Can I depend on some Internet company to figure out the sales price of my home in Stokes_jeramiah?
Zillow is a popular Internet marketer that provides computerized estimates that purport to calculate the market value of every residence in the United States. Zillow tries to reach this goal this task by using a fancy logarithm that compares factors which impact property 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 research the web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find many testimonials by angry property owners and leery home shoppers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Stokes_jeramiah report that Zillow's estimates 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 ideal price. 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 still remains popular with some buyers and sellers. Real estate sellers and property buyers should know that there is not a single community in Stokes_jeramiah where either a bank or tax collector uses Internet for tax assessment or appraisals. Our professional advice is to take estimates from any online site at arm’s length. Putting too much trust into a computer can cause a great deal of confusion.
Contact Nesbitt Realty today for a free comparative market analysis of your property's worth. We promise that a computer won't set the value. Rather, your friendly neighborhood Nesbitt Realty Realtor will account for the unique variables which make up your home's ideal price.
