Can I trust a computer to calculate the value of my real estate in Roosevelt Place?
Zillow is a popular Internet marketer that "gives" computerized estimates which purport to figure the value of each and every home in the United States. Zillow tries to accomplish this feat by using a sophisticated algorithm that compares factors which alter home values, but here's a story I have heard from real estate 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 many posts by upset property owners and skeptical home buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Roosevelt Place 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 improbable 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 purchasers should understand that there is not a single neighborhood in Roosevelt Place where either a bank or tax collector uses Internet for tax assessment or appraisals. Our professional advice is to take estimates from any computer at arm’s length. Putting too much stock into a website can cause a lot of unnecessary anxiety.
Contact one of our agents today for a free comparative market analysis of your property's market value. We promise that a computer won't set the ideal price. Instead, your friendly neighborhood Nesbitt Realty expert will measure the unique variables which make up your property's sales value.
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7 Reasons Why Zillow Estimates Are Inaccurate
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