Can I depend on some Internet company to calculate the value of my property in Lakepointe?
Zillow is a billion-dollar Internet marketer that "gives" computerized estimates that claim to calculate the value of each and every home in the United States. Zillow tries to achieve this this task by using a fancy logarithm that compares factors which impact real estate values, but here's a typical 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 Google the Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll discover countless complaints by upset property owners and leery property buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Lakepointe claim that Zillow's estimates 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 ideal price. 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 real estate shoppers. Property owners and property shoppers should know that there is not a single community in Lakepointe where either a mortgage lender or tax collector uses Internet for tax assessment or appraisals. Our expert advice is to take estimates from any computer at arm’s length. Putting too much stock into a computer can cause a great deal of irration.
Get in touch with one of our agents today for a free comparative market analysis of your property's worth. We promise that a computer won't set the value. Rather, your friendly neighborhood Nesbitt Realty real estate pro will account for the unique variables which make up your property's market value.
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