Can I rely on Zillow to calculate the value of my home in Long Branch?
Zillow is a billion-dollar Internet marketer that provides automated estimates which purport to figure the value of each and every property in the United States. Zillow tries to reach this goal this task by using a fancy logarithm which compares factors which impact property values, but here's a story I have heard from home sellers in Northern Virginia:
![Zillow Is Zillow accurate?](https://nesbittrealty.com/wp-content/uploads/2012/11/zillow.gif)
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 discover many complaints by upset property owners and skeptical property purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Long Branch report that Zillow's estimates 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 impressive 5% that means that a z-estimate is only within $25,000 of the asking price.
Yet Zillow still remains popular with some people. Real estate sellers and real estate buyers should know that there is not a single neighborhood in Long Branch where either a bank or tax collector uses Zillow for tax assessment or appraisals. Our professional advice is to take estimates from any computer at arm’s length. Putting too much stock into a computer logarithm can cause a lot of irration.
Get in touch with us today for a free comparative market analysis of your property's market value. We promise that a website won't set the ideal price. Rather, your friendly neighborhood Nesbitt Realty real estate agent will take into account the unique variables which make up your property's value.
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