Realtytrac provides information on properties that have received notices of default/trustee sale. However NOT all of these homes are put up for sale since some of the property owners find a way to resolve their delinquencies.
And yes...once the bank forecloses on a property, they typically engage a realtor to list it on the MLS when you and your agent can find out more information like how much it foreclosed for, what it is listed at, what concessions if any the foreclosing bank i offererng.
Just to satisfy your (and my) curiosity, I looked at what's actively offered for sale in Clayton as of this writing
2 are bank-owned
4 are short sale
What sold since January 1
16 were bank-owned
26 were short sale
What are pending as of this writing
3 are bank-owned
33 are short sales
Hope this helps
Hope this makes sense, but the realtytrac information doesn't offer a whole lot of meaningful information for an active buyer as you'll need the services of a good realtor to tell you if the home is foreclosing, short selling or possible working on a resolution w/ their bank.
(P.S. I live in Clayton myself!)