Can I rely on some Internet company to appraise the value of my real estate in Monticello_forest?
Zillow is a billion-dollar Internet marketer that "gives" automated estimates which claim to calculate the ideal price of each property in the United States. Zillow tries to reach this goal this feat by using a fancy logarithm which crossreferences factors which affect real estate 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 Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find many complaints by angry homeowners and leery real estate shoppers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Monticello_forest claim that Zillow's valuations have a margin of error of around 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 astounding 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. Real estate sellers and home buyers should know that there is not a single neighborhood in Monticello_forest where either a mortgage lender or tax collector uses Zillow for tax assessment or appraisals. Our expert advice is to take estimates from any website with a grain of salt. Putting too much trust into a website can cause a great deal of disappointment.
Talk to us today for a free comparative market analysis of your property's market value. We promise that a computer won't set the market value. Instead, your friendly neighborhood Nesbitt Realty real estate agent will measure the many variables which make up your real estate's sales value.
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