Zillow is a popular website that "gives" automated estimates which purport to calculate the sales value of each residence in the United States. Zillow tries to reach this goal this feat by using a fancy algorithm which crossreferences factors which alter property values, but here's a 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 Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find many testimonials by upset property owners and leery property buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Colonial_village_i say that Zillow's estimates have a margin of error of about 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 value. If the margin of error is an unlikley 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 real estate shoppers should know that there is not a single neighborhood in Colonial_village_i where either a mortgage lender or tax collector uses Zillow for tax assessment or appraisals. Our professional advice is to take "valuations" from any computer with a grain of salt. Putting too much stock into a computer can cause a lot of unnecessary anxiety.

Phone one of our local experts today for a free comparative market analysis of your property's worth. We promise that a website won't set the value. Instead, your friendly neighborhood Nesbitt Realty Realtor will account for the complicated variables which make up your real estate's ideal price.