Zillow is a popular Internet marketer that "gives" "z-estimates" that claim to calculate the value of each home in the United States. Zillow tries to achieve this this task by using a fancy algorithm that crossreferences factors which affect property values, but here's a 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 research the Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find many posts by angry homeowners and leery property buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Sudley Manor say that Zillow's valuations have a margin of error of about 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 (for now) remains popular with some buyers and sellers. Home sellers and home purchasers should understand that there is not a single community in Sudley Manor where either a mortgage lender or tax collector uses Zillow for tax assessment or appraisals. Our expert 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.

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 ideal price. Instead, your friendly neighborhood Nesbitt Realty real estate agent will account for the unique variables which make up your home's ideal price.