Amy Hoak explains that getting the most for your housing dollar depends on your market area. In some, like the South Bay, your best deal may be a standard sale, properly negotiated. Let investors fight it out over the relatively few foreclosures and short sales!
In others, prevalent foreclosures (REO's) could be a better bet.
How about short sales? Those are a very long shot UNLESS a previously bank-approved sale has fallen through. Then the pump may be primed for a successful short sale.
More info: Home buyers, get the most for your money Amy Hoak's Home Economics - MarketWatch
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