Kat Geralis Home Team Wilmington DE Real Estate News Archives

Annual Holiday Art Market
Through December 31, 2013; 11 AM to 3 PM Tues-Sun, 11 AM to 6 PM Thurs. and Sat.
Newark Arts Alliance, Newark DE

A great place to pick up last minute holiday gifts and creative bits for those on your list! Shop for locally-made art and crafts for holiday gift giving at this FREE Newark event. All art by local artists is guaranteed to be unique and to make your loved ones feel special. There will be 11 artists selling jewelry, mosaics, felt ornaments, photography, watercolors, handweaving, fiber art, pottery, tie dye and batik and window ornaments. A portion of the proceeds benefits NAA programs. 

Santa Claus Express
Through December 22, 2013; 12:30 PM and 2:30 PM
Wilmington and Western Railroad, Greenbank Railroad Station
Wilmington DE

Why stand in line at the mall and wait to see Santa when you can ride the train and have Santa come to you? The Jolly Old Elf himself rides the train and greets everyone on board and gives all children a chocolate treat. PLUS he may even bring Mrs. Claus with him! Be sure to bring the camera and have Santa pose for pictures with your child during this 1½-hour round-trip to Ashland. This event is powered by one of the railroad's antique steam locomotives. 

The Sound of Christmas
December 14, 2013; 8 PM
Grand Opera House, Wilmington DE

A festive opportunity to listen to the sounds of the season at Grand Opera House in Wilmington. Come enjoy familiar songs of the holidays starring Elisabeth von Trapp, acclaimed granddaughter of the "Sound of Music" family, with the Carolina Brass.

Christmas Brunch at the Rail
December 22, 2013; 10 AM to 2 PM
White Clay Creek Country Club at Delaware Park
Wilmington DE

Reservations are required for this special holiday brunch in Wilmington. There will be special performances by "The Yuletide Singers" to give the event a festive flair at 11 AM, Noon, and 1 PM. Guests can also partake in pictures with Santa and Mrs. Claus from 10 AM to 2 PM.

The Nutcracker at the DuPont Theatre
December 21 and 22, 2013; Saturday 2 PM and 7 PM, Sunday 2 PM and 6 PM
DuPont Theatre, Wilmington DE

Presented by Wilmington Ballet Academy of The Dance, this holiday event is one for the whole family! Come watch this classic production of The Nutcracker, featuring New York City Ballet principal dancers and music by Wilmington Ballet orchestra and chorus.

The Nutcracker at The Grand
December 21 and 22, 2013; Saturday 2 PM and 7 PM, Sunday 2 PM
Grand Opera House, Wilmington DE

A second opportunity to enjoy this age-old production that's always a crowd favorite. At the Grand Opera House, First State Ballet Theatre will present its magical production of The Nutcracker staged by Kirov trained artistic director, Pasha Kambalov, and featuring spectacular dancing by the company's 22 professional dancers, beautiful costumes created in Russia and Tchaikovsky's beloved score.

Want to learn more about the Wilmington and Newark areas? 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
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REAL Trends recently released their list of America's Best Real Estate Agents to honor and rank real estate sales professionals and teams in all 50 states and metropolitan statistical areas— and our own Kat Geralis was chosen! Using the data from individuals who closed more than 50 sides or $20 million and sales teams with more than 75 closed sides or $30 million in closed sales volume, REAL Trends chose Kat Geralis as one of the Best Real Estate Agents in Delaware.

REAL Trends reached out to virtually every leading brokerage organization, all Realtor® associations and MLSs and a variety of other sources to compile their list. The final list consists of 1,000 real estate agents, named the "2013 Top 1,000 Real Estate Professionals in the United States."

A native Delawarean and U of D grad, Katina Geralis grew up in North Wilmington, and has lived in DE most of her life. Kat is an entrepreneur at heart with a true passion for Real Estate. She has hands-on experience in all areas of residential real estate including; Luxury Homes, Investment properties, New Construction, Active Adult 55+, Short Sales and Foreclosures. 

When clients choose Kat as their Realtor, they get the advantage of her wealth of knowledge, experience and creativity, which leads to a very successful formula. “It is very rewarding to make a difference, by working thru each client’s unique situation to make a lasting impact in their lives.” Kat’s ultimate goal is to create a positive real estate experience and her persistence, drive, and customer follow-up shines through her “whatever it takes” attitude!

As a Top Producer and now one of America's Best Real Estate Agents, Kat’s Multi-Million dollar portfolio consists of a balanced mix of Buyers, Sellers, Short Sales, Foreclosures, and Bank-Owned properties.

Want to work with Delaware's Best? Contact Kat Geralis and her team at the Wilmington Homes Group to discuss your real estate goals. Are you a first time home buyer? Learn more about the homebuying process with one of our 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
 

It’s getting hotter and hotter outside. That can only mean that it’s time to get your house ready for the summer months. So here are some important tips every Delaware homeowner should keep in mind to usher in this steamy season.

