Look at the comparables on Zillow.

It’s a race to the bottom from the high in May 2006.

The same size and beds/baths 2158 sq ft 4/2.5 sold then for $630. One street over. Since then:

8/22/06 – 3/2.5 50 2095 sq ft at $581 (couple doors down on same steet)

8/7/06 – 4/2.5 2038 sq ft $535K ( 1/2 mile away)

8/29/06 – 4/2.5 1878 sq ft $495 (1/2 mile away)

10/24/06 – 4/3 2296 sq ft $545K (1/2 mile away)

Looks like last sale on the house was $585K in June ’04.