Zillow is a billion-dollar website that "gives" automated estimates which purport to calculate the ideal price of every home in the United States. Zillow tries to achieve this this task by using a complicated program that compares factors which alter real estate 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 find many posts by angry property owners and leery real estate purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Braddock_hills report 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 market value. 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 (for now) remains popular with some real estate shoppers. Real estate sellers and home buyers should know that there is not a single community in Braddock_hills 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 reliance into a computer can cause a lot of irration.

Connect with Nesbitt Realty today for a free comparative market analysis of your property's value. We promise that a website won't set the market value. Rather, your friendly neighborhood Nesbitt Realty Realtor will take into account the unique variables which make up your property's value.