Looking to buy a short sale? I know of so many buyers who shy away, simply because it is a lengthy process which may or may not result in a closing. On the other hand there are buyers who are making ridiculously low offers in the hope of getting a steal.

The analysis that I came up with clearly indicates at the beginning of 2008 the difference in List Price and Sale Price was substantial. But as the months progressed you can see that the gap is narrowing.Even in short sales, the list prices have come down, hence the sale price is not much lower inpercentage value of LP. The relatively good news for sellers in short sales is that they can get out of a bad loan/financial situation without hurting their credit score for a long span of time and maybe able to get the the short pay, off from the credit report in 2 years.For buyers, patience and strategy can lead to getting a bargain.

                                      Windemere Sold Short sales                                   
                                                                        

List Price	Sale Price	Closing Date
$998,000.00	$900,000.00	1/25/2008
$990,000.00	$950,000.00	5/30/2008
$899,000.00	$860,000.00	6/24/2008
$1,175,000.00	$1,050,000.00	7/2/2008
$888,000.00	$860,000.00	7/7/2008
$819,950.00	$720,000.00	7/25/2008
$879,000.00	$860,000.00	7/29/2008
$688,000.00	$690,000.00	8/22/2008
$869,000.00	$862,000.00	8/22/2008
$503,000.00	$503,500.00	8/28/2008
$879,000.00	$855,000.00	9/15/2008
$775,000.00	$720,000.00	9/19/2008
$499,000.00	$510,000.00	9/29/2008
$749,000.00	$750,000.00	11/14/2008
$830,000.00	$830,000.00	12/8/2008
$889,000.00	$830,000.00	12/8/2008
$799,000.00	$725,000.00	12/12/2008
$714,900.00	$693,000.00	12/23/2008

For sellers, a mere hardship is not the only qualification for short selleing their home.There are different components to a short sale which need to be placed in synch to achieve a successful closing.Working with a Realtor who has no clue how to sell a short sale exclusively can hurt every paty involved and make a painful situation worse. I have seen it happen..... many times over !