Responded to a for sale item in aclassified add. Asked the owner why he was selling it at such a low price. His answer was he was moving, a victim of foreclosure. Conversation included he had two short sale offers and brought them to the bank. They refused, they wanted all of it. He bought in the 430s. The seller hit a snag with the appraiser,(really screwed me) his words. The appraisal was in the 130s. Reason for the 130s price was the appraiser only had comps in the area that were foreclosures. Who was the bank? Yup, you guessed it. Foreclosures kick into high gear after Nov. Good luck draw your own conclusions.