Hank Dugie, Mr. League City (Brockway Realty, LLC)

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Rainmaker
739,392
Ritu Desai
Samson Properties - Ashburn, VA
Virginia Realtor-Fairfax/Loudoun/PW-703-625-4949

I say auction it!! let's see what the China & Russia wants to pay for it :-)

Mar 01, 2015 03:55 AM
Rainmaker
339,098
Chris and Berna Sloan
Group 1 Real Estate - Tooele, UT
Tooele UT

The Seller Property Condidtion Disclosures would be awesome! "Considerable remodeling done in 1814 due to unexpected battle damage, did not have building permit..."

Mar 02, 2015 02:34 AM
Rainer
508,670
S. Leanne Paynter ☼ Broward County, FL
United Realty Group, Inc. - Davie, FL
Davie, Plantation, Cooper City & Weston Specialist

Like the saying goes... if you have to ask the price, you can't afford it.  I think of it as priceless with a HUGE maintenance fee that only seems to increase yearly!

Mar 01, 2015 10:58 AM
Rainer
218,396
Michael Rasch
Florida Home Sales and Investments - Hallandale Beach, FL
Michael Rasch 305-741-1819

Well look at it differently. 18 acre of prime real estate sooo...

lift the building and sell it off, I would safely guess to an American buyer, 80 to 140 million keeping it in the USA. sky's the limit if it goes off-shore

land value ... 18 acres with air rights doing some quick numbers, business park development project, 2 parking spots per 800 sqft of usable space, I'm guessing 400 about million outright buy, or 100 year land lease at 16  million a year +++

 

I used this as my quick comp http://www.cityfeet.com/cont/ForSale/LN19014688/1800-R-Street-Nw-Washington-DC-20009

Mar 02, 2015 02:45 AM
Rainer
3,673
Doug Mellen
Doug Mellen, REALTOR - Austin, TX
Informed Professional Service

I like the answer that refers to the Politico story (thanks Ron, birdhouses rock, I have three in my backyard) that lists the approximate market value at $110M, but because of the historical value, could sell for over one-billion.  Technically, the White House is owned by the American public, but held by the US National Park Service.  I don't THINK they're going to sell it anytime soon, but if they did, and if my math is correct, assuming they got one billion (not counting my commission) the Amercian public would get a little over $3 for every man, woman and child.  Darn.

 

And Ritu, Russia can't afford it anymore, they about as close to bankrupt as Greece.

 

Oh, and for those of you H of C fans who have watched all of season 3 already (NO Spoiler here), I'm still catching up on my sleep). You might be wondering who does the song at the start of the final episode, I was pleased to see them feature a great bluesey song by my favorite Florida-swamp-blues-ghetto-jam-band and one of the finest blues singers out there, JJ Grey and The Mofros.  The song is "The Sun is Shining Down" and you get to hear about half of it while you watch Rachel start her day.

Mar 02, 2015 02:19 AM
Rainmaker
925,644
Ron Marshall
Marshall Enterprises - Saint Michael, MN
Birdhouse Builder Extraordinaire

My answer is.....and I am just picking this out of the sky.....$110 million, but if you don't agree, check this out.  http://www.politico.com/politico44/2012/05/realtor-listing-price-for-the-white-house-would-be-122511.html

Mar 01, 2015 04:20 AM
Rainer
116,950
Bill Morrow
Keller Williams of Central PA - Mechanicsburg, PA
Bill Morrow, Associate Broker

The Dems. will overprice it as it has a current tenant with a two years of a four year lease remaining. The Reps. will try to market it cheap because they know that the eviction of the current tenant will be difficult. My personal feeling is that it would be a difficult sale as there is certainly a lopsided debt structure and a certain short sale.  Geting approval from the multiple leinholders will be all but impossible.  

It certainly is a difficult property to price as it is overimproved for the neighborhood and a residential property in a commercial enterprise zone. Highest and best use would be possibly a high end bed and breakfast or maybe professional offices. DC's zoning might be a challange.

Mar 03, 2015 09:56 PM
Rainmaker
769,173
Bruce Walter
Keller Williams Realty Lafayette/West Lafayette, Indiana - West Lafayette, IN

While not being able to get a firm price on how much it would list for, Bill Clinton did show the commerical value for the property when "renting" out the Lincoln Bedroom for a weekend for a $100,000 campaign contribution.

