Rizzotti JH Real Estate Blog

Often asked question, whats the value of my Teton View. Look at the land sales and tryto find sales with and without to isolate the difference. Also, search for improved sales with and without this amenity, and see if you can isolate the amenity. Call other agents and get their opinion. If your subject has a good Teton Range view and all your comps, it is already factored in. But if your subject has a good Teton Range view, and none of your comps do, and you cant seem to isolate the value of the view based on historical sales data (comps), start askign the question, how much more would i pay for a view versus the views of the comps. Maybe trying to use a percentage of sale price may be realistic. These are only examples, do your homework.

The other important consideration is marketability. My property with direct Teton View, will likely enhance its marketability, compared to the competition which lacks this amenity, assuming all other items being equal. Focus on the key factors that the participants in the market consider significant. A property that lacks a Teton View, in an area where this view is common, may be tougher to sell.

Ken