Kat Geralis Home Team Wilmington DE Real Estate News Archives

For homebuyers in Delaware and Pennsylvania today, there are many choices associated with local real estate. From when to buy or when to sell, which mortgage type is best and which community to move into, there is also one other important question homebuyers must ask themselves— new construction or existing? 

The prices can vary dramatically and while you may prioritize having a brand-new home over a lived-in property, it's important to consider the financial differences between the two. 

New Construction Upgrades
When you visit a model home in a Delaware or Pennsylvania community, it can be easy to feel attached to all of the modern features. However, each of those upgrades comes with a price tag and it can be a hefty one at that. When you realize how much everything you want in the home will cost, older homes start to become more appealing.

More available, less expensive
Older homes in Delaware and Pennsylvania are typically less expensive than new construction and more readily available in the real estate market than newer homes, all depending on the area, of course.

Troublesome Financing
Newer homes can come with larger price tags and because of this, can be harder to finance. With stricter lending requirements (especially for self-employed buyers), homebuyers are forced to comply with traditional guidelines of down payments and debt to income ratios. If your home will be using more than 30% of your household gross income to cover living expenses (mortgage, taxes, insurance), lenders may not see that as a sound purchase.

Commute Cost and Time
Oftentimes, new construction homes are built where land is less expensive, which can mean outside of town. While living in the suburbs can cost you more in terms of commute time, it is worth a look with your real estate agent to see which older homes are closer to than new construction developments.

As your local real estate experts, the Kat Geralis Home Team can help you determine which style of home and location are best for you and your needs!

Have questions about older homes or buying a home in Delaware or Pennsylvania? The Kat Geralis Home Team is here to help!

We look forward to hearing from you!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
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When you're shopping for a new home in Delaware or Pennsylvania, you'll want to research everything from the square footage to the property taxes to, perhaps the most important, the neighborhood. But when you're in such strange times as these where you might be sheltering in place, it's key to note you don't actually have to visit the area to do your due diligence.

There are several ways to research a neighborhood in Delaware and Pennsylvania right from your own home!

Browse local social media
Use the power of social media to research a potential neighborhood when shopping for homes in Delaware and Pennsylvania. You can use apps like NextDoor, Facebook, or even dig into geo-specific hashtags or locations on Instagram, for instance, to look for activity and posts in a certain area. 

Use Google Maps
If you've ever looked up directions via Google, you'll notice Google Maps has a great feature in which you can actually zoom all the way in and virtually walk the street. Google Street View allows you to navigate around neighborhoods without even leaving your couch!

Search websites with neighborhood data
Dive into websites like Yelp, AreaVibes, and City-Data to find out more in a neighborhood, including livability scores, average home prices, and reviews on locations from local residents.

Call your real estate agent
As you know, your real estate agent is a wealth of information when it comes to buying a home— and that includes the neighborhoods in your desired area of Delaware and Pennsylvania. Ask your agent all of your burning questions! After all, they will be able to take your wants and needs and point you to the best spot for your next home!

Check crime rates
Crime rates can provide data on the safety of a specific area. Use a website like CrimeReports to look up the area's stats from local law enforcement agencies.

Ready to purchase a home in Delaware or Pennsylvania? Let the Kat Geralis Home Team be your guide!

We look forward to hearing from you!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

Buying a home in Delaware and Pennsylvania has many steps— from getting pre-approved to house hunting to beginning the mortgage process. And while finding your dream home may not be a quick and easy feat, the mortgage process can appear much scarier to some buyers. 

As your Delaware and Pennsylvania real estate experts, the Kat Geralis Home Team looks forward to simplifying the real estate process for our clients, including the process of obtaining a mortgage! Remember, your real estate agent can always recommend local finance professionals to put you at ease. 

What else do you need to know about the mortgage process? The following should help break it down and further calm your nerves about buying a home in Delaware and Pennsylvania this year.

You need: Down payment
To qualify for a mortgage in Delaware and Pennsylvania, a down payment of anywhere from 5 to 20 percent is helpful. Don't let previous assumptions about money down stop you from purchasing your dream home— depending on the type of mortgage you choose, your down payment could be as low as 3 percent!

You need: Income verification, credit history
Your lender will want to see verification of your income and your credit history to ensure you have the funds to make a monthly mortgage payment. Now is the time to put together all of your documents, keep them organized, and research your credit history to ensure there are no errors. If there are, correct them before you begin!

A stable income and good credit history will put you on the path to homebuyer success.

