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Zillow Real Estate

Million-dollar homes with million-dollar price cuts

comp:000051c6b94e:0000004a2d:157c 0 <div class="the-content clearfix"><p>While it&#8217;s not uncommon for a home&#8217;s price to drop by a few grand after sitting on the market for a year or two, a 25 percent or larger cut after a couple of months is the sign of a truly motivated seller. And, in the luxury market, a price break of this size means buyers can land their dream home for millions less. Check out these pricey pads now asking $2 million to $8 million less than their original price.</p> <h3>Aspen, CO</h3> <p><a href="http://www.zillow.com/homedetails/1518-W-Buttermilk-Rd-Aspen-CO-81611/13996266_zpid/#hdp-photo-lightbox"><img class="aligncenter" alt="Aspen, CO" src="http://cdn2.blog-media.zillowstatic.com/1/Aspen-CO-d2f6f4-e1372361064260.jpg" width="500" height="375"/></a><br/> <a href="http://www.zillow.com/homedetails/1518-W-Buttermilk-Rd-Aspen-CO-81611/13996266_zpid/#hdp-photo-lightbox">1518 W Buttermilk Rd, Aspen, CO </a><br/> Previous list price: $22.5 million<br/> Price cut: -$7.5 million (33.3 percent)<br/> <strong>Current list price: $15 million</strong></p> <p>For $15 million, a buyer&#8217;s expectations are rightfully high. And when a home is originally priced at $22.5 million just six months ago, the finest finishes and amenities are a must. Custom designed by noted builder Gregory &#8220;Skip&#8221; Gozzo, this Aspen home fits the bill with 7 bedrooms, 6 en-suite bathrooms, 2 powder rooms, 3 full kitchens, 2 libraries, a vaulted great room and a patio with a waterfall and mountain views.</p> <h3>Vero Beach, FL</h3> <p><a href="http://www.zillow.com/homedetails/2110-S-A1a-Vero-Beach-FL-32963/2113448038_zpid/"><img class="aligncenter size-full wp-image-125277" alt="Vero Beach, FL" src="http://cdn2.blog-media.zillowstatic.com/1/Vero-Beach-FL-673c95-e1372369269796.jpg" width="500" height="333"/><br/> 2110 S A1a, Vero Beach, FL </a><br/> Previous list price: $16.9 million<br/> Price cut: -$5.905 million (34.9 percent)<br/> <strong>Current list price: $10.995 million</strong></p> <p>With more than 120 feet of ocean frontage, this Vero Beach property has a lot to offer for $5.905 million less than what it was listed for two months ago. The 6-bedroom, 9-bath home was built in 2008 with a colonial-inspired design and contemporary finishes.</p> <h3>Thousand Oaks, CA</h3> <p><a href="http://www.zillow.com/homedetails/578-W-Potrero-Rd-Thousand-Oaks-CA-91361/71002331_zpid/"><img class="aligncenter" alt="Thousand Oaks, CA" src="http://cdn2.blog-media.zillowstatic.com/1/Thousand-Oaks-CA-dbe4a5-e1372360440184.jpg" width="500" height="375"/><br/> 578 W Potrero Rd, Thousand Oaks, CA </a><br/> Previous list price: $13.995 million<br/> Price cut: -$3.496 million (25 percent)<br/> <strong>Current list price: $10.499 million</strong></p> <p>This Thousand Oaks home has a motivated seller, recently slashing the price by 25 percent. The 24-acre property includes an entertainment pavilion, gardens, aviaries, stables, a private chapel and tennis courts.</p> <h3>Bainbridge Island, WA</h3> <p><a href="http://www.zillow.com/homedetails/0-Undisclosed-Bainbridge-Island-WA-98110/2113892546_zpid/#hdp-photo-lightbox"><img class="aligncenter size-full wp-image-125237" alt="Bainbridge Island, WA" src="http://cdn1.blog-media.zillowstatic.com/1/Bainbridge-Island-WA-297aa0-e1372361481712.jpg" width="500" height="292"/></a><a href="http://www.zillow.com/homedetails/0-Undisclosed-Bainbridge-Island-WA-98110/2113892546_zpid/#hdp-photo-lightbox">Undisclosed address, Bainbridge Island, WA </a><br/> Previous list price: $12.8 million<br/> Price cut: -$3 million (23.4 percent)<br/> <strong>Current list price: $9.8 million</strong></p> <p>The designer of this Bainbridge Island glass house, Miller Hull, received the American Institute of Architects&#8217; highest honor in 2003 for his firm&#8217;s refined, eco-friendly aesthetic. This 10,499-square-foot home and 500-square-foot art studio are no exception with 1,000-year-old recycled cedar framing a prime view of the Olympic Mountains. And now with a recent 23.4 percent price break, the home is available for less than $10 million.</p> <h3>Mendota Heights, MN<a href="http://www.zillow.com/homedetails/614-Hidden-Creek-Trl-Mendota-Heights-MN-55118/61191945_zpid/#hdp-photo-lightbox"><img class="aligncenter size-full wp-image-125250" alt="Mendota Heights, MN" src="http://cdn1.blog-media.zillowstatic.com/1/Mendota-Heights-MN-b20a1f-e1372362999683.jpg" width="500" height="375"/></a></h3> <p><a href="http://www.zillow.com/homedetails/614-Hidden-Creek-Trl-Mendota-Heights-MN-55118/61191945_zpid/#hdp-photo-lightbox">614 Hidden Creek Trl, Mendota Heights, MN<br/> </a>Previous list price: $7.9 million<br/> Price cut: -$2.905 million (36.8 percent)<br/> <strong>Current list price: $4.995 million</strong></p> <p>A 15-minute drive to St. Paul, this 13,747-square-foot estate was originally listed for $7.9 million. The traditional home boasts quality craftsmanship, a sunroom, indoor basketball court and pool on 5.12 acres for less than $5 million.</p> <p><strong>Related:</strong></p> <ul> <li><a href="http://www.zillowblog.com/2013-02-12/dick-clarks-flintstones-home-gets-a-price-cut/">Dick Clark&#8217;s &#8216;Flintstones&#8217; Home Gets a Price Cut</a></li> <li><a href="http://www.zillowblog.com/2011-05-31/dennis-quaids-equestrian-retreat-gets-3m-price-cut/">Dennis Quaid&#8217;s Equestrian Retreat Gets $3M Price Chop</a></li> <li><a href="http://www.zillowblog.com/2011-10-10/33-5-million-price-cut-for-georgia-mansion-le-reve/">Georgia Mansion Sells After $33.5M Price Cut</a></li> </ul> <p><em><a href="https://plus.google.com/117503647867235930279/posts?rel=author" target="_blank">Catherine Sherman</a>, a real estate writer for Zillow Blog, covers celebrity real estate, industry trends and home improvement tips. Read more of her work <a href="http://www.zillowblog.com/author/catherinesherman/">here</a>.</em></p> </div>
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