Zillow is a billion-dollar Internet marketer that provides computerized estimates which purport to figure the value of each residence in the United States. Zillow tries to reach this goal this feat by using a sophisticated program that crossreferences factors which alter home 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 search the Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find many complaints 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 Beverly_park report that Zillow's valuations 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 sales 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 buyers and sellers. Property owners and real estate shoppers should know that there is not a single community in Beverly_park where either a bank or tax collector uses Zillow for tax assessment or appraisals. Our professional advice is to take "valuations" from any website with a grain of salt. Putting too much reliance into a website can cause a great deal of unnecessary anxiety.

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