Can I rely on Zillow to calculate the market value of my real estate in Gates At Westfalls?
Zillow is a billion-dollar Internet marketer that provides "z-estimates" which purport to figure the value of each and every residence in the United States. Zillow tries to achieve this this feat by using a fancy algorithm that crossreferences factors which alter home values, but here's a story I have heard from home 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 Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll discover many testimonials by angry homeowners and leery home buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Gates At Westfalls claim that Zillow's estimates have a margin of error of about 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 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 people. Property owners and home shoppers should understand that there is not a single neighborhood in Gates At Westfalls where either a mortgage lender or tax collector uses Zillow for tax assessment or appraisals. Our professional advice is to take estimates from any website with a grain of salt. Putting too much trust into a website can cause a lot of disappointment.
Email Nesbitt Realty today for a free comparative market analysis of your property's value. We promise that a computer won't set the sales value. Rather, your friendly neighborhood Nesbitt Realty Realtor will account for the unique variables which make up your property's ideal price.
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