If its a foreclosure you are inquiring about, it may not actually be on the market. Trulia lists those homes as a value added feature to its website visitors.
When a homeowner gets a notice of impending foreclosure action (lis pendens) , it is a matter of public record. Trulia and other sites gather that information and post it on their sites in addition to homes for sale through brokers. The dollar value you see associated with the property is what the bank is owed. It does not mean that there are no other liens against the property, that is just what the foreclosing bank is owed.
In many cases the homeowner works out a repayment arrangement with the bank, and if they can't do that, it will eventually go to sheriffs sale.
If you have questions about a specific property here on Trulia, get in touch with me via email or cell and I'll try to get you as much information as I can.
Barbara L Smith, Broker Associate
Licensed NJ & PA