They Listed at $600,000 and Sold for $400,000 -- What Happened?

"The market was hot and we were optimistic." That was the climate when Dave, who asked that we not use his real name, and his wife put their house on the market for $600,000. The house, located in a Washington, D.C. suburb, received no offers. More than a year passed, during which time they painfully pecked away at the price, dropping the listing $10,000 here, 20 grand there. It finally sold for less than $400,000.