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how much value does a lake and mountain view add to your property?

Recently the woods behind our home was cleared out giving us a panaromic view of Lake Stevens and the Cascade range. The property owner of the cleared land has no plans in the near future to build there. It will be left a grass field indefinately. So we are trying to find out what kind of value the view has added to our property.
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August 06 2011 - Lake Stevens
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Answers (4)

The other responses hit this on the nose. As a resident of Lake Stevens myself I can tell you that their are no lake views that are adding a million dollars to the value of the home unfortunately but the best way to do this is looking at comps.

Essentially we find homes in the area similar in size and style without a view and get a compaible price without taking view into consideration. Then we do the same but look at homes that have a similar view and we can estimate how much it really added. Unfortunately it may be hard to get a large data pool to for similar homes with similar views because the lake is only about 4 miles around which doesn't give that many comps to work from. But since I am local to you I'd be happy to help if you are considering selling. We can figure out the most likely market value for your home.
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July 20 2012
I would think something in the range of $20K to $50K, given that the land could be built on in future.
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November 08 2011
The value increase from a lake and mountain view varies greatly and is very subjective..."Million Dollar View".
The best way for you to figure that out would be to find a similar home with the same view as yours as a comparable value property.
Good luck, and I hope it added a million bucks!
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November 08 2011
There is no set percentage of increased value. The only way to find out how much this has increased your value is to compare your home with others in your area that have a similar view.
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August 06 2011
 
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