Kat Geralis Home Team Wilmington DE Real Estate News Archives

Summer is one of the best times to tackle that long homeowner to-do list! Whether it's replacing your front door, installing new light fixtures and landscaping, or even as big as renovating an entire bathroom, there are certain projects that can give your home a much needed boost in terms of looks and value! But don't be too quick with the hammer— instead take a look at our list of Delaware and Pennsylvania home projects that will pay you back when the time comes to sell.

According to real estate news outlet Keeping Current Matters, the following four projects will yield you the highest return on your investment:

Bathroom Remodel
You may have heard that kitchens and bathrooms help sell homes and it's true! A minor bathroom remodel can bring homeowners the highest return on investment—102 percent—when they replace the tub and tile, and add a new toilet, sink, vanity, and other bathroom fixtures.

Curb Appeal
This is what may grab a buyer's attention, so don't write off curb appeal as an unimportant home improvement project this summer! Adding landscaping, including trees, shrubs, and other flowers, creating walkways and accessorizing with planters can yield homeowners as much as 100 percent of their investment at resale.

​Kitchen Remodel
Just like we said above, a kitchen remodel can do wonders in the eyes of a buyer! This home improvement project has the third highest ROI for homeowners, likely allowing them to recoup 98.5 percent of the investment! This remodel includes upgrades like new countertops, flooring, cabinets, and lighting. 

Exterior Work
The exterior of your Delaware or Pennsylvania home is just as important as the interior! In fact, adding new siding, front door, or light fixtures outside can yield homeowners as much as 95.5 percent of their investment— coming in at the #4 top home project in terms of return!

Ready to sell your Delaware or Pennsylvania home? Curious what will help boost your home's value and help you find a buyer in no time? Give the Kat Geralis Home Team a call today!

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

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
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When you arrive to tour a home in Delaware or Pennsylvania, it can be easy to get distracted by home features like light fixtures, paint color, number of bedrooms, and the outdoor space— especially if you're a first-time homebuyer! These are indeed important aspects of a property to take notice of, but you will also need to keep your eyes out for minor—or major—flaws that could be hidden with simple home staging.

In some cases, Delaware or Pennsylvania home sellers will try to cover up issues with home staging and as your local real estate experts, we are here to help you uncover them!

Listing Phrases
Before you even arrive at home in Delaware or Pennsylvania, you can get an idea of what might be waiting for you simply by the phrases used in the listing description. Words like "cozy" and "quaint" are often euphemisms for small homes. Listings can also state that they are ready for your touch or a "fixer upper," which typically means the property needs work.

Painted Floors
Paint can cover up many problems in a home— so don't always assume it is for decorative purposes when house hunting! If you happen to pull up a corner of carpeting in a DE or PA home and notice paint covering sections or all of the floor, it may be to cover up pet damage or water spots. 

Rugs
Typically used to warm up a home or add a touch of color to a room, rugs and runners can also be used to cover warped floor boards and water damage. Walk over the rugs several times and take note of how the floor feels— does it creak, crack, or feel unstable? If so, it could be worth taking a close look into before buying the home.

Furniture Placement
If the placement of furniture in a home feels off, it could be because the homeowner is hiding something underneath the furniture or around it. For instance, are there frames hung in an odd formation or spot? They could be covering water spots or cracks. Is there a large couch in the center of the room? It could be covering imperfections in the floor or pet damage.

Ready to get started on your Delaware or Pennsylvania home search? Give the ​Kat Geralis Home Team a call today!

We even offer FREE First-Time Home Buyer Seminars!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
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Buying a home in Delaware or Pennsylvania is likely one of the biggest decisions (and purchases!) you will make in your lifetime and as a result, you will want a team of experts on your side to see you through the process. One of the most important is, of course, your real estate agent and the other is your lender. 

Your lender will help you secure financing to purchase a home in Delaware or Pennsylvania and be available to answer all of your questions surrounding debt, closing costs, and even your buying timeline. But remember, not all lenders are the same, so it is key to ask a few questions in order to find the best fit for you:

Is now the right time for me to buy?
Depending on your specific financial situation, it may be in your best interests to put in an offer on your dream home now or wait until next year when your buying power is stronger— and a great lender will tell you that! The right lender will clearly explain how your debts and down payment can affect your buying power—or your ability to qualify for a mortgage and favorable rate—and how that will play into your timeline.

