Kaye Thomas

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Many lenders require that you use them to finance the property in an attempt to mitigate their losses on the property. On the other hand I've also worked with lenders who want nothing to do with the property and refuse to make a new loan to a buyer.

I agree with Lenore that our view of senior living is not consistent with how many seniors view themselves. My Mom is almost 87 and certainly not ready to sit in a rocker with nothing to do. I find it absurd that the 55+ retirement communities all seem to think that people over 55 want to downsize from a 4000 square foot home to an 800 sq ft apartment style condo. Consultants, builders and others involved in the retirement industry need to wake up and look at seniors as they are not as they picture them to be.

REO's and short sales do affect the market and are definitely comps. You can't dismiss them out of hand. However I agree with Lenn that more weight should be given to property condition.