shortsale negotiations?

[Alfonso Velazquez]

hey guys,

   I found a property in a great neighborhood which should see some up swing in the next year and a half, due to some gentrification going on. 

   The house is a shortsale going for 299,900 and looks to need about 20k of work judging from the photos I've seen. However I'll find out more about repairs tonight.

   Houses in that area price range broadly from 300k to 750k on the same block, so I'm thinking arv would be roughly 315k judging by similar homes. Now going under a 65% rule I 204,750 - 25k estimate - 8% closing and holding cost. Offer price price would be 153,928. Has any body work with a situation like this before? Does it seem plausible? 

Thanks