Kat Geralis Home Team Wilmington DE Real Estate News Archives

Finding the perfect home in Wilmington DE can be challenging— especially if you have an extensive home feature wish list. Have you been searching for homes for sale in Wilmington DE or Newark DE? Let us help you with your homebuyer questions and make the right decision in purchasing Wilmington real estate. Below are a few homes for sale in Wilmington and Newark— take a look and contact us with any questions or to view more properties in the Wilmington/Newark real estate market. We even offer FREE first-time homebuyer seminars!

1402 Clinton St
Wilmington DE 
4 bedrooms | 3 bathrooms | 1 half bath
3125 square ft.

Price: $600,000

SUPER! City-Chic home loaded with updates & close to Rockford Park! Newer construction, contemporary floor plan w/over 3000 SF. Dramatic 2-story entry with turned staircase lead to formal Living Dining rm. Bright space w/tall designer windows, Hardwood floors throughout, track & recessed accent lighting. Spectacular Gourmet kitchen with upgraded cabinets, quartz counters, oversized island with 5-burner Dacor cooktop & breakfast bar, Dacor wall ovens; informal dining area with slider to lovely screened porch overlooking backyd landscaping & fenced yard. Adjoining cozy family room with woodburning fireplace. 

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402 Saint Regis Dr
Newark DE 
4 bedrooms | 2 bathrooms | 1 half bath
2300 square ft.

Price: $315,000

PRICE REDUCED! Come see this BEST BUY in Chapel Woods! Colonial style home w/Contemporary design, situated on a private lot. Enter into the 2-story Foyer w/vaulted ceilings. Formal Living & Dining rooms feature NEW hardwood floors. Tastefully decorated w/neutral colors, abundantly bright and open floor plan. Kitchen features large breakfast room w/ NEW wrap around counter space and large pantry. Newer appliances include smoothtop range, dishwasher and microwave. Relax on the large, rear deck overlooking tall, mature trees and fully fenced yard. 

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2 Michael Townsend Ct
Newark DE
4 bedrooms | 2 bathrooms | 1 half bath
2775 square ft.

Price: $399,900

Price REDUCED 20k! MASTERPEICE HOME located in the sought after Preserve at Lafayette! This gorgeous brick colonial features a dramatic 2-story foyer,9' ceilings and many special upgrades throughout. The open floor plan is perfect for entertaining. You will be captivated by cathedral ceilings, beautiful hardwood flooring, crown molding and chair rail that accentuate the home. The gourmet kitchen boasts upgraded 42" cabinetry, center island, Stainless appliances and Corian countertops. A separate family room with gas fireplace and a home office are added bonuses.

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Want to see more properties like these? Ready to begin your Wilmington, DE home search? Let us help you discover your real estate options and move closer to purchasing your next home!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
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These stats should be helpful for those looking to purchase real estate in our area! Ready to begin your Wilmington, DE home search? Let us help you discover your real estate options and move closer to purchasing your next home— we even offer FREE first-time homebuyer seminars! 

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

There is good news for Delaware home sellers - more home buyers will be coming to the market during the next few years. But if you're a first-time home buyer in Delaware, you need to be prepared for competition!

For starters, we are now seeing more first-time home buyers enter the market, after hitting a 4-year slump only a few months ago. Nationally, first-time buyers accounted for 34.5% of all home purchases during February 2013. The "early spring" of the housing market in 2013 was at least partially fueled by first-time buyers looking to get a jump on the market.

They were not alone. Real estate investors, still hungry for aquisitions, claimed an equal share of all home purchases in February - another 34.5%. Investors can be the bane of a first-time home buyer, since investors are usually looking for lower-priced homes, and paying cash.

But the 900-lb gorilla among buyers is perhaps the least expected group - the "boomerang buyers." These buyers are former homeowners who experienced a short sale or a foreclosure during the housing downturn. Many of them have now completed the minimum waiting period and are looking to buy a home again.

To give you some idea of the numbers, USA Today reported that just under 5 million people lost their homes during the housing crisis - and an amazing 70% of them will buy another home as they become eligibile to do so. Based on the timelines of the era against the mortgage waiting period, this translates into 500,000 boomerang buyers becoming eligible for home ownership each year for the next several years.

Why would these former homeowners want to return to home ownership after having a negative experience? Speaking bluntly, renting is no picnic, and home ownership at today's prices and interest rates is a much better deal. USA Today reports that boomerang buyers are anxious to return to the market at the earliest opportunity, while the economics work in their favor.

