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.
Dennis J. Murphy
Better Homes & Gardens Real Estate
1116 S. El Camino Real
San Mateo, CA 94402
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.