Can I trust a computer to figure out the sales price of my real estate in Main Street?
Zillow is a billion-dollar website that "gives" computerized estimates that claim to figure the value of each and every residence in the United States. Zillow tries to reach this goal this task by using a sophisticated program which compares factors which impact property 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 find countless testimonials by upset homeowners and leery real estate buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Main Street report that Zillow's estimates 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 still remains popular with some people. Real estate sellers and real estate purchasers should understand that there is not a single neighborhood in Main Street where either a mortgage lender or tax collector uses Internet for tax assessment or appraisals. Our expert advice is to take "valuations" from any computer with a grain of salt. Putting too much trust into a website can cause a great deal of confusion.
Contact one of our local experts today for a free comparative market analysis of your property's market value. We promise that a website won't set the market value. Instead, your friendly neighborhood Nesbitt Realty real estate agent will take into account the unique variables which make up your home's value.
Obtain a free & accurate assessment of your home's market value
by a local experienced professional!
7 Reasons Why Zillow Estimates Are Inaccurate
Seller's Tips & Tools
a good source for property owners that are looking at selling real estate in Main Street
- Agents of Nesbitt Realty
- Awards, recognitions and affiliations
- Can I trust Zillow?
- Get a free price analysis!
- Guide to Main Street
- How does Nesbitt Realty market real estate in Main Street?
- Selling Tips and Resources
- We'll Match or Beat Any Commission Structure in Main Street.
- What is a listing agent?
- What's involved in the Sales Process?
- What's the difference between an agent and a broker?
- Where do we work?
- Why choose Nesbitt Realty?
Read more on how we stack up to the competition
Is it time to sell?
Call (703)765-0300 to talk with an agent.
We help sellers in Main Street & surrounds
We appreciate every opportunity and love the fact that you picked us.
Sales Process
Helpful information and commonly asked questions about selling your property in Northern Virginia.
Our Agents
Learn more about our friendly neighborhood real estate agents!
Why Nesbitt Realty?
Why choose Nesbitt Realty to sell your real estate in Northern Virginia?
What's my home worth?
Find out your home's value according to a full-time professional agent with no cost or obligation.