Zillow is a billion-dollar Internet marketer that "gives" computerized estimates that purport to figure the value of each property in the United States. Zillow tries to accomplish this task by using a sophisticated algorithm which crossreferences factors which alter 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 Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find many 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 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 value. 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 buyers and sellers. Home sellers and home buyers should understand 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 expert advice is to take "valuations" from any computer with a grain of salt. Putting too much reliance into a website can cause a great deal of confusion.

Email us today for a free comparative market analysis of your property's worth. We promise that a computer won't set the sales value. Instead, your friendly neighborhood Nesbitt Realty expert will take into account the unique variables which make up your home's market value.