Zillow is a popular Internet marketer that "gives" "z-estimates" that purport to calculate the market value of each property in the United States. Zillow tries to reach this goal this feat by using a sophisticated 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 research the Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find many posts by angry homeowners and skeptical home shoppers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Ashley Park report that Zillow's estimates 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 unlikley 5% that means that a z-estimate is only within $25,000 of the asking price.

Yet Zillow (for now) remains popular with some real estate shoppers. Real estate sellers and home purchasers should know that there is not a single neighborhood in Ashley Park where either a bank or tax collector uses Zillow for tax assessment or appraisals. Our expert advice is to take estimates from any computer with a grain of salt. Putting too much trust into a computer logarithm can cause a great deal of confusion.

Phone 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 Realtor will measure the complicated variables which make up your home's market value.