Kat Geralis Home Team Wilmington DE Real Estate News Archives

When shopping for homes in Delaware and Pennsylvania, there are dozens of features to look over and factors to consider. For instance, how many bedrooms does the property have? What does the yard look like? How close is the home to your workplace? What are the school districts like? All of these questions, while important, can cause your mind to fog over and you to forget to inspect some of the following real estate red flags. 

Sure, the home inspection is in place to help you identify problems with a potential property in Wilmington, Newark, Chester County or Delaware County, but why wait until then to start looking? Below are five home problems you can spot before you move forward with the homebuying process.

Backwards insulation
As you tour a Greater Wilmington area home, take note of the insulation in the attic (if the property has one). Is the foil side of the insulation facing up below your feet? If so, it may have been ruined by moisture coming up. The foil side of insulation—or the vapor barrier—should be facing the main rooms of the home, not the attic. On the flip side, if the foil side is facing you on the ceiling, that is nothing to worry about.

Varying pipe styles
In the basement, you may notice pipes running in and out of the property. You can also find these elsewhere in the home, like under the sink or in the kitchen. If you happen to find multiple styles of piping, it doesn't always mean an issue is present, but likely the past owners replaced sections piece by piece. This is one area to ask your inspector about if varying styles are indeed present.

Slow drains
You've probably been advised to flush toilets and run all faucets when touring homes in Wilmington, Newark and beyond— and for good reason. Slow drainage can signal a larger issue with the plumbing of the home, either with clogged drains, poor installation or worse, a sewer line problem. 

Fewer vents
When outside, you should notice one vent pipe that lines up with the kitchen and one for each bathroom. Any fewer vents to the outdoors could mean an area isn't vented correctly and a larger expense down the road. You'll also want to make sure the vent does not end in the attic which can mean moisture build-up issues.

Bubbling walls or ceilings
Does it look like the paint is bubbling or the ceiling seems to sag in one spot? Beware! While it could simply mean the paint is old and chipping away, it could also point to water damage. On the ceiling, it may be from damaged roof tiles which could be a significant cost to a new homeowner. Consult your inspector if you identify these red flags.

Not sure if a home is the right one for you in Delaware or Pennsylvania? Give the Kat Geralis Home Team a call today! We can help you identify the best location, size and price for your next home in the area!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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It is not uncommon for first-time homebuyers, or even seasoned Delaware and Pennsylvania buyers, to become frustrated in their home search. Perhaps you're having a hard time finding exactly what you want in a property or are finding that you're missing out on properties that hit the market and are quickly sold. What is a buyer to do? Adjust your search!

The Kat Geralis Home Team has helped numerous buyers through their search and ultimately land upon their dream home in Wilmington, Newark, Chester County and Delaware County PA. Below are five ways in which you may need to adjust your home search if you start to find the process challenging.

Reconsider the neighborhood
If you've been looking in the same neighborhood for some time, but are not having luck finding the perfect home in your price range, it's unlikely that it will pop up in the near future. Or if it does, you may face serious competition among other buyers. It may be worth expanding your home search to other select neighborhoods to see if an ideal property is available. 

Reconsider doing work to the home
Many buyers today are looking for turn-key homes that require minimal work. However, it may be the case that your price range does not allow for a newly-renovated home. Be open to looking at homes that require a little TLC. You may find that a fresh coat of paint, new flooring or even new appliances can make a world of difference. 

Reconsider your timeline
With low mortgage rates, buyers may be feeling pressure to move up their home purchasing timeline. But don't be too quick to make a move on a home you aren't completely in love with or one that doesn't exactly meet your needs. If you don't feel like things are going well in your search, it may be worth saving for another year and then buying. 

Get creative with financing
Oftentimes it's the down payment that is holding Wilmington DE buyers back from their ideal home or target price point. Consider getting creative with the financing options available to you— perhaps down payment assistance, special loan services from your lender or even gifted funds from a family member. If you find the perfect home, but are just a small percentage of a down payment away, it is worth exploring.

Discuss compromise
Throughout the homebuying process, it is common for couples to disagree on what they want in a home. One person may want a large yard, while the other finds an updated kitchen a necessity. If you are unable to find a home that meets both of your requirements, you may want to have a conversation and discuss what you are willing to compromise on in order to find the best fit.

If you feel your home search is not leading you to your dream home in Delaware or Pennsylvania, do not hesitate to contact the Kat Geralis Home Team! We are here to help you find the best property for your wants and needs!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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Today's real estate market conditions including low inventory, rising home prices and low mortgage rates have many Greater Wilmington DE residents wondering if now is the time to buy. You may even be swayed by the assumption that spring and summer are the best times to make a move— but before you make the decision to stay put until warmer weather rolls back around, the Kat Geralis Home Team has a few reasons why you might like to move up your buying timeline.

