The Multi-Regional Multiple Listing Service(MRMLS) reports that this home was listed at $680,000, and closed escrow July 1, 2009. The reported sold price was for $670,000 with 20% down. The listing was changed from Active to Back-up Offer's only on May 31, 2009. So your offer may have been a back-up offer, but that should have been disclosed to you either before the offer went in, or shortly there after.
I wish you luck in your continued search for a home.
Make it a great day,
Seth T. J. Miller
Broker- My Real Estate Pro West Covina
PS- you can follow my on twitter @BrokerSeth