Many of the home your looking at are not available for sale yet. There's a long process with foreclosures. You need to hire a real estate agent to work for you. You need someone who is experienced with foreclosures. Please contact me and I can talk with you and explain how it works.
There are many others that are available in the 92103 zip code between 200-350K currently available in the MLS. I'd be happy to email the report to you if you'd like to browse through those listings. Otherwise you're more than welcome to set up your own reports on my site as well where you can search for more detailed information if you prefer. If you find one that you like, we can go take a look!
John E. Price III
Realtor, Prudential Dunn
Web Site: http://www.my92103.com
Sorry to be the bearer of bad news. The amount listed is the amount they are behind on their payments, not the sales price. They owe $265,000 on the first mortgage. You're not the first to be duped by the price. If it seems too good to be true ... We get this question a lot on this forum. Good luck.
Diane Conaway, RE/MAX United, (760) 749-2888