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Price cuts are everywhere - Oct 8, 2009
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October 08, 2009
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Price cuts are everywhere
In the land of price reductions, there are no laws. Some home sellers choose to reduce their asking price by a few thousand while others shave off millions. As of this month, more than one in four homes have cut their asking price at least once – totaling an impressive $28.4 billion. But what’s in it for you? More house for your money, that's what. Read Trulia's October price reduction report.
October Price Reductions – Top 10 U.S. Cities
Rank City State Percent of Lisings with Price Reductions Total Amount of Reductions
1 Memphis TN 36% $27,048,295
2 Minneapolis MN 36% $26,925,756
3 Portland OR 36% $58,329,873
4 Indianapolis IN 36% $35,428,503
5 Baltimore MD 36% $44,480,261
6 Milwaukee WI 35% $19,047,006
7 Jacksonville FL 35% $104,019,823
8 Tucson AZ 34% $71,285,454
9 Raleigh NC 33% $44,580,508
10 Boston MA 33% $45,619,224
Price slashed luxury homes
Chateau Villandry in Chicago– reduced $4M


$28,000,000 / 6bd / 6ba / 27,000 sqft
Price reduced $4,000,000 		Ever dream of living in a place rich with history? Consider this architectural gem. Inspired by French aristocracy, this masterpiece displays impeccable European craftsmanship throughout. From the pillared grand entrance to the finely detailed chandeliers and well-manicured grounds, you will definitely feel enlightened.


Medieval getaway in Phoenix– reduced $1.5M


$10,995,000 / 9bd / 11.5ba / 17,799 sqft
Price reduced $1,505,000 		With an 18,000 sqft estate on 1.03 acres of land, you can easily step back in time and imagine life in King Arthur’s era. From the gated stone entrance to the wooden fixtures and ceilings, it won’t be too hard to adjust. Now, all you need is a white horse.


Luxury hideout in Las Vegas – reduced $2M


$9,950,000 / 6br / 6ba / 12,786 sqft
Price reduced $2,050,000 		Do you dream of living in the bright lights, dramatic architecture and lifestyle of Sin City? Maybe you should make it a reality. Reduced over $2M, this custom tri-level home includes the finest finishes, a disappearing edge waterfall and an in-ground spa – just to name a few. And, since there’s a view of The Strip, you’ll never be far away from the party.


 
House of the week | Tuscan-inspired estate
House of the week
$2,300,000 / 5bd / 5.5ba / 7,700 sqft
Want to enjoy endless views of valleys and mountains while you are grilling in your outdoor kitchen or enjoying a mojito on the patio? If so, check out this Tuscan-inspired estate in Leesburg, VA made of only the finest materials and include state-of-the-art entertainment systems.

Review your homeowner's insurance policy annually
Celebrity home sightings | Get your superficial fix here

Ponzi schemer Bernie Madoff is selling his Montauk oceanfront retreat with a two-story fireplace and panoramic views of the beach
$8,750,000
4bd / 3ba / 3,000 sqft

Previously owned by Tom Jones and Dean Martin, Nicolas Cage lists his Tudor mansion in prime Bel Air boasting hidden rooms and staircases
$17,500,000
7bd / 9ba / 11,817 sqft

Evan Williams, CEO of Twitter, and his wife are selling their Manhattan-style S.F. penthouse, located in the historical Heublein Building
$1,