Kat Geralis Home Team Wilmington DE Real Estate News Archives

What many homeowners may not realize is that the late fall and winter can bring more success in selling your home than any other season! In fact, you may find that you sell your Wilmington area home for more money during these seasons. 

But how? What are the secrets to selling your Delaware home for top dollar? Aside from partnering with the right real estate agent, it's all in the details. The KG Home Team is happy to share a few tips for making the most of your home sale this year— and as always feel free to reach out to us with any questions!

Price It Slightly Low
Many homeowners think that the key to leaving room for negotiations is pricing their home over market value. However, what this actually does is lessen the demand for your home. Pricing should be done in order to maximize demand for your Wilmington DE home. This way, you may actually have multiple buyers bidding on your home instead of just one trying to negotiate the price.

Buyers today tend to be well-informed and pricing your home either at or just below market value will have them sensing a deal. They are more likely to bid on a Delaware home that is priced slightly on the lower side, especially given low inventory in many local real estate markets.

Work with a Real Estate Professional
When selling your home, you may get the idea that doing it yourself and forgoing a real estate agent will save you money. However, the exact opposite is true! Homes typically sell for more money when sold by a real estate agent than by sellers trying to avoid paying a commission. 

For instance, the Economists' Outlook Blog reported that the median selling price for all For Sale By Owner (FSBO) homes last year was $210,000. However, those homes sold with the help of a real estate agent had a median selling price of $249,000— just about $40,000 more than those that went the FSBO route!

We are here to help you achieve home sale success, so before you put selling your home on the back burner—waiting until spring or summer to list—remember these expert tips for scoring top dollar! Pricing your home just below market value can drive up demand and it always pays to work with a real estate agent. 

Overwhelmed in looking for an agent in the Greater Wilmington area? Just look what our clients are saying about us!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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The holiday season is upon us! In just two short weeks, Wilmington area residents will be opening their homes for Thanksgiving, roasting their turkeys and maybe even stringing up twinkle lights in anticipation of the holidays to come!

But before we get too far into November, the KG Home Team would like to share a few festivities happening around Greater Wilmington that you can plan to attend with the whole family. This is a beautiful time of year in Delaware, so why not get out and enjoy it?

Nemours Mansion and Gardens Holiday Tours
When: Every Sunday, Tuesday, Wednesday, Thursday, Friday and Saturday — November 7 through December 31, 2015 
Where: Nemours Mansion and Gardens, Wilmington DE

The estate will be all decorated for Christmas this November through end of December! Take in all of the beautiful Christmas trees, original toys, ornaments and more!

Photographing Winter's Wonder
When: November 15, 2015, 2 PM to 4 PM
Where: DuPont Environmental Education Center, Wilmington DE

A whole new world opens up after the fall season and this workshop will teach you how to photograph winter's details! You'll be allowed to explore the marsh with your camera and warm up with hot drinks afterward. 

Turkey Trot 10K/5K
When: November 21, 2015, 8 AM
Where: Handloff Park, Newark DE

What a fun way to kick off the Thanksgiving holiday! This 5K and 10K race will be held at Handloff Park on Barksdale Road in Newark on November 21. Admission is $20 before the race and $25 the day of. Awards will be given for the top 3 male and female runners in various age groups.

Holiday Art Market
When: Every Tuesday, Wednesday, Thursday, Friday, Saturday and Sunday — November 24, 2015 through January 2, 2016, Open 11-3 Tuesday-Sunday and 11-6 Thursday.
Where: Newark Arts Alliance, Newark DE

A great place to shop for holiday gifts from local artisans! All sales will benefit the artists and the Newark Arts Alliance.

Yuletide Jazz and Wine Series
When: November 25, 2015, 6:30 PM to 8:30 PM
Where: Winterthur Museum, Wilmington DE

Tickets to this holiday-themed event are $20 and include live jazz and entry to the galleries. The jazz trio will play a series of holiday classics from Vince Guaraldi, the composer of the Peanuts soundtracks.

37th Annual PNC Bank Thanksgiving Day Run/Walk
When: November 26, 2015, 8 AM
Where: PNC Bank, Wilmington DE

Work off your pumpkin pie in advance at this run/walk that has become a tradition for many Wilmington area families! 

