Kat Geralis Home Team Wilmington DE Real Estate News Archives

In past months, the outlook for new construction homes has been less than significant, but it seems the month of August saw a major turnaround. With an improving job market and low mortgage rates, home builder optimism soared, thus boosting their outlook for sales.

According to the National Association of Home Builders, builder confidence in the single-family home market rose two points in August. With the number rising to 55, it was the second consecutive month at a level over 50, indicating that builders are viewing the market conditions are more positive than negative. The builder confidence index was previously expected to hold steady at a 53, according to economists, but builders are growing increasingly optimistic given the job market and mortgage rate factors.

Declining affordability for homebuyers had pinched home builders in the earlier part of the year, but NAHB Chief Economist is confident the new construction market will see improvements, including further increases in confidence, as we move forward.

"Factors contributing to this rise include sustained job growth, historically low mortgage rates and affordable home prices," he said. In addition, these favorable conditions are also prompting more serious homebuyers to enter the market.

What does this mean for you as a Wilmington, DE homebuyer? With builder optimism at a seven-year high, you can confidently move forward as a local homebuyer— it's time to team up with a buyer's agent to begin your new construction home purchase. 

Many Delaware homebuyers make the mistake of buying a home directly from the builder, while a buyer's agent can work on your behalf oftentimes with much better results. A salesman will look out for the best interests of his own company, while a buyer's agent looks out for you! Your buyer's agent will also ensure you're not overpaying for a property, given other comparable homes in the area, which is a common new construction blunder for those that forgo working with an agent entirely.

We're happy to help you along every step of the homebuying journey— whether you're interested in an existing home in the Wilmington or Newark area or new construction properties. Contact us today to see what's available!

We look forward to hearing from you.

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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Summer is an exciting time in local real estate— the conditions are ideal for moving, homebuyers are feeling motivated and home sellers are ready for a change of scenery. However, despite the market statistics on rising mortgage rates and housing prices, there are still a few buyers on the fence.

If you find yourself wondering if now is the right time to buy in Wilmington, consider these top 5 reasons to own a home:

Paying rent is not the best investment
If you're currently renting, ask yourself where your money is going every month. When you rent a home in Delaware, you are paying down your landlord's mortgage, not your own. When you own a home, you are paying down your own mortgage and putting your money into a much more solid investment.

It motivates you to get involved
Owning a home can be a great boost of community pride for Wilmington, DE residents. It motivates you to get out and get involved in local events, neighborhood issues and upkeep. Homeownership can help you to feel like you're coming back to a place that is truly your own.

You need more space
When deciding whether to purchase a home in Wilmington or Newark, ask yourself if you have enough room in your current home. Do you have enough storage space? Is your family growing? Could you use an extra bedroom? If you answered yes to the last two questions, then it may be time for you to move. Homeownership allows you to choose a new home that fits your needs, especially in terms of extra space.

The financial opportunity
Right now is an exciting time in the local real estate market as mortgage rates are still considered "low" but slowly rising— it's a time where potential buyers can make a move without feeling the financial strain or without feeling like they've been "priced out" of the market. Real estate is very much about timing and if you've been on the fence, the time is now!

Your family needs
If your family is growing, school districts are something to take into account. Purchasing a home allows you to choose the best district and put down some roots— many homebuyers today are willing to move for the schools, so consider your family's needs when making your decision.

Whether you decide to purchase a new construction home or an existing home, the KG Home Team can help you! We will act as your buyer's agent in cases of new construction, as well as answer all of your questions about first-time homebuying! We even offer FREE first-time homebuyer seminars!

Image via Keeping Current Matters

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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With more homebuyers in the local real estate market this summer, one thing is for certain— buyers are looking for home features that their current homes do not already supply. Popular selling points like extra storage, organization, a great location, low-energy features and low maintenance will stand out to those looking to purchase a home in Wilmington and Newark area.

If you're a Wilmington home seller, it's important to highlight your home's best features, no matter the reasons you're moving on. Don't take your current home for granted and you could just set the stage for a home sale. 

Storage Space
For many homebuyers in the Delaware real estate market right now, especially those first-time homebuyers who are dealing with little space, storage is a big plus. Despite what you think of your home—maybe you have a standard basement or garage that you use as storage—a first-time homebuyer may think they've hit the jackpot. Built-in storage in the kitchen? Large, extra closets? Be sure to highlight these selling points to buyers!

Location
In Wilmington area real estate, location is key. But put yourself in a homebuyer's shoes. Keep in mind that not everyone may be familiar with your neighborhood, they may not know the local attractions around you or the great schools that are across the street. Tell them! Your pointing these out, or rather your expert real estate agent, could just push the home to the top of their list.