You need: Appraisal
The lender will need to verify the value of the home you wish to purchase in Delaware and Pennsylvania. 

You need: A real estate agent
Remember that your real estate agent has done this before— leave it to the pros! Team up with an experienced agent in Delaware and Pennsylvania who can answer any concerns or questions you have about the process. We are happy to help!

Ready to start the home buying process in Delaware or Pennsylvania? Contact the Kat Geralis Home Team today! 

We also offer a FREE Home Buyer e-Guide and FREE First Time Home Buyer Seminars!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
Visit My Website
Contact Me
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As we get closer to the official start of summer, the temperatures aren't the only thing picking up! The number of Delaware and Pennsylvania residents planning to buy a new home is rising— as it tends to do during these warmer months! As the summer continues, the local real estate markets in Delaware and Pennsylvania will see a much larger influx of homebuyers.

So now that homebuyers are flocking to local markets, how can you stand out? Grab a pen and paper and make yourself a checklist to ensure you're on the right track to buy a home in Delaware and Pennsylvania. Here are a few tips to give you that homebuyer edge over the others this year:

Clean Your Finances
After you spring clean your home this year, turn to your finances. A seller doesn't know your financial situation, so despite how confident you are in obtaining a mortgage, they might not feel the same. Oftentimes when sellers are in a rush to sell, they do not want to worry about financing potentially falling through.

To be pro-active, you can get pre-approved by your lender. The pre-approval process is extensive and involves paperwork to detail your income and assets. For both your Delaware and Pennsylvania real estate agent and the home seller, this letter of approval offers peace of mind that you're serious about buying.

Work with the Seller
Think about it— when you're competing with other buyers, the best thing you can do is to work with the seller. Be flexible! There are likely a number of buyers in Delaware and Pennsylvania real estate who are set on dates, numbers, and come packaged with contingencies.

Show that you are willing to work with the seller on the home sale puts you ahead of other buyers who may have the purchase contingent upon their own home sale. Sellers are more willing to work with buyers who don't have extra hoops to jump through.

Be Quick
Found a home in Delaware or Pennsylvania that you love? One that meets all of your wants and needs? You may want to act fast. Other homebuyers may have started the process and love the home as much as you do. Remember, sometimes an accepted offer can come down to a matter of minutes between buyers.

Let the Kat Geralis Home Team help you find your dream home this year! We have helped numerous other buyers find the perfect property to call home and we'd love to assist you in doing the same!

We even offer a FREE Home Buyer e-Guide and FREE First Time Home Buyer Seminars!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

It is by no means a secret that the moving process can be overwhelming. After all, you're on your way to settle into your dream home! It's both exciting and new and as a result, it can be easy to overlook a few key items like fees along the way.

If you're moving to a new home in Delaware or Pennsylvania this summer, it is important to keep an eye out for these extra fees that could pop up when changing homes. Even little things like disposing of packing materials can add up in charges.

Packing and Unpacking
If you don't take the time to carefully package each item or piece of furniture, you could risk damaging them in your move. However, some new homeowners just do not have the time to dedicate to this task. It's understandable, but know that it can cost you! 

Some moving companies will pack for you and even unpack when you arrive. Fees are typically calculated on an hourly basis and if you want them to dispose of the packing materials when it's all said and done, you could acquire a disposal fee as well.

Disassembling and Assembling Furniture
We all know how much time it can take to disassemble furniture and try to remember what goes where before packing it onto the moving truck. Your moving company can do this for you (they oftentimes have extra tools to make it efficient!), but for a fee. They will also reassemble the furniture in your new home for an added charge so you can jump right into unpacking.

Handling Heavy Items
If you have extremely heavy personal items like a piano, pool table, hot tub or safe, movers can charge an additional handling fee as these often require special treatment and packing. Items like appliances can be transported to your new DE or PA home and set up, but movers will also charge an appliance servicing fee.

Carrying a Distance
It may not even cross your mind, but if movers have to park more than 50 to 75 feet from the entrance of your home in Delaware or Pennsylvania, you could be required to pay an extra fee for them to take the items inside. This is called a "long carry fee" and is assessed based on the distance movers need to carry items from the truck to the entrance of the home.

Moving to a new home in Delaware and Pennsylvania is an exciting time, so don't let unexpected moving fees catch you off guard! With our experience in the local real estate market, the Kat Geralis Home Team is happy to help your home buying process run as smoothly as possible. 

