Daniel, Real Estate Pro in Los Feliz, Los Angeles...

what is a view worth?

Asked by Daniel, Los Feliz, Los Angeles, CA Mon Jun 2, 2008

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4
I think the price is based on the square footage of the house. The view is an added feature and that your property may sell faster than those without the view. Buyers might be willing to pay higher than what is going for because of the view.

Charita King
1 vote Thank Flag Link Mon Jun 9, 2008
Interesting question. Whereas a view of the back of a brick wall, would lower property values..a 360 degree Ocean View is Priceless. To put an exact monetary value on that, would be difficult to do.
I can say that Hillside homes with panoramic views command the highest prices in Real Estate.
0 votes Thank Flag Link Wed Jun 4, 2008
how can one get a 360 degree view of anything (especially the ocean) unless they are in a lighthouse that is firmly on an island more than a few miles out? I think you meant 180 degree view!
Flag Tue Apr 8, 2014
From an appraisal standpoint, a view is worth whatever the market will pay for it. The best way to determine this is to look at comps that have a view and those in the same area that don't. Just like any other feature that a home has, you can adjust the comps so that the only variable is the view. This will help to establish an approximation of the market value.

Do a search on paired sales and you will get the idea.
Web Reference: http://www.charityar.com
0 votes Thank Flag Link Mon Jun 2, 2008
This answer by Ray is the correct answer. I have a beautiful view in an Oregon home of a wonderful blue bay, along with large green trees, 180 from all rooms on the west side. That view, in Lake Tahoe, NV, would be worth $1.5M. And the view in oregon is not even one tenth of that. Location is EVERYTHING, even if both are water front.
Flag Tue Apr 8, 2014
Hello Daniel. That's a very good question and I think the answer will depend on the individual and what kind of a view is involved since not all views are created equally. In my experience, for resale purposes, a view does not add nearly as much as people hope for. It's similar to a pool. People like to have the pool, but they don't want to pay much extra for it. I think it would be interesting to hear from an appraiser on this issue. I would also want to know what a view is worth in a lawsuit (I know people have sued when their view was blocked by new construction). It will be interesting to see how others answer your question.
0 votes Thank Flag Link Mon Jun 2, 2008
Ute Ferdig -…, Real Estate Pro in Newcastle, CA
MVP'08
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