It's a bogus posting from what I can see. There are several homes on that road that show lis pends (foreclosure action started). The only 4/3 is at 1576 DAYTONIA RD, and is listed for $1,495,000.00. The loan balance is probably correct, but it's the loan balance, not what the house is selling for. I'm going to report this to Trulia, since it's really not how the system is supposed to work.
If you are looking for a property, the real estate market in this area uses a regional database containing ALL properties listed for sale (at their true prices...). If you want to provide your specifications and an e-mail address, I would be happy to send you a link to everything that's listed for sale. No pressure on the followup.
Also, keep in mind that most REO properties are listed at market value; their prices usually reflect the market in the area, together with the condition of the home. There's a misconception that banks are so anxious to sell these homes that they're giving them away, but it's really not the case.