Looking for an explanation of the following...

[LadyDoveFL]

I live in a condominium association; most of our building are duplexes and our units are 1-story villas or 2-story townhouses (2- or 3-bedrooms). According to the Pinellas County Property Appraiser's office, the market values (based on 2008 sales) are around $144K. There are only a handful of units up for sale with prices raning from $135K-$145K.

We have a weekly section of the local newspaper that lists recent home sales. "Transactions are listed in ascending order of valuation. The listed addresses are the mailing addresses recorded by buyers on the deeds. Usually, those are the addresses of the property that changed hands."

Yesterday, I found one of units listed as follows (I substituted the names and address):

1313 Mocking Bird Trail, to Herman & Lily Munster by NRB Bank NA, Trustee, $50,000, 04/15/2009.

FIFTY THOUSAND?!?! I went to the Property Appraisers website and looked up the property record, which is current as of May 31, 2009.

It shows the current owners as Herman & Lily Munster, who purchased the unit 5/2001 for $107,000.

Could someone please explain to me what's going on with the $50K? The fact that the Trustee is NRB Bank (not the real name), I thought that suggests foreclosure or short sale; but the transfer is to the current owners who bought in 2001.

Thanks!

[Marshall Rosenbach Esq.]

Would need to see the paperwork. Go to the county recorder for that address and see what is on file.

[LadyDoveFL]

Thanks. I was hoping for a few scenarios that might occur in the situation that I gave, which might give me options to research in regards to my predicament (2 mortgages, underwater, unemployed)...