We also offer a FREE Home Buyer e-Guide and FREE First Time Home Buyer Seminars!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

When it comes to homebuyer mistakes in Delaware and Pennsylvania, perhaps the biggest one is failing to shop for a mortgage. Many homebuyers simply take the first mortgage they are offered without knowing they could have secured a better loan, with lower fees and a lower rate. 

As you shop for a home in Delaware and Pennsylvania this summer, make sure you then also take the time to shop around for a mortgage. Use the following tips to ensure you're getting the best possible deal and loan for your dream home:

First, research your budget
Use a mortgage calculator to determine how much you can afford in a DE or PA home. Include all of your monthly expenses, including property taxes, monthly maintenance and utilities, insurance and any private mortgage insurance (PMI) that you may acquire. Once you've determined your budget, you can then proceed with shopping for the best rate.

Research the different types of mortgages
It's important that Delaware and Pennsylvania homebuyers know the different types of mortgages— from fixed rate mortgages to adjustable rate to those that allow payment adjustments. Each loan type will come with its own set of fees, terms, requirements and limitations. For instance, you may receive a penalty for paying off your mortgage early with some loans. Take the time to find which loan type is best for you.

Compare loans among lenders
On one specific day, gather quotes from several lenders and even brokers. Lenders can give out different rates and fees to consumers on the same day for the same loan, so it's important to shop around. Once you have a list of rates from many lenders, then you can go about finding which is the best deal.

Ask for help
If finding lenders and brokers in your area is stressful for you, always ask for help! As your local real estate experts, the Kat Geralis Home Team can provide suggestions for experts in the mortgage space that can help you find the best rate for your new home loan. A recommendation can oftentimes put you at ease, knowing that you are working with a trusted pro.

Shopping around for a mortgage in Delaware and Pennsylvania can save you thousands of dollars over the life of your loan, so don't leave it out of the mix! Our team is happy to help walk you through the process of buying a home and answer any questions to calm your concerns. Just give us a call!

We also offer a FREE Home Buyer e-Guide and FREE First Time Home Buyer Seminars!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

You've made a wish list of all of the features you want in a potential Delaware or Pennsylvania home and now it's time for the house hunt to begin. However, after viewing a few properties, you may notice that not every one of your must-haves can be fulfilled in a single home in your price range.

What now? Compromise. While it is not always a word DE and PA homebuyers like to hear, there are worthwhile trade-offs you will want to consider as you view available properties this spring.

Square footage
A potential home in Delaware or Pennsylvania could have everything you're looking for— an updated kitchen, the right school district, proximity to family and friends—but that could also mean giving up a finished basement or guest bedroom. A compromise on square footage should only be entertained if you don't anticipate your space needs growing in the near future, otherwise you could find yourself needing to move all too soon.

Location
If a compromise on square footage is not in the cards for you, many buyers find they are willing to budge on location. Oftentimes, a home within walking distance to entertainment, shops and restaurants is smaller than you would like— but moving a bit farther away could open you up to more homes that meet the criteria on your wish list.

Backyard
Suppose a home fits the bill with the right amount of bedrooms and bathrooms, as well as your budget, but you step outside to find a smaller yard. A compromise on yard size may be worthwhile if the home's interior succeeds in providing the space you are looking for this spring. 

The Kat Geralis Home Team has decades of experience in helping Delaware and Pennsylvania homebuyers find their dream homes, identifying what is important to them in terms of features, location, and home size. Give us a call today for more information about available homes in your desired area!

We also offer FREE First-Time Home Buyer Seminars!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

If you've been considering buying a larger home in Delaware or Pennsylvania, now is the time to start taking those next steps! Buyer demand is still high, which means you could be competing with others for a property, however, with home prices and mortgage rates expected to increase, you won't want to wait any longer.

As your local team of real estate experts, the Kat Geralis Home Team is here to help you through your next home purchase in Delaware or Pennsylvania— and that means making sure you are an informed buyer, especially when upsizing. Below are three things you should know about moving up to a new home this year:

Note what you want vs. what you need
When it comes to your home search, it's important to note what you want versus what you need. Know what is absolutely essential in your new home, especially if you're upsizing. Do you need a bigger kitchen for hosting gatherings or do you just like the idea of one? Do you need a bigger yard due to pets and kids? Make a list of priorities before moving forward or you could risk ending up in a home with buyer's remorse!

Do the math
It's no secret that a bigger home will likely come with a bigger payment. You will need to do the math and research all costs involved before you commit to upsizing to a larger Delaware or Pennsylvania home. For instance, how much extra in maintenance costs will you have or will you need to purchase additional equipment to tackle it yourself? Is the home is in an association? How much are your dues every month? It's wise to have these all accounted for before starting your home search in Delaware and Pennsylvania.

