what I have been finding is you get the short sale attempt approaching the true price point. but the lender rejects it and let it head to foreclosure. by the time the lender has it as a REO, guess what, it is listed at the short sale prices or a bit above.
if the prices are holding up so well, why the price reductions:
–09/2007: listed for sale at $475,000.
–Price Reduced: 09/19/07 — $475,000 to $459,000
–Price Reduced: 09/26/07 — $459,000 to $445,000
–Price Reduced: 10/03/07 — $445,000 to $435,000
–Price Reduced: 10/10/07 — $435,000 to $425,000
–Price Reduced: 10/29/07 — $425,000 to $409,000
