In Rio Vista currently there are nine bank owned properties, all in the $200,000 range.  Three are in Trilogy; six are in Homecoming.  There are six properties on the market where the owner is trying to effect a short sale, all in the $200,000 range.  A short sale is where the owner will, once an offer is realized, ask the bank to accept less than the amount owned on the mortgage.  Three short sales are in Homecoming; three are in Trilogy.  A short sale can be a lengthy process as it is often difficult to obtain lender approval for the sale.  Banks are complicated structures and getting the proper parties to agree can take two or three months.  For those who have the patience, this can be an opportunity for a prospective owner to obtain a home for a good price and for the seller to ward off negative activity on his/her credit report.