Another is showing as active, but contingent (buyer may need to sell own property first before he can buy this one) and that is listed at $309K
But NOT at $270,886.
I know that the price you see in the link you provided is less than either of these list prices, but that may be what was still owed on the property when the bank forecloses. The bank will then prepare it for sale and engage a realtor to list it on the MLS.
If you are planning to buy property and will need to get a loan to do so, the first step is to get yourself preapproved for a loan if you haven't done so. This way, you will know what kind of loan and how much you can afford to buy. Get a realtor to help you find properties that ARE actively listed for sale at real prices. People become so hopeful when the see prices that are too good to be true.....and then only to have their hopes dashed when they find out these prices are NOT the list price.
Let me know how I may help.