Zillow is a billion-dollar Internet marketer that "gives" computerized estimates that claim to calculate the sales value of every residence in the United States. Zillow tries to achieve this this feat by using a sophisticated program which compares factors which alter home values, but here's a typical story I have heard from real estate sellers in Northern Virginia:

Our home was recently appraised for 650K. Zillow estimates the value at 521K. The estimate makes us one of the lowest priced homes in the subdivision. We have all upgrades in our home and it is the largest of the homes that were originally built in this subdivision. It was appraised at 750K before 2009. Our home has a basement. Neighbors do not have basement on one side and you appraised higher. Really? -- James E. - Fort Hunt

If you search the Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find many testimonials by upset homeowners and skeptical home purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Braddock Acres claim that Zillow's valuations have a margin of error of around 20%. Even if we assume the margin of error is only 10%, in Northern Virginia that means a "z-estimate" is only within $50,000 of the actual market value. If the margin of error is an astounding 5% that means that a z-estimate is only within $25,000 of the asking price.

Yet Zillow still remains popular with some real estate shoppers. Property owners and property shoppers should understand that there is not a single neighborhood in Braddock Acres where either a bank or tax collector uses Zillow for tax assessment or appraisals. Our expert advice is to take estimates from any website at arm’s length. Putting too much stock into a website can cause a great deal of unnecessary anxiety.

Connect with us today for a free comparative market analysis of your property's market value. We promise that a website won't set the sales value. Instead, your friendly neighborhood Nesbitt Realty real estate agent will measure the complicated variables which make up your real estate's market value.