Take Care of Your Air

As soon as it starts feeling warm outside, you might automatically want to pump up your air conditioner. But before you do, it’s important to change or clean the air filter first. This is not just a one-time thing either. You’ll need to change the filter every couple of months while the system is in use. Your owner’s manual should have all the details on the type of filter you need and the steps involved in the changing process.

Now is also the time to do an annual performance check. Have a professional inspect your air conditioner and furnace. The company that installed your unit or another heating, ventilation and air conditioning specialist can get this done for you.

Window Washing

Take full advantage of all the sunny days to come in Wilmington and Newark by washing your windows. First, remove the curtains and blinds. Then clean the windows and window trim both inside and out. You can start with brushing or dusting. If your windows are really dirty, wipe them down with a rag and some soapy water. For the outside of the windows, use a hose and rinse off all of the soap.

You can also get a good quality squeegee to make sure you get all the dirt and grime off the glass surfaces. You also might want to try some TSP (trisodium phosphate). This is a powdered stain remover and degreaser you can get at any hardware store.

By using a few drops of TSP, you will have a streak-free finish on your windows. Be sure to read all of the instructions on this cleaner, though. In a hot solution, you run the risk of taking the gloss off paints and there is the chance it can darken aluminum or wood. So use caution! If your house has two floors, you might consider hiring a professional to clean those upper story windows.

Screen Cleaning

The glass isn’t the only part of your window that deserves a thorough cleaning. Screens get filthy and dusty, too. So be sure to give them some loving care with a soft cloth and brush off the dirt. You can also gently scrub them with soapy water and then hose them off. You can leave them outside to dry in the sun.

When taking them out of your windows, be gentle. You don’t want to tear them. But for small rips, you can easily use some needle and thread to fix them right up again.

Exterior Attention

The exterior paint on your Wilmington home is designed to prevent deterioration caused by dirt, sunlight and dampness. On average, a paint job will last six to eight years. But you can extend that lifespan by addressing the exterior of your home. Trim shrubs that tend to brush against siding or windows. Make sure there is at least two feet between your home and plants to protect from damaging insects and moisture.

You might think about hiring a professional to power wash your house, too. Unless you know how to use this machine, you could dislodge shingles or siding. And that’s the last thing you’d ever want to do.

Furthermore, if you see blistering or peeling paint anywhere on your house, don’t ignore it. Make sure to schedule a paint job before fall.

As you can see, there is a lot to do when it comes to maintaining your home. If you would like more information or tips, I’m here to help. Also, I’m available to guide you through every step of the home buying process here in Wilmington. So feel free to contact me at any time. I look forward to meeting you!

New Castle County Active Listings: For the first quarter 2013, there was a total of 2,128 properties actively on the market.

Absorption Rate/Supply: The current month supply of homes on the market is defined as the ratio of the current inventory of active listings compared to sales.  In other words, given recent sales activity, one can estimate how long it would take for the entire inventory of active listings to sell, assuming no new listings were to appear on the market.  At the present time it will take about four and a half months to sell all of the current active listings, without adding any new homes for sale.  

Contact me for expert help with your home buying questions!

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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According to the National Association of Realtors, 2013 could be the best real estate market for home sellers that we've seen in years. Home buyer demand is outpacing the supply of homes for sale in many areas of the country. Great news if you're a home seller - not so much, if you're a home buyer!

Here in Wilmington, we still have a good amount of home inventory, but prices have been increasing. Median home prices during the first quarter 2013 were 21.3% higher than the same period last year. There may be plenty of homes on the market, but as prices rise, fewer of them may be in your price range. And because real estate investors target lower-priced homes that would make profitable rentals, you can find yourself competing with cash buyers in addition to traditional home buyers.

This means that you need to be ready to compete for the home you want to buy. One way to accomplish this is to know what makes a purchase offer appealing to a home seller. I have a few strategies to help you!

1. Have a mortgage approval letter in hand, ready to submit with your purchase offer. An approval letter from your lender declares that your loan application has been processed, verified and approved by mortgage underwriting. It is more binding than a pre-approval or pre-qualification. It's about as close as you can get to being a cash buyer without having your own cash.

One piece of red tape: the home must meet the appraisal guidelines to support the loan. Fortunately, with home prices on the rise, this isn't as daunting as it used to be.

2. Be aware of current market conditions and make your best offer first. If you are up against another buyer for the same home, you may not get a chance to offer more in a second round of negotiation. This doesn't mean you should overpay, however. I can help you determine if the asking price on a home is fair.

3. Keep your contingencies to a minimum. You need to have the right contingencies to protect yourself, but going overboard can cause your offer to appear to be more hassle than it's worth. Make it easy for the home seller to say "yes" to your offer.

