Zillow is a popular website that "gives" automated estimates which purport to calculate the sales value of each and every property in the United States. Zillow tries to achieve this this feat by using a complicated program which compares factors which affect real estate 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 search the web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll discover countless complaints by upset property owners and skeptical real estate buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Sandy Run Estates say 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 still remains popular with some buyers and sellers. Home sellers and property buyers should understand that there is not a single community in Sandy Run Estates where either a mortgage lender or tax collector uses Zillow for tax assessment or appraisals. Our professional advice is to take estimates from any website with a grain of salt. Putting too much reliance into a website can cause a great deal of unnecessary anxiety.

Reach out to 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 value. Rather, your friendly neighborhood Nesbitt Realty real estate agent will take into account the many variables which make up your home's ideal price.