Kat Geralis Home Team Wilmington DE Real Estate News Archives

You've purchased a home in the Greater Wilmington DE area and now you're waiting for it to officially become yours at the home closing. But what happens in the meantime? There are many obstacles that can still arise in between your accepted offer and your signing on the dotted line, so you will want to remain at the ready!

Below are a few important things to know about waiting for your home closing in Southeastern PA, Wilmington and Newark DE:

Your mortgage rate could expire
Pay attention to the timeframe on your "locked in" mortgage rate given by your lender. Many times, these are good for 30, 45, 60 or a specific number of days. If a problem such as an illegal renovation or open permits are found before the closing, your rate could expire and you will be subject to a higher rate. Be sure to keep a close watch on the process and your rate's timeframe! If you're worried, check in with your lender or real estate agent.

It's not over yet
Just because you've turned in the paperwork doesn't mean your loan is approved and ready to go. Many lenders will request more information up until the very last minute. Do not alter your finances or credit before your closing to ensure you bypass any roadblocks and if your lender asks for additional documentation, get it to them as soon as possible!

The home isn't yours yet
If you are able to do a final walk-through before closing, take advantage of it! You don't want to take possession of the home if certain systems are not working, the seller has not made the repairs he agreed to or hasn't moved out. You may want to postpone your closing if these conditions are not yet met.

You can still do research
Once you have the keys to your new Wilmington DE area home, it is your full responsibility. Do your research all the way up until the closing to check that there are no open building permits, no liens on the title, and no issues from the local assessor or health department. These can throw a wrench in your closing, but also cause you major problems if not resolved prior to your taking control.

Buying a home is one of the best investments you can make, especially as we head into a new year! Give the Kat Geralis Home Team a call today for more information about available properties, the local real estate market, the homebuying process and more!

We look forward to hearing from you!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Wilmington Real Estate
Wilmington Homes for Sale
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No matter if you live in Southeastern Pennsylvania, Newark or Wilmington Delaware, first-time homebuyers are tempted to commit the same common real estate mistakes. We know that the homebuying process can feel overwhelming and if you've found "the one," you may feel rushed into making a big decision. However, the last thing you want is to feel buyer's remorse!

As your real estate experts in Wilmington and Newark, DE, Chester County and Delaware County PA, the Kat Geralis Home Team has outlined three of the real estate mistakes we see most often among first-time buyers. Remember, if you know how to spot them, the less likely you are to run into the same pitfalls!

Not seeking professional advice
Are you self-employed? Are you worried you don't have enough for a down payment? Concerned that you won't qualify for a mortgage? Don't toss out the idea of buying a home just because you think it's not an option for you! It's always wise to seek professional advice, whether that be with your real estate agent or with a local lender, before you decide to make a home purchase. Only the experts will be able to review your specific situation and provide you with a buying timeline or realistic price range for a property. Don't make the assumption yourself!

Looking at homes out of your budget
As I mentioned above, don't make assumptions about your budget or price range until you have the facts in order! You can use a mortgage calculator to determine what a comfortable mortgage payment may be each month given your other debts and expenses, but until you meet with a lender, you won't know for certain. Be careful not to start looking at homes that may be out of your budget as you will only get your hopes up and be disappointed later. 

Not gathering mortgage quotes
Not only are you able to gather different mortgage quotes from lenders in the area, but it is highly recommended! Each lender may present you with a different mortgage rate, terms and conditions and locking in the first you receive could mean leaving money on the table. Gather quotes from a few lenders on the same day and compare each one before making your decision.

If you're preparing to buy a home in the Greater Wilmington area or Southeastern PA, do not hesitate to contact the Kat Geralis Home Team! We have helped numerous buyers with their real estate goals, walking them through the buying process and finding them the perfect property! We even offer FREE first-time homebuyer seminars!

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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When shopping for homes in Delaware and Pennsylvania, there are dozens of features to look over and factors to consider. For instance, how many bedrooms does the property have? What does the yard look like? How close is the home to your workplace? What are the school districts like? All of these questions, while important, can cause your mind to fog over and you to forget to inspect some of the following real estate red flags. 

Sure, the home inspection is in place to help you identify problems with a potential property in Wilmington, Newark, Chester County or Delaware County, but why wait until then to start looking? Below are five home problems you can spot before you move forward with the homebuying process.

