Something doesn't smell right... (in Encino)

15560 OTSEGO STREET, Encino, CA 91436
(F1703604)
I wrote about this house earlier... calling it a sinking ship. Well, interestingly, after 172 days on the market with no nibbles, they think a price increase is in order. Check it out:

Price Reduced: 04/04/07 -- $875k to $859k
Price Reduced: 04/13/07 -- $859k to $829k
Price Reduced: 04/22/07 -- $829k to $779k
Price Reduced: 06/07/07 -- $779k to $739k
Price Increased: 08/30/07 -- $739k to $805k

They updated the listing description to read: "... seller will credit buyers closing costs..." For $66k, I figure he'll be crediting more than that. It'll be interesting to see how this number pans out.

UPDATE: Well, mystery solved. Apparently they just wanted to turn the clock back and start offering the same reductions all over. Because, you know, buyers are stupid and they will never notice. Here's the new price point. Look for a reduction to $739k soon:

Price Reduced: 09/10/07 -- $805k to $779k