Kat Geralis Home Team Wilmington DE Real Estate News Archives

In past blog posts, we've talked about 4 Real Estate Red Flags Your DE or PA Home Inspection Might Miss and even How to Negotiate Repairs After Your Inspection, but now it's time to go over one more important topic— questions to ask!

When the home inspection is complete and you've gone over the often lengthy report, you will likely have many questions for your inspector that will have your head spinning! As your local real estate experts in Delaware and Pennsylvania, we've rounded up a few important questions to help calm your nerves:

What does "this" mean?
If you attend your home inspection, which is always wise, you will be able to ask the inspector questions in the moment if you don't understand something in his report. For instance, if he lists a defect in the roof that you aren't clear on, you can ask him how serious it is and what exactly needs to be fixed. Never be afraid to ask the inspector if you aren't clear on an item in the report— you should be fully aware of what you're buying!

Is this a major problem?
Buyers, don't be too alarmed by the length of the report! Many of the items included will be minor and not too much to worry about. But be sure to ask your inspector if any major problems came up during inspection, so you are certain of what needs to be done.

Do I need to call for a follow-up?
Your inspector isn't an expert on everything— in some cases, he may suggest you call an electrician or plumber to take a closer look. If he flags something in the report along these lines, ask him if you need to call another expert for a follow-up. This way you can stay on top of repairs or problems!

What needs to be done when I move in?
If you don't plan to ask the seller to make specific repairs, that becomes your job as the homeowner upon move-in. Ask the inspector which minor items you will need to take care of when you move in, so you're not left wondering why something isn't functioning properly when you have the keys!

Have more questions to ask a real estate expert about the buying process? Give us a call today!

We even offer FREE First-Time Homebuyer Seminars!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
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While you may have seen dozens of real estate reality TV shows that make it look as simple as touring three homes and then choosing the best one, there is so much more to house hunting in Delaware and Pennsylvania. In fact, there are a few rules of thumb to follow in order to avoid any buyer's remorse or financial obstacles down the road.

As your local real estate experts in Delaware and Pennsylvania, the Kat Geralis Home Team has put together four mistakes to avoid when house hunting this year to make your experience as smooth as possible:

Don't Skip the Pre-Approval
Working with a lender on your mortgage pre-approval should be your first step in your DE or PA home purchase process. In the event that you find a home you want to pursue, a seller will likely not entertain any offers without a pre-approval. This step shows the seller you are serious about buying and can give you an edge over other buyers who may not have a pre-approval completed.

Don't House Hunt on Your Own
There are many perks to working with a real estate agent, so don't make the costly mistake of going it alone this year! Remember that your agent has done this before and knows the in's and out's of crafting the perfect offer and corresponding with all necessary parties in a transaction. Navigating a home purchase alone can be a full-time job in itself— why not leave it to the pros?

Don't Wait Too Long to Act
If you see a home in DE or PA that you love, don't wait! Buyer demand has been strong over the past few months and it hasn't slowed down yet! You won't want to let your dream home slip through your fingers because you waited a week to get in for a showing. Work with your agent to make sure you are timely in viewing the property and writing your offer if you've found "the one!"

Don't Get Distracted by Home Features
When you tour a home, it can be easy to get distracted by updates like new appliances, light fixtures, and even trendy items like sliding barn doors. But don't get too carried away! It is important to envision how you and your family will live in the space— does it have enough bedrooms? Are there enough bathrooms? Does the layout suit your needs? Is there enough outdoor space? Home features like lighting and hardware are simply decorative, while major structural components like layout and square footage will affect your daily life and are what you will need to focus in on.

Ready to buy a home in Delaware or Pennsylvania but don't know how to get started? Contact our team of local experts today! We will walk you through every step in the process!

We even offer FREE First-Time Homebuyer Seminars!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
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When you arrive to tour a home in Delaware or Pennsylvania, it can be easy to get distracted by home features like light fixtures, paint color, number of bedrooms, and the outdoor space— especially if you're a first-time homebuyer! These are indeed important aspects of a property to take notice of, but you will also need to keep your eyes out for minor—or major—flaws that could be hidden with simple home staging.

In some cases, Delaware or Pennsylvania home sellers will try to cover up issues with home staging and as your local real estate experts, we are here to help you uncover them!

Listing Phrases
Before you even arrive at home in Delaware or Pennsylvania, you can get an idea of what might be waiting for you simply by the phrases used in the listing description. Words like "cozy" and "quaint" are often euphemisms for small homes. Listings can also state that they are ready for your touch or a "fixer upper," which typically means the property needs work.

Painted Floors
Paint can cover up many problems in a home— so don't always assume it is for decorative purposes when house hunting! If you happen to pull up a corner of carpeting in a DE or PA home and notice paint covering sections or all of the floor, it may be to cover up pet damage or water spots. 

