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.