What credit score do I need to qualify?
A great lender will share what they are looking for in terms of credit score and credit history in order to provide financing to a homebuyer. To take it one step further, they may even comb through your credit report to show what debts are worth paying off before applying for a mortgage in order to secure the best rate. 

What are the closing costs?
Depending on the loan program you choose, you will need to pay a few closing costs before anyone hands over your new keys. A great lender will outline the different loan programs you may qualify for and what the closing costs might be for that specific program. The lender should also be able to share how you will pay such costs, whether by check or via electronic transfer.

There are many facets to homebuying in our area and you can count on us to make sure you're aware of them all! Contact the Kat Geralis Home Team today for a lender recommendation or a list of available homes in Delaware and Pennsylvania. 

We even offer FREE First-Time Home Buyer Seminars!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
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It is common for the real estate market to experience ebbs and flows in Delaware and Pennsylvania— in fact, it's always changing! Some years, it could lean in favor of buyers, and others, sellers may have the upper hand. But how do you know which direction the market is headed right now? Are there signs to watch for?

There are indeed specific factors that can help you identify which type of market you're in and as your local real estate experts, the Kat Geralis Home Team is here to point them out! Below are three ways you can tell if you're in a seller's market:

Home Prices

One way to find out if you're in a buyer's or seller's market is to look closely at home prices. If you notice that home prices are rising steadily over time, you are likely in a seller's market. Curious about your Delaware or Pennsylvania home value? Give us a call! We're happy to provide more information for homeowners in the area.

Final Price vs. Asking Price

If sellers in your area are typically earning the asking price or even more (due to a bidding war or simply buyer demand) for their properties, you are probably in a seller's market. When homes sell for below their asking price, you would are in a buyer's market as these deals would ultimately work in a buyer's favor.

Days on Market

The average number of days that a property is on the real estate market, often referred to as DOM, will show you how "old" the listing is; you can find this figure easily on any listing sheet, either online or in-person. Take a look at this number— if homes are selling quickly (between 7 to 10 days), you are in a seller's market. This is especially important for local homeowners as this indicates their property is likely to sell efficiently and at a favorable price due to buyer demand.

No matter if you're a buyer or seller in Delaware or Pennsylvania, you can count on the Kat Geralis Home Team to walk you through the process! Contact us today!

We even offer FREE First Time Home Buyer Seminars!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
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You've heard the term before, but what do you really know about FSBO homes in Delaware and Pennsylvania? FSBO, or For Sale by Owner, homes, mean the owners have not enlisted the help of a real estate agent to help them sell the property. And while that sounds as though it will not affect you as the buyer, there are a few things you will need to note before you decide to purchase a FSBO.

You can use an agent to buy a FSBO
Just because the home seller declined the use of a real estate agent doesn't mean you have to! There are many perks to working with an agent when buying a home, perhaps the biggest one being they handle the negotiations for you!

You can still negotiate
As I mentioned above, you can still negotiate your offer— even when it's a For Sale by Owner home! While the seller may have chosen to work without an agent for the commission aspect of the deal, that doesn't always mean they are rigid on the price. Remember that your agent has been here before and will know how to find the best deal!

They might be willing to cover costs
Homeowners in Delaware or Pennsylvania that choose to go the FSBO route may still cover the costs of your agent, regardless of their reasoning behind ditching their own. Many are willing to cooperate with buyers and their agents to ensure a smooth transaction.

You may need a lawyer
Every state is different, but some require that both parties be represented by an attorney, even if you have a buyer's agent on your side. Some do not require that attorney to be present at the closing, so if you are serious about your FSBO purchase, simply consult your real estate agent! 

You should still get pre-approved
It never hurts for a homebuyer to get pre-approved in a real estate transaction— even if it's a FSBO deal! Oftentimes these sellers are inexperienced and will make quick decisions when offers comes in, so it is always wise to already have your pre-approval edge to help yours stand out! 

The most important takeaway is that FSBO homes are not sold the same way standard, agent-listed properties are and the process of purchasing one will differ for Chester County and Delaware County buyers. If you find yourself interested in a FSBO property, do not hesitate to contact your real estate agent! 

Unsure how to navigate the local real estate market in Delaware or Pennsylvania? Give the Kat Geralis Home Team a call today! We even offer FREE First-Time Buyer Seminars!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Wilmington Real Estate
Wilmington Homes for Sale
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Selling your Delaware or Pennsylvania home during the holidays can be a lucrative move— if you pay close attention to important factors like pricing and of course, staging. Staging your property is one of the many elements that can help you to sell both quickly and for top dollar and as a seller in today's market, it is certainly something you won't want to skip over!  

