It is unlikely that you will be able to buy this house for the price posted on Trulia. That is the amount of a default and has no relationship to the value of the property. The house may be offered for sale at a later date but it will most likely be listed with a Realtor and priced at a price that reflects the market price for the area.
If you are serious about buying a house, you need to align yourself with a full-time, experienced local Realtor who can help you to find the house that meets your needs. Your Realtor can help you to learn about the current market conditions, realistic house prices, loan qualifications, negotiating strategy, escrow management, inspections and everything else that goes into the purchase of a home.
RealtyTrac is not a "distressed property MLS", they are simply using Trulia to take public record notices and syndicate the information to the web. Very few RealtyTrac listings are actually for sale: http://docs.Steven-Anthony.com/RealtyTrac30.pdf
Most distressed property is sold via RealtorÂ® websites!
MLS Data Accuracy â€“ Where to search if youâ€™re â€œwithout RealtorÂ®â€
You can get REAL 100% distressed property listings from a RealtorÂ® for free; however, you would be making a mistake if you did not also look at non-distressed property as well.
I always suggest a custom automated MLS search agent be set-up to make sure you are seeing property that is actually for sale. Interested?