The problem with short sale and foreclosure homes is that the listing agent guesses a price that will attract many Buyers, attracts many Buyers into a bidding war, and the house sells for $40,000+ over the price in the ad. OR, the Buyer offers the full price in the ad, and the bank will not accept it, asking for $50,000 more, and when that gets put down, going up again. Feels like a bait and switch 'don't it?' Buyers are getting a bit fed up with this, and when the mortgage rates go up, the ones who felt shut out will be in demand again. Will they have a "short" memory?
The other side of short sales and foreclosures are the terrible "contractor special" homes. They are much worse than the "TLC fixer uppers" as stated in the ads. People who are foreclosed on, predictably, get terribly angry and gut the house. I've seen, in various, glorious combinations - NO toilets, tubs, sinks, kitchens, doors, outer sliding glass doors, floor covering, windows, and one kicker that had the walls ripped out to the pipes. For some reason one little sink vanity was still there in that one. Guess they had to wash their hands.
The banks waited a bit long on many, moldy houses, and the prices are still high. The worst ones will be on the market quite a while.
Your house would, literally, be a breath of fresh air after that. Put your ad in as many places as you can. I would definitely look at FSBO's and they might be more honest in their dealings, reducing their initial price instead of increasing it. A FSBO website?... more