Kat Geralis Home Team Wilmington DE Real Estate News Archives

Today, Americans are moving for a variety of different reasons. The current health crisis has truly re-shaped our lifestyles and our needs. Spending extra time where we currently live is enabling many families to re-evaluate what homeownership means and what they find most important in a home.

​According to Zillow:

“In 2020, homes went from the place people returned to after work, school, hitting the gym or vacationing, to the place where families do all of the above. For those who now spend the majority of their hours at home, there’s a growing wish list of what they’d change about their homes, if possible.” 

With a new perspective on homeownership, here are some of the top reasons people are reconsidering where they live and making moves this year.

1. Working from Home
Remote work is becoming the new norm in 2020, and it’s continuing on longer than most initially expected. Many in the workforce today are discovering they don’t need to live close to the office anymore, and they can get more for their money if they move a little further outside the city limits. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR) notes:

“With the sizable shift in remote work, current homeowners are looking for larger homes and this will lead to a secondary level of demand even into 2021.”

If you’ve tried to convert your guest room or your dining room into a home office with minimal success, it may be time to find a larger home. The reality is, your current house may not be optimally designed for this kind of space, making remote work and continued productivity very challenging.

2. Virtual Schooling
With school about to restart this fall, many districts are beginning the new academic year online. Education Week is tracking the reopening plans of schools across the country, and as of August 21, 21 of the 25 largest school districts are choosing remote learning as their back-to-school instructional model, affecting over 4.5 million students.

With a need for a dedicated learning space, it may be time to find a larger home to provide your children with the same kind of quiet room to focus on their schoolwork, just like you likely need for your office work.

3. A Home Gym
Staying healthy and active is a top priority for many Americans. With various levels of concern around the safety of returning to health clubs across the country, dreams of space for a home gym are growing stronger. The Home Builders Association of Greater New Orleans explains:

“For many in quarantine, a significant decrease in activity is more than a vanity issue – it’s a mental health issue.”

Having room to maintain a healthy lifestyle at home – mentally and physically – may prompt you to consider a new place to live that includes space for at-home workouts.

4. Outdoor Space
Especially for those living in an apartment or a small townhouse, this is a new priority for many as well. Zillow also notes the benefits of being able to use yard space throughout the year:

"People want more space in their next home, and one way to get it is by turning part of the backyard into a functional room, ‘an outdoor space for play as well as entertaining or cooking."

You may, however, not have the extra square footage today to have these designated areas – indoor or out.

Moving May Be Your Best Option
If you’re clamoring for extra space to accommodate your family’s changing needs, making a move may be your best bet, especially while you can take advantage of today’s low mortgage rates. Low rates are making homes more affordable than they have been in years. According to Black Knight:

“Buying power for those shopping for a home is up 10% year over year, with home buyers able to afford nearly $32,000 more home than they could have 1 year ago while keeping their monthly payment the same.”

It’s a great time to get more home for your money, just when you need the extra space.

Bottom Line
People are moving for a variety of different reasons today, and many families’ needs have changed throughout the year. If you’ve been trying to decide if now is the time to buy a new home, reach out to a local real estate professional to discuss your needs.

Have more questions about buying or selling a home in Delaware or Pennsylvania? Contact our experts with the Kat Geralis Home Team today!

We look forward to hearing from you!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
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These are uncertain times for everyone, no matter where in the world you live— especially when it comes to real estate. There are Delaware and Pennsylvania real estate rumors floating around about whether it's a good time to buy or sell your home amid a pandemic, and many more, but many of them can be debunked! 

As your local real estate experts in Delaware and Pennsylvania we are setting the record straight about buying and selling homes during this time!

Myth: It's a bad time to sell your home
Many homeowners who decided to sell this year have since pulled their homes from the market, mainly due to the fear of showings and others entering their property during this public health event. However, right now, research shows that buyers actually outnumber sellers which means it's better to be a seller in today's market! There is still plenty of demand for Delaware and Pennsylvania real estate, so if you're thinking about moving, you may not want to hold back!

