White House Would Be a Hot Property on the Open Market
Being able to call the White House home is an incentive in itself for seeking the presidency of the U.S., according to research by HouseValues Inc.
According to a story appearing in the July 7 issue of Building Online, leading real estate agents across the country were asked to review price-per-foot data and the home features and historic significance of the White House to determine its asking price.
The prominent piece of real estate at 1600 Pennsylvania Avenue would be listed for $106 million, the survey concluded.
With 10% down, the home’s purchaser would need an annual salary of at least $18 million to qualify for a jumbo 30-year, fixed-rate loan at 7.5% to buy the 132-room house. Or they might have to consider turning it into a bed and breakfast.