Even some Presidents were affected by the housing crash … yet more New Yorkers plan to buy homes

By
Real Estate Agent with Halstead Property, LLC

U.S. presidents live in homes that most people dream about. Yet, according to Forbes Magazine, it seems that a few presidential manses have shed value in the economic downturn.

Zillow reported that the value of President Obama's home in Chicago is off by 20%.

Even the value of Camelot, the Kennedy compound in Hyannis is reported to be down 25% to 30%," says Amy Massey-Weider, who runs the Century 21 Shoreland real estate brokerage in nearby Hyannis. The news is good for those who dream of buying a little slice of the shores where the Kennedys live and play.

Here is Forbes' List of 5 Presidential Homes Hit By The Housing Crash

1. Kennedy compound in Hyannisport, Mass.
Details: Three key homes on six acres of land on or adjacent to the water
Current value: $11.2 million
Change from peak: Down 20%

2. Ronald Reagan's home in Bel Air, Los Angeles
Details: 7,200 square feet, three bedrooms
Current value: $7.1 million
Change from peak: Down 40%

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Rainmaker
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Allen Tate - Concord, NC

It is interesting to learn that the economic turndown is no respector of anyone---even Presidents.

Jun 12, 2010 09:28 AM #1
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