Zillow is a billion-dollar Internet marketer that "gives" automated estimates that purport to figure the market value of each property in the United States. Zillow tries to reach this goal this task by using a complicated program which compares factors which alter property values, but here's a story I have heard from home 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 find countless posts by upset property owners and skeptical home shoppers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in The_atrium_condominiums 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 sales 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 still remains popular with some buyers and sellers. Property owners and real estate buyers should understand that there is not a single neighborhood in The_atrium_condominiums where either a bank or tax collector uses Internet for tax assessment or appraisals. Our expert advice is to take "valuations" from any website with a grain of salt. Putting too much reliance into a website can cause a great deal 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 ideal price. Instead, your friendly neighborhood Nesbitt Realty real estate agent will take into account the many variables which make up your home's value.