Warning: don't trust the Zillow zestimate on a house in Plaza Midwood

I saw a fixer-upper listed at $350k with a zestimate of $420k, so I figured it was a steal. Got the inspection done last week and found out the foundation is cracked bad, needs $30k in repairs. Anyone else had a zestimate make them almost overpay for a total money pit?

2 comments

2 Comments

wesley_hart7d ago

Zestimates are COMPLETELY useless for any house that needs work. That algorithm just looks at square footage and recent sales nearby, it has NO idea about foundation cracks or mold in the walls. You dodged a bullet getting that inspection. I almost bought a house in Dilworth based on the zestimate until my inspector found knob-and-tube wiring everywhere. Trust your gut and the inspector, not Zillow's guess.

keith_singh4d ago

@wesley_hart but what if the zoning there is changing soon and that zestimate is actually low-balling you?