Jaycees Christmas Parade
When: November 28, 2015, 9 AM
Where: Downtown Wilmington

This city-sponsored Christmas parade will include marching bands, floats, and the arrival of Santa! 

We hope you enjoy the beginning of the holiday season in Wilmington and Newark and do not hesitate to reach out to us with any questions about the area, buying or selling a home!

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Homeownership offers a chance to build wealth and stability this year and with the rising costs of renting, you will not want to pass this opportunity by! In fact, a new survey found that the majority of rents will continue to rise by an average of 8%. So give yourself the chance to start building equity in a home you love before you sign on that new lease! You won't regret it!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
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If you have been holding off on selling your Wilmington Delaware home due to your equity position, you may want to think again. According to the latest 2015 2nd Quarter Equity Report from CoreLogic, 91 percent of all mortgaged properties in the country are now in a positive equity position. 

The negative equity situation that plagued many homeowners over the past years is gone. Rapidly rising home prices are the main reason for this improvement, which also reflects the increase in income and cash flow into households.

And while this is excellent news for the financial wellbeing of Wilmington DE homeowners, many do not realize that their equity stance has changed. For example, a Fannie Mae study found that 23 percent of Americans still believe their home is in a position of negative equity, when in fact, only 9 percent of homes remain in a negative position.

In the same study, only 37 percent of Americans were found to realize their "significant equity" position, even though 69 percent of homes fall into that category.

What does that mean for Wilmington and Newark area homeowners? The findings all point to the fact that nearly half of all homeowners are not aware of their equity situation. And with many holding significant equity, these homeowners could easily move on to a home that better meets their needs, whether that be a larger or smaller home.

These homeowners also have a wealth of opportunities available to them:

• They are able to make a larger down payment with their home equity
• They improve their chances of qualifying for a mortgage
• Ample opportunities for selling their current home and buying different homes

So if you've been dreaming of selling your home in the Greater Wilmington area this year, do not hesitate to contact the Kat Geralis Home Team! Recognized as the #4 Ranked Agent in Delaware by REAL Trends "America's Best Agents" List in The Wall Street Journal, our team can help you sell your current home and find a property that better meets your needs!

We look forward to hearing from you!

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Did you know 2 out of 3 people looking for a real estate professional research them extensively prior to working with them? And one of the first places they look is Facebook! Facebook is a great place to learn more about the real estate market and also check up on the agent you are considering to help buy or sell your home. 

Pay close attention to these things on an agent's Facebook page when researching and you will avoid feelings of choosing the wrong one down the road.

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

Buying a home now offers many opportunities to Wilmington area homebuyers, especially given that mortgage rates still reside at historically low levels! And while the real estate market continues to evolve in New Castle County, here's what has been happening over the past quarter.

The third quarter saw an increase in median sales prices, rising to $247,408— up over 3 percent from last year. The number of closed sales on Wilmington DE area homes also continues to rise—a total of 1,770 homes closed in this quarter—up nearly 19 percent from this time one year ago.

And while these factors all point to a returning, healthier real estate market, buyers in the Greater Wilmington area will still be met with low inventory as they conduct their home search. The number of homes for sale saw a decline of around 9 percent, to 2,602 homes. Inventory also remains around a 5 months supply, down 22 percent from this time last year.

There are still numerous benefits to be rewarded from buying a home during this time of year, so do not hesitate to contact the Kat Geralis Home Team! As a top-ranked team in Wilmington, DE, we can answer any questions you have about the real estate market, buying or selling a 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
Visit My Website
Contact Me
Find me on Facebook

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As you contemplate whether now is a good time to buy a home, consider this— Where will home prices be next year? Waiting to buy can end up costing you much more than if you took advantage of real estate market conditions at the present time. Home prices are projected to continue rising through 2016, up nearly two percentage points from current prices in Delaware.

Did you know Millennials (the age group of those born between 1980 and 1995) love working with real estate agents? According to the National Association of Realtors 2015 Home Buyer and Seller Generational Trends Report, Millennials are the largest homebuying generation in the U.S. and work with real estate agents more so than any other generation.

