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Katina Geralis

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As a Wilmington, DE real estate agent, I see my share of nervous home sellers. Particularly in a buyer’s market, marketing a home is tricky. The competition is fierce and you want to make sure that everything goes perfectly. This way, your home will be sold faster for the best price possible. I make it my responsibility to educate those who are interested in selling their Wilmington, DE home about the various tactics and techniques one should use before, during, and after marketing their listing. There is one step that I always recommend: Before listing your home on the Wilmington, DE real estate market, get a home inspection!

Home inspections are an inevitable part of selling your home. It’s understandable. A buyer wants to make sure that their Wilmington, DE home is up to code and ready to move into, but they can also use the inspection results to try and get more out of the seller. The only way to avoid such an unfavorable outcome is to get an inspection before listing your home. Here are some of the benefits to getting your Wilmington, DE home inspected early-on in the selling process:

•    Buyers will perceive a greater value on the home. If the home has already been through an inspection, then the buyers will see that as one less thing to worry about. As a result, you can ultimately get more money from the sale.

•    You can avoid buyer’s remorse. If you complete a Wilmington, DE home inspection well in advance, then you can address all of your home’s defects early-on. This can help avoid buyer panic after the contract is submitted and negotiations are completed. This can help you avoid catastrophes and headaches down the line.

•    It keeps the transaction positive. If a buyer is more focused on the positive, fixed aspects of the home, then they won’t get caught up in the home inspection and try to negotiate more out of you, the seller. It cuts down on buyer demands and gives you the opportunity to get the most value possible out of your Wilmington, DE home.

There are no perfect houses. No matter how amazing you feel that your property is, I can guarantee that a home inspection will find something that needs to be fixed. This isn’t something that you should worry about too much. As your Wilmington, DE real estate agent, I have contacts and connections with several home repair companies in the area. I can help you find the right professionals to fix any and all problems found during your home inspection. It’s the best way to get your Wilimington, DE property ready for the local real estate market!

As always if you need any help with your Wilmington, DE home sale, or you want more information about getting a home inspection, don’t hesitate to contact me! I’d love to help you in any way that I can. I hope to hear from you very soon!

Katina Geralis
Wilmington, DE Real Estate Expert
NextRE Team

Wilmington Real Estate
Wilmington Homes for Sale
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Qualify for a Short Sale in Wilmington!

by Katina Geralis

Foreclosure. Short Sale. REO. All three are real estate terms that you hear in the news every day, especially during the rough real estate climate we are currently in. “Foreclosure” is a term that most people know very well. When a homeowner stops paying the mortgage payments on their home, the bank then starts to foreclose on their home. This is a very stressful and painful experience for those who are struggling financially. Once you lose your Wilmington home, it could be incredibly difficult to get back on your feet and own a home again. That’s where the short sale comes in.

As a Wilmington real estate agent, I have taken an active interest in helping many struggling homeowners through what can be a much better alternative than foreclosure: the short sale process. Short sales occur when one of two things happens:

1.    The amount owed on your Wilmington property is worth more than its market value.
2.    A negotiation occurs between the homeowner’s mortgage companies to accept less than the value of the loan. A buyer closes on the property and is sold for less than the total value of the mortgage.

http://www.kghometeam.idxbroker.com/idx/search/advanced" target="_blank">Wilmington short sales are great options for investors and first time homebuyers because they are sold at low prices. They’re also an attractive option for struggling homeowners because it can help them avoid the painful foreclosure process, and it allows them to get back on their feet much faster. Here are three things that you need to qualify for a short sale in Wilmington, DE:

 

Proof of financial hardship. You need to be able to prove to your lender that there is a situation that is causing you to miss your mortgage payments. Whether you were laid off at work, suffered a costly tragedy or have another financial drain, you need to be able to prove to your mortgage company that you are physically unable to pay your mortgage payments for a valid reason.

A monthly income shortfall. A basic way to put this is that you need to show that you have more “month than money.” Before you qualify for a short sale, your lender will want to see that you don’t have the income flow to continue to pay your mortgage or pay off missed payments. Have a few copies of your bank statement and a breakdown of your monthly income ready to show your lender.

Proof of insolvency. Your lender wants to make sure that you do not have enough money in assets to liquidate in order to pay off your mortgage. Your belongings will be assessed, so before you begin the short sale process, make sure that you don’t have enough in liquid assets to make mortgage payments.

Of course, going through a Wilmington short sale isn’t without its pitfalls. The process can oftentimes be timely and drawn-out. The more prepared you are going into the process, however, the faster your short sale will get approved. Using a Wilmington short sale expert will help ease the stress and tension surrounding a short sale.

If you are overwhelmed by your mortgage payments and feel like you need some guidance, don’t hesitate to contact me! I’d be happy to answer any of your questions regarding Wilmington short sales and help guide you on the path to recovery. If you start looking at your options now, then you can avoid the hardships and stress that come with foreclosure. I hope to hear from you soon!

