Kat Geralis Home Team Wilmington DE Real Estate News Archives

When you decide to sell your home in Delaware or Southeastern Pennsylvania, you begin to dream about how much profit you can make and moving to your next location. However, there is one figure you'll need to determine before you can make those dreams a reality— your home value.

It is not uncommon for homeowners to over-estimate how much their property might be worth, so as your local real estate experts, the Kat Geralis Home Team has put together a few tips that can help you determine just that.

Comparable properties
One of the first places to look to help find your home value is a list of comparable properties in the area. Look at homes that have a similar square footage to yours or those with the same types of features. Even if you think your home is better than the one down the street, you'll need to consider if it has a larger footprint, updates that yours doesn't have, or more bathrooms as these can add significant value. 

Home improvements
Have you made any recent improvements to your Chester County or Delaware County home? They could make a big impact on your home value— or not add as much as you thought. Know that there are some updates that don't add as much value as others at resale so it is always wise to consider ROI (return on investment) prior to completing projects. If you are unsure if a certain update will boost your value, you are welcome to consult your real estate agent!

Location
There is a reason "location, location, location" is a real estate mantra. Factors in your area like the schools, proximity to entertainment, parks, commute times, neighbors, and of course, a sense of community can all either help or hinder your home value. 

Age of the home
Your home's condition and the age of the property can also influence how much it may be worth. Oftentimes, homes deemed "historic" and newer properties tend to be worth more than others. The aforementioned factors do play a big role in finding your home's worth, but typically as homes age, their value lessens.

There are many ways for you to determine the value of your Greater Wilmington or Southeastern Pennsylvania home and it is helpful to have an idea of what you might be working with prior to listing the property. Remember, it's best to put on your home seller hat and set aside your emotional ties to the property to find a realistic price.

Curious about your Delaware or Southeastern Pennsylvania home value? Contact the Kat Geralis Home Team today to find out!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Wilmington Real Estate
Wilmington Homes for Sale
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As you may have heard by now, the real estate market has much less inventory than it has in past years. We even shared in our last market stats post that inventory for Q2 of 2017 was standing around a 3.9 months supply— a 21 percent decrease from the previous year. But does that mean you should shy away from listing your Wilmington DE or Southeastern PA home this fall? No! 

The real estate market could use your home and if you've been thinking about selling, below are the top tips for a successful sale during this time of year:

Clean up the yard
This time of year, the leaves have started to change and fall and may be cluttering up your yard. Take the time to rake all of the debris currently in your yard to make a nice impression on potential buyers who may drive by or arrive for a showing.

Ramp up curb appeal
Curb appeal helps to create cozy, welcoming feelings in Wilmington DE or Newark DE buyers, so start with your front door! Add seasonal mums on either side and consider adding a subtle fall wreath to welcome buyers inside.

Warm up the house
When the weather begins to turn cold, you'll want to make sure that your Delaware or Pennsylvania home is warm for buyers. Turn up the heat to allow for a comfortable temperature inside and consider painting your living room walls a neutral, warm color to appeal to buyers.

Clean the fireplace
If your Southeastern PA home has a fireplace, this time of year is the perfect window to show it off! Gas fireplaces can be lit when buyers arrive, but if your wood-burning fireplace hasn't been cleaned, now is your opportunity to call the professionals and have it ready for the colder months ahead.

Turn on the lights
Buyers today are looking for natural light in properties, but if your home lacks a wealth of windows, you can still create that illusion by turning on all of the lights. Especially as it begins to get darker earlier, make sure all of the lights are on for buyers so the home feels warmer, more open, and of course, friendlier. 

Do not hesitate to contact the Kat Geralis Home Team with any questions about selling your home this fall or which steps you should take to list your home. We're here to help!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Wilmington Real Estate
Wilmington Homes for Sale
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September is here and it's time to start getting your home ready for the fall season ahead. Say goodbye to summer by putting away garden tools, patio furniture and cleaning the gutters to make way for the falling leaves. 

As your local real estate experts in Wilmington DE and Southeastern PA, the Kat Geralis Home Team has listed five home improvement tasks to complete around your home this month:

Clean up siding
During the summer months, the siding on your home can easily become mildewed and damaged. Check for cracks in the siding that may need repaired and take the time to pressure wash away any dirt and grime that may have accumulated over the last few months. You will want to have any issues fixed before the cold arrives!