For instance, the Home Buyer and Seller Report found the following interesting statistics surrounding Millennials' real estate behaviors:

• 90 percent use a real estate agent to buy a home
• 70 percent would use their agent again, compared to 63 percent of home sellers
• 94 percent used websites to search for their homes
• 51 percent of buyers found their home online
• 75 percent of buyers used a real estate agent to walk them through the process

And despite the vast number of Millennials using an agent to buy or sell a home, they have the lowest percentage when it comes to using an agent again or recommending them to others (63 percent of home sellers).

Why is that? As stated by real estate news platform Inman, Millennials are harder to please than any other generation. They grew up with smartphones and the internet, thus they are different than any other real estate consumer.

Millennials are looking for the following in a real estate agent:

• Texting, but also phone calls
  More than any other generation, Millennials appreciate when their real estate agent communicates via text message. However, 75 percent of them also appreciate phone calls.
• Homes online
  Millennials appreciate browsing homes online more so than any other generation. The majority (58 percent) use iPhones, while 32 percent use Androids.
• Website information
  Millennials are more likely to use website information in their home search as well as throughout the buying and selling process. They want real estate agents who provide this readily and easily!
• Honesty and trustworthiness
  More than a quarter of this group of homebuyers look for agents who are both honest and trustworthy.

We understand how overwhelming choosing a real estate agent can be and The Kat Geralis Home Team is proud to provide all of the above to homebuyers and sellers in the Greater Wilmington DE area! If you are searching for a highly-rated real estate agent to walk you through the process this year, do not hesitate to reach out to us! 

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Millennials are also now putting less down on their future homes! In fact, 64 percent of Millennials put down less than 20 percent, with 36 percent putting down less than 5! Don't let the down payment factor hold you back from purchasing a home this year— homeownership is well within your reach.

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

Inventory is sitting lower than it has been in past months and mortgage rates are trending on the lower end as well— so what are you waiting for? Now is prime time for Wilmington, Newark DE home sellers to make a move and list while motivated homebuyers are out and about. 

But the KG Home Team knows that not every homeowner in New Castle County can recognize the signs that it's time to move, so we've rounded them up! If you're still wondering if now is the best time to upgrade to a new property in Wilmington or even build new, here's why you should jump at the chance this summer:

You've outgrown your home
Many homebuyers in today's real estate market are ready to buy a new home simply due to lack of space. It's also another popular reason for homeowners to move on! Do you seem to have no room left in the closet? Is your family expanding? Do you have nowhere for guests to sleep when they come to visit? Upgrading to a larger home may be just what you need!

You've regained equity
Not every homeowner in New Castle County can say they have regained equity, although things have been proceeding in a positive direction. If you've regained equity in your home, you're in a great position to move. If you're not sure, you can always have your home re-appraised to determine if selling is the best idea for you right now.

You live in a popular area
Real estate is all about location, so consider yours in your decision to move! Are homebuyers flocking to your neighborhood in search of available properties? Are homes selling quickly in your area? We are happy to provide a list of comparable listings to give you an idea of what your home may sell for this summer— just give us a call!

You're just ready
In the summer months, we are all ready to get out of the house and change up the scenery. You do not need a better reason to move to a new home in the Wilmington area other than you're just ready for change! We understand and we're happy to help you find your dream home this summer.

There are many reasons to sell your home in Wilmington or Newark this summer, but you shouldn't wait to long to decide! Mortgage rates will not be this low forever and with current inventory, your property could be pushed to the top of homebuyer lists. The KG Home Team will guide you through a successful home sale and answer your questions every step of the way. 

We look forward to hearing from you!

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The real estate market has come a long way but right now, buyer demand is outpacing supply. If you're a home seller thinking about listing your home this summer, there is no doubt that now is the time!

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

As excited as we are about the warm, summer temperatures that have just arrived, the season also tends to bring its fair share of storms. Certain parts of the country are already experiencing bouts of bad weather and therefore, it's prime time to prepare your home in Wilmington, DE for any that may be coming our way.

