On the front page of today's Burlington Free Press was an article about the Obamas first visit as a family to their soon-to-be new home, the White House. While President George Bush and the President-elect talked politics, specifically the economy and foreign policy, Laura Bush gave Michelle Obama a grand tour of the historic residence and talked about raising children in the White House. The Obamas got a sneek peek at the Lincoln Bedroom, the president's office in the residence and of course, the Oval Office. This article got us thinking about the property value of the White House...so for fun, we attempted to figure out the value. Of course not having access to the MLS system in Washington, D.C., calculating a full market analysis would be impossible! So instead, we used a handy tool on Realtor.com's home page called "What's Your Home Worth?" After typing in the infamous address, results were less than helpful as there was no market data available for that or any home on Pennsylvania Avenue! So then it got us thinking about the Obamas home in Chicago, it's value, and of course who might they hire as a Realtor! We Googled (this should be a legit verb now) for the Obamas address and plugged it into the home value tool. The data that came up, included neighboring homes on the market as well as recent sales. Homes on the Obama's Greenwood Avenue were selling in the $800,000 range. Do you think they'll need a referral to a Coldwell Banker agent in Chicago? Fun and interesting stuff! :)
The election is finally over! As we all know Obama prevailed. I try not to sway too far one way or another when it comes to politics nor do not discriminate against supporters of any party - I'm happy to represent, list property for or show houses to Democrats, Republicans, Independents - whomever! Hopefully under the leadership of Obama, our national economy will now start to turn back around - especially the housing market. The Vermont real estate market hasn't been hit like the rest of the U.S., but it certainly has slowed down and prices have dropped. The mortgage rates? Well they change daily! Last I knew they were holding strong around 6%. I will know more later when I have lunch with our favorite mortgage broker, Nick Parent from Spruce Mortgage. Nick is taking the Reilly Team to Leunig's Bistro on Church Street in downtown Burlington today. The highlight of our day - free lunch! We just love it when mortgage brokers take us Realtors out to lunch! Thanks in advance Nick! Thanks in advance to Obama as well!
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