Zillow is a popular website that provides automated estimates which purport to calculate the sales value of each and every residence in the United States. Zillow tries to accomplish this feat by using a complicated program that compares factors which affect 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 research the web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find many complaints by upset property owners and skeptical real estate purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Bryce Mountain Resor claim 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 market 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 (for now) remains popular with some people. Home sellers and property buyers should understand that there is not a single neighborhood in Bryce Mountain Resor where either a mortgage lender or tax collector uses Zillow for tax assessment or appraisals. Our expert advice is to take "valuations" from any website at arm’s length. Putting too much reliance into a computer logarithm can cause a great deal of disappointment.

Email one of our agents today for a free comparative market analysis of your property's value. We promise that a computer won't set the sales value. Rather, your friendly neighborhood Nesbitt Realty Realtor will take into account the unique variables which make up your real estate's sales value.