Zillow is a billion-dollar Internet marketer that provides computerized estimates that claim to calculate the ideal price of each residence in the United States. Zillow tries to achieve this this feat by using a sophisticated algorithm which crossreferences factors which impact real estate values, but here's a 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 Internet for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find countless complaints by angry homeowners and leery property purchasers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in White Post say 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 unlikley 5% that means that a z-estimate is only within $25,000 of the asking price.

Yet Zillow still remains popular with some buyers and sellers. Home sellers and property shoppers should understand that there is not a single community in White Post where either a bank or tax collector uses Zillow for tax assessment or appraisals. Our professional advice is to take "valuations" from any website at arm’s length. Putting too much stock into a computer logarithm can cause a lot of unnecessary anxiety.

Get in touch with us today for a free comparative market analysis of your property's worth. We promise that a website won't set the ideal price. Instead, your friendly neighborhood Nesbitt Realty real estate pro will measure the unique variables which make up your home's ideal price.