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As appeared in the Mammoth Real Estate Times, Mid Summer 2001 edition.
Q: A recent cover story of the Los Angeles Real Estate section highlighted the increased value of a home or condo in Southern California if the property has an outstanding view, so it made me wonder how valuable is the view in Mammoth ?
A: We all know that Mammoth has incredible views and visual qualities and thankfully over the years the people who have designed and built so many of Mammoth's homes and condos took advantage of those views as best they could. After years of showing properties in the Eastern Sierra to prospective buyers, one thing is for sure, everybody has a different idea of what a view is. If you hav a spectacular of the coastline at home, then a few distant mountaintops might not be all that interesting. On the other hand, if youdon't have any view at all, then a few mountaintops might be quite inspiring.
The Mammoth area affords different types of views. One of the
most popular is the "down valley view" which is most commonly found
in properties around the east slopes of the Ski Area. These
properties are typically higher in elevation and have views down to
the airport, Crowley Lake, and the White mountains. The red and white
lights from highway 395 and the lights from the airport make this
view especially interesting at night.
The other popular view type is the "up mountain view." With
surrounding mountains rising up over 11,000 feet in elevation, the
3,000 plus foot rise from properties in town can be very dramatic.
The best ones are from the Mammoth Meadow location, especially out
around the Snowcreek golf course. It's funny how some people are
"wowed" by one view and unimpressed with the other-and then others
can't decide which one they like better.
Some people consider trees and forest with no other
obstructions to be an optimal view. Those types are often looking for
a property that abuts Forest Service property. Others find anything
along the creek drainage to be the most desirable, with those types
usually ending up in Snowcreek or Old Mammoth. Others want the
panoramic views offered by properties on the bluffs and ridges and
others just want a view of Mammoth Mountain. And many others are just
happy to have some trees and glimpse or two at the mountains.
Because everybody has a different idea of what a view is and
isn't, some buyers are willing to pay a great deal more for something
they particularly like. Most properties with any kind of excellent
view will command a higher price, especially if the property designer
utilized the view effectively. If you can casually sit in a variety
of locations within the property and be "wowed" by the view, then you
have a valuable view.
But how much value can it add? Like many communities that
offer big views, expensive structures are built on lots with great
views. In the higher price range, these types of views can command
anywhere from an additional $50,000 to $500,000. One of the
interesting things in Mammoth is that there are many lower priced
properties (that were built years ago) that also have great views.
They usually don't last long on the market, but they will command a
$5,000 to $20,000 premium. Ultimately, properties with incredible
views are worth more but more importantly are usually easier to sell.
And condos on nightly rental that have big views usually develop
repeat clientele.
As land values continue to escalate here in Mammoth and more
and more buyers are purchasing older properties with an eye to
remodel, those buyers are keen about what types of view enhancements
can be done-moving living levels upward, adding windows, enlarging
decks, etc.. Unfortunately, views are often improved at the mercy of
trees-trees that 20 or 30 years ago were relatively small now block
views, so branches are removed or the trees are removed entirely.
And some people are content knowing the views are out there
waiting for them when they go for a hike or ski the Mountain. But
there is no doubt that the magnificent views of the Sierra will
always draw visitors and and be desired by owners of real property.
And as long as those views remain, it appears that people will be
willing to pay more and more to enjoy them.
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