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The White House is Over Priced

By
Mortgage and Lending with Mortgage Magic
The White House has gone up $100,000,000 since I first wrote about it in 2007. This home was built in 1792 and has 132 rooms, 35 bathrooms and sits on 18 acres. Zillow values the home today at $382,317,693 which I feel is too much. The home is overbuilt for the area when surrounding homes price out at $511,200. 
 
Hearst Castle which sits on 127 acres and overlooks the Pacific Ocean from a mountain top. Better location and more reasonably priced at $190,000,000.
 
Palazzo di Amore in Beverly Hills is for sale for $195,000,000. This home is 53,000 square feet and has 12 bedrooms and 23 baths but only has 25 acres. So it is a tad on the small size - good for the starter home.
 
Because of location and being overbuilt I would comp the White House out at $210,000,000 - it is in a bad part of town and maintenance  for a house this old can be a financial disaster.

Comments (1)

Winston Heverly
Coldwell Banker Access Realty - South Macon, GA
GRI, ABR, SFR, CDPE, CIAS, PA

That is a lot to take in given the fact the ones occupying it currently. The next ones to take possesson will probably have to spend millions to fumigate unless the indited one gets there than your dollar bills can be used to supply the wallpaper.

Apr 25, 2016 12:18 PM