I will answer your question with a question. Are you seeing these homes on RealtyTrac as a foreclosure? If that is the case, what you are seeing is the loan amount and/or the delinquency amount on that loan. These properties may not even be for sale. The owner has defaulted on his loan, however, he has over 100 days to try and fix the problem or sell the home, before the bank forecloses.
These properties are in the pre-foreclosure phase and may not even be listed for sale. With many years experience in this area of the market, I would be happy to help you try and land one of these homes before it goes to foreclosure. Let me know if you would like to look into this further, and Dare to Dream.
Real Estate Consultant
RE/MAX Palos Verdes Realty