My opinion only of course, but if it's been on the market for 2 yrs. they aren't serious about selling to begin with.
That said, we once had a realtor suggest we raise our price (of course she also suggested we do a few upgrades to justify the higher price) Her reasoning was perhaps we could tap into a buyer pool who had not seen our house yet because they had been looking at a higher price point.
Maybe when these folks raised their price they were hoping they'd snag a buyer in the $500,000 & up range. After all, those folks have more money than they know what to do with, unlike all the bargain hunters looking at properties priced under $500,000... right?
Short sale prices are a whole different deal. The most recent stats in my area are that less than 5% of homes offered as short sales are ending up as bank approved transactions. They can choose any price they want, it seems to be pretty meaningless anyway.
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