands (Nantucket and Martha's Vineyard) had the greatest price appreciation during the pandemic years. Home prices were up more than 50% in those vacation spots. While spending time on Nantucket and the Cape this summer, I couldn't help but wonder if things have cooled down there? Through mere observation it feels less crowded in Nantucket compared to previous summers, and friends were able to get last minute rentals and dinner reservations which are typically hard to come by.

I checked in with real estate agent Julie Brock who sells and rents real estate on the island for Compass. She did confirm that the rental market has softened a bit on Nantucket since people are going back to a more typical work experience in the office and with travel now opened up they are going to far away places rather than stay close to home.


She also shared that sales volume is still historically low because there are so few houses for sale on the island. In May of 2023 $100M worth of contracts were signed for the second time in 2023. There was a record sale on the island as well with a house that traded $38.1M! 

Brock also says the under $3 million market is particularly competitive, with properties receiving multiple offers and selling quickly. Even with rising interest rates, properties listed under $2 million continue to move rapidly, with very few new listings.


It's a similar story on Cape Cod. Jennifer McCartin of Sotheby's who is based out of Osterville confirmed that short term rentals are down there too, and sales are still brisk with so few houses for sale. Jennifer told me, "at the end of June 2023 there was a 34% decrease in new listings from 2022." Once again the golden rule in real estate applies and buyers are very sensitive to location, price and condition. Those are the properties that sell fastest and on the Cape that means easy proximity to beaches or town centers.


Both these Realtors did reiterate that buyers won't jump on just anything (and its the same at home.) Pricing correctly for the market is still important and across the board. We are seeing price reductions now when a home is not selling in a matter of weeks. 

It's been a beautiful week. I have been lucky enough to spend time with my family away and I hope you are able to get some downtime this summer as well. It seems you should not have a problem finding a rental.:) Back in Metro West the real estate market keeps chugging along. See below.

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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July 21, 2023

Market Update Week of 07/21/2023

If you are waiting for mortgages to come back down, some experts say you may be waiting a long time. The chief economist at the National Association of Realtors says that in his lifetime he doesn't expect to see rates adjust back down to 3%. (If you are like me you are now asking how old is Lawrence Yun? I would say about 62.) He goes on to reflect on the fact that those historically low rates below 3% were a means to get us through unprecedented times during the pandemic and a once in a lifetime move. Here are some predictions from the National Association of Realtors and other real estate watchdog groups.


But before we get there, expect some rough waters in the mortgage industry. Just this week US Bank laid off workers in their mortgage department following the lead of other banks who have done the same. The dip in the number of sales and refinance customers has had a significant effect on them. Of course, First Republic and Silicon Valley Bank suffered and were bought out as a result of offering so many lower rate jumbo loans. In turn they were ill prepared when the rates starting raising and borrowing money was more expensive. Those working in the mortgage industry are feeling uneasy and rightly so. It's a tough time for them. For buyers, if you want to purchase a house the process is the same, and well qualified people should have an easy time. As I have said before though, shop around for the best program for you. Here are national averages this week.



If you didn't win the PowerBall and still need a mortgage to pay for your next home, I hope you find this helpful. My family did not hit the jackpot as you may have guessed, if we were the big winners I would not be writing this blog!


Have a great week! The sales activity this week seems to have slowed down. A seasonal affect for sure- vacations are being prioritized over home buying during steamy July!

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.

Posted in MGS Group
July 14, 2023

Market Update Week of 07/14/2023

The real estate climate out there is complex! If you've been holding out for a correction, you may be waiting for a long time if you want to buy in the Boston area. While the Northeast and Midwest aren't showing signs of slowing any time soon, the Western part of the country is settling in with more of an equilibrium between buyers and sellers. Austin, Texas which made headlines for record prices during the pandemic is making the news again as their market dramatically shifted. "Inventory in Austin continues to run above pre-pandemic levels, putting downward pressure on prices which have fallen to -13.8% below peak, the largest gap of any market", according to Housingwire.com. New England, for the most part, is a different story. Let's get you up to speed!

  • On average nationally in 2023 there are three offers on one property according to the National Association of Realtors
  • I was in a bidding war last week with eight offers this week- topping the national average.
  • The luxury market, notably in Weston is brisk with a median selling price of more than $3M and averaging around 50 days on the market
  • After 12 consecutive months of declines, inflation fell to 3% in June
  • Interest rates stand around 7%- and this seems to be affecting investors, potential second home buyers and sellers the most. 
  • 82% of those who hold a mortgage have one below 5%. This is stopping them from selling and buying real estate at a higher rate.
  • With these groups on the sidelines, it is not helping build up much needed inventory, but at the same time it seems to be preventing any type of housing market collapse.

Some industry experts predict that job losses are the only way to really curb inflation. Others say we may be may be able to avoid that because so many other economic indicators are healthy. Only time will tell.


If you want to buy in this market, tie into an adjustable product where the lower interest rate moves in 5 to 10 year, but is lower than a 30 year fixed mortgage right now. The hope is you can most likely refinance in the near future since we are betting that rates will go down again. We may not see 2-3%, but wouldn't you take a 5% rate right now? I know I would! When that happens, prices could rise, but you will have more buying power. See below for this week's numbers which show a healthy amount of properties going under agreement. Have a great weekend!



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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June 24, 2023

Market Update Week of 06/24/2023

It's alright to cry! I am here to give you that permission. Selling your house can be just as stressful as ending a relationship with someone you care deeply for. The tension that comes with moving is not to be underestimated. And if you feel like crying, you aren't alone!

