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Off Market For Now.... Third Time Is The Charm?

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No luck the 2nd time around for this home at 2227 Benecia Ave, LA CA 90064. This property was just withdrawn off the MLS this week after a 2nd go around on the market, concluding with no sale. The home was originally listed on 7/31/07 for $1,279,000. About 60 days later it received a healthy price reduction down to $1,195,000 and spent another 60 days on the market with no sale. The property was then withdrawn off the market, 11/29/07, for the holiday period and then set its return to market on 4/23/08 with an asking price of $1,195,000. Fastforward 89 days later to present day and the home has yet to sell. This lastest listing period ended without any price reductions or changes to the property during the last term. If we take a closer look at the public records for what this owner paid for the home, we may find the reason why we didn't see any more price reductions. It looks like the owner paid $1,090,000 on 11/22/05 for the property. So after some remodeling costs done by the seller and the broker fees, the owner could be possibly breaking even if the home sold at its last asking price. Any lower and the owner would be taking a loss. Maybe the third time is the charm and we will see this property pop up again on the market.