Perhaps he was on to something and we could turn the WH into a bed and breakfast to defray Executive Department expenses, and the Congress could hold weekend sleep overs for groups to defray the expenses of the Capitol Hill staffers!

Mar 01, 2015 10:27 PM
Ambassador
3,671,820
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

I watched the first two episodes last night.  The price tag for the White House?  It does have a lot of amenities -  ground to air missiles are among my favorites.  I'm not certain how many zeros the number would have.

Mar 01, 2015 12:12 PM
Rainmaker
4,796,409
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Just for grins the Zillow has it as a 16 bedroom 35 bathroom home with 55,000 sq. ft. and a Zestimate of $384.9 million.

Mar 01, 2015 05:03 AM
Rainmaker
353,805
Bill Dandridge
Berkshire Hathaway HomeServices YSU - Durham, NC
GREEN, ABR, GRI, EcoBroker

One billion dollars.

Mar 01, 2015 04:23 AM
Rainer
14,634
Joesph Padovich
Pacific Cove Realty And Loan - Irvine, CA

I would would list it for $1.00 and evict the tenants.

Mar 03, 2015 02:51 PM
Rainmaker
904,186
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

I wouldn't, because it wouldn't sell. Why? They've been doing open houses for years and no takers yet, that's why they keep writing 4 year leases :)

 

Mar 02, 2015 02:00 PM
Rainmaker
622,198
Mike McCann - Nebraska Farm Land Broker
Mike McCann - Broker, Mach1 Realty Farmland Broker-Auctioneer Serving Rural Nebraska - Kearney, NE
Farm Land For Sale 308-627-3700 or 800-241-3940

Thank you to Doug Mellen   for telling me about JJ Grey & Mofu!!  Wow...what a voice and what a song!!  Especially the 10 minute version!!! The guitar rifts were awesome!!  Forgot all about the original question!!  If you like a gravel voice and electric guitar...as well as some horns...and have never heard this... check it out here: https://www.youtube.com/watch?v=7cYRs2SReps   Goosebumps!!

Mar 02, 2015 06:56 AM
Rainmaker
1,431,110
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

Great question and I have no idea.  But it seems to me a the White House and Capitol are bought everyday by K Street lobbyist. 

Mar 02, 2015 03:30 AM
Rainer
7,753
Don Betts
Allison James Estates & Homes - Carlsbad, CA

Given the national debt, this might be a short sale?!

Mar 02, 2015 02:39 AM
Rainer
2,048
Helen Grace
Helen J Grace - Delray Beach, FL

It depends. Is it being sold with a functioning Congress? Would there be a bidding war?  List low to generate interest?  What is the value. Not only China and Russia would bid. What about Koch, Soros and Corporations?What would the replacement cost be since there are no comps, it would have to be a narrative report......a very long one. $110,000 mil is chump change. Homes on Palm Beach sell for that.

Mar 02, 2015 02:30 AM
Rainmaker
1,502,373
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

I've never seen the show, but what a fun exercise. Guess you'd have to tour the place and make good notes before you could go looking for comps. 

Mar 02, 2015 02:24 AM
Rainmaker
371,227
Bandele Oguntomilade, Top REALTOR
Bogun Realty and Luxury Homes - Woodland Hills, CA
Your Woodland Hills Real Estate Agent 818-825-6996

I watched the entire 3rd Season on Netflicks yeaterday and it was a wonderful and effective disctraction from a difficult escrow transaction.  I would not ever list the White House as it is a National Treasure with infinite value that could never be quantified.

Mar 02, 2015 02:11 AM
Rainmaker
1,675,236
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

I haven't seen the inside yet!

Mar 01, 2015 01:04 PM
Rainmaker
585,783
Claude Labbe
Real Living | At Home - Washington, DC
Realty for Your Busy Life

For comparison, there's currently a home, 9 bedrooms, 12 bathrooms, nice grounds.  It's just a few blocks down from VP Biden's place, which should also ensure good security. I've not seen the White House wine cellar nor the gym, so I can't compare.  But it this place is asking $16m, then Ron Marshall 's Politico starts looking like a bargain if you get the White House for $110m.  The Zestimate seems a bit high, but you've got to admit, the views from the White House are surely worth a few $m.