Check windows and doors
The seals around windows and doors become increasingly important during the fall and winter as they can let warm air escape and cold air enter. Check these seals in your Wilmington DE area home and if you spot a place where air can escape, you can apply a new bead of caulk or weatherstripping depending on its location.

Clean the chimney
If you have a fireplace in your Southeastern PA home, now is the time to have it swept for use in the fall and winter. The build up of soot can make you more prone to a chimney fire, so it's best to let the pros tackle this job.

Have HVAC inspected
When you go to reach for the thermostat this fall, you will want to know everything is in working order. Call your local technician to have your HVAC system inspected now and take care to change out your furnace filter. There is often a long waiting list to have systems inspected when the weather turns cold, so avoid this obstacle and cross it off your list now!

Clean and store yard equipment
It's time to put away the gardening tools, patio furniture, garden hose, and the like. While you may use them a few more times in the coming weeks, you can at least clean them now to ensure they will not rust or become damaged once in storage. Clear a space in the garage or shed to store all of your yard equipment and outdoor furniture and once you've decided to call it for the season, you'll know exactly where they go!

Ready to make a move this fall? Contact the Kat Geralis Home Team today for more information about selling your home and finding your next dream property in Greater Wilmington, Chester County and Delaware County PA!

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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Now that we’re in the midst of summer, the real estate market has seen a rapid increase in buyer demand! Buyers are out in droves in Greater Delaware and Southeastern Pennsylvania, ready to find their dream homes, however they are also being met with limited inventory. How do you know what the market is like in your area? You can always count on the Kat Geralis Home Team to keep you updated with how the current real estate market in Wilmington, Newark, Chester County, Delaware County, New Castle County and beyond is behaving. Just take a look at the following statistics!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Wilmington Real Estate
Wilmington Homes for Sale
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If there are two spaces that can help sell your Greater Wilmington home, it is the kitchen and the bathroom. Buyers today are looking for homes that require little updating and if your home fits the bill, you could already be well on your way to home sale success! But how can you be sure your property has what buyers are looking for?

Let's start with the bathroom! Below are four bathroom trends that could risk turning off Delaware and Pennsylvania homebuyers this year:

The all white bathroom
This may have been the trend in past years, but buyers today are shying away from the all white space. White tile, white floors and white paint in the bathroom can be tricky to keep clean, especially with moisture in the room. But you don't need to completely renovate your bathroom to get around this— you can easily paint and bring in color with towels or even swapping out hardware and light fixtures.

Wacky color schemes
While buyers are looking for color in their bathroom, it's essential to not get too carried away. Outlandish color schemes like mustard yellow, bright pink or even purple can be too much. Introduce subtle colors, sticking to soft hues as much as possible.

Medicine cabinets
This bathroom feature does provide more storage, but it can take up valuable space, especially in small rooms. If you have a medicine cabinet in your Chester County or Delaware County PA home, you might consider replacing it with open shelving or with a simple mirror instead.

Oversized tub
This may make your bathroom feel smaller and buyers will notice. In fact, the desire for bathtubs has been on the decline in recent years, with more buyers preferring a spacious shower. You do not need to remove your tub, but if you're thinking of replacing this feature, be realistic about its size. 

You can count on the Kat Geralis Home Team to walk you through the home sale process, from finding your property value to preparing for showings to negotiating the best offer. Give us a call today for more information! 

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Wilmington Real Estate
Wilmington Homes for Sale
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Excitement runs high when you have an accepted offer on your Delaware or Southeastern Pennsylvania home, but what comes next could bring you down if not properly prepared for— the home inspection. The inspection could make or break your deal and is a contingency often written into most offers, meaning the buyer could walk away if the results are less than ideal.

Below are just a few of the items that inspectors will be looking for during their time at your Greater Wilmington area property:

1. Structure: Integrity of your foundation, state of windows, doors and frames
2. Grounds: Faulty grading, dilapidated pathways and walks, trees, and any standing water
3. Roof: Defects in shingles, flashing, fascia, gutters, chimney and skylights
4. Interiors: Water damage, insulation, heating vents
5. Kitchen: Venting, sink leaks
6. Bathroom: Toilets flush, showers spray, sinks work

If you're worried about the home inspection, there are also several ways you can prepare to reassure both yourself and DE and PA buyers!

