You keep using that word -- I do not think it means what you think it means.

A recent commenter tossed out the priceless Princess Bride quote that is the subject of today's post. I couldn't resist recycling it here for the word "drastic".

The listing description:

Drastic reduction! Spectacular chic entertainer's pad with wonderful view amidst a woodsy private setting.... blah blah blah

And here's the details:

3660 BUENA PARK DRIVE, Studio City, CA 91604
(MLS #: F1760298)

Bedrooms: 2
Full Baths: 2
Partial Baths: 0
Square Feet: 1,185
Lot Size: 5,510 Sq. Ft.
Year Built: 1941
Listing Date: 03/27/08

Price Reduced: 04/17/08 -- $809,950 to $789,000 (2.6% down)

But it's not just the 2.6% (a.k.a. "drastic") reduction that set me off. It's also the outrageous price per square foot (even after the reduction).

Square footage stats:

Based on Original List Price: $684
Based on REDUCED List Price: $666
Based on Zestimate™: $685
Sold Homes: $420

This house is in a nice little neighborhood. But I can't imagine anybody shelling out around $800k for an 1185 sq. ft. two bedroom house on a small lot. In. The. Valley. I mean, come on. This house sold for $381k six years ago. Here's the Zillow chart: