Kat Geralis Home Team Wilmington DE Real Estate News Archives

Summer is an exciting time in local real estate— the conditions are ideal for moving, homebuyers are feeling motivated and home sellers are ready for a change of scenery. However, despite the market statistics on rising mortgage rates and housing prices, there are still a few buyers on the fence.

If you find yourself wondering if now is the right time to buy in Wilmington, consider these top 5 reasons to own a home:

Paying rent is not the best investment
If you're currently renting, ask yourself where your money is going every month. When you rent a home in Delaware, you are paying down your landlord's mortgage, not your own. When you own a home, you are paying down your own mortgage and putting your money into a much more solid investment.

It motivates you to get involved
Owning a home can be a great boost of community pride for Wilmington, DE residents. It motivates you to get out and get involved in local events, neighborhood issues and upkeep. Homeownership can help you to feel like you're coming back to a place that is truly your own.

You need more space
When deciding whether to purchase a home in Wilmington or Newark, ask yourself if you have enough room in your current home. Do you have enough storage space? Is your family growing? Could you use an extra bedroom? If you answered yes to the last two questions, then it may be time for you to move. Homeownership allows you to choose a new home that fits your needs, especially in terms of extra space.

The financial opportunity
Right now is an exciting time in the local real estate market as mortgage rates are still considered "low" but slowly rising— it's a time where potential buyers can make a move without feeling the financial strain or without feeling like they've been "priced out" of the market. Real estate is very much about timing and if you've been on the fence, the time is now!

Your family needs
If your family is growing, school districts are something to take into account. Purchasing a home allows you to choose the best district and put down some roots— many homebuyers today are willing to move for the schools, so consider your family's needs when making your decision.

Whether you decide to purchase a new construction home or an existing home, the KG Home Team can help you! We will act as your buyer's agent in cases of new construction, as well as answer all of your questions about first-time homebuying! We even offer FREE first-time homebuyer seminars!

Image via Keeping Current Matters

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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The blues are coming back to the Wilmington waterfront! The Riverfront Blues Festival is set to return to Tubman-Garrett Riverfront Park next weekend. 

According to Delaware Today Magazine, the 3-day music festival weekend planned for this August 1 through the 3rd is the "rockin'est weekend of the year!" Rain or shine, the event is held outdoors on two stages and features some of the best blues musicians around. 

In the past, the Riverfront Blues Festival has included free harmonica lessons and free sessions with guitarist Gary Cogdell, as well as a free children's craft tent and refreshing misting tent available in the park to cool attendees during those dog days of summer. This year's event is expected to be just as successful, with the talents of treasured blues musicians Marcia Ball, James Harman and Tommy Castro gracing the Blues Festival's stages. 

Wilmington residents and visitors alike can also expect to find the following musicians on this year's Blues Festival main stage:

Friday, August 1: 
5 PM— Popa Chubby
6:45 PM— Southern Hospitality featuring the Damon Fowler Band & Victor Wainwright and the Wild Roots
8:30 PM— Tommy Castro & the Painkillers

Saturday, August 2:
Noon— Jimmy Pritchard Big Band
1:30 PM— Curley Taylor & Zydeco Trouble
3:15 PM— Carolyn Wonderland
5 PM— Paul Oscher
​6:45 PM— Kinsey Report
8:30 PM— James Harman's Bamboo Porch Revue

Sunday, August 3:
12:30 PM— Jarekus Singleton
2:30 PM— Wayne Baker Brooks Band
4:30 PM— Marcia Ball

Single day passes for the event range from $25 (online)/$35 at the gate on Friday and $30 (online)/$35 at the gate on Saturday and Sunday. Three-day Riverfront Blues Festival weekend passes can be purchased online for $75.

The Kat Geralis Home Team is happy to provide recommendations for enjoying the Wilmington and Newark, DE area, from local events to Wilmington real estate resources. If you're ready to call this great community home and relocate to Delaware, contact us today!

Ready to sell your current home and move to a new property in the area? We'd love to hear from you!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty

Wilmington Real Estate
Wilmington Homes for Sale
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When shopping for a new home in Wilmington or Newark DE, homebuyers will likely browse a mix of existing and new construction properties. Your real estate agent is there to help with every step along the way, with every milestone of your homebuying journey— but what if you choose new construction? Many homebuyers make the mistake of purchasing the home directly from the builder, foregoing the agent entirely. There are many benefits to using a buyer's agent when purchasing new construction, so don't hesitate to reach out to the Kat Geralis Home Team for help this summer!

Your Buyer's Agent Works for You
When you work with a buyer's agent in buying a new construction home, you can be certain they are working with your best interests in mind. When you buy directly from the builder, this is not the case. The salesman of the properties is looking out for the best interests of his own company, not necessarily for yours as the buyer. A buyer's agent is all yours— available to help you find the best home in Wilmington or Newark and at the best price. 

Your Buyer's Agent Has Experience
No matter if you're purchasing an existing home or new construction, you'll want an agent with experience and knowledge of the area. Your buyer's agent makes it their main priority to stay educated on the current market trends and available properties. The KG Home Team is an expert resource for real estate in Wilmington and Newark and comes packaged with years of experience to aid in your home purchase.