4. Be open to the home seller's requests. Sometimes you have to give a little to get a little!

5. Work with an experienced real estate professional who will walk you through the fine points of contingencies and negotiations, and who will put you in a good light with home sellers and their agents.

Buying a home in Newark or Wilmington doesn't have to be stressful! If you are a first-time home buyer, I strongly encourage you to attend a free home-buying seminar so you can immerse yourself in good information. The next one is coming up in Newark on April 20! See the Registration Page for a list of upcoming dates and locations.

Contact me for expert help with your home buying questions!

 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     

Have you been waiting to buy a home in Wilmington or Newark? If you have been waiting to see if home prices will come down, or you are waiting for spring, you could be missing a golden opportunity to buy a Delaware home! Here are 5 reasons why right now could be the best time to buy!

1. Home prices are moving higher. According to Trulia, Wilmington home prices between Nov 2012 and Jan 2013 were 7.2% higher than a year ago. Nationally, economists expect home prices to continue to gradually appreciate.

2. Mortgage interests rates are rising. The Mortgage Bankers Association predicts that rates will trend higher throughout 2013.

3. Rents are expected to go up. Nationally, rents averaged a 4% increase during 2012. As the economy continues to improve, monthly rents are expected to follow suit.

4. Mortgage rules are changing. New guidelines exist for FHA loans. Meanwhile, the Consumer Protection Act may influence the type of mortgage products that are available in the future. Another new rule, called the Qualified Residential Mortgage, could change the requirements for credit scores and down payment amounts.

5. Closings are faster off-season. Real estate sales have lower volumes this time of year, meaning there are few backlogs in mortgage underwriting, appraisals, and home inspections.

6. Sellers are motivated. New listings are coming on the market in February! There are homes on the market today that must be sold; there are banks waiting to approve short sales, but they need offers!

Your ideal home could be on the market right now! Why not take a look at the Wilmington and Delaware homes for sale?

First-time buyers should give themselves an advantage by attending a free home buying seminar! Be prepared for the opportunities in Delaware real estate by attending one of the upcoming seminars below. Just register for the date and time that work best for you!

You may recall from a prior blog post that short sale changes were in the works for mortgage loans backed by Freddie Mac and Fannie Mae. Those rule changes became effective November 1, 2012, and Freddie Mac is calling the new short sale process a success!

While it hasn't been quite three months since the new processes became official, Freddie claims that short sale timelines are now faster by 50 to 75%!

This has many positive implications for Delaware real estate. A faster, more effective short sale process means that more deals will be successfully completed, instead of falling through due to delays. As a result, we will see fewer homes entering foreclosure, which is good news for property values.

Since the Mortgage Debt Relief Act has been extended, there is good incentive for distressed homeowners in Wilmington and Newark to pursue a short sale. All together, this news brightens the picture for Delaware home sales in 2013!

Here are highlights of the new short sale process for loans backed by Fannie and Freddie:

1. Homeowners who successfully complete a short sale can get up to $3,000 in relocation assistance.

2. The mortgage servicer on the "front lines" - namely the company that collects your mortgage payments - is authorized to approve short sales for qualifying situations. No more second-level reviews by Fannie/Freddie.

3. The mortgage servicer must acknowledge receipt of a short sale request within 3 days of its arrival.

4. If your home does not have any additional mortgages or liens that require third-party approval, the mortgage servicer needs to either approve or deny your short sale request within 30 days. If they need more time to make a decision for any reason, weekly status updates must be issued to the homeowner.

5. The short sale process should not exceed 60 days, even if another lien holder is involved.

There's just one catch to all this: in order for the above rules to apply, you must have a mortgage loan that is backed by Fannie Mae or Freddie Mac. You can use the loan look-up tool on their websites to determine this; just click on the links above.

If you are a homeowner in Wilmington or Newark with a personal hardship, and you want to sell your home but you have negative equity - let me help! I have extensive experience in short sales and foreclosures, and I can guide you through the options that are available. I also have tips on avoiding foreclosure on my website.

First-time buyers who may be interested in purchasing a home through a short sale should attend a free home buying seminar! Be prepared for the opportunities in Delaware real estate by attending one of the upcoming seminars below. Just register for the date and time that work best for you!

If you are a first-time home buyer, you may already be leaning towards an FHA-backed mortgage to finance your Wilmington or Newark home. Recently, the Federal Housing Administration announced changes to their mortgage guidelines, which are being made to stem the losses from sour loans.

In case you are not familiar with it, the FHA is a government entity that insures mortgage loans made by banks and other front-line lenders.

Without the FHA, home buying would be tough for buyers who cannot meet high down payment and credit score requirements. After the collapse of subprime lending and the tightening of credit, FHA-backed mortgages became the only game in town for many first-time home buyers.