Rugs
Typically used to warm up a home or add a touch of color to a room, rugs and runners can also be used to cover warped floor boards and water damage. Walk over the rugs several times and take note of how the floor feels— does it creak, crack, or feel unstable? If so, it could be worth taking a close look into before buying the home.

Furniture Placement
If the placement of furniture in a home feels off, it could be because the homeowner is hiding something underneath the furniture or around it. For instance, are there frames hung in an odd formation or spot? They could be covering water spots or cracks. Is there a large couch in the center of the room? It could be covering imperfections in the floor or pet damage.

Ready to get started on your Delaware or Pennsylvania home search? Give the ​Kat Geralis Home Team a call today!

We even offer FREE First-Time Home Buyer Seminars!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

Regardless of how many times you have been through the process of buying a Delaware or Pennsylvania home, it is easy to get distracted by such features as updated bathrooms, spacious backyards, and even items like light fixtures and appliance colors. There is so much more that should go into your decision to purchase a specific property in DE or PA— including real estate red flags that even your home inspection could miss!

As your real estate experts in Delaware and Pennsylvania, we have rounded up four red flags to keep an eye on while shopping for homes so you can anticipate costs and ultimately weigh your options:

Leaks
Depending on the age of your potential new home, any leaks could have dried up with the water being turned off and not arise until it is fully functioning again. The best place to spot leaks is under cabinets where you could notice water damage or moisture around drain traps. Remember, if the leak is not present on the day of your inspection, the inspector will likely not be able to point it out!

Structural Damage
This is a major red flag for any homebuyer in Delaware and Pennsylvania and while your inspector will know what a roof and foundation should look like, they will not be able to tell you how bad a problem is or how much it will cost. They will likely refer you to a structural engineer who will be able to break down cost to repair and when indeed you need to remedy the problem.

Electrical Issues
This is another red flag that could be more prevalent depending on the age of your home. Your inspector may point out disconnects in the electrical or wires that need updating to comply with current codes, however they will not always be able to list the exact source of the disconnect. You will need to bring in an electrician to identify specific costs and dig a little deeper to find the root of the problem listed in the inspection report.

HVAC Problems
Any problems with your HVAC system can be quite costly, but keep in mind that your system may be functioning properly while temperatures are moderate but could fail once they begin to take drastic turns— for instance, in the deep winter or heat of summer. The only way to identify potential problems is to hire an HVAC specialist who can assess how much longer your HVAC system has left or if parts look in need of repair or replacing.

Contact the Kat Geralis Home Team today for a list of available homes in your area or for more information on the home buying process!

We even offer FREE First-Time Home Buyer Seminars!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

Once you've found your dream home in Chester County or Delaware County PA, Wilmington or Newark DE, it can be hard to erase the picture from your mind. You start to envision yourself living in the space, how your furniture will fit, and what paint colors you will choose. But in today's real estate market, you may find yourself competing with cash buyers who can snag the home quicker and easier than those with financing. 

You will need an edge to land the property over those cash buyers and below are a few ways for you to do just that:

Be straightforward about your finances
Sellers often accept cash deals as every aspect of the transaction is laid out on the table for them to see. As a buyer with financing, it is essential that you do the same if you are to compete with cash buyers. Be straightforward with your finances— provide a pre-approval letter, allow your lender to provide financial details with your offer so the seller can feel confident in accepting it. Documents like bank statements and credit reports can allow the seller to see exactly what you have to back up your offer and feel it is just as sound as a cash offer.

Speed up the loan process
Ask your lender how quickly they can turn around the loan as many cash deals close quickly without having to go through this step. In some scenarios, loans can be turned around in as little as 14 days. Even better, if you can speed up the appraisal contingency and get the appraiser to the property fast, sellers may be more willing to accept your offer.

Speed up the inspection
Sellers in Wilmington DE and Southeastern PA want to close the deal as efficiently as possible and for top dollar. To this effect, if you can also get your inspector to the property within days after your accepted offer, they can feel more confident that there will be no hiccups in the process.

Offer more
In some cases, if you don't want to risk losing the home to a cash buyer, you can offer more than what you think the home is worth. Cash buyers will oftentimes offer a lesser amount because of the lack of hurdles sellers will have to jump, so if you can top the cash offer, you may put yourself in a better position to win the property! Depending on how much more you offer, the increase likely won't change your mortgage payment much over the life of the loan. 

Be personal
You have probably heard stories of buyers writing sellers letters in an attempt to make their offer stand out. If the home you're bidding on is indeed your dream home, what could it hurt? Be personal with the sellers and make yourself known, you never know if your letter detailing what you love about the property or details about your family could put the ball in your court.

