Can I depend on some Internet company to appraise the value of my real estate in Colonial_village_iii?
Zillow is a popular Internet marketer that provides automated estimates which claim to calculate the market value of each property in the United States. Zillow tries to reach this goal this feat by using a sophisticated program which crossreferences factors which alter home 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 research the web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find many complaints by upset homeowners and leery home purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Colonial_village_iii claim 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 sales 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 buyers and sellers. Property owners and home shoppers should understand that there is not a single community in Colonial_village_iii where either a bank or tax collector uses Zillow for tax assessment or appraisals. Our professional advice is to take estimates from any computer with a grain of salt. Putting too much reliance into a computer logarithm can cause a lot of confusion.
Contact Nesbitt Realty today for a free comparative market analysis of your property's value. We promise that a website won't set the market value. Instead, your friendly neighborhood Nesbitt Realty real estate agent will take into account the many variables which make up your real estate's sales value.
