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Putting a price on Tahoe lake views
An amazing view of Lake Tahoe can add hundreds of thousands of dollars onto the price tag of a home in the basin.
By By Annie Flanzraich |
Tahoe.com
The Eskimos supposedly have 100 words for love, because it’s so vital to their existence.
Lake Tahoe Realtors may not have 100 words for “lake view,” but they certainly have a few.
Panoramic view, lake view, filtered lake view, and peak of the lake — all different words for a sliver or an eyeful of the lake that can make a significant difference in the final price.
“A lake view can be worth — and this is a generalization — but a panoramic lake view would probably be worth $300,000 to $500,000,” said Tom Bruno, a Realtor with Coldwell Banker Incline Village Realty.
A view of blue makes such a difference because it's a major attraction for property buyers in the Tahoe Basin.
“The lake is what brings people here,” said Ron Stichter, president elect of the Incline Village Board of Realtors. “Most people want that lake view even if it’s a condo and there’s a little piece of blue in the corner no bigger than a thumbnail.”
But while some buyers come with a lake view in mind, not all settle on a property with one.
“Usually they come in looking for a lakefront and after I scrape them off the floor they find somewhere where they can be comfortable,” said Chris Plastiras, broker/owner of Lakeshore Realty.
Plastiras said people usually factor a lake view into their decision process.
“A lake view is of consideration and is almost as important as elevation, convenience to amenities. That plays into it as well,” he said.
Bruno agreed and said that nine out of 10 people who come into a real estate office to buy a home want a lake view.
“Then they start sorting out what else they want in a home,” he said. “People who have lived here realize they want a lower elevation home. They go through the process of finding a home. They might settle for an average view with a newer home for example.”
Homes with lake views are also often higher end, Plastiras said.
A lake view’s value can also change due to the angle the home is situated, and how high in elevation it is located, all the Realtors agreed.
“Worth also depends on which subdivision,” Bruno said. “Those with lake views on the eastern slope are more valuable than lake views on the top of Tyner, because the eastern slope has better access and larger lots.”
In the end, a lake view can be the deciding factor for some buyers, Plastiras said.
“With two houses being equal if they can afford it they'll go for the better view if it doesn’t pass their threshold of comfort,” he said.
Lake Tahoe Realtors may not have 100 words for “lake view,” but they certainly have a few.
Panoramic view, lake view, filtered lake view, and peak of the lake — all different words for a sliver or an eyeful of the lake that can make a significant difference in the final price.
“A lake view can be worth — and this is a generalization — but a panoramic lake view would probably be worth $300,000 to $500,000,” said Tom Bruno, a Realtor with Coldwell Banker Incline Village Realty.
A view of blue makes such a difference because it's a major attraction for property buyers in the Tahoe Basin.
“The lake is what brings people here,” said Ron Stichter, president elect of the Incline Village Board of Realtors. “Most people want that lake view even if it’s a condo and there’s a little piece of blue in the corner no bigger than a thumbnail.”
But while some buyers come with a lake view in mind, not all settle on a property with one.
“Usually they come in looking for a lakefront and after I scrape them off the floor they find somewhere where they can be comfortable,” said Chris Plastiras, broker/owner of Lakeshore Realty.
Plastiras said people usually factor a lake view into their decision process.
“A lake view is of consideration and is almost as important as elevation, convenience to amenities. That plays into it as well,” he said.
Bruno agreed and said that nine out of 10 people who come into a real estate office to buy a home want a lake view.
“Then they start sorting out what else they want in a home,” he said. “People who have lived here realize they want a lower elevation home. They go through the process of finding a home. They might settle for an average view with a newer home for example.”
Homes with lake views are also often higher end, Plastiras said.
A lake view’s value can also change due to the angle the home is situated, and how high in elevation it is located, all the Realtors agreed.
“Worth also depends on which subdivision,” Bruno said. “Those with lake views on the eastern slope are more valuable than lake views on the top of Tyner, because the eastern slope has better access and larger lots.”
In the end, a lake view can be the deciding factor for some buyers, Plastiras said.
“With two houses being equal if they can afford it they'll go for the better view if it doesn’t pass their threshold of comfort,” he said.
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