Kat Geralis Home Team Wilmington DE Real Estate News Archives

The home search is only the beginning, it's also the most important aspect of your Wilmington real estate journey. It all starts with getting a feel for price ranges and what's available in your desired neighborhoods of Newark and Wilmington, then moving on to what you like and desire in a home and finally, touring those homes to find your best fit. With these home search tips, you'll be well on your way to finding a new home this summer. First-time homebuyer? No problem! We even offer FREE first-time buyer seminars to help!

Make a Homebuyer Wishlist
One of your first tasks as a homebuyer in the Wilmington and Newark area should be to sit down and make a wish list. Establish priorities for available homes— do you want a certain number of bedrooms, but would settle for less if the home had a finished basement? Things like this all add up in the bigger picture of the Wilmington real estate market. Credit.com suggests to "make a list of the ten most important criteria for a new home. Then divide your list items equally under two categories: "top priority" and "nice to have." After you've made this list, take it with you as you search for homes. Delaware homebuyers can oftentimes get distracted when house-hunting and it's helpful to refer back to the list.

Start Your Search, Two Places
Keeping your homebuyer wish list in mind, you can start searching for properties, narrowing down by price range. Homebuyers should start their home search online, but also in person as homebuying is an emotional process that requires buyers to experience a property for themselves. Once you've made a list of available homes that interest you, then go with your Realtor to view the property up close and personal. Refer back to your homebuyer wish list and take notes while you're inside the homes. You can then go back to see what you did and did not like about each property.

Consult Your Realtor
No matter what stage of the homebuying process you're in, it's always helpful to have a real estate agent on your side. Remember, they've done this before, numerous times. If you have questions, consider your Realtor your communication hub and sounding board— every question or concern can go through them. While you may have started your home search online, know that your real estate agent has an "in" per se, their finger on the pulse of the real estate market in your community. They're a great resource for finding Wilmington, Newark homes that may have just come on the market or will be going up for sale soon. And as always, "if you discover a listing you like, you can pass it along for your agent to evaluate," adds Credit.com. "It's important to develop this partnership!"

The KG Home Team is here to help at every stage of your homebuying journey in the Wilmington, DE area. Contact us today to get started and go over homes that may meet your wish list— summer is shaping up to be an exciting time in the market, so don't delay!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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For a successful real estate transaction in Wilmington and Newark, it takes two— both a homebuyer and home seller. Homebuyers have recently been built up as more confident than ever in their ability to purchase a new home—taking the local real estate market by storm— but now, home sellers are joining in.Wilmington home sellers are now recognizing that the low mortgage rates and housing prices won't last forever and now is a great time to move!

According to Fannie Mae in their most recent National Housing Survey, "The share of respondents who believe now is a good time to sell a home increased for the third consecutive month to an all-time high of 42 percent, an encouraging sign since many potential homebuyers will need to sell a home before entering the purchase market."

It seems the market has seen an overall shift in attitude for home sellers, with one senior advisor stating consumer attitudes toward selling are now at the most favorable level they have seen in the survey's four-year history. 

So why the sudden shift now? Wilmington, DE home sellers do not see the benefit in waiting to purchase a home or waiting for market conditions to move next to perfect. Home prices and mortgage rates are projected to continue rising over the next year and sellers are ready to take advantage of the current levels. Sellers also acknowledge that they are more likely to attract a homebuyer and come out with a sales price they are happy with while these mortgage rates are still low.

The majority of home sellers are looking to jump on this exciting time for Delaware real estate as they expect home prices to stay relatively the same, if not rise, over the next year. The survey's participants found only 5 percent actually expect prices to drop over the next 12 months. This is great news for both parties, as Wilmington and Newark homebuyers don't want to buy a home that may be worth less down the road.

