Zillow is a billion-dollar Internet marketer that "gives" automated estimates which claim to figure the value of every property in the United States. Zillow tries to reach this goal this task by using a sophisticated logarithm that crossreferences factors which alter property values, but here's a typical story I have heard from property 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 testimonials by angry property owners and skeptical home buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Millstone_pond report that Zillow's estimates 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 ideal price. 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 people. Home sellers and real estate shoppers should know that there is not a single neighborhood in Millstone_pond where either a bank or tax collector uses Internet for tax assessment or appraisals. Our expert advice is to take "valuations" from any online site with a grain of salt. Putting too much stock into a computer can cause a great deal of unnecessary anxiety.

Email one of our agents today for a free comparative market analysis of your property's market value. We promise that a website won't set the ideal price. Instead, your friendly neighborhood Nesbitt Realty Realtor will account for the many variables which make up your property's value.