Zillow is a popular website that "gives" computerized estimates that purport to calculate the sales value of every property in the United States. Zillow tries to accomplish this task by using a complicated logarithm that compares factors which impact real estate values, but here's a typical story I have heard from home 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 Google the web for the phrase "Can I trust Zillow?" or "Can I trust Z-Estimates" you'll find many testimonials by upset property owners and leery home shoppers who have discovered the hard way just out inaccurate Zillow's pricing can be. Many people in Winchester Historic District say 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 ideal price. 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. Property owners and home purchasers should know that there is not a single community in Winchester Historic District where either a bank or tax collector uses Internet for tax assessment or appraisals. Our professional advice is to take "valuations" from any online site with a grain of salt. Putting too much reliance into a website can cause a lot of unnecessary anxiety.

Phone one of our local experts today for a free comparative market analysis of your property's value. We promise that a computer won't set the market value. Instead, your friendly neighborhood Nesbitt Realty expert will account for the complicated variables which make up your real estate's market value.