Slow and painful

Back in the old days of medicine, doctors customarily "bled" patients who were ill - that is, they purposely made them bleed to rid them of "bad blood," which was believed to be causing the patients' maladies. Not surprisingly, this had a dire effect on many who were already battling illness. It has even been speculated that George Washington may have died because of excess bleeding.

(Side note: Here is an interesting Boston Globe story that talks about the practice of bleeding and reveals that some of the bloodletting may actually have helped some patients)

This is one of the slowest and most painful bleeders we've seen...

16 Bayley Street, Mission Viejo (Ladera Ranch) Calif., 92694
Size: 2 beds, 2.5 baths, 1,600 sq ft (built in 2003)
MLS: P520466 (428 freaking days on Redfin!)
Asking price: $460,000
Asking price/sq ft: $288
Purchase price: $450,000
Purchase date: 1/20/2005
ZipRealty price tracker: Price Reduced: 07/05/06 -- $540,000 to $530,000
Price Reduced: 07/24/06 -- $530,000 to $525,000
Price Increased: 08/02/06 -- $525,000 to $535,000
Price Reduced: 08/04/06 -- $535,000 to $530,000
Price Reduced: 08/30/06 -- $530,000 to $525,000
Price Reduced: 09/21/06 -- $525,000 to $515,000
Price Reduced: 10/18/06 -- $515,000 to $513,000
Price Reduced: 10/30/06 -- $513,000 to $510,000
Price Reduced: 12/01/06 -- $510,000 to $508,000
Price Reduced: 01/31/07 -- $508,000 to $505,000
Price Reduced: 03/06/07 -- $505,000 to $499,900
Price Reduced: 03/21/07 -- $499,900 to $495,000
Price Reduced: 05/31/07 -- $495,000 to $490,000
Price Reduced: 06/21/07 -- $490,000 to $485,000
Price Reduced: 08/18/07 -- $485,000 to $460,000
Type: Condominium
From listing: Feels & looks like single family home! Turnkey davenport 2br/2.5bath townhome. Great floorplan! Highly upgraded w/tile floors, granite countertops, designer paint & more! Huge private master suite w/retreat & walk-in closet! Large 2nd bedroom on 3rd floor w/private bathroom. Cozy laundry room conveniently located on 2nd floor--washer & drier included! Extra large 2-car garage attached w/direct entry. Walking distance to schools, pools, water park, skate park and more!

Not feeling a real sense of urgency to get this property sold considering it's been on the market for a year and two months. The sellers have also gone price reduction crazy - a total of 14 in all, plus one price increase. All told, we're $80,000 off the original listing price - that's less than $6,000 a month. Assuming a sale at this price and 6 percent in selling costs, the loss would be $17,600.

Will some intrepid buyer finally come along and stop the bleeding?