President Obama has now been a White House resident for one year. While other analysts will critique his record and performance over the year, zillow.com has valued his home at around $292,470,000. That is a 5.1% ($15.6 million) decrease from last January's value of $308,059,000.
These numbers were based on the home's physical attributes (132 rooms, 55,000 square feet, 18 acres, 16 family-guest rooms, 3 kitchens, 3 elevators, 28 fireplaces, and an underground bunker), historical value, and housing performance in the local Washington, DC market.
This may seem like quite a hit but not when compared to the previous years dip of 7.2%, $23.8 million decrease from $331,841,734.
This seems to reflect the nationwide market trends. Housing prices continue to fall, but at a slowing rate. Whether that is a sign of the market bottoming out or mearly a temporary trend remains to be seen.
The Mike Webb Team: http://www.northernvirginiahouses.com/
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