Property listed online (Trulia, Zillow, etc..) and is well below market value and appears to be depressed. ~ I'm thinking this is a shortsale2.

I've looked in Southern Maine and regionally and yes our prices are depressed comparatively but it still might not be a "deal."

The outside is cute but with everything dead right now, it looks a little depressing.

not sure if that area's economy has improved but I was looking at stuff pre GFC there and it was pretty depressed. although Its one of my favorite airports to fly into.. especially landing from the west and coming in over the ocean and Bay its a really cool approach and the 100.00 hamburger joint on the field was good. although i think it may have closed.To me its one of those markets you have to be super careful in.  

it seems like the area is a little more depressed or rather lower income. 

I drive through it on my way to Rocky Point and it seems pretty depressed.   

There is some percalating activity now (mainly a new $2B national geospacial agency development that is being built over all of those City owned lots) but things are still extremely depressed.

Of course, prices are high, rents are low, and almost all owned by same seller (whom owns them outright and seems to keep rents below market... probably depressing the market a bit). 

I'm heart broken right now cause sellers just decided to cancel the house right before the closing, our closing supposed to be on September 8th and I'm really sad depressed right now, agreement were already signed by both buyers and sellers the inspection were already done even the bank said okay to buying the house. when we asked the sellers why they canceled the deal they said because they has to pay IRS 40k and Government blocked the deal and they can't sell itis there anything I can do cause we wasted 3 months of time and $200 for inspection and we'v also did the insurance for the house.

For instance in Washington state they seem to have really chosen dumpy depressed areas which will be a challenge ti take advantage of; while here in neighboring Oregon they have designated some very mixed areas that seem to provide some real juicy opportunities for tax advantages.