The view is a value factor only in as much as it is better or worse than comparable views.
I use a 10%-15% baseline. Example: A similiar property with a view of City Lights or Ocean/Waterfront would be 10% higher than the same property with a Mountain view. The caveat....Location which will determine your buyer pool. Veiw is still a subjective value facxtor. If you could give a detailed description or example, someone will have a different perspective.
I would say a great view (for excample of the Los Angeles Sky-Line or on a clear day the Ocean sometimes even Catalina Island) could produce easy an additional 10-15% more to the seller.
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As someone who has lives and works in the Hollywood Hills area, I would say that views definitely help raise the value of the house - especially if you can get some views of city/ downtown and on a clear day even the ocean. That said, a lot of other factors also play into the mix. For example - if a house has great views but really bad access roads to it then it would dilute the value created by the views alone. Makes sense?
Also, the type of view, canyon, mountain, city lights, etc..
More importantly, is the comparable properties on the market.
REMAX Hollywood Hills
The view can sell the house!
Let me know if I can help in any way.
Wendy Taylor, CRS, GRI