Zillow is a billion-dollar Internet marketer that "gives" automated estimates that purport to figure the sales value of each home in the United States. Zillow tries to accomplish this feat by using a sophisticated program that compares factors which affect property values, but here's a typical 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 Google the web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find countless complaints by angry property owners and leery property buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Pembrooke say that Zillow's valuations 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 impressive 5% that means that a z-estimate is only within $25,000 of the asking price.

Yet Zillow (for now) remains popular with some people. Real estate sellers and property purchasers should know that there is not a single neighborhood in Pembrooke where either a bank or tax collector uses Internet for tax assessment or appraisals. Our professional advice is to take "valuations" from any computer with a grain of salt. Putting too much stock into a computer logarithm can cause a great deal of disappointment.

Contact Nesbitt Realty today for a free comparative market analysis of your property's worth. We promise that a website won't set the ideal price. Rather, your friendly neighborhood Nesbitt Realty real estate pro will account for the many variables which make up your real estate's value.