Myth: Home prices are dropping
When you look at the data, you'll notice just the opposite— home prices are rising! Mortgage rates are still historically low and prices are currently growing faster than they did pre-COVID. 

In fact, according to the NAR, the national median price for single-family homes grew 7.7% during the first quarter of 2020, to $274,600.

Myth: Buyers aren't interested right now
The exact opposite is true! As we mentioned above, there are currently more buyers than sellers in the Delaware and Pennsylvania real estate market— which means you have a great chance of selling your home quickly and for the right price! 

According to NAR’s Pending Home Sales Index, pending home sales jumped 44.3% in May, the largest month-over-month increase since the index’s inception in 2001.

Myth: You can't view homes in person
Showings are still very much an option for buyers in Delaware and Pennsylvania, while they may not have been a few months back. Real estate agents take extra precautions to keep their clients safe during this time, so you are able to view homes in person, but if a virtual tour is better for you, that is an option as well!

Myth: Mortgage rates are rocky
As you may have noticed all year, mortgage rates have stayed steadily low! There is no chance of rates skyrocketing right now, so if that is holding you back, take a deep breath. As of July 16, mortgage interest rates dipped below 3% for the first time in 50 years, to 2.98%, according to Freddie Mac.

Have more questions about buying or selling a home in Delaware or Pennsylvania? Contact our experts with the Kat Geralis Home Team today!

We look forward to hearing from you!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
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When you're shopping for a new home in Delaware or Pennsylvania, you'll want to research everything from the square footage to the property taxes to, perhaps the most important, the neighborhood. But when you're in such strange times as these where you might be sheltering in place, it's key to note you don't actually have to visit the area to do your due diligence.

There are several ways to research a neighborhood in Delaware and Pennsylvania right from your own home!

Browse local social media
Use the power of social media to research a potential neighborhood when shopping for homes in Delaware and Pennsylvania. You can use apps like NextDoor, Facebook, or even dig into geo-specific hashtags or locations on Instagram, for instance, to look for activity and posts in a certain area. 

Use Google Maps
If you've ever looked up directions via Google, you'll notice Google Maps has a great feature in which you can actually zoom all the way in and virtually walk the street. Google Street View allows you to navigate around neighborhoods without even leaving your couch!

Search websites with neighborhood data
Dive into websites like Yelp, AreaVibes, and City-Data to find out more in a neighborhood, including livability scores, average home prices, and reviews on locations from local residents.

Call your real estate agent
As you know, your real estate agent is a wealth of information when it comes to buying a home— and that includes the neighborhoods in your desired area of Delaware and Pennsylvania. Ask your agent all of your burning questions! After all, they will be able to take your wants and needs and point you to the best spot for your next home!

Check crime rates
Crime rates can provide data on the safety of a specific area. Use a website like CrimeReports to look up the area's stats from local law enforcement agencies.

Ready to purchase a home in Delaware or Pennsylvania? Let the Kat Geralis Home Team be your guide!

We look forward to hearing from you!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
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This time of year, Delaware and Pennsylvania residents have filed their taxes and thinking one step ahead, are now planning ways to spend their refund. While you likely have dozens of ideas about how you're going to spend your money this time around, why not invest it back into your home? 

The following home upgrades actually pay off at resale and will be well worth their initial cost:

Remodeled Kitchen
Upgrading your kitchen is one of the smartest investments you can make in your Delaware or Pennsylvania home. Stick to high-quality fixtures, including stainless steel appliances and granite or quartz countertops. However, also keep in mind the size of your home when remodeling. If your home is a smaller, two-bedroom, you may not recoup all of your investment. Do not be afraid to ask your real estate agent about the best upgrades for your home's size if you're planning to sell this year!

New windows
During the winter months, you may notice drafts around your windows and doors, not to mention higher energy bills each month. Replacing windows will keep your home warmer and intrigue Delaware and Pennsylvania buyers that are looking for a newly-updated home.

Landscaping
Curb appeal is the first thing a buyer will notice when they visit your home or view it online. Every addition from hedges to flower beds is well worth your while as a homeowner as these tell homebuyers that you care about your property and its upkeep.

