Many people mistakenly think that when a property goes to auction (trustee sale), that it automatically sells. In fact the opposite is true. Today the vast majority of the properties do not get purchased and then they become lender owned, (REO). This event IS recorded by the county because the property is now essentially owned by the lender. As sdr pointed out, this was the case for this property. This is the case for pretty much all the properties that make it to foreclosure these days.
Furthermore sdr is correct in saying the lender will put it back on the market for more then what was the loan balance. We will see if it sells. Most likely it will.