Clean and clean again
Inspectors will appreciate a clean home in Chester County and Delaware County, so take care of every nook and cranny! Make sure all areas that the inspector needs to access are free of obstacles like toys, furniture and decor— including electrical panels and doors to the basement and attic.

Unlock all doors 
You will want the inspector to have complete access to your home, so be sure all gates, doors and even windows are unlocked to let them test with ease. Or if your real estate agent will be accompanying the inspector, you can simply unlock those that do not have a lockbox.

Keep a maintenance log
If you've done any work to your Delaware or Pennsylvania home, keep an orderly log of them in addition to receipts and contracts from any outside laborers. You will want to be able to back up any repairs that have been completed for buyer peace of mind.

Spring is an exciting time for homeowners in Greater Wilmington and Southeastern Pennsylvania! Give the Kat Geralis Home Team a call for more information about how you can take advantage of the current market! 

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Wilmington Real Estate
Wilmington Homes for Sale
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If you made home improvements to your Delaware or Pennsylvania home in 2016, you are likely eligible for certain tax deductions that can save you immensely on your return. But how do you know what you are able to deduct from your renovation? The Kat Geralis Home Team has included below those tax-deductible home improvements that you are able to claim:

Energy Efficient Upgrades
This credit is geared toward major system upgrades in your Greater Wilmington or Newark home. In order to claim, you need to have purchased a new AC system, furnace, water heater, skylight, windows, home insulation or energy-efficient roof for your home in 2016. Also, keep in mind there is a lifetime cap of $500 on this credit, so if you've already hit the limit, you cannot claim any more.

Energy Generating Upgrades
As a homeowner, you are able to claim up to 30 percent of the costs of solar panels, solar water heaters, fuel cells, wind turbines and geothermal heat pumps for a tax credit. This credit is good through 2019 and does not have a cap like its energy efficiency counterpart mentioned above.

Upgrades That Add Value
Most renovations made in your Southeastern Pennsylvania or Delaware home are eligible for a tax credit. For instance, if you built an addition, renovated a bathroom or kitchen, replaced your roof, added a deck or replaced any windows or doors, you can deduct those costs, so save your receipts! Remember, the upgrades need to add value to your home, so repairs don't count!

Interest from Home Improvement Loans
Just as you can deduct the interest of your mortgage payments, you can deduct the interest from a home improvement loan or HELOC if the money is used to renovate your home. Any home improvements are eligible for the credit and you can deduct up to $100,000 in interest.

Renovating is a great way to boost value in time to sell your Chester County or Delaware County home this year. Give the Kat Geralis Home Team a call today for more information about selling your home, your home value or available properties in the Greater Wilmington area.

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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It's a new year and for Delaware and Pennsylvania residents, both buyers and sellers, that means reevaluating their real estate goals and deciding when to jump on the opportunities currently available. But how can you be sure now is the best time? You can always count on the Kat Geralis Home Team to keep you updated with how the current real estate market is behaving in New Castle County. Take a look at the following statistics!

For the fourth quarter of 2016, there were 2,064 homes for sale— a 12.2 percent decrease in inventory from this time last year and a trend that we're seeing in many places around the country. The median sales price did post an increase of 4.4 percent to 224,883, however, and the number of home sales rose nearly 10 percent to 1,630 which proves that buyers are still out pushing up demand!

As you can see from the charts above, the average sales price in New Castle County for the fourth quarter rose 4.3 percent to $250,630 and also a plus for local home sellers, the percentage of the original price received comes in at 94.4 percent— a number that remains unchanged from this time last year. 

Inventory for the third quarter posted a 15.6% drop from the year prior, totaling a 3.8 months supply— but just remember, that did not stop buyers! The number of home sales still saw gains in 2016's fourth quarter! Given these statistics, you may notice that now is an excellent time to be a home seller in the New Castle County real estate market and with mortgage rates still at historic lows, you could sell your property successfully and move on for the perfect price!

