Posted on 07/11/2009 8:34:55 AM PDT by zeestephen
Zillow.com estimated that the White House — if it was put on the market as a residence — would be valued at about $308 million. But the estimated value has fallen about 7% or $23 million from a year ago...The 55,000-square-foot White House has 132 rooms, 35 bathrooms, 16 bedrooms, 3 kitchens, and 18 acres of land in downtown Washington, the Web site said...Zillow estimated that one would need to earn $55.3 million a year to afford a 30-year fixed-rate mortgage for the house. And by the way, the 20% downpayment would be $62 million.
(Excerpt) Read more at businessweek.com ...
It’s not for sale, but the Obama family is moving into what could be the nation’s most expensive home, according to Zillow.com
Zillow estimated that the White House — if it was put on the market as a residence — would be valued at about $308 million. But the estimated value has fallen about 7% or $23 million from a year ago.
The Zestimate took into account 1600 Pennsylvania Avenue’s physical attributes, recent comparable sales and local market trends. The 55,000-square-foot White House has 132 rooms, 35 bathrooms, 16 bedrooms, 3 kitchens, and 18 acres of land in downtown Washington, the Web site said.
“Zillow’s statisticians deemed the White House the most historic home in America and applied a maximum historical premium to their models to determine a Zestimate value today of $308,058,000,” the Web site said.
Zillow estimated that one would need to earn $55.3 million a year to afford a 30-year fixed-rate mortgage for the house. And by the way, the 20% downpayment would be $62 million.
I thought the White House cost Obumber and Soros $600 Million, plus McLame’s wad, and all the other folks.
Just having the mother in law in the house, the price will drop another 15%.
Warning:
Over the next 8 years property taxes may total $10 trillion.
Pretty cool site, I just looked up the home we are buying and saw what all the homes around it sold for..
Don’t forget that “mixed neighborhood” thingie that can’t be spoken of...
Thinking the same thing. Do you think it will get "Red Lined"?
George Soros picked it up for about a billion. But, he got the most powerful military on the planet thrown in on the deal...
“Don’t forget that “mixed neighborhood” thingie that can’t be spoken of...’
I know, but there is nothing we can do about all the whites in the neighborhood.
“George Soros picked it up for about a billion. But, he got the most powerful military on the planet thrown in on the deal... “
And also thrown in the deal, was a President to be his personal servant!
Oh yeah. And GM...
Zillow is a good, informative site. I look at it often.
Oh, but just wait — It’ll surely go up in value once he starts adding all of those “green”-friendly gadgets: nifty mercury-filled bulbs, solar panelling, etc.../sarc
The Aaron Spelling estate has more square footage and is in a nicer area.
But I think one might have a better security system. The Palins will be moving in there in about 3 1/2 years.
It’s in a bad neighborhood surrounded on three of four sides by grifters, flim-flam artists, lawyers, journalists, and all other forms of con men.
Also the neighborhood is filled to the brim with community activists and their clients “the homeless.” The park directly across the street (Layayette Sq.) is a thriving mecca for drunks, bums, and junkies, as is the Murrow Park at 18th and H and also at McPherson. In fact every public space surrounding the White House is “bum central.”
Definitely an unsavory area.
Take Zillow’s numbers with a HUGE grain of salt. They have some accuracy with a cookie cutter home located in a homogenous tract home developement, otherwise they can be off values by 30-50% in a community that is diversified eg a beach house is often valued the same or even less than an identical property across the street but not on the beach
:-> Which is exactly what we are buying.
Biltmore House in Asheville, NC is much nicer.
Also, remember the realtor’s mantra, Location, Location, Location. Having lived in DC for 9 years as a kid, I’d say that Biltmore house wins hands down.
Yeah, but heck, you’d have to live in DC!!!!
You’d have to disarm yourself. And in that place, it is not a good option.
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