This property is not for sale, nor is it being acutioned. Itâ€™s in the first step of foreclosure â€˜Notice of Defaultâ€™ â€“ see the quick explanation below from RealtyTrac.
The listing came from RealtyTrac, a foreclosure reporting service which Trulia subscribes to and I think Trulia tries try to explain the situation since it has caused a lot of confusion and false hope / expectation from unsuspecting customers like yourself and also cause homeowners and Realtors alike a lot of headache because the buyers are out there thinking they might be able to get a house at the really unrealistic price.
However, this might be a more realistic price than others, because although RealtyTrac said itâ€™s a single family residence, the Tax Record identified it as a residential lot, sold to current owner in 4/07 for $170,000. Maybe a house has been built since, maybe not.
Check on the note from Realtytrac about the Notice of Default status - "This property is a Notice of Default. This is the initial document filed by an attorney or trustee on behalf of the foreclosing lender that starts the foreclosure process. This 0 square foot property has 0 bedroom(s) and 0 bath(s). The estimated loan balance is $102000"
If you need help with anything else or more detailed explanation; please do not hesitate to call or email me.
Frank Howard Allen Realtors
Cell (415) 717-0293