Zillow is a billion-dollar website that provides "z-estimates" which claim to figure the market value of each property in the United States. Zillow tries to accomplish this feat by using a complicated program that crossreferences factors which impact property values, but here's a story I have heard from property 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 discover many posts by upset property owners and skeptical real estate shoppers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Whittier Acres report that Zillow's estimates have a margin of error of around 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 astounding 5% that means that a z-estimate is only within $25,000 of the asking price.

Yet Zillow still remains popular with some people. Home sellers and real estate buyers should know that there is not a single community in Whittier Acres where either a mortgage lender or tax collector uses Internet for tax assessment or appraisals. Our professional advice is to take estimates from any website with a grain of salt. Putting too much reliance into a website can cause a lot of unnecessary anxiety.

Reach out to one of our agents today for a free comparative market analysis of your property's worth. We promise that a website won't set the market value. Rather, your friendly neighborhood Nesbitt Realty real estate pro will account for the many variables which make up your home's market value.