The White House Worth Just Shy of $400 Million

As a new president gets ready to move in, Zillow finds the value of the White House has appreciated 15 percent since Barack Obama’s inauguration in 2009.

Seattle, WA-Jan. 17, 2017 (PRNewswire) The White House, valued at $397.9 million according to the Zillow® home valuation, has appreciated 15 percent since the Obamas moved in eight years ago. The White House is the most valuable home on Zillow.

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Zillow first calculated the estimated value of the White House in 2009 using the proprietary Zestimate® algorithm, which provides a starting point for a home’s worth based on public data and recent sales. Zillow has Zestimate home valuesi on over 100 million homes — almost every home in the country.

President-elect Donald Trump will be the 44th president to move into the 55,000 square-foot homeii. Unlike some past presidents, luxury living is not new to Trump, who is moving from his three-story penthouse in The Trump Tower to one of the most famous homes in America.

The value of the White House, currently at its peak, is expected to appreciate 3 percent over the next year, in line with home value growth expected throughout Washington, D.C. Home values across the country have appreciated 6.5 percent over the past year and 9 percent since Barack Obama’s inauguration in 2009.

“President-elect Trump is moving into one of the most famous homes in the country — and, according to Zillow, it’s also the most valuable home in the country,” said Zillow Chief Marketing Officer Jeremy Wacksman. “President Obama’s term coincided with a massive recovery of the U.S. housing market, and that’s reflected in the updated value of the White House. Home values across the country are growing at their fastest pace since 2006, with many markets setting new records — one of the reasons why the White House is worth more now than it has ever been.”

The White House has 132 rooms, 32 bathrooms and sits on 18 acres. Notable features include basketball and tennis courts, a sun room and a library, all of which influence the home’s Zestimate. Were a potential buyer to take out a standard 30-year fixed mortgage on the White House today, the monthly payment would be about $1.6 millioniii, according to Zillow. The monthly rental payment would be just over $2 million per month.

Zillow

Zillow® is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow’s Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence in local housing markets, both currently and over time. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ: Z and ZG), and headquartered in Seattle.

Zillow and Zestimate are registered trademarks of Zillow, Inc.

(i) The Zestimate home value is Zillow’s estimated market value for an individual home and is calculated for about 100 million homes nationwide. It is a starting point in determining a home’s value and is not an official appraisal. The Zestimate value is automatically computed daily based on millions of public and user-submitted data points taking into account special features, location, and market conditions. Read more here for more information on how Zillow calculates the Zestimate value.

(ii) President George Washington oversaw construction, but never lived in the White House.

(iii) The monthly mortgage payment assumes 20 percent down, a 4.2 percent interest rate and includes taxes, insurance, principal and interest.

U.S. Housing Worth Record-High $29.6 Trillion in 2016

The national housing market gained $1.6 trillion over the past year, a 5.7 percent increase from 2015

– Los Angeles is the most valuable metro, worth a cumulative $2.5 trillion.

– Portland, Ore. had the biggest increase in value among the largest housing markets, growing 13.4 percent in 2016.

– Renters paid a cumulative $478.5 billion in 2016, a 3.8 percent increase from 2015.

Seattle, WA – Dec. 30, 2016 (PRNewswire) The total value of the U.S. housing stock grew to a record-high $29.6 trillion in 2016, according to a new Zillow® analysis. The housing market saw a strong year of appreciation, growing 5.7 percent in value, or $1.6 trillion.

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The U.S. housing market has regained all the value lost during the housing crisis. The cumulative value of all homes in the U.S. declined by $6.4 trillion between 2006 and 2012 as the housing market collapsed.

A home is typically the biggest part of an individual or family’s wealth, and the cumulative value of the U.S. residential housing stock is similarly significant to the national economy. The U.S. GDP is an estimated $18.7 trillioni, nearly $10 trillion less than the value of all homes in the country.

Los Angeles and New York metros hold the highest shares of the country’s overall housing value, at 8.6 percent and 8 percent, respectively. The next most valuable metro is San Francisco, worth 4.2 percent of the overall housing value.

While several markets are now more valuable than they were at the height of the housing bubble, about 60 percent of the markets in the U.S. are still below the maximum values reached during the bubble years. For example, Chicago is still about $134 billion below the highest value it reached in 2006.

“Housing is incredibly important to us personally and to the economy as a whole,” said Zillow Chief Economist Dr. Svenja Gudell. “The U.S. housing stock is worth more than ever, which is a sign of the ongoing housing recovery. As buying a home gets more expensive, affordability remains a concern for many, and these numbers highlight just how much people are spending on housing. The total value of the housing stock grew nearly 6 percent this year, a pace that will likely mean some American families are priced out of homeownership.”

