Subject Views Any Value to Views? Do you make Adjustments for Views?

[KenRossman]

Views on Long Island, particulary waterviews can have a huge impact on value. Several hundred thousand dollars is not uncommon in very desirable areas.

 

[JRS at OBX]

I make view adjustments all the time.

 

[Pat Butler]

I stayed at a nice hotel a few weeks ago, and they sure charged me a ton of money to have a golf course view!

 

[Vermonter]

I make view adjustments all the time.

Mountain and lake views here.

 

[JoTetherow]

Views

in the finger lakes region of NY, whereri am we have lots of places with great views. and people definately pay for that view.

the last paired sales i did for this showed a 10% premium for an average lake/bay view.

j

 

[Mike Kennedy]

Panoramic Mountain/Valley/Lake/River/Ocean/ dense forest rear/private view .......you bet. Tell the LO ditch the incompetents who don't - and give YOU allllll their business.

 

[Stone]

Ray - a lot of where we work is very much driven by the views. River views (Mississippi and Wisconsin), along with bluff views away from the rivers are definitely driving forces in many markets. Tell the LO that when buyers stop considering views, you will too.

(For those of you who haven't been to WI, it ain't all corn and trees:new_smile-l: )

 

[CANative]

I've made $500,000 dollar view adjustments without breaking a sweat. What do you think a view of San Francisco, the bay, the bridge and the ocean is worth from Mt. Tamalpais? $4 million - $10 million?

 

[Joyce Potts]

My rule on views is determined on whether or not it's a 'controlled' or 'uncontrolled' view.

If the view is afforded over someone else's property where's there's a chance it could be obstructed in any way in the future, I give no value.

For me to give a significant value view contribution would depend on the market data. In the absence of good market data, I'd use some common sense based on the reactions of typical and buyers and sellers in my market from past experiences.

 

[Mike Boyd]

Where do you think the expression....."Million dollar view...." came from?

Certainly, the broader and more interesting the view, the higher the price.

It's like booking a cruise. Will you pay more for an outside room with a window than you would for an interior room with no window? Of course, and the cost difference is significant. They are also the first rooms to sell out.