This home is currently for sale but there is a small typo in the Trulia details. The actual list price is $1,475,000, not $475,000.
Sorry to be the bearer of bad news.
Bernard Gibbons, J. Rockcliff Realtors
DRE License # 01331583
Phone (925) 997-1585 - firstname.lastname@example.org
Here are more details about the property: 4 bedrooms/2,5 baths, 2808 sq ft. Owner is a licensed real estate agent. And no, this is a regular sale.
There are several other 4 bedroom Orinda properties scheduled for Auction such as
170 Glorietta - scheduled for Auction May 11
9 Williams Ct - May 2
21 Keith - May 10
If you're looking at auction properties and want to take a chance by going to the county courthouse you can either go to the county records to see what's being auctioned,or subscribe to http://www.ForeclosureRadar.com to get a schedule.
Even better...engage a realtor to help you find the properties that meet your needs in your price range --- there are certainly enough distressed properties available for sale. Notethat some regular sales are being priced very aggressively to compete with short sales/bank-owned properties for sale. You can have some piece of mind knowing a realtor is there to assist you in your property-buying process.
Let me know how I may help. Good luck!