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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 24, 2023

4 Reasons Why You Shouldn’t Believe Online Home Value Estimates

"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...

"Zestimate at $349K despite comps being above $600K"

By Lawrence Schoeffler • September 15, 2023
@SacAppraiser | Ryan Lundquist Zestimate history. This property in Roseville listed at $349K, and the Zestimate matched the list price at $349K despite comps being above $600K. After 11 days the price went to $699K (sold $638K). Today's Zestimate shows no history of $349K. Maybe a brief Zestimate gets erased?

"The Zestimate Was Actually 25% Lower"

By Lawrence Schoeffler • August 16, 2023
How Accurate Is My Zestimate Home Valuation? | The Jill Biggs Group Have you ever wondered just how accurate Zillow's Zestimate really is when it comes to estimating the value of your home? 🏠💰 In this video, we delve into the world of Zestimates and break down the factors that influence their accuracy. 🔍 What is a Zestimate? The Zestimate is Zillow's proprietary home valuation model that provides an estimate of a property's market value. By utilizing a mix of public records, Multiple Listing Service (MLS) data, and user-contributed information, Zillow's formula calculates an estimated value. The model also takes into consideration various factors such as property details, location, and current market trends. 📊 How is a Zestimate Calculated? Discover the intricate details behind the algorithm that powers Zestimates. We'll explain the data sources used, including publicly available records and user-generated data, and how these inputs are processed to generate an estimate. Uncover the role of MLS data and how it contributes to refining the accuracy of the Zestimate...

One bot's estimate misses by $100,000 for this Loch Lomond home at 13545 Casale Dr

By Lawrence Schoeffler • June 22, 2023
The property at 13545 Casale Dr is a 1,658 square foot, 2-bedroom, 2-bathroom home on a 1.19-acre lot in the Loch Lomond neighborhood of Middletown . The home was built in 1988 and features a living room with fireplace, dining room, kitchen, two bedrooms, two bathrooms, and a two-car garage. The lot also includes a large backyard with patio, deck, and hot tub. What do the bots think about this property's value? Here are screenshots of what we found:
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