The long and the short of the situation is I like this house and want it for myself. All the COMPS I have found are above the asking price of 165K . Most of them are in the 199+ range. I guess my thing is I am looking for a little moral support, of what to do, try to buy it at a lower price or go with my heart and buy at their asking price? Won't last long on the market and has just been listed.
If the property has been listed and advertised as needing mortgagee shortsale approval, the asking price is immaterial since the foreclosing lender will eventually determine (right or wrong) the subject's fair market value for the purposes of a short sale transaction.
If the property is simply listed for sale with no indicated contngencies.... and you want the home.... follow your heart, but listen to your head. Make an offer... but don't insult the seller. Be prepared to pay full price.
I think the asking price is also the BPO. Thank you for your impute.