Let me provide a little bit more info for you.
This is a Short Sale all right, but it's under contract for purchase.
There are numerous short sales being offered now that banks are actually willing to deal on and it appears from my "hands on" experience writing contracts that they are responding a little faster now.
Bank Owned homes are selling quickly and usually with multiple offers depending on the price and area.
We have really hit the ground running with record numbers in the last 2 months here for pending sales and closed sales as the inventory continues to drop.
So, I hope this information helps you at least a little bit in understanding what is happening here in the Phoenix area.
Thanks for posting here on Trulia and good luck in your house hunting!
Signature Realty Group
2008-2009 Master of Real Estate Award
GRI, ABR, E pro, MRE, CNE, AHWD