Short Sales, bank raising price
I have been looking at real estate in my area for over a year. I have noticed homes, which were listed for sale, raising prices by $10,000-$25,000. When reading the property facts, I notice the listing states the property is a short sale and 'bank wants full amount.' It then shows the new, higher price.
These homes (some I had saved as favorites) were on the market for a year and hadn't sold. They were not listed as short sales.
Why would the bank think they could sell the property for a higher amount if they hadn't sold at the lower prices?
I had saved these properties hoping the prices would drop, instead they are now short sales at higher prices.
I thought this was strange.