Foreclosure opportunity

I found this house at 385 Cholla Drive, Loveland, CO 80538 offered at $269,212.81. Zillow's Zestimate is $234,500. It is a five bedroom, three bath house. The property is valued at $300,000. The lot size is pretty decent. I don't think I would buy it because the Zillow Zestimate is lower than the initial bidding price.