talk about a price reduction!! WOW

I was checking out some yahoo articles this morning and found one that made me laugh.  Some of the largest mansions in the world aren't selling. GO FIGURE. check out the article below. These homes are stunning and the features are incredible. Enjoy the article

 

Massive Mansion Markdowns

 
The following nine enormous homes started out with price tags that were even more enormous than they are now. All told, these properties have been reduced in price by more than $85 million.

Why do these upscale properties linger on the market? When the lowest asking price out of these mansions is about $10 million, you’re already talking about a limited pool of potential buyers. Perhaps some of the properties are too specialized, as a few residences in this collection cater to pretty specific interests, reducing the number of potential buyers even further. Not every billionaire shopping for a home needs storage for several thousand wine bottles, say, or 56 acres of working ranch land and a 7,000-square-foot equestrian facility. Or perhaps, in the case of one Aspen-area mega-lodge, 16-and-a-half bathrooms is seen as excessive enough to be a turnoff.


Continue reading to see the following list of drastically discounted mansions, provided by Trulia.com.

See more: Massive Mansion Markdowns


 

 

Santa Barbara, California

Price Cut: $15,005,000
New Price: $19,995,000
Bedrooms: 5
Bathrooms: 5 full, 1 partial
Square Feet: 13,875

This modernist home, set on about 3.5 acres, is known as the Glass Pavilion and it is the mansion with the most dramatic price drop on this list. The home was completed in spring of 2010, and architect Steve Hermann lived in it but soon decided to sell after the birth of his daughter. It debuted on the market last year with the much-steeper price tag of $35 million, with the furniture negotiable. Despite three price reductions, it has yet to find an owner. That said, this extraordinary property is not for everyone. It has a wine room that holds several thousand bottles, and an art gallery currently housing Hermann’s vintage car collection. Perhaps what is giving buyers pause is the lack of privacy, particularly with the showers that have clear glass walls to outside (pictured here).

 

(Trulia.com)

 

 

Malibu, California

Price Cut: nearly $6,000,000
New Price: $10,950,000
Bedrooms: 4
Bathrooms: 4
Square Feet: 3,191

This Asian-inspired seaside compound is situated in a gated community on Malibu’s Broad Beach, with views of the scenic coastline called Queen’s Necklace. The 1961 beach house on a double lot (about half an acre) is positioned around a central courtyard with a pool and gardens that are spanned by a footbridge. The home has been on the market five months and its price was cut by $6 million in July.

 

(Trulia.com)

 

 

Snowmass, Colorado

Price Cut: $5,100,000
New Price: $19,950,000
Bedrooms: 9
Bathrooms: 6 full, 2 partial
Square Feet: 12,000

Meanwhile Ranch, located on 56 acres near Colorado’s Snowmass ski resort, has been on the market for more than eight months. Since June it’s been priced at a reduction of more than $5 million. The property consists of a main lodge in the grand rustic tradition of National Park lodges, as well as many outbuildings and external features including a 1911 guest house, caretaker apartments, a barn and a 7,000-square-foot equestrian facility. It’s unclear if this helps or hurts the case to sell the property, but the late singer Michael Jackson and his kids vacationed here in 2004, when the rental price was $125,000 a month. His visit made headlines after he rolled into the nearest Wal-Mart store wearing a ski mask. Employees, fearing it was a robbery, called the police.

 

(Trulia.com)

 

 

Weston, Massachusetts

Price Cut: $3,000,000
New Price: $10,000,000
Bedrooms: 7
Bathrooms: 8 full, 1 partial
Square Feet: 15,000

This classical 1994 Kasota stone and stucco estate has a two-story rotunda entry hall with limestone steps, decorative pillars, a mahogany library with coffered ceiling, fireplaces and a dining atrium. The property includes an expansive stone terrace, a pool, a hot tub and a tennis court on its 3.75 acres. The mansion has been on the market about a year and a half, and its asking price was cut by 22.8 percent in late spring.
 

 

(Trulia.com)

 

 

Paradise Valley, Arizona

Price Cut: $4,900,000
New Price: $14,000,000
Bedrooms: 4
Bathrooms: 9
Square Feet: 14,304

This sprawling house was first listed in March 2011 for $16.5 million and has gone through two price reductions of $2.4 million, most recently shedding another $2.5 million. The structure combines traditional posh style with all the modern concessions of a mansion custom built in 2004, including a master bedroom with extra-large walk-in closets, a chef’s kitchen, a butler’s pantry, and a two-bedroom guest suite with a kitchenette. Also on the approximately five acres of property is a private studio with a living room and 20-foot ceilings, an office, kitchenette and bath.

 

(Trulia.com)

 

 

Telluride, Colorado

Price Cut: $2,600,000
New Price: $14,900,000
Bedrooms: 10
Bathrooms: 16 full, 1 half
Square Feet: 14,526

The gargantuan mountain lodge known as Autumn Ridge has been listed on Trulia since the end of 2010, and its original price dropped by about 15 percent mid-year. In addition to the expected mountain views, a wine cellar, a home theater, a hot tub, a guest house, and a fitness center, it has a bowling alley, a private elevator, and is a ski in/ski out property.

(Trulia.com)

 

Dallas, Texas

Price Cut: $3,300,000
New Price: $9,950,000
Bedrooms: 7
Bathrooms: 8
Square Feet: 13,002

This stone estate went on the market in May, and by July the price dropped by about 25 percent. The 11-year-old mansionhas Old World style, at times evoking a castle, coffered and vaulted ceilings, wood floors as well as wood paneling in the kitchen and billiards room. It also has a most unusual bathroom, with a bathtub surrounded by an arc of aquariums, pictured here.

(Trulia.com)


 

Greenwich, Connecticut

Price Cut: $5,200,000
New Price: $12,800,000
Bedrooms: 7
Bathrooms: 6 full, 1 partial
Square Feet: 12,000

This Georgian mansion from 1942 was listed at the beginning of this year and took a price cut of nearly 30 percent in September. The home was designed for art collectors and it has multiple galleries and other features including a country kitchen and solarium, a master suite with lake views, a theater, a playroom and a wine cellar. External features of the nearly five acres of lush grounds include the private lake, pool and pool house, and a hidden tennis court with a nearby waterfall.

 

(Trulia.com)

 

Hillsborough, California

Price Cut: $3,800,000
New Price: $14,975,000
Bedrooms: 6
Bathrooms: 8 full, 2 partial
Square Feet: 15,000

This Mediterranean-style estate was first listedon Trulia in early spring and then discounted a few months later. It features a dramatic double-stairway entry hall, a chef’s kitchen, a home theater, a covered outdoor kitchen and lounge area, and a pool.

Gavin Heintz

Gavin Heintz

REALTORĀ®
CENTURY 21 Advantage
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