Zillow is a popular Internet marketer that provides computerized estimates which purport to figure the value of each and every home in the United States. Zillow tries to accomplish this task by using a fancy algorithm which compares factors which impact 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 discover many posts by angry property owners and skeptical property purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Riverside_estates say 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 market value. If the margin of error is an improbable 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. Home sellers and property buyers should understand that there is not a single community in Riverside_estates where either a mortgage lender or tax collector uses Internet for tax assessment or appraisals. Our expert advice is to take estimates from any computer at arm’s length. Putting too much stock into a computer logarithm can cause a great deal of unnecessary anxiety.

Reach out to one of our agents today for a free comparative market analysis of your property's market value. We promise that a website won't set the market value. Rather, your friendly neighborhood Nesbitt Realty expert will take into account the many variables which make up your real estate's sales value.