As others have said, whether foreclosures and short sales will have an impact on pricing your home will depend on how many foreclosures are for sale and the number of recently sold in your neighborhood/area. Not all distress properties are in poor condition. Banks in our area are now paying to have new carpets installed, freshly painting interiors and sometimes even installing new appliances so that the REO properties show better and bring current market prices.
I would suggest contacting 3 local real estate agents who list and sell in your neighborhood. Ask them your questions regarding foreclosures and for a CMA (comparative market analysis) of your home's current value for sales purposes. The CMAs are free and you'll get a much better idea as to what your home would bring in today's market.