Looks like the owners live in Texas and GreenTree Servicing filed the preliminary foreclosure paperwork with the owners last December.
Eventually if the Sellers do nothing it will get foreclosed and then go to auction at the courthouse online auction. If the lender doesn't allow it to sell below the $270k + to a CASH buyer at the courthouse auciton then it will become a bank owned listing. Also it's possible if the lender forecloses and take ownership they may sell it off to a multi-million dollar investor packaged with other properties.
If you happen to know the owners or if they are willing to attempt a pre-foreclosure, short sale, I can list it and then you could buy it for "market" value. You cannot buy it without the current owner's consent.
This property is in the foreclosure process. The property appears to have been purchased as an investment by the current owner. In the event foreclosure is successful, this Fannie Mar property may be available through HomePath.com. Based on recent sales in the area, the market value of this home, depending upon condition, could range from $177-204K.