Want to save a million?

Million-Dollar Homes With Million-Dollar Price Cuts

Catherine Sherman | Zillow Blog | June 27, 2013 | link

While it’s not uncommon for a home’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.

Aspen, CO

Aspen, CO
1518 W Buttermilk Rd, Aspen, CO 
Previous list price: $22.5 million
Price cut: -$7.5 million (33.3 percent)
Current list price: $15 million

For $15 million, a buyer’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 “Skip” 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.

Vero Beach, FL

Vero Beach, FL
2110 S A1a, Vero Beach, FL 

Previous list price: $16.9 million
Price cut: -$5.905 million (34.9 percent)
Current list price: $10.995 million

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.

Thousand Oaks, CA

Thousand Oaks, CA
578 W Potrero Rd, Thousand Oaks, CA 

Previous list price: $13.995 million
Price cut: -$3.496 million (25 percent)
Current list price: $10.499 million

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.

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