Can I trust some Internet company to calculate the sales price of my property in Merrell Park?
Zillow is a popular Internet marketer that provides automated estimates that purport to figure the market value of every home in the United States. Zillow tries to accomplish this task by using a sophisticated logarithm which crossreferences factors which impact property values, but here's a 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 search the Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find countless posts by angry property owners and leery home purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Merrell Park say that Zillow's estimates 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 sales 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 still remains popular with some buyers and sellers. Home sellers and home buyers should understand that there is not a single neighborhood in Merrell Park where either a bank or tax collector uses Internet for tax assessment or appraisals. Our professional advice is to take estimates from any online site with a grain of salt. Putting too much stock into a website can cause a great deal of disappointment.
Reach out to one of our local experts today for a free comparative market analysis of your property's market value. We promise that a computer won't set the value. Instead, your friendly neighborhood Nesbitt Realty Realtor will take into account the complicated variables which make up your home's sales value.
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