It is almost certainly a Realty Trac listing, the purpose of which is to get you to subscribe to their service ($49.50) to get information any Realtor can get you for free. My fellow Windermere agent Carl Medford has a thorough explanation at
http://www.trulia.com/blog/carl_medford/2008/12/when_is_the_…

Hi, must probably you are looking at a Realtry Trac "listing" advertising. Is it?

Hi Alembong,
It's possibly a foreclosure and the reflected price is the amount that the trustor (distressed homeowner) is behind on the mortgage.

It happens.

Best Regards,

Jes Sierra, B.Sc.
Realtor®
Chino Hills, Ca

Dear Alembong,

Good question....this is certainly not the first time this has happened and I am sure it is far from the last. The MLS has strict guidlines about being accurate. Trulia unfortunately does not have the same guidlines in place.