1.) “Right now, I am in escrow for buyers who are getting something that I consider to be at least 10-15% below market”
2.) “Short sales have the potential to be closer to normal sales than bank owned sales do. Therefore, they could help dramatically to normalize the market. If you think about it, short sales could be done with far less waste.”
The bank owned deals that I am seeing almost always get bid up to “market value” unless there is fraud going on by the listing agent or the bank starts too high in price. Perhaps the “short sale” idea does have potential but right now I am still seeing way too much fraud and its the “short sales” that always seem to close below or sometimes even well below “market value”.
