Can I rely on some Internet company to figure out the value of my property in Crossfields?
Zillow is a popular Internet marketer that "gives" computerized estimates that purport to figure the ideal price of each and every property in the United States. Zillow tries to achieve this this task by using a sophisticated algorithm that compares factors which affect property values, but here's a story I have heard from home 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 research the web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find countless posts by upset property owners and skeptical property buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Crossfields 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 value. If the margin of error is an astounding 5% that means that a z-estimate is only within $25,000 of the asking price.
Yet Zillow still remains popular with some real estate shoppers. Real estate sellers and real estate buyers should understand that there is not a single neighborhood in Crossfields 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 disappointment.
Talk to one of our agents today for a free comparative market analysis of your property's value. We promise that a website won't set the market value. Instead, your friendly neighborhood Nesbitt Realty Realtor will account for the many variables which make up your real estate's ideal price.
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