Zillow is a billion-dollar website that "gives" automated estimates which claim to calculate the sales value of each home in the United States. Zillow tries to reach this goal this task by using a complicated program that compares factors which affect 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 research the Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll discover countless complaints by upset property owners and leery real estate purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in North Washington St Cond 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 market value. If the margin of error is an impressive 5% that means that a z-estimate is only within $25,000 of the asking price.

Yet Zillow (for now) remains popular with some buyers and sellers. Home sellers and property purchasers should understand that there is not a single neighborhood in North Washington St Cond where either a bank or tax collector uses Internet for tax assessment or appraisals. Our professional advice is to take "valuations" from any computer with a grain of salt. Putting too much trust into a computer can cause a great deal of disappointment.

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