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Gavin Newsom sold his Sacramento home for $7.5million on Monday — nearly double the price he paid for it seven years earlier.
Newsom and Jennifer Siebel Newsom, his wife, announced in 2019 that they bought the 12,000 square foot residence located in Fair Oaks. Fair Oaks is only 15 miles away from the Capitol. The sale of his house comes four months before his end-of-term as Governor and his expected run for the presidency.
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Newsom purchased the suburban mansion to avoid the 150-year old property, which was the residence of 13 former governors. Most recently, Jerry Brown moved in to the house in 2015, after it had been used as a museum. Brown moved into the Victorian three-story home following a $4,000,000 renovation that updated electrical and plumbing. Ronald Reagan was the last Governor to reside there prior to Brown. He lived there for just a few weeks in 1967.
Newsom stated that he chose to not live in the governor’s official mansion because he wanted to be closer to his children. Fair Oaks’ seven-bedroom mansion has a wine cellar with 5,000 bottles, a pool in a resort style, and tennis courts. At the time, he paid $3.7 million for it.
Matthew Hindy is a real-estate agent at Nick Sadek Sotheby’s International Realty which lists the property. When SFGATE contacted him, he declined to make any comments.
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The governor’s wife and children are moving 90 miles to the west, to Marin County. They lived there before Newsom was elected. They bought a house in Kentfield, California for $9,000,000. Politico stated that their original plan was to keep the Sacramento house and divide their time between the two places. Their plan was to also enroll their oldest daughter in high school, as a freshman. According to this outlet, their children are now all enrolled at school in Marin County.
The family purchased a house in Marin County in 2024 to ensure continuity in their children’s educational experience. Izzy Gardon is a Newsom spokesperson who told SFGATE that the sale of the family’s Sacramento house was the next phase in this transition. It was not clear from the office whether this meant that Newsoms had already moved to Marin full-time.
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They had owned their home in Kentfield before, and raised their children there until Newsom became governor. In 2011, they bought a home of 1,800 square feet with a beautiful view of Mount Tamalpais. After he was elected lieutenant-governor of California, he bought the house for $5.9million.
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Newsom becomes the third governor in a row to divide his time between Sacramento, California and another area of the state. Brown commuted to Oakland from Los Angeles for part of his tenure, while Arnold Schwarzenegger did the same.

Treasury Secretary Scott Bessent stated on Monday, that regular Treasury auctions for U.S. Debt will continue as usual. This follows his announcement of an increase in size of the buybacks of securities with longer maturities.
Bessent addressed a Monday press conference in which he discussed a plan to “economically asphyxiate” the Iranian regime by implementing secondary sanctions against Iran’s trading partner.
The Treasury Secretary was asked during the press conference if the agency would reduce the auction size for long-term bonds in the future or if other tools from the toolbox of the Department could be used to lower the yields.
We will continue our normal program of auctions. Bessent stated that you would hear from us at the start of next quarter. In response to another question, he added that “we haven’t purchased a single Bond yet.”
The Treasury Yields Hit Multi-Decade Highs Amid a Surging National Debt
Bessent pointed out that auctions for longer-dated Treasurys such as 10-year notes and 20-year and 30-year bond are not scheduled until September, which would be the latest the new structure of buybacks could enter into effect after Sept. 9th.
The Treasury announced the changes on August 19, which increased the maximum authority for buybacks by at least $2 billion. This will allow buybacks of any size to be based upon market conditions.
Treasury is expected to provide additional information on future buybacks after Nov. 4.
Treasury stated in its announcement, “the increase in buybacks reflects Treasury’s desire to provide more liquidity support in long-dated nominal sector where market participants consistently sponsor the sectors. This is evidenced by the large volume of quality offers Treasury receives regularly in the longer-dated purchase operations.”
US DEBT HITS 40 TRILLION MILLIONE MILESTONE FIRST TIME EVER
The announcement last week lowered the yields of 10-year Treasury notes and 20-year and 30-year bond for a brief period, but they had largely reversed these declines at the end of the previous week. On Monday, yields declined modestly.
Bessent stated last week that higher buybacks were intended to provide liquidity for a less liquid segment of the market. This is particularly true in the 30-year-old sector. The longer-dated Treasurys also compete with the heavy issuances of corporate bonds, which are higher in yield, amid AI buildout.
Treasurys with higher yields may put fiscal pressure on the government as it is required to pay more in interest for servicing the national debt. Last week, the U.S. national gross debt reached $40 trillion.
BESSENT LAYS OUT THE 5 PRINCIPLES DIRECTING TRUMP ADMIN’S APPROACH FOR ECONOMIC STAFFCRAFT
Treasury Department did not specify the source of funding for Treasury buybacks in its announcement. The Treasury General Account at the Federal Reserve, according to a Reuters article, could be used as a funding source. This would eliminate the need for new Treasury bills with shorter maturities and would not eat up the country’s reserves.
TGA is the Federal Government’s Checking Account. It’s what pays for all of its daily operations, including federal employee salaries, government contracts, and Treasury’s principal and interest obligations.
The TGA had about $940 Billion in funding as of Wednesday. Treasury has bolstered the TGA in order to pay some of the $166 Billion in refunds due to importers following a Supreme Court decision that invalidated a major portion of Donald Trump’s Tariff Regime.
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The TGA had an average of $840 billion in the last year. This was its highest balance ever, excluding the rapid increase during the COVID-19 Pandemic.