While these updated statistics are informative, keep in mind that they are but a brief snapshot of levels in the local real estate market, so do not hesitate to contact us with any further questions you have!

The top-ranked Kat Geralis Home Team is here to help with all of your real estate goals this year, from selling your home in Greater Wilmington, Chester County or Delaware County PA to finding the next best property and moving on!

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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It may be difficult to begin thinking spring when the weather is still on the colder side here in Wilmington DE and Southeastern PA, but inside your home, there are a number of projects you can take on! It's never too early to tackle spring cleaning and if you're planning to sell your home in the Chester County or Delaware County PA area this year, buyers will certainly notice and appreciate your efforts!

Below are the most effective spring cleaning projects you can cross off of your list now in your Delaware and Pennsylvania home:

Clean the windows
Winter brings longer, darker days, but you would be amazed at how much of a difference a simple window washing can do for the light in your home. Clean every window inside and out—if possible—and while you're at it, take down the drapes and blinds and give them a thorough washing too.

Clean the carpets
Over the winter months, dirt, snow, grime and slush can take a toll on your flooring— especially carpet! Just imagine everything winter boots can track inside! Now is a great time to shampoo your carpets with a professional machine to eliminate all stains and spots and if you're trying to remove pet odors, sprinkle baking soda on the carpet, wait thirty minutes and then vacuum it up.

Clean tile grout
You may have grout in your bathroom and kitchen that has gone quite some time without being cleaned. Grab an old toothbrush, baking soda and spray bottle filled with white vinegar and set out to refresh these spaces! Simply rub the baking soda into the grout and then spray with the vinegar. Let it sit for a few minutes before wiping away with a damp sponge or scrubbing with the toothbrush.

Declutter every room
There's no need to head outside to do any spring cleaning— in fact, decluttering every room will make one of the biggest impacts on local buyers! Remove any lingering holiday decor or excessive knick knacks, say goodbye to old magazines and mail, and relocate shoes and outerwear that may be taking up space in your entryway. What's more, you will want to remove any large furniture that is blocking focal points like picture windows or a cozy fireplace.

Ready for a fresh start in a new home in 2017? Do not hesitate to give the Kat Geralis Home Team a call today! We can walk you through the selling process as well as provide helpful tips for making sure your home is buyer ready!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Wilmington Real Estate
Wilmington Homes for Sale
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The idea of cutting your monthly mortgage payment down by refinancing your loan may sound intriguing to you as a Delaware or Southeastern Pennsylvania homeowner, but there is much more to consider before diving in. In fact, there are cases in which refinancing does not truly pay off for the homeowner. But don't worry! As your local real estate experts, you can count on the Kat Geralis Home Team to help you make the best decision for your situation. 

Below are four factors to consider before making the decision to refinance your mortgage: 

Refinancing is not free
Just as you likely paid some closing costs when you purchased your home in Wilmington, Newark and the surrounding areas, you will be required to again with refinancing. Closing costs are typically 2 to 5 percent of your loan amount and will need to be paid up front when you refinance. While your lender may offer a no closing costs refinance, be aware that it may come packaged with a higher interest rate. It's always wise to consider all of your options!

The savings should pay off quickly
When deciding if a refinance is right for you and your Delaware or Pennsylvania home, you need to look at the savings. Refinancing makes the most sense when your interest rate is more than 100 points above the current interest rates. The savings from your refinance should also recoup itself in under two years. For example, if your refinance cost you $2,800 and you end up saving $179 per month, the savings would be recouped in 15 months. It pays to crunch the numbers! 

You may be able to cancel PMI
As we've talked about in the past, private mortgage insurance (PMI) is required for buyers that put down less than 20 percent on their new home. However, if you've gained enough equity in your home over the past years, a refinance may mean you're able to cancel your PMI. Just remember the loan balance needs to be 80 percent or less of your home's value. 

Refinancing resets your loan
Perhaps one of the most important factors to consider is that a refinance is essentially hitting the reset button on your home loan. If you've had your loan for many years and have reached the point where you're paying down the principal instead of interest, refinancing may not be the best idea as you will likely reverse this dynamic.

Questions about selling your home in Greater Wilmington, Newark, Chester County or Delaware County PA? Do not hesitate to give the Kat Geralis Home Team a call today!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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