Zillow is a billion-dollar website that provides automated estimates that purport to calculate the ideal price of each residence in the United States. Zillow tries to accomplish this feat by using a complicated program that compares factors which alter property values, but here's a 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 search the Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find countless posts by upset property owners and leery home buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Village At Herndon Mills 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 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 buyers and sellers. Home sellers and home purchasers should understand that there is not a single neighborhood in Village At Herndon Mills where either a mortgage lender or tax collector uses Zillow for tax assessment or appraisals. Our expert advice is to take estimates from any online site at arm’s length. Putting too much reliance into a computer can cause a great deal of unnecessary anxiety.

Call us today for a free comparative market analysis of your property's market value. We promise that a website won't set the market value. Instead, your friendly neighborhood Nesbitt Realty real estate agent will account for the unique variables which make up your home's sales value.