Can I rely on Zillow to calculate the market value of my real estate in Groveton_heights?
Zillow is a billion-dollar website that provides "z-estimates" which purport to calculate the ideal price of each and every home in the United States. Zillow tries to achieve this this feat by using a complicated logarithm which compares factors which alter 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 Google the web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll discover many complaints by angry property owners and skeptical property buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Groveton_heights 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 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 buyers and sellers. Property owners and real estate buyers should know that there is not a single neighborhood in Groveton_heights where either a bank or tax collector uses Zillow for tax assessment or appraisals. Our professional advice is to take "valuations" from any online site with a grain of salt. Putting too much trust into a website can cause a great deal of disappointment.
Contact Nesbitt Realty today for a free comparative market analysis of your property's value. We promise that a computer won't set the value. Rather, your friendly neighborhood Nesbitt Realty real estate agent will account for the unique variables which make up your property's sales value.
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