Zillow is a billion-dollar website that "gives" computerized estimates that claim to figure the ideal price of every property in the United States. Zillow tries to reach this goal this task by using a sophisticated algorithm which crossreferences factors which affect home 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 Google the Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find countless complaints by angry property owners and leery real estate buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in 1800_wilson_boulevard_condominium claim that Zillow's estimates 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 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 real estate shoppers. Real estate sellers and home shoppers should understand that there is not a single community in 1800_wilson_boulevard_condominium where either a mortgage lender or tax collector uses Zillow for tax assessment or appraisals. Our professional advice is to take estimates from any website at arm’s length. Putting too much reliance into a computer can cause a great deal of irration.

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