There may indeed be more benefits to selling a home in Wilmington now versus waiting out the market— so take note! If you're ready to start your home search and like many others, attract homebuyers to your property while mortgage rates are still low, contact the KG Home Team today! We can help you sell your current property and be onto the next to enjoy the summer!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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Key Listing Stats: There are 2,235 homes on the market with the average sales price of $213,190. For the first quarter of 2014, there have been 939 closed home sales.

Key Listing Stats: As you can see in the graph above, the number of homes for sale, as well as the number of closed sales, have decreased slightly from the first quarter of 2013. 

The coming months will be a great time to look into buying a new home in Wilmington or Newark! Take a look at these stats to get a better idea about the current real estate market in our area. Want more information? Let the KG Home Team help you discover your real estate options and move closer to purchasing your next home— we even offer FREE first-time homebuyer seminars! 

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

Tax time has come and gone once again, but it will be back next year! If you're one of those people who hate paying taxes, you'll want to pay attention to the cities that offer the best "effective tax rate," or lowest amount taken for property taxes, sales tax, excise tax, and income tax. But before you pack your bags, consider this: Wilmington, Delaware is one of those cities! For those who despise paying taxes, here are just a few reasons Wilmington is the place for you:

Effective Tax Rate
Like I mentioned above, the effective tax rate is important to pay attention to for homeowners in a given city. And Delaware tops the list for most effective tax rate as this number for all of its citizens is under six percent! While it may be the second smallest state in the U.S., Delaware has no sales tax and boasts a relatively low cost of living for its residents.

Lots to Offer, Low Taxes
Wilmington could be characterized as one of those cities with the most bang for your buck. The largest city in the state, it has all of the charm of a small town and a deep history, offering residents quaint parks and gardens, but also all of the perks of a big city. Wilmington is rich in culture with attractions like the Playhouse, Grand Opera House, and Delaware Theater Company as well as many music festivals during the warmer months. What's more, the city offers all of this without the burden of a heavy tax rate.

Low Cost of Living
The low cost of living, compared to the state and U.S. as a whole, may be what drives many to build businesses and homes in Wilmington. For instance, "the median household income from 2008 to 2012 was $39,761," which is quite a bit lower than the state's $60,119," reported Credit Card Insider. "The nation's median income was $53,046, higher than Wilmington but lower than Delaware."

​Low Cost of Housing
Wilmington also has a low cost of housing— "the median value of owner-occupied housing was $179,300, which was lower than Delaware's $241,100 and the United States' median home value of $181,400," Credit Card Insider added.

Wilmington is a great place to live and its low taxes allow both residents and budding businesses to grow and succeed. Ready to call Wilmington your home too? Whether you're relocating or simply ready for a change, contact us today and we'll fill you in on the area's real estate market, plus how you can succeed in buying a home!

You can also learn more about the buying process at our FREE First Time Homebuyer Seminars! 

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
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Have you been dreaming of buying a home in Wilmington or Newark this year? Come visit us at the Homebuying Fair in Wilmington tomorrow! We'd love to chat about potential properties for sale in the local real estate market, financing your new home purchase, and answer any questions if you're a first-time homebuyer in the Wilmington area. Details on the Homebuyer Fair below:

2014 Homebuyer Fair
Saturday, April 5, 2014
8 AM to 4 PM
Chase Center on the Riverfront
815 Justison Street
Wilmington, DE 19801

There is no cost to attend this local real estate event and you can even enter to win prizes! The 2014 Homebuyer Fair is a great industry resource for those planning to buy Wilmington real estate this year, especially as it will feature many industry exhibitors and service providers. 

You can also expect:

• A live broadcast by TOM-FM throughout the day
• Refreshments served
• Free parking
• Door prizes
• Credit to earn towards your HUD Homebuyer Education Certificate requirements

Come on out to visit the Homebuyer Fair and chat with the Kat Geralis Home Team at Keller Williams. There will be seminars held throughout the day, presenting valuable information on finding your next home in the Wilmington area, options for financing and downpayment assistance, home inspections and so much more.

