Kat Geralis Home Team Wilmington DE Real Estate News Archives

As a buyer in Delaware or Southeastern Pennsylvania, it is essential to consider all costs association with your new home. Everything from maintenance to renovation, repairs and closing costs should be factored in to ensure that you do not have any surprises or worries down the road. But if you're purchasing a new construction home in the Greater Wilmington area, it's also important to be aware of the costs you'll have after the closing.

Below are four costs you will have after the purchase of your new construction home in Greater Wilmington, Chester County or Delaware County PA: 

Utilities
Yes, all homeowners will have utilities to factor into their budget, but if you're moving up to a larger home, you will need to research how much more yours will cost. If you're relocating to Delaware or Pennsylvania, you may also have a deposit or set-up fee for installing new services like cable or bringing in new equipment that may have already been in place in an existing home.

Window Coverings
Remember that when you purchase a new construction home, you are the first owner! There are no window coverings to work into your offer. You will want to take measurements of the windows and note how many when adding up your costs. Plus, it's key to start early as lead time for receiving new window coverings could take longer than expected, leaving you with no privacy upon move-in!

Appliances
With some builders, you will be able to work an appliance package into the overall purchase price of the property. However, that is not always the case! After you've inquired with the builder about what is and is not included in the price, it's time to sit down and decide all of the appliances you will need and how much they will run you. You will want these in place on your move-in date!

Landscaping
You've probably been dreaming about the interior of your new Delaware or Southeastern PA home and as a result, the exterior has not even crossed your mind. Landscaping outside of your new construction home may look pristine, but is the backyard on the same level? Make sure you know if the landscaping will be finished by the builder or if that is an additional cost for you. What's more, if you will live in a homeowners' association, note if there is a timeline to have landscaping completed. 

Does a new construction home feel like the best fit for you this year? Give the Kat Geralis Home Team  a call today for more information about available properties or how you can get started on your home buying journey!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Wilmington Real Estate
Wilmington Homes for Sale
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In a previous blog post, we discussed how important the home inspection can be to the process of buying a home in Delaware and Pennsylvania. Now it's time to move on to the next step on your journey to becoming a homeowner— negotiating repairs! What many buyers don't understand is that negotiating can be done long before you even get to the closing table to sign the contract and it's important that you consider the following ways to come away with the best possible deal.

Below are three ways you can negotiate repairs after the home inspection in Greater Wilmington and Southeastern Pennsylvania:

Ask for a credit for work needed
If you put yourself in the seller's shoes for a moment, you will quickly recognize that they are ready to move on and likely do not want to do any repair work on their home prior to leaving. You can ask for a credit when you close to complete the necessary projects yourself. After all, you will probably give much more attention to the work as the new owner than someone exiting the property would.

Think ahead
Regardless if you plan to renovate the kitchen after you move-in, the repairs the space may need are still up for negotiation! For instance, the floor tile may need replacing, but if you have an overhaul on the books, you don't really mind. No matter— you can always ask the seller for a credit to fix any problems in the home as they will help to offset your total closing costs.

Don't go overboard
Keep in mind that the home inspection could come back perfect and in that case, there is nothing to negotiate. If you insist on negotiating repairs anyway, in an attempt to make back what you didn't get in the initial price negotiations, you could risk turning off the seller and them moving on to the next buyer. Listen to your real estate agent about places you can negotiate, but don't go so far where you risk canceling the deal.

The homebuying process can seem overwhelming, but remember that your Kat Geralis Home Team agent is here to negotiate on your behalf and work for you! Give us a call today with any questions you may have about buying a home this year.

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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Spring has sprung and as you read this, dozens of Greater Wilmington and Southeastern Pennsylvania residents are contemplating buying a new home. In fact, spring is the time of year when the real estate market begins to really heat up and buyers descend upon local homes for sale! However, if you're a first-time buyer this year or are feeling overwhelmed by the process, don't worry! It may be best to break it down into simple steps, so you too can take advantage of this exciting time.

You can count on the Kat Geralis Home Team to clarify any questions you have about buying a home in Delaware or Pennsylvania and simplify the path to homeownership. Below are five steps to get you started as a homebuyer: 

1. Find an agent
Your first step on the path to homeownership should be finding an expert you can both trust and feel comfortable with. This is one of the biggest financial decisions you will make in your life, so don't be too quick to choose just anyone.

