Guess what â€¦ if the listing has the logo for RealtyTrac ...
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.
The property has 5 Acres; however.......
RealtyTrac is not a "distressed property MLS", they simply take public record notices and syndicate the information to the web. To the uninformed this looks like home(s) are being sold for cheap; however, the truth is that most of the time the home is not even listed for sale yet. Their primary objective is to get you to sign up for their monthly service.
Distressed property is almost always sold via RealtorÂ® MLS systems to provide the widest exposure possible. The remainder is sold directly to investors via "portfolio purchases" where multiple homes are sold at once, public auction on the County courthouse steps via a Trustee Sale, or via private auction companies.
If you are interested I can set you up with true MLS access so you receive automated MLS property notifications based on your search criteria. This will be much more useful than spending your time on "the web" trying to find â€œa dealâ€ only to find out in the end that itâ€™s a misleading RealtyTrac listing. Less than 30% of RealtyTrac listings are actually for sale: http://docs.Steven-Anthony.com/RealtyTrac30.pdf
An alternative; yet, more time consuming option is http://www.Realtor.com :
MLS Data Accuracy â€“ Where to search if youâ€™re â€œwithout RealtorÂ®â€