Zillow is a popular Internet marketer that provides automated estimates which purport to calculate the ideal price of every residence in the United States. Zillow tries to reach this goal this feat by using a sophisticated algorithm that compares factors which alter property 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 search 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 real estate purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Olde_mill say that Zillow's valuations 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 market 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 (for now) remains popular with some buyers and sellers. Real estate sellers and home buyers should know that there is not a single community in Olde_mill where either a mortgage lender or tax collector uses Internet for tax assessment or appraisals. Our expert advice is to take estimates from any website with a grain of salt. Putting too much reliance into a computer can cause a lot of disappointment.

Call one of our local experts today for a free comparative market analysis of your property's worth. We promise that a computer won't set the market value. Rather, your friendly neighborhood Nesbitt Realty real estate agent will take into account the complicated variables which make up your property's market value.