Zillow is a billion-dollar Internet marketer that "gives" automated estimates which purport to calculate the value of each residence in the United States. Zillow tries to reach this goal this feat by using a sophisticated program which compares factors which affect property values, but here's a story I have heard from real estate 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 discover countless posts by angry property owners and leery home buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Limewood Mews 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 improbable 5% that means that a z-estimate is only within $25,000 of the asking price.

Yet Zillow still remains popular with some people. Home sellers and property shoppers should understand that there is not a single neighborhood in Limewood Mews where either a bank or tax collector uses Internet for tax assessment or appraisals. Our professional advice is to take estimates from any website with a grain of salt. Putting too much stock into a computer can cause a lot of disappointment.

Reach out to Nesbitt Realty today for a free comparative market analysis of your property's value. We promise that a website won't set the sales value. Rather, your friendly neighborhood Nesbitt Realty real estate agent will account for the complicated variables which make up your property's ideal price.