Remember lenders do not give mortgages on views of any thing, they are only interested in square footage, the condition of the building and the surrounding comps.
The best thing to do is have a Professional Realtor look at your property and give you a complete market analysis of your neighborhood. This will give you a fair picture of the market in your area. Hope this helps.
If you have questions, call a local Realtor for a CMA. You can always pay for an apprasial as well.
Spirit Messingham, PLLC
3rd Generation Full-Time RealtorÂ®
Tierra Antigua Realty
Direct (520) 471-6900
I just sold a home with the best views in subdivision (probably some of the best in OV and we were able to get 347,500 where everything else in the neighborhood was going for 275 and under.
We also did a MASSIVE marketing plan on the home to get it to compete and the next price point up.
If you're thinking of selling, interview some agents and look at their track record stats from MLS, don't take their word for it, have them show you live stats. We all have access to each other's stats as well.
You want proven results not talk.
A more accurate answer would require your address, and some in depth comparable research fo your property. Essentially comparing what homes with no view sold for, versus similar homes with views.
Keep in mind that markets change. What your view was worth in 2007 is likely to be different today.
Keller Williams Southern Arizona
Just as every property is different, so is every Buyer different.
An unobstructed view would be priceless to some Buyers, and you could expect that to be reflected in the market value of your home.
When preparing a marketing plan to sell your house, your REALTORÂ® will emphasize the value and benefit of the view as one of its selling points.
Century 21 Heritage
That is a really difficult question to answer without knowing exactly where your home is located, what other properties nearby feature, and the price point. Adding $75,000 to a $150,000 condo with Pusch Ridge views is not the same as adding that amount to a $1,000,000 home. The value is also determined by current market conditions. Buyers who would ordinarily pay high premiums for views (luxury, second home, etc) are fewer in the current market, so the premium paid for a view may also be lower.
My best answer: Consult with an agent or appraiser who is familiar with your neighborhood to get a real picture of the overall value of your home.
Mary E. Diaz, Associate Broker
Basically, those rhetorical questions are my way of demonstrating that the value of that view is highly subjective. You should base your sales price on the comps.
Most important, price your home right. You will get the bulk of your activity in the couple of weeks after you list a home.
One way to check out the value of a view is the Lot sales in the area if there are any. A lot with out a view may sell for 50k less than one with. This can give you the cost approach to the value. Appraiser friends tell me they have a hard time giving value to view.
That doesn't mean that a buyer will not pay more for a view home, they will. In Prescott a home with a view usually comes with a lot that is less level. This may actually be a detriment to the sell of the home. So, if you have a great view but have a lesser home or lot this may not add any value in the market place.
I rarely see sellers check out the competition as if they are the buyer. You may have the same view as the one two streets down that is 100k less and you donâ€™t know that without getting out there and looking at the home. Great advice in all of the answers that where given here. Take the advice of your Realtor and urge him/her to take you shopping as if you where buying a home within your desired price range.
Be objective and then price your home accordantly.
Good luck, happy selling.
Armed with this information you help remove the element of doubt, and give yourself real information.
It actually depends on to what beginning value it's being added. In other words, if most of the homes in the neighborhood have equally lovely and unobstructed views, there's not much to add to comparable sales in that area. If however, most of the homes in the immediate area, or the same subdivision, do not have similar views of the mountains, there is certainly a number of buyers who would pay a premium for the view. However, this is assuming all other things being equal...in other words, the home has a desirable floor plan, a nice lot and has no deferred maintenance or updating required. Bottom line, any thing that differentiates a home from those immediately surrounding it is only worth what a buyer is willing to pay. If you'd like to have the comparable sales sent to you, I'm happy to do so...no obligation of course!