Low Energy, Low Maintenance 
When moving to a new home, many buyers will be looking for low upkeep and especially low-cost, low-energy appliances and features. As a home is the biggest purchase one will make, any features in place that can help keep costs down will appeal to buyers. Do you have a new, energy-efficient water heater? Recently replaced insulation? Buyers will be glad to know!

Together, we can work to properly market your Wilmington or Newark DE home to the right buyers. By pricing the property well and hitting all of the key selling points—highlighting your home's best features— you can be on your way to settling into your next home.

Contact the KG Home Team today to discuss the many other ways we can assist you in selling your home!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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Before you dive into the local real estate market, take a look at these updated statistics for the Wilmington, DE area. No matter if you're planning to sell your current home, purchase new construction or become a homeowner for the very first time, the Kat Geralis Home Team is here to help— 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

When shopping for a new home in Wilmington or Newark DE, homebuyers will likely browse a mix of existing and new construction properties. Your real estate agent is there to help with every step along the way, with every milestone of your homebuying journey— but what if you choose new construction? Many homebuyers make the mistake of purchasing the home directly from the builder, foregoing the agent entirely. There are many benefits to using a buyer's agent when purchasing new construction, so don't hesitate to reach out to the Kat Geralis Home Team for help this summer!

Your Buyer's Agent Works for You
When you work with a buyer's agent in buying a new construction home, you can be certain they are working with your best interests in mind. When you buy directly from the builder, this is not the case. The salesman of the properties is looking out for the best interests of his own company, not necessarily for yours as the buyer. A buyer's agent is all yours— available to help you find the best home in Wilmington or Newark and at the best price. 

Your Buyer's Agent Has Experience
No matter if you're purchasing an existing home or new construction, you'll want an agent with experience and knowledge of the area. Your buyer's agent makes it their main priority to stay educated on the current market trends and available properties. The KG Home Team is an expert resource for real estate in Wilmington and Newark and comes packaged with years of experience to aid in your home purchase.

Your Buyer's Agent Helps You Save
Having decided to purchase a new construction home, be aware that this is likely one of the biggest purchases you'll ever make, so let your buyer's agent work to save you money. Your buyer's agent has the experience and knowledge of the area that will help you find the best deal— knowledge that a builder or their salesperson may not have. Your buyer's agent will ensure you are not overpaying for a home by researching comparable sales and properties. Finally, they've been through this before! Your buyer's agent knows the secrets of purchasing new construction and the in's and out's of working with a builder.

Your Buyer's Agent Negotiates
As a homebuyer, you don't want to have to be the negotiator. Your buyer's agent does this for you! Regardless of what the builder says about negotiating on price or other features, your agent knows there is always room. The buyers agent has mastered the art of negotiating and this can help you save thousands in the grand scheme of buying a new home.

Are you thinking of purchasing a new construction home this summer? Let the KG Home Team work on your behalf! We'll do the research and the negotiating so you don't have to— we're here to help! Contact us today.

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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If you're a first-time homebuyer, the necessary steps to purchase a home in Wilmington or Newark may not be entirely familiar. Before you become a homeowner, there are a few financial decisions you should make to help ensure your success of getting a mortgage and affording your first home. For instance, creating a budget and trimming the excess expenses. Here are a few to-do's to take on this summer, future homebuyers— you'll be happy you did when the time comes to close on your dream home.

Start Saving
Saving for your future home should be on every Wilmington homebuyer's mind, especially if you plan to include a significant down payment. As a homebuyer, you should first take care of any debts owed and improving your credit score before you take on building your homeowner's fund. However, if you've already completed these financial tasks, try to build up your savings to cover at least six months of living expenses. Homeowners are often faced with unexpected costs, like a water heater that needs repairing. This savings will come in handy as you transition into your new role and assume the added responsibility that comes with your home.

Steady Your Income
Potential homebuyers should be sure they have a steady income before buying a home in Wilmington or Newark. Use a mortgage calculator to factor in your income to homeowner's expenses, including utilities, taxes and insurance. If the numbers don't fit in your comfort zone just yet, keep saving and bolstering your income. A mortgage is a long-term financial commitment and you should only purchase Wilmington real estate when you're certain your financial situation will allow for the payments.

Improve Your Credit Score
As I mentioned above, paying your debts and improving your credit score is an important task to complete before purchasing a home in Delaware. When you apply for a mortgage, a lender will examine both your income and credit score. Research your score before you apply for a mortgage as this is a major factor in deterring your rate and whether or not you even qualify.