If you're thinking about selling your home in Delaware or Pennsylvania, it is wise to invest in the upgrades that will pay off! Contact the Kat Geralis Home Team today with any questions about the real estate market or for more information about selling your home for top dollar in DE and PA!

We have helped many Delaware and Pennsylvania home sellers find the right buyer and we'd love to help you do the same! 

We also offer a FREE Home Seller e-Guide and FREE Home Valuation Tool! 

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
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Buying a home in Greater Wilmington, Chester County and Delaware County PA can be both an exciting and overwhelming process. In fact, it's easy for buyers to get so caught up in the commotion of finding the perfect property, applying for a mortgage and securing a loan that they forget to ask their real estate agent important questions.

As your local real estate experts in Delaware and Pennsylvania, the Kat Geralis Home Team has provided five essential questions to ask your agent before buying a home— a few you may be inclined to overlook in all of the home buying hustle!

Has the home had any upgrades, major renovations or additions?
If the sellers of a home in Wilmington, Newark or the surrounding areas have made any major changes, you will want to know what they did and how much it cost them. Why? This gives you a sense of how much money they have invested into the property and how much they intend to get out of it in the sale. And before you begin to stress about having to match what they spent on the upgrades, keep in mind that return on investment varies by which renovation or upgrade was made.

What is the home's history?
Before you purchase a home, you will want to research its sales history. Find out the last time the home sold and how much it sold for in order to get an idea of what the sellers may expect a buyer to pay. However, it's also key to remember that home values are based on comparable properties and the current market which could be quite different depending on the last time the property was for sale.

How old are the major features?
Home features like the roof, furnace, A/C, plumbing and electrical are all crucial to research prior to signing on the dotted line for a home. These can all be quite costly to fix should any problems arise, so you will want to know their age and if they've been repaired or replaced recently.

What are the property taxes?
The property taxes of a home in Greater Wilmington DE, Chester County and Delaware County PA can make a big impact on your mortgage payment— so budget accordingly! Take into account what the sellers paid, but also remember that these are based on the value of the home which could be affected by your ultimate purchase price.

How much are the monthly maintenance fees?
If you're looking into buying a townhouse, condominium or single-family home in a homeowners association, take the time to research their monthly fees. You can also ask the sellers in advance what the average utility bills look like in order to factor them into your budget.

Wondering what else you're forgetting to ask when house-hunting in Delaware and Pennsylvania? Give the Kat Geralis Home Team a call! We will ensure all of your questions are met and you are prepared with all of the necessary information to avoid any later hiccups in the homebuying process.

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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Now that spring has arrived, many homeowners and potential homebuyers are wondering if now is the right time to make a move. The KG Home Team is always happy to provide information about the local real estate market, including these updated market statistics for New Castle County Delaware!

For the first quarter of 2016, there were 2,362 homes for sale— a 4.4 percent decrease in inventory from this time last year. And while New Castle County is indeed experiencing the low inventory that can be found throughout much of the country right now, both the sales prices of homes in the area and the number of closed sales are up from 2015! 

The average sales price for the first quarter of 2016 was $230,441—up 2.5 percent from last year—and the number of closed sales totaled 1,230— up 9 percent from last year! Home sellers in New Castle County DE were also reported to have received 93.5 percent of the original price at closing, which is an increase of .4 percent from 2015!

As you can see from the infographics above, buyer demand is high despite the lack of inventory in the local market; the first quarter is showing inventory at a 4.5 months supply, 15.9 percent lower than last year's inventory during the same time.

It is a great time to be a home seller in Greater Wilmington and Southeastern PA, with sales prices and closed sales increasing, in addition to a great time for buyers with mortgage rates still at historic lows! Remember, these updated statistics provide a brief snapshot of levels in the local real estate market, so do not hesitate to contact the KG Home Team with any questions about homes for sale in the area!

