Obama Means Money To DC Real Estate Agents

by Deidre Woollard (RSS feed)
Dec 6th 2008 at 7:42PM

Real estate in Washington DC is suddenly looking brighter and there is one reason: Barack Obama. The NY Times has an interesting piece on the pre-inaugural real estate forays of members of Obama's team who may be coming to Washington DC. While Republicans tended to favor McLean, Virginia. Obama's younger skewing team is more urban and headed to both upscale and gentrifying neighborhoods including U Street, Logan CIrcle and Adams Morgan as well as the typically swanky Georgetown and Kalorama. Last week saw the beginning of larger sales, including five houses in Georgetown priced from $1.5 million to $5 million according to Fred Kendrick, a broker for TTR Sotheby's .

Some of Obama's team are in Washington DC already but some are moving in from Chicago. Speechwriter Jon Favreau for example, bought a condominium in the Chastleton, an eight-story Gothic-style luxury building and Ben LaBolt, an Obama spokesman, moved into an apartment several blocks away also near the apartment shared by Katie McCormick Lelyveld, a spokeswoman for Michelle Obama, and her boyfriend, Tommy Vietor, a spokesman for Mr. Obama. While many young Obama team members are renting there is still enough real estate excitement to give a needed boost to the market.

Tags: barack obama, BarackObama, washington dc, WashingtonDc