If you're ready to buy a home, we hope to see you there! Walk-ins are welcome.

We're here to help you with your homeowner goals! You can also learn more about the buying process at our FREE First Time Homebuyer Seminars! 

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

It's officially spring and the Wilmington, DE real estate market is about to take off! Mortgage rates are rising, housing prices are increasing, homebuyers are noticing the local real estate market heating up in Wilmington and Newark. But if you've never purchased a home in Delaware, the task can seem a bit daunting. Don't worry! Whether you're ready to buy this season or next year, there are a few things that can help you prepare for your first-time homebuyer experience:

Determine Your Budget
Start your first-time homebuyer journey off on the right foot and speak to a lender or mortgage broker. Before you begin your home search for Wilmington real estate, you'll want to find out how much home you can afford. A lender or broker can help you determine your budget, which type of home loan fits your needs and also better assess your financial situation.

Find Where You Want to Live
One of the beginning steps in preparing to buy a new home in Wilmington is finding the right neighborhood. Start by taking a tour of the neighborhoods that peak your interest. You've heard the phrase "location, location, location," and when it comes to buying a new home, it could not be more true. After you find out where you'd ultimately like to live, you can narrow down homes in Wilmington and Newark. This can also help your real estate agent pick the best properties for you  and your needs.

Search for Homes Online
You have determined your budget and the neighborhood you'd like to live in, now you can begin your search for Wilmington real estate. Categorize homes by price, size, and location— you can use our home search tool to get started. "Early in the stages of looking for a home, online is a great place to start. You get a good general sense," one real estate insider advised. Although, when you have questions and concerns, always run them past your real estate agent. The internet does not always have the right information for your particular area.

Partner with a Great Agent
As your Wilmington real estate team, we can help you find the best neighborhood and homes for you, as well as help with mortgage tips, especially for first-time buyers. When you choose the Kat Geralis Home Team at Keller Williams, you are putting yourself in great hands whether this is your first or fifth time buying (or selling!) a home.

We're here to help you with your homeowner goals! You can also learn more about the buying process at our FREE First Time Homebuyer Seminars! 

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

In Newark and Wilmington, DE real estate, spring is characteristically a busy buying season and this year, it seems home sellers are already getting a head start. Now is the time sellers have actually begun preparing for the infusion of buyers into the local real estate market. Growing increasingly confident in how fast their homes will be able to sell, many of them are listing their Wilmington homes now. 

As you may have noticed, housing prices for Wilmington and Newark homes are on the uptick, mortgage rates are continuing to rise, and more homeowners are regaining positive equity in their homes— a few of these all new to homebuyers for 2014. Given these factors, many sellers are ready to take advantage of the current state of the market and are listing their properties now to prompt homebuyers to strike before spring.  

But why the big push right now, many Wilmington homebuyers may wonder? According to one real estate expert, sellers are "nervous about what the spring is going to bring," the expert told Realtor.com. In fact, "they don't know if everybody will list this spring— then you’ll have a big counterbalance toward too much inventory — or if there’ll be a crunch again. They figure they’ll get out ahead of the market, list, sell, and be done with it.”  

Real estate economists and outlets are also predicting that with the increasing number of home sellers listing properties right now, the shortage of homes is on its way out. Last year's market was notorious for a lack of homes for sale in Wilmington and Newark, but now insiders suggest the current rising home prices will encourage more to sell and bring more homes into the market.  

In fact, "in the last four months of 2013, year-over-year inventory levels of homes for sale began to climb after 30 straight months of declines," reported the National Association of Realtors.

Wilmington and Newark DE homebuyers will want to take advantage of the added inventory they may notice in the area before mortgage rates and housing prices rise even further. And despite a waning enthusiasm for real estate over the past year, both sides— Delaware homebuyer and home seller— have now seen a confidence boost.  

“In some markets, prices may rise further and buyers will want to catch it, before the increases put them out of their budget," Realtor's chief economist told Bloomberg.  

