There's no link to the property you're interested in!, but it may or may not be for sale. On consumer real estate sites like Trulia, a property will look like a "listing" even though it's not listed for sale. If the listing says "For Sale" at the top of the page, it's listed for sale. If it just says "Foreclosure," it's reflecting activity that affects the property. The property could have had a Notice of Default filed against it, which means it's in the very beginning stages of foreclosure. The owner may pay the default amount, he can try to short sell his property, or the property could end up being sold at auction for cash. If it does make it to auction and it's priced too high for the investors, the bank will list it for sale at market value. If what you're seeing is a "Foreclosure,", often the "list" price isn't a sale price at all, it's the amount in default. If and when the home is for sale and ready for offers, the price will more reflect market values. If it's priced lower than market values, expect competition when you submit an offer.
Let me know it you'd like help finding homes in your price range, foreclosures or otherwise.
Cory La Scala, REALTOR
Lic # 01443391