Can I trust Zillow to calculate the value of my home in Leigh Meadow?
Zillow is a popular website that "gives" computerized estimates that claim to figure the market value of each and every home in the United States. Zillow tries to reach this goal this feat by using a sophisticated program which compares factors which alter real estate values, but here's a 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 search the Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find countless testimonials by upset homeowners and leery home purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Leigh Meadow report 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 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 (for now) remains popular with some buyers and sellers. Real estate sellers and home buyers should understand that there is not a single neighborhood in Leigh Meadow where either a mortgage lender or tax collector uses Zillow for tax assessment or appraisals. Our expert advice is to take "valuations" from any online site with a grain of salt. Putting too much stock into a computer logarithm can cause a great deal of confusion.
Reach out to 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 ideal price. Rather, your friendly neighborhood Nesbitt Realty real estate agent will account for the complicated variables which make up your home's ideal price.
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 handy reference for property owners that are thinking of selling real estate in Leigh Meadow
- Agents of Nesbitt Realty
- Awards, recognitions and affiliations
- Can I trust Zillow?
- Get a free price analysis!
- Guide to Leigh Meadow
- How does Nesbitt Realty market real estate in Leigh Meadow?
- Selling Tips and Resources
- We'll Match or Beat Any Commission Structure in Leigh Meadow.
- 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 Leigh Meadow & surrounds
Nesbitt Realty is your real estate resource in Northern Virginia.
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.