As your local real estate experts in the Greater Wilmington and Southeastern PA area, we have included a few tips below for selling and staging your home during the holidays— so be sure to read before you begin to deck the halls!

Match your decorations to the style of your home
Keep your home's decor consistent during this time of year to create a cohesive vibe for homebuyers. For instance, if you have a more traditional home, keep the decor simple, classic, and elegant. If you have a more modern home, bring in modern decor and stick to a minimalist color palette. 

Try not to be too personal
The holidays do evoke nostalgia, as well as family memories you may have made in your home, but it's important to not be too personal when it comes to decor. You can still deck the halls with your favorite ornaments, lights, and the like, but try to save the "Baby's First Christmas" photos and "World's Best Mom" items for the next holiday in your new home. Remember that buyers want to be able to envision themselves in the home, so it's best to create a neutral space without overly personal decor. 

Skip the lawn ornaments
You may love your inflatable Frosty that sits on your front lawn, but today's buyers are easily turned off by loud, garish holiday decor. After all, they may not be able to focus on the exterior of the home itself if they are distracted by glittering reindeer, life-size snow globes, and flashing lights. Pass on the lawn ornaments this year and keep it simple with white lights.

Keep holiday cards organized
Stringing up your holiday cards in a garland-style across your kitchen is a fun holiday pastime, but not when you're selling your home. Keep holiday cards organized by storing them in a drawer or in a basket if you're trying to impress buyers.

Light a fire
Selling your home during the holidays can be a smart move as this tends to be a highly emotional time of year. Buyers are looking for a home where they can begin their own holiday traditions, host gatherings, or watch their family making memories— create a cozy feeling by lighting a fire if you have a fireplace or making sure the property is warm when they come in from the cold.

Ready to move on to begin the new year in a new Delaware or Pennsylvania home? Contact the Kat Geralis Home Team today for more information about next steps and finding your home value! 

Happy holidays!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Wilmington Real Estate
Wilmington Homes for Sale
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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
Visit My Website
Contact Me
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As you may have heard by now, the real estate market has much less inventory than it has in past years. We even shared in our last market stats post that inventory for Q2 of 2017 was standing around a 3.9 months supply— a 21 percent decrease from the previous year. But does that mean you should shy away from listing your Wilmington DE or Southeastern PA home this fall? No! 

The real estate market could use your home and if you've been thinking about selling, below are the top tips for a successful sale during this time of year:

Clean up the yard
This time of year, the leaves have started to change and fall and may be cluttering up your yard. Take the time to rake all of the debris currently in your yard to make a nice impression on potential buyers who may drive by or arrive for a showing.

Ramp up curb appeal
Curb appeal helps to create cozy, welcoming feelings in Wilmington DE or Newark DE buyers, so start with your front door! Add seasonal mums on either side and consider adding a subtle fall wreath to welcome buyers inside.

Warm up the house
When the weather begins to turn cold, you'll want to make sure that your Delaware or Pennsylvania home is warm for buyers. Turn up the heat to allow for a comfortable temperature inside and consider painting your living room walls a neutral, warm color to appeal to buyers.

Clean the fireplace
If your Southeastern PA home has a fireplace, this time of year is the perfect window to show it off! Gas fireplaces can be lit when buyers arrive, but if your wood-burning fireplace hasn't been cleaned, now is your opportunity to call the professionals and have it ready for the colder months ahead.

Turn on the lights
Buyers today are looking for natural light in properties, but if your home lacks a wealth of windows, you can still create that illusion by turning on all of the lights. Especially as it begins to get darker earlier, make sure all of the lights are on for buyers so the home feels warmer, more open, and of course, friendlier. 

Do not hesitate to contact the Kat Geralis Home Team with any questions about selling your home this fall or which steps you should take to list your home. We're here to help!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
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Did you know the majority of today's homebuyers aren't aware of closing costs? You may find that you have prepared for homeownership with your down payment and even have your first month's mortgage ready in your bank account, but this very important set of costs is commonly overlooked. 

As your local real estate experts in Greater Wilmington DE and Southeastern PA, the Kat Geralis Home Team has included a few key notes on closing costs below so you are better equipped to make the biggest, most important purchase of your life!

What Are They?

Closing costs are recurring and non-recurring fees connected to both your lender and other parties in the sale—for instance, an attorney, inspector and title company—and are to be paid upfront at the closing table. Unless you have financed them ahead of time or worked your offer to arrange for the seller to pick up the tab, unfortunately there is no way around these costs.

