Can I trust some Internet company to appraise the sales price of my home in City Park Homes?
Zillow is a popular Internet marketer that provides automated estimates that purport to figure the value of every property in the United States. Zillow tries to reach this goal this task by using a fancy algorithm that compares factors which affect home values, but here's a typical story I have heard from real estate 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 Google the web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find many complaints by upset property owners and skeptical real estate purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in City Park Homes claim that Zillow's valuations have a margin of error of approximately 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 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 real estate shoppers. Home sellers and property purchasers should know that there is not a single community in City Park Homes where either a mortgage lender or tax collector uses Internet for tax assessment or appraisals. Our expert advice is to take estimates from any website with a grain of salt. Putting too much stock into a computer can cause a great deal of confusion.
Phone Nesbitt Realty today for a free comparative market analysis of your property's worth. We promise that a computer won't set the sales value. Rather, your friendly neighborhood Nesbitt Realty real estate agent will account for the complicated variables which make up your property's sales value.
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