Zillow is a popular Internet marketer that provides computerized estimates that claim to figure the sales value of each and every home in the United States. Zillow tries to accomplish this feat by using a fancy logarithm which compares factors which alter real estate values, but here's a 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 research the web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find countless testimonials 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 Fairfax_center_landbay report 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 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 still remains popular with some real estate shoppers. Real estate sellers and real estate shoppers should know that there is not a single neighborhood in Fairfax_center_landbay where either a mortgage lender or tax collector uses Zillow for tax assessment or appraisals. Our professional advice is to take estimates from any website with a grain of salt. Putting too much trust into a website can cause a great deal of disappointment.

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