Closing costs typically include:

• Homeowners insurance
• Title insurance
• Loan origination
• Home inspection
• Appraisal
• Document prep
• Property line survey
• Title search and recording
• Loan underwriting
• Wire transfer

How Much Will They Cost?

Closing costs tend to range between two and five percent of the total purchase price of the home. 

How Can You Prepare?

It is true that you may not know how much you will owe in closing costs until you find a home in Delaware or Pennsylvania and meet with a lender, but you can still gather a general idea based on your price range alone. Is your budget for a new home around $150,000? You can expect to pay between $3,000 and $7,500 in closing costs.

Once you've met with your lender in Wilmington, Newark, Chester County or Delaware County, you can estimate how much you will owe in closing costs given your loan product, loan amount and the interest rate you are offered. You can use a mortgage calculator to estimate your monthly payment and how that will fluctuate depending on if you've decided to finance the closing costs into it. 

Buying a home for the first time in Greater Wilmington and Southeastern PA is both an exciting and uncertain time. Let the Kat Geralis Home Team walk you through the process, every step of the way, so you can feel more at ease and enjoy the prospect of finding your dream home!

Give us a call today for more information about buying a home or available properties in the area! We even offer FREE First-Time Home Buyer Seminars!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
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In just a few days, it will officially be the start of a new season in Wilmington DE and Southeastern Pennsylvania and aside from cooler temperatures and falling leaves, the calendar is changing too! This September and October are filled with fall-themed events around the area, including a fall arts and crafts festival, Oktoberfest, and more!

Below are a few ways you can celebrate fall in Chester County, Delaware County, Greater Wilmington DE and Southeastern PA:

Delaware Saengerbund Oktoberfest
September 15-17, 2017
Friday 5 PM to 11 PM; Saturday 12 PM to 11 PM; Sunday 12 PM to 6 PM
Delaware Saengerbund
Newark DE

Friday night's parade marks the beginning of the three-day festival celebrating all things German food and culture! The parade will feature the Muenchner Kindl, or Munich Child, a symbol of the city of Munich, which will lead the march. Food for the festival will span everything from grilled Bratwurst and Weisswuurst or veal sausage, to pretzels and Rollmops or marinated herring with rye bread. You can also enjoy potato salad and sauerkraut made by the the Ladies organization in the Delaware Saengerbund kitchen. 

Art & Craft Fall Festival
September 30, 2017; 11 AM to 5 PM
Woodside Farm Creamery
Hockessin DE

This FREE fall festival will feature arts and crafts from local artists, including original paintings, prints and more. Meet the artists and stroll around, enjoy a free sample of Woodside's newest ice cream flavor, and take home some of their homemade fudge, farm fresh cheeses or one of the farm-grown mums or pumpkins for your entryway! There will be free parking and activities for the kids like pumpkin painting and scarecrow making!

Autumn Leaf Train Ride to Hockessin
October 7 through November 5, 2017
Held Saturday and Sunday; 12:30 PM and 2:30 PM
Greenbank Station
Wilmington DE

It's a beautiful time of year in Delaware and Pennsylvania, so why not take it all in with a special train ride? Bring a camera and enjoy a trip that follows the entire length of the railroad (17 miles round trip!) to Hockessin where you will spend thirty minutes picking up treats for the train ride back or visiting the local shops.

Apple Picking at Hopewell Furnace
September and October
Hopewell Furnace
Elverson PA

What better way to celebrate fall than with apple picking? Over the next two months, visitors are able to pick apples not commonly found in today's orchards from the park's historic orchard. 

​Longwood Gardens Chrysanthemum Festival
October 7 through November 19, 2017
Longwood Gardens
Kennett Square PA

Mums are a symbol of the fall season and Longwood Gardens has a special festival dedicated to the autumn beauty! Explore the Conservatory filled with thousands of mums, fashioned into orbs, spirals, pagodas and more. This October, the Thousand Bloom Mum will show off more than 1,500 flowers arranged on one single stem and with longer hours, the foliage glows with lanterns on seven specific nights in October. Outdoors, the gardens will also be open for visitors to marvel at the fall colors including the Pumpkin Playground!

You can count on the Kat Geralis Home Team to introduce you to the surrounding areas, as well as walk you through the processes of buying a home and selling a home. Contact us today for more information about the local real estate market!

Happy fall! 

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook