Zillow is a billion-dollar website that "gives" "z-estimates" which claim to figure the sales value of each and every residence in the United States. Zillow tries to accomplish this feat by using a sophisticated algorithm that crossreferences factors which impact home 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 research the web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find countless complaints by angry homeowners and leery home shoppers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Stockbridge Condo say 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 market 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 people. Property owners and property purchasers should know that there is not a single community in Stockbridge Condo where either a bank or tax collector uses Internet for tax assessment or appraisals. Our professional advice is to take "valuations" from any website at arm’s length. Putting too much stock into a website can cause a great deal of disappointment.

Reach out to one of our agents today for a free comparative market analysis of your property's value. We promise that a website won't set the sales value. Instead, your friendly neighborhood Nesbitt Realty real estate agent will account for the unique variables which make up your real estate's sales value.