Zillow is a billion-dollar Internet marketer that "gives" automated estimates that claim to figure the market value of each property in the United States. Zillow tries to reach this goal this feat by using a sophisticated program that compares factors which impact home values, but here's a typical 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 search the web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll discover countless posts by angry homeowners and skeptical property buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Bridgewater report that Zillow's estimates 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 ideal price. 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 real estate shoppers. Real estate sellers and property buyers should know that there is not a single neighborhood in Bridgewater where either a bank or tax collector uses Zillow for tax assessment or appraisals. Our professional advice is to take estimates from any online site with a grain of salt. Putting too much stock into a website can cause a lot of confusion.

Get in touch with one of our local experts today for a free comparative market analysis of your property's worth. We promise that a computer won't set the market value. Instead, your friendly neighborhood Nesbitt Realty real estate pro will measure the many variables which make up your property's ideal price.