Backwards insulation
As you tour a Greater Wilmington area home, take note of the insulation in the attic (if the property has one). Is the foil side of the insulation facing up below your feet? If so, it may have been ruined by moisture coming up. The foil side of insulation—or the vapor barrier—should be facing the main rooms of the home, not the attic. On the flip side, if the foil side is facing you on the ceiling, that is nothing to worry about.

Varying pipe styles
In the basement, you may notice pipes running in and out of the property. You can also find these elsewhere in the home, like under the sink or in the kitchen. If you happen to find multiple styles of piping, it doesn't always mean an issue is present, but likely the past owners replaced sections piece by piece. This is one area to ask your inspector about if varying styles are indeed present.

Slow drains
You've probably been advised to flush toilets and run all faucets when touring homes in Wilmington, Newark and beyond— and for good reason. Slow drainage can signal a larger issue with the plumbing of the home, either with clogged drains, poor installation or worse, a sewer line problem. 

Fewer vents
When outside, you should notice one vent pipe that lines up with the kitchen and one for each bathroom. Any fewer vents to the outdoors could mean an area isn't vented correctly and a larger expense down the road. You'll also want to make sure the vent does not end in the attic which can mean moisture build-up issues.

Bubbling walls or ceilings
Does it look like the paint is bubbling or the ceiling seems to sag in one spot? Beware! While it could simply mean the paint is old and chipping away, it could also point to water damage. On the ceiling, it may be from damaged roof tiles which could be a significant cost to a new homeowner. Consult your inspector if you identify these red flags.

Not sure if a home is the right one for you in Delaware or Pennsylvania? Give the Kat Geralis Home Team a call today! We can help you identify the best location, size and price for your next home in the area!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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For Delaware and Pennsylvania residents, buyers and sellers alike, it is no secret that the real estate market is ever-changing. As always, if you've found yourself wondering how the current real estate market is behaving in New Castle County, you can count on the Kat Geralis Home Team to keep you updated with the latest statistics!

For the third quarter of 2016, there were 2,544 homes for sale— an 9 percent decrease in inventory from this time last year and a trend that continues around the country. However, the median sales price remains unchanged and the number of home sales (+0.1%) has slightly increased from this time in 2015!

And while the median sales price has not changed much from last year in New Castle County, the average sales price for the second quarter is up 1.8 percent to $251,112. But home sellers need not worry too much about lower inventory once again as the percentage of the original price received does come in at 95% (+0.2%)— up slightly from 2015!

As you can see from the graphics above, inventory for the third quarter posted a 12.4% drop from September 2015 to a 4.8 months supply—but home sales are still succeeding! Buyers are still present in the New Castle County real estate market and with mortgage rates still at historic lows, now is still a great time to move on to your dream home! Just remember, these updated statistics are a brief snapshot of levels in the local real estate market, so do not hesitate to contact us with any further questions you have!

Our top-ranked team is here to help with all of your real estate goals this year, from finding your dream home in Greater Wilmington, Chester County or Delaware County PA to selling your current home and moving on!

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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It is not uncommon for first-time homebuyers, or even seasoned Delaware and Pennsylvania buyers, to become frustrated in their home search. Perhaps you're having a hard time finding exactly what you want in a property or are finding that you're missing out on properties that hit the market and are quickly sold. What is a buyer to do? Adjust your search!

The Kat Geralis Home Team has helped numerous buyers through their search and ultimately land upon their dream home in Wilmington, Newark, Chester County and Delaware County PA. Below are five ways in which you may need to adjust your home search if you start to find the process challenging.

Reconsider the neighborhood
If you've been looking in the same neighborhood for some time, but are not having luck finding the perfect home in your price range, it's unlikely that it will pop up in the near future. Or if it does, you may face serious competition among other buyers. It may be worth expanding your home search to other select neighborhoods to see if an ideal property is available. 

Reconsider doing work to the home
Many buyers today are looking for turn-key homes that require minimal work. However, it may be the case that your price range does not allow for a newly-renovated home. Be open to looking at homes that require a little TLC. You may find that a fresh coat of paint, new flooring or even new appliances can make a world of difference. 

Reconsider your timeline
With low mortgage rates, buyers may be feeling pressure to move up their home purchasing timeline. But don't be too quick to make a move on a home you aren't completely in love with or one that doesn't exactly meet your needs. If you don't feel like things are going well in your search, it may be worth saving for another year and then buying. 

Get creative with financing
Oftentimes it's the down payment that is holding Wilmington DE buyers back from their ideal home or target price point. Consider getting creative with the financing options available to you— perhaps down payment assistance, special loan services from your lender or even gifted funds from a family member. If you find the perfect home, but are just a small percentage of a down payment away, it is worth exploring.

Discuss compromise
Throughout the homebuying process, it is common for couples to disagree on what they want in a home. One person may want a large yard, while the other finds an updated kitchen a necessity. If you are unable to find a home that meets both of your requirements, you may want to have a conversation and discuss what you are willing to compromise on in order to find the best fit.

If you feel your home search is not leading you to your dream home in Delaware or Pennsylvania, do not hesitate to contact the Kat Geralis Home Team! We are here to help you find the best property for your wants and needs!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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Can you believe fall is just around the corner? September has just begun and before we know it, the leaves will fall and we'll be heading out to pick pumpkins, gather apples, enjoy a hay ride, build a scarecrow and other fall fun themed activities! But if you are looking for something on a larger scale, you don't need to venture much farther than Greater Wilmington DE and Southeastern PA!

The Kat Geralis Home Team has included a few fall events coming up in the area, so be sure to mark your calendars!

109th Arden Fair and Antique Market
September 3, 2016; 10 AM to 6 PM
Arden Gild Hall

Over 120 vendors with handmade arts and crafts, in addition to food vendors, a book fair, plant sale, activities and rides for the kids, dancing, live music and more! Admission is free to the fairgrounds and Shady Grove, however there is a small admission to the Antiques Market.

Odessa Brewfest
September 10, 2016
Historic Odessa Foundation

Sample the best regional and national craft beers, along with local wine, spirits, food, music and more— for a good cause! All proceeds will benefit the Historic Odessa Foundation to ensure the revitalization and preservation of the community for future generations. 

Red, White and Brew Run
September 9-11, 2016
Main Street, Phoenixville PA

Join in this 3-day festival with races in a variety of distances and courses, not to mention, great food and fun! There will be live music, running expos, the Main Street Mile race, 5K run and half marathon! Admission to the festival for non-runners is $10. 

Mushroom Festival
September 10-11, 2016
Kennett Square, PA

Celebrate Kennett Square's number one cash crop—and the Mushroom Capital of the World—with this thirty-year-old festival featuring over 200 vendors, culinary events, kids activities, exhibits and more!

​Harvest Moon Festival
September 10-11, 2016; 10 AM to 6 PM
Coatesville, PA

The Harvest Moon Festival in Chester County PA is a great time to explore a wide range of artists, creators, activities and even workshops! Dive head first into nature with this outdoor festival featuring local food, music and art!

Chaddsford Winery Harvest Fest
September 17-18, 2016; 11 AM to 7 PM Saturday and 11 AM to 6 PM Sunday
Chaddsford Winery

What better way to celebrate fall than with this festival with tastings, food, tours, live music and more? Free guided tours allow you to sample fresh pressed grapes, wine tastings are paired with hard cider donuts, and local food trucks are on site to satisfy your cravings!

Oktoberfest
September 24, 2016; 6 PM
Sacred Heart School, Oxford PA

This true Oktoberfest will include authentic German food, a German band and dancers, beer, games and even a Brewer's Contest for home brewers! 

Do not hesitate to contact the Kat Geralis Home Team with any questions about buying or selling a home this fall! We're here to help!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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The time is here yet again! Wilmington DE and Southeastern PA will soon celebrate Independence Day on July 4 and there are dozens of fun-filled events and fireworks planned for the community! The KG Home Team has included a sampling below so you can look forward to kicking off your long, holiday weekend the right way!

Town of Elsmere Independence Day Celebration, July 2, 2016; Fairgrounds Park in Wilmington DE, Dusk. Join the Town of Elsmere for their annual Fourth of July celebration! The free fireworks show begins at dusk.

Wilmington Blue Rocks vs. Winston-Salem Dash, July 2, 2016; Daniel S. Frawley Stadium in Wilmington DE, 7 PM. It doesn't get much more American than baseball, hot dogs, and patriotic music! This special game will also honor local heroes!

Freedom Fest, July 2, 2016; Nottingham County Park in Nottingham PA, 6 PM to 11 PM. Plan to enjoy an Independence Day weekend concert, food vendors, kids activities, as well as fireworks at dusk. Cost is $10 to attend.

Summer Spectacular at Longwood, Through September 5, 2016; Longwood Gardens in Kennett Square PA, 9 AM to 6 PM. Visit Longwood during all of its summer splendor, including aquatic plants from all over the world, cool shady groves, and miles of trails in the Meadow Garden.

4th of July Fireworks, July 4, 2016; University of Delaware Athletics in Newark DE, 6 PM to 10:30 PM. This free local Fourth of July event will include fun, games, fireworks and more!

Phoenixville Independence Day Fireworks, July 4, 2016; Friendship Field in Phoenixville PA, Dusk.

Tredyffrin Township Annual 4th of July Celebration, July 4, 2016; Wilson Farm Park in Chesterbrook PA, 7 PM. Music begins at 7 PM in Wilson Farm Park, continuing on through 9:15 PM, with fireworks at dusk. Free to attend.

Wilmington's 4th of July Celebration, July 4, 2016; Tubman-Garrett Riverfront Park in Wilmington DE, 2 PM. This free event lasts all afternoon long and celebrates our nation's independence along the Christina River! Enjoy live music, food, wine and craft beer, local vendors, activities for the kids, as well as a fireworks show at the end of the night!

Hockessin 4th of July Celebration, July 4, 2016; Old Lancaster Pike in Hockessin DE, 3 PM. This day-long celebration begins at 3 PM with a Fourth of July parade down Old Lancaster Pike, complete with floats, music and more. Also back this year is the 2nd Annual Great American Gut Buster Food Devouring Spectacle by 2 Fat Guys American Grill. The fireworks display begins at dusk and can be seen from all over Hockessin. 

30th Firecracker 5K Run/Walk, July 4, 2016; Rockford Park in Wilmington DE, 7:30 AM. Start your holiday off with a 5K Run/Walk beginning in Rockford Park and continuing to Greenville, before finishing back in Rockford Park. 

As always, do not hesitate to reach out to the KG Home Team with any questions about home buying or selling this year in the Greater Wilmington area and Southeastern Pennsylvania!

We hope you have a happy and safe Fourth of July!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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While we are all eagerly awaiting the start of summer in Greater Wilmington and Southeastern Pennsylvania, now is the time to finally consider moving up to your dream home. The current market conditions have created the perfect environment for DE and PA buyers to make a move, especially as they are not expected to last for the rest of the year.

If you've been thinking about buying a larger home this year, here are three reasons to consider moving up now instead of waiting:

Prices will continue to rise
You may have noticed around Wilmington, Newark, Chester County and Delaware County that home prices are on the rise— and they are not expected to slow down any time soon. According to a new report, home values are predicted to appreciate by 5.3 percent just one year from now. If you have a home to sell in Delaware or Pennsylvania, now is the time to list or you could risk pricing yourself out of your potential dream home.

Mortgage rates are at historic lows
To the benefit of DE and PA buyers, mortgage rates—now hovering below 4 percent—have not been this low in years. It is important to keep in mind that any rise in rates will have an impact on your future mortgage payment and therefore, it is better to act while they are still at historic lows. In fact, Fannie Mae, Freddie Mac, the National Association of Realtors and Mortgage Bankers Association are predicting a rate hike over the next year, so don't wait!

Inventory is low, but traffic is high
Housing inventory is much lower than it has been in the past, but that does not mean there is any shortage of buyers in Greater Wilmington and Southeastern Pennsylvania. Buyer demand is said to be at its highest peak in years, with the number of home sales in March (sold in under 30 days) higher than any month since last July. Listing your home now to move up to your dream home could allow you to sell quickly and settle into your new property before you know it.

The KG Home Team is consistently ranked one of the top Realtors in the state and we are here to put our experience to work for you! Contact us today to discuss selling your current home and available properties in Delaware and Pennsylvania.

We look forward to hearing from you!

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