Take this weekend to check off the following on your storm prep to-do list. With these tips, you can both secure your home and avoid any surprises that can come from Mother Nature this summer.

• Emergency plan. Draft an "emergency plan" with any notes or procedures your family should follow in case of inclement weather. Designate a room in which everyone should meet during a storm.
   
• Make repairs. Secure all broken or loose fence posts, reattach gutters or shutters. The last thing you want is for strong winds to blow these into your home or cause damage to your vehicles.
   
• Secure landscaping. Broken or loose tree limbs should be hauled away now before the storm season gets underway.
   
• Protect electronics. Install surge protectors for your expensive electronics and appliances as a lightening strike can quickly destroy them. 
   
• Create a storm kit. Gather flashlights, batteries, bottled water, snacks and a weather radio and place in your designated storm room for safe keeping.
   
• Prep for insurance claims. Take digital photos of your home, valuable, vehicles and the like to keep off site for potential insurance claims down the road.
   
• Store vehicles and furniture. Bring outdoor furniture into storage or secure it on your patio. Also, bring all vehicles into your garage to avoid storm damage.

Summer is such a fun season in Wilmington and Newark, Delaware, with sunshine, events at the Riverfront and more time for enjoying recreational activities. Don't let storms get in the way of your enjoying the summer or your new home in New Castle County. 

As always, the KG Home Team is happy to help walk you through the home buying and home selling process this year. From recommending local mortgage experts to providing a list of available homes in Wilmington, do not hesitate to contact us!

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Homebuyer demand is growing increasingly strong this season! Not only is competition increasing as well, but the real estate market is getting a much needed boost. However, the one thing that is lagging behind is housing inventory. If you're planning to sell your home this year, now is the time!

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 shopping for a home in Wilmington, Delaware, many buyers cite the "green factor" as part of their criteria for making a purchase. Buyers want to "go green" to save money on energy costs and of course, help their home run more efficiently with less of a footprint. 

One of the ways to do this, as a homeowner, is to install solar panels— these are the reflective panels that sit on your roof and subsequently bring down your energy costs over time. Solar panels are very expensive to purchase—many at a cost upwards of $20,000—or they can also be leased. If you go the leasing route, oftentimes the company will just give you the panels when you're finished.

But not so fast! What you may not know as a Wilmington or Newark DE home seller, is that your solar panels could be doing the exact opposite of attracting buyers this spring and in fact, killing your hopes of a successful home sale.

The typical solar panel lease could be up to 20 years and in fact, many homeowners do not tend to stay in one place that long. Whether it be due to a job transfer, downsizing or upgrading to a larger Delaware home, the probability of selling your home before your solar panel lease is up is quite high.

Instead of simply providing that "green factor" that many Wilmington DE homebuyers are looking for, the leased solar panels will force a buyer to first qualify to take over the lease or buy out the remaining lease before they can purchase your home— pending they even want to buy a property with these installed.  

Going one step further, if the buyer does decide to take over the solar panel lease, that payment is now visible on their credit report. Should the homebuyer decide to do a refinance down the road, that extra bill on their credit report may push them over qualifying ratios to secure a lower rate.

As you contemplate turning your Wilmington, Delaware home into a homebuyer's paradise this spring— complete with energy-efficient appliances and solar panels—first consider the complications that can arise when selling the property. 

The KG Home Team is here to help make your home selling journey both as easy and enjoyable as possible, so do not hesitate to reach out with any questions about what could raise red flags in your home sale this year. We can fill you in on exactly what buyers are looking for and what can ultimately slow down your sale.

We look forward to hearing from you!

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Selling your home successfully goes beyond home features, location and timing— one of the most important factors is pricing. Pricing your Wilmington DE home correctly up front can reduce the amount of time it will sit on the market. 

For instance, did you know that homes that experience a price reduction sit on the market longer and eventually sell for less than similar homes?

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 the past, Wilmington and Newark DE area home sellers have had to compete with a large inventory of distressed properties—both foreclosures and short sales. Now, the amount of foreclosures and short sales available has dropped significantly in most markets and for home sellers, spring seems to be the time to list with the competition gone.