Mar 01, 2015 08:11 AM
Rainer
39,099
Andrew Scherer
Approved Mortgage Group - Doylestown, PA
Real Estate Representation At It's Finest

Haha - what a great hypothetical.  I'd pitch the "auction effect" and list just under $100 mm at $999,999,777.  I mean, if we're just throwing numbers out there :-)

Mar 01, 2015 06:14 AM
Rainmaker
4,277,582
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Hank,

We would need to do a CMA, and it looks like Gabe Sanders did some preliminary work on that...Perhaps Bill Dandridge is accurate.  Although, we both think House of Cards is brilliantly produced and the actors are phenomenal, we cannot watch it.  It just too revolting and stultifying for our well being.  A

Mar 01, 2015 05:41 AM
Rainer
62,154
Hank Dugie
Brockway Realty, LLC - League City, TX
Mr. League City

Bill Dandridge I was thinking the same thing.. we can only imagine the security features that exist that we don't know about.

Mar 01, 2015 04:57 AM
Rainmaker
722,500
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

Was in a group that did a little fun guesstimating this situation and came in the range of $150-$300 million.

Mar 01, 2015 03:45 AM
Rainmaker
302,629
Cindy Davis
SD Home Source Realty - San Diego, CA

I am also enjoying House of Cards immensely...great entertainment. But I haven't had one bit of interest in listing the white house...lol!

Mar 01, 2015 02:50 AM
Rainer
279,198
Dipti Thakkar
LAER Realty Partners - Andover, MA
On a team with Praful Thakkar

No idea.

Jul 09, 2018 09:54 PM
Rainmaker
629,057
Ajay Pandya
e-Merge Real Estate - Columbus, OH
Realtor Ajay Pandya

Not sure....

Feb 22, 2018 09:08 PM
Rainmaker
532,394
Robert May
Robert W May - Lethbridge Real Estate - Lethbridge, AB
Real estate consulting

just looking back on some of the old questions and answers, looks like you got some good replies here.

Mar 11, 2016 02:28 AM
Rainer
140,861
Daniel Seider
BTRE Big Trees Real Estate - Arnold, CA

Considering how they restored it in the 40"s and all the extra's, I would expect to be one of the Higest priced homes in the world

Mar 07, 2015 08:14 AM
Rainer
468,560
Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Pro Lifestyle Solutions

IMO, it's priceless but with the present family occupying it now, it's probably worthless to many qualified buyers. 

Mar 02, 2015 12:00 PM
Ambassador
662,214
John DL Arendsen
CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS - Leucadia, CA
Crest Backyard Homes "ADU" dealer & Contractor

LOL! The White House has been over leveraged for decades But in the last 6 1/2 years it's gone totally in the RED literally and figuratively if you get my drift.

Mar 02, 2015 11:17 AM
Rainmaker
493,559
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

Very clever!  It's priceless of course.  Snowed here on Saturday so hubby and I stayed in that evening and watched first three episodes--excellent!

Mar 02, 2015 11:05 AM
Ambassador
3,898,282
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Does it come with the tenants in it? What rent are they paying?

Mar 02, 2015 09:45 AM
Rainmaker
38,233
Eren Millam
Realty World Cosser & Associates, Inc. - Chehalis, WA
Certified Negotiation Expert

$1. The competition would drive the price up and the owners would be excited for the 110,000,000 % + price increase!

Mar 02, 2015 08:21 AM
Rainer
77,745
Bradley Potter, PLLC
Homesmart Realty - Phoenix, AZ
National Association of Expert Advisors

i love that show!  Priceless

Mar 02, 2015 06:40 AM
Rainer
256,973
Kathleen Frawley
Keller Williams 916 730-4404 Elk Grove, Wilton, Folsom, Sacramento - Wilton, CA
South County Sacramento, 916 730 4404

Given the state of our economy, It will be a short sale to china. 

And hey, don't binge watch...you will tax your brain cells.

