Hi Kara- I'm just taking a look at your 2nd question here. Yes, there's no rhyme or reason- nothing you can pinpoint and no what and when something is going to happen or adjust.
Keep in mind- for this home or another bank-owned property- that your financing of it/ your mortgage may be difficult.
If there has been stolen copper (water) lines or if any of the mechanical systems are not functioning, most lenders will not approve that new mortgage as is. Even though the selling bank is trying to sell it to you "as is". It's the typical catch-22.
You may want to learn a little about an FHA mortgage program called a 203k, and the 203k streamline. In some cases these are the only types of current mortgages for the new buyer that will even work. If you'd like more info on that, please let me know. Thanks, and Good Luck,
Ken L.

There is no rhyme or reason. Generally after 100 days on market they start to reduce the price in earnest, but it is a slow arduous process. Each bank, and each agent involved is another variable and each will act differently. There needs to be some real regulation is this segment of the industry.

Banks are really difficult to predict. It sounds like it is due for another price drop ... 60 days is about average. Hard to say though and it will depend on how much, if any, activity they have received on the property since it came BOM. Again, the banks only care about money ... they have no emotional interest or liability on the property so they will drop the price randomly until there is activity and then they will wait until they get the highest price.