Zillow is a popular Internet marketer that "gives" computerized estimates which purport to calculate the market value of each property in the United States. Zillow tries to accomplish this feat by using a sophisticated program that crossreferences factors which impact real estate 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 search the web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find countless posts by upset homeowners and skeptical real estate purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in West_village_of_shirlington_condo report 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 ideal price. 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. Real estate sellers and property shoppers should know that there is not a single community in West_village_of_shirlington_condo 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 stock into a computer can cause a great deal of unnecessary anxiety.

Get in touch with us today for a free comparative market analysis of your property's value. We promise that a computer won't set the market value. Rather, your friendly neighborhood Nesbitt Realty Realtor will measure the unique variables which make up your real estate's sales value.