Kat Geralis Home Team Wilmington DE Real Estate News Archives

Blog

Displaying blog entries 1-2 of 2

Tips for First-Time Homebuyers in Wilmington, DE

Thursday, March 20, 2014
by Katina Geralis

It's officially spring and the Wilmington, DE real estate market is about to take off! Mortgage rates are rising, housing prices are increasing, homebuyers are noticing the local real estate market heating up in Wilmington and Newark. But if you've never purchased a home in Delaware, the task can seem a bit daunting. Don't worry! Whether you're ready to buy this season or next year, there are a few things that can help you prepare for your first-time homebuyer experience:

Determine Your Budget
Start your first-time homebuyer journey off on the right foot and speak to a lender or mortgage broker. Before you begin your home search for Wilmington real estate, you'll want to find out how much home you can afford. A lender or broker can help you determine your budget, which type of home loan fits your needs and also better assess your financial situation.

Find Where You Want to Live
One of the beginning steps in preparing to buy a new home in Wilmington is finding the right neighborhood. Start by taking a tour of the neighborhoods that peak your interest. You've heard the phrase "location, location, location," and when it comes to buying a new home, it could not be more true. After you find out where you'd ultimately like to live, you can narrow down homes in Wilmington and Newark. This can also help your real estate agent pick the best properties for you  and your needs.

Search for Homes Online
You have determined your budget and the neighborhood you'd like to live in, now you can begin your search for Wilmington real estate. Categorize homes by price, size, and location— you can use our home search tool to get started. "Early in the stages of looking for a home, online is a great place to start. You get a good general sense," one real estate insider advised. Although, when you have questions and concerns, always run them past your real estate agent. The internet does not always have the right information for your particular area.

Partner with a Great Agent
As your Wilmington real estate team, we can help you find the best neighborhood and homes for you, as well as help with mortgage tips, especially for first-time buyers. When you choose the Kat Geralis Home Team at Keller Williams, you are putting yourself in great hands whether this is your first or fifth time buying (or selling!) a home.

We're here to help you with your homeowner goals! You can also learn more about the buying process at 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
Follow me on Twitter

 

Home Sellers Getting Ahead in Newark, Wilmington Real Estate

Thursday, March 6, 2014
by Katina Geralis

In Newark and Wilmington, DE real estate, spring is characteristically a busy buying season and this year, it seems home sellers are already getting a head start. Now is the time sellers have actually begun preparing for the infusion of buyers into the local real estate market. Growing increasingly confident in how fast their homes will be able to sell, many of them are listing their Wilmington homes now. 

As you may have noticed, housing prices for Wilmington and Newark homes are on the uptick, mortgage rates are continuing to rise, and more homeowners are regaining positive equity in their homes— a few of these all new to homebuyers for 2014. Given these factors, many sellers are ready to take advantage of the current state of the market and are listing their properties now to prompt homebuyers to strike before spring.  

But why the big push right now, many Wilmington homebuyers may wonder? According to one real estate expert, sellers are "nervous about what the spring is going to bring," the expert told Realtor.com. In fact, "they don't know if everybody will list this spring— then you’ll have a big counterbalance toward too much inventory — or if there’ll be a crunch again. They figure they’ll get out ahead of the market, list, sell, and be done with it.”  

Real estate economists and outlets are also predicting that with the increasing number of home sellers listing properties right now, the shortage of homes is on its way out. Last year's market was notorious for a lack of homes for sale in Wilmington and Newark, but now insiders suggest the current rising home prices will encourage more to sell and bring more homes into the market.  

In fact, "in the last four months of 2013, year-over-year inventory levels of homes for sale began to climb after 30 straight months of declines," reported the National Association of Realtors.

Wilmington and Newark DE homebuyers will want to take advantage of the added inventory they may notice in the area before mortgage rates and housing prices rise even further. And despite a waning enthusiasm for real estate over the past year, both sides— Delaware homebuyer and home seller— have now seen a confidence boost.  

“In some markets, prices may rise further and buyers will want to catch it, before the increases put them out of their budget," Realtor's chief economist told Bloomberg.  

Ready to list your home this spring? Prepared to make a move to a new Wilmington home before the busy spring and summer seasons? Contact us today to reap the homebuyer (and seller!) benefits at this time!

New to the real estate market? No problem! You can also learn more about the buying process at 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
Follow me on Twitter

 

Displaying blog entries 1-2 of 2

Syndication

Categories

Archives

Kat Geralis Home Team Real Estate