Zillow is a billion-dollar website that "gives" "z-estimates" which claim to calculate the sales value of each and every property in the United States. Zillow tries to accomplish this feat by using a sophisticated algorithm that compares factors which affect property values, but here's a story I have heard from property 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 many complaints by angry property owners and leery property shoppers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Hunters Ridge 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 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. Real estate sellers and real estate shoppers should understand that there is not a single neighborhood in Hunters Ridge where either a bank or tax collector uses Zillow for tax assessment or appraisals. Our professional advice is to take estimates from any computer with a grain of salt. Putting too much reliance into a computer logarithm can cause a great deal of irration.

Connect with us 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 many variables which make up your property's sales value.