BEST ANSWER
D,
The information you provided below helped complete the picture. RealtyTrac gets its information from Notice of Default (NOD) and Notice of Trustee Sale (NTS) in the public records. The homes are not necessarily "on the market", and the amount shown as the sales price is really the defaulted amount on an NOD and the expected minimum bid on an NTS. This particular property is scheduled for Trustee Sale on 10/27/08.
This property WAS listed up until 9/22/08 when the listing was cancelled. It is a condo in the "heart of Virginia Country Club" according to the listing description. It had been on the market for a total of 465 days, most recently as a short sale priced at $550,000. In just a couple of days, it appears that this property will go back to the bank unless someone buys it at the auction on the court house steps for the outstanding loan balance, which now includes all the costs accumulated during the foreclosure. If you are interested in the property, I would be happy to keep an eye out for it to return to the market as an REO. If you are looking for similar properties, I can also help. I live, love and labor in Long Beach and would be honored to help you find your perfect home here. Please contact me directly, through my profile or by phone. Dare to Dream.
Shel-lee Davis
Real Estate Consultant
RE/MAX Palos Verdes Realty
Fri Oct 24 2008, 03:49