Tales of a Seasoned Broker
Depending on your tolerance for unstructured time, plus the number of children under your direct care, these last two weeks of summer tend to elicit strong, visceral emotions from many of my clientele. The summer camps will be saying their final goodbyes sending thousands of children back to their homes while the schools will remain closed for what seems like an eternity with their doors not opening until after the Labor Day holiday. This “Bein Hazmanim” (between the times) will be the longest period of time for many families over the course of the year where no formal programs, neither educational nor inspirational, will be available en masse for school aged kids. This creates a somewhat formidable challenge to most parents who are now fully responsible for the care, wellbeing and entertainment of their children during the next 2 weeks.
Many families will travel, many others will open up their own “camp” of sorts in their backyards. Friends will go to each other’s houses and tell stories about the amazing summers they had, while parents will take on the role of counselors, chefs, drivers, guides, nurses and sports staff overseeing it all. A lot of fun will be had, but very, very little work will get done.
This would explain why traditionally speaking, the latter part of the summer is relatively dormant with regards to the real estate housing market. Pre-pandemic, most buyers were settled into their homes by the end of August with children registered in school and new addresses quickly submitted to ensure a spot on the bus. During the last weeks of summer everyone is too busy running their own camps to buy real estate and so even the Realtors can take some time off. This was quite the norm for most of my career in real estate in Bergen County until, of course, Covid upended any sense of normalcy. There was a palpable upheaval in the housing market with no let up in the pressure to find a home whatever the month or time of year and, yes, even during these last weeks of summer (I have no idea who was watching the kids).
At present, all indications highlight a lull in activity. But don’t be fooled. This does not stem from a lack of interest on the part of all the buyers anxious to move to Teaneck and surrounding areas. Activity has slowed down and most likely this is due to the simple fact that so few homes are on the market. We continue to hear the steady clamor of buyers eagerly waiting to buy in Bergen County while the “would be” or “should be” sellers remain comfortable and steadfast in their homes.
Nechama Polak is the Broker of Record and Owner of V&N Group LLC located at 1401 Palisade Avenue in Teaneck, New Jersey. Send your thoughts and comments to firstname.lastname@example.org or call 201 826 8809