How the National Election Impacts the Local Tri-Cities Real Estate Market

Posted on 31. Oct, 2012 by in Buyers, Real Estate Industry, Sellers, Tri-Cities Market

I began my career in real estate in 2004.  I remember Election Day that year was also my 13th wedding anniversary.  I grabbed Outback take-out and brought it home.  My husband was spectacular and fed the kids, then made sure they were bathed and dressed for bed. I gave them a quick kiss when I arrived home, tucked them into their beds, and my husband I sat down to watch the results.  Confession: My husband and I are complete nerds when it comes to major televised events.  It’s as much about critiquing the newscasters as it is about gathering information.  We really should live-blog or tweet our thoughts this coming Tuesday.

Anyway, the point of this post is that this year, 2012, marks my third Presidential Election in real estate.  What I noticed in 2008, and noticed again this year, is that the market is dead in the weeks leading up to the election.  It may have happened in 2004, but I was so new to thee business, I didn’t notice then.

It is kind of hilarious, as who occupies the White House has absolutely no bearing on whether the white house with the pretty front garden is the right house for you.  But, there you have it.  That’s real estate in the Tri-Cities during October of an election year.

I have eight listings right now.  Only the brand new one is getting any activity.  No one is “just seeing” what’s out there.  If you’re looking now, you have a deadline or a firm date in your head.  It’s not the time of year to aimlessly shop.  Everyone is much too wrapped up in seeing what happens on November 6.

So, if your house is on the market and you’re not seeing any showings, that is most likely why.  In addition, if you’re thinking of lowering the price, or entering the market, or changing anything significant about your house or its marketing, wait until after the 6th of November.  No one will notice it right now, so it will be a wasted effort.

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