Main thing to take away here is you should consult a realtor and they will let you know the best place to look for listings that are real and not just NODs that aren't actual live listings at all.
I've also seen mistakenly low prices on here from properties that are posted for Lease on the MLS and they show up here for sale as the price that is actually intended to be the $ amount per month.
If you need help finding out actual prices, or want to find out about homes available in your area, please feel free to contact me.
Keller Williams Realty
#1 Agent KW Westside 2007, 2008, 2009
This is actually a bait and switch approach which is illegal. Look below to see more.
Per The Federal Trade Commission
Sec. 238.1 Bait advertisement.
No advertisement containing an offer to sell a product should be published when the offer is not a bona fide effort to sell the advertised product. [Guide 1]
Sec. 238.2 Initial offer.
(a) No statement or illustration should be used in any advertisement which creates a false impression of the grade, quality, make, value, currency of model, size, color, usability, or origin of the product offered, or which may otherwise misrepresent the product in such a manner that later, on disclosure of the true facts, the purchaser may be switched from the advertised product to another.
(b) Even though the true facts are subsequently made known to the buyer, the law is violated if the first contact or interview is secured by deception.
Your best bet, Marcus, is to find a good local Realtor, preferably certified in short sales and foreclosures, who will help you find a real value in this market, and interpret the raft of data that is out there right now.
Best of luck,
At the end of the day in Real Estate there's no such thing as a free lunch. That being said, if you can find what no one else can find then there are limitless opportunities for profit. If you have any questions about any property in LA county feel free to contact me.