Zillow is a billion-dollar website that provides automated estimates that claim to calculate the sales value of each and every residence in the United States. Zillow tries to achieve this this feat by using a complicated program which compares factors which affect real estate 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 search the Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find countless complaints by upset property owners and skeptical home purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Ridge_view report 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 improbable 5% that means that a z-estimate is only within $25,000 of the asking price.

Yet Zillow still remains popular with some people. Home sellers and property buyers should understand that there is not a single neighborhood in Ridge_view where either a bank or tax collector uses Zillow for tax assessment or appraisals. Our professional advice is to take "valuations" from any website with a grain of salt. Putting too much stock into a website can cause a great deal of irration.

Contact us today for a free comparative market analysis of your property's value. We promise that a website won't set the value. Rather, your friendly neighborhood Nesbitt Realty real estate pro will account for the unique variables which make up your home's ideal price.