Short sale
Short sales are not always a great deal because of the highly inflated prices of the housing bubble. For example, if a house that normally costs $100,000 was suddenly 'valued' at $200,000, and someone got a loan for that amount, they would want to re-sell it for $200,000 or even more to make a profit. However, values dropped. So now, they may short sell (less than it is worth) the house for $175,000, and lose $25,000. But to a new buyer, that $100,000 house is probably still not worth $175,000. So see what the average is for that house over time.