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The former home of Senator John McCain and his wife Cindy in Phoenix, Arizona will be going to auction on 25th October 2008 with a listing price of $US12 million.

The existing owner, real estate developer Jane Popple, is hoping that that the prospect of owning a prospective President’s home will tip the balance in achieving a great price and indeed buck the current trend in a tough market.

The house in North Central Phoenix, which is certainly fit for a long-term Senator, 13 bedrooms, 14 bathrooms, and a seven-car garage.

The home was Cindy McCain’s childhood abode and she and John McCain called it home for 20 years. Having purchased the property in 2006 for $US3 million, a $US9 million profit in current conditions would certainly be something of Presidential proportions. Will the result of the auction campaign mirror the Republican Candidate’s presidential campaign? We’ll know soon enough.


Simon Turner

FYI: Watch the video tour of the McCain’s former home & read more articles about the Presidential race & see our current Luxury Homes

As part of our experience in the United States on this occasion both Simon and I found ourselves in the middle of a massive political rally in Philadelphia. With the Presidential Election only a few weeks away campaigning is in full swing throughout the country and some States have even started voting – although the results of the early voting will not be announced until official counting begins on election day (Nov 4, 2008).

As an Australian it was amazing to witness the passion of supporters for Barack Obama and John McCain and the extent to which they express their feelings. The Vice presidential candidates were also receiving plenty of attention with Sarah Palin opponents holding up signs, wearing anti-Republican t-shirts and printed with all sorts of slogans as well as chanting in unison.

I have never seen such passion for any election in Australia and although Police were on hand the rally remained no-violent – just very loud! Before leaving Philadelphia, we also witnessed the Hillary Clinton machine roll in and out of town – yes, she’s still going – and Simon and I visited the Liberty Bell which is a symbol for freedom for all people in the United States. The protests, rallies and the individuals mentioned are crystal clear evidence that the symbolism of the liberty bell is alive and well.

We were also fortunate enough to visit several properties throughout the city with Luxury Brokers who are part of the Who’s Who in Luxury Real Estate and compared the pricing of property in Philadelphia with that back home in Australia. Without hesitation Sydney is a far more expensive city for those looking to purchase real estate, showing the importance of property to Australia when considering both wealth creation and housing affordability.

Whatever the result of the Obama versus McCain election in the US , I believe Australia is well placed for buyer confidence to recover quickly after the stunning 1% (100 basis points) decrease in interest rates by the Reserve Bank and the overall health of the Australian financial system. The freedom’s, liberties and luxuries that we all enjoy show few signs of fading!

 

Michael Marquette

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