If you are a first time buyer I urge you to look more to standards sales, which by the way are making a come back
. Short sales often sale below market value, but they take longer to close and are sold AS IS.
The sellers are not willing to make repairs and they are not in a position to offer any credits to the buyer.
If you have cash reserves to make repairs and are very good at waiting, short sales may be the thing for you..
Best of Success to You,
Kawain Payne, Realtor