Can I depend on some Internet company to calculate the value of my property in Vinehaven?
Zillow is a billion-dollar website that provides "z-estimates" which claim to calculate the sales value of every home in the United States. Zillow tries to accomplish this task by using a sophisticated logarithm that compares factors which impact real estate values, but here's a 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 web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find countless testimonials by angry homeowners and leery property shoppers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Vinehaven 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 market value. If the margin of error is an unlikley 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 shoppers should know that there is not a single community in Vinehaven where either a bank or tax collector uses Internet for tax assessment or appraisals. Our expert advice is to take "valuations" from any website at arm’s length. Putting too much reliance into a website can cause a lot of confusion.
Email Nesbitt Realty today for a free comparative market analysis of your property's market value. We promise that a computer won't set the market 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.
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