[chachee52]

Having just bought a house for dirt cheap a year and a half ago, I will give my two cents.
If the bank owns it than they are going to price it at a point where they are going to sell it without loosing money if they can help it. my fiance also works at a bank and knows that the banks don't budge too much. I am definitely in agreement with Resipsa and Bigcat about knowing what the other houses in the area are selling for. Appraisal from what I saw when I was looking is just a minor thing to look at. It's not a tell all of what it's worth in the market.