Hi Tom. Oh, man, we've been fighting over this question for 3 years now. I usually just walk away when someone insists that REOs/shorts, etc., cannot be used. OF COURSE they can be used, they're COMPS!! But sellers sometimes don't want to face reality and they won't accept these as comps when we list. They are most definitely comps, no matter what anybody says.
Let's go back to RE 101. Now, repeat after me class....."a home is worth what someone is willing to pay for it."
GREAT QUESTION, surprised it has not been asked here before.
Scott Miller, Realty Associates, Boca Raton, FL