What is the White House worth?

Sorry, but, like the Brooklyn Bridge, it isn't for sale.
However, an appraisal exercise carried out this past summer determined that you could probably pick it up for $106million (USD) if it came on the market at the present time.
You would, of course, get quite a lot for your money:

Number of rooms	132
Number of bathrooms	35
Number of fireplaces	29
Number of family-guest rooms	16
Number of kitchens	3
Number of floors	6
Square foot area	42,480
Gallons needed to paint the exterior	570
Central heating system	Yes, first installed 1837
Central air conditioning	Yes, first installed 1933
Security system	Yes, and then some
Lot size	18 acres (fully fenced)
Date cornerstone laid	1792
Date first occupied	1800
Cost of original construction	$232,372

Apart from all this, some features you might not expect include an onsite dentist's office, a movie theatre, a bowling lane, and a running track, although seemingly there isn't a swimming pool.
Undoubtedly, though, you'd be able to claim a prestigious address (1600 Pennsylvania Avenue), occupy a prime real estate location, follow in the footsteps of numerous illustrious predecessors, and indirectly play curator to a priceless collection of art and furnishings.
And not the least, you can not only work from home but also expect the government to pay out close to five million dollars a year for the staffing and upkeep requirements.

[Note: If you'll go to the webpage at http://www.housevalues.com/AboutUs/AboutHV-News.aspx
and click on the second July 2 news story, you can reach a
video clip that has helped me pass all this information on to you]

A number of limitations
As can sometimes be the case when you buy property, there is, of course, a downside.
For a start, your continued occupancy cannot be taken for granted. At most you can expect to live in the White House for a couple of four year periods, but after that you're back out on the street, regardless of your political stripe. It's therefore advisable not to sell your present home, although you could, if you wished, rent it out for the relevant period of time.
There's also the question of privacy. You can count on about 2 million visitors coming to look the place over each year. On several occasions, too, there's a practice of holding Open Houses and other events to which the public is invited, albeit subject to some serious vetting of the right to attend.
As Nancy Reagan reported shortly after the start of her husband's presidency, it also appears that payment is expected for "every meal, as well as for such incidentals as dry cleaning, toothpaste, and other toiletries." Presumably, the charges apply to personally consumed items only and that State Dinners and the like are paid for by some other duly appointed government official.
The other demands placed on you and your family cannot be dismissed lightly, either. As Harry Truman observed, the White House can be considered "a glamorous prison."
Most of all, though, there's the matter of zoning. Its inclusion of a single family residence notwithstanding, the permitted use is unquestionably "institutional," which means you'd have very little chance of effecting a change from its long established function.

But the dogs like it
Back on the positive side, there's no doubt that it's a fine place for bringing up dogs, not to mention a variety of other domestic -- and some not so domestic -- pets. President Clinton's dog, Buddy, as well as Socks, his cat, often stole the show when photos were being taken. President Bush's Scottish Terrier, Barney, also isn't camera shy, as witness his daily appearance in the White House website.
But history shows that animals have been constant members of presidential households. Horses were a natural in the days long before the automobile emerged, but goats, cows, a wide assortment of birds, and, in Theodore Roosevelt's days, a veritable menagerie have all roamed the White House grounds. As one commentator put it: "This place has housed more pets than people over the years."

Getting a mortgage
Although most lending institutions would be excited at the prospect of financing a purchase of this size, they'd probably not approve your application. To begin with, you'd need an annual income of about $18million to qualify and your payment for principal and interest would be around $667,000 per month. However, there'd also be a real problem if you fell into default. The chances of the bank being allowed to recover the arrears through a Power of Sale are almost certainly just about nil.

Anything is possible
Estimating the value of the White House does at least prove that the calculation is really no different than what's involved in determining the worth of any property. The elements that need to be taken into account are the existence of comparables (extremely limited in number though they were in this case); what acreage in the heart of Washington could sell for if it ever became available; construction costs if replacement was suddenly required; and a variety of tangible and intangible factors such as curb appeal, property condition, the likelihood of enjoyment (i.e. the bells and whistles), historical significance where it applies, the surrounding neighbourhood (desirable or not?), and the relative scarcity of anything similar.

Needless to say, this last point raises the question of buyer motivation. How many people would in fact be sufficiently keen to seek possession?
Well, as we saw last week, there was a close fight over it.
I guess you could say that, like real estate, politics is an interesting business.