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Updated Delaware and Pennsylvania Real Estate Market Stats 2019

by Katina Geralis

It's time for a new Delaware and Pennsylvania real estate market update! As you know, the market is always changing, especially with the seasons, but buyer demand is still high in Delaware and Pennsylvania since buyers now shop year-round for properties on their smartphones, tablets, even set up email alerts with new listings! 

Inventory is hovering around the same mark, if not slightly under, as compared to this time last year. But remember, this is always changing! If you have questions about the market where you live, it is always best to contact your agent for an up-to-date look at the market. As your local experts, the Kat Geralis Home Team is here to help!

From April to June 2019, 2,007 homes were sold with a median sold value of $239,000. The number of units listed during this timeframe was 2,714 homes— so as you can see, buyers are still very much browsing inventory and not waiting long to jump on the home that best meets their needs!

The average days on the market for New Castle County for homes listed during April, May, and June are as follows:

April: 64

May: 54

June: 47

The summer months are typically a popular time for buyers to look to purchase a new home and move, so you'll notice as the summer progresses, the days on market (DOM) drops. 

Updated real estate market stats can provide brief insight into the local real estate market, but they are just that— brief! Contact us today for more information about the market where you live in Delaware or Pennsylvania or with any questions you have about buying or selling a home before the end of the year!

We even offer FREE First-Time Home Buyer Seminars!

Give us a call today!
 

Katina Geralis
DE and PA Real Estate Expert
eXp Realty

Homes for Sale
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How to Get Your Delaware or Pennsylvania Home Ready for a Showing

by Katina Geralis

When you've decided to list your home in Delaware or Pennsylvania, it may seem like your to-do list grows longer and longer. You will need to start searching for a new home, clearing the clutter and packing up to make your move a bit easier when the time comes. But it doesn't end there! One more added stress for you may be keeping your home buyer-ready for showings.

There are dozens of little tasks you can check off to prepare your home for a showing in minutes and as your local real estate experts in Delaware and Pennsylvania, I am sharing a few with you below!

Mop or vacuum
Complete a quick cleaning of the floors in your entryway, kitchen and bathrooms. If necessary, spot clean debris on the floor with a sponge or towel.

Dust screens and furniture
The last thing a buyer wants to see if dust lingering in the air or on your furniture. Dust your coffee table or end tables, TV screens and computer monitors before they arrive.

Remove clutter from counters
Small appliances, knick knacks, mail and other miscellaneous items should be cleared off of counters and stored elsewhere. After you've removed these, wipe down all of the counters to ensure they are clean.

Make the beds
This task takes just a few minutes and can make a world of difference in helping a room look put together. 

Empty trash cans
You do not want any lingering odors in your home when buyers arrive for a showing, so make sure all trash cans have been emptied.

Turn on the lights
Letting light into your Delaware or Pennsylvania home can help it feel lighter, airier and larger. Turn on all of the lights in your home and open the blinds or drapes to let in more sun. If necessary, clean your windows so they are free of streaks.

The Kat Geralis Home Team has years of experience in helping homeowners sell their properties and move on to their next dream homes! If you're ready to do just that, contact us today!

We even offer a FREE Home Seller e-Guide!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty

Homes for Sale
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Breaking Down the Mortgage Process in Delaware and Pennsylvania

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
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How to Stand Out as a Delaware or Pennsylvania Home Buyer

by Katina Geralis

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
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This time of year, Delaware and Pennsylvania residents have filed their taxes and thinking one step ahead, are now planning ways to spend their refund. While you likely have dozens of ideas about how you're going to spend your money this time around, why not invest it back into your home? 

The following home upgrades actually pay off at resale and will be well worth their initial cost:

Remodeled Kitchen
Upgrading your kitchen is one of the smartest investments you can make in your Delaware or Pennsylvania home. Stick to high-quality fixtures, including stainless steel appliances and granite or quartz countertops. However, also keep in mind the size of your home when remodeling. If your home is a smaller, two-bedroom, you may not recoup all of your investment. Do not be afraid to ask your real estate agent about the best upgrades for your home's size if you're planning to sell this year!

