LAKE VIEW PROPERTIES
Lake view at Lake Tahoe is a commodity that means more to some, less to others. The value can be only be estimated based upon historical market trends. The values listed below were based upon information presented in: "Water Views and Res Property Values by Benson", et.al. The value added factors must be considered multipliers to the value otherwise determined. Even though these factors are based upon information in the cited reference, market data strongly support their applicability to the Lake Tahoe area.
It is interesting that distance from the lake affects the value addition.
Plots Below Show Recent Price Trends for Lake View and Non- Lake View Properties. From the Least Squares fits to the data, it is obvious that Lake View properties sell at about 30% higher value than non-lakeview properties. While Lake View Properties also appreciate at a slightly greater absolute rate, the percentage rate of appreciation is actually higher for non Lake View Properties. This is because non-Lakeview properties are more affordable (average sold price was $552k for non-lakeview and $1,133k for Lake View). Thus, the Lake view homes are typically larger (3325sq ft compared to 2223 sq ft for non-lake view homes).
Note: This information prepared by Robert Dickerson, and you must be advised that he is not a qualified Real Estate Appraiser.