FHA guidelines are also more forgiving when it comes to credit history, making it the only practical option for home buyers who had a prior bankruptcy, foreclosure, or short sale in the past few years. For these reasons it's a good idea to understand the FHA role in our housing market!

Here are the 4 FHA rule changes slated for 2013, and how they may affect you:

1. FHA loans require the borrowers to pay for mortgage insurance. This insurance protects the lender in the event you default on the loan. It used to be that you could get the monthly mortgage insurance premium waived after you achieved a certain amount of equity. This is no longer the case; effective in 2013, the mortgage premium will be on your mortgage payments for the life of the loan.

2. The cost of monthly mortgage premiums will go up by .10 basis points. This is a relatively small amount; it would add an extra $20 a month to a $200,000 mortgage. Keep in mind that this is only the increase effective in 2013, and not the entire premium.

3. For large mortgages, the FHA will require higher down payments beginning in 2013. The minimum down payment for a $625,500 mortgage will be 5%. This is an increase from the prior minimum of 3.5%.

4. Those who have credit scores in the 580-620 range will face stricter debt-to-income ratios in 2013. In other words, the less debt you have, the better.

The good news is, these changes shouldn't derail anyone's plans to buy a Delaware home. Even with the new changes in 2013, FHA-backed mortgages remain attractive.

Need more information about buying a Wilmington or Newark home? As your experienced real estate professional I'm here to help you! I can also refer you to FREE home buying seminars and help you find the best home for the right price.

Contact me for neighborhood price trends, recent sales, and expert guidance in our fast-changing real estate market.

When the subject of relocating for retirement comes up, most people assume the top choices are sunshine states in the far South and West. But if you do your homework, you'll find that one the top states for retirement is the "First State" - Delaware!

In fact, we have an excellent selection of Active Adult home listings on the market in Newark and Wilmington. New developments are under construction, and there's a wide range of prices and amenities for just about any budget.

Why do so many seniors and retirees choose Delaware? Here's a quick rundown that I put together from Kiplinger's recent article, along with local data:

1. There is no State or local sales tax.

2. State income tax rates are modest; highest rate is 6.75% on annual incomes over $60,000.

3. Social Security benefits are not taxed.

4. Taxpayers 60 and older can exclude $12,500 of investment and qualified pension income.

5. Homeowners 65 and older can get a credit equal to half of the school property taxes, up to $500.

6. The DE property tax rate is significantly lower than MD, NJ, PA, NY, and VA.

7. Baltimore, Philadelphia, Washington, D.C. and New York City are within an hour or two's drive; accessible without being too close to the congestion.

8. The University of Delaware offers a Higher Education for Senior Citizens program. Citizens 60 years of age or older, who are formal degree candidates, may attend classes for credit tuition free.

9. There's ample history to explore in Delaware - we've been making history since 1787!

10. Recreational opportunities abound, with ample beaches, parks, wildlife areas, golf courses, performing arts venues, dining, shopping, gaming, and more!

Don't just take my word for it - visit Delaware for yourself! If you are considering relocation, the communities of Wilmington and Newark have much to offer, and I would be happy to show them to you. You can also explore our beautiful homes for sale and compare the broader market to the unique advantages of a 55+ residential community.

As your professional Wilmington and Newark, DE real estate agent, I have the local expertise and dedication to service that will make your relocation experience a smooth transition. You can trust my professional guidance to help you find the right home within your budget, and respond to your needs!

For more information about Delaware homes and our wonderful communities, please contact me today!

Newark's college-town charm will be on full display during the University of Delaware Homecoming Week, October 15 through 21! UD Homecoming is a proud tradition, giving alumni the opportunity of relive memories, reunite with friends, and enjoy the best in college football with the Fightin' Blue Hens. Here's just a few of the highlights:

Kick things off Friday, October 19, with "Blue Hens on Main!" The party starts at the Trabant University Center, then travels to favorite haunts on Main Street, and eventually returns to the Center for a late-night breakfast buffet. Bus service will be available. Only $15 per person, registration required.

The big game is Saturday, October 20, when the Fightin' Blue Hens take on Rhode Island at the Delaware Stadium! Alumni can opt for the Homecoming Alumni Social Package, and general admission is available to the public. Go Blue Hens!

After the game, change things up with classical music! A violin and piano recital featuring the talented Xiang Gao will take you through masterpieces written by Bach, Beethoven and Brahms. The public is welcome; general admission is $25.

There's more happening throughout Homecoming Week than what can be listed here, so visit the University of Delaware Homecoming pages for the complete schedule of events!

Being UD alumni myself, I look forward to Homecoming Week. And as your real estate professional, "homecomings" are my specialty! If you are looking to buy a home in Newark, I can give you the home field advantage!

Contact me for neighborhood price trends, recent sales, and expert guidance in today's fast-changing real estate market.

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