Here is what I do know.
There are 12 active listings. 1 sold last year. The lowest price listing is for $50,000 same size and location.
The best advice I can give you is if you are interested in looking at any of these places and others is to come and look. If you like one then your agent will be able to help you determine a sound offer price. This is done by looking at all the homes in that particular area are going for.
So bottom line is that the bank may or may not take that price. An agent that has handled short sales would be able to help you in this process. It is not as hard as it used to be.
As with everyone else that has answered you I would be more than happy to help you with this and explain in more detail.
Have a great weekend!
The rule of thumb with a short sale is the bank will take about ninety percent of what ever the market value is.
If the property is 100,000 and the market value is 90,000 an acceptable priuce would be 81,000. If the price is 55, 000 and the market is 70,000 the price the bank would accept is 63,000. If you need more information give me a call I would be happy to evaluate it for you. 978-580-1810 firstname.lastname@example.org
The price is correct, but I doubt the bank would take anything close to that. It is a shame that agents try to obtain 10 offers on 1 piece of property and don't let all the other buyers know what is really going on. Get in touch with me and I can give you a 3 minute lesson on short sales.
Scott Riddle, (CSP) Certified Short Sale Professional
Sand Castle Realty Group