Like 93 Indian Head Road's drop of $1.245 today, 21 Old Club House Road's cut of $400,000 to $4.295 is pretty smart. Neither may prove to be sufficient: the market will determine that, but at least these aren't the token reductions that so many sellers engage in, all whimper, all signifying nothing. Buyers already assume there's a discount available, so a cut of, say, $50,000 isn't going to sway them, if they weren't willing to proffer an offer at your asking price.
This is a pretty nice house, by the way, and Shorelands is a great neighborhood. "Old Clubhouse Road" is so named, I believe, because it was the site of the old club house built by local golfers after they were evicted from Tod's Point: he came home from NYC one afternoon and asked the locals who he had graciously permitted to play on his private golf course to make way for him and his guest. They sassed him, he booted them.
I may have that wrong, but that's what I think I read.