Prices are lower in the fall
According to a price analysis survey, taking into account millions of home sales over the last 15 years, October is the best month to find a deal on a home! Homebuyers who purchased properties during this time of year were reported to have paid 3 percent less than market value, which can translate to well over $5,000 in savings! Don't assume that spring and summer are the only times to find the right home for you in Greater Wilmington and the Brandywine Valley! 

You have less competition
Just as you may have assumed that the warmer months are the best times of year to make a real estate move, many others are right with you. As a result, you will have much less competition when shopping for a home during the fall! There may not be many properties to choose from, but with buyers holding tight until the new year, you have many opportunities to score a deal!

The holidays are coming up
October is already here and the holidays are just around the corner! Buyers all over Delaware and Pennsylvania will want to settle into a new property before the family gatherings and events pick up steam. On the opposite side, sellers would like to do exactly the same! Especially if the seller has had their home listed since summer, they may be increasingly motivated to move out in time to host Thanksgiving in their new place.

The tax credit
If you purchase a home before the end of the year, you are still eligible to claim the tax credit on your next return. New homeowners will be able to take deductions like closing costs, mortgage interest and even property tax!

Fall is a great time of year to purchase a home in Wilmington and Newark DE and Chester County and Delaware County PA. It's even being called one of the best due to its lower prices, decreased competition and proximity to the holidays! Give the Kat Geralis Home Team a call today for more information about buying a home in Delaware or Pennsylvania this fall!

We're here to help!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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Fall is a great time to become a homeowner in Wilmington DE and the Brandywine Valley! Not only is a new season just beginning, but you have the opportunity to secure a low interest rate and settle into a home before the cold weather arrives.

But what if you're currently a renter in the Greater Wilmington, Chester County or Delaware County PA area? Don't worry! The Kat Geralis Home Team has provided a few ways below that you can prepare to take advantage of this exciting time in the local real estate market.

Research all of the costs
There are more costs involved with owning a home than just your monthly mortgage payment. For first time buyers, this may come as a surprise, but with the proper amount of research, you will be able to determine exactly how much you can afford in a home. Costs like property taxes, homeowners insurance, private mortgage insurance (PMI), homeowners association fees and yearly upkeep should all be considered while you begin to search for homes in the Wilmington area.

The costs of renting vs. buying
You've likely asked yourself this question many times before deciding to buy a home— Is buying really better than renting? You will need to look at the cost of homeownership after the tax benefit to compare it with the cost of renting. For instance, a $300,000 home may cost you around $1,200 per month after taxes. Compare this with a home that rents for $1,200 and look at factors like location and size. Also, remember that this scenario includes a 20 percent down payment.

Research the tax benefit
Did you know mortgage interest and property taxes are deductible on your annual tax return? This will reduce your taxable income and bring down the overall cost of homeownership.

Prepare your credit score
Lenders will use your credit score to determine your eligibility for a mortgage and certain mortgage loan types. Start well in advance to groom your credit score— correcting any errors you find and boosting your score by paying down debts and reducing spending on credit cards.

Start to shop for a mortgage
If you haven't already started looking into mortgage programs, now is the time. There are many different types of mortgages available, depending on your eligibility. For instance, certain loans allow for lower down payments, although come with a higher interest rate, while others require a higher down payment while granting a lower interest rate. Before you are ready to buy, know which type of loan you think may suit you best.

The Kat Geralis Home Team can provide you with a list of available properties in Wilmington DE and the Brandywine Valley, as well as answer all of your home buying questions! We have helped many first-time buyers find their dream homes, so give us a call today!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
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Buying a home in Greater Wilmington, Chester County and Delaware County PA can be both an exciting and overwhelming process. In fact, it's easy for buyers to get so caught up in the commotion of finding the perfect property, applying for a mortgage and securing a loan that they forget to ask their real estate agent important questions.

As your local real estate experts in Delaware and Pennsylvania, the Kat Geralis Home Team has provided five essential questions to ask your agent before buying a home— a few you may be inclined to overlook in all of the home buying hustle!

Has the home had any upgrades, major renovations or additions?
If the sellers of a home in Wilmington, Newark or the surrounding areas have made any major changes, you will want to know what they did and how much it cost them. Why? This gives you a sense of how much money they have invested into the property and how much they intend to get out of it in the sale. And before you begin to stress about having to match what they spent on the upgrades, keep in mind that return on investment varies by which renovation or upgrade was made.

