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John Salkowski | The JRS Realty Group Blog

Thursday, June 6, 2024   /   by John Salkowski

Why Isn’t My Home Selling?

Are you struggling to sell your home this summer? As we transition from the spring to the summer housing market, inventory is increasing in our area. More people need to sell, so if you expect your house to fly off the market like it’s April, you might be in for a rude awakening. The good news is that you don’t have to settle for a drawn-out home sale. By taking the right steps, you can still receive top dollar and sell quickly in this market. Here are three things you can do if your home isn’t selling:
1. Make sure your price is right. Since more homes hit the market during the summer months, the market rate for your house might be changing. Double check comparable properties, especially those that have hit the market recently, to see if you need to make an adjustment on price. Your real estate agent can also run a comprehensive market analysis, which will give you a more complete picture of where your home stands in the current market.
2. Address condition a! ...

Tuesday, May 28, 2024   /   by John Salkowski

Selling Your Home: Should You Pay the Commission?

A recent lawsuit involving the National Association of Realtors has sparked numerous questions about the necessity of paying a buyer's agent commission. While the legal specifics are complicated and widely covered in the news, I want to focus on practical advice for sellers in light of this development.

With 18 years of experience in the real estate industry, I’ve always operated under the principle that commissions are negotiable. They have never been fixed in my office, and this approach remains unchanged.

The lawsuit suggests that sellers are no longer required to pay a buyer's agent's commission. Here’s my advice for sellers facing this new reality: Remember that a buyer's agent is your first line of marketing defense. These agents work tirelessly, often showing 20 to 30 homes before securing an offer.

Offering a commission to a buyer's agent can be an essential part of your marketing strategy. While you are not obligated to pay this commission, I recomm. ...

Wednesday, May 8, 2024   /   by John Salkowski

Which Remodels Offer the Best Return When Selling a Home?

How do I get the most bang for my buck when it comes to home improvements? Spring is a time when flowers bloom and home sales peak, but it's also a time when we can shake the dust off of our home improvement projects. It's a time when you'll find homeowners out renovating their gardens and inside painting their walls to refresh their homes for the new season. But, for those who are interested in selling this spring, what kind of home improvement projects will net them the biggest return on their investment? It's a crucial consideration, as not all improvements will significantly enhance your home's value. Today, I'll go over what projects to avoid, what repairs to make, and how to select a good contractor to do the work.
1. Avoid these upgrades. While upgrading is a great way to build on your home's existing value, there are plenty of upgrades that aren't worth your time or trouble. Upgrading your kitchen to top-of-the-line or professional grade, or making lavish landscaping changes! ...

Friday, April 26, 2024   /   by John Salkowski

April 2024 Greater Philadelphia Area Housing Market Update

The latest on housing prices, interest rates, total inventory, and more.

Recently, a lot of clients have been asking me what’s happening in the Greater Philadelphia Area's housing market, and I understand why. Our local market has been going through a lot of shifts recently that you need to be aware of, whether you’re planning to buy or sell in six weeks or six years. That’s why today, I’m taking you through some of the most important statistics from the Greater Philadelphia Area market:
1. Home prices. Despite higher interest rates, home prices in our area have been increasing steadily. The median price is currently $312,400, which is up 7.5% from this time last year, and experts expect prices to rise another 1% in 2024. While the market isn’t as hot as it was when interest rates were lower, a short supply of inventory will keep prices steady for the foreseeable future.
2. Inventory. While the number of homes for sale in ou ...

Friday, April 5, 2024   /   by John Salkowski

How Should You Respond to a Low Offer on Your Home?

A few steps you can take to negotiate a great deal with lowball offers.

If you’re planning on selling your home this spring, you need to be prepared to receive a lowball offer. Housing market activity has slowed since interest rates stagnated around 7%, but prices are still high in most markets due to low inventory. This has created a situation where a lot of homebuyers have warped expectations of what a “good” first offer on your home should look like, and you need to know how to respond. I know a low offer can be insulting, but you need to think strategically when selling your biggest asset. Today, I’ll go over how you should strategically react to a low offer to ultimately get the deal you wanted all along.

1. Check the comps one more time. Before you deal with your lowball offer, double-check that it’s actually as low as you think it is. The housing market changes at a rapid pace, so make sure your home is still worth ...
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