Kat Geralis Home Team Wilmington DE Real Estate News Archives

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
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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

While the winter season has been named one of the best times to sell your Wilmington, DE home, many homeowners are taking to remodeling instead. Home projects, when planned correctly and according to the real estate market, can boost your home value and pay off when you decide to sell. 

So whether you're simply ready to upgrade your kitchen or bring up the value of your home in Wilmington or Newark, keep in mind the following projects that have the highest return on investment (ROI) at resale:

Your front door
Year after year, replacing the front door continues to provide one of the healthiest returns on investment for Delaware homeowners. Replacing your current door with a steel door can average up to 98 percent ROI— the highest return when looking at Remodeling Magazine's Cost vs. Value Report.

In addition, replacing your front door is one of the least expensive projects in the report, coming in at an average of $1,230. It requires little maintenance and can even qualify as an energy upgrade depending on the door you choose.

The siding
Next in terms of ROI is replacement siding. Swapping out the siding on your Wilmington area home can recoup you as much as 84 percent at resale. In fact, by keeping your old, worn-down siding, you could assume a loss of 10 percent on your home's value.

Just by looking at the Top 10 Projects for Long-term ROI in the Cost vs. Value Report, you will notice three of them are related to siding. New siding is also the one home improvement project that does wonders for your curb appeal— important if you're considering selling your home in the near future.

Kitchen upgrades
There is no need to do a complete kitchen overhaul this year— these types of renovations took a hit in terms of ROI in recent years. Minor kitchen upgrades including new cabinets, countertops, flooring and appliances can recoup you an average of 82 percent. The Cost vs. Value Report suggests an investment of $19,000, including labor, to make these changes and notice the benefits at resale.

The deck or patio
More homebuyers in recent years have expressed a desire for outdoor space. Decks are coming back around in terms of ROI and even beating out bathroom remodels. One reason decks and patios are a smart investment this year is the low cost— ranging anywhere from $8 to $30 per square foot. Adding a wooden deck addition to your Wilmington home could bring an ROI of 80 percent.

As your local New Castle County real estate experts, the KG Home Team knows what homebuyers are looking for and where your money would best be invested if you're looking to sell. Contact us today to get an idea of your home value and where the property could benefit from renovations.

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Over the past year, real estate has been heading in the right direction and both buyers and sellers are beginning to notice. In fact, for the first time in 9 years, Americans have a positive view of real estate as a whole. 

It is this growing confidence on both sides of the fence—homebuyers and home sellers— that will contribute to a busy year for the Wilmington DE market. Do not hesitate to get started if you're serious about buying or selling this year as waiting even just a few months could cost you more money in the long run!

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

Now that the weather has turned colder, selling your Wilmington home may not seem so easy. Homebuyers are not out in droves like they are in the spring and it takes a few strategic staging moves to make them feel comfortable during the winter months.

Yet the snowy season has been named the best time to sell your home for a reason— the homebuyers that are house hunting in Wilmington and Newark are motivated and ready to buy. Curb appeal and landscaping won't be first on your list, but here are four other important points to consider when listing your property:

Make sure you can easily navigate the property
With snow and ice, driveways and sidewalks can be a hazard for New Castle County homebuyers. Be sure to clear these and any back walkways before they arrive. And be prepared! You never know when buyers will want to look at your home— keep walkways clear to avoid last minute shoveling.

Turn on the heat
A cold home is not inviting and that can affect a buyer's perception of your Delaware home. Turn on the heat and make sure the home is warm and cozy before buyers arrive.

Play up your winter home features
Do you have a fireplace? Wilmington and Newark homebuyers will love to see this in the winter! Chat with your real estate agent ahead of time to ensure they are comfortable with using the fireplace as this can really create a welcoming feel for buyers.

Show the outside features
Even though there may be snow on the ground, it's important to show homebuyers your outdoor features like a deck, pool or patio. Keep these clear of snow and ice to allow buyers to view these from indoors. You will want them to get the whole picture when they tour the property.

With the right team, you can sell your home during the winter months! Contact the Kat Geralis Home Team today to get started!

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More home sellers will soon return to the real estate market as equity continues to build. In fact, equity has returned to 85% of homes under $200,000 and 94% of those above $200,000.

Have you recently regained equity in your home? Beat the spring and summer busy seasons and list your home now! The Kat Geralis Home Team can get your listing in front of the right homebuyers and help you sell successfully!

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 you are ready to buy or sell a home in the Greater Wilmington Delaware area, you want to work with the best. That's why I am happy to share that I've been ranked the Top Keller Williams agent in Delaware!

Choosing from over thousands of real estate agents, Real Trends takes into account both transactions and sales volume when compiling their list. Given these factors for this year's Best Real Estate Agents in America, I was ranked 3rd Best Agent in the State of Delaware and the Top Ranked Keller Williams Agent! 

So, don't work with just any agent in the Wilmington, DE area this year, work with the best. A real estate agent can accomplish so much on your behalf, whether you're buying a new home or selling your current property in Wilmington or Newark, so don't go it alone. It's always best to leave it up to the pros in order to have a smooth and less stressful real estate journey.

Below are just a few of the things a great Realtor can do for you:

• Negotiate with all parties involved— the appraiser, inspection company, title company, other agents
• Help you net up to $41K more than if you decided to forgo working with an agent
• Work as your buyer's agent for a new construction purchase
• Find you the best deal
• Use your homebuyer wish list to find your dream home 
• Create a strategy to attract homebuyers to your property
• Pique homebuyer interest online, where they first begin their home search
• Assist with relocation
• Help you find the perfect place to retire

The KG Home Team offers all of these services and more— our experience in the Greater Wilmington area is unparalleled and available to assist you in achieving your Delaware real estate goals. 

Contact us today!

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With mortgage rates this low, waiting to buy a home in Wilmington, DE no longer makes sense. In fact, did you know that buying a home is 38% less expensive than renting? It's true! Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying and rates haven't been that high since 1989!

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
Follow me on Twitter