As Christine pointed out, there have been other inquiries via Trulia about this home. Checking out the website listed in the property description; this home appears to be in the Dumfries area, which is far south of Arlington towards Fredericksburg in Prince William County.
If you are interested in going that far south, your money will go a lot further than up here in Arlington -- but your commute will be noticeably longer as well. The "price vs. location" quandry is what many residents of our area end up facing.
If I can help you with something inside the Beltway in Va. or D.C., please don't hesitate to let me know.
I wish you all the best for 2010!
Another savvy house hunter on Trulia noticed this listing a few days ago, and asked about it. I (and other realtors) couldn't find any such property on the Multiple Listing Service. Honestly, sometimes things that seem to be too good to be true are just that. However, there are lots of foreclosures for sale in the area that might be similar.
You are right to try to be quick about securing a property like this one. One thing any agent can do for you is to arrange for you to receive automatic email alerts the moment a property like this one hits the market, so that you can react quickly. Such a search is set up to meet your personal search criteria, so that you don't have to sift through all the listings out there on public domain sites like this one.