Studies show it's easier to be a buyer and that 1/3 of Americans cry when selling. https://zillow.mediaroom.com/2019-06-24-More-than-a-Third-of-Americans-Cry-While-Selling-Their-Home. That said, there are things you can do to make the process easier for you emotionally. 

So why is this process so hard? 


  • Many people are sentimental and cherish the memories their home holds. 
  • If you are moving far, it is sad to say good bye to people you care about.
  • Change can be hard for people. It means setting new paths, rituals and routines and saying goodbye to the old ones. It forces us to shake things up and question if we have the bandwidth to do it.
  • So much of real estate is out of our control. This can feel uneasy for many. My mantra is that we give 110% while getting the house ready, creating the marketing plan and landing on the right price. Once the house is for sale, however, it is up to the market to decide what is the correct price and in some cases, it's the buyers who set the terms. This can feel out of control for sellers. (That hasn't been the case in the last few years, where it's been a seller's market).
  • Logistically it can be stressful vacating for showings and having the house show ready. 
  • After you have taken your personal belongings out of your home and in some cases brought in staging furniture, the house can feel vacant and soulless to the homeowner.

So what can you do to alleviate the stress while selling? 


  • Establish a relationship with an agent you trust and take that time to work together to get your house ready. 
  • Working with someone who is a full time-experienced agent with empathy is key! If you are just another listing to your agent, you won't get the support you need.
  • Do as much of the packing, removing clutter and cleaning upfront before you come on the market. This way it is done on your timeline and will make the ultimate move easier.
  • Do small projects, but don't take on major renovations right before you list. Any type of building is a stressor. Compounding this with listing and moving is not a help.
  • EXERCISE and take time for you, self care is critical! Keep doing what you love and what gives you peace during the process. You are going to need these things to help you get through it.
  • If your feelings are really strong, make sure you are talking to a licensed therapist or someone who can help you through this difficult time. There is a reason one of my clients gave me the mug above!
  • Have a daily routine once you are on the market so the house is show ready and you won't be rushing around when your agent calls to say someone wants to get in asap!
  • Put it all in perspective- as long as you have your health and your loved ones are healthy, isn't that the most important thing? Experiences and happiness help shape our lives and your home is a lovely backdrop, but lovely because you created the memories.
  • Don't have expectations and think big picture! Your house will sell. Some do so in a weekend and others in six months. With a quality Realtor advising you, you will get to where you need to be. Look ahead a few months or a year, and the mixed emotions you feel will most likely be a distant memory. Time does heal a lot of things.
  • Don't make the deal more important than the end goal and don't take things personally! I see so many people get insulted about a counter offer or opening bid and demonize the buyers or sellers. This raises their anxiety level! A negotiation is part of the process- put yourself in the buyer's shoes. They don't want to overpay and you don't want to give it away. Finding the common ground is a good deal for everyone and the right platform to move forward!
  • KIDS ARE RESILIENT. Buyers and sellers worry so much about how their kids will adjust to a new town or neighborhood. There may be a few days or weeks of sadness, but in nearly all scenarios the kids meet friends and it all works out! Especially with younger children.

Together we can get through this! Moving can also be a fun and exciting experience that hel




And yes, here are this week's numbers. Have a great week!



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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June 16, 2023

Market Update Week of 06/16/2023

This week's blog is the tale of my client Lynne. She's a fantastic woman and an incredible mom who is trying to help her daughter buy a home in Framingham. Sounds like an easy task, right? Their parameters are not unrealistic and quite in line with what seems reasonable for this area. 

  • Priced between $650,000-$850,000
  • All style homes- Ranch, Colonial, Split Levels
  • All Cash
  • No contingencies 
  • Flexible Close 

The problem is they are getting outbid each time if they have the chance to put in an offer. Realtors are promising an offer deadline days out and then their sellers are changing their minds and accepting offers that are 10-15% higher than the ask before the deadline approaches- following any set of rules set forward by the agents doesn't work.

So when you ask me how the market is out here, this is what I will tell you! For some buyers it's a wave that just keeps knocking you down time and time again. Framingham is even crazier than other towns closer to Boston such as Weston and Wellesley where the price ranges are higher and less affordable for a large pool of people. In the affluent towns more properties are lingering each week or two after they are launched on the MLS. (This could be a sign of summer too) About a third of the inventory in the Newton-Wellesley area is under $2M and the rest is north of $2M. A top heavy market is building.

This trend is the problem across the country as was recently reported by the National Association of Realtors by Inman, which is real estate news for brokers. There just aren't enough houses that people can afford. "The report notes that there were about 1.1 million homes available for sale at the end of April, up 5 percent from a year ago. If the market were balanced, nearly 51 percent of households earning $75,000 or less would be able to afford to buy 51 percent of the homes available for sale. But those households can currently only afford 23 percent of listings now, whereas five years ago, they could afford to buy half of all listings, according to the report."


In other news I want to give a special welcome to my new assistant Ava! After living in New York City she moved back home to Wellesley to pursue her goal of becoming an agent. Myself and MGS group are so excited to have her on board!! 

Stay Tuned - I will be selling a new development in Wayland called Launcher Way! I could not be more excited! 12 Newly renovated ranch style homes set in a beautiful neighborhood. What an opportunity for people to have a stylish, updated home for under $1M!!! Details coming soon! 

Finally, I want to say congratulations to my daughter Anna who graduated last week from high school and is off to the University of Virginia! I am such a proud Mom I had to share this great news. Our first to go to college- Wow!!


Have a great week! Last week of school for the younger ones!


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.

Posted in MGS Group