This is practice – if you see a house that has a view like this, how much value do you put on it?
If you can have numbers in your head to make powerfully-accurate valuations on the fly, you’ll be way ahead of the pack. Play along – leave your estimate of view premium, and send me your address and shirt size to get a bubbleinfo t-shirt:
On a scale of 0 to 100 a 20. This is for the day view. I only watch sunrises when sleeping in a tent.
I like the view in general. I’m not sure what the house looks like. But let’s say it’s a 4,000 sqft custom remodel on an acre. I would pay $200,000 more for that view, I love it.
But on a more “basic” home, I would say $150,000 is about right.
What road is that? I love my Rancho Santa Fe/hillside view!
The sunrise was nice, but the day view is more interesting. I’d say it’s worth a 10% to 15% premium under ordinary circumstances. Maybe as much as 20% if it’s the only view property on the market in that area.
At the moment you can get a much better view than that at a discount rate out in Fallbrook area, you could not build some of the homes out there for the price they are going for recently.
How much longer will that last, don’t know but I would wager not too much longer.
good luck.
Water view $100,000
Sunrise or sunset view 0
Well it’s better that looking up at the neighbor’s second story window and completely block stucco View.
For me lot quality trumps view every time, but I’m a yard person – not a 4000 sq ft mausoleum person.
In the spirit of the game, I’d give this a %50k view premium.
We have a similar view as the video. When we bought our current house, I put almost no value on our “Sunrise/Mountain/Valley” view, thought it was nice, but not that important. Three years later, I can’t tell you how much we have grown to enjoy it. Not only is EVERY day a different, but I feel so much more in touch with the season (yes, we do get then in CA). By watching what point the sun breaks through the mountain vista, I can tell you the approxamate date. It also warms-up the house nicely this time of the year!
very little, say 5% over a comparable property with no view, as easterly facing yards/pools get shaded early and are not inviting.
I’d pay the most for a big booming south facing view over a sunset westerly view as the setting sun just beats on the house and your view. Everyone I know with a westerly view has to add shades because the late/low sun is quite oppressive.
Obviously north facing is the worst of the choices which would be a relative -5%+.
The view is nice, but it’s only one element of the overall equation. Many other factors have to line up along with it to make it worthy of paying a premium for me.
I’d pay more to live next to the kardashians.
If Location, location, location = 50% of value. View should count for 1 of the 3 “locations.” So, I’d would put about a 17% premium on the view.
I have a mountain/park view in Vista. It is one of the reasons I have stayed in the same house for 15 yrs. My yard is north facing and gets plenty of sunshine, plus we have the killer view of Brengle Terrace fireworks each 4th of July. I think a mountain/park type view warrants a 10% premium.
Never mind the contest, when is the Bubbleinfo online store opening? JtR T shirts, mouse pads, coffee mugs, i phone apps, computer wallpaper, model ice cream trucks…. there`s a fortune to be made.
For me, if it’s not an ocean view then I would not pay a premium for a sunrise view. The fact that there is not a another home behind looking into this home (e.g., Carmel Valley) then that does have some value.
I’m gonna go with 20%.
Hey Jim, if you want to set up a JtR merchandise store, let me know. It’s easy to do and free money for you.
maybe 25 – 30k more for a sunrise view, if you’d offer me a sunset panoramic ocean view with sunset, I’d pay up to 200k more, throw in some mountains and privacy, no houses above/below, 250 – 300k (tops)
12% premium. great view!
The whole view dilemma is interesting. Having friends at the beach, I’ve witnessed how fraught with craziness it can be: partying crazies, “beach access & bums” across the patio, missing patio furniture, the stench of urine, soggy crackers and rusted tools in the garage. Never-mind the complete inability to find parking…. Smart buyers would do well to seek-out coastal or lagoon views west of the SDG&E transmission lines (an urban scar if ever there was one) and east of I-5. There are a few magical areas on bluffs in older east Carlsbad, east Aviara, east Solana Beach and lower Fairbanks. Both Redfin and Google Earth have great tools for flying over prospective areas. Technically, look for the ideal climate zone to be a strip approximately .75 to 1.5 miles from the coast. Look for view arcs that are protected; i.e., Agua Hedionda, Batiquitos, San Dieguito Valley, etc. Solund from I-5 carries one full mile east, making it crazy on erstwhile quiet evenings. Also, the fog actually exacerbates the I-5 racket. South-facing and west-facing yard views always rule over north/east. Backyard activities are where family life can thrive and privacy can be maintained. Stay away from any community where sound walls have been built. Always walk the property after hours and during the morning commute. Listen to the traffic report each morning…if one area is constantly being mentioned, plan accordingly: 600 am is always good for a mention of the painful traffic conditions along the stretch from the 78 to the split in the mornings and vice-versa in the evenings (hint,hint). The 56 corridor is insanely loud as-well…not to mention the out-of-control, distracted soccer moms rushing to school and pilates. Sorry…ranting. Yes, there is one very special area with every ideal and reasonable affordability (below a million). I just can’t mention it yet.
What a great place you live in with mountains on the east and ocean on the west! I would pay 15 percent extra for each view, east and west.
In Minnesota The only premium views are on River Bluffs or big lake, lakefronts. There are fewer of them so the premium is probably higher than 15 percent.
