On the eve of President-elect Obama’s historic inauguration, we turn our attention to perhaps the most historic home in the country- the White House. If a Realtor were to write up a classified ad, it might read something like “Well-Maintained 16 bedroom, 35 bath colonial on 18 acres in the heart of the downtown historic district offers 19th-century charm with today’s conveniences. With 55,000 square feet and 132 rooms, this spacious house offers lots of space to spread out in and plenty of closets. Amenities include a heated swimming pool, bowling alley, movie theater, putting green, tennis court, and jogging track. West Wing features attractive office space. Offered at…..$ …”
What would the White House be offered at ? Well, the folks at Zillow were curious, too. A couple of weeks ago, they applied the formulas they use for computing the value (or “Zestimate”) of residential houses to 1600 Pennsylvania Avenue and came up with the enormous value of $308 Million. The White House has not been immune to the decline in the real estate market, though- The value last year at this time was nearly $331 Million, a drop of 7.2 %. Things don’t seem to be improving- I checked a few minutes ago and the value had dropped to about $300 Million even. We’ll see if that changes any after tomorrow. Check out Zillow’s rationale for the White House Zestimate, and if you’d like more information about the house President Ford called “the best public housing I’ve ever seen,” visit the impressive White House Historical Association’s site.
Zillow has also compiled a list of other Famous Homes of U.S. Presidents. You’ll find Barack Obama’s Chicago Home, complete with an aerial view, and a Zestimate of $1.5 Million. President George W. & Laura Bush’s 3 bedroom 2400 square foot starter home in Midland Texas is listed and it’s actually for sale for just $200,000 ! Other more historic homes are there, too- the boyhood homes of Harry Truman & John F. Kennedy, James Madison’s Philadelphia townhouse, the famed Chester Arthur’s New York rowhouse, the Kennedy compound at Hyannisport (Zestimate just short of $7M), and more.