Can I depend on some Internet company to appraise the market value of my property in Oak Hill?
Zillow is a popular website that provides automated estimates which purport to calculate the value of each residence in the United States. Zillow tries to accomplish this feat by using a complicated algorithm that compares factors which affect home 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 many testimonials by angry homeowners and skeptical home shoppers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Oak Hill say 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 sales 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 people. Real estate sellers and home shoppers should know that there is not a single neighborhood in Oak Hill where either a bank or tax collector uses Internet for tax assessment or appraisals. Our expert advice is to take estimates from any computer at arm’s length. Putting too much trust into a computer can cause a lot of irration.
Get in touch with one of our agents today for a free comparative market analysis of your property's market value. We promise that a website won't set the market value. Rather, your friendly neighborhood Nesbitt Realty expert will measure the unique variables which make up your real estate's market value.
Obtain a free & accurate assessment of your home's market value
by a local experienced professional!
7 Reasons Why Zillow Estimates Are Inaccurate
Seller's Tips & Tools
a useful reference for property owners that are thinking of selling real estate in Oak Hill
- Agents of Nesbitt Realty
- Awards, recognitions and affiliations
- Can I trust Zillow?
- Get a free price analysis!
- Guide to Oak Hill
- How does Nesbitt Realty market real estate in Oak Hill?
- Selling Tips and Resources
- We'll Match or Beat Any Commission Structure in Oak Hill.
- What is a listing agent?
- What's involved in the Sales Process?
- What's the difference between an agent and a broker?
- Where do we work?
- Why choose Nesbitt Realty?
Read more on how we stack up to the competition
We help sellers in Oak Hill & surrounds
Our real estate agents are dedicated to excellence and are required to continue their education after licensing.
Sales Process
Helpful information and commonly asked questions about selling your property in Northern Virginia.
Our Agents
Learn more about our friendly neighborhood real estate agents!
Why Nesbitt Realty?
Why choose Nesbitt Realty to sell your real estate in Northern Virginia?
What's my home worth?
Find out your home's value according to a full-time professional agent with no cost or obligation.