Zillow is a billion-dollar Internet marketer that provides computerized estimates which purport to figure the sales value of each home in the United States. Zillow tries to reach this goal this feat by using a complicated program that crossreferences 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 Google the Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll discover countless posts by angry homeowners and leery home purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Langley_oaks report that Zillow's valuations 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 unlikley 5% that means that a z-estimate is only within $25,000 of the asking price.

Yet Zillow (for now) remains popular with some real estate shoppers. Real estate sellers and real estate shoppers should understand that there is not a single community in Langley_oaks where either a mortgage lender or tax collector uses Internet for tax assessment or appraisals. Our professional advice is to take "valuations" from any website at arm’s length. Putting too much stock into a website can cause a lot of disappointment.

Email one of our local experts today for a free comparative market analysis of your property's market value. We promise that a computer won't set the value. Instead, your friendly neighborhood Nesbitt Realty real estate pro will take into account the complicated variables which make up your real estate's ideal price.