Former Treasury Secretary Timothy F. Geithner’s home was listed in Bethesda, Maryland on March 15, for $995,000, and the sale went pending only six days later. It is currently under contract with some contingencies but isn’t dependent on a buyer selling a current house to close the deal. It’s a sign of the times; as Redfin recently reported, many homes in today’s market are being sold in 24 hours or less.
If Geithner gets his asking price, he’ll make only $45,000 from sale; he paid $950,000 for the home in August 2009, during the tail end of the real estate bubble. His home, listed by Matthew Maury of Stuart & Maury, Inc., is pretty standard for the area; the 2,537 square foot rambler has four bedrooms and 2.5 baths. The kitchen features stainless steel appliances and Corian® countertops, and opens to a living room with cathedral ceilings. Outside, there’s a large deck that overlooks the private backyard.
In January Geithner announced that he would be stepping down as Treasury Secretary, and in February it was revealed that he’ll be joining The Council on Foreign Relations, a nonpartisan think tank in New York, which is likely why he listed his home.
Geithner owns another home in Larchmont, NY, which he is currently renting out. He listed the home in February 2009 for $1,635,000, but according to CNN he decided to rent it when he couldn’t find a buyer.
As Politico reported, Geithner was a key player in many of the Obama administration’s early policy decisions about how to end the 2008 financial crisis and jump start the economy. The administration’s efforts to aid struggling homeowners was a sore spot among liberal democrats, who believed Geithner could have done more.
In May 2012 protestors from the National People’s Action and the National Domestic Workers Alliance marched to his home in Bethesda, but got no response when they knocked on the front door. According to The Huffington Post, the demonstrators tried to deliver a letter to Geithner demanding a financial transactions tax, principal reductions for underwater homeowners and an investigation of the bankers who caused the mortgage crisis.
Be sure to check out the Redfin listing page for additional information and photos of Geithner’s Bethesda home.