Itâ€™s an advertisement for RealtyTrac.
What you are seeing on Trulia.com is the notice of default for one of the mortgages provided by RealtyTrac. RealtyTrac notices can be very deceptive because they give the loan amounts, not the purchase price. When this particular property does hit the market, it will be at market price for the neighborhood.
Check the following link for more information:
Let me know if you would like additional information.
RealtyTrac is not a listing service, they just take public record and tease you with it so you will pay them a monthly fee to get more information. Most foreclosures are listed on the Realtor MLS sites - at market value, not the low price shown by RealtyTrac, which is nothing more than the amount(s) in default.
If you are looking for a foreclosure (termed an REO once the bank takes ownership) I would be happy to set you up with an automated MLS search agent for properties that meet your search criteria. Results would be automatically emailed to you. Please let me know if you are interested.