The bubble burst on real estate, and even the most unique properties have lost their value. Even this one: 132 rooms, including 16 bedrooms and 35 bathrooms, with 28 fireplaces, a tennis court, a bowling alley and an attached garage spread out over 55,000 square feet on 18 acres of prime metro land.
The property value of the White House has lost nearly a quarter of its value over the last three years, according to the real estate site Zillow. In the last month alone, the White House's estimated property worth has dropped nearly $5.5 million. Note to self - do not list my condo on Zillow when I plan to sell.
At the height of the 2007 housing boom, the White House was valued at roughly $332 million. In January 2009, when President Obama and his family moved in, the fair market value would have listed it at $292 million. Now Zillow says the property is worth just $252 million, including redecorating the Obamas have done since moving in. Obviously, it's still a hearty gain from when it was built, reportedly at a cost of $232,000 - roughly $3 million in current dollars.
The property value of the White House has lost nearly a quarter of its value over the last three years, according to the real estate site Zillow. In the last month alone, the White House's estimated property worth has dropped nearly $5.5 million. Note to self - do not list my condo on Zillow when I plan to sell.
At the height of the 2007 housing boom, the White House was valued at roughly $332 million. In January 2009, when President Obama and his family moved in, the fair market value would have listed it at $292 million. Now Zillow says the property is worth just $252 million, including redecorating the Obamas have done since moving in. Obviously, it's still a hearty gain from when it was built, reportedly at a cost of $232,000 - roughly $3 million in current dollars.
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