Not confident in view adjustment

[juck224]

One thing I can suggest that may or may not help-
in My MLS or on public records, I can overhead map search ...like a drone... literally click on each plat # along a view path to see if any sold,

On my MLS (many functions are the same ), I can search by location, creating a blue rectangle in an area such as right along a shoreline. This can bring up sales that other searches fail to find - it is a very targeted search for physical location. I might not add sf or other parameters to bring up as many sales as possible

Yep My MLS is the same and I did exactly this, and still none of the adjacent properties or any properties with a similar view have sold within the past 20 years.... I was very surprised to see this. Many were moved into trusts but no arms length sales as far as I could find.

 

[J Grant]

Yep My MLS is the same and I did exactly this, and still none of the adjacent properties or any properties with a similar view have sold within the past 20 years.... I was very surprised to see this. Many were moved into trusts but no arms length sales as far as I could find.

Your search revealed something - a lack of inventory and sales can contribute to a price premium. Scarcity creates value as long as the demand is there.

 

[juck224]

Your search revealed something - a lack of inventory and sales can contribute to a price premium. Scarcity creates value as long as the demand is there.

I think this is the final piece of data I have put together, along with surveying two more local agents with the same sentiment. I think at some point today I will just have to grow some guts and send this one out. I have an extensive workfile and sales comparison commentary that I am going to review about 3 more times... thanks again all for the help.

 

[Digger88]

Go back in time in the same subdivision and find 3 exact view comps. Easier to make time adjustments than view no matter how far back you need to go

 

[juck224]

Go back in time in the same subdivision and find 3 exact view comps. Easier to make time adjustments than view no matter how far back you need to go

Quite literally not possible. Theres only 3-4 homes with the same view in the subdivision. None have sold in the past 20-25 years.

 

[Terrel L. Shields]

view adjustment

View adjustments to me seem almost as often not really "view" so much as location adjustments. That applies to positive and negative factors in my book. I know some very nice views in a subdivision where you have lake side, lake view, and non-lake view lots. The lots sold accordingly. So, if the lot is lake side or lake view, what is special about lake VIEW? Nothing. It is all about the location in relation to the lake. And only a few lots were allowed a dock, so even dock access is an issue. And frankly houses at the top of the hill have a better view of the lake and woe to you if you are behind someone who decides to build a 3-story house in front of your 1 story house. Your view is garbage.

 

[J Grant]

View adjustments to me seem almost as often not really "view" so much as location adjustments. That applies to positive and negative factors in my book. I know some very nice views in a subdivision where you have lake side, lake view, and non-lake view lots. The lots sold accordingly. So, if the lot is lake side or lake view, what is special about lake VIEW? Nothing. It is all about the location in relation to the lake. And only a few lots were allowed a dock, so even dock access is an issue. And frankly houses at the top of the hill have a better view of the lake and woe to you if you are behind someone who decides to build a 3-story house in front of your 1 story house. Your view is garbage.

The above does not reflect the way buyers value properties.

The view is its own feature and is in addition to the location. Two homes can have a very similar locaiton, literally across the street from each other or adjacent to each other in the same subdivision. Yet if one of the homes has a lake view, it will sell for more.

 

[Terrel L. Shields]

The view is its own feature

it is a dartboard, not a feature and can vary as construction nearby impacts the view.

 

[J Grant]

it is a dartboard, not a feature and can vary as construction nearby impacts the view.
View attachment 109924

Your thoughts are just plain wrong on many res appraisal topics. If it is a dartboard, that person should not be appraising residential properties.

 

[glenn walker]

All I know is I'd sure hate to prove it when there hasn't been a similar sale in 20 years. One thing about lake views rarely discussed is the bright Sun. We have one lake where from Sunrise until about 1 pm your blinded and the water becomes like a giant mirror blinding you and out of towners have no idea especially if their inspection is late in afternoon.

ADVICE- BETTER SIT OUT ALL DAY long FROM 5 AM to dark to analyze if that view's a positive you assume is worth 25% more than any other sale..lmao )