Keep in mind that RealtyTrac's information may not always be accurate and oftentimes can be misleading--you could be looking at a lis pendens property--notice of default--or some other kind of fee--some of those properties may not be for sale yet, and some may never be, if the default is satisfied by the owner. If you are interested in foreclosures, work with an agent--he/she will have access to reliable information--also don't overlook traditional sales as some may turn out to be a much better bargain than some of the foreclosure properties.
Hi Rachel - A Lis Pendens has been filed on this property. Meaning that the homeowner is late on mortgage payments. This is just the beginning of the process. It make take years before this particular property goes on the market. If you are looking for a property that is a great value at this time then contact a Realtor and have them show you what is available out there. If you only want this house then contact the homeowner and ask them if they want to sell.