Buc-ee CEO said recently that Buc-ee may have stopped looking at blue districts. He stated some communities did not appreciate the services Buc-ee offers, while conservative states provide business-friendly values and family-oriented values.
Arch Aplin III (co-founder and president of Buc-ee) made these comments at the opening ceremony for the newest Buc-ee location, in Benton Arkansas, on August 17th. This chain is well-known for its large gas stations, clean bathrooms and food options.
We have many opportunities. We’re growing. In many places, we’re expanding. Aplin added that when you come across a state which is conservative and business friendly, with an excellent workforce, this makes a big difference.
Aplin criticized the states that he claimed do not appreciate what Bucee’s offers to their local communities and suggested that Bucee’s would prefer to focus its expansion effort elsewhere.
BUC-EE’S OPENS FIRST ARKANSAS LOCATION AS CHAIN EXPANDS OVER US
He said, “I am starting to realise that life is too short for me to continue to work in places where the people are not appreciative of what I’m bringing. Instead, why not build here? Here people appreciate your efforts.”
Aplin stated that conservative states usually promote policies aligned with Buc-ee values such as family-friendly business practices.
He said: “That concept of conservative, family-oriented, business-friendly leadership works much better when it comes from top leadership at the Governor’s Office, Congressman, Senator, Mayor, and Representatives.”
Aplin cited Benton, a city with a business-friendly atmosphere that helped Buc-ee open its newest store.
He said, “What we discovered when we arrived in Benton is that it’s a town which encourages business.”
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Buc-ee’s, founded in 1982 operates large travel centers with 74,000 sq. ft. of floor space and up to 120 gas stations. According to the company, these locations create over 200 jobs.
According to its website, Buc-ee’s has currently 58 stores, 37 of which are in Texas.
This chain now spans 13 states: Alabama, Georgia Florida Kentucky Tennessee Arkansas Arizona Colorado Mississippi Missouri Ohio South Carolina Virginia
Buc-ee’s is located in almost all cities that are conservative. There are a few notable exceptions, where the local politics are more diverse.
Auburn, Alabama is an example of a college city located in a county that’s dominated by Republicans. This gives it a political environment more mixed than other nearby communities.
Brunswick, Georgia has a Democrat-leaning municipality despite its location in Glynn county, which is generally Republican.
Goodyear is a suburban community that’s become more competitive in recent elections. It’s located in West Valley, Maricopa County. This region has traditionally been Republican, but it has grown increasingly competitive.
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Buc-ee’s is planning to expand in the next few years. A travel center will open on November 16 in Murfreesboro (Tennessee).
In 2027 six new locations will be opened, including Ruston in Louisiana, Kansas City in Kansas, St. Lucie in Florida, Boerne in Texas, and Monroe County in Georgia.
In 2028, two additional sites are being planned in Mebane (North Carolina) and Lafayette (Louisiana).

Gov. Gavin Newsom, his wife Jennifer Siebel Newsom have listed their Sacramento area home for sale at twice what they paid 8 years ago.
Zillow’s real estate listings show that California’s first couples listed their 12,000 square foot Fair Oaks house for sale at $7.5 Million on Tuesday.
This secluded house at 7640 Tobia Way is situated on eight acres of land and was used for events such as a holiday party, which reportedly annoyed neighbors within the gated Northern California community.
According to the listing, this 7-bed 12-bath home “offers a unique combination of comfort and ease in entertaining with its resort-style swimming pool, tennis court and casita. It also has a 5,000 bottle wine cellar and a private casita.”
The listing states that the bathroom’s main suite is a “destination unto itself” and offers a “spa like experience.” This includes a private outdoor pool with a resort-style, a cold plunge and a hot tub.
The lush, “meticulously-landscaped” grounds feature a variety of trees, as well as sweeping views from its location on the bluff next to the American River.
They bought the Fair Oaks home for $3.7million in 2018, through an LLC linked to Newsom’s cousin Jeremy Scherer who was employed by the PlumpJack hospitality company.
According to the tax returns that were released in October, Newsoms’ earned $1.7-$2 million per year between 2022-2024.
This was a combination of the income generated by his wine business, his government salary (roughly $200,000) and income earned through his wife’s non-profit.
Newsom, the California governor who revealed federal investigators had been investigating his family members and friends in a “political hit-job”, questioned this couple’s financial situation.