HMMMMMMMM if it works like south africa properties with magnificent views tend to be magnificent themselves, if you count location,location,location the view makes the house worth double what it would bring in a “no view” suburb,in other words top of the mountain worth 100% more than being overlooked by the “king of the hill / beach”
You have to think of it like this:
Put a particular type of house in your mind – 3000 Sq ft built in the last ten years with a layout you like.
Then, put a particular type of yard in it that you want – flat space with pool, patio etc.
Now, it one case, put a hill right in front of you just outside the yard. In the other, put the expansive view.
Surely, you must be willing to pay some premium for the expansive view, no?
I would be willing to go 25% premium of a nice view over looking at the neighbor’s backyard. The worst of the fishbowl effect should get a further -25% discount.
The key is how things look from ground level during the day, because that is the most time you get to see your view. If you have to climb up to a deck, or go to the corner window on the second floor, it doesn’t count for much with me.
We have a view to the east and we prefer it over a western view – the afternoon shade is nice in the back and you get some friendly sun in the winter.
This view takes my breath away! However, if urban blight expands into the hills, it will be ruined. PLEASE< DEVELOPERS< LEAVE SOMETHING UNCONTAMINATED.
Thank you for taking the time to give us this spectacular experience.
clearly not the premium that a water view would command.
I’ll guess 8% premium for this view.
And to agree with the other posters, rooftops view = -10%,
stucco view =-25%
I would give that a $75k premium over a house across the street that has no view.
Food for thought: The last two posts seem accurate at least from an appraiser’s view–We had a recent appraisal done for a re-fi. Our house has a very similar view as the video. The appraiser credited us $80K for our view as compared to a similar house with no view at all. They took away $80K from our house when compared to a similar house with a distant ocean view. For what it is worth, the appraiser feels a Panoramic Mountain view (sunrise) is worth $80K, and a Panoramic, but Distant, Ocean/Sunset view is worth $160K.
First my compliments to your tenacity in getting up at that ungodly hour and filming for an hour to get the full effect. My hat is off to you!
I’d had the good fortune to live on the East coast overlooking the Boston Harbor in Plymouth MA where the sunrising over the water was magnificent – much like it setting over the Pacific. I missed many of those because I was sleeping but it is a spectacular sight when I did take it in. Here in No Cal I had a home which was on a ridge directly facing east towards Mt Diablo, the highest peak in the East Bay. Again wonderful views in the morning. There however is nothing like the sun setting over the ocean IMHO. Location also will have an effect on the view premium but in general a 7 – 8% premium for a sunrise view would sound about right. Great idea for a video. XL if I win!
NoCal Norm
I personally think an ocean view premium isn’t worth that much because it’s not that exciting and interesting as a backcountry or city view. I would only pay 5% more for an ocean view but in Solana Beach, there is a big disparity between prices of condos on Sierra Avenue that are non view, ocean view and ocean front. A $700,000 non view condo might fetch $1.1 million in the same complex if it was ocean front. For $400,000 in savings, I’ll gladly walk a few minutes. I’m sure the same is true for homes of Pacific Ave in Solana Beach, Not worth the extra expense. I would pay a 25% premium for the view shown in this video because it’s spectacular and interesting to look at. I’m sure an astronomy buff would pay even more.
how does this view compare to looking out at a canyon like that hellhole canyon property jim had a few months back? i think a “feature view” like a lake or canyon or single mountain could be more appealing than an “expansive distance” view like this one.
still, all else equal between two houses, a view like this would probably be worth 10-15% more. usually there’s something about the house with the view that sucks, though, like a crack or need of serious repair, so all else usually isn’t equal.
Jim,
Valley view of rocks in Vista. -300k off asking I think…
699K
http://www.sdlookup.com/MLS-100041856-1019_Park_Hill_Pl_Vista_CA_92081
What do you think?
As an appraiser I don’t “give value” that dose not belong to me. On the other hand, a blind person would “give value” that is priceless just to see a view.
Coffee in the morning…sunrise. Beer in the evening…sunsets over the ocean.
$50k .
Thanks for the opinions – those who haven’t please contact me at jim@jimklinge.com for your t-shirt.
I think this is a 10% to 15% view premium, though it’s not for everyone.
I’d say that view is worth a 40-50k premium. But I’m a morning person. Am I too late for a shirt? Love your site, Jim. Thank you!
I paid 8% premium in CV in 2000 for my last house. The view was west facing to Torrey Pines. Unfortunately, the neighbors planted trees and blocked most of it. I sold in 2010. I’m currently looking for a new view in North County.
Something tells me that a sunrise view is worth only a fraction of the premium of a sunset view, and that’s if the seller can charge for the premium at all.
The problem is one of competition. California sunrises happen over land when most people are still asleep. California sunsets however happen over water while people are still wide awake and are able to appreciate it.
If I had to put a dollar figure on a sunrise, I’d say no more than $10K regardless of the price of the house.
For this particular view, I’d say 15% premium tops. As an early riser, it’d certainly be nice with the morning coffee.
That view +20%. Its a great view!!
Did anyone else see something moving across the screen at 5:48-49? It was moving fast. What was it?
I would say +10%. if a place has a fishbowl yard then I’d go the other way -10%
@41. Looks like a very fast bird.
Hmmm. Love the view. Value depends on how well the house takes advantage of it. I’m going to say 10-15% premium, in general.
I would guess $50K – $80K depending on the size of the house……size xl, unless you have something to fit my 4 year old
Just got the t-shirts (we don’t check our mail often). We’ll take a snapshot in the next day and send it over to you!