Banks do little or nothing with short sale properties until there is actually an executed contract to sort out. Some listing agents will intentionally list a property for an absurdly low price just to attract an offer. It's a no lose proposition for them. They get the bank to work the file and eventually declare an approved price.
If the initial buyer wants to pay the established and substantially higher price, great! If not, the property goes back on the market with a "bank approved price". The next sale opportunity just became much easier.
Of course, the initial buyer possibly wasted 30, 60, 90 days or more chasing a ghost.....
It is a great time to buy Real Estate, with interest rates as low as they are! however home prices are moving up fast. if you see something that really looks to good to be true, It usually is. This home is listed as a Short Sale with Sinkhole activity. that community also has CDD fees that's why the taxes look as high as they do. Some of the Gated communities have CDD fees(community development) with are added to you taxes every year as this home does. also, this being a short sale, they will most likely not be an accepted price by the lender as a sale price. With sinkhole activity, you will not get financing or home owners insurance if it not repaired or repaired correctly. If you would like a web site to search that will show you the homes currently on the market here, please feel free to give me a call. This site updates every half hour, and will send you price changes and new listings every morning. I do look forward to helping you find your new home.
Bill Moffitt, Keller Williams Realty