Usually, Short Sales are priced below market value to entice buyers. If seller accepts the offer, it then will go to bank for final approval or a counter offer. This sometimes can take 30 days or longer. This property may have an accepted offer and may be taking back up offers as well.
Does it say bank approved? If so, that is what the bank will approve an offer at, but of course everything is negotiable.
Also, If the buyer finds another property during the approval process with the bank, and they want to make an offer on it, they can pull out of the first contract and move forward. If this happens, the property will be put back on the market as active and they will review any back up offers if those buyers still have an interest and the procedure starts again. That may be why it has been on the market for over 70 days if it truly is active. Let me know what the MLS number is and i can tell you what is going on with it.
If you are interested in purchasing a Short Sale or any property, it is best for me to do a market analysis for competitive pricing and other research on the property.
If you are interested in purchasing property in Scottsdale and/or surrounding areas, please let me know and thank you for the opportunity.
Sonoran Premier Properties