Zillow is a billion-dollar Internet marketer that "gives" computerized estimates which claim to figure the value of each and every residence in the United States. Zillow tries to accomplish this task by using a complicated algorithm which compares factors which alter real estate values, but here's a story I have heard from home 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 Google the web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll discover countless posts by upset homeowners and skeptical property purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Majesty West say that Zillow's estimates have a margin of error of approximately 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 astounding 5% that means that a z-estimate is only within $25,000 of the asking price.

Yet Zillow (for now) remains popular with some people. Real estate sellers and real estate purchasers should know that there is not a single neighborhood in Majesty West where either a bank or tax collector uses Internet for tax assessment or appraisals. Our professional advice is to take estimates from any computer at arm’s length. Putting too much trust into a computer logarithm can cause a lot of confusion.

Talk to Nesbitt Realty today for a free comparative market analysis of your property's market value. We promise that a website won't set the ideal price. Instead, your friendly neighborhood Nesbitt Realty Realtor will account for the unique variables which make up your real estate's sales value.