As your local real estate experts in Greater Wilmington and Southeastern PA, you can count on the Kat Geralis Home Team to help you secure your dream home, whether you're using financing to buy or cash. Give us a call today!

We look forward to hearing from you!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
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You've heard the term before, but what do you really know about FSBO homes in Delaware and Pennsylvania? FSBO, or For Sale by Owner, homes, mean the owners have not enlisted the help of a real estate agent to help them sell the property. And while that sounds as though it will not affect you as the buyer, there are a few things you will need to note before you decide to purchase a FSBO.

You can use an agent to buy a FSBO
Just because the home seller declined the use of a real estate agent doesn't mean you have to! There are many perks to working with an agent when buying a home, perhaps the biggest one being they handle the negotiations for you!

You can still negotiate
As I mentioned above, you can still negotiate your offer— even when it's a For Sale by Owner home! While the seller may have chosen to work without an agent for the commission aspect of the deal, that doesn't always mean they are rigid on the price. Remember that your agent has been here before and will know how to find the best deal!

They might be willing to cover costs
Homeowners in Delaware or Pennsylvania that choose to go the FSBO route may still cover the costs of your agent, regardless of their reasoning behind ditching their own. Many are willing to cooperate with buyers and their agents to ensure a smooth transaction.

You may need a lawyer
Every state is different, but some require that both parties be represented by an attorney, even if you have a buyer's agent on your side. Some do not require that attorney to be present at the closing, so if you are serious about your FSBO purchase, simply consult your real estate agent! 

You should still get pre-approved
It never hurts for a homebuyer to get pre-approved in a real estate transaction— even if it's a FSBO deal! Oftentimes these sellers are inexperienced and will make quick decisions when offers comes in, so it is always wise to already have your pre-approval edge to help yours stand out! 

The most important takeaway is that FSBO homes are not sold the same way standard, agent-listed properties are and the process of purchasing one will differ for Chester County and Delaware County buyers. If you find yourself interested in a FSBO property, do not hesitate to contact your real estate agent! 

Unsure how to navigate the local real estate market in Delaware or Pennsylvania? Give the Kat Geralis Home Team a call today! We even offer FREE First-Time Buyer Seminars!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

If you've been dreaming about a fresh start in Delaware or Pennsylvania and have started browsing homes for sale in Greater Wilmington, Newark, Chester County or Delaware County PA, you'll be glad to know you are on the right track! 2018 is shaping up to be a great year to purchase a home in our area for a variety of reasons, from rate hikes to inventory levels, and I've listed a few of them for you below!

Rates are rising
In order to avoid paying more down the road for a home in Delaware or Pennsylvania, you will want to make your purchase in the beginning of the new year ahead. Interest rates are expected to continue rising (no more 3% rates!) over the next 11 months, at least two to four more times. In fact, buyers can expect 5 percent interest rates by the end of the year. 

Prices are rising
Just as I mentioned above, you could end up spending more for the same property if you wait to buy later in the year as home prices are also expected to increase. And while these have been rising rapidly over the past few months, 2018 will begin to moderate that pace. Home prices will indeed continue to rise, but not quite as quickly as they have been. However, that doesn't mean you should delay! Purchasing a home in 2018 is a wise move and will allow you to save as you watch numbers tick upward.

Inventory is rising
This is a good sign for the local real estate market as inventory levels have been on the low side for the last year. More homes will return to the market, with the majority of the recovery being in the middle to upper price ranges, which means you will have much more to choose from as you begin your home search in Delaware and Southeastern Pennsylvania.

Start the new year in a new home in Wilmington, Newark, Chester County or Delaware County PA— the Kat Geralis Home Team is here to help! Give us a call today for a list of available properties in the area or for more information about buying a home. We even offer FREE first-time homebuyer seminars!

Looking forward to hearing from you in the new year!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

By now, you've likely watched a reality TV show about buying a fixer upper home and thought to yourself, "that looks pretty easy." It is indeed exciting to mull over the prospect of making a home feel fresh and new again, but what the real reality will reveal is that fixer upper homes require much more time and money than their television slots allow.

Below are four questions to ask before you decide to purchase a fixer upper home in Wilmington DE or Southeastern PA:

What are the costs?
It can be a thrill to think about what a home in need of repair could be, but it is essential to consider all costs when buying a fixer upper in Wilmington, Newark or the surrounding areas. The last thing you want is to be surprised by mounting bills when the deal is done. In addition to the purchase price, look into costs like monthly maintenance, taxes, insurance, and how much equity you may have in the home once all of the work is completed. It never hurts to consider resale right off the bat!

