Inaugural Rentals Begging For Takers

[DainBramaged]

Across the Washington region, dreams among homeowners of a quick and easy payday are evaporating as the days tick down to President-elect Barack Obama's swearing-in ceremony Jan. 20: The inaugural housing market has gone bust in record time.

Those who listed their properties within a week or two of Obama's Nov. 4 election victory were able to score deals, but those who jumped on the bandwagon after that have largely been left without offers.

Take Tim Tate, for instance. When he heard that a neighbor had rented out his condo in the trendy Mather Studios in downtown Washington for $3,000 for inauguration week, he and his friends hatched a plan to rent out their own units and use the profits for a week-long jaunt to Morocco.

But nearly two months after listing his condo on an inaugural housing Web site (one bedroom, one bath, $2,000 for the week), Tate has gotten nary a nibble. Neither have his friends. He dropped the price twice. The only inquiry came from European parents who wanted to rent it for their daughter's semester in the District.

"We all started to list, and then the silence ensued," said Tate, a glass artist and founder of the Washington Glass Studio.

http://www.washingtonpost.com/wp-dyn/content/article/2009/01/08/AR2009010803605.html?hpid=topnews

[redstate_democrat]

1. The early bird gets the worm.

:P

[Jennicut]

2. $3,000 for the week?! That is a Disney vacation at a real nice resort.

[DainBramaged]

3. The greed amazes me, but doesn't surprise me

[KittyWampus]

4. As a landlord, my philosophy is: don't be greedy. It's better to get a great tenant

even if it's only for a week or two and make less money than it is to get someone with no respect for property who's willing to pay a lot.

Many people think "I spent $3000 for ONE week, I'll do what I like". Then they leave a mess and steal all the toilet paper and even the sugar in the sugar bowls.

[DainBramaged]

8. No one thinks "Democrats are POOR not spoiled rich people"

We pack lunch, ride bikes, hitchhike, buy at the thrift stores, and some of these people wanted $1500 a night? I could get a call girl who would install her own trapeze for that kind of money.

[here_is_to_hope]

9. Um, you mind sharing that number? n/t

[Berry Cool]

10. DUzy!!!

:rofl:

oh, and can I sell tickets????

[smalll]

5. Not surprising at all. What with Barack picking Gupta to be Surgeon-General, and his Dean-snub,

the real surprise is that any Democrat in America is still supporting him. I'm sure that most of those still planning to go to the inauguration now intend to protest the Gupta/Dean atrocities.




( Yes, :sarcasm: )

[AtomicKitten]

6. Some asking prices were outrageously greedy.

[Laura PourMeADrink]

7. Thanks. this was so interesting since I've been looking

for a place to sublet. There are hundreds and hundreds - most all well above 500/night. It is a buyers market - but like they say - there is a breakeven - where the seller will think it's not worth it.

[PurityOfEssence]

11. People are fickle and broke

He's still going to be quite a draw, even if it is a little less than the second coming.