I took a quick look at the sales history. There is no statement in the listing on the public site of Trulia or Prudential that identifies this as a bank owned property. There are some clues that indicate it mgiht be, though. There was a title transfer in 2005 for 605K, a title transfer in November 2007 for 490K and it is now listed for 445K.
You need a local CA Realtor to check out the details and provide you accurate info.
The title transfer in Nov 2007 may have been a transfer to the bank as the finalized foreclsoure. I state may have been; I do not know.
The listing agent has it priced lower than that, at 445K.
Lenders do not have information for disclsoures because they did not live in the properties. If this is now an REO property, yes, it would be sold as is with the responsbility for alll on the shoulders of the buyer.
The price is 150K less than it was sold for in 2005. A local CA Realtor can tell you if that is a good price or not.