Chase Bank Home Value Estimator

[John Franczyk]

Has anyone ever used or relied upon the Chase Bank home value estimator on the bank's website (www.chase.com/mortgage/mortgage-resources/home-value-estimator)? I was recently looking at a single family home on the southwest side of Chicago. Realtor and Zillow had it at $135,000 (the listing price), but the Chase Bank calculator put it at $168,000. The bank's calculator also listed other houses in the neighborhood at higher prices than either Zillow or Realtor. Is Chase using higher prices to justify larger mortgages or is it just an anomaly of how they are estimating value in one neighborhood?