Ready to list your home this spring? Prepared to make a move to a new Wilmington home before the busy spring and summer seasons? Contact us today to reap the homebuyer (and seller!) benefits at this time!

New to the real estate market? No problem! You can also learn more about the buying process at our FREE First Time Homebuyer Seminars! 

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

Spring is almost here! And with many homebuyers and home sellers preparing to jump into Wilmington, Newark real estate and move to new homes this season, it's a great time to explore the surrounding communities and attend local events in the area.

Below are just a few events you can plan to attend this spring in Wilmington and Newark:

A Day with Dinosaurs
Through February 24, 2014; 9:30 AM to 4:30 PM
Delaware Museum of Natural History
Wilmington DE

There's a dinosaur in Wilmington— located at the Delaware Museum of Natural History! Spend a day with these extraordinary creatures and take the opportunity to get up close to the Hadrosaurus skeleton from the Academy of Natural Sciences of Drexel University. Guests can learn how scientists determine what dinosaurs may have looked like with this exhibit.

Etch A Sketch People, Presidents and Places
Through March 2, 2014; Tues-Sun 9 AM to 4:30 PM
Delaware Children's Museum
Wilmington DE

This is a great event for the whole family! Find out how artist Tim George creates curves with straight lines on Etch A Sketch toys with over 50 artworks. Including portraits of Dr. Martin Luther King, Jr., Delaware’s own U.S. Vice President Joe Biden, Jr., each of the 44 U.S. Presidents from George Washington to Barack Obama, and landmarks from around the country, such as Mount Rushmore and the White House. You can even try your own artwork on the Etch A Sketch!

Philadelphia Flyers Alumni Take on the Capital One All-Stars
February 22, 2014; Game begins at 6:30 PM, Doors open at 5:30
University of Delaware Fred Rust Ice Arena
Newark DE 

On February 22, head out to watch the Philadelphia Flyers Alumni Hockey Team take on the Capital One 360 All-Stars. The legends will take to the ice at 6:30 PM, with doors opening at 5:30 to begin a silent auction and autograph opportunity with Flyers legend Brian Propp. Fun for the whole family can be found at this event with many activities and sports excitement planned for the evening!

DEEC Egg Drop Challenge
February 23, 2014; 1 PM to 3 PM
DuPont Environmental Education Center
Wilmington DE

A springtime activity and chance to have fun despite the winter weather! The second annual DEEC Family Egg Drop Challenge is the perfect event for teaming up with your family to win a prize! In this event, family members will take off on a scavenger hunt, earn points, and use the points to "purchase" materials to protect their team egg. The objective is to drop the egg off on the balcony, but will yours make it to the end? 

45th Annual Dollars for Scholars Book Sale
February 27, 2014 through March 14, 2014; Thu-Sat 10 AM - 9:30 PM, Sun 11 AM - 5 PM
Concord Mall
Wilmington DE

Come out and support college scholarships for Delaware women in the area's largest sale of gently-used books, Dollars for Scholars. This year marks the 45th annual Dollars for Scholars Used Book Sale, presented by the Wilmington branch of the American Association of University Women. Most items are priced from $1 to $5 and include more than 50 categories from books to CDs and DVDs to puzzles. 

Ready to begin the process of buying Wilmington, DE real estate this spring? Contact us today and we can work to find the best home for both you and your family. You can also learn more about the buying process at our FREE First Time Homebuyer Seminars! 

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

2013 saw a major recovery in the Wilmington real estate market and 2014 is expected to continue that trend. This year, homebuyers and home sellers alike will benefit from Wilmington, Newark real estate as the market continues to strengthen.  

In fact, according to MSN Real Estate, "Most experts predict a slower, steadier, more even "pace" this year in most of the country, even as mortgage rates and home values inch up." And while limited inventories may not be at the forefront of this year's Wilmington DE real estate market, there are a few other things to keep in mind when buying homes in Wilmington and Newark this year.  

