Well THAT cost a chunk of change

19 Indian Head Road, Riverside, has sold for $3.8 million. Originally priced at $5.2 million (hahahahaha), it eventually dropped to $4.250 last January. My clients made an opening bid of just below this $3.8 sale price but the owners, convinced that they'd already lost $1 million of imaginary money, refused to even counter. My people went on to buy something else, but they could have reached an agreement with these owners at, say, somewhere around $4.

Just because an agent has blown smoke up your ass about your home's value, don't consider reductions from that price to be lost money: it never existed.