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Answers (6)
Best Answer
- wetdawgs
- Contributions:26826
Are you asking if Zillow values views? The answer is that views, water front and several other aspects of location are not part of the Zestimate calculation.
- Vince Curtis, "SoCal Appraiser"
- Contributions:4699
In 'good' times, that type of a view may be worth 1/2 the value of a property. In 'bad' time, it may be worth little to nothing...
- Pasadenan
- Contributions:21458
There are two of the variables used in Zillow's machine opinion of approximate value that factor in views to some extent:
1) Tax assessed value adjusted for local rules
2) last sold price, extrapolated forward from last sold date.
If there was a "premium" paid, it may be for views, or it may be for something else. Zillow makes no attempt to determine the cause of value discrepancies. That is up to each individual user of the data.
1) Tax assessed value adjusted for local rules
2) last sold price, extrapolated forward from last sold date.
If there was a "premium" paid, it may be for views, or it may be for something else. Zillow makes no attempt to determine the cause of value discrepancies. That is up to each individual user of the data.
- Mac VanDuzer, "Mac Van Duzer"
- Contributions:3
Great Unblockable Ocean Views need to be seen in light of lots of other features of the property. And each potential buyer will have a different opinion of what that remarkable ocean view does to the property in terms
of $$. Everybody is different.
of $$. Everybody is different.
- Simon Mills, "Mills Realty"
- Contributions:1858
Talk to a local agent who is familiar with your community. For a true value you need to hire an appraiser. If you are looking for market value and an opinion on what the property will sell for then contact a few local Realtors and have them prepare a CMA for you.
- Greg Luczak, "Greg Luczak"
- Contributions:35
Because I work in the Colorado Springs region, we don't deal much with Ocean views. I can tell you how we treat unobstructed views of the beautiful mountain ranges, though...
I typically try to get as close with my comps as possible. That includes the views. Homes with great views will typically have other homes in the area with similar views. Attempt to get as close to the comps at that point, floorplan similar, etc. I generally contend at that point, though, that the most vital feature that these homes share, is the view.
Generally with Ocean views or oceanfront property, the location is the driving force behind buyer's decision to buy there.
Hope this helps, please email me or call if you have additional questions!
I typically try to get as close with my comps as possible. That includes the views. Homes with great views will typically have other homes in the area with similar views. Attempt to get as close to the comps at that point, floorplan similar, etc. I generally contend at that point, though, that the most vital feature that these homes share, is the view.
Generally with Ocean views or oceanfront property, the location is the driving force behind buyer's decision to buy there.
Hope this helps, please email me or call if you have additional questions!
How do you value great unblockable ocean views?
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