I find myself approached more and more these days with questions about whether I handle and how much I know about short sales and foreclosures.  People who have been priced out of the housing market in the South Bay are, quite understandably, looking for their way in.  The reality of the bargain of a short sale can often be quite different and requires some investigation and some real thought.  A short sale is basically when a seller is attempting to sell their home for less than they owe.  Ultimately this can only be done with the bank, or multiple banks or lien holders, approval.  While it's possible to get a "deal" when you see the listing price of a short sale, it's important to know that the seller, and seller's realtor, can really go out and list the home for just about any price...but that doesn't mean the bank is going to agree to sell it.  So you may write up an offer, present it to the seller, and find out 3 months later that the bank won't accept the terms.  You may find a deal, and you may find a headache....but make sure to do your research.  If you are interested in finding South Bay foreclosures and short sale listings, take a look at our website.