Kat Geralis Home Team Wilmington DE Real Estate News Archives

Blog

Displaying blog entries 1-3 of 3

Breaking Down the Mortgage Process in Delaware and Pennsylvania

Friday, June 21, 2019
by Katina Geralis

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
Find me on Facebook

5 Delaware and Pennsylvania Real Estate Reality TV Myths

Thursday, December 20, 2018
by Katina Geralis

Now that it's winter in Delaware and Pennsylvania, we're all staying indoors a little more and perhaps you're even watching a few real estate reality TV shows— we've all seen a few by now! As these shows grow in popularity, it's important to keep in mind that not everything you see on your screen is actually reality. Much of what takes place is staged and filmed in a much shorter timeline and as your local real estate experts in DE and PA, we've included a much needed reality check for you below!

Myth: Buyers only choose from 3 homes
In nearly every reality TV show based on homebuyers, there are typically three homes toured before the buyer makes a decision and chooses one. While there may be a small percentage of buyers that truly buy one of the first few homes they see in Delaware and Pennsylvania, remember that the average homebuyers tours at least 10 homes during their search, according to the National Association of Realtors.

Myth: The show takes place in real time
It may seem unrealistic that the homebuyers can go through the entire buying process, from search to closing, within a 30-minute time slot and that's because, it is. Real estate reality shows often follow buyers who are farther along in the process and have already chosen a home to buy, in an attempt to speed up the process for viewers.

Myth: These homes are still for sale
As mentioned above, real estate reality shows are often filmed months in advance of their air date. So  if you've spotted a home that you love on your favorite show, keep in mind that unfortunately many of the homes shown are already sold and off the market. The properties are staged for TV for the "home search" phase.

Myth: Your home will sell at the open house
Many times homeowners on TV will hold an open house and then choose from the dozens of offers that result from the traffic. Please remember that just as many homes sell from regular showings and if you hold one, your property may not hook a buyer from the first open house. This is just a small piece of the puzzle when marketing Delaware and Pennsylvania homes.

Myth: Removing a wall is easy
Every homeowner today wants an open concept floor plan and thus, real estate reality shows typically show demo teams knocking down walls to make it happen. In reality, removing walls may not always been in your budget or even possible for your specific home. If the wall is load-bearing, there is much more structural work that comes into play and that can be more costly than you think!

Don't get too caught up in real estate reality TV myths if you're a new homebuyer in Delaware or Pennsylvania! It's always wise to consult the pros first! Give the Kat Geralis Home Team a call today for more information about next steps in the buying process or for a list of available homes.

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

4 Mistakes to Avoid When House Hunting in Delaware and Pennsylvania

Friday, September 28, 2018
by Katina Geralis

While you may have seen dozens of real estate reality TV shows that make it look as simple as touring three homes and then choosing the best one, there is so much more to house hunting in Delaware and Pennsylvania. In fact, there are a few rules of thumb to follow in order to avoid any buyer's remorse or financial obstacles down the road.

As your local real estate experts in Delaware and Pennsylvania, the Kat Geralis Home Team has put together four mistakes to avoid when house hunting this year to make your experience as smooth as possible:

Don't Skip the Pre-Approval
Working with a lender on your mortgage pre-approval should be your first step in your DE or PA home purchase process. In the event that you find a home you want to pursue, a seller will likely not entertain any offers without a pre-approval. This step shows the seller you are serious about buying and can give you an edge over other buyers who may not have a pre-approval completed.

Don't House Hunt on Your Own
There are many perks to working with a real estate agent, so don't make the costly mistake of going it alone this year! Remember that your agent has done this before and knows the in's and out's of crafting the perfect offer and corresponding with all necessary parties in a transaction. Navigating a home purchase alone can be a full-time job in itself— why not leave it to the pros?

Don't Wait Too Long to Act
If you see a home in DE or PA that you love, don't wait! Buyer demand has been strong over the past few months and it hasn't slowed down yet! You won't want to let your dream home slip through your fingers because you waited a week to get in for a showing. Work with your agent to make sure you are timely in viewing the property and writing your offer if you've found "the one!"

Don't Get Distracted by Home Features
When you tour a home, it can be easy to get distracted by updates like new appliances, light fixtures, and even trendy items like sliding barn doors. But don't get too carried away! It is important to envision how you and your family will live in the space— does it have enough bedrooms? Are there enough bathrooms? Does the layout suit your needs? Is there enough outdoor space? Home features like lighting and hardware are simply decorative, while major structural components like layout and square footage will affect your daily life and are what you will need to focus in on.

Ready to buy a home in Delaware or Pennsylvania but don't know how to get started? Contact our team of local experts today! We will walk you through every step in the process!

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

Displaying blog entries 1-3 of 3

Syndication

Categories

Archives

Kat Geralis Home Team Real Estate