What is the home's history?
Before you purchase a home, you will want to research its sales history. Find out the last time the home sold and how much it sold for in order to get an idea of what the sellers may expect a buyer to pay. However, it's also key to remember that home values are based on comparable properties and the current market which could be quite different depending on the last time the property was for sale.

How old are the major features?
Home features like the roof, furnace, A/C, plumbing and electrical are all crucial to research prior to signing on the dotted line for a home. These can all be quite costly to fix should any problems arise, so you will want to know their age and if they've been repaired or replaced recently.

What are the property taxes?
The property taxes of a home in Greater Wilmington DE, Chester County and Delaware County PA can make a big impact on your mortgage payment— so budget accordingly! Take into account what the sellers paid, but also remember that these are based on the value of the home which could be affected by your ultimate purchase price.

How much are the monthly maintenance fees?
If you're looking into buying a townhouse, condominium or single-family home in a homeowners association, take the time to research their monthly fees. You can also ask the sellers in advance what the average utility bills look like in order to factor them into your budget.

Wondering what else you're forgetting to ask when house-hunting in Delaware and Pennsylvania? Give the Kat Geralis Home Team a call! We will ensure all of your questions are met and you are prepared with all of the necessary information to avoid any later hiccups in the homebuying process.

We look forward to hearing from you!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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No matter where you live—Greater Wilmington, Chester County or Delaware County PA—summer is often a busy time to move to a new home. The weather is ideal, mortgage rates are still low, the kids are out of school and you can settle into your new property before the fall season starts. 

However, with moving also comes waves of excitement and nerves that can cause you to forget a few things along the way (more than just an extra box or two!). You can count on the Kat Geralis Home Team to make sure your moving process is as stress-free as possible— take the following five steps into consideration as you plan out your move to a new home in Wilmington or Newark DE or Southeastern PA this summer:

Clean the carpets
You never know what kind of dust, dirt or pet dander has accumulated in your new home's carpets over the years, so take the time to clean them thoroughly. You can rent a steam cleaner and do the work yourself or hire a professional and pay around $50 per room. It's worth it to know you're starting fresh in your new space!

Change locks and label keys
Can you imagine how many people have been given a key to your home over the years? Friends and neighbors are just a few! You will want to change the locks as quickly as you can once you've moved into your new home— either installing the new bolts yourself relatively inexpensively or hiring a locksmith who will charge you labor per lock. 

Clean out your cabinets
Depending on how long the previous homeowner lived in the house, you may find residue from cleaning products, food, and even evidence of critters. You will want to do this prior to putting any of your belongings in the cabinets as if there is an animal that has taken up residence in your home, you'll want to remedy the situation as soon as possible.

Find the main water shut-off
Should you ever go out of town for a long period of time or need to turn off the water due to a leak or repair of any kind, you'll need to know where your main water shut-off valve is. If your home inspector hasn't already pointed it out and labeled it for you, take the time to do so yourself and avoid the headache later.

Find the circuit breakers
During a power outage or in the case of replacing light fixtures or bulbs, you will need to flip the circuit breakers to specific rooms and outlets. Find your circuit breakers as soon as possible once you have the keys to your new home and make sure each breaker works properly. Have a partner stand in various areas of your home while you flip the labeled breakers to double check that is indeed the room they belong to— if not, re-label them for future reference.

There is a lot to remember when it comes to moving into a new home in Greater Wilmington, Chester County or Delaware County PA, but with the Kat Geralis Home Team on your side, you can rest easy! Give us a call today for more information on available homes in the area, selling your current property or purchasing a new 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

For those gearing up to buy a home in Greater Wilmington or Southeastern Pennsylvania, the down payment may be the one factor that's slowing down your momentum. However, the days of 20 percent down or no deal are gone! Homebuyers today can purchase a home with as little as 3 to 5 percent down— cutting down on the time it will take to save.

But if you're still worried about how you can possibly save enough to buy your dream home in Wilmington or Newark, Chester County or Delaware County PA, the KG Home Team has provided a few ideas! Consider the following four ways you can save for a down payment this year:

Cut out your daily coffee trip
Do you make a trip to the coffee shop every day before work? Or do you rely on a coffee pick-me-up in the afternoons? Simply cutting out this seemingly inexpensive habit can have a big impact on your down payment savings. With the average price of a latte around $3.50 and paying for coffee every work day, you are spending almost $1,000 a year!

Why not take the amount you would spend and open a down payment savings? At the end of the year, you could be well on your way to purchasing a home!