New windows
During the winter months, you may notice drafts around your windows and doors, not to mention higher energy bills each month. Replacing windows will keep your home warmer and intrigue Delaware and Pennsylvania buyers that are looking for a newly-updated home.

Landscaping
Curb appeal is the first thing a buyer will notice when they visit your home or view it online. Every addition from hedges to flower beds is well worth your while as a homeowner as these tell homebuyers that you care about your property and its upkeep.

If you're thinking about selling your home in Delaware or Pennsylvania, it is wise to invest in the upgrades that will pay off! Contact the Kat Geralis Home Team today with any questions about the real estate market or for more information about selling your home for top dollar in DE and PA!

We have helped many Delaware and Pennsylvania home sellers find the right buyer and we'd love to help you do the same! 

We also offer a FREE Home Seller e-Guide and FREE Home Valuation Tool

Katina Geralis
DE and PA Real Estate Expert
eXp Realty

Homes for Sale
Visit My Website
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Homebuyers are out in droves as the busy spring real estate season gets underway in Delaware and Pennsylvania. If you've already taken the steps to list your property in DE or PA or are planning to soon, the next step involves highlighting your home's key features that buyers will love.

The following elements of your home may seem like nothing to you, but to buyers, they could be just what they are looking for— Don't be afraid to point them out!

Location
You've heard the phrase "location, location, location" before and it never holds more true than when assessing your home's value. Is your home located near restaurants, shopping and entertainment? Do you have an excellent commute time from your neighborhood? Buyers will want to know! And as your real estate experts in Delaware and Pennsylvania, the Kat Geralis Home Team can help identify such selling points this year!

Storage
Many Delaware and Pennsylvania buyers are diving into the real estate market simply because their current home lacks storage; this is also one of the reasons current renters will make the transition to homeownership over the next few months. A large garage, walk-in closet or pantry just might spark the interest of a buyer whose sole purpose for moving is to gain more space.

Layout
While Millennials are expected to make a big impact on the real estate market this spring, another group ready to make a move is seniors. Those whose children are all grown and out of the house will be looking to downsize and features like a ranch-style layout, zero exterior steps and minimal upkeep will be high on their list.

We have helped many Delaware and Pennsylvania home sellers find the right buyer and we'd love to help you do the same! Give us a call today for more information on next steps toward listing your Delaware or Pennsylvania home!

We also offer a FREE Home Seller e-Guide

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

With the wealth of real estate reality TV shows out now, many Delaware and Pennsylvania residents have their wheels turning and are ready (or so they think!) to buy a home that needs a little TLC. So, you think you want to buy a fixer upper home? While your dreams of renovating a property may be driven by what you've seen on television, it's important to remember that the reality of updating a home from start to finish can be much more time-consuming, tedious, expensive, and drawn-out than you realize.

But as your local real estate team in Delaware and Pennsylvania, the Kat Geralis Home Team is happy to share below three things to do before you commit to buying a fixer upper home this year:

Research the location
Not only should you research the location of a home before purchasing, but also look into the zoning. What you may not know is that every community in Delaware and Pennsylvania has zoning districts and restrictions surrounding what can and cannot be done to homes within their limits. You will want to take a close look at the zoning of your future property before you become too set on what renovations you will do once you get the keys.

Talk to a contractor
Unless you are confident in your ability to do all of the work on your fixer upper home yourself, it is wise to speak with a contractor or architect who can assist you in carrying out your vision. One rule of thumb— gather quotes and opinions from several contractors in the area prior to choosing one for your projects.

Recruit a home inspector 
It is a home inspector's job to look into any structural problems, in addition to pointing out what needs to be replaced— the roof, for instance. The last thing you want when you begin your renovation projects is to find that your foundation is unstable or a major operating system like the plumbing has failed. If you need recommendations for a home inspector in your Delaware or Pennsylvania area, do not hesitate to reach out! Remember, your real estate agent is a wealth of resources!