Our top-notch agents are here to help with any of your needs this year, from finding your dream home in Delaware or Pennsylvania to selling your current property! 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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Whether you're relocating to the Greater Wilmington area for work or simply ready to move to a new home, there are dozens of factors that help to determine the location of your next home. And as the spring real estate market begins to heat up in Delaware and Southeastern Pennsylvania, you will want to make sure you cover all of your bases before deciding on a property.

Below are four factors that Wilmington DE, Chester County and Delaware County PA homebuyers will need to look into further before purchasing a home in a given neighborhood:

Crime statistics
In your home search in Greater Wilmington, you may have found a home that looks perfect— but how much do you really know about the area? It's important to research crime statistics before falling in love with a property and lucky for buyers, it's relatively easy to do. Local government websites typically keep a crime database where residents can look into crimes on a specific street or in a specific area. You can also break the crimes down by type so you can determine the seriousness of each. 

School districts
Homebuyers with children will be increasingly concerned about the school district a Delaware or Pennsylvania home falls into. Compare homes across school districts and keep in mind that those in great districts tend to appreciate faster and could help you sell quickly in the future.

Property taxes
Before you decide to purchase a home in Wilmington, you will need to consider all factors surrounding the property, including property taxes. Include down payment, closing costs, and annual property taxes into your budget to get a better idea of how much home you can afford. It is also wise to compare property taxes in different areas to see how they differ and which realistically fit into your price range.

Your credit score
We've mentioned in the past the importance of your credit score when buying a home. For instance, the better the score, the better the loan terms and lower mortgage rate you may be able to secure. As you search for homes in Delaware and Pennsylvania, especially keeping certain neighborhoods in mind, decide if you will need to raise your score to keep your mortgage both affordable and attainable. Sooner is always better when it comes to improving your credit score!

Do you have questions about which neighborhood might be the best fit for you? The KG Home Team has years of expertise in helping Wilmington, Chester County and Delaware County PA buyers find the best home and we are happy to help!

Give us a call today!

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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The official beginning of spring is now just a week away and the weather is gradually getting warmer in Greater Wilmington and the surrounding Brandywine Valley. This is the time of year many Chester County and Delaware County PA area residents begin to think spring and head outside to both enjoy the weather and what the local communities have to offer.

Lucky for us, the Greater Wilmington area has dozens of spring-centered events planned for the coming weeks and as your local real estate experts, we're happy to share a few of them with you!

Spring Wine Festival
March 19-20, 2016; 12 PM to 6 PM
Chaddsford Winery
Chadds Ford, PA

Complimentary treats, live music, food trucks, wine and garden demonstrations are ready to be enjoyed at this festival celebrating the start of spring!

Orchid Extravaganza at Longwood
Through March 27, 2016; 9 AM to 5 PM
Longwood Gardens
Kennett Square, PA

With over 5,000 orchids in various arrangements and forms, the Orchid Extravaganza at Longwood Gardens is a uniquely spring event! You can find the popular orchid meadow, large orchid baskets, an oncidium waterfall display and this month, the rare sky-blue poppies in bloom!

Newark Annual Egg Hunt
March 19, 2016; 10 AM
White Clay Creek State Park
Newark DE

Newark's annual egg hunt begins at 10 AM this Saturday! The Walking- 2 years old category and 3 and 4 years old category both at 10 AM, 5 and 6 years old category and 7 to 9 years old category at 10:30 AM. Admission is $4 for Delaware vehicles, $8 for out of state.

Easter Bunny Express
March 19-26, 2016; 11 AM to 4 PM
Greenbank Station
Wilmington DE

Come aboard the train for a 1 1/2 hour round-trip ride to Ashland with the Easter Bunny! Trains depart at 12:30 and 2:30 and all kids get a special treat and picture with the Easter Bunny.

Chester County Antiques Show
April 1-3, 2016
The Phelps School
Malvern, PA

The Chester County Antiques Show is now in its 34th year, benefiting the Chester County Historical Society. The show attracts numerous visitors and vendors alike every year to view and display the show's furniture and antique items. This year's theme is Tomfoolery!

