“Beauty is in the eye of the beholder”, “less is more”, “one man’s trash is another man’s treasure”: today’s topic will either reinforce or contradict these seemingly unrelated sayings. It has to do with a buyer’s psychology, specifically when approaching homes in LA with views, albeit limited ones. We’ve witnessed this strange phenomenon ourselves. Sometimes, LA houses that offer obscured glimpses of an enviable view can command higher sales prices than LA houses with unhindered panoramic vistas. But why is that?
What Does a View Mean to You?
In real estate, more is often simply more, fueling the assumption that value scales parallel to quantity. And, in a sense, that thinking can also apply to breathtaking views. Take, for example, a study published on ResearchGate in 2019 showing that, out of a data set of over 5,000 home sales, those with a partial view saw an approximate 11% bump in premium over homes with no view at all. Meanwhile, homes with a full view enjoyed about a 22% premium bump over the homes without views. Seems pretty straightforward and predictable, right?
But we’re not dealing with 5,000 random homes. We’re dealing with homes in LA. And the LA market is its own distinct animal. In this city’s unusual patchwork of interlocking communities, a view can mean something radically different, not just from neighborhood to neighborhood, from listing to listing. And buyer expectations are just as vague. One buyer might expect a narrow glimpse of Catalina Island in the distance. The next might imagine a wraparound view of the downtown skyline.
A Professional Reluctance to Value the View
So, what exactly is the value of a view? Even within the industry, it’s rarely agreed upon. In fact, appraisers are often reluctant to hang any significant value on a view. If only buyer behavior wasn’t so contradictory. We’ve seen stunning views launch full-scale bidding wars. But it’s not easy to quantify a view, so appraisers still frequently shy away from view valuation. Therefore, the gulf between what an appraiser will commit to paper and what a buyer will actually pay can lead to confusion. And from that gulf rise those occurrences when we see truncated views outperforming clear ones.
Homes in LA with a View of Any Size Are a Win
To those shopping for homes in LA, the size of a view is often a distant secondary factor to the fact that a view exists at all. And once that first hurdle is crossed, several other factors combine to determine how much that view is worth. The size of the view isn’t always the biggest consideration. For example, there are those buyers who fall in love with a neighborhood with a very limited inventory of homes that offer views… even partial ones. They might pay top dollar for the shared value of not just staying in their community but also securing that coveted property with a sliver of a view.
Then there are those buyers who approach the market thinking in absolutes. In their experience, the homes at the end of the block or cul-de-sac offer the best views. Therefore, they’ve already convinced themselves that these homes are worth a premium before they’ve even seen the view.
Flipping the Switch
The value of a view isn’t so much like a dial as a switch. Rather than a gradual, steady increase, the view mentality is either on or off. And once it’s on, how much that view is actually worth relies on seller strategy, among other factors. Median prices for homes in LA with ocean views are currently at around $1.15 million. But considering this figure factors in views of all sizes, the range is deceptively wide. Therefore, if you’re looking for LA houses with a view, don’t put all your faith in the property description. Make sure you see the view for yourself before falling in love with an LA home!
With a brand that says as much as JohnHart’s, Senior Copywriter Seth Styles never finds himself at a loss for words. Responsible for maintaining the voice of the company, he spends each day drafting marketing materials, blogs, bios, and agent resources that speak from the company’s collective mind and Hart… errr, heart.
Having spent over a decade in creative roles across a variety of industries, Seth brings with him vast experience in SEO practices, digital marketing, and all manner of professional writing with particular strength in blogging, content creation, and brand building. Gratitude, passion, and sincerity remain core tenets of his unwavering work ethic. The landscape of the industry changes daily, paralleling JohnHart’s efforts to {re}define real estate, but Seth works to maintain the company’s consistent message while offering both agents and clients a new echelon of service.
When not preserving the JohnHart essence in stirring copy, Seth puts his efforts into writing and illustrating an ongoing series entitled The Death of Romance. In addition, he adores spending quality time with his girlfriend and Romeo (his long-haired chihuahua mix), watching ‘70s and ‘80s horror movies, and reading (with a particular penchant for Victorian horror novels and authors Yukio Mishima and Bret Easton Ellis). He also occasionally records music as the vocalist and songwriter for his glam rock band, Peppermint Pumpkin.