Ready to get started on finding the perfect home for you— fixer upper or otherwise? Give our experts at the Kat Geralis Home Team a call today! We even offer a FREE Home Buyer e-Guide to provide you with must-know information in an easy-to-read format!

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

Why Delaware and Pennsylvania Homeowners Overprice Their Homes

by Katina Geralis

With home sales on the rise and home prices following suit, many Delaware and Pennsylvania residents will soon begin the process of listing their properties to take advantage of this exciting time in the market, as well as the warmer weather coming this spring! But one common disconnect between homeowners and their agents is the price at which they believe they should list the property. 

The price DE and PA homeowners have in mind is oftentimes not realistic for the local market and takes into account a variety of factors including their emotional ties to the home. Finding a comfortable price for you can be a major obstacle when selling your home and you may need to compromise— just take a look at these common reasons homeowners overprice their homes in Delaware and Pennsylvania:

You think your decor is the best
Naturally, your home will represent your unique tastes and style, but keep in mind that it may not do the same for other buyers. Your knick-knacks, bright colors on the walls and large furniture items can get in the way of buyers envisioning themselves living in the home, so take care to scale back on these during the selling process.

You have emotional ties
Homeowners who have lived in a property for several years will develop emotional ties to the home, especially if you've raised your family there. In your mind, the home's worth may be far more than what buyers are willing to pay, so remind yourself to be realistic and remove your homeowner hat. It's important to look at the property as a buyer, without emotional ties, in order to find an accurate price.

You want to make a major profit
Who doesn't want to make a profit when selling their Delaware or Pennsylvania home? This may tempt you to drive up the price, but don't be too hasty. Your home value is dependent on the current market, comparable properties and its condition. Just because you need a specific amount of money from the sale to purchase your next dream home does not mean you can or will sell your home for that amount.

If you're ready to start the process of selling your DE or PA home, give our experts at the Kat Geralis Home Team a call today! We even offer a FREE Home Seller E-Guide to get you the best information in an easy-to-read format!

Katina Geralis
DE and PA Real Estate Expert
eXp Realty

Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

5 Hidden Costs of Owning a Home in Delaware and Pennsylvania

by Katina Geralis

Owning a home in Delaware and Pennsylvania definitely comes with its perks— from tax benefits to free reign on design and everything in between. But if you're making the transition from renter to homeowner this year, it's important to note that there may be a few home-related costs that you didn't plan for or even know about before you began house-hunting.

As your local real estate experts in Delaware and Pennsylvania, you can count on the Kat Geralis Home Team to make sure you are prepared for every aspect of homeownership— including the following hidden costs:

Property Taxes
When you use a mortgage calculator prior to buying a home in Delaware or Pennsylvania, it is essential that you input estimated property taxes. You can typically find this amount on any listing, or ask one of our real estate experts to help, so you can see how your monthly payment will change adding them in.

Insurance
Homeowner's insurance will vary depending on your home, your pets, your neighborhood, and a host of other different factors. Research average costs in your area and add them into your potential monthly mortgage payment to avoid any surprises down the road. 

Yard Upkeep
If you're currently renting in Delaware or Pennsylvania, you likely do not have to deal with the yard upkeep or maintenance. Once you become a homeowner, you will be responsible for buying all of your own tools, including snowblowers, lawn mowers, shovels, and rakes. Not to mention, the time you will need to free up to keep your yard looking well-manicured in every season!

HVAC
Furnaces and air conditioning units can be a major cost that homeowners do not account for when buying a property. For instance, if you don't have a home warranty, and your furnace breaks down, only you are responsible for covering the repairs or replacement which can cost you thousands! It's best to begin saving for a rainy day fund at the start of your homeowner journey to prepare for things like this, or even small expenses like replacing furnace filters every month or so.

Utilities
As a renter, you were likely used to much smaller utility bills than you will have as a homeowner in Delaware and Pennsylvania. Once you've found a home you're interested in, you can ask the previous homeowner for the average utility costs in order to factor them into your overall budget and avoid surprises later.

Ready to make the move to become a homeowner in Delaware or Pennsylvania? Give our experts at the Kat Geralis Home Team 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

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