Then what you are seeing is NOT an actual listing â€¦ it is an advertisement for RealtyTrac.
RealtyTrac is a provider of data for distressed homes. This data is used by investors and Realtors to track distressed homes. When you see the RealtyTrac logo, you are not looking at a home that is actually available for you to buy: what you are seeing at is either (1) the notice of default for one of the mortgages on the property in question, (2) a notice of an impending trustee sale or (3) a notice of a completed trustee sale.
RealtyTrac notices can be very deceptive because they usually give loan amounts, not the purchase price or fair market value. When and if this particular property hits the market, it will be at market price for the neighborhood.
Bottom line: RealtyTrac is trying to get you to sign up for their service.
The following links may be helpful:
When Is The Price Not The Price?
Itâ€™s Too Good To Be True: REALLY â€“ Top 4 Buyer Myths
If you want to know when these or similar properties will actually hit the market, have a Realtor set you up with an auto-feed that will alert you the moment they become active on the MLS.
It would be good business, if the business was selling homes. Realtytrac sells subscriptions to their site and most of the homes you see here advertised by them will either never come on the market or will be priced substantially different from what they suggest when/if they do.