If you are a first-time home buyer in Delaware, you need to be well-equipped to handle the competition! Find out how to get approved for a mortgage, and learn about the buying process at our FREE first-time home buyer seminars! The next one is in Newark on April 20, 2013! Register here to save your seat!

Always feel welcome to contact me for more information about homes for sale in Wilmington and Newark! I am here to help you with your home ownership goals!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook
Follow me on Twitter

Looking for family events during the holidays? You don't have to go far to find holiday fun in Wilmington or Newark! Here are a few suggestions for you!

Enjoy a free screening of three cherished, animated holiday classics at the Theatre at Nemours, Saturday December 1st! The show starts at 11:00 a.m. and features A Charlie Brown Christmas, How the Grinch Stole Christmas, and Rudolph the Red-Nosed Reindeer. While the presentation is free, registering for complimentary tickets is recommended to save your seat. Get there early and enjoy the show!

Don't miss Winterfest in Newark, Friday December 7 from 6:00 p.m. to 8:00 p.m.! This hometown holiday tradition includes caroling, hot chocolate, carriage rides and a tree lighting ceremony. Rumor has it that Santa himself is going to be there! There will be storytelling in the children's area of Barnes and Nobles.

See the splendor of the 28th Annual Holiday House Tour, Saturday December 8th! 10 Wilmington homes will be artfully decorated for public touring. There will also be displays by 12 talented regional artisans at the museum, with hand-crafted items available for purchase. Tickets required, see the website for details.

There's more going on, but this will get you started! As your professional Wilmington and Newark, DE real estate agent, I'm happy to share community events with you. Wilmington and Newark have a lot to offer and these events are just a small sample.

When you are ready to buy or sell a home, I'll be here to help you! You can trust my professional guidance to make your home buying or selling experience smooth and efficient. For more information about Delaware homes and our wonderful communities, please contact me today!

The University of Delaware employs over 4,000 people, including faculty and hourly staff. Newark, DE benefits by the economic and cultural contributions that the University of Delaware provides to the community.

There is a consistent demand for homes near campus from a wide range of buyers.

The area attracts relocation buyers, retirees, and commuters who are drawn to Newark's college-town charm.

There are several Newark, DE neighborhoods worth your consideration, and I'm going to introduce you to one of them here! If home value and proximity to campus are among your priorities, consider the established neighborhood of Arbour Park.

Bordered by the Delaware Turnpike, Elkton Road and falling just shy of the Christiana Parkway, Arbour Park is a short distance away from the University of Delaware Stadium, the David M. Nelson Athletic Complex, and the Allen Biotechnology Lab.

Arbour Park is only minutes away from downtown Newark and the Christiana Mall. Commuters have access to Philadelphia, Baltimore and New Jersey. There are also large public parks in the neighborhood, such as Iron Hill Park and Rittenhouse Park.

What about the homes? Glad you asked! Homes in this area of Newark have a variety of age and construction, but are generally well-maintained. Median home prices are running right around $292,000.

To find out more about Newark, DE and the Arbour Park neighborhood, contact me! Being UD alumni myself, I am very familiar with this area. As your Newark and Wilmington real estate professional, I will help you find the best home in the right price range.

Ready to look at Delaware homes for sale, or just have a few questions? Contact me for neighborhood price trends, recent sales, and expert guidance in today's fast-changing real estate market.

When you’re deciding to sell your home in Wilmington, DE or Newark, DE, one of the first things you’ll want to know is how much your home is worth in today’s market. If you purchased your home at the height of the real estate bubble, chances are you think your home is worth more than it is. However, this doesn’t mean you can’t still net a profit you’ll be happy with.

One way to get an idea of how much your home is worth is to research other Wilmington, DE homes that are for sale in the area to see how your home compares in terms of size, location and features. Once you see what the competition looks like, you can start making smart, cost-effective updates to your home before putting it on the market. Here are a few tips for increasing the value of your Wilmington, DE or Newark, DE home.

1. Go Neutral

One of the most inexpensive and effective things you can do to increase the value of your Wilmington, DE home is to slap a fresh coat of paint on the interior walls. Paint does wonders for making your home look clean and updated. Go for neutrals, which appeal to the greatest number of people.

2. Get an Expert’s Advice

Rather than spending money to hire a designer, have a Wilmington, DE real estate agent come into your home and take a look around. Experts, such as myself, can give you pointers on what will turn buyers away, like popcorn ceilings, and what will impress them, like a water filtration system in your kitchen. Then, you can implement these changes to increase your home's value. When you’re ready for a few tips, just give me a call!