Buy When You're Ready
Don't feel the need to buy a home in Delaware during the busy spring and summer real estate rushes. And don't feel out of the loop because you didn't strike during the hot market pick-up last year. You may have been able to get a better mortgage rate, yes, but you should buy a home when you and your finances are ready. The right time to buy a home will always be when you can afford it.  

Buying a Home is a Marathon, Not a Sprint
When you purchase a laptop or new phone, the process is quick. You find what you like and you buy it— not the same with real estate. Take your time finding the right home for you, not just one that will simply "do" for now because you can't find anything similar to what you truly want to own. Just as MSN Real Estate says, "Remember that a home is your place to live first and an investment second. Take the time you need to find the right home."  

Don't Crunch the Numbers on Your Own
If you're in the market to buy a new home, you're liking reading real estate articles and watching the news to hear all kinds of data and statistics on rates and levels. Don't crunch the numbers on your own! Consult your real estate agent and keep your own goals and numbers at the top of your mind. When you have questions about what you hear, consult your real estate agent.

Keep It Local
Real estate is all about the local markets. What's happening in other areas of the country that makes headline news is not necessarily happening or characteristic of the real estate market in Wilmington and Newark. Remember that our area of the country has its own real estate identity— if you have questions, just ask. The best thing you can do is chat with someone who has the knowledge of the area and the market.

Are you ready to take a look at the area homes for sale and begin the process of buying Wilmington, DE real estate? Let me help you decide which type of property best fits your needs for homeownership. Together we will work to find the best home for both you and your family. You can also learn more about the buying process at our FREE First Time Homebuyer Seminars! 

As always, feel welcome to Contact Me for more information about Homes for Sale in Wilmington and Newark. I am here to help you with your homeownership goals!

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 

The local Wilmington DE real estate market saw an improvement in 2013, with housing prices improving, more homeowners gaining positive equity in their homes, and builder confidence on the up and up. Forbes recently released a list of predictions for the coming year and as it turns out, 2014 will be another great year for real estate in the Wilmington and Newark DE area. 

More Inventory
2013's housing market saw a shortage of homes for sale in Wilmington and going forward, homebuyers will see a change in inventory numbers. According to Realtor.com, inventory has been softening since February and will continue to do so in 2014. "New construction and rising prices should bring more homes, both new and old, on to the market in 2014, helping inventory return to traditional levels," the industry insider reported.

Mortgage Rates Will Increase
Mortgage rates have been seen rising in Wilmington real estate and will continue to increase. In fact, by the end of 2014, mortgage rates will be hovering around the 5 percent range— but homebuyers should note, rates near 5 percent are still relatively low. In Forbes' list of housing predictions, a prediction is included from Zillow which suggests "rates will hit 5% by the end of 2014–well up from the 4′s and 3′s of late, but still well within normal levels." 

Home Prices Will Rise
In 2014, real estate insiders Redfin and Zillow are predicting home prices will rise somewhere between 3 and 5 percent. This is a similar increase to what Wilmington homebuyers saw in 2013 where prices jumped 5 percent and in some hotspot areas in the country, more than 20 percent. This coming year, with mortgage rates increasing and more expensive home prices, the rate at which these prices climb will begin to slow and stabilize in local housing markets. This is also driven by more homeowners moving out of the underwater status in their homes and more new construction powered by builder confidence in the area.

Fewer Homeowners Will be Underwater
Again, more homeowners are regaining positive equity in their homes and this trend is set to continue through 2014. According to Realtor.com, "rising prices helped 2.5 million homeowners with underwater mortgages regain positive equity status during the second quarter of 2013," and while millions of homeowners are still underwater in their homes, that number will shrink significantly in 2014.

Ready to take advantage of the seller's market and sell your Wilmington home? Let us help you with your selling options and move closer to purchasing your next home— we even offer FREE first-time homebuyer seminars! 

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