Zillow is a popular website that "gives" automated estimates which purport to calculate the ideal price of each home in the United States. Zillow tries to reach this goal this task by using a fancy program that crossreferences factors which alter real estate 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 Google the Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll discover many testimonials by upset homeowners and leery home shoppers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Woodlawn_acres 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 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 (for now) remains popular with some buyers and sellers. Home sellers and home purchasers should understand that there is not a single community in Woodlawn_acres 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 at arm’s length. Putting too much stock into a computer can cause a great deal of irration.

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