Reassessing & Relocating
Should You Ditch The City?
By Esther Reizes-Lowenbe
Throughout history, several worldly pandemics have caused people to move from urban locations to the suburbs and beach towns. Generally, people moved back following the pandemic due to jobs and schooling obligations. However, times have changed. With the outbreak of the Coronavirus, many are flooding to their beach and country homes. This departure is becoming permanent for many.
As a suburban realtor in Rockland County, I am seeing people desperate to leave the city. Many Brooklyn friends and acquaintances are suddenly calling me, saying that they cannot handle living in a city apartment any longer. Children cannot play at local parks or indoor children’s play areas, making life difficult for parents.
A BETTER LIFE
My friend Sarah expressed that if she would have to quarantine again, with the talk of a second wave approaching, she would rather do so in a larger, more comfortable indoor/outdoor living space with a home office. She is seeking a better quality of life and the ability to have more family time. Her husband is seeking a lower commutation to work, less traffic, and less exposure to pollution accumulated in the city.
My friend Sarah expressed that if she would have to quarantine again, with the talk of a second wave approaching, she would rather do so in a larger, more comfortable indoor/outdoor living space with a home office. She is seeking a better quality of life and the ability to have more family time. Her husband is seeking a lower commutation to work, less traffic, and less exposure to pollution accumulated in the city.
TO GREENER PASTURES
Shea Schneider, president of SRG Trade, in Surfside, Florida, has seen twelve new families move into the apartment building he calls home. Many are relocating from New York, due to the civil unrest and crime. These people planned to move before, but these circumstances accelerated their move. Most of them rent first and then scope out areas to see where they want to live long term. A recent relocator himself, he feels his inventory liquidation and closeout business can operate from any location with his ability to network through various social media platforms such as Facebook and LinkedIn.
According to Yael, Ishakis, the branch manager of FM Home Loans located in Teaneck, NJ, there is a huge increase and uptick in loan applications. People are leaving the city for greener pastures. This is creating a sellers’ market and bidding wars. Because the interest rates are low, the buyers are still getting low mortgage payments despite paying $10 - $20K above asking price.
According to Yael, Ishakis, the branch manager of FM Home Loans located in Teaneck, NJ, there is a huge increase and uptick in loan applications. People are leaving the city for greener pastures. This is creating a sellers’ market and bidding wars. Because the interest rates are low, the buyers are still getting low mortgage payments despite paying $10 - $20K above asking price.
According to Yael, Ishakis, the branch manager of FM Home Loans located in Teaneck, NJ, there is a huge increase and uptick in loan applications. People are leaving the city for greener pastures. This is creating a sellers’ market and bidding wars. Because the interest rates are low, the buyers are still getting low mortgage payments despite paying $10 - $20K above asking price.
People are reassessing and reflecting on what took place in the past few months and are making calculated plans and taking swift action. Families are looking for fresh air, backyard, front yard, the suburban lifestyle within access to the city by car or public transport. Many are prioritizing and choosing to remain close to their families and friends during this global pandemic.
Esther Reizes-Lowenbein is a Licensed Real Estate Salesperson at eXp Realty. For more information, contact her at estyreizes@gmail.com.
