Hi John, I am only familiar with the area from Traveling thru it, but after researching the comparables a bit, I would say that there are just too many REALLY great houses in this price range, and lower. The Market is flooded with houses in the 200,000 range that are just as nice. Perhaps they are not as big, but as the economy slows, and people are forced to re-evaluate thier incomes and bills. Heating a house of this size, paying the taxes etc...has to be keeping people from seriously considering it. Especially when there are so many other homes.
In my personal opinion, after looking at the property, it's very well kept, but it's kind of "plain" compared to some of the other listings in the same area. The paint colors are dull, but well painted, and the Kitchen is White. While that looks beautiful, and could come out of a magazine. A Person who needs a 4 bedroom home because of children would probably shy away from a white kitchen if there was a house just as nice with a Walnut, or Black :0) kitchen available.
It's a Beautiful House though! The Owners have done a great job with the upkeep on such a large property!