You are making an excellent point about impossible short sales. I am aware of it most of the time but got a little careless. I was wondering what you were up to or if you were posting under a new name.
Another killer about impossible short sales is that it distracts buyers from what they can buy and they get a look at what a horrible situation these buildings are in. I would suppose if they are smart they run the other way? An agent, aware of the topic you have just reminded me of, would counsel against buying a place like that at the higher “real” prices(I hope). I think for really distressed condo complexes,for owner occupancy, it is safer to buy in much smaller complexes or wait until this thing sorts itself out a little more.
I missed your point about the SFR. A friend of mine just bought a property in Indio,for a rental, that he thought was around 500K at the peak for 175K. I don’t see why something close to this can’t happen in El Cajon.
