Huge reduction on overpriced Glendale condos

The Excelsior at Americana has just reduced prices on all of its condos.  High time.  Prices used to run $842,000 to $1,124,000 for units from 1,338 sf to 1,529 sf.  Oh, yes, that's right -- they did have a view of the common area.  Was there really a market clamoring for condos at that price point in Glendale?  Are there really lots of buyers who wish to live over a shopping mall (actually, that might be fun) and pay a premium on Glendale real estate to do so?  Anyway, the prices are now $585,000 to $695,000 -- still high, but not out of line with prices on condos in the area.