Hi, I have notice on high price REO properties that sometimes, no one , either the lender (owner) or an agent has gone to the property.
Picture(s) is 5 year old and have no idea of the condition of the property. Those are the high price properties.
Foreclosure is the time between Sheriff Sale and end of redemtion period. But the word is use wide for Real Estate Owned (REO) by lender / mortgage servicers.
The low price could be the "Buy Now" price. If it is an action, it will begin very low.