The short answer is "sometimes". Often times people hear the term "short sale" and instinctively think of a seller that is in default and must sell their house fast to avoid further financial problems. This is occasionally the case and can be an opportunity for a buyer to cash in on another's misfortune. In contrast, a lender may consider a short sale even if the seller is current, but property values have fallen. In these instances the "bargain" price may in fact be consistent with current market values, not below.
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