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.
This property is not for sale. If it was, the price would be far more than the amount shown on the link that you provided.
That link is to a posting by RealtyTrac that is really a come-on to get you to sign up for their subscription reporting service. RealtyTrac is not a real estate company. RealtyTrac does not sell houses. RealtyTrac is a reporting service. They take information from public records about foreclosures, notices of default, lis pendens and other such filings and report them to their subscribers. Information from RealtyTrac can have value for those who understand what they are getting and how to use the information but RealtyTrac postings on Trulia.com are abbreviated versions and are misunderstood by many who think the postings are showing properties that are for sale at very low prices.
For information on how to buy a bank owned property, check with a local Realtor who can explain the process and give you valuable assistance.
My office is in Castro Valley and I would be happy to meet with you and help you.
For years now...YEARS....many of us have tried to explain that not all properties one sees on this site is actually for sale. Especially those with RealtyTrac
It is so much more efficient to engage a realtor to help you find properties that are actually listed for sale instead of roaming around with no direction.