Zillow is a billion-dollar Internet marketer that provides computerized estimates that purport to calculate the sales value of each residence in the United States. Zillow tries to achieve this this task by using a sophisticated algorithm which crossreferences factors which alter home values, but here's a 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 Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll discover many posts by upset homeowners and skeptical real estate shoppers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Park_glen_comdominium 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 sales value. 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. Real estate sellers and property buyers should understand that there is not a single community in Park_glen_comdominium where either a mortgage lender or tax collector uses Internet for tax assessment or appraisals. Our expert advice is to take "valuations" from any computer with a grain of salt. Putting too much reliance into a computer logarithm can cause a lot of disappointment.

Connect with Nesbitt Realty today for a free comparative market analysis of your property's worth. We promise that a computer won't set the sales value. Rather, your friendly neighborhood Nesbitt Realty Realtor will measure the complicated variables which make up your real estate's ideal price.