Zillow is a popular website that provides automated estimates which claim to calculate the market value of each home in the United States. Zillow tries to achieve this this task by using a fancy algorithm that crossreferences factors which affect property values, but here's a 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 many posts by upset homeowners and leery home shoppers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Ponds At Centreville 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 ideal price. 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 still remains popular with some people. Home sellers and real estate shoppers should know that there is not a single community in Ponds At Centreville where either a mortgage lender or tax collector uses Zillow for tax assessment or appraisals. Our professional advice is to take estimates from any online site with a grain of salt. Putting too much trust into a computer can cause a great deal of irration.

Call one of our local experts today for a free comparative market analysis of your property's market value. We promise that a website won't set the sales value. Instead, your friendly neighborhood Nesbitt Realty Realtor will measure the complicated variables which make up your real estate's market value.