Short sales, they come at a good price but I have to wonder, are they are worth all the hassle and wait to get them? For the consumer who has the time and is willing to be very patience you can get a home which could be in very nice condition for a great price.
REO’s or Foreclosed porperties, Buying a bank owned property is much the same as buying a property from a home owner. You will get a better price but will have to pretty much buy it as is. The banks will not fix or repair things as a home owner will, but you can get the home at a price that will allow you to do the repairs yourself.