Zillow is a billion-dollar Internet marketer that provides computerized estimates which purport to calculate the sales value of every residence in the United States. Zillow tries to reach this goal this feat by using a complicated logarithm which compares factors which alter property values, but here's a typical story I have heard from property 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 research the web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find countless complaints by angry homeowners and skeptical property buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Hunter_station claim that Zillow's estimates 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 value. If the margin of error is an impressive 5% that means that a z-estimate is only within $25,000 of the asking price.

Yet Zillow still remains popular with some buyers and sellers. Home sellers and property shoppers should know that there is not a single neighborhood in Hunter_station where either a mortgage lender or tax collector uses Zillow for tax assessment or appraisals. Our expert advice is to take "valuations" from any website at arm’s length. Putting too much stock into a website can cause a lot of irration.

Reach out to Nesbitt Realty today for a free comparative market analysis of your property's market value. We promise that a computer won't set the ideal price. Rather, your friendly neighborhood Nesbitt Realty Realtor will take into account the complicated variables which make up your home's sales value.