How much is a view worth?
I am working on a competitive market analysis for a mid-century home in Silver Spring, MD. It's a cute house, and it's in a neighborhood with five or so sub-subdivisions, each with it's own style of houses. And many of them (including this one) have had a lot done since they were built. So doing a side-by-side comparison can be tricky.
This particular home, however, has something that almost everything else in the neighborhood lacks. That would be a view. Not just a view of woods, but a spectacular view of wooded parkland that leads down to one of the major area creeks.
This is what you see from the deck off of the family room addition in back.
There is lots of wildlife to enjoy watching. Once in a while, a deer or two will come calling, along with assorted raccoons and other friendly critters. It's the kind of place that Willie the Labradoodle would love to run.
But in calculating the impact it might have on the home's selling price, I'm not sure. Houses in the neighborhood sell from the mid $300's in to the high $400's, and lower than that if they are granny houses that need a lot of work. This one is in good shape and in the middle of the range for size.
Any ideas?
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