Kat Geralis Home Team Wilmington DE Real Estate News Archives

No matter where you live—Greater Wilmington, Chester County or Delaware County PA—summer is often a busy time to move to a new home. The weather is ideal, mortgage rates are still low, the kids are out of school and you can settle into your new property before the fall season starts. 

However, with moving also comes waves of excitement and nerves that can cause you to forget a few things along the way (more than just an extra box or two!). You can count on the Kat Geralis Home Team to make sure your moving process is as stress-free as possible— take the following five steps into consideration as you plan out your move to a new home in Wilmington or Newark DE or Southeastern PA this summer:

Clean the carpets
You never know what kind of dust, dirt or pet dander has accumulated in your new home's carpets over the years, so take the time to clean them thoroughly. You can rent a steam cleaner and do the work yourself or hire a professional and pay around $50 per room. It's worth it to know you're starting fresh in your new space!

Change locks and label keys
Can you imagine how many people have been given a key to your home over the years? Friends and neighbors are just a few! You will want to change the locks as quickly as you can once you've moved into your new home— either installing the new bolts yourself relatively inexpensively or hiring a locksmith who will charge you labor per lock. 

Clean out your cabinets
Depending on how long the previous homeowner lived in the house, you may find residue from cleaning products, food, and even evidence of critters. You will want to do this prior to putting any of your belongings in the cabinets as if there is an animal that has taken up residence in your home, you'll want to remedy the situation as soon as possible.

Find the main water shut-off
Should you ever go out of town for a long period of time or need to turn off the water due to a leak or repair of any kind, you'll need to know where your main water shut-off valve is. If your home inspector hasn't already pointed it out and labeled it for you, take the time to do so yourself and avoid the headache later.

Find the circuit breakers
During a power outage or in the case of replacing light fixtures or bulbs, you will need to flip the circuit breakers to specific rooms and outlets. Find your circuit breakers as soon as possible once you have the keys to your new home and make sure each breaker works properly. Have a partner stand in various areas of your home while you flip the labeled breakers to double check that is indeed the room they belong to— if not, re-label them for future reference.

There is a lot to remember when it comes to moving into a new home in Greater Wilmington, Chester County or Delaware County PA, but with the Kat Geralis Home Team on your side, you can rest easy! Give us a call today for more information on available homes in the area, selling your current property or purchasing a new home!

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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For those gearing up to buy a home in Greater Wilmington or Southeastern Pennsylvania, the down payment may be the one factor that's slowing down your momentum. However, the days of 20 percent down or no deal are gone! Homebuyers today can purchase a home with as little as 3 to 5 percent down— cutting down on the time it will take to save.

But if you're still worried about how you can possibly save enough to buy your dream home in Wilmington or Newark, Chester County or Delaware County PA, the KG Home Team has provided a few ideas! Consider the following four ways you can save for a down payment this year:

Cut out your daily coffee trip
Do you make a trip to the coffee shop every day before work? Or do you rely on a coffee pick-me-up in the afternoons? Simply cutting out this seemingly inexpensive habit can have a big impact on your down payment savings. With the average price of a latte around $3.50 and paying for coffee every work day, you are spending almost $1,000 a year!

Why not take the amount you would spend and open a down payment savings? At the end of the year, you could be well on your way to purchasing a home!

Cut out your gym membership
While you're saving for a home in Delaware or Pennsylvania, you might like to consider cutting out your expensive gym membership. There are always ways you can keep up on your fitness outside of the gym as you're preparing to become a homeowner! For example, with the average cost of a gym membership around $50 per month, you could save around $600 toward your next home!

Cut your cable package
One of the priciest monthly expenses you may have is your cable package. The average monthly cable bill can total $100, which means you could be spending close to $1,200 alone on TV! Think of what that amount could add to your down payment savings!

Cut your daily lunch expense
If every day around lunch time has you heading to a nearby restaurant or take-out spot with co-workers, you might want to think twice. Spending an average of $11 per day on lunch, 5 days per week, adds up to $2,860 per year! 

Adding each of these together, you could have a down payment quicker than you thought and be ready to purchase a home as early as next year or even the next few months! Do not hesitate to give the ​KG Home Team a call with any questions you have about buying a home in the Wilmington or Newark areas, Chester County or Delaware County PA!

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
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Homebuyers in today's real estate market may have fewer properties to choose from than they have in the past, but they do have two important choices— existing home or new construction. Existing, as you may have guessed, are lived-in homes while new construction offers the option to be the first owner, occupant and at times, choose your own fixtures and features.

