This property is not listed for sale, it's just a pre foreclosure, and it doesn't mean that it will get listed. Realty trac, which was feeding the data to trulia, posts properties which have a notice of default recorded, but again that doesn't mean it will get listed or get foreclosed. They try to get you to sign up for their service, which will give you information on properties that have a notice of default or notice of trustee sale. Again those properties might not ever get listed for sale, or become foreclosures.
Also, the $450,000 loan amount is not what the price would be, and might not be the only loan on then property. If you are interested in foreclosures or short sales, give me a call. I can access the same information and help educate you about the market.