White House asking price slashed to $264 mln

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…Question: I am an elementary school principal in Easton, Md., who has been involved in equity training for the past two years. One of the articles we discussed was written by you seven years ago and said basically that the White House had lost nearly a quarter of its value. Some of the attendees at this training are wondering the intent of putting a value on the White House, when it has never been valued in the past.

How can Zillow put a real value on something that will never be for sale? —J.R.

Answer: The point of the article was to show that no property has been immune to the real-estate downturn, not even the iconic White House.

By the way, Zillow now values the White House at $263,453,600, a drop of $350,200 in the past 30 days, making it a relative bargain. And the place has great walk and transit scores to boot.

Full story: White House asking price slashed to $264 mln