Can I trust a computer to figure out the value of my property in Boulevard_manor?
Zillow is a billion-dollar website that "gives" automated estimates that purport to calculate the market value of each and every property in the United States. Zillow tries to achieve this this task by using a sophisticated logarithm that compares factors which alter home values, but here's a story I have heard from home sellers in Northern Virginia:
![Zillow Is Zillow accurate?](https://nesbittrealty.com/wp-content/uploads/2012/11/zillow.gif)
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 web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find countless testimonials by upset property owners and leery real estate buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Boulevard_manor report 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 sales value. 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 people. Home sellers and property buyers should understand that there is not a single neighborhood in Boulevard_manor where either a mortgage lender or tax collector uses Internet for tax assessment or appraisals. Our professional advice is to take estimates from any website at arm’s length. Putting too much stock into a computer can cause a great deal of confusion.
Call us today for a free comparative market analysis of your property's worth. We promise that a computer won't set the sales value. Rather, your friendly neighborhood Nesbitt Realty expert will take into account the unique variables which make up your real estate's market value.
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