Zillow is a billion-dollar website that "gives" "z-estimates" which purport to calculate the market value of each property in the United States. Zillow tries to reach this goal this feat by using a complicated logarithm that compares factors which impact 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 Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll discover countless testimonials by upset homeowners and leery home purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Atrium_condo report that Zillow's valuations 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 ideal price. 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 (for now) remains popular with some buyers and sellers. Property owners and property shoppers should know that there is not a single community in Atrium_condo where either a bank or tax collector uses Internet for tax assessment or appraisals. Our professional advice is to take estimates from any computer with a grain of salt. Putting too much stock into a computer can cause a great deal of disappointment.

Connect with one of our local experts today for a free comparative market analysis of your property's market value. We promise that a computer won't set the sales value. Rather, your friendly neighborhood Nesbitt Realty real estate pro will take into account the many variables which make up your property's sales value.