New construction homes are growing increasingly more appealing to buyers in Greater Wilmington and Southeastern Pennsylvania, but many do not know the first place to start. As your local real estate expert in Wilmington and Newark DE, Chester County and Delaware County PA, I am sharing three things to keep in mind if you're considering a brand-new home this year:

1. New construction homes are not always listed
Finding homes for sale in Delaware and Pennsylvania can be done easily online, but know that new construction properties are not always listed in the MLS. If you are interested in a new home, it is best to work with your real estate agent to gather all possible options that may not be present via a home search.

2. Builders do not have an attachment to the properties
A home seller in an existing property often has lived there for many years and has dozens of memories tied to the place. As a result, you may find that the home price is too high or other questions or issues come up when working with the owner, simply because they are not ready to let it go or are having a hard time doing so. 

With new construction homes, there is no emotional attachment to the property. In fact, your financial situation and negotiations on behalf of your agent are all that the builder (or sales rep) will focus on when selling.

3. Discounts may be available
Your real estate agent will know how—and if— you can negotiate discounts when purchasing a new construction home in Wilmington or Newark DE, Chester County or Delaware County PA. For instance, discounts may be available to buyers that get into contract early on in the sales process or at the end, when upgrade packages can be worked into the deal. 

If you're interested in buying a new construction home this year, the KG Home Team is on your side! We will work on your behalf, with your best interests in mind— unlike buyers who work directly with a builder. Contact us today for more information on available properties and the current real estate market. 

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

When it comes to buying a home in Wilmington, Delaware and the surrounding communities, many do not know what is actually involved. From how much of a down payment you need to your credit score, numerous would-be buyers hold off as they do not think they will qualify. 

But that shouldn't stop you this year as the KG Home Team will walk you through everything you need, including the factors mentioned above, and these 5 documents that will be necessary to move forward with your Wilmington DE, Chester County or Delaware County PA home purchase:

Recent paychecks
When determining your ability to take on a mortgage, your Delaware or Pennsylvania lender will want to see proof of income. In most cases, your last two pay stubs will do the trick! In others, they may want as much as two years worth, so be prepared!

Proof of debts
Lenders will also want to know how much you have in debt, including credit cards, student loans and car loans. Leaving any debts out can cause your approval to be delayed or worse, rejected.

Bank statements
Homebuyers are typically required to provide bank statements to their lender as part of the standard procedure. Lenders will check that all income and financial transfers were completed legally.

Pre-approval letter
We have stated in the past that a pre-approval can speed things along, especially when competing with other buyers for your dream home in Wilmington or Newark. This document details how much home you can afford and proves your buying power.

Proof of insurance
After you've put an offer on a home in Greater Wilmington, you will need to provide proof of homeowner's insurance. Printed copies of the policies will do as your lender will need to keep these on file.

Do not let your previous ideas about what is required to purchase a home hold you back this year! The KG Home Team is here to answer any questions you have and walk you through the process as seamlessly as possible! We even offer a FREE Homebuyer E-Guide!

Give us a call today!

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

In past blog posts, I have shared Tell-Tale Signs It's Time to Sell Your Wilmington Home as well as 2 Ways to Sell Your Wilmington Home for Top Dollar. But the Groundhog made a very important prediction this past week and if we're truly in for an early spring in Delaware, homeowners will need a boost to list their properties before the season arrives!

We are less than six weeks away from the official beginning of spring and yet, the busy home buying season may be upon us sooner than we think! Many Wilmington area homeowners believe spring is one of the best times to sell, but these next few weeks also have their own set of advantages:

Less Competition
As I mentioned above, many homeowners think spring is the only time to sell a home successfully and as a result, there is a rush of new properties on the market when the new season rolls around. Listing your Greater Wilmington DE home now means you have less competition from the numerous sellers that will list their homes from March through June. What's more, there is a lack of inventory in the real estate market that has homebuyers desiring more to choose from. Placing your home on the market now could put you in the running for a quick sale if your property is what today's motivated buyers are looking for!

New Construction on the Rise
Getting closer to the spring season means more new construction of single-family homes in Delaware is beginning to increase. According to a new study by Harris Poll, 41 percent of buyers would prefer to buy a new home, while just 21 percent would buy an existing home. Listing your home now could mean less competition among new construction properties as well!

Strong Buyer Demand
Buyers no longer hibernate during the winter months and as a home seller, you shouldn't either! Foot traffic shows buyers are still out looking for homes now and in addition, browsing properties online, on mobile apps and in email listing alerts.

