Can I trust some Internet company to calculate the sales price of my home in Whales_tail?
Zillow is a popular Internet marketer that provides computerized estimates which claim to figure the value of each and every home in the United States. Zillow tries to reach this goal this feat by using a fancy logarithm which compares factors which affect home values, but here's a 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 discover countless testimonials by upset property owners and skeptical home purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Whales_tail report 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 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 people. Real estate sellers and property shoppers should understand that there is not a single community in Whales_tail where either a mortgage lender or tax collector uses Zillow for tax assessment or appraisals. Our expert advice is to take "valuations" from any online site at arm’s length. Putting too much reliance into a website can cause a great deal of confusion.
Contact Nesbitt Realty today for a free comparative market analysis of your property's worth. We promise that a website won't set the sales value. Instead, your friendly neighborhood Nesbitt Realty real estate pro will account for the unique variables which make up your property's ideal price.
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