Zillow is a popular website that "gives" computerized estimates that claim to figure the ideal price of each property in the United States. Zillow tries to achieve this this feat by using a complicated algorithm which crossreferences factors which affect property values, but here's a typical story I have heard from real estate 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 many posts by upset homeowners and leery home shoppers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Bromptons At Rosslyn report that Zillow's valuations 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 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. Property owners and real estate shoppers should understand that there is not a single neighborhood in Bromptons At Rosslyn 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 with a grain of salt. Putting too much trust into a website can cause a lot of unnecessary anxiety.

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