If you notice 1863 W Kavanagh Ave, Tracy, CA 95376, it is also a Bank Owned property. The transaction is listed as "Sold on 02/17/2009 for $164,625", while the previous sale was on 05/25/2007 for $455,000. I am just a little bit confused as to why this inconsistency in the prices recorded for these 2 properties. Are you saying that there was a 'bid' for Kavanagh and the bank then 'outbid' that bid with its price of 164K, which got recorded as the 'sale amount', while there was no bid on Schofield and thus the note amount got recorded as the 'Sale Amount'?
There are deals to be had out there in the trustee Sale auctions. however, there are some very big risk factors to consider. This property should be back on the market within a couple to a few months.