Zillow is a popular website that provides computerized estimates that claim to calculate the value of each and every residence in the United States. Zillow tries to accomplish this feat by using a sophisticated algorithm that compares factors which impact real estate values, but here's a typical story I have heard from home 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 research the Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find countless posts by upset homeowners and skeptical home purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Clifton_trails claim 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 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 still remains popular with some buyers and sellers. Property owners and property purchasers should understand that there is not a single community in Clifton_trails where either a mortgage lender or tax collector uses Internet for tax assessment or appraisals. Our expert advice is to take estimates from any computer with a grain of salt. Putting too much reliance into a computer logarithm can cause a great deal of irration.

Contact 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 value. Instead, your friendly neighborhood Nesbitt Realty real estate agent will measure the unique variables which make up your home's sales value.