In this particular case, it appears this home went to auction at a trustee's sale just before Christmas. In almost all cases, the lender is the winning bidder at the auction because nobody wants to pay off the lender when the home is upside down.
I hate to say this, but the estimated sales price on RealtyTrac also is meaningless. After the lender picks up the home, the lender then decides on a sales price -- typically near market value or a bit below -- and chooses how to sell it. The lender could sell it directly, but few do that. Or the lender could package it in a bulk sale to investors. Or what is more likely, the lender will hire an REO specialist to put it on the market. All of that can take a while, anywhere from 2 weeks to six months.
Is there something about this particular home that strikes your fancy? Would you like to be notified when the home comes on the market -- if so, you can email me and I'll set you up on an automatic notification. If not, maybe you would like to consider others in that area? There are good deals right now near Lewis Park and other areas in the Pocket.