However, 2015 holds new competition and Delaware homebuyers are viewing it as the better option over what is available in the current real estate market.

New construction 

Newly-constructed homes accounted for 16% of all homes sold in 2014, according to the National Association of Realtors' Profile of Home Buyers & Sellers. New construction homes in the Wilmington area not only offer them the ability to customize and choose the home's design, but also free them from the burden of existing home issues.

As the new competition on the real estate block, new construction also offer Wilmington area buyers the following that existing homes do not:

• No need for renovations
• No need for repairs that existing homes may require
• Amenities in new construction communities— for instance, a swimming pool, clubhouse, fitness center or golf course
• Green or energy-efficient appliances, windows and other eco-friendly features
• An alternative to the lack of existing homes inventory in the real estate market

One of the main reasons new construction is emerging as a strong competitor for home sellers is the current lack of inventory. In fact, the number of those who cited a lack of existing homes in the survey is likely to increase this year.

Existing home inventory is currently sitting at a 4.7 month supply, while it needs to be at 6 month supply to maintain a "normal" market by historical standards. In comparison, the inventory of new construction homes available is currently pegged at a 5.4 months supply.

So, what can you do to avoid the competition as a Wilmington or Newark DE home seller? List now! Many homeowners are waiting until spring to list their properties and acting now could put you ahead of this rush of homes soon to hit the market.

As your Greater Wilmington real estate experts, the KG Home Team can walk you through the home sale process every step of the way. Do not hesitate to contact us with any questions and if you're ready to get started, we're here to help!

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While home sales did indeed stumble in January, compared to December, we can see that existing homes sales have outpaced last year every month. In fact, this January's sales numbers were 200,000 homes greater than January of last year. 

Also better when referencing last year's numbers are pending home sales. The number of houses going into contract has done better in the last five months as compared to last year at this time.

What does that mean for you? Don't be afraid to list! Demand is currently 3 times greater than last year and today's housing inventory is not enough to support the motivated buyers. This may be the perfect time to get the best price for your home!

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

With all of the cold weather we've been experiencing lately, it's hard to think spring. We are just one month away from the start of the new season and Wilmington, DE is packing the calendar with events to get you out and about. 

If you're starting to feel a touch of cabin fever this winter (and especially this week!), here are a few upcoming events in Wilmington that can lift your spirits.

Lecture: How to Get a Lush, No-Fuss Garden
When: Every Wednesday through February 25, 2015; 7 PM
Where: Delaware Center for Horticulture, Wilmington DE

Planning a garden is one easy way to start thinking spring and many Wilmington DE homeowners may be looking to do so in order to boost their curb appeal. With this lecture series every Wednesday through February 25, you can learn to garden smart with plants suited to thrive locally in Delaware.

Art on the Town
When: First Friday of every month (excluding January); 5:30 PM to 8 PM
Where: Art galleries, museums, storefronts and studios around Wilmington, DE 

Local art venues including galleries, museums and studios open their doors on the first Friday of every month to allow Wilmington area residents to meet local artists— and the event is back after one month off! Take a self-guided tour of the galleries during Art on the Town, also known as the Art Loop, and experience the local culture and arts scene.

Wilmington Library Chocolate Festival
When: March 14, 2015; 11 AM to 2 PM
Where: Wilmington Institute Library; Wilmington DE

Get out of the house and dive straight into a baking contest open to the public and local chefs! There will be amateur and professional categories for judging, vendors, raffle items, activities for the kids and lots of chocolate tastings! Admission is $2 and tasting tickets are .50. 

Egg Drop Challenge
When: March 14, 2015; 1 PM
Where: DuPont Environmental Education Center; Wilmington DE

Becoming an annual attraction in Wilmington, the Egg Drop challenge is a fun event for families! Teams earn points and use them to "purchase" materials for the challenge and protect the team egg. The egg is dropped off the balcony and the team whose egg that makes it through the drop in one piece wins!

As your local Wilmington and Newark real estate experts, we are happy to provide suggestions for enjoying the area— especially during the winter months when you may be stuck indoors! If you're ready to call the Greater Wilmington area your home, do not hesitate to contact us!

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