Over 200 days on the market, a 20% price reduction, what happens next?

According to MLS records:



La Canada 217 days on the market and counting
Originally listed in June of ’07 for $1,132,500
After 4 price reductions now asking $898,000
Representing an approximately 20% reduction, this is one of the largest I have seen

I hope for all of their sakes they sell it soon 

 

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