The housing market in Minnesota is picking up.  There are a lot more people it seems that are looking for a home.  Some of them are looking for a deal, and so they look at some that are bank owned that are in forclosure or are in a short sale.  A short sale is where the house is going to sell for less than is owed to the bank.  Many banks are ok with short sales because they are able to get the bad loan off their books.  Forclosure is also an expensive process.  If you are looking at a short sale property, be ready to wait for a while.  Some banks can take up to 3 months to give an answer to whether or not an offer will be accepted.  If you are looking to buy a home and looking to get a good price, consider a short sale.