Zillow is a billion-dollar website that "gives" computerized estimates which purport to figure the sales value of each property in the United States. Zillow tries to accomplish this feat by using a sophisticated logarithm that crossreferences factors which alter property values, but here's a story I have heard from home 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 research the web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll discover many complaints by angry homeowners and leery real estate purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Hawthorne Forest report 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 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 people. Real estate sellers and real estate shoppers should understand that there is not a single community in Hawthorne Forest where either a mortgage lender or tax collector uses Internet for tax assessment or appraisals. Our expert advice is to take estimates from any online site with a grain of salt. Putting too much trust into a website can cause a lot of irration.

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