Here is a link to a blog post that will more fully explain how RealtyTrac notices work. They are trying to get you to subscribe to their services for a fee. Once a notice of default has been served, it can be up to year before the property comes on the market as an REO (foreclosed home).
Here is the link:
Let me know if you'd like any additional information.
This property is in pre-foreclosure - it is not currently on the market. This is not the real price - it is the price of one of the loans. When it goes on the marlet, it will be at market price.
Let me know if you'd like additional information.