Can I trust a computer to figure out the value of my real estate in Holmes Run Crossing?
Zillow is a popular website that provides automated estimates which purport to figure the value of every residence in the United States. Zillow tries to accomplish this feat by using a complicated logarithm that compares factors which alter real estate values, but here's a typical 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 web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find countless testimonials by upset homeowners and skeptical property shoppers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Holmes Run Crossing claim 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 value. If the margin of error is an impressive 5% that means that a z-estimate is only within $25,000 of the asking price.
Yet Zillow (for now) remains popular with some buyers and sellers. Real estate sellers and real estate buyers should understand that there is not a single neighborhood in Holmes Run Crossing where either a bank or tax collector uses Zillow for tax assessment or appraisals. Our expert advice is to take estimates from any online site at arm’s length. Putting too much reliance into a computer logarithm can cause a lot of irration.
Call us today for a free comparative market analysis of your property's worth. We promise that a website won't set the sales value. Rather, your friendly neighborhood Nesbitt Realty Realtor will account for the many variables which make up your property's value.
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