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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With buyer demand soaring and inventory still trending lower, the ball is in the seller's court in the local Wilmington DE and Southeastern PA real estate market. But that doesn't mean you can simply place a "For Sale" sign in your yard and the offers will begin to pour in. There are several mistakes that can actually hold you back from selling your Delaware or Pennsylvania home and as your local experts, we've included them below!

If you plan to sell your Chester County or Delaware County PA home this summer, be sure to avoid the following:

1. Overpricing
In order to attract buyers and prompt them to write an offer, your home needs to be priced well from the beginning. Overpricing can cause buyers to pass over your property entirely, given their search parameters, or wonder why they seem to be getting less in your home than they would in another of a similar price. Always consult with your agent on your listing price before determining the best.

2. Using poor listing photos
Buyers today first begin their home search online and poor listing photos could turn them away before they even make it to the front door. Make sure you have professional photos used in your online listing— they should be crisp, bright, and showcase your home in its best possible condition.

3. Not de-cluttering
When buyers enter your Greater Wilmington home, they should be able to focus on the property itself, not the furniture or knick knacks on display. Take the time to de-clutter before you allow buyers inside, or even before you list, to ensure the best results.

4. Not being flexible
If you do have offers on your home, at least consider a counter offer before rejecting one entirely. Holding firm without being flexible could just cause your home to "sit" on the market longer than it needs to and force buyers to walk away.

The Kat Geralis Home Team has helped numerous sellers earn top dollar for their homes and we can help you do the same! Give us a call today to get started finding your home value and preparing your property for the market.

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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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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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
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Summer is almost over, but that doesn't mean your chances of selling your Wilmington or Pennsylvania home are also dwindling. This summer has created the perfect environment for home sellers to find success and even, top dollar! So if you've been thinking about selling and the idea of waiting for fall crossed your mind, the Kat Geralis Home Team has provided five reasons why you will want to make it happen now!

There is high demand
With lower inventory, the ball is in the seller's court in Delaware and Pennsylvania! Buyer demand remains high, with buyers ready, motivated and financially able to purchase a home this summer. Listing your home now will allow you to take advantage of the demand in the real estate market.

The process will move quickly
Home sales have been on the rise— in fact, Fannie Mae recently announced that they expect home sales to outpace 2007 levels by late summer! Selling your Greater Wilmington, Chester County or Delaware County PA home now will allow you to avoid longer closing times caused by banks bogged down with loan applications. 

You have less competition
As I mentioned above, the real estate market is experiencing lower inventory than there has been in past months and for home sellers, that means less competition! But this won't last for long— many homeowners have been unable to sell in past years due to negative equity and are now ready to make a move. Soon these homes will make their way to the market and the number of choices for buyers will increase. Don't wait for more inventory to arrive before you list!

Now is the time to move up
Do you need a larger home with more space? There will not be a better time to move up in Delaware or Pennsylvania! Both mortgage rates and home prices are increasing and simply waiting to buy the same home a year from now will cost you significantly more than if you made the move today. Just remember, CoreLogic expects prices to appreciate by 5.3 percent over the next year. 

You're ready to go
If your current home just isn't cutting it anymore in terms of space or features or location, it's time to take advantage of what the real estate market has for you! 

Give the Kat Geralis Home Team a call today for more information about homes for sale in Chester County, Delaware County PA or Greater Wilmington DE. We're here to help!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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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
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With the weather beginning to warm up and the official start of spring just a few weeks away, many homeowners in Wilmington and the Brandywine Valley are looking for ways to improve their property. But if you're one of those making a home to-do list this spring, it's important to consider the projects that will be worth your while in terms of boosting curb appeal and adding value.

Consider the following home projects that will pay off when it comes time to sell you home in the Greater Wilmington, DE area or surrounding counties in Pennsylvania.

Clean it up
Before you can start on improvement projects like adding new landscaping or painting the shutters, start by giving your home's exterior a good cleaning. Power wash away all of the grime, dirt and mildew that could have built up over the long winter. Wash the windows, inside and out, and don't forget to wash away any dust or dirt on the garage door. In some cases, simply washing your home can add thousands to the sale price.

Grab your paintbrush
Giving your home's exterior a fresh coat of paint might be just what you need to grab Greater Wilmington buyers' attention this spring. This is one of the easiest and most effective projects to complete—although it can be costly—as both the appraiser and buyer will see the value.

Groom the yard
Your home's lawn is a major focal point, especially in the spring. Take the weekend to clean up any branches and debris from around your home and groom any overgrown hedges, bushes, trees or plants that may give a Delaware or Pennsylvania buyer the wrong impression. 

Add new landscaping
Once your yard is cleaned up, you can start to plan for new flowers and other landscaping. Add fresh mulch around your trees, place a few pots filled with flowers by your front door and give your window boxes a fresh look. 

Replace fixtures
Do you have an old porch light that has a mind of its own? Now is the time to replace fixtures like outdoor lights, mailboxes and house numbers. These may be small touches, but they can have a big impact on giving your home an updated feel.

Questions about selling your home in Greater Wilmington? Wondering what your home might be worth in today's market? Give the KG Home Team a call today! We are here to help!

You can even download our FREE Home Seller e-Guide!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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As a new homeowner, the last thing you want to feel is unorganized after a major storm, natural disaster or property dilemma. 

Your home in Wilmington or Newark, Delaware is your happy place and taking a few preventive measures will help you keep it that way. This fall, take some time to research your homeowners insurance policy, make necessary repairs, and store valuables in a safe place. 

No matter which area of Wilmington or Newark you live in, these tips can help prepare your home and identify the best ways to disaster-proof the property. 

Do your weather research
If you just purchased a home for the first time or are unfamiliar with Wilmington, DE, it's important to accurately research what your insurance policy covers given the area. You can use resources like the Federal Emergency Management Agency's flood map to determine if your home is in a common flood area and if your insurance should be updated accordingly.

Create a safe home
Just as you would with a curb appeal project, start on the outside of your home.

• Store all outdoor furniture in the garage, basement or storage unit as well as any stray lawn tools or bicycles.
• Take the time to make sure your garage door is sturdy and functioning and if necessary, take on the small project of reinforcing the door. 
• For insurance purposes, take pictures of your home, including cars and boats, beginning on the outside and work your way indoors. Be sure to store these photos in a safety deposit box or away from the home.
• Review your homeowners insurance policy to determine if your Wilmington home is covered for all risks or a specific set of scenarios.
• Replace batteries in smoke detectors and carbon monoxide detectors.
• Set a meeting place for your family in case of emergency.
• Inspect your home's roof and replace loose tiles as necessary.
• Prepare an emergency kit with water, spare batteries, radio and first-aid and store in your family's dedicated meeting place.

For homeowners, taking precautions to ensure your Wilmington or Newark home's safety can make all the difference. The Kat Geralis Home Team is here to help with your journey, every step of the way, from home search to home sale— including providing tips for homeowner success after the closing!

By deciding to work with The KG Home Team, you'll be working with the #1 Keller Williams agent in Delaware as well as one of America's Best Real Estate Agents chosen by Real Trends in 2013. 

Agents are well educated and experienced with the entire sales process— just take a look at these 5 Reasons to Hire a Real Estate Professional.

Contact us today!

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