Loss Leader

What's a loss leader? It's something that leads in a loss. I'll give an excellent real estate example. I just sold a condo in a building that had only one sale in the past 18 months. Very desirable building. No one really wants to sell. At the height of the market is was worth %$500,000. It took 7 months to sell and closed escrow a week ago for $301,000. No one really knew how much values fell, and the only way to know was on a closed sale, hence, it's now the loss leader, unfortunately. By the way, don't get mad at your neighbor that sells too low, it's not their fault, unless they have a stupid or lazy agent. Most of the time it's just the market and you can't control the market.