The Larsen company of Arizona has a piece of property up for auction in Phoenix on the 25th of this month.

The property in question is 7110 N. Central Avenue in Phoenix, Ariz, consists of 15,000 square feet of livable space with 13 bedrooms, 14.5 baths and garage space for 7 cars on 2.7 acres. Recent  additions include the plush theater room and large exercise room.

I am struggling to work out just exactly what extra value comes from having once been owned by the McCains, but this property is currently listed for $12 million with Sotheby’s International. Mr. and Mrs. McCain sold the property just two years ago at the height of the housing bubble for $3million. Which makes perfect sense to me - a senator in the know should be able to gauge these things fairly accurately.

The current owner, property developer Jade Popple, has apparently poured another $3million in renovation work into the property, and the property is somehow now worth $12 million? Wishful thinking? Time will tell. Don’t get me wrong - this is a lovely piece of property, but……..

If you are interested in owning a piece of “history,” this is the auctioneers website with full details of the sale:

homeslarsen.com

As the personal and financial lives of the three presidential candidates come under scrutiny, it appears that some candidates are more well-funded property-wise than others.

Well, more well-funded than Barrack Obama that is. Senator Hillary Clinton and Senator John McCain are sitting on substantial property investments and have both made considerable gains over the last few years.

The Clinton family owns possibly the most luxurious property of the three,  in Westchester county, New York. A five-bedroomed, Dutch Colonial revival house sitting on 1.1 acres in this NY suburb. They paid $1.7 million for the property in 1999 and it is now valued at approximately $2.6 million.

They also own another property in Washington, a six-bedroomed, 5,000+ square feet home in a residential neighborhood off Observatory Circle in Northwest Washington, along with a 2,000 square foot apartment at the top of the William J. Clinton Presidential Center in Little Rock, Arkansas. Hard to value this one as it is unlikely ever to come on the market.

Leading the Presidential property race is Senator McCain. The McCain family owns at least seven properties: a $4 million getaway in rural Arizona, three condominiums in Phoenix, two condos in California and another luxury condo in Arlington, VA. The McCain’s luxury property is all owned by Mrs. McCain or trusts in her benefit (far be it for me to mention the words “tax avoidance,”) who is heir to a beer-distribution fortune.

Their primary residence is a 6,500 square foot condo in a 90-unit development in Phoenix, AZ. The development includes such luxuries as a roof-top pool, valet parking and gymnasium. Not their best investment to date as prices have dropped recently, Phoenix being one of the casualties of the subprime debacle. This could, of course, be fixed with some judicious manipulation of the banking regulations should Mr McCain get the opportunity.

Clear loser is Senator Obama, with a single property, a 6,500 square foot, Georgian-revival home near the University of Chicago. The Obama’s paid $1.65 million for the property in 2005, and the current value is an estimated $1.8 million, barely enough profit to cover the property taxes.

Based on their property holdings, it seems clear to me the likely winner of this year’s Presidential election. We will just have to wait for November to find out. In the meantime, here is the house they all want next time around. Although, I wonder if Senator Clinton wins. Will Mr. Clinton be known as “The First Gentleman”?

I would think he already blew that one (sic).