Can I depend on some Internet company to figure out the value of my property in Waverly View?
Zillow is a billion-dollar Internet marketer that "gives" "z-estimates" that purport to calculate the value of each and every property in the United States. Zillow tries to reach this goal this feat by using a sophisticated logarithm which compares factors which alter property values, but here's a story I have heard from real estate 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 Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find countless posts by angry property owners and leery real estate purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Waverly View claim that Zillow's estimates 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 astounding 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 home buyers should understand that there is not a single community in Waverly View where either a mortgage lender or tax collector uses Internet for tax assessment or appraisals. Our expert advice is to take "valuations" from any online site at arm’s length. Putting too much trust into a computer logarithm can cause a lot of unnecessary anxiety.
Phone us today for a free comparative market analysis of your property's value. We promise that a website won't set the market value. Rather, your friendly neighborhood Nesbitt Realty real estate pro will take into account the unique variables which make up your home's ideal price.
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