John is right. Normally, when something is too good to be true, it's usually too good to be true. Trulia listed a lot of pre-foreclosed properties, where the 'listing price' is really as John said, estimate of how much the owner owns. There could be other liens against this property, etc. and if the seller / bank really put it on market, it will most likely not go that low.
Some are actually on market / MLS listed for much more than what's shown on that, etc.
Do contact a Realtor who is familiar with the area, property and pre-foreclosure process to get detailed info on the property and advice on how to proceed from there!