Can I trust a computer to appraise the sales price of my home in Orchard Crest?
Zillow is a popular website that provides automated estimates that purport to calculate the sales value of every home in the United States. Zillow tries to reach this goal this task by using a fancy program that crossreferences factors which impact 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 Google the web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find many testimonials by angry property owners and leery home shoppers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Orchard Crest report 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 sales 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 still remains popular with some people. Real estate sellers and real estate shoppers should understand that there is not a single neighborhood in Orchard Crest where either a mortgage lender or tax collector uses Internet for tax assessment or appraisals. Our professional advice is to take estimates from any website with a grain of salt. Putting too much reliance into a computer can cause a lot of unnecessary anxiety.
Get in touch with one of our agents today for a free comparative market analysis of your property's worth. We promise that a website won't set the value. Instead, your friendly neighborhood Nesbitt Realty expert will account for the complicated variables which make up your property's market value.
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