Here’s a snapshot of reality – though somewhat extreme, even by today’s standards.

The first clip shows the difference between sales of a single-story, and a two-story house on the same street, that closed a month apart.

The second shows a new short-sale listing that has an extra kicker.  The two mortgages exceed $1.1 million, and will be an agonizing grind to complete.  When/if the short-sale is approved (which might be a stretch at the low asking price), the buyer will be asked to sign a form stating that they are not aware of any side agreements:

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