These answers so far are sort of correct.
Here's the real scoop:
A property can pop on on Trulia.com & with the logo from Realty Trac, EVEN IF THE PROPERTY IS LISTED FOR SALE. But, what Trulia & Realty Trac are reporting on is that the bank / lien holder just recorded a document publicly in the county the home is located & this means 1 of 3 things.
Either the property that may already be on the market, just officially received a "Notice of Default", OR the property just got recorded for an Auction Date coming up, OR the property is Bank Owned.
Most of the time the properties either just got the Notice of Default (NOD) or now have an auction scheduled. Again some of these properties May be on the market too, but that's now what Trulia via Realty Trac is reporting on in their "Foreclosure" section.
Realty Trac uses aerial view mapping, that's why it's always an aerial shot. Realty Trac doesn't have photographers who go out & take a picture of the front of the house & this is because for every NOD or Auction date posted, the home may never come on the market, so they can't advertise it like it is For Sale.
Shoot me an email directly if you'd like to talk about this further, I don't look back on this same Trulia thread for answers posted after mine.
Emily S. Knell
Realtor Since 1996
Realty ONE Group
Short Sale Specialist - 99.8% closing success rate!