In today’s real estate market it is a great time to buy a short sale. During a short sale, the owners of the home are selling their home for less than what they owe the bank. The asking price on short sales can be anywhere from 10% - 50% less than what the sellers owe on the mortgage.
The good thing about short sales is of course the price. Most short sale listings are priced at or under market value... read the full blog post HERE