If not, then keep in mind, "Normal" historical appreciation of real estate is generally around 2-6% per year. Ask yourself how many years, not being optimistic, but, rather, realistic, it will take to recuperate your lost equity.
Good luck with whatever decision you make.
The Adams Team at
Rothwell Gornt Companies
If the last sale is at $178,000 and that is the highest comparable in your neighborhood then the bank can want $ 190,000 but will they get it? They might. $190,000 if the property will bring that price is still $95,000 underwater. I guess it depends on your financial situation and what your hardship for the short sale is in the first place. Supply and demand is driving the run up right now. No one knows how long and that will continue and what market conditions will come into play to send the market in a different direction. I would sit down with your agent and discuss what would be best for you .