Thank you all for your ad vice. It has been a great help. I am sorry to say that the house didn't work out. My father is a contracter and has built many of houses in his day, took him with us yesterday to take a look, and found out the house has settled ALOT!!! Cracks all around in areas you just dont see, like under the carpet. So moving on. thanks again kjersey

K Jersey, "Recent Sold Comparables" are the best way to know what any local market is doing. Actives don't give a true picture of what a property is worth. Only closed sales of comparable properties have already been through the appraisal process.

If you are obtaining a loan then your lender will not approve your loan amount for more than the appraised value anyway.

Lending institutions rely on closed sale information to price their properties at an amount they think the property can actually sell in the current market.

Most of the services that claim to have foreclosure information require a credit card sign in and also have a disclaimer that their information is deemed reliable but not guaranteed. Many of these paid services only rely on free information from the County Recorder's office which is not always reliable.

Working with a Realtor who has access to the Multiple Listing Service and therefore "Sold Property Prices", is free as the seller/bank pays the commssions.

I have watched foreclosures or short sales. The bank sets the selling price. Remember, you are not dealing with the owner as much as negociating with the bank. You are most likely working with a real estate brokerage and a listing. So, the listing agent and the bank work closely together with the seller to get it closed. Now you know the players.

The best way to find out is to contact your agent and ask for comparable sold and active listings which are similar to the one you want to write an offer and then write an offer based on that information. Your local agent can give more details so that you can a good offer.

Real estate prices are tanking fast now since just last week due to the rates flying upward.

Offer $35,000 and go to $45,000.