How much would you pay for this desert view?

[Victoria Bonhomme]

Hello BP nation! I need your help! I am having a trouble to price this view. My first rehab project is happens to be an old million dollars house with a $????$ view in Palm Springs, CA. There is a very few houses around here with this kind of view. Most recent sale with the view was in April: that house was completely remodeled, but was a 1000 sqft smaller and was sold for $474  sqft. Another remodeled house was sold in August for $303 sqft, but didn't have any view. The owner of my house want $350 for one sqft. which leaves me the approximate $125 a sqft for rehab. The house is 2920 sqft , so increase value could be $365,000, right? The house needs some work to bring it to the Top 10 value. If I spend $100K on rehab and $100K on closing and commissions, I still could profit $100K to $165K. My question is: does the View really increase the value or its a house it self hold the value? The other houses in perfect condition, but without the view selling for $400-$500 even $600 a sqft. If I make my house perfect could I price it more than $474 a sqft? Any advice? Please help! Thank you all!

[Jay Hinrichs]

@Victoria Bonhomme   common reply from an unmotivated seller.. first order of bizz in RE is NEXT