Zillow is a popular Internet marketer that provides automated estimates which purport to calculate the ideal price of each and every home in the United States. Zillow tries to accomplish this task by using a sophisticated algorithm which compares factors which impact home values, but here's a typical 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 Google the Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find countless complaints by upset property owners and leery home shoppers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Long_branch report that Zillow's valuations have a margin of error of about 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 (for now) remains popular with some buyers and sellers. Property owners and property shoppers should know that there is not a single community in Long_branch where either a mortgage lender or tax collector uses Zillow for tax assessment or appraisals. Our professional advice is to take "valuations" from any online site with a grain of salt. Putting too much trust into a computer can cause a great deal of confusion.

Call one of our local experts today for a free comparative market analysis of your property's market value. We promise that a computer won't set the sales value. Rather, your friendly neighborhood Nesbitt Realty Realtor will take into account the complicated variables which make up your property's market value.