If you have questions about moving to Delaware or Southeastern Pennsylvania this year, do not hesitate to give the KG Home Team a call! Our team has been named a 5 Star Real Estate Agent over and over again and we are here to put our expertise to work for you!

Happy spring!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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Did you know Millennials (the age group of those born between 1980 and 1995) love working with real estate agents? According to the National Association of Realtors 2015 Home Buyer and Seller Generational Trends Report, Millennials are the largest homebuying generation in the U.S. and work with real estate agents more so than any other generation.

For instance, the Home Buyer and Seller Report found the following interesting statistics surrounding Millennials' real estate behaviors:

• 90 percent use a real estate agent to buy a home
• 70 percent would use their agent again, compared to 63 percent of home sellers
• 94 percent used websites to search for their homes
• 51 percent of buyers found their home online
• 75 percent of buyers used a real estate agent to walk them through the process

And despite the vast number of Millennials using an agent to buy or sell a home, they have the lowest percentage when it comes to using an agent again or recommending them to others (63 percent of home sellers).

Why is that? As stated by real estate news platform Inman, Millennials are harder to please than any other generation. They grew up with smartphones and the internet, thus they are different than any other real estate consumer.

Millennials are looking for the following in a real estate agent:

• Texting, but also phone calls
  More than any other generation, Millennials appreciate when their real estate agent communicates via text message. However, 75 percent of them also appreciate phone calls.
• Homes online
  Millennials appreciate browsing homes online more so than any other generation. The majority (58 percent) use iPhones, while 32 percent use Androids.
• Website information
  Millennials are more likely to use website information in their home search as well as throughout the buying and selling process. They want real estate agents who provide this readily and easily!
• Honesty and trustworthiness
  More than a quarter of this group of homebuyers look for agents who are both honest and trustworthy.

We understand how overwhelming choosing a real estate agent can be and The Kat Geralis Home Team is proud to provide all of the above to homebuyers and sellers in the Greater Wilmington DE area! If you are searching for a highly-rated real estate agent to walk you through the process this year, do not hesitate to reach out to us! 

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Millennials are also now putting less down on their future homes! In fact, 64 percent of Millennials put down less than 20 percent, with 36 percent putting down less than 5! Don't let the down payment factor hold you back from purchasing a home this year— homeownership is well within your reach.

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

Now that it's May, most of us likely have our sights set on summer— Warmer weather, a schedule free from school and more fun events to attend. Wilmington, Delaware is a great place to spend the spring and summer months with numerous activities, events and attractions to visit with the whole family. 

Whether you're relocating to Wilmington or Newark DE, simply visiting for the weekend or wanting to get out and explore the community, consider the following 8 things to do and see. There's something for everyone on the list!

• DuPont Environmental Education Center

FREE! Hands-on activities and exhibits are housed in this 4-story nature center located on Wilmington's Riverfront.

• Delaware Center for Contemporary Arts

FREE! With rotating exhibitions among its seven galleries, this local museum has been called "one of the most innovative and prominent organizations of its kind on the East Coast," by the Philadelphia Inquirer. 

• ​Delaware Museum of Natural History

Here you can find life-size dinosaurs, an African watering hole, undersea adventure and even get up close to a jaguar! 

• Brandywine Park

Enjoy a stroll, have a picnic, bike from Brandywine Park to Rockford Park. 

• Wilmington & Western Railroad

The railroad has become one of the East Coast's premier scenic tourist railroads and is ready to celebrate its 50th season this year. 

• The Riverfront

A great place to catch a baseball game, have dinner, watch a movie or enjoy the entertainment planned for the day.

• Hagley Museum

An example of early American industry situated on 235 acres along the banks of the Brandywine. 

• Downtown Wilmington

Visit the Farmer's Market opening May 6, ride the Wilmington Trolley, tour local shops and businesses. Downtown is a hub of creativity! 

The KG Home Team is proud to call Wilmington, DE our home and we know you will be too! As your local real estate experts, we can provide local suggestions and fill you in on what it takes to become a homeowner in New Castle County. 

Contact us today!

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