Foreclosure vaules

Also, many people are shopping for foreclosures with the belief they will get a "really" good deal.  Problem is, these homes have been empty and often stripped of everything. They are often a money bit with one thing after another to fix.  Buying a home that has sat empty can be a huge headache.  The homes listed with a Realtor through a owner who doesn't HAVE to sell are most often priced in line with the foreclosures and short sales because of the very reason your question indicates. Market Value is Market Value, but the banks don't care what the condition is in.  When you buy a home that has an owner living in it, you won't go into it not knowing what is wrong with the house. The owner is asked to disclose any issues in a legal property disclosure sheet.  As well many sellers today are willing to negotiate where as the banks don't seem to be negotiating much at all anymore.  The Short Sales and Foreclosures being the best deals out there just isn't the case anymore.  When shopping for a home, look at all listings to find the best deals!

Unfortunately foreclosure sales are used in computing market value.  The foreclosed property is most always in need of some type of repair.  The properties generally sit vacant for some time before they are foreclosed on and listed for sale.  The banks do not want to spend money on repairs, just cut their losses.  Are you a buyer looking for property?