Can anyone tell me what is up with this?

[Benjamin Timmins]

The house is appraised at 1.5 mill. Its listed at 199,000. It's not a forclosure nor auction from everything Ive been able to find out. Anyone seen anything like this? (Taxes are over 14k).

http://www.trulia.com/property/3011344661-211-Summer-Rest-Rd-Wilmington-NC-28405#photo-2

[J Scott]

That's the tax assessment, not an appraised value.  They are very different things.

It's possible the assessment is incorrectly listed on the site.  It's possible the assessment was a mistake by the county.  It's possible that values have dropped considerably in the recent past for some reason or another.

There's no way to know without doing more investigation.  But, based on other data on the page, there's no reason to believe the house is worth any more than what it's listed for.