Value of White House Up 7% in Past Four Years

                Value of White House Up 7% in Past Four Years

President's Home Currently Valued At $294.9 Million; Theoretical Monthly Rent
at 1600 Pennsylvania Ave. Estimated at $1.75 Million

PR Newswire

SEATTLE, Jan. 17, 2013

SEATTLE, Jan. 17, 2013 /PRNewswire/ --Since President Barack Obama first
moved into the White House in January 2009, its value has risen approximately
7 percent to an estimated $294.9 million, according to the Zestimate® home
value provided by Zillow®. By comparison, home values for the city of
Washington, D.C., rose 13.6 percent during the same period.

Zillow calculates the value of the White House as if it were a home that could
be bought and sold, using the proprietary Zestimate algorithm, which
determines a home's estimated worth based in part on public data and recent
sales.

When the Obama family moved into the historic home at 1600 Pennsylvania Ave.,
it was worth an estimated $275.6 million. In Washington, D.C., as a whole, the
Zillow Home Value Index^i (ZHVI) rose almost 13.6 percent – to $397,000, from
$349,600 – between January 2009 and November 2012, the most recent month for
which data is available.

Nationally, home values fell roughly 5.3 percent over the same period, to
$156,200 in November 2012 from $164,900 in January 2009. But over the past
year, national home values rose 5.2 percent between November 2011 and November
2012.

The White House's value peaked at $299.9 million in July 2006. Its most recent
low came in August, when it fell to an estimated value of $271.1 million.

"The White House is more than just a home; it's a symbol of America. And just
like the American housing market, its value has had its share of ups and downs
over the past few years," said Zillow Chief Economist Stan Humphries. "The
White House's appreciation over the past four years failed to match that of
the city of Washington, D.C., overall, but that's because the city of
Washington as a whole outperformed the immediate neighborhood surrounding the
White House. Value growth of 7 percent since early 2009 far exceeds the
national average over the same period, and most homeowners would be quite
pleased with a 7 percent return on their investment since 2009."

Were a potential buyer to take out a standard 30-year, fixed-rate mortgage on
the White House today (assuming 20 percent down and a 3.276 percent interest
rate), the monthly payment (including taxes, insurance, principal and
interest) would be $1,130,832, according to Zillow.

If the Obamas decided to rent out the White House to another family, tenants
could expect to pay more than $1.75 million per month in rent, according to
the home's Rent Zestimate.

To determine the White House Zestimate, Zillow's team of data statisticians
first looked at the home's physical characteristics, including 55,000 square
feet of indoor space, 132 total rooms, 35 bathrooms, 16 bedrooms, three
kitchens and 18 acres of premium, downtown Washington, D.C., land. They then
considered the most expensive home sales in Washington, D.C., as well as other
historic homes in the D.C. area recently for sale, and calculated the amount
historic homes typically fetch over similar homes with no historical
significance. Zillow's statisticians deemed the White House the most historic
home in America and applied a maximum historical premium to their models to
determine its Zestimate value.

About Zillow:
Zillow (NASDAQ: Z) is the leading real estate information marketplace,
providing vital information about homes, real estate listings and mortgages
through its website and mobile applications, enabling homeowners, buyers,
sellers and renters to connect with real estate and mortgage professionals
best suited to meet their needs. In addition, Zillow operates an
industry-leading economics and analytics bureau led by Zillow's Chief
Economist Dr. Stan Humphries. Dr. Humphries and his team of economists and
data analysts produce extensive housing data and research covering more than
350 markets at Zillow Real Estate Research. Zillow, Inc. operates Zillow.com®,
Zillow Mortgage Marketplace, Zillow Rentals, Zillow Mobile, Postlets®,
Diverse Solutions®, Buyfolio™, Mortech™ and HotPads™. The company is
headquartered in Seattle.

Zillow.com, Zillow, Postlets and Diverse Solutions are registered trademarks
of Zillow, Inc. Buyfolio, Mortech and HotPads are trademarks of Zillow, Inc.

^i The Zillow Home Value Index is the median Zestimate valuation for a given
geographic area on a given day and includes the value of all single-family
residences, condominiums and cooperatives, regardless of whether they sold
within a given period. The Home Value Index at the national level is
calculated using a weighted average of the median home value for each county.
It is expressed in dollars and is for a particular geographic region.

SOURCE Zillow

Website: http://www.zillow.com
Contact: Cory Hopkins, Zillow, +1-206-757-2701, press@zillow.com