It's ironic you posted this tonight. I'm currently working on two orders....both short sales......have the same guidelines as what you just described......by using their comp guidelines one is $45k over value and the other is $85k over value.....DOM averages 300 to 400 days......wonder why these aren't under contract?..........lol. It's pretty apparent what they're trying to create........cows will fly first before these will ever appraise for these bogus values. This is a great way to kill a short sale......The powers to be must think they'll net more if they foreclose...good luck. Now, I have to generate a canned comment to cover my fanny....This is going to be another late night.......I expect QC to get involved on both orders..
CandyMan: I think that you should be OK if you have proof that they are overpriced based on your market research, historical data (12 months ago, 6 months ago, up to April 30th, and after that) and your experience in your local area and knowledge of the subject's market ... maybe it's in a newer community where the builder is being sued for poor quality of construction, maybe more than 30% are in some sort of a foreclosure process, and about another 10% have been listed for sale in the past 3 months and some are still lingering on the market with only few under contract because the AM was smarter and got a better price from the client ... I don't know, but I'm sure you'll be just fine
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