There has been a «
dramatic shift» in banks» willingness sell a property for less than the mortgage balance to avoid foreclosing... short sales, typically change hands at a
discount of about 20 percent to homes not in financial distress, compared with a 40 percent
price cut for bank - owned homes, according to RealtyTrac Inc..
The OPMI market seems efficient enough most of the time that large
discounts from NAV indicate an absence of catalysts that could result in
dramatic near - term
price appreciation for a common stock, e.g., a contest for control.