Tales of a Seasoned Broker

The Fed promising interest rate hikes, rising inflation making the cost of everything more expensive and of course, supply chain/labor shortages are all factors in nudging existing home sales as well as construction costs into increasingly uncharted territory. These are the ongoing conversations I hear being spoken about among my buyers, sellers and other professionals in the industry on a regular basis. Theories abound on all of the above and the impact each one will have on the market.  

But all of these discussions ultimately pivot toward a different issue facing the housing market today and this is one less easily understood or explained. After showing my customers one, two maybe three homes the tour ends and I have to tell my customers there is nothing left to see. “I am going for a new listing tomorrow morning, but as of right now, I have nothing left to show you.”

 To understand this new phenomenon I want to use these pages to explore, at least anecdotally, why there are fewer people than ever looking to sell their homes and move elsewhere.  And while I have my theories as to what’s going on, I want to engage “you” the readership of the Jewish Link, to create a more informed picture of what is happening in the minds of the “I’m not ready to move” crowd. 

As a member of this over 65 crowd I have my own thoughts on the issue and so will talk only about myself in the hope of inspiring some of you to share your thoughts on this issue as well. 

As this column would suggest, I love my job. Working with buyers and sellers is often a tension-filled, intricate affair but at the end of the day I never could have imagined deriving so much structure and meaning out of a career. My husband B’H doesn’t have as much fun as I do at work, but he too is engaged full time at the office.   Here we are, 2 working parents with no kids at home. We have a daughter and her beautiful family in Israel that constantly call us to spend more time, and when we can, we happily oblige.  Ultimately we see Israel in our future but we have family here as well.  Life here is good. We like our Shul, we love our Rabbi, a different restaurant every night should we desire. 

It’s to Bergen County’s credit that large numbers of children raised here have opted to raise their own families here as well. Though many of our residents own places in Florida, the Jersey shore and Israel, the magnetic pull of family always brings them back

As I find myself front and center of this communal conversation I want to understand more than just my own feelings on this. Please send me an email – nechamapolak@gmail.com and let me know how this decision is playing out in your life. In a few weeks I’ll be putting together all of your thoughts (anonymously of course) and we’ll get some new takes on what’s happening out there. 

Nechama Polak is the Broker of Record and owner of V and N Group LLC located at 1401 Palisade Ave in Teaneck. nechamapolak@gmail.com 201 826 8809.