Kat Geralis Home Team Wilmington DE Real Estate News Archives

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 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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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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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
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Now that spring has arrived, many homeowners and potential homebuyers are wondering if now is the right time to make a move. The KG Home Team is always happy to provide information about the local real estate market, including these updated market statistics for New Castle County Delaware!

For the first quarter of 2016, there were 2,362 homes for sale— a 4.4 percent decrease in inventory from this time last year. And while New Castle County is indeed experiencing the low inventory that can be found throughout much of the country right now, both the sales prices of homes in the area and the number of closed sales are up from 2015! 

The average sales price for the first quarter of 2016 was $230,441—up 2.5 percent from last year—and the number of closed sales totaled 1,230— up 9 percent from last year! Home sellers in New Castle County DE were also reported to have received 93.5 percent of the original price at closing, which is an increase of .4 percent from 2015!

As you can see from the infographics above, buyer demand is high despite the lack of inventory in the local market; the first quarter is showing inventory at a 4.5 months supply, 15.9 percent lower than last year's inventory during the same time.

It is a great time to be a home seller in Greater Wilmington and Southeastern PA, with sales prices and closed sales increasing, in addition to a great time for buyers with mortgage rates still at historic lows! Remember, these updated statistics provide a brief snapshot of levels in the local real estate market, so do not hesitate to contact the KG Home Team with any questions about homes for sale in the area!

Our top-notch agents are here to help with any of your needs this year, from finding your dream home in Delaware or Pennsylvania to selling your current property! 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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The official beginning of spring is now just a week away and the weather is gradually getting warmer in Greater Wilmington and the surrounding Brandywine Valley. This is the time of year many Chester County and Delaware County PA area residents begin to think spring and head outside to both enjoy the weather and what the local communities have to offer.

Lucky for us, the Greater Wilmington area has dozens of spring-centered events planned for the coming weeks and as your local real estate experts, we're happy to share a few of them with you!

Spring Wine Festival
March 19-20, 2016; 12 PM to 6 PM
Chaddsford Winery
Chadds Ford, PA

Complimentary treats, live music, food trucks, wine and garden demonstrations are ready to be enjoyed at this festival celebrating the start of spring!

Orchid Extravaganza at Longwood
Through March 27, 2016; 9 AM to 5 PM
Longwood Gardens
Kennett Square, PA

With over 5,000 orchids in various arrangements and forms, the Orchid Extravaganza at Longwood Gardens is a uniquely spring event! You can find the popular orchid meadow, large orchid baskets, an oncidium waterfall display and this month, the rare sky-blue poppies in bloom!

Newark Annual Egg Hunt
March 19, 2016; 10 AM
White Clay Creek State Park
Newark DE

Newark's annual egg hunt begins at 10 AM this Saturday! The Walking- 2 years old category and 3 and 4 years old category both at 10 AM, 5 and 6 years old category and 7 to 9 years old category at 10:30 AM. Admission is $4 for Delaware vehicles, $8 for out of state.

Easter Bunny Express
March 19-26, 2016; 11 AM to 4 PM
Greenbank Station
Wilmington DE

Come aboard the train for a 1 1/2 hour round-trip ride to Ashland with the Easter Bunny! Trains depart at 12:30 and 2:30 and all kids get a special treat and picture with the Easter Bunny.

Chester County Antiques Show
April 1-3, 2016
The Phelps School
Malvern, PA

The Chester County Antiques Show is now in its 34th year, benefiting the Chester County Historical Society. The show attracts numerous visitors and vendors alike every year to view and display the show's furniture and antique items. This year's theme is Tomfoolery!

If you have questions about moving to Delaware or Southeastern Pennsylvania this year, do not hesitate to give the KG Home Team a call! Our team has been named a 5 Star Real Estate Agent over and over again and we are here to put our expertise to work for you!

Happy spring!

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
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

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