3. Update your Decor

Use home magazines, Pinterest, and catalogs for inspiration to spruce up the décor in your Wilmington, DE home. A colorful pillow or two on the couch can brighten up a living room while a vase full of beautiful flowers on the dining room table or in the kitchen can give your home an inviting feel home buyers will appreciate. Get creative and DIY when you can to cut costs.

4. Maintain Curb Appeal

I can’t stress enough how important it is to maintain your lawn and landscaping when you’re trying to sell your home. Keep the grass cut and watered and tidy up the landscaping to boost your home’s curb appeal. Add a splash of color with some potted flowers by the front door if you’re not willing to sink some money into updating your landscaping.

One of the best tools you can use to determine the value of your home is a comparative market analysis. Your Wilmington, DE real estate agent can gather data about other homes for sale and homes that have recently sold in the area to help you determine how your home competes and how it should be priced. Of course, your lender will most likely require an appraiser to evaluate your home, but doing some preliminary research and getting in touch with a local real estate agent are great places to start. Please let me know if I can be of any assistance as you explore the process of selling your home!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook
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Let’s face it. The economy still isn’t in the best shape and many homeowners in Wilmington, DE are without a job. When it has become impossible to stay on top of your mortgage payments, the possibility of foreclosure becomes a frightening reality. However, if you face the fact that foreclosure is looming and you are proactive, it can be avoided with a short sale.

While it’s certainly a favorable alternative to a foreclosure, a short sale is still emotionally and financially daunting. Though it’s not ideal compared to a traditional home sale, you’ll be able to bounce back more quickly than if your lender decides to proceed with a foreclosure.

If you’re unfamiliar, a short sale occurs when a homeowner sells his or her home for a lower price than the amount due on the mortgage. All of the earnings made on the sale of the home go directly to the lender and the remaining balance of the mortgage is forgiven. Not all lenders will accept a short sale, so the first thing you should do is consult with your bank to see if a short sale is a possibility.

In the event that you’ve decided to proceed with a short sale on your Wilmington, DE home, I’ve assembled a few tips to help you navigate the short sale process with as little stress as possible.

1. Talk to people

After you’ve determined your lender will cooperate with a short sale, the first thing you should do is talk to a CPA, a real estate attorney and a Wilmington, DE real estate agent. These three parties will be key allies throughout your short sale journey.

2. Find a local real estate agent

Ideally, this will be me! I’m well versed in the Wilmington, DE real estate market and have extensive experience helping distressed homeowners avoid foreclosure with short sales. My team and I are ready and willing to help.

3. Determine your home’s value and list it accordingly

Your lender is going to want to see your Wilmington, DE home listed as close to market value as possible. Work with an appraiser to determine the true value of your home and list it slightly above market value. The right price should attract homebuyers and satisfy your lender at the same time.

4. Gather your documents

Once you’ve received an offer on your Wilmington, DE home the battle isn’t quite over. You now need to submit a letter of hardship, tax returns, pay stubs and various other documents to your lender for review. Make sure you have included everything that is required so the bank has no excuse to delay the short sale process.

5. Negotiate

There will be a period of 30 – 45 days before you will hear anything from your lender regarding your short sale. If the homebuyer’s offer is within 5% of the price at which the home was appraised and all of your documents have been submitted, the short sale should be approved.

I hope these tips for listing your Wilmington, DE home as a short sale have been helpful. If you find yourself in a position where you fear your home might go into foreclosure, please contact me. My team and I will help you with your short sale every step of the way.

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook
Follow me on Twitter

When you think of a luxury home, you might picture a swanky, urban New York City penthouse or a modern, oceanfront mansion in Malibu. However, we have some of the most beautifully maintained luxury homes right here in Wilmington, DE. If you’re in the market to buy a luxury home, I’ve compiled a few tips to help you navigate the Wilmington, DE real estate market with ease.

1. Refine your home search

To protect their privacy, many luxury home sellers choose not list their homes with the MLS (Multiple Listing Service). You’ll have to do some deeper digging to find the real gems in the Wilmington, DE real estate market. That’s where having a well-connected Wilmington, DE real estate agent comes in handy. A lot of the luxury homes in the area are advertised by word of mouth.

2. Don’t judge a home by it’s photos

Some luxury homes aren’t photogenic, and thus require an in-person visit to see the real beauty, square footage, details and stunning views. If you’re skeptical after seeing photos, don’t be quick to dismiss what very well could be your future home. Get a few different angles by looking up the home with Google Maps if an immediate drive-by isn’t convenient.

