I am a total political junkie. Maybe it's just that it's my city's major industry, or maybe it's having a very political last name. But I am hooked. I'm as hooked on politics as I am on Active Rain.
So everyone asks me if I'm stoked about the upcoming administration change. Whoever wins in November, there will be some property turnovers. But not as many as a lot of people think.
Some friends of mine who came here to work for the Bush Administration are in the process of listing a beautiful home overlooking the Potomac River and Georgetown University. And there will be more nice homes coming on the market. Republicans tend to have really nice houses.
But what will the new administration bring to town?
When a governor is elected to the White House, he usually brings people from his native state to Washington. If they are coming to DC from California or New York, they are not shocked by the house prices here. But if they come from someplace like Arkansas, we need a large supply of smelling salts in our glove compartments.
But McCain, Obama and Clinton are all senators who are pretty established in the DC scene. They are more likely to tap talent that is already here in town.
There are all of the professional under-secretaries of whatever, and when their party is our of power, the go to work for local law firms and trade associations. And they already live in the Washington area when it's their turn at the White House once again.
And there wil be changes is the Senate and House of Representatives, and many of the newbies will be buying houses here. Then I have to remember the article in one of the local papers a few years ago about congressmen sleeping in their offices or sharing basement apartments on Capitol Hill with a couple of colleagues. If they are not independently wealthy, they could have a tough time living on a congressional salary while maintaining a home back in their districts.
But there is no doubt about it. Washington, DC has to be just about the funnest place in the world to be a real estate professional!
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Pat Kennedy, author of "The Irreverent Guide to Real Estate" , has been selling homes in the Washington, DC area for over 25 years. She's licensed in DC, Maryland & Virginia
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Patricia _ I have never considered the real estate implications of election years. Very interesting.
Patricia- Sounds like a lot of fun in your town! Have fun selling all those houses!
Interesting perspective on the election's outcome, resulting real estate transactions. You're probably right about the smelling salts.
Patricia: I would bet that you could go back into your years in the industry and come up with some very interesting stories. I'd love to hear them. Great post. By the way, there is a "Politics and Real Estate" group that you could also have submitted this post to. It is listed as one of my groups on my profile page, if you wish to find it. Take care...
DC is an excitng place to visit and so green. I like it too.
I hear the Austin TX market has been doing really well -- they are all returning, thank goodness!
Really! Nothing like being right in the thick of things...How fun! I've never been to Washington, but its on my Top 10 places to see!
Patricia- I remember the first time someone told me they "worked on the hill". My comment....what hill? That's about my understanding of Washington...:) Thanks for this interesting post, so now all I need is someone to talk with where I can impart these wonderful tidbits of RE info :)
Patricia,
That makes plenty sense that the new prez, whoever it is, is likely going to tap a lot of local talent to run the show, since he/she is a Senator. So the metro area's real estate agents and mortgage lenders do like it better when a governor moves in with his team. Intriguing.
Patricia,
I have to cinfess, I'm a political junkie too. Kind of sounds like a game of musical houses.
Patricia, you bring up an interesting point. I hadn't thought about the fact that all three candidates are established Washingtonians at this time and will be unlikely to be bringing the large entourages that governors bring from their states.
PATRICIA, I am a political junky in Texas but I'm not sure I could live around it 24/7. It is wonderful that you enjoy it so much.
Pat - Don't much care for politics but do agree DC is indeed a fun place! - and a nice train ride away/short flight away from NY.
Pat, It must be exciting being a REALTOR® in Washington. Every four years there is a bidding war for the white house. I hope you are very busy this November/December.
I lived in the DC are for over 10 years, and had a chance to have some great clients, acquaintances, and opportunities. There is always something going on, and someone is either coming or going from the area. The buzz is constant and exhilarating. It will be interesting that new talent will always be tapped in a change of administrations.
Patricia, you are right about maintaining the two households, and with the Washington and Virginia-MD areas not exactly low cost, that could be tough.
One thing that is really great about this happening every four years, is that there is a constant infux of people into and out of the DC/MD/VA area. It's great for the area, and it is even greater for all of the people who come to know the very reason why our country's system of government works.
Well, gee whiz, our little state got mentioned in your blog. I'm not sure it was in a way that was flattering.
But at least you thought of us. We do have affordable homes in Arkansas and I'd never thought of how exciting a change of administrations might be for a real estate agent in D.C.
Pat - I don't think you can live in DC and not be involved in politics!!!!! Besides, after your Nadar days, it is natural!