SFR down 25% in La Jolla from 2003 to now: 1415 Cottontail Ln

See http://www.redfin.com/CA/La-Jolla/1415-Cottontail-Ln-92037/home/4935000

Nov 24, 2003 Sold $1,565,000
Apr 07, 2009 Sold $1,179,017

Does anyone have any knowledge of this property? Typical SFR prices in La Jolla are still higher than in 2003.