Renters this year paid $478.5 billionii, a $17.7 billion increase from 2015. About 635,000 new renter households formed in 2016, contributing to the amount of rent spent even as rent appreciation slowed. Apartment renters spent nearly $50 billion more than renters of single-family homes, as more multifamily construction became available this year.

Renters in the New York/Northern New Jersey metro paid the most this year, spending nearly $55 billion on rent.

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Zillow

Zillow® is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow’s Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence in local housing markets, both currently and over time. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ: Z and ZG), and headquartered in Seattle.

Zillow is a registered trademark of Zillow, Inc.

(i) https://www.bea.gov/newsreleases/national/gdp/2016/pdf/gdp3q16_3rd.pdf

(ii) To calculate the total rent paid, we estimated the number of renter households in each metro area based on the U.S. Census Bureau’s 2005 through 2015 American Community Surveys (ACS), and households counts and metro-level homeownership rates from the Current Population Survey/Housing Vacancy Survey (CPS/HVS). ACS microdata files were downloaded from the University of Minnesota, IPUMS-USA. We then summed the monthly Zillow Rental Indexes (ZRI) for each year, including a forecast for November and December 2016 ZRI. (Actual November December 2016 data were unavailable at the time of the analysis). Finally, we took the product of the estimated number of renter households and the summed ZRIs for each metro, and scaled the results by a rental stock adjustment factor, which controls for differences in the footprint of the rental stock and the total housing stock. The rental stock adjustment factor was derived from the historical and recent relationship between ZRI and monthly contract rents reported in the 2015 ACS for each geography. Either the most recent year’s adjustment factor or the historical average adjustment factor was applied to 2016 data depending on the model cross sectional performance.

Outdoor Remodeling Projects See High Happiness and Financial Returns, Say Realtors®

Washington, D.C. – September 27, 2016 (Realtor.org) Homeowners looking to tackle a remodeling project should head outside, according to a new report from the National Association of Realtors® and National Association of Landscape Professionals. The 2016 Remodeling Impact Report: Outdoor Features shows that not only can outdoor remodeling projects add value to a home on resale, but they can also bring advantages to homeowners planning to stay in their homes in the form of increased happiness.

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“Realtors® understand the importance of curb appeal because when it is time to sell, a home’s exterior is its first impression to potential buyers,” said NAR President Tom Salomone, broker-owner of Real Estate II Inc. in Coral Springs, Florida. “Realtors® also know that these projects – from flowerbeds to fire pits – can bring homeowners who have no plans to sell even more enjoyment and satisfaction in their home.”

According to the report, which analyzes the reasons why homeowners complete outdoor remodeling projects and the value – both financially and emotionally – the finished projects bring to the homeowner, taking care of your home’s lawn will bring the most bang for the buck. Looking at the outdoor projects that produce the largest financial windfalls at resale, Realtors® ranked seeding lawn the highest, recovering 417 percent of the project cost at resale. Seed lawn is followed by implementing a standard lawn care program (303 percent of cost recovered) and updating landscaping with sod lawn (143 percent recovered) as the most cost-effective projects.

When it comes to the enjoyment homeowner’s gain from these projects, a new pool comes in at number one, receiving a perfect Joy Score of 10; Joy Scores range between 1 and 10 and higher figures indicate greater joy from the project. Ninety-five percent of homeowners who completed a pool project said they have a greater desire to be at home, 90 percent felt a major sense of accomplishment, and 80 percent have an increased sense of enjoyment when they are at home. However, Realtors® estimate that homeowners will only recoup 50 percent of the cost on resale, making it one of the least profitable projects in the report.

The next most appealing project is an overall landscape upgrade – with a Joy Score of 9.8 – followed by a new wood deck, with a Joy Score of 9.7. When asked why homeowners took on these projects, the most common response was to add features to their home and improve livability.

“Homeowners looking to take on large, expensive outdoor projects should do so for themselves, for the enjoyment they and their family will gain from the finished results, and not only to improve the value of their home for when they sell. Smaller projects will bring potential sellers the most value back upon resale – and have the benefit of costing less up front,” said Salomone.

“This report validates that outdoor remodeling and landscaping improvements are a necessity when it comes to improving your home’s resale value,” said Missy Henriksen, vice president, public affairs, NALP. “Homeowners working with a landscape professional to embark on renovations — whether that means enhancing their turf and growing a lush lawn, rehauling their entire landscape, or incorporating new features, like patios and exterior fireplaces — can rest assured that they are making a smart, worthwhile investment. Further, that investment is coupled with the immediate happiness received by beautiful landscaping and the long-term enjoyment of outdoor living spaces, which are priceless.”

