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    TIM

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    VALERIE

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Team Toye

Realtors

Timothy Toye & Associates

16360 Hwy 175, Cobb, CA 95426

707-928-6900

140A N Main St, Lakeport, CA 95453

707-263-2052

marketing@teamtoye.com


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June 14, 2023

Bots are confused about this Hidden Valley Lake home

The property at 19085 Coyle Springs Rd in the gated community of Hidden Valley Lake is a 3 bedroom, 2 bathroom single-family home with 1692 square feet of living space. It was built in 1989 and last sold for $329,000 in 2018.  It features a large backyard with a deck. The kitchen has been recently updated with new appliances and granite countertops.


What do the bots think about this home's value? Here are screenshots of what we found:

From a low of $337,000 from Chase, to a high of $415,846 from Remax, the bots differed in their estimates by as much as $78,846.


That's a difference of 23% between the bots.


What was the expert's list price? Team Toye listed this property for $374,950 in June of 2023. 


Let's see how the expert's price compares with each of the bot estimates:

Expert Price vs Bot Estimates for 19085 Coyle Springs Rd, Hidden Valley Lake
19085 Coyle Springs Rd, Hidden Valley Lake, Loss Or Gain Compared to Expert List Price

What is the potential impact on the homeowner? What do they stand to lose or gain, if the property sold for the list price?


On average, bots priced this home at $381,722, which is $6772 or 2% less than the expert's price. That's not too bad. It's still almost $7k.


Looking at the bots individually, Redfin and BofA were pretty close to the expert's price.


Chase priced the property $38,000 below the expert. Remax priced it $41,000 more! The bots are confused.


Thinking about selling? Don't trust bots to estimate your home's value. Request a property value report from one of the Lake County experts from Team Toye. It's free and without obligation.

Request Report
By Lawrence Schoeffler September 15, 2023
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"Those online estimates are simply that: estimates" | Barbara Bellesi Zito My husband and I browse real estate listings occasionally, but we’re perfectly content to stay where we are until both the market and mortgage rates behave themselves again. For kicks, we recently checked out the estimated value of one very interesting listing: our own home. The number surprised us both. “Should we call a real estate agent and start packing?” my husband asked. We came to our senses, of course, fully aware that those online estimates are simply that: estimates. But if this particular site were indeed to be believed, our house was worth $122,000 more than what we bought it for seven years ago. Another listing site pulled up the same figure, while a third offered a more conservative estimate, which was still $68,000 more than what we paid. I did reach out to a few real estate agents, not to list our home, but to get their advice on whether anyone should believe those online home value estimates. Here’s why they think you should take what you see with a proverbial grain of salt...
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