Stick to Your Budget
Have you created a budget? Go over your finances and determine where your money goes each month— write down each amount and create categories for purchases and expenses. Next, come up with a budget that allows you to trim the financial excess and try sticking to it for a few months. If you can comfortably follow a budget, it may be a sign you're ready to buy a home.

Buying a home in Wilmington or Newark is a big step, especially if this is your first-time purchasing Delaware real estate. The Kat Geralis Home Team can help you with preparations and provide information on the current market where you live. Contact us today to get started on your journey to becoming a homeowner in Wilmington or Newark!

And remember, we also offer FREE first-time homebuyer seminars to help!

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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Summer is the time to get outdoors, explore your Delaware community, slow down and visit the attractions— everything Wilmington and Newark have to offer. From spending a weekend on the Riverfront to catching a baseball game, this season will be filled with great events and something for the whole family to enjoy. This Father's Day weekend is no exception! Dad will love to catch a baseball game or take in an exhibit at the local museum, so mark these on your calendar. Below are 4 must-see events to attend with Dad this Father's Day:

Just for Dad 
Friday, June 13, 2014 through Sunday, June 15
10 AM to 3 PM
Delaware Children's Museum
Wilmington, DE

Admission to this Father's Day event is free (with general admission), held at the Delaware Children's Museum this Friday through Sunday. This is a great opportunity for kids to bring Dad out for a day of fun and create a special, one-of-a-kind Father's Day card for him. A chance to celebrate Dad and bonus, enjoy the rest of the museum this weekend!

Retro*Active Performance Art from 1964-1987
Saturday, June 14, 2014; 10 AM to 4 PM
Delaware Art Museum
Wilmington, DE

Performance art was made popular in the mid 1960's and has grown over the past few decades to include music, theater, technology, dance and most importantly, audience participation. This is an interactive event that goes hand-in-hand with the Museum's "Performance Now" showing. This historical view of performance art will be available nearly all day Saturday and involves artists like Chris Burden, Dan Graham, Joan Jonas, Paul McCarthy, Yoko Ono, and Carolee Schneemann to really showcase the movement.

Little Shop of Horrors
Friday, June 13, 2014; 8 PM to 10 PM
Wilmington Drama League
Wilmington, DE

Kick off Father's Day weekend early with a performance of Little Shop of Horrors by the Wilmington Drama League. The showing includes three musical female narrators, star-crossed lovers, and a crazy florist for one fun-filled evening. Little Shop of Horrors put on by this great local group is just the entertainment you need to segue into a relaxing weekend.

Blue Rocks vs. Carolina Mudcats
Saturday, June 14, 2014; 7:05 PM to 9:05 PM
Frawley Stadium
Wilmington, DE

What better way to spend a Dad-dedicated weekend than at a baseball game? And the local Wilmington Blue Rocks at that. Saturday is part of the "Dog Days of Summer" series, so you can bring your pup along too! Not to mention the first 1,000 fans will snag a dog-themed giveaway prize from Concord Pet Food and Purina. Baseball, pets and a night under the lights— Dad will love it!

The Kat Geralis Home Team is always here to help you learn more about the Wilmington and Newark areas, from recommendations to local happenings to buying and selling homes. Questions? We'd be happy to hear from you!
 

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
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The home search is only the beginning, it's also the most important aspect of your Wilmington real estate journey. It all starts with getting a feel for price ranges and what's available in your desired neighborhoods of Newark and Wilmington, then moving on to what you like and desire in a home and finally, touring those homes to find your best fit. With these home search tips, you'll be well on your way to finding a new home this summer. First-time homebuyer? No problem! We even offer FREE first-time buyer seminars to help!

Make a Homebuyer Wishlist
One of your first tasks as a homebuyer in the Wilmington and Newark area should be to sit down and make a wish list. Establish priorities for available homes— do you want a certain number of bedrooms, but would settle for less if the home had a finished basement? Things like this all add up in the bigger picture of the Wilmington real estate market. Credit.com suggests to "make a list of the ten most important criteria for a new home. Then divide your list items equally under two categories: "top priority" and "nice to have." After you've made this list, take it with you as you search for homes. Delaware homebuyers can oftentimes get distracted when house-hunting and it's helpful to refer back to the list.

Start Your Search, Two Places
Keeping your homebuyer wish list in mind, you can start searching for properties, narrowing down by price range. Homebuyers should start their home search online, but also in person as homebuying is an emotional process that requires buyers to experience a property for themselves. Once you've made a list of available homes that interest you, then go with your Realtor to view the property up close and personal. Refer back to your homebuyer wish list and take notes while you're inside the homes. You can then go back to see what you did and did not like about each property.

