Can I rely on some Internet company to figure out the market value of my property in George_mason_village?
Zillow is a billion-dollar Internet marketer that "gives" "z-estimates" that purport to figure the ideal price of each and every property in the United States. Zillow tries to achieve this this feat by using a sophisticated program which crossreferences factors which impact property values, but here's a typical 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 Google the Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll discover many testimonials by angry property owners and leery home buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in George_mason_village claim 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 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 real estate shoppers. Home sellers and real estate purchasers should understand that there is not a single neighborhood in George_mason_village where either a bank or tax collector uses Internet for tax assessment or appraisals. Our professional advice is to take "valuations" from any online site at arm’s length. Putting too much stock into a computer can cause a great deal of confusion.
Phone us today for a free comparative market analysis of your property's market value. We promise that a website won't set the value. Instead, your friendly neighborhood Nesbitt Realty real estate pro will measure the unique variables which make up your real estate's sales value.
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