The short answer is "sometimes". Most people hear the phrase "short sale" and routinely think of a seller that is insolvent and needs to sell their property 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 cases the "bargain" price may in fact be in line with actual market values rather than below.
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