Is everything sound?
You will want to have an inspector come in and check if the structural elements, as well as running systems are in working order or if they need replaced. The inspector will be able to tell you what needs replaced immediately and what can stand to wait. Remember, it never hurts to ask the age of systems like electrical and how much longer they have left. If you need a recommendation for an inspector in the area, your real estate agent is a wealth of resources! 

What is the scope of work?
One of your next steps when buying a fixer upper in Wilmington DE and Southeastern PA will be getting bids from contractors. Reality TV shows can make it seem simple to tear down walls, but there is so much more involved than what is actually shown. Gather bids from several contractors before choosing one and be sure to check references. While cost-effectiveness is important, trustworthiness will always play a major part.

Are there tax incentives?
Certain renovation projects come with tax incentives, depending on the work and the area in which the home is located. After all, you will be boosting the value of the property! Check which incentives may be available to you once you've completed all work.

Do not hesitate to give the  Kat Geralis Home Team a call today for more information about buying a home in Chester County or Delaware County or for a list of available homes in the area!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

When shopping for a home in Greater Wilmington and Southeastern Pennsylvania, you likely have a long list of must-haves to check off of your list. Examining everything from the number of bedrooms to the yard size becomes a priority and it is easy to overlook other important features like the resale value or even your commute time. 

As your local real estate experts in Wilmington DE and Newark DE, the Kat Geralis Home Team has included five things you will not want to overlook as you prepare to buy a home this year:

Resale value
Even though you're looking at homes for right now, it's important to look ahead for the purposes of resale value. If there is a feature of the house that doesn't bother you, but may bother another homeowner, you will want to decide if you're willing to fix it (and the costs) or if it will potentially affect your resale. 

Neighborhood at night
You may love the neighborhood a certain property in Greater Wilmington DE is in, but what about what the area looks like in the morning or at night? What is the noise like once everyone is home from work and school? Is there more traffic noise at a specific time you will need to consider? If you're interested in a home, visit at all hours of the day to get a good idea of what you'd be buying into.

Commute time
Buying a home in a new location of Chester County or Delaware County PA means the distance to your workplace may be longer. Before you jump into the mortgage application process and commit to a new property, factor in how long it will take you to get to work each day.

Bedrooms to bathrooms
The number of bedrooms in a new home in Delaware or Southeastern Pennsylvania is likely one of the first things you check for, but you'll also want to look into the number of bathrooms. Many bedrooms and one single bathroom could be problematic for families— or if you host guests often, you may want a powder bath available to keep your own bathroom private.

Room to grow
As I mentioned above with resale value, homebuyers should always be thinking one step ahead. Consider how much space a potential home has for your growing family or if you may need more storage in the future. The last thing you want to overlook is a lack of space and find you have to move sooner than you had hoped.

Give the Kat Geralis Home Team a call today for more information about homes for sale in Greater Wilmington Delaware or Southeastern Pennsylvania!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

The busy spring real estate season is just around the corner in Greater Wilmington and Southeastern Pennsylvania and soon a wave of potential buyers will take to searching for their perfect property. Not only do the increased temperatures play a role in getting buyers out and about to tour homes for sale, but lower inventory this season is giving sellers the edge they need to earn top dollar. 

But that doesn't always mean your Delaware or Pennsylvania home is ready for buyers to step inside and prepare their offers. You may need to do a bit of prep work before you're officially in the game! Below are four ways to get ahead of the spring real estate market this year and make your home stand out from the rest in Chester County and Delaware County PA as well as the Newark and Wilmington DE areas.

Make repairs
One way your Greater Wilmington area home can rise to the top of buyer wish lists this spring is by being up to date on repairs. You may wish to get a home inspection prior to listing which will help you identify any problems, but if you know now that faucet needs fixing, now is the time to do so!

Boost curb appeal
How does your home stack up to others for sale from the outside? Landscaping can do wonders in the eyes of buyers, even if it's just planting flowers around your entryway or sprucing up garden beds with fresh mulch. Any hedges or shrubs that may have grown unruly over the winter should be tended to as well.

Kick the clutter
Once you've wowed buyers from the outside, you will want to do the same inside. Walk around your home, careful to observe any interruptions in the flow from room to room. Do you have to sidestep furniture? Remove it or relocate it! Do you have excess knick knacks that take away from showing the true beauty of the property? Put them away while your home is listed.

Brush up on your finances
Do you know how you will respond to offers? Do you have realistic expectations in terms of how much you want to sell your Delaware or Pennsylvania home for? Before you are ready to dive into the market head first, you will want to have a plan in place so you don't experience seller's remorse later.

You can count on the Kat Geralis Home Team to guide you through the spring market this year! Whether you're ready to list now or have questions to clear up first, we're here to help you every step of the way.

Give us a call today!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook