Short Sale Listings Are Increasing in Fresno MLS!

I am noticing many "short sales" in our Fresno MLS. My advice to active buyers right now is to avoid getting involved with short sales if at all possible. Short sales are situations where the owner is typically behind in his mortgage and owes more on the loan than what the value or asking price is of the property. Even if the owner accepts your offer, you may not get the property, because the mortgage company for the seller has to approve the "short", or approve how much money they will lose by selling to you. Most of the time, it's a huge waste of time for buyers and agents alike because the lender drags their feet and eventually denies the short sale or tries to negotiate different terms than originally accepted by the owner. With so many homes on the market, why get involved in a short sale escrow?