Zillow is a billion-dollar website that provides automated estimates which claim to figure the sales value of each and every home in the United States. Zillow tries to reach this goal this task by using a fancy algorithm 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 search the web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll discover many posts by angry homeowners and skeptical property buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in North Arlington claim that Zillow's valuations have a margin of error of about 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 improbable 5% that means that a z-estimate is only within $25,000 of the asking price.

Yet Zillow still remains popular with some buyers and sellers. Home sellers and home purchasers should know that there is not a single neighborhood in North Arlington where either a bank or tax collector uses Internet for tax assessment or appraisals. Our professional advice is to take estimates from any online site with a grain of salt. Putting too much stock into a computer can cause a great deal of disappointment.

Phone us today for a free comparative market analysis of your property's value. We promise that a computer won't set the market value. Instead, your friendly neighborhood Nesbitt Realty Realtor will take into account the many variables which make up your real estate's sales value.