15 Old House Lane
Dateline: 09/07/99
 |
|
Clintons
new "White House" in Chappaqua New York.
|
The buzz has begun. After a fair amount of home searching, the Clintons finally settled on a meticulously maintained and remodeled, 100 year old home in Chappaqua, N.Y.
Not expected to close until November, reports say the Clintons paid around $1.7 million for the white Georgian-style colonial home located about an hour from Manhattan.
Sitting on approximately 1 acre of land, the home is nestled on a cul-de-sac and features a stone fireplace, arched windows, a swimming pool, 11 rooms, and lots of Republican neighbors. There is also a 2-car garage, a park-like yard, and a golf course nearby.
As the media and the curious gather to take a peek at the new home of the Clintons, the neighbors are a little concerned about the increased traffic into their community, but most welcome the first couple with open arms.
According to ABC News;
"The Clintons paid slightly more than the asking price of $1.695 million, which White House spokesman Jake Siewert attributed to the New York real estate market.
They will pay $350,000 down, just over 20 percent, out of the family's blind trust, the White House said. They will borrow $1.35 million from Bankers Trust Company. Democratic party fund-raiser Terry McAuliffe, with whom President Clinton was golfing Thursday, will co-sign the loan to guarantee payment."
Although the Clintons won't be leaving Washington until January of 2001, the expected closing date on the home is November 1st and the current owner plans on moving in around 60 days.
The impact on the local real estate community will remain to be seen. Some believe that it will help to drive up the real estate values in the area because of the new neighbors, but that isn't always the case. When Richard Nixon moved out of the White House into a small community, the same speculation swirled, but it never materialized.
So enjoy your new neighbors Chappaqua, N.Y., and enjoy your new place in the spotlight.
©House Picture Copyright ABC News. All rights reserved.