I just closed on a 10 year old Ponderosa home, 2,875 sq. ft. on a large lot for $535,000. These homes were selling @ $800,000 prior to the market adjusting. I looked at 48 homes and all but 3 of them were short sales or bank owned. I made offers on 5 homes at the same time and received a response from one of them and it was reasonable. 3 days after the close of escrow on this property I received a response on one of the other homes I submitted an offer on. Not quite as reasonable.
It amazes me that agents that are working short sales do not get packages up front from the lender to minimize response times.
I am looking at another 6 year old property @ 2,400 sq. ft. with a pool on 1/2 acre of land that will probably sell @ $525,000.
So many good deals... so little time...