Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Search for Short Sales and Foreclosures on Oahu Hawaii
 
Short Sales and Foreclosures used to be two sale conditions where there was a HUGE expectation of value for real estate buyers.  Buyers felt that the “Bank's Loss” would be their financial gain.  In today’s real estate market on Oahu, this is not as true as it used to be.  Years ago, a home would be listed for sale it in its neighborhood.  The seller would ask any amount they wanted to for their home and buyers would come and make offers for that home.  The Market Price or Actual Value was determined by the amount the seller and buyer agreed to accept from each other.
 
Then came the Short Sale; A short sale occurs when a bank agrees to accept less for a home than is actually owed on it.  I should say it is when a bank agrees to allow a transfer of ownership of the home for less than is owed on it at the time of the transfer.  The seller may or may not have to pay the difference at a later date.
 
What short sales did to the market value of similar homes in their neighborhoods was to lower their value.  This was ... more

__________________________________________________
Are you on The Rain? Grow Your Network!