Stan,
“Isn’t the trustee sales price typically the loan balance?”
Yes,only the balance for the foreclosing entity, not seconds which are erradicated by the foreclosure and unless the lender lets and outside bidder take it for less.

“Rustico, are there publicly available sources that can help me figure out what’s going on in instances like this?”

Yes there are. I am not sure how fast the info is available in a convenient format. I have the MLS so even though I have seen people post good links here I haven’t needed to remember them. Temeculaguy and probably some others have a good handle on research via web based public data banks.
A standing link on Rich’s home page for good sites would be nice.