Views in San Diego are very hard to put a value on due to the varying degrees of views. First you could have a 180 degree view that is unobstructable or you could have a limited or partial view. Then there are different types of views such as a golf course view, a mountain view, an ocean view, etc. The appraisal process used to determine the value of the view is called a “paired sales analysis”. In theory the process works like this; property “A” has a canyon view and sells for $450,000, property “B” is a model match to property “A” and has the same upgrades but no view. Property “B” sold in the time frame as property “A” and sold for $425,000. In this example the “paired sales analysis” supports a view adjustment of $25,000.
In the real world it is never this easy. Take an area like Cardiff by the Sea. Homes located in Cardiff vary greatly from the original beach bungalow to the new custom executive homes. To determine what a view is worth an appraiser would still utilize the “paired sales analysis” approach using two similar homes one has a view and the other home does not. If there are no recent homes that will qualify for the “paired sales analysis” the appraiser would search for older or dated sales that will work for the analysis. After the appraiser determines how much the view is worth for the older sale the appraiser would convert the dollar amount into a percentage basis and apply that percentage amount to today’s market value. This will compensate for any market increase or decrease from the dated sales to the current sales.
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Brandlin Appraisals Inc. specialize in helping people who need appraisals for estate purposes, divorce, date of death, bankruptcy, FSBO’s and more throughout San Diego county. For more information please contact us at (760)741-7699, or visit our website at Brandlinappraisals.com, or email us at email@example.com
San Diego, CA // Real Estate Appraiser
San Diego Real Estate Appraisal Services For:
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