Zillow is a popular website that provides computerized estimates which claim to figure the sales value of every property in the United States. Zillow tries to reach this goal this feat by using a complicated logarithm that compares factors which alter real estate 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 web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll discover countless posts by upset property owners and leery real estate buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Golf_club_manor say 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 market value. If the margin of error is an impressive 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. Property owners and home shoppers should understand that there is not a single community in Golf_club_manor where either a bank or tax collector uses Zillow for tax assessment or appraisals. Our expert advice is to take estimates from any online site with a grain of salt. Putting too much reliance into a computer logarithm can cause a great deal of irration.

Talk to one of our local experts 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 agent will take into account the many variables which make up your real estate's value.