3. Have a local expert assist you

Using a buyer’s agent who is a local expert in the Wilmington, DE real estate market is helpful in any real estate transaction, and a must with a luxury home purchase. With luxury homes, there are fewer open houses and more private appointments. Having a buyer’s agent facilitate these types of home purchases is very beneficial.

4. Don’t pay for your Wilmington, DE luxury home in cash

A common misconception about those who purchase luxury homes is that they pay in cash. This isn’t necessary and may not be the best use of your money. In reality, only a small percentage of luxury home buyers pay in cash. Consider paying a substantial amount, as much as 30%, upfront and taking out a mortgage for the rest.

Of course, this isn’t an exhaustive list of tips to use when buying a luxury home in Wilmington, DE. Buying a home at a high price point is a long process with many different types of inspections, contracts, and requirements. Luckily, I know the Wilmington, DE real estate market like the back of my hand! When you’re ready to purchase your new home in the area, please let me know. I’d love to help make the search and purchase processes go smoothly.

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook
Follow me on Twitter

If you're a Wilmington, DE homeowner who is concerned about your property value, you're not alone. Between 2009 and 2011, Delaware experienced an alarming increase in foreclosures, averaging 300% above historical norms.

Recent improvements in short sale timelines, along with stronger pre-foreclosure mediation, are helping to slow the tide. But for many Wilmington homeowners, the questions remain: Should I ride this out? Should I sell before my home value gets worse? What if I can make my mortgage payments now, but my neighborhood is declining? What should I do?

If you're agonizing over these questions, take heart: the first step involves gathering all the information you can. Having solid facts and professional guidance will go a long way towards curing indecision. Here's how I can help you:

• Provide the most recent sales activity and prices for homes in your area
• Perform a market analysis of your home's value
• Provide compassionate counseling about your options, addressing the what-if scenarios
• Present the honest pros and cons of selling now vs. selling later

Ultimately, the decision to sell, or stay put, is yours. Your risk tolerance for real estate market changes will depend on your personal resources and how secure you feel about your income. If there is any possibility that you may struggle with your mortgage payments in the near future, educating yourself about the options now will save you stress down the road.

As your Wilmington, DE real estate agent, I have helped many sellers successfully navigate short sales and avoid foreclosure. My experience with short sales and foreclosures can help protect you from the uncertainties surrounding complex transactions and changing markets. If you have questions about your home value, or you'd just like to talk about your situation, contact me! I will be happy to help you.

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook
Follow me on Twitter

If you’re looking to buy a home and have been driving around Wilmington, DE you’ve probably noticed there are many new construction homes on the market. Your first instinct is to drive around, pick up some brochures and speak to sales representatives about the properties, right? Well, this isn’t technically incorrect but the smartest move you can make is to work with a Wilmington, DE buyer’s agent first.

Just as a buyer’s agent works with a seller and his or her agent on the sale of a pre-owned home, a buyer’s agent can help a buyer through the process of purchasing a new construction home. When it comes down to it, a buyer’s agent is someone on your team looking out for your best interests. Purchasing a home is a big step and there can be a lot of complicated paperwork and negotiations involved. Why go through that alone when you can have an expert in the Wilmington, DE real estate market guide you through the process?

While sales representatives at each new construction development site are informative about the floor plans, prices, builders and area, their loyalty lies with the developer. With a Wilmington, DE buyer’s agent, you have access to the same information from someone who isn’t trying to make a sale. The duty of the buyer’s agent is to simply help the buyer, not sell to him or her. Best of all, a buyer’s agent’s services are free to the buyer and are paid by the seller only if a sale is made.

So, how do you choose a Wilmington, DE buyer’s agent to help you select a new construction home? Here are some key characteristics to look for:

1. Expertise in the local market: Make sure your buyer’s agent knows the Wilmington, DE real estate market inside and out. This way you’ll be sure you’re getting the most comprehensive information when choosing your new home and neighborhood.
2. An excellent negotiator: Part of your buyer agent’s job is to help you get the best deal on your new home. He or she should be able to make some accommodations with even the toughest sellers and developers.
3. Someone who will walk through the contract with you: Remember, those sales representatives are loyal to their builders. Work with a buyer’s agent who will take the time to go through the contract with you in detail and answer any questions you have.

I hope these tips help you when thinking about your search for a new construction home in Wilmington, DE. Choosing the right real estate agent to represent you in your home purchase is a key step towards success. I’m always happy to help homebuyers find the perfect home in Wilmington, DE and there are hundreds of new construction properties waiting to be discovered. Just let me know what you’re looking for and I can narrow down your options, saving you the time and money from driving around town and seeing homes that don’t meet your needs.

I hope to hear from you soon!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook
Follow me on Twitter