The short answer is "sometimes". Often times people hear the words "short sale" and automatically think of a seller that is in default and needing to sell their home quickly to avoid further financial problems. This is sometimes the case and can be an opportunity for a buyer to do well from another's misfortune. In contrast, a lender may consider a short sale even if the seller is current, but property values have declined. In these cases the reduced price may in fact be closer to actual market values rather than below.
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