Consult Your Realtor
No matter what stage of the homebuying process you're in, it's always helpful to have a real estate agent on your side. Remember, they've done this before, numerous times. If you have questions, consider your Realtor your communication hub and sounding board— every question or concern can go through them. While you may have started your home search online, know that your real estate agent has an "in" per se, their finger on the pulse of the real estate market in your community. They're a great resource for finding Wilmington, Newark homes that may have just come on the market or will be going up for sale soon. And as always, "if you discover a listing you like, you can pass it along for your agent to evaluate," adds Credit.com. "It's important to develop this partnership!"

The KG Home Team is here to help at every stage of your homebuying journey in the Wilmington, DE area. Contact us today to get started and go over homes that may meet your wish list— summer is shaping up to be an exciting time in the market, so don't delay!

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

For a successful real estate transaction in Wilmington and Newark, it takes two— both a homebuyer and home seller. Homebuyers have recently been built up as more confident than ever in their ability to purchase a new home—taking the local real estate market by storm— but now, home sellers are joining in.Wilmington home sellers are now recognizing that the low mortgage rates and housing prices won't last forever and now is a great time to move!

According to Fannie Mae in their most recent National Housing Survey, "The share of respondents who believe now is a good time to sell a home increased for the third consecutive month to an all-time high of 42 percent, an encouraging sign since many potential homebuyers will need to sell a home before entering the purchase market."

It seems the market has seen an overall shift in attitude for home sellers, with one senior advisor stating consumer attitudes toward selling are now at the most favorable level they have seen in the survey's four-year history. 

So why the sudden shift now? Wilmington, DE home sellers do not see the benefit in waiting to purchase a home or waiting for market conditions to move next to perfect. Home prices and mortgage rates are projected to continue rising over the next year and sellers are ready to take advantage of the current levels. Sellers also acknowledge that they are more likely to attract a homebuyer and come out with a sales price they are happy with while these mortgage rates are still low.

The majority of home sellers are looking to jump on this exciting time for Delaware real estate as they expect home prices to stay relatively the same, if not rise, over the next year. The survey's participants found only 5 percent actually expect prices to drop over the next 12 months. This is great news for both parties, as Wilmington and Newark homebuyers don't want to buy a home that may be worth less down the road.

There may indeed be more benefits to selling a home in Wilmington now versus waiting out the market— so take note! If you're ready to start your home search and like many others, attract homebuyers to your property while mortgage rates are still low, contact the KG Home Team today! We can help you sell your current property and be onto the next to enjoy the summer!

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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More homebuyers will be looking to the Wilmington real estate market this spring and summer. As a home seller, you would do well to highlight your Delaware home's best features. In many cases, staging can make all the difference! Some popular features a Wilmington DE homebuyer looks for are the number of bedrooms and bathrooms, storage space, and updated appliance, but they will be looking to see themselves in the home. Your home's overall flow, neutrality and ability to help the buyer feel comfortable are important— and much of this can be achieved by you, the home seller, with home staging. Below are a few staging tips to help you attract more homebuyers to the property:

Update the Spaces
It doesn't take much money to update the rooms in your Wilmington and Newark homes. For instance, a new coat of paint and shiny, upgraded hardware can all be done in a weekend, but really give the spaces a fresh, welcoming feel. To begin, make a great first impression and give your front door a fresh coat of paint. This little detail can help the potential buyer feel invited inside and give them a sunny outlook on the home overall.

Let There Be Light
Bright, airy homes are a must for many homebuyers in today's real estate market. And as a seller, you can add this factor yourself in your homes in Newark and Wilmington DE with updated light fixtures. But if adding in new or additional lighting is not an option in your home, simply swapping out low wattage light bulbs for high wattage bulbs can bring up the lighting factor with little effort. If you notice that updated light fixtures is one area where your home is lacking, replacing these is a great investment and can add charm to your home.

Bathroom/Kitchen Updates
Do you find that your kitchen is one of the areas of your home you spend the most time in? Homebuyers will notice that too! These are two areas where you'll want to focus your staging. You don't need a complete remodel, but updating appliances and fixtures here can peak homebuyer interest. At the very least, replacing the caulk and grout in these rooms is always a nice idea.

Curb Appeal
Again, first impression are everything when it comes to Wilmington, DE real estate. Take some time to amp up your landscaping, clean up the yard, replace railings and old outdoor hardware, make sure windows are clean and functioning— overall, take note that your home looks inviting from outside. Many homebuyers will begin their search online and if your home shows well in photos, it can bring them to your door!

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