Moving Up Will Cost You Later
If you're planning to move to a larger home in the Greater Wilmington area soon, you might like to do so sooner rather than later. Prices are expected to rise by 5.4 percent over the next year and waiting to purchase a new home could end up costing you more in both your down payment and potential mortgage payment. It is also not guaranteed that mortgage rates will remain this low for the remainder of the year— listing your home now is a wise way to get things moving.

The KG Home Team has been voted a 5 Star Real Estate Agent year after year and consistently ranks in the Top 1% of REALTORS in the State of Delaware. Let us be your guide as you consider moving to a new home this year!

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

2016 is already being heralded as a breakout year for homebuyers in New Castle County. Whether or not it's your first time buying a home, current real estate market conditions—like low mortgage rates and increasingly high rents—are contributing to this year being an optimal time to make that move and become a homeowner in the Wilmington area. 

It's also shaping up to be an excellent year for current homeowners! In fact, the lower number of homes currently for sale will give new Wilmington DE home sellers the chance to give their property more attention in a market with high demand. 

Of course, market conditions will vary by location, but according to the latest real estate market statistics, here's what we have been seeing in New Castle County:

December saw an increase in both the median sales price, coming in at $215,000 and a 7.5% change over December 2014, and average sales price, coming in at $234,000 and a change of 1.3% from the previous year. The number of closed sales also rose to 441, up 5.3% from the year prior. 

However, as mentioned above, buyers in the market will be met with fewer choices as inventory trends lower. There were 2,142 active single-family homes for sale in December in New Castle County, a volume nearly 5 percent lower than the year prior. 

If you're wondering about the first steps to take toward buying a home or would simply like more information about available properties in the Wilmington or Newark area, do not hesitate to reach out to us! The KG Home Team has been voted a 5 Star Real Estate Agent year after year and we are here to help make the process as easy as possible!

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 new year is here and it's time to kick those winter blues that may be starting to drift in after the busy holiday season! But lucky for you, the Greater Wilmington area has many fun events and activities to take advantage of this month that will keep them out of sight.

The KG Home Team is happy to share just a few of the many ways you can get out and explore Wilmington and Newark DE in January— Be sure to add the following to your calendar:

Riverfront Ice Skating
When: Through February 28, 2016
Times: Monday through Thursday 4 PM to 9 PM, Friday 4 PM to 10 PM, Saturday 11 AM to 10 PM and Sunday 11 AM to 9 PM
Where: Riverfront Wilmington, Wilmington DE

Don't let the colder temperatures keep you inside when you can enjoy the beautiful Wilmington Riverfront during the winter months! The Horizon Riverfront Rink is sponsored by local businesses and through the end of February, offers a fun activity the whole family can enjoy! The rink can be found in the Justison Landing Green at 308 Justison Landing. Skate rental is $3 per pair and admission is $5 for children 12 and under, $8 for ages 13 and up.

​Band of the Royal Marines
When: January 13, 2016; 8 PM
Where: Grand Opera House, Wilmington DE

The Royal Marines Band, wearing their iconic white helmets, presents some of the most memorable drills, music and visual performances you will ever see. The band will perform classics, Big Band, contemporary pieces and even solo numbers in this January event (their first US tour ever!) at the Grand Opera House. You won't want to miss this as the Royal Marines Band is one of the most versatile and skilled ensembles in military music!

2016 Wilmington Coin Show
When: January 14 through 16, 2016; 10 AM to 6 PM
Where: Nur Shrine Temple, New Castle DE

There is free admission to the 2016 Wilmington Coin Show where over 50 dealers will display US, world, ancient, currency, tokens, medals and more!

Downtown Newark Restaurant Week
When: January 18 through 24, 2016
Where: Downtown Newark, Newark DE

A great opportunity to explore not only Newark, but the local restaurant scene! Participating locations will offer two and three course prix menus for both lunch and dinner, ranging in price from $10 two-course lunches to $28 three-course dinners.

Delaware Symphony Orchestra Chamber Series
When: January 26, 2016; 8 PM
Where: Hotel DuPont, Wilmington DE

Enjoy a night surrounded by the sounds of Beethoven, Mozart and Schoenberg as performed by the Delaware Symphony Orchestra conducted by David Amado.

We hope you are enjoying your start to 2016 and as always, feel free to reach out with any questions about the Wilmington area real estate market, buying a home or selling your current property!

