Hmmmm...what did they do prior to this? A 47-day MLS is highly unlikely to sell in today's market as a whole (really turns into a crap shoot IMO: can they sell? sure. But it's not like before), especially if the home appraisal came in on the lower end of value (I see $663 on my service; still @ a 615 asking price that's not even a 10% reduction).

Considering it's into desperation mode, now if the homeowners took a bit more then what they owed on their mortgage (I won't post it, but if it's anywhere near what I'm seeing), I would reckon it has a great shot to sell, especially if the home is in great shape...but the auction would have to be postponed now to allow time to close if a contract can get signed ASAP. Minimize your loss: walk away with little & start over, or walk away with a foreclosure.

IMHO, I wouldn't be surprised if this doesn't even sell @ auction and gets bought back by the lender...

Not busting, just see too many cases like this that when dug a little deeper, well, it makes for a very tough challenge to complete the deal, if not nearly impossible...and ultimately just needs to be let go and time to move on to the next (and I hate losing deals like anyone else, but sometimes the timing just isn't there)
 

Hi Matty, I won't speculate on the thoughts of the seller on this page but I can tell you that more time to market the property would've been very helpful for me. And I agree, the property will probably be bought back by the bank at the auction. I am hoping for a good turnout at my open house on Sunday. And by the way, i would normally never comment publicly on a listing that I am currently working on but I can only think that talking about the property (in this instance) will help to garner more interest for the property.
 

I stand corrected...663 was '07; 643 is '08 by the town...
 

Matty, never use assessd Value to value a property. Assessesed value and market value are usually very different.