2. Find a lender
One of the initial steps to buying a home is getting pre-approved for a mortgage and ultimately, applying for the loan. If you do not already have a lender in mind, your real estate agent is a wealth of resources! Ask them for a recommendation in order to find out how much home you can afford.

3. Groom your credit score
Start as early as you can on your buyer preparations as your credit score may need some time to clean up. Avoid taking out any additional lines of credit, be careful not to make late payments, and if possible, pay down your high interests debts first.

4. Make a wish list
Knowing what you need in a new home is key! However, be sure you can distinguish this from what you want. You may need to make compromises in your home search according to your budget, so know what you are willing to let go and what you absolutely have to have to fit your lifestyle.

5. Search for properties
Once you've met with a lender and have been pre-approved, you will know how much you can afford in a new home. Stay within those parameters to avoid falling in love with a home out of your budget, but now you can begin to search for your dream home!

Don't know where to start, but want to buy a home in Greater Wilmington or Southeastern Pennsylvania? Give the Kat Geralis Home Team a call today! We've helped numerous buyers become homeowners and we are happy to help you do the same.

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
Visit My Website
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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
Visit My Website
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This time of year is quite popular for Delaware and Pennsylvania residents to make a move! If you've been wondering what the current real estate market is behaving like in New Castle County, you can count on the Kat Geralis Home Team to keep you updated with the latest statistics!

For the second quarter of 2016, there were 2,476 homes for sale— an 11 percent decrease in inventory from this time last year and a trend we're seeing around the country. However, both the median sales price (+0.5%) and the number of home sales (+5.4%) have increased from this time in 2015!

But while the median sales price has increased in New Castle County, the average sales price for the second quarter is down 1.2 percent to $242,066. But home sellers need not worry too much about lower inventory as the percentage of the original price received does come in at 95.2%— the same for this time last year!

As you can see from the graphics above, inventory is indeed trending lower—with the second quarter posting a drop from 2015 to a 4.6 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
Visit My Website
Contact Me
Find me on Facebook

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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Can you believe Memorial Day is here? For many in Greater Wilmington and Southeastern Pennsylvania, that means the unofficial beginning of summer, gatherings with friends and family, a long weekend of barbecues and beach time! 

But no matter the time of year, Greater Wilmington and Southeastern PA always have a jam-packed calendar of fun events for both residents and visitors alike and as your local real estate experts, we are sharing a few with you below!

Wilmington and Western Railroad 50th Anniversary Weekend. May 28-30, 2016; Wilmington DE. This Memorial Day weekend, the Wilmington and Western Railroad will celebrate its 50th anniversary with double-headed train rides, locomotive dedication, and member's reunion, to name a few!

Riverwalk Mini Golf. Wilmington Riverwalk, Wilmington DE. This 18-hole miniature golf course is now open along Wilmington's Riverfront!

Memorial Day Music Festival. May 28-30, 2016; Chaddsford Winery, Chadds Ford PA. A three-day weekend full of wine, food, music and fun! There will be back-to-back bands and a selection of favorite food trucks on site!

Hagley Honors Our Vets. May 30, 2016; 10 AM to 4 PM; Hagley Museum, Wilmington DE. The Hagley Museum will be offering free admission to all military veterans as well as active military and their families all Memorial Day long.

Wilmington Memorial Day Parade. May 30, 2016; From Red Oak Rd to Franklin St on Delaware Ave; Wilmington DE. The City of Wilmington gathers for a parade to honor and observes our veterans.

Oxford Memorial Day Parade. May 30, 2016; 10 AM. South Street to Cemetery, Oxford PA. 

Kennett Square Memorial Day Parade. May 30, 2016; 9 AM. Downtown Kennett Square PA. This year's annual parade in the Borough of Kennett Square will feature bands, military, local businesses and re-enactors!

Spring Blooms at Longwood Gardens. Through June 3, 2016; Kennett Square PA. Take in the beautiful spring landscape before summer arrives at Longwood Gardens! Here you will find flowering trees, daffodils, over 200,000 tulips— all in bright, spring colors!

Wishing you a safe and happy Memorial Day weekend! And as always, if you have any questions about buying or selling a home in Delaware or Pennsylvania this year, do not hesitate to contact the KG Home Team!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
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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