Damn, I am good!

So, y'all might remember a little house I wrote about back in June. Here's the relevant part of the prior post (for those of you too damn lazy to click the link that I conveniently provided for you):

4343 AGNES AVENUE, Studio City, CA 91604

MLS #: F1761579
Beds: 2
Baths: 2
Sq.Ft. 1,499
Lot: 6700
List Date: 04/04/08
List Price: $799k
Per sq. ft.: $533

Seriously. For that? Not even at the peak of the market, Honey. So they reduced. Twice. Behold:

Price Reduced: 05/29/08 -- $799,900 to $699,000
Price Reduced: 06/12/08 -- $699,000 to $649,000

And now it's just a tiny bit shy of what it would have sold for at market peak ($675k). But we are down like 20% off peak, right? So that house is worth ... uh ... $540k? That seems right. There's no central air, original windows and doors. No photo of the kitchen or bath (and we all know what that means). Oh yeah... did I mention the apartment buildings on three sides? Yeah.

Well guess what? They reduced again. Uh-huh.

Price Reduced: 06/24/08 -- $649,000 to $619,000
Price Reduced: 08/01/08 -- $619,000 to $589,000

But I gotta say, I think they'll have to come down to about $500k at this point. The peak is pretty much behind us and this house is just not a hot property. Time will tell.