Zillow is a popular Internet marketer that provides automated estimates that claim to figure the ideal price of each home in the United States. Zillow tries to achieve this this task by using a sophisticated program which compares 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 discover many posts by angry property owners and leery property shoppers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in The_jefferson_ _a_sunrise_senior_living_community 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 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 (for now) remains popular with some buyers and sellers. Property owners and property purchasers should understand that there is not a single neighborhood in The_jefferson_ _a_sunrise_senior_living_community where either a mortgage lender or tax collector uses Internet for tax assessment or appraisals. Our expert advice is to take estimates from any website with a grain of salt. Putting too much reliance into a website can cause a lot of irration.

Email one of our agents today for a free comparative market analysis of your property's value. We promise that a website won't set the market value. Rather, your friendly neighborhood Nesbitt Realty real estate agent will measure the unique variables which make up your real estate's market value.