Zillow is a popular website that provides computerized estimates that purport to figure the value of each and every property in the United States. Zillow tries to accomplish this feat by using a complicated logarithm that crossreferences factors which alter property values, but here's a story I have heard from home 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 search the web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find countless testimonials by upset property owners and skeptical real estate buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Jacksons Meadow report 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 (for now) remains popular with some real estate shoppers. Home sellers and property buyers should understand that there is not a single community in Jacksons Meadow where either a bank or tax collector uses Zillow for tax assessment or appraisals. Our expert advice is to take "valuations" from any computer with a grain of salt. Putting too much trust into a computer can cause a great deal of irration.

Contact 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 market value. Instead, your friendly neighborhood Nesbitt Realty real estate agent will measure the complicated variables which make up your property's ideal price.