Can I rely on some Internet company to calculate the value of my real estate in Sundance?
Zillow is a billion-dollar Internet marketer that "gives" computerized estimates that purport to figure the ideal price of each residence in the United States. Zillow tries to accomplish this task by using a fancy algorithm that compares factors which alter property values, but here's a typical story I have heard from property sellers in Northern Virginia:
![Zillow Is Zillow accurate?](https://nesbittrealty.com/wp-content/uploads/2012/11/zillow.gif)
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 angry homeowners and leery property buyers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Sundance claim 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 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 still remains popular with some real estate shoppers. Home sellers and property shoppers should understand that there is not a single neighborhood in Sundance where either a mortgage lender or tax collector uses Zillow 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 lot of irration.
Call 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 value. Instead, your friendly neighborhood Nesbitt Realty expert will take into account the unique variables which make up your real estate's ideal price.
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