Zillow is a billion-dollar Internet marketer that "gives" automated estimates which purport to calculate the market value of each and every home in the United States. Zillow tries to accomplish this feat by using a complicated logarithm which crossreferences factors which alter real estate values, but here's a typical 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 Google the web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll discover countless posts by angry property owners and leery property purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Great_falls say 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 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 still remains popular with some real estate shoppers. Property owners and real estate purchasers should know that there is not a single community in Great_falls 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 at arm’s length. Putting too much reliance into a computer logarithm can cause a lot of confusion.

Talk to one of our agents today for a free comparative market analysis of your property's market value. We promise that a computer won't set the ideal price. Rather, your friendly neighborhood Nesbitt Realty real estate pro will measure the many variables which make up your home's value.