Think about resale
No matter what size home you are buying, it is always smart to put on your future buyer hat and think about resale. If you choose the home and location wisely, you can make a profit when the time comes to sell. Think about what buyers will want, what area is up and coming or which neighborhood will be desirable given your timeline to sell. Think about the number of bedrooms and how that will affect resale. Even if you're upsizing now and plan to stay for decades, you will thank yourself later when it's time to potentially downsize.

No matter if you're upsizing, downsizing, or simply looking for a new home in the area, do not hesitate to give the Kat Geralis Home Team a call! We've helped numerous buyers do the same and we're here to make it happen for you!

New to the real estate market in Delaware or Pennsylvania? We even offer FREE First-Time Homebuyer Seminars!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

Tis the season for holiday chaos in Delaware and Pennsylvania! Your schedule is likely full of festive gatherings, tree trimming, and traveling to visit with friends and family near and far. Right now, buying a new home and settling in before the new year may seem like a challenge, but don't be so quick to write it off! Buying a new home during this busy time of year can be done and you just need an expert real estate agent and a handful of helpful tips to get the job done!

Below are four tips to help you buy a home in Delaware or Pennsylvania before the holidays:

​Get pre-approved
Don't get off on the wrong foot by touring homes that are outside of your budget. Instead, take the time to get pre-approved with a mortgage lender! This way, you'll know exactly how much home you can afford, as well as whether to not you even qualify to buy a home.

Team up with an expert agent
Your real estate agent should both know the DE and PA market well, as well as have a large network of experts at their disposal. For instance, when you have a specific timeline in mind to buy a home—like during the holidays—your agent should know exactly which local professionals to bring in to complete the transaction, from lenders to inspectors.

Get documents in order
You can never be too organized as a Delaware or Pennsylvania homebuyer. Put together all of the documents you will need to buy a home— tax returns from the past two years, W2's or pay stubs, as well as two months worth of bank statements from all accounts. Keep them in a separate folder just for your purchase as this will speed up the process when the documents are needed!

Stay on track
If you're under contract to buy a home, you will want to stay on top of everyone to keep the transaction moving. When you work with the right real estate agent, they will also play an important role in this. Considering all of the parties involved in the transaction, it may be many days before someone gets the document they need or answers a certain question. If you haven't heard back in a timely manner, always check in with that person to stay on track!

2018 may almost be over, but don't let that stop you from buying a new home in Delaware or Pennsylvania! Give us a call today for a list of available properties as well as next steps for home buying or selling your current home!

We even offer FREE First-Time Homebuyer Seminars!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

In past blog posts, we've talked about 4 Real Estate Red Flags Your DE or PA Home Inspection Might Miss and even How to Negotiate Repairs After Your Inspection, but now it's time to go over one more important topic— questions to ask!

When the home inspection is complete and you've gone over the often lengthy report, you will likely have many questions for your inspector that will have your head spinning! As your local real estate experts in Delaware and Pennsylvania, we've rounded up a few important questions to help calm your nerves:

What does "this" mean?
If you attend your home inspection, which is always wise, you will be able to ask the inspector questions in the moment if you don't understand something in his report. For instance, if he lists a defect in the roof that you aren't clear on, you can ask him how serious it is and what exactly needs to be fixed. Never be afraid to ask the inspector if you aren't clear on an item in the report— you should be fully aware of what you're buying!

Is this a major problem?
Buyers, don't be too alarmed by the length of the report! Many of the items included will be minor and not too much to worry about. But be sure to ask your inspector if any major problems came up during inspection, so you are certain of what needs to be done.

Do I need to call for a follow-up?
Your inspector isn't an expert on everything— in some cases, he may suggest you call an electrician or plumber to take a closer look. If he flags something in the report along these lines, ask him if you need to call another expert for a follow-up. This way you can stay on top of repairs or problems!

What needs to be done when I move in?
If you don't plan to ask the seller to make specific repairs, that becomes your job as the homeowner upon move-in. Ask the inspector which minor items you will need to take care of when you move in, so you're not left wondering why something isn't functioning properly when you have the keys!

Have more questions to ask a real estate expert about the buying process? Give us a call today!

We even offer FREE First-Time Homebuyer Seminars!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty
Homes for Sale
Visit My Website
Contact Me
Find me on Facebook