Can I depend on Zillow to calculate the sales price of my property in Abbotts Orchard?
Zillow is a billion-dollar website that provides automated estimates which purport to figure the ideal price of every property in the United States. Zillow tries to achieve this this feat by using a fancy algorithm which compares factors which affect real estate values, but here's a typical story I have heard from property sellers in Northern Virginia:
![Zillow Is Zillow accurate?](https://nesbittrealty.com/wp-content/uploads/2012/11/zillow.gif)
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 web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll discover many posts by upset homeowners and leery property buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Abbotts Orchard 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 market value. 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 still remains popular with some real estate shoppers. Real estate sellers and property purchasers should know that there is not a single neighborhood in Abbotts Orchard where either a bank or tax collector uses Internet for tax assessment or appraisals. Our professional advice is to take "valuations" from any website at arm’s length. Putting too much stock into a computer logarithm can cause a great deal of confusion.
Contact 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 value. Rather, your friendly neighborhood Nesbitt Realty expert will measure the many variables which make up your real estate's ideal price.
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