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Santa's house valued at over $700K

Posted by The Aramco Group on Sun, Dec 24, 2017 @ 14:12 PM

A toy-lover's paradise nestled on 25 idyllic acres is the description given to a property Zillow lists simply as Santa's House. Located in The North Pole, the property includes a main living area for St. Nick and a community of tiny elf-sized homes. Its value: $710,559.

According to the property's listing at Zillow.com/santashouse, the value of the merry abode has climbed nearly seven percent ove the last year. The three-bedroom, two-bathroom log home was built in the 1800s, but was renovated in 2013 to include modern amenities.

Unusual but appealing features include an oven with 12 different cookie settings, cocoa streaming from a built-in tap and a garage with sleigh parking.

To calculate the value of Kriss Kringle's homestead, Zillow compared it to other homes in the Arctic and then added a Father Christmas premium.

Today, conforming no-point 30-year fixed mortgage rates are averaging 4 percent while 15-year rates are near 3.75 percent.

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