We can help you make this your best year yet by settling into a fresh, new space. We even offer FREE First Time Homebuyer Seminars!

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

According to the latest Housing Opportunities and Market Experience (HOME) survey from the National Association of REALTORS, 94 percent of renters aged 34 and younger want to own a home in the future. Not only does this take into account their beliefs on whether or not now is a good time to buy or sell and their expectations of the mortgage market, but also their beliefs on homeownership as part of the American Dream.

The survey also found that indeed 77 percent of renters believe homeownership is part of their American Dream, 83 percent of overall renters (not just young renters) want to own a home in the near future and 84 percent of renters believe owning a home is a good financial decision.

So what does that mean for you if you are among the majority of Wilmington Delaware renters who are dreaming of owning a home in the coming year? We've rounded up a few tips below to help you prepare to become a homeowner:

Start saving your down payment
We have shared in a past blog post various ways to begin saving for a down payment, from setting up an automatic withdrawal from your account each month to cutting back on large purchases to downsizing your current apartment to save the difference for your future home. Either way—and no matter how much you intend to put down—you need to start putting money away for this purpose.

The survey found that one of the top reasons young renters do not currently own was the inability to afford it. With the rising costs of rent, it may be easier for you to save for your future home by downsizing in the meantime! 

Clean up your credit score
Errors on credit reports can take months to correct, but bad credit can take even longer. Start grooming your credit well in advance of applying for a mortgage and you will be that much closer to a speedy approval! Wilmington area buyers can begin by ensuring all payments are made on time and in full, paying down any large debt and keeping credit card purchases to a minimum.

Remember, you do not need the best score to purchase a home, but the higher you can get it, the better the interest rate you will be able to secure.

Make a budget
To better prepare yourself for buying a home, it is wise to start researching home prices in your desired area of Wilmington. Do you know what neighborhood you'd like to live in? How about your wants and needs in a home? Once you have these in mind, you can enter your monthly income and costs into a mortgage calculator to see if your dream home is within reach. If not, you can adjust your budget, but it is always helpful to have a price range in mind as you begin the homebuying journey!

Buying a home in Wilmington, DE is a big step, especially if it's your first time! But don't worry— the KG Home Team has consistently been ranked a Top Real Estate Team in Delaware and we are here to help you with every decision along the way! 

We even offer FREE First-time Homebuyer Seminars and a FREE Home Buyer E-Guide!

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

We all know schedules can get a bit hectic during the holiday season and before you know it, your guests have arrived at the door! There is no better time than now to get your Wilmington DE area home in order for hosting holiday gatherings this year, no matter how many you plan to have in attendance. The best way to avoid any last minute headaches? Take it one room at a time and the earlier you can begin, the better! 

Consider these following five tasks your go-to list for holiday home prep and enjoy the season without any homeowner hassles!

Clean out the closets
Give your guests more room to hang their coats and store their belongings by purging your closets. In doing so, you can also make space for any gifts you receive or need to store before your holiday events. Start with coat closets and move on to your bedrooms as the former can be the easiest to clean out.

Touch up walls and doors
Throughout the year, your Wilmington home can acquire smudges, spots and paint chips. Now is the time to touch them up, even before you deck the halls with holiday decor! Small sponge blocks can quickly remove smudges from walls, bathroom tile, flooring and even appliances. The last thing you want in your holiday photos are scuffs in the background!

Clean your appliances
During the holidays, the focus shifts from living spaces to the kitchen and dining room. You'll likely be cooking up a storm if you're hosting guests—or at least eating at your table—so spend some time addressing dirty appliances and dusty dining rooms. It is fine to scrub the inside of your oven and stovetop prior to cooking your holiday meal, but do not self-clean until afterward! One of the main causes of oven breakdowns during the holidays is that self-cleaning button.

Clean your chimney
Gathering around the fireplace is a holiday favorite, so make sure yours has been cleaned this year! A local chimney sweep will remove soot and creosote— residue that can cause fires. While you're on this task, also spring for changing your furnace filter if you haven't yet. Experts recommend cleaning your furnace every four to six weeks to ensure optimal energy efficiency.

Winterize your entryway
As you welcome guests into your home, their boots and shoes will need somewhere to gather! If you store shoes in the entryway, add mats for your guests to wipe their feet when they come inside. Mats will also keep your floors cleaner longer as the snow and dirt can collect here rather than on your wood or carpet.

The Kat Geralis Home Team wishes you a happy holiday season and as always, feel free to reach out to us with any questions you have about buying or selling a home in the Greater Wilmington area!

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