A $270,000 house for $200,000?!

Are you a first time buyer with time to wait for a house? Take advantage of the situation where a seller MUST sell and needs to sell for less than they paid! If you have a good credit score (over 680) and 3.5% to put down, (you can receive this money as a gift from a third party) you can buy a short sale. I have two first time buyers now who are getting great deals (under 130,000 each) on condos which sold for over $170,000 three to four years ago. We have another buyer who is geting a $270,000 house for $200,000! These are NOT foreclosures. They are in GREAT condition. It may take three months to get approval from the lenders and close, but the only way for the values to go are UP! If you have time and credit, take advantage. PLUS....if you haven't owned a house for three years you can get $8000 in a tax credit. (See my other posting) What are you waiting for????????