Cut out your gym membership
While you're saving for a home in Delaware or Pennsylvania, you might like to consider cutting out your expensive gym membership. There are always ways you can keep up on your fitness outside of the gym as you're preparing to become a homeowner! For example, with the average cost of a gym membership around $50 per month, you could save around $600 toward your next home!

Cut your cable package
One of the priciest monthly expenses you may have is your cable package. The average monthly cable bill can total $100, which means you could be spending close to $1,200 alone on TV! Think of what that amount could add to your down payment savings!

Cut your daily lunch expense
If every day around lunch time has you heading to a nearby restaurant or take-out spot with co-workers, you might want to think twice. Spending an average of $11 per day on lunch, 5 days per week, adds up to $2,860 per year! 

Adding each of these together, you could have a down payment quicker than you thought and be ready to purchase a home as early as next year or even the next few months! Do not hesitate to give the ​KG Home Team a call with any questions you have about buying a home in the Wilmington or Newark areas, Chester County or Delaware County PA!

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 we are all eagerly awaiting the start of summer in Greater Wilmington and Southeastern Pennsylvania, now is the time to finally consider moving up to your dream home. The current market conditions have created the perfect environment for DE and PA buyers to make a move, especially as they are not expected to last for the rest of the year.

If you've been thinking about buying a larger home this year, here are three reasons to consider moving up now instead of waiting:

Prices will continue to rise
You may have noticed around Wilmington, Newark, Chester County and Delaware County that home prices are on the rise— and they are not expected to slow down any time soon. According to a new report, home values are predicted to appreciate by 5.3 percent just one year from now. If you have a home to sell in Delaware or Pennsylvania, now is the time to list or you could risk pricing yourself out of your potential dream home.

Mortgage rates are at historic lows
To the benefit of DE and PA buyers, mortgage rates—now hovering below 4 percent—have not been this low in years. It is important to keep in mind that any rise in rates will have an impact on your future mortgage payment and therefore, it is better to act while they are still at historic lows. In fact, Fannie Mae, Freddie Mac, the National Association of Realtors and Mortgage Bankers Association are predicting a rate hike over the next year, so don't wait!

Inventory is low, but traffic is high
Housing inventory is much lower than it has been in the past, but that does not mean there is any shortage of buyers in Greater Wilmington and Southeastern Pennsylvania. Buyer demand is said to be at its highest peak in years, with the number of home sales in March (sold in under 30 days) higher than any month since last July. Listing your home now to move up to your dream home could allow you to sell quickly and settle into your new property before you know it.

The KG Home Team is consistently ranked one of the top Realtors in the state and we are here to put our experience to work for you! Contact us today to discuss selling your current home and available properties in Delaware and Pennsylvania.

We look forward to hearing from you!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

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

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

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

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

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

Our top-notch agents are here to help with any of your needs this year, from finding your dream home in Delaware or Pennsylvania to selling your current property! We look forward to hearing from you!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

Homebuyers in today's real estate market may have fewer properties to choose from than they have in the past, but they do have two important choices— existing home or new construction. Existing, as you may have guessed, are lived-in homes while new construction offers the option to be the first owner, occupant and at times, choose your own fixtures and features.

New construction homes are growing increasingly more appealing to buyers in Greater Wilmington and Southeastern Pennsylvania, but many do not know the first place to start. As your local real estate expert in Wilmington and Newark DE, Chester County and Delaware County PA, I am sharing three things to keep in mind if you're considering a brand-new home this year:

1. New construction homes are not always listed
Finding homes for sale in Delaware and Pennsylvania can be done easily online, but know that new construction properties are not always listed in the MLS. If you are interested in a new home, it is best to work with your real estate agent to gather all possible options that may not be present via a home search.

2. Builders do not have an attachment to the properties
A home seller in an existing property often has lived there for many years and has dozens of memories tied to the place. As a result, you may find that the home price is too high or other questions or issues come up when working with the owner, simply because they are not ready to let it go or are having a hard time doing so. 

With new construction homes, there is no emotional attachment to the property. In fact, your financial situation and negotiations on behalf of your agent are all that the builder (or sales rep) will focus on when selling.

3. Discounts may be available
Your real estate agent will know how—and if— you can negotiate discounts when purchasing a new construction home in Wilmington or Newark DE, Chester County or Delaware County PA. For instance, discounts may be available to buyers that get into contract early on in the sales process or at the end, when upgrade packages can be worked into the deal. 

If you're interested in buying a new construction home this year, the KG Home Team is on your side! We will work on your behalf, with your best interests in mind— unlike buyers who work directly with a builder. Contact us today for more information on available properties and the current real estate market. 

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