Your Buyer's Agent Helps You Save
Having decided to purchase a new construction home, be aware that this is likely one of the biggest purchases you'll ever make, so let your buyer's agent work to save you money. Your buyer's agent has the experience and knowledge of the area that will help you find the best deal— knowledge that a builder or their salesperson may not have. Your buyer's agent will ensure you are not overpaying for a home by researching comparable sales and properties. Finally, they've been through this before! Your buyer's agent knows the secrets of purchasing new construction and the in's and out's of working with a builder.

Your Buyer's Agent Negotiates
As a homebuyer, you don't want to have to be the negotiator. Your buyer's agent does this for you! Regardless of what the builder says about negotiating on price or other features, your agent knows there is always room. The buyers agent has mastered the art of negotiating and this can help you save thousands in the grand scheme of buying a new home.

Are you thinking of purchasing a new construction home this summer? Let the KG Home Team work on your behalf! We'll do the research and the negotiating so you don't have to— we're here to help! Contact us today.

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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If you're a first-time homebuyer, the necessary steps to purchase a home in Wilmington or Newark may not be entirely familiar. Before you become a homeowner, there are a few financial decisions you should make to help ensure your success of getting a mortgage and affording your first home. For instance, creating a budget and trimming the excess expenses. Here are a few to-do's to take on this summer, future homebuyers— you'll be happy you did when the time comes to close on your dream home.

Start Saving
Saving for your future home should be on every Wilmington homebuyer's mind, especially if you plan to include a significant down payment. As a homebuyer, you should first take care of any debts owed and improving your credit score before you take on building your homeowner's fund. However, if you've already completed these financial tasks, try to build up your savings to cover at least six months of living expenses. Homeowners are often faced with unexpected costs, like a water heater that needs repairing. This savings will come in handy as you transition into your new role and assume the added responsibility that comes with your home.

Steady Your Income
Potential homebuyers should be sure they have a steady income before buying a home in Wilmington or Newark. Use a mortgage calculator to factor in your income to homeowner's expenses, including utilities, taxes and insurance. If the numbers don't fit in your comfort zone just yet, keep saving and bolstering your income. A mortgage is a long-term financial commitment and you should only purchase Wilmington real estate when you're certain your financial situation will allow for the payments.

Improve Your Credit Score
As I mentioned above, paying your debts and improving your credit score is an important task to complete before purchasing a home in Delaware. When you apply for a mortgage, a lender will examine both your income and credit score. Research your score before you apply for a mortgage as this is a major factor in deterring your rate and whether or not you even qualify.

Stick to Your Budget
Have you created a budget? Go over your finances and determine where your money goes each month— write down each amount and create categories for purchases and expenses. Next, come up with a budget that allows you to trim the financial excess and try sticking to it for a few months. If you can comfortably follow a budget, it may be a sign you're ready to buy a home.

Buying a home in Wilmington or Newark is a big step, especially if this is your first-time purchasing Delaware real estate. The Kat Geralis Home Team can help you with preparations and provide information on the current market where you live. Contact us today to get started on your journey to becoming a homeowner in Wilmington or Newark!

And remember, we also offer FREE first-time homebuyer seminars to help!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
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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
Visit My Website
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More homebuyers will be looking to the Wilmington real estate market this spring and summer. As a home seller, you would do well to highlight your Delaware home's best features. In many cases, staging can make all the difference! Some popular features a Wilmington DE homebuyer looks for are the number of bedrooms and bathrooms, storage space, and updated appliance, but they will be looking to see themselves in the home. Your home's overall flow, neutrality and ability to help the buyer feel comfortable are important— and much of this can be achieved by you, the home seller, with home staging. Below are a few staging tips to help you attract more homebuyers to the property:

Update the Spaces
It doesn't take much money to update the rooms in your Wilmington and Newark homes. For instance, a new coat of paint and shiny, upgraded hardware can all be done in a weekend, but really give the spaces a fresh, welcoming feel. To begin, make a great first impression and give your front door a fresh coat of paint. This little detail can help the potential buyer feel invited inside and give them a sunny outlook on the home overall.

Let There Be Light
Bright, airy homes are a must for many homebuyers in today's real estate market. And as a seller, you can add this factor yourself in your homes in Newark and Wilmington DE with updated light fixtures. But if adding in new or additional lighting is not an option in your home, simply swapping out low wattage light bulbs for high wattage bulbs can bring up the lighting factor with little effort. If you notice that updated light fixtures is one area where your home is lacking, replacing these is a great investment and can add charm to your home.

Bathroom/Kitchen Updates
Do you find that your kitchen is one of the areas of your home you spend the most time in? Homebuyers will notice that too! These are two areas where you'll want to focus your staging. You don't need a complete remodel, but updating appliances and fixtures here can peak homebuyer interest. At the very least, replacing the caulk and grout in these rooms is always a nice idea.

Curb Appeal
Again, first impression are everything when it comes to Wilmington, DE real estate. Take some time to amp up your landscaping, clean up the yard, replace railings and old outdoor hardware, make sure windows are clean and functioning— overall, take note that your home looks inviting from outside. Many homebuyers will begin their search online and if your home shows well in photos, it can bring them to your door!

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

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

These stats should be helpful for those looking to purchase Wilmington homes for sale or Newark, DE real estate this year! Ready to begin your Wilmington, DE home search? Let us 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