It looks like short sales are starting to get bigger discounts than bank owned properties. This seems to be what I am seeing as well. Most bank owned homes are priced well and have multiple offers within a few days on the market. Short sales, on the other hand, require a buyer to wait for their offer to be approved a few months after they submit it to the seller. In the mean time, they don't know whether the bank will accept their offer or counter with a revised price or terms. If a buyer is willing to go through that ridiculous process, there is an opportunity for a larger discount on price. http://bit.ly/IQoPbv
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