Santa Fe price reduction

A Santa Fe that was placed on the market 68 days ago at $365k just reduced the asking price to $360k...This home was on the market as far back as April of 2008 asking $427k but was subsequently rented for a year in August 2008.

The home is not being marketed as a short sale...the sellers are the original owners who purchased the home in December 2000 for $219k.