The National Association of Landscape Professionals is the trade association for the landscape industry, which employs nearly 1 million landscape, lawn care, irrigation and tree care professionals who create and maintain healthy green spaces for the benefit of society and the environment. Member companies specialize in lawn care, landscape design and installation, landscape maintenance, tree care, irrigation and water management, and interior plantscaping.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.1 million members involved in all aspects of the residential and commercial real estate industries.

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Media Contact:

Jane Dollinger
(202) 383-1042
Email

5 Cool Sinks

They say that remodeling your kitchen and bathroom will not only increase the value of your home but will also improve the chances of it selling. I’ve always wondered who ‘they’ are…

Here are five cool sinks that will make that remodeling more interesting :)

1. A way to conserve water:

If you take too long washing your hands the fish get’s it! Yes it’s great for water preservation but not so for cleanliness :) (don’t worry, the fish won’t die, there are two separate water sources)

2. Shaken not stirred:

For those people who have a bit of Bond, James Bond, in them this one is for you!

3. Bend it like Beckham?

For the football (sorry, I can’t call it soccer…) fans out there here is a fun way to cleanup after the game :)

4. A sink for the garage?

Looking to buy your favorite mechanic a gift? Ideal for a garage or man cave this sink recycles a tire/tyre and includes a circular mirror studded with four hub-nuts:

5. And last but not least…

Hot water you get red, cold you get blue, either way this sink “seats a metal ball with an array of electromagnetic sensors detecting the ball’s position and simply by moving the ball in or out from the water you get to control the water pressure while moving it around controls water’s temperature” is cool!

New Ad Campaign Illustrates True Value of Real Estate Agents

“Sign of a RE/MAX Agent” Launches in January

Denver, CO – Jan. 20, 2016 (PRNewswire) RE/MAX, LLC will launch its new ad campaign at the end of the month. Created by the real estate franchisor’s lead advertising agency Camp + King, the “Sign of a RE/MAX Agent” campaign focuses on the true value that a RE/MAX agent offers throughout the home buying experience from concept to close.

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The colorful 2016 campaign is anchored by four 30-second TV commercials that feature a behind-the-scenes look at what RE/MAX agents do to ensure a positive experience – the hustle, the staging, the open house, the leap of faith, the offer.

“The challenge every day for real estate agents is conveying their value and then delivering the results buyers and sellers are looking for – and nobody meets the challenge better than RE/MAX agents,” said Adam Contos, RE/MAX Chief Operating Officer. “We wanted our new ads to tell this story in a whole new way, and we found just the right agency to pull it off.”

Camp + King filmed the “Sign of a RE/MAX Agent” spots on location in Los Angeles with famed music video director and photographer Autumn de Wilde. She aspired to show the heart and character of real estate agents through the commercials’ unique production style.

“RE/MAX agents are dedicated to making the home buying and selling process as frictionless as possible for their clients,” said Jamie King, Camp + King Founder & CEO. “As such, much of what they do happens behind the scenes – we wanted to celebrate these moments and bring them to life.”

The 2016 national ad campaign will run throughout the calendar year starting February 15; print and radio will begin the same month as well. Agents in participating RE/MAX regions will also have access to a variety of customizable assets for use in multiple formats: TV, radio, print, out-of-home, digital and social.

To view the “Sign of a RE/MAX Agent” anthem spot, visit the RE/MAX YouTube channel https://youtu.be/OOxMFvBB-Uw.

About the RE/MAX Network:
RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. Over 100,000 agents provide RE/MAX a global reach of nearly 100 countries. Nobody sells more real estate than RE/MAX, when measured by residential transaction sides.

RE/MAX, LLC, one of the world’s leading franchisors of real estate brokerage services, is a wholly-owned subsidiary of RMCO, LLC, which is controlled and managed by RE/MAX Holdings, Inc. (NYSE: RMAX).

With a passion for the communities in which its agents live and work, RE/MAX is proud to have raised more than $150 million for Children’s Miracle Network Hospitals® and other charities.

For more information about RE/MAX, to search home listings or find an agent in your community, please visit www.remax.com. For the latest news about RE/MAX, please visit www.remax.com/newsroom.

About Camp + King:

Camp + King (C+K) is a Havas-aligned creative agency launched by Roger Camp and Jamie King in February 2011. In 2015, Advertising Age honored C+K as one of the top agencies in the west. Based in San Francisco, the agency is dedicated to making brands more Conversationworthy™. C+K boasts an impressive client list, which includes YouTube, RE/MAX, Energizer, Dish Network’s Sling TV, Del Taco and the Hershey Company’s Scharffen Berger brand. For more details, visit camp-king.com.