HOW IS THIS FOR A PRICE DROP? DOWN APPROX $42 MILLION – THE WHITE HOUSE

by admin on January 21, 2010

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Yes sir, even the White House it not immune to the Financial Crisis and loss of value. According to Zillow and their Zestimate, the white house is down about $42 million since its peak in January 2008. I thought this was interesting, funny and ridiculous. After all, who would pay $291 million for the white house??? No one? Therefore how can that be the value or zestimate? I was turned onto this information by the guys at Think Big Work Small, Frank and Brian, they put on a great show. If you have not seen it, http://www.thinkbigworksmall.com/mypage/player/tbws/22296/1457274 there you go!

A little more information about the White House, did you know:

1600 Pennsylvania Ave NW Washington DC 20006

16 beds, 35.0 baths, 55,000 sq ft

Zestimate^®: $291,386,000

A Zestimate home valuation is Zillow’s estimated market value. It is not an appraisal. Use it as a starting point to determine a home’s value.Down payment:

20% ($58,277,200)

Estimated payment: $1,231,352

Home Description:

Built in 1792, this magnificent 132-room mansion is the rarest of homes in the U.S. since it is not only the residence of the U.S. president and his family, but it also has two wings with offices for the president, the First Lady, top staff and aides. Designed by Irish architect James Hoban, it was built during the Federalist period (late 1780-1830), but is considered Georgian in the Palladian style with neoclassical influences. After the cornerstone was laid on October 13, 1792, it was built by slaves, free African-American laborers, immigrants, and salaried Europeans. Second President John Adams and his wife, Abigail, took occupancy on November 1, 1800. Made from sandstone, brick and wood, the White House was composed only of the “Residence” and was completed for a cost of $232,371.83. There are three parts to the White House: The Residence (where the First Family resides), the West Wing (Oval Office and top executive offices) and the East Wing (First Lady and offices for her staff). The Residence contains 6 levels: the sub-basement (storage, laundry); basement (Diplomatic Reception room, Map Room, kitchen, curator’s office, dentist’s office, one-lane bowling alley); first floor (the “State Floor” contains the Red Room, Blue Room, Green Room, East Room, State Dining Room, and Family Dining Room); second floor (the “Family Residence” contains the master bedroom, Lincoln Bedroom, Queens’ Bedroom, Yellow Oval Room, Truman Balcony), and the third floor (rec, music, and sun rooms). The West Wing contains the president’s office, the Oval Office and the Situation Room. There are three levels: the basement (Situation Room, Secret Service Offices, Press Corps Offices); the first floor (Oval Office, Vice President’s Office, Chief of Staff Office, Roosevelt Room, Press Briefing Room), and the second floor (offices of the president’s staff). The East Wing houses the First Lady’s office and those of her staff. It is also where the underground bunker is located.

Thanks to Zillow for this information. http://www.zillow.com/homedetails/1600-Pennsylvania-Ave-NW-Washington-DC-20006/84074482_zpid/

Tagged as: 1600 Pennsylvania Ave NW Washington DC, financial crisis, frank Garay and Brian Stevens Think Big Work Small, Homes for sale, Jeff Cameron, White House