We are all aware of the flood of pre-foreclosures in the market. Markets like Arizona are really hurting from all of these foreclosures and short sales. The comps way under market are now so prevelant that they have re-drawn the market value altogether. There are tons of reasons to hate short sales. 
As a listing agent of a couple pre-foreclosure homes, the specific thing I hate, besides the hassle of the lender, is the fact that most sellers still think they should price the home comparative to the "regular" listings. I have a seller that is questioning everything we've done to get traffic through the home but they have refused, several times, to reduce the price to not only what it should be given the comps, but further due to the short sale situation. How many ways is there to explain that an overpriced, average home will not attract tons of buyers. Especially when the agents know of the hassle of dealing with the lender and extra time frame usually involved. Time is of essence. The sellers are a couple months away from losing the home altogether, yet they want to "feel out" their pricing decisions.
I know it just sounds like I am complaining about my sellers. That actually is not my real intention. I think my situation is no different from many other agents. I am confused as to how so many sellers in this situation are still not understanding the reality. I have tried to educate my seller several times. Is it just me or is there a need for an industry-wide education of our sellers and buyers? Short sales are great for investors and people that have time to wait. We need to focus energy on the buyers as well.
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