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Not for me. I want to move, and not 6-12 months from now. In my area it does limit my choices severely, but the non-shorts or bank owned tend to be in much better condition.
If we ever get out of North GA, we hope to move back to Central FL. About 90-95%+ of the listings in our price range ($110 - 140) are Short Sale or REO. We are fine with that.
I have noticed that many of the new listings that I get via e-mail are Foreclosures vs. short sales. That would work out a lot better for us. Prices seem to be low on most listings. A few stand out like sore thumb as "overpriced." Many of the short sales are having price reductions, so I guess they are not always snatched up.
I will do foreclosures but not short sales. I have heard nightmares about short sales taking YEARS to work out.
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