Kat Geralis Home Team Wilmington DE Real Estate News Archives

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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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
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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

Want to learn more about the Wilmington and Newark real estate market? 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!

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

Finding the perfect home in Wilmington DE can be challenging— especially if you have an extensive home feature wish list. Have you been searching for homes for sale in Wilmington DE or Newark DE? Let us help you with your homebuyer questions and make the right decision in purchasing Wilmington real estate. Below are a few homes for sale in Wilmington and Newark— take a look and contact us with any questions or to view more properties in the Wilmington/Newark real estate market. We even offer FREE first-time homebuyer seminars!

1402 Clinton St
Wilmington DE 
4 bedrooms | 3 bathrooms | 1 half bath
3125 square ft.

Price: $600,000

SUPER! City-Chic home loaded with updates & close to Rockford Park! Newer construction, contemporary floor plan w/over 3000 SF. Dramatic 2-story entry with turned staircase lead to formal Living Dining rm. Bright space w/tall designer windows, Hardwood floors throughout, track & recessed accent lighting. Spectacular Gourmet kitchen with upgraded cabinets, quartz counters, oversized island with 5-burner Dacor cooktop & breakfast bar, Dacor wall ovens; informal dining area with slider to lovely screened porch overlooking backyd landscaping & fenced yard. Adjoining cozy family room with woodburning fireplace. 

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402 Saint Regis Dr
Newark DE 
4 bedrooms | 2 bathrooms | 1 half bath
2300 square ft.

Price: $315,000

PRICE REDUCED! Come see this BEST BUY in Chapel Woods! Colonial style home w/Contemporary design, situated on a private lot. Enter into the 2-story Foyer w/vaulted ceilings. Formal Living & Dining rooms feature NEW hardwood floors. Tastefully decorated w/neutral colors, abundantly bright and open floor plan. Kitchen features large breakfast room w/ NEW wrap around counter space and large pantry. Newer appliances include smoothtop range, dishwasher and microwave. Relax on the large, rear deck overlooking tall, mature trees and fully fenced yard. 

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2 Michael Townsend Ct
Newark DE
4 bedrooms | 2 bathrooms | 1 half bath
2775 square ft.

Price: $399,900

Price REDUCED 20k! MASTERPEICE HOME located in the sought after Preserve at Lafayette! This gorgeous brick colonial features a dramatic 2-story foyer,9' ceilings and many special upgrades throughout. The open floor plan is perfect for entertaining. You will be captivated by cathedral ceilings, beautiful hardwood flooring, crown molding and chair rail that accentuate the home. The gourmet kitchen boasts upgraded 42" cabinetry, center island, Stainless appliances and Corian countertops. A separate family room with gas fireplace and a home office are added bonuses.

View Property

Want to see more properties like these? 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!

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

If you are a first-time home buyer, you might be anxious to get in on a good deal for a Wilmington or Newark home. Prices are reasonable, mortgage rates are low, and the homes you see on the market today could be sold tomorrow. Naturally, there is some sense of urgency. You have competition from investors and other home buyers. You might find yourself tempted to limit, or even omit, contingencies from your purchase offer, in the hopes of getting it accepted by the seller. 

The danger in this notion is the fact that a purchase offer is a legal contract. Your contingencies allow you to cancel the offer if certain stipulations are not met. Without contingencies, you have no legal escape from the deal. You could end up on the hook for failing to go through with the purchase, even if the circumstances were beyond your control. It pays to understand contingencies!

Here are the most common home buyer contingencies included in a purchase offer:

1. Financing contingencies. This states that your purchase is conditional upon obtaining a mortgage at suitable terms. You can be specific and identify the mortgage terms that you need. Even if you are pre-approved for your mortgage, it's wise to have a financing contingency, in case something falls through for an unforseen reason prior to closing.

2. Appraisal contingencies. Your mortgage lender will require that the home has sufficient collateral value to cover the mortgage in case of default. If the appraisal falls short of the sale price, your contingency allows you to exit the deal. Otherwise, you could be expected to cover the difference, in cash, between what the bank is willing to lend you, and the sale price of the home.

3. Home inspection contingencies. This allows you to have a third party inspect the home and check for any signs of obvious defects. While sellers are expected to disclose any known issues with the home, there are things that may escape their notice, or their memory. If any significant, undisclosed issues are found by the inspection, the contingency allows you to cancel the deal, or at least negotiate the needed repairs with the seller.

