Thanks for your advice FormerSanDiegan and SD Realtor. I am somewhat flexible about when I purchase and am ok to wait till fall 2007. At the same time I am trying to look for potential values in the current market. Bottomline though is that short sales do not yet provide the bargains in the SD market that I assume they did – probably is priced low to draw bargain hunters like me 🙂

The property I am referring to is MLS#076007915 is probably a decent value at $600k, but beyond $650K I am not sure. In addition, I found that it has a tax lien, though the exact amount is not specified.

One thing that I want to clarify for my own understanding is if there is any obligation on part of the current owner or the lender to provide full disclosure of the liabilities for the property in case of a short sale ? Also, on whose behalf is the listing agent working – the owner’s or the lender’s ? And, why is the agent even reluctant to show the house ? I thought, in case of a short sale, the prospective buyer deals directly with the owner and the lender ? Again, any insights are much appreciated.