Can I trust Zillow to figure out the sales price of my real estate in Olympus?
Zillow is a popular Internet marketer that "gives" "z-estimates" that purport to figure the value of each and every residence in the United States. Zillow tries to achieve this this task by using a complicated algorithm which compares factors which affect home values, but here's a typical 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 web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll discover countless testimonials by angry property owners and leery home purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Olympus report that Zillow's valuations 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 sales 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 (for now) remains popular with some real estate shoppers. Property owners and home shoppers should know that there is not a single neighborhood in Olympus where either a mortgage lender or tax collector uses Zillow for tax assessment or appraisals. Our expert advice is to take "valuations" from any computer with a grain of salt. Putting too much trust into a website can cause a great deal of irration.
Phone 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 ideal price. Instead, your friendly neighborhood Nesbitt Realty real estate agent will take into account the many variables which make up your home's value.
Obtain a free & accurate assessment of your home's market value
by a local experienced professional!
7 Reasons Why Zillow Estimates Are Inaccurate
Seller's Tips & Tools
a useful source for property owners that are thinking of selling real estate in Olympus
- Agents of Nesbitt Realty
- Awards, recognitions and affiliations
- Can I trust Zillow?
- Get a free price analysis!
- Guide to Olympus
- How does Nesbitt Realty market real estate in Olympus?
- Selling Tips and Resources
- We'll Match or Beat Any Commission Structure in Olympus.
- What is a listing agent?
- What's involved in the Sales Process?
- What's the difference between an agent and a broker?
- Where do we work?
- Why choose Nesbitt Realty?
Read more on how we stack up to the competition
How much is your property worth?
Get a fast and free appraisal from a local expert.
We help sellers in Olympus & surrounds
Whenever you need us, just call. Our real estate representatives adore assisting clients in fulfilling their real estate objectives!
Sales Process
Helpful information and commonly asked questions about selling your property in Northern Virginia.
Our Agents
Learn more about our friendly neighborhood real estate agents!
Why Nesbitt Realty?
Why choose Nesbitt Realty to sell your real estate in Northern Virginia?
What's my home worth?
Find out your home's value according to a full-time professional agent with no cost or obligation.