Did I offer too much?

[Evan Myers]

3 bed 2 bath 2 car detaced garage 1674sf

Listed as REO on 8/11/11 @ $64k

Reduced after 120 days @ $59k

Reduced after 365 days @ $45k

Comps in area selling between $42 - 88k

Offered $30k cash no contingencies 5k EMD 10 day close. It's now been on the market for over 2 years. There are a massive number of houses on the market here; coupled with low interest rates I think this is why it hasn't sold.

It's been 4 business days and still no response from bank.