Interesting that it shows up at $475K on Trulia.
Here are more details about the property: 4 bedrooms/2,5 baths, 2808 sq ft. Owner is a licensed real estate agent. And no, this is a regular sale.
There are several other 4 bedroom Orinda properties scheduled for Auction such as
170 Glorietta - scheduled for Auction May 11
9 Williams Ct - May 2
21 Keith - May 10
If you're looking at auction properties and want to take a chance by going to the county courthouse you can either go to the county records to see what's being auctioned,or subscribe to http://www.ForeclosureRadar.com
to get a schedule.
Even better...engage a realtor to help you find the properties that meet your needs in your price range --- there are certainly enough distressed properties available for sale. Notethat some regular sales are being priced very aggressively to compete with short sales/bank-owned properties for sale. You can have some piece of mind knowing a realtor is there to assist you in your property-buying process.
Let me know how I may help. Good luck!