Katina Geralis
Wilmington, DE Real Estate Expert
NextRE Team

Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook
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Get Creative When Selling Your Wilmington Home!

by Katina Geralis

In the good old days, baking a batch of cookies for your Wilmington home’s open house and throwing in a big screen TV for the buyer was enough to produce some buzz about your home sale. Now that the market is a little more competitive, however, Wilmington’s home sellers need to get creative. In order to get the buyers interested in your home, as opposed to the competition’s, you need to be able to think outside the box.

As your Wilmington real estate agent, it is my job to make sure that all of my home sellers market their home creatively. Going the extra mile to do something a little bit different is what’s going to make your home stand out and sell faster, instead of sitting on the market for an extended period of time. My experience and expertise as Wilmington, DE’s premiere real estate agent has given me some ideas on how to sell creatively. Here are a few ideas that I have picked up along the way:

Get on Facebook. Facebook’s pay-per-click ads are free to create and inexpensive to run. Create an ad for Facebook that shows a picture of your listing and has a creative tagline. Link the ad to the listing page on your Wilmington real estate agent’s website. This will give your listing maximum exposure in your area for little cost. You can also have yourself or your agent use Facebook marketplace to put your listing online and get the word out to your friends. You never know: they may know of someone who is looking for a brand-new Wilmington home.

Stage your home. Staging is of the utmost importance when you’re selling a home because it allows buyers to visualize living in your property. The neutral and clean look that comes from staging presents your home in the best light while minimizing clutter, so that it’s easy for a buyer to insert their possessions into your home. Staging can be done creatively and switched so that each room can be seen to serve multiple purposes. It’s a great way to present your property in the best way possible.

Throw in some extra incentives. Do you want to get some buzz surrounding your property? If so, the answer might be to throw in some great incentives with the purchase of your home. Whether it is season tickets to a basketball or baseball game, airline tickets, or even monetary incentives like a mortgage stipend, these extras will increase the interest in your property and get more traffic through your home. They might not seal the deal, but they’ll get people through the door, and your fantastic home will do the rest.

Make your open houses more festive. Having cookies at your open house is great, but try generating interest by turning it into something of a party. Prepare hors d’oeuvres, have music playing, and if you’re motivated, have some sort of contest or raffle. Making your open house seem more fun and festive might draw interest to your home and allow potential buyers to relax while they look around.

Thinking outside the box and marketing your home creatively is the key to selling your home on the Wilmington real estate market. These creative tactics will increase the traffic going through your property and get your home sold faster. If you have questions about what it takes to sell your Wilmington home, or have questions about the Wilmington, DE area, don’t hesitate to contact me! I’d love to be here for you as your real estate and community expert.

Katina Geralis
Wilmington, DE Real Estate Expert
NextRE Team

Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me

Why the Current Real Estate Climate is Perfect for Wilmington Investors!

by Katina Geralis

The current real estate climate is, for lack of a better word, difficult. Despite record-low interest and mortgage rates, strict lending standards and higher down payments have made it much more challenging for people to buy a home. It’s no surprise, then, that July saw a major slump in existing home sales. In fact, most industry experts and analysts knew that there would be a mild recovery in sales for August, but they were shocked to see just how big of a jump there was: between July and August, there was nearly a 19% rise in existing home sales.

Many industry analysts feel that this is explained by one key factor in the current real estate market: investors. In the month of August alone, investors accounted for 22% of purchase activity. As an investor, there are several reasons you should purchase REO and foreclosure properties in order to bolster your income. As your Wilmington real estate agent, I consider it part of my job to guide Delaware’s investors in the right direction by showing them some of the best bank-owned and foreclosure properties on the Wilmington real estate market. Here are a few reasons distressed properties are desirable for investors:

The price is right. The low cost of REO and foreclosure properties make them attractive investment options. You can obtain property without breaking the bank, with the goal of seeing a sizeable return on investment. The key is to find a distressed home with potential and see what you can do with it from the get-go. The more potential you see, the easier it will be for you to profit from your investment.

Renovations greatly boost home value. Many distressed properties haven’t been maintained, aren’t up to code, or have a variety of maintenance issues. As an investor, you have the power to address these issues right away. You can make the appropriate fixes to the property, as well as give it the upgrades that will make it attractive to a potential homebuyer. The more upgraded and maintained the property, the easier it will be to sell that home for a profit. It will take investment and hard work, but the return you get will be worthwhile.

The current market climate is perfect for investors. With the influx of foreclosures in the national real estate market, it’s not just dilapidated or run-down properties that are getting foreclosed-on. In the current market, all types of homes are going through foreclosure. You can obtain a really beautiful piece of property for a low price and sell it for a sizable profit. Take advantage of the options of distressed properties available on the Wilmington real estate market! It’s a prime time to be an investor; you just need to look for the right properties to invest in.