Mar 02, 2015 06:09 AM
Rainmaker
657,454
Pat & Wayne Harriman
Harriman Real Estate, LLC (203) 672-4499 - Wallingford, CT
Broker/Owners, Wallingford CT Real Estate

Well, I don't watch HofC either, but here's what Homesnap has to say about the estimated value of a few other "1600 Pennsylvania Avenues" around the country...
http://www.homesnap.com/search?q=1600+Pennsylvania+Ave%2C+Washington+DC&pt=0

 

 

Mar 02, 2015 06:01 AM
Ambassador
1,597,323
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

White exteriors don't sell well so you would have to do a repaint. Just kidding.

Mar 02, 2015 05:34 AM
Ambassador
1,237,116
Jason Crouch
Austin Texas Homes, LLC - Austin, TX
Broker - Austin Texas Real Estate (512-796-7653)

Well, it's 55,000 square feet with 18 acres convenient to everything. Man - that would be an awesome listing.

Mar 02, 2015 05:24 AM
Rainer
2,402
David East
Suwanee, GA
The East Team - Moving you in the right direction.

I understand it's occupied and furnished, perhaps it would be best to list it "as is" and "all contents included with sale"

Mar 02, 2015 05:17 AM
Rainer
88,497
Jack Fleming
Weichert, Realtors - Wayne, PA

Two questions:

Will the seller take back a mortgage on the property? I'm thinking a five year balloon at 3.75%.

If I can get the zoning will D.C. allow a townhouse community to be built on the property?

Mar 02, 2015 04:38 AM
Ambassador
1,041,270
Andrea Swiedler
Berkshire Hathaway HomeServices New England Properties - New Milford, CT
Realtor, Southern Litchfield County CT

Well, not being from DC, I did what any interested, foolish homeowner would do. I ran a ZESTIMATE! And according to Zillow, if we were to do a refi, thepayments would be.... $1,407,129/mo

We could rent it for....$1,810,043/mo. Interesting.... 

IF you want to see what Zillow has to say about it, run it yourself. Took about 1 second, LOL. 

Mar 02, 2015 04:24 AM
Rainmaker
1,496,939
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

You'd have to disclose the previous fire damage & the poor security.

Mar 02, 2015 04:19 AM
Rainmaker
1,503,137
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Fifteen Years Experience in Brevard County

The challenge would be putting a price on the sentimental value and emotional; attachment.

Mar 02, 2015 03:31 AM
Rainer
2,535
Carol Williams
ReMax Excellence - Edmonton, AB

I think it would be a matter of who could afford it.  Maybe Bill Gates as he is the richest man in the world according to Forbes Magazine.  But I don't think it is for sale and the American public would be very upset if it was sold - unless it was sold for the cost of the national debt!  What an interesting musing!

Mar 02, 2015 03:25 AM
Ambassador
4,008,199
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Good question Hank I'm sure it is beyond my budget.
I am glad to hear that the new season of house of cards is out though I will have to schedule some time to watch it.

Mar 02, 2015 03:21 AM
Rainer
1,013
Cynthia Horgan
Realtyworldcapefear - Wilmington, NC

Olivia Pope on Scandal was auctioned off for One Billion dollars so I think the White House would go for more than that.  After all, I am sure there are millions of dollars worth of wire taps alone in that place.

Mar 02, 2015 03:03 AM
Rainer
35,708
Barbara Rathbun
Laguna Beach, CA

I say quite a bit but it is owned by the tax payers..I say stop the tax increases and give it back..the white house really is pretty vacant anyway and no longer in use

Mar 02, 2015 02:53 AM
Rainmaker
436,174
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

My husband is also binge watching House of Cards ... while I am working -- but I am getting bits and pieces.   My guess would be $2-500 million ... hmmmm that would not even put a dent in the deficit would it?

Mar 02, 2015 02:47 AM
Rainer
8,426
Drew Ludlow
Drew Ludlow, Realtor®: Giving Tree Realty - Apex, NC

Saw something on a news station once where two local luxury specialists were asked the same question.  I can't remember the high bid, but the lower bid was $1 billion.

Mar 02, 2015 02:20 AM
Rainmaker
275,276
Susan Jacobsen
The Alliance Group Realty - Hilton Head Island, SC
20 Years Providing WOW Real Estate Service

Hank - I'll have to admit that I don't watch - and actually have never even seen - the House of Cards.......but though I don't really have a guess this is really a good exercise and shows how to evaluate those 'impossible' comps.

Mar 01, 2015 09:43 AM