I wrote a few months back about people who are trying to sell a house that fall into a pattern of “chasing a falling market.” A sale occurred earlier this year which is a perfect example.

The house came on the market in late 2009. In the following 16 months, the property reduced its asking price 6 times. The 7th time it was sold at auction. The property sold for 37.5% lower than the asking price in late 2009.

1. The 1st price decrease came shortly after it was

...