Zillow is a billion-dollar website that "gives" "z-estimates" which claim to calculate the value of each and every residence in the United States. Zillow tries to accomplish this feat by using a complicated algorithm which compares factors which impact home values, but here's a story I have heard from property 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 search the Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find countless testimonials by angry property owners and leery property purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in 1800_wilson_blvd_condominium report that Zillow's valuations 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 astounding 5% that means that a z-estimate is only within $25,000 of the asking price.

Yet Zillow (for now) remains popular with some real estate shoppers. Home sellers and real estate purchasers should know that there is not a single neighborhood in 1800_wilson_blvd_condominium where either a mortgage lender or tax collector uses Zillow for tax assessment or appraisals. Our professional advice is to take estimates from any online site with a grain of salt. Putting too much reliance into a computer can cause a lot of confusion.

Contact Nesbitt Realty today for a free comparative market analysis of your property's market value. We promise that a computer won't set the value. Instead, your friendly neighborhood Nesbitt Realty Realtor will account for the unique variables which make up your property's value.