These are very basic examples, and there are a host of contingencies you may wish to use depending on the situation. You may have a contingency that says the deal is subject to the approval of your financial planner, or your attorney. You could have a contingency that is subject to the homeowner association allowing you to have an above-ground pool. Or a contingency subject to the town allowing you to operate a business out of the home. You don't want to go bananas with contingecies, but any key points affecting your ability and desire to purchase the home should be covered.

As your Wilmington and Newark real estate expert, I will guide you through using contingencies and help you write an offer that protects your interests!

There is a lot to know when it comes to home buying! Fortunately, good information is available, and it's free! Attend a free home-buying seminar and learn about home buying in a pressure-free environment. The next one is in Newark on May 11! See the Registration Page for a list of upcoming dates and locations.

Contact me for friendly, knowledgeable help with your home buying questions!

 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   

If you are a first-time home buyer, you may already be leaning towards an FHA-backed mortgage to finance your Wilmington or Newark home. Recently, the Federal Housing Administration announced changes to their mortgage guidelines, which are being made to stem the losses from sour loans.

In case you are not familiar with it, the FHA is a government entity that insures mortgage loans made by banks and other front-line lenders.

Without the FHA, home buying would be tough for buyers who cannot meet high down payment and credit score requirements. After the collapse of subprime lending and the tightening of credit, FHA-backed mortgages became the only game in town for many first-time home buyers.

FHA guidelines are also more forgiving when it comes to credit history, making it the only practical option for home buyers who had a prior bankruptcy, foreclosure, or short sale in the past few years. For these reasons it's a good idea to understand the FHA role in our housing market!

Here are the 4 FHA rule changes slated for 2013, and how they may affect you:

1. FHA loans require the borrowers to pay for mortgage insurance. This insurance protects the lender in the event you default on the loan. It used to be that you could get the monthly mortgage insurance premium waived after you achieved a certain amount of equity. This is no longer the case; effective in 2013, the mortgage premium will be on your mortgage payments for the life of the loan.

2. The cost of monthly mortgage premiums will go up by .10 basis points. This is a relatively small amount; it would add an extra $20 a month to a $200,000 mortgage. Keep in mind that this is only the increase effective in 2013, and not the entire premium.

3. For large mortgages, the FHA will require higher down payments beginning in 2013. The minimum down payment for a $625,500 mortgage will be 5%. This is an increase from the prior minimum of 3.5%.

4. Those who have credit scores in the 580-620 range will face stricter debt-to-income ratios in 2013. In other words, the less debt you have, the better.

The good news is, these changes shouldn't derail anyone's plans to buy a Delaware home. Even with the new changes in 2013, FHA-backed mortgages remain attractive.

Need more information about buying a Wilmington or Newark home? As your experienced real estate professional I'm here to help you! I can also refer you to FREE home buying seminars and help you find the best home for the right price.

Contact me for neighborhood price trends, recent sales, and expert guidance in our fast-changing real estate market.

Newark's college-town charm will be on full display during the University of Delaware Homecoming Week, October 15 through 21! UD Homecoming is a proud tradition, giving alumni the opportunity of relive memories, reunite with friends, and enjoy the best in college football with the Fightin' Blue Hens. Here's just a few of the highlights:

Kick things off Friday, October 19, with "Blue Hens on Main!" The party starts at the Trabant University Center, then travels to favorite haunts on Main Street, and eventually returns to the Center for a late-night breakfast buffet. Bus service will be available. Only $15 per person, registration required.

The big game is Saturday, October 20, when the Fightin' Blue Hens take on Rhode Island at the Delaware Stadium! Alumni can opt for the Homecoming Alumni Social Package, and general admission is available to the public. Go Blue Hens!

After the game, change things up with classical music! A violin and piano recital featuring the talented Xiang Gao will take you through masterpieces written by Bach, Beethoven and Brahms. The public is welcome; general admission is $25.

There's more happening throughout Homecoming Week than what can be listed here, so visit the University of Delaware Homecoming pages for the complete schedule of events!

Being UD alumni myself, I look forward to Homecoming Week. And as your real estate professional, "homecomings" are my specialty! If you are looking to buy a home in Newark, I can give you the home field advantage!

Contact me for neighborhood price trends, recent sales, and expert guidance in today's fast-changing 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
Follow me on Twitter