As a well-rounded Wilmington real estate agent, I don’t just work with Delaware’s home buyers and sellers. I also work with local investors to help them find the right distressed property to maximize their profit in Wilmington, DE. If you want to see some distressed properties on the Wilmington real estate market, don’t hesitate to contact me! I’d love to help you find your next big investment.

Katina Geralis
Wilmington, DE Real Estate Expert
NextRE Team

Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me

Eight Tips For a Successful Wilmington Home Search!

by Katina Geralis

It’s a buyer’s market, and the current climate of Wilmington Delaware real estate suggests that if you’ve been thinking about buying a home in the area, now is a hot time to do so. With home prices and interest rates at record lows, now is probably the ideal time to start your Wilmington home search. That way, you can take advantage of the current, low costs and find the home that really suits you best. It’s time to start house-hunting.

With all of that being said, buying a Wilmington, DE home is far from easy. Especially if it’s your first time around the block, you can get slammed with extra feeds, stressful transactions, and sticky negotiations if you don’t have the right professional looking out for your best interests.

As a Wilmington Delaware real estate agent, I make it my responsibility to help first-time homebuyers navigate the local market by both providing quality advice and making their transaction as smooth and seamless as possible.

When you first start your Wilmington home search, it can be easy to get caught up in the excitement of buying a home and make some costly errors. Follow these eight quick tips, however, and you’ll be in your brand new Wilmington, DE home in no time!

1. Research the neighborhood. It’s an old, but true, mantra: Location, Location, Location! If you don’t take the time to research a neighborhood you’re interested in, you could be in for some serious buyer’s remorse after purchase. Remember, you might find the dream home, but if it’s in a neighborhood that doesn’t suit your needs, you’ll never be fully happy. Take the time to do some research, and you’ll be much more satisfied after signing the papers.

2. Look at several houses before you buy. We’ve all heard of love at first sight, but if you use that during your home search, you could be stuck with a home that needs costly repairs or that doesn’t really fit your needs. Take the time to look and you could find a home better than you even dreamed possible. Just keep an objective eye out on every property!

3. Get a professional inspection. Even if a property is pre-inspected, it can be hard to trust that a seller is disclosing everything wrong with the house, or that the repairs they did make were done thoroughly. Investing in a professional inspection can ease your mind and insure that you’ve covered all your bases, which will make move-in day much less stressful.

4. Go after what you need, not what you want. You might love that cozy, two-bedroom home with a lot of fancy upgrades, but if your family is growing, is it really what you need? Keep your future plans in mind when you’re buying a house. If you focus on what you need instead of what you want, chances are you’ll be more satisfied with the house down the line, and you’ll be in the property for a longer time. It will create a more worthwhile investment.

5. Buying a home at auction? Never overbid. Due to the high number of foreclosures sweeping the nation, many of you may be interested in buying a home at auction. This could be a great idea, but you have to be careful not to overbid. Do your research before attending the auction and stick to the price you know is right. Many auctioneers try and push the home way over market price during auction, so don’t get sucked into that game. Know your limit and stick to it.

6. Never buy a home based on décor. Sure, that house you looked at might have nice decorations, but how will it look with your furnishings in it? Take a step back and imagine your belongings in the house. If that changes your opinion of the property, then it’s probably not the best home for you.

7. Be careful when you read real estate ads. Ad copy is meant to make a house sound amazing and grand. Their phraseology is meant to “talk up” the property. “Cozy” is probably code for small. “As-is” means you might have a lot of work to do. Learn how to read between the lines, so you can avoid wasting time by going to see houses that you’ll want nothing to do with.

8. Don’t buy the most expensive home on the block. Sure, it’s great to keep up with the community you live in, but if you surpass them, you’ll never get the same return on investment. If you buy the priciest property, you’ll find that when you put it back on the market, you won’t get what you put into the home. Try and avoid this by finding a home that is within the average price range of your community.

Buying a home is complicated, but if you stick to these eight tips when you begin your Wilmington home search, you’ll find that your satisfaction after purchase will be high. As your Wilmington real estate expert, it’s my job to educate you on the best home buying tactics for amazing results. If you’re thinking about moving to the Wilmington, DE community, or would like to see some of the homes available on the Wilmington real estate market, don’t hesitate to contact me! I’d love to help you find your dream home.

Katina Geralis
Wilmington, DE Real Estate Expert
NextRE Team

Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me

Take Advantage of the Buyer’s Market in Wilmington!

by Katina Geralis

If you’re looking to buy one of the many beautiful homes on the Wilmington, Delaware real estate market, now is the time to do so. Why? The main reason is that right now, home buyers in Wilmington have the opportunity to be in the driver’s seat. They have a little more leverage right now than those selling their homes, and that’s because right now, we are in what is commonly referred to as a buyer’s market.

For those of you who don’t know, a buyer’s market refers to a real estate climate where the supply of homes on the market is greater than the demand to buy them. At this time, the prices of homes all across the nation are low, so if you’re looking to buy a Wilmington home, you have an opportunity to have your pick of houses on the market, in a price range that otherwise might not have been affordable to you.

As a Wilmington real estate agent, it is part of my job to help home buyers in the area navigate their way through the Delaware real estate market. It’s also my responsibility to let home buyers know how they can best take advantage of the current buyer’s market to find the home of their dreams in the Wilmington, DE area. Here are just a few ways you should be using the buyer’s market to your advantage:

You can take your time. In this current real estate climate, Wilmington’s home buyers don’t have to jump to make an offer on the first property they like. Instead, they can feel free to take their time searching for the right home, asking the right questions, and even wait for the price to go down on a home they like.

Get foreclosure properties for bargain prices. Due to the nationwide spike in foreclosures, many homes sit vacant and are being offered for low prices. Many people in the Wilmington DE area who don’t feel that they can afford a regularly-priced single family home could still be a homeowner, if they were willing to purchase a foreclosure property! Several of these homes have a lot of potential, and some of the new REO regulations insist that homes be move-in ready before they’re sold to their new owners. It is a great option that more of Wilmington’s home buyers should take advantage of!

Don’t be afraid to ask for more time. If you need a few weeks’ breathing room to get yourself ready for the move or to make some last minute inspections, don’t be afraid to ask for it! In this buyer’s market, people are looking to sell their homes as quickly as possible, but they also want to make sure their property gets sold!! If you need some breathing room, this market presents the perfect conditions to ask for it.

You can ask for a written warranty. There’s a chance that some repairs will need to be made to the house after you purchase it, so use the buyer’s market in Wilmington, DE to ask for a written warranty. A year of coverage on appliances and structural repairs could be extremely valuable, and it will save you the stress of paying for repairs on a house you just bought. If a seller is motivated enough in this market, they may be willing to give you a warranty on the property.

These are just a few of the many reasons why Wilmington home buyers shouldn’t hesitate to start their property search now. The current real estate climate suggests that there are more homes on the market in Wilmington than people who want to buy them, so if you begin your home search now, you can probably find the best property at a low or fair price. As your Wilmington real estate expert, it is my job to help guide you through your property search, so if you have any questions, or want to see some gorgeous homes on the market in Wilmington, DE, don’t hesitate to contact me. I’m here to answer any and all of your questions and to guide you through your home search.

Katina Geralis
Wilmington, DE Real Estate Expert
NextRE Team

Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me

Welcome to the Wilmington 360 Real Estate Blog!

by Katina Geralis

As a Wilmington, Delaware real estate agent, I pride myself on being the go-to resource for those who are looking to buy their next home in the Wilmington DE area. Me and my NextRE team believe that providing superior customer service and being knowledgeable about the Wilmington DE real estate market is the key to buying and selling a home in Wilmington, Delaware. One of the ways that I accomplish this is by constantly communicating with each one of my clients, whether it be by phone, email, or blog!


If you’re honest and open from the beginning about what you’re looking for in a Wilmington, Delaware home, then I know that me and my NextRE team can help you find your dream home! We want to know exactly what you expect from the Wilmington home buying process, and any pertinent questions you might have about the real estate market, before you jump right in to finding your dream home. While I love listening to my clients’ needs and taking their input into account, I also like to educate them on the ins and outs of the Wilmington real estate market and give them share with them different ways to make their Wilmington home search as seamless as possible. That’s why I’m giving my blog the “fresh start” that it needs.


Every other week, I’ll be providing you with the latest information about the Wilmington real estate market, market statistics for the area, and buyer and seller tips that will help you find your dream home in Wilmington, Delaware. This informative and interesting approach to my blog will tell you everything that you need to know about the Wilmington home buying and selling process, and it will insure that you’re well-informed before jumping into any real estate transaction!


I would love to be your real estate and community resource for Wilmington, Delaware! My years of experience in living and working as a Wilmington real estate agent have made me an expert in the local real estate market and on the community. My expertise will be a great asset to you whether you’re relocating to the Wilmington, Delaware area, looking for a new Wilmington home, or thinking about putting your house on the market. My goal is to your “go-to” resource for anything related to the Wilmington real estate market!


I look forward to providing you with these bi-weekly updates and tips, and I hope that you keep checking back to learn a little more about buying a home in Wilmington! Feel free to contact me at any time with any questions, concerns or advice you might need. I hope to hear from you soon!

Katina Geralis
Wilmington, DE Real Estate Expert
NextRE Team

Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me

Should I Buy a Home Now?

by Katina Geralis

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.

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