Buying a short sale vs buying a foreclosure (sales, banks, price)

[alsidw]

I am shopping for a house in Florida and would like to know as a buyer the differences in short sales and foreclosures.
I know short sales take time and there is always a lot of back and forth. Normally I would not look at a short sale, but I am considering foreclosures because there are relatively few straight conventional sales.

[aneftp]

Just remember Florida is judicial foreclosure state.

Contested foreclosure take over 4 years to complete.

These days short sales go for 10-20% less than forclosures. It's cause of funky math. Kickbacks govt gives banks for approving short sales.

Some shorts can be completed in 60 days. Some take over 1 year. Those that take over 1 year are often the best bargains.

If foreclosure isn't snagged within hours of hitting the market. It's overpriced. But the foreclosurss I am seeing these days are way overprice. It's only after the bank reduces it by 10% does it draw activity.