There is a an Urban Legend, perpetuated by the local press, that the day after a new President is elected real estate agents around the Washington D.C. metro are immediately called in to action helping the incoming and outgoing political players buy and sell real estate.

I am curious if any of you have seen, or experienced in the past, this phenomenon.  It would be interesting to know, too, if people are more likely to rent, or rent out, their properties this time given the current state of the national real estate market.

I do think that while  people grew tired of the election, or were so involved that they could think of nothing else,  it was very 'all consuming' for everyone. Now that it is over, as is the uncertainty about who will be President,  I would expect to see buyers and sellers getting on with their lives and start to make plans to buy or sell homes.  Despite the current condition of the economy, there are valid reasons for people to move now--as there always are.  After several months of sitting tight, I have seen people begin to write contracts and talk about listing properties again.

It is a great time to buy a property. Sellers may be discouraged with lower sales prices, but should be encouraged that the buyers who are out there are both serious and motivated. Further, while they may recognize a lower sales price, they are likely to be able to buy more property for their money at the same time.

Do you see a 'bump' in your local market or personal business?