Can I trust a computer to figure out the value of my property in Middleton Farm?
Zillow is a billion-dollar website that "gives" "z-estimates" which purport to figure the value of each property in the United States. Zillow tries to accomplish this task by using a fancy algorithm that crossreferences factors which affect real estate values, but here's a typical story I have heard from property 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 find countless posts by angry homeowners and skeptical property shoppers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Middleton Farm report that Zillow's valuations 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 sales value. 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. Property owners and home shoppers should know that there is not a single community in Middleton Farm where either a bank 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 stock into a computer can cause a lot of irration.
Contact one of our local experts 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 real estate agent will account for the unique variables which make up your real estate's market value.
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