Can I rely on Zillow to calculate the value of my real estate in Blas_g_garcia?
Zillow is a popular Internet marketer that "gives" computerized estimates that claim to calculate the ideal price of every residence in the United States. Zillow tries to accomplish this feat by using a fancy program that crossreferences factors which alter home 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 Google the Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll discover countless testimonials by upset homeowners and skeptical home buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Blas_g_garcia say that Zillow's estimates have a margin of error of about 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 still remains popular with some real estate shoppers. Home sellers and property shoppers should know that there is not a single neighborhood in Blas_g_garcia where either a bank or tax collector uses Zillow for tax assessment or appraisals. Our expert advice is to take estimates from any computer with a grain of salt. Putting too much trust into a computer can cause a lot of disappointment.
Contact one of our agents today for a free comparative market analysis of your property's value. We promise that a website won't set the ideal price. Instead, your friendly neighborhood Nesbitt Realty expert will take into account the complicated variables which make up your property's sales value.
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7 Reasons Why Zillow Estimates Are Inaccurate
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