Zillow is a popular Internet marketer that "gives" computerized estimates that purport to figure the sales value of every residence in the United States. Zillow tries to accomplish this task by using a fancy logarithm which compares factors which alter property values, but here's a typical story I have heard from real estate sellers in Northern Virginia:

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 discover countless complaints by upset property owners and skeptical property shoppers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Whitehaven report that Zillow's estimates 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 improbable 5% that means that a z-estimate is only within $25,000 of the asking price.

Yet Zillow still remains popular with some real estate shoppers. Real estate sellers and property shoppers should know that there is not a single neighborhood in Whitehaven where either a bank or tax collector uses Zillow for tax assessment or appraisals. Our professional advice is to take "valuations" from any computer at arm’s length. Putting too much reliance into a computer can cause a great deal of confusion.

Connect with one of our agents today for a free comparative market analysis of your property's market value. We promise that a website won't set the value. Rather, your friendly neighborhood Nesbitt Realty expert will take into account the complicated variables which make up your real estate's value.