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Wilmington Real Estate: Where Mortgages Rates Are Going

Thursday, October 31, 2013
by Katina Geralis

If you've been on the fence about buying real estate in Wilmington, DE, you may be anxious to know where the rising mortgage rates are headed. In today's housing market, this is the primary factor— along with rising housing prices— that decide whether Wilmington DE homebuyers will take the steps forward and start the real estate journey.

According to the Mortgage Bankers Association forecast, "mortgage rates will likely rise above 5 percent in 2014 and average 5.3 percent by the end of 2015."

From where things stand now in real estate in Wilmington, DE, that's a big difference. In fact, just this week the Mortgage Bankers Association reported that the average 30-year fixed mortgage rate was at 4.33 percent which is the lowest average since June.

What's keeping the rates so low? The Federal Reserve's bond-buying program that will soon begin to taper down as we move into 2014. "The MBA expects that the Federal Reserve will decide to taper its $85-billion per month bond-purchasing program in early 2014 and end it altogether in September 2014," reported Realtor Magazine.

The MBA's Chief Economist weighed in: “As a result, mortgage refinancing will continue to drop, and borrowers seeking to tap the equity in their homes will be more likely to rely on home equity seconds rather than cash-out refinances."

And with the bulk of mortgage applications being refinancings, the MBA has also projected that that trend begin to slow and soon enough, reverse by next year. The new trend will be purchase loans making up 60 percent of originations next year, due to an increase in home sales and home prices, as compared to about 38 percent this year. 

Are you ready to take the plunge before mortgage rates rise even further? 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
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Wilmington, DE Real Estate Market Stats— October 2013

Thursday, October 17, 2013
by Katina Geralis

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

Upgrading Your Wilmington Home This Fall

Thursday, October 3, 2013
by Katina Geralis

This fall is a popular time to make upgrades to homes in Wilmington, DE and many homeowners are planning renovations. According to the Zillow Digs Fall Home Improvement Trend and Spending Survey, "more than half [52 percent to be exact] of homeowners plan to make a home improvement or addition this fall." Are you one of these homeowners ready to upgrade your spaces in Wilmington, DE? Here's what you need to keep in mind this time of year:

Getting Started

Planning to make smart improvements to your home is one of the first steps in renovating. Think about what homebuyers in Wilmington, DE want in local real estate, what they're looking for in terms of home features, and if you're implementing home upgrades like appliances, think about the home improvements that are typically used by sellers to make an immediate impression on Wilmington, DE homebuyers. Once you've researched these elements of Wilmington, DE real estate, you're ready to get rolling on your renovation project.

Find Inspiration

You've researched, you know what homebuyers are looking for in real estate in Wilmington, DE. Now it's time to find inspiration for these new features heading into your home. Start the search online, like many homebuyers do, and find similar homes and how they've renovated their homes in similar ways. It's helpful to have photos, links, and design ideas before you head into this major project.

Popular Fall Renovations

Popular areas being renovated in Wilmington, DE homes are the home office and even playrooms— for both adults and childrens. Homeowners and homebuyers alike want clean, functional spaces that serve a dual purpose. For instance, a home office that doubles as a guest bedroom or an office that doubles as a library. Especially since the weather is changing this time of year, homeowners are looking for play areas for their children indoors and areas for them to take their activities inside. "Families want play spaces that keep the kids occupied as well as nearby areas for adults to stay active, such as a workout area or pool table," said the Zillow Board of Designers.

Why To Renovate

More than ever before, homeowners are seeing bigger returns on renovation projects at their homes in Wilmington, DE. Remodeling has finally regained the great investment factor and now, homeowners nationwide are seeing as much as a 61 percent return on their remodeling costs when the time comes to sell. Where is the biggest return coming from? It seems smaller projects and practical replacement jobs provide the best return for homeowners.

Looking to sell your newly-renovated home and 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

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