Purchasing a Short-Sale

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Hello all,

I am a newbie to this forum but have been playing around with real estate for a while.
My husband and I currently own 3 homes. 1 that we are living in and 2 that are rentals. We would like to rent out the home we are currently in and get something larger.

Ideally we would like to get a short-sale since we don't have to move anytime soon. We are looking to buy in the Kenmore/Bothell/Lake Forrest Park area but we aren't sure if this is the best time to buy. I've seen the Case-Schiller data and while interesting there are too many factors outside of Seattle that don't apply to the north-east side to make a good comparison.

So what are your thoughts? Is now a good time to pick up a short-sale or should we wait?

Thanks!