Zillow is a popular website that "gives" "z-estimates" which purport to figure the value of every property in the United States. Zillow tries to accomplish this feat by using a complicated algorithm that crossreferences factors which alter home 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 search the Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find countless posts by upset homeowners and leery property purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in West Vienna Woods 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 ideal price. If the margin of error is an improbable 5% that means that a z-estimate is only within $25,000 of the asking price.

Yet Zillow (for now) remains popular with some people. Property owners and property purchasers should know that there is not a single community in West Vienna Woods 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 reliance into a website can cause a great deal of disappointment.

Reach out to one of our local experts today for a free comparative market analysis of your property's value. We promise that a website won't set the sales value. Rather, your friendly neighborhood Nesbitt Realty real estate pro will take into account the many variables which make up your real estate's value.