I tracked this home down. Sue is correct that the $5,505 is just the back payments owing. It's in Notice of Default as of early September. I checked for comps near there. There was only one with similar square feet that sold in June for $325,000. This particular home you are asking about was bought in 2006 for $387,500.
This is one of the reasons most all realtors that answer questions on this board will tell buyers to not rely on Realtytrac for pricing information. It's fine for checking a potential foreclosure - but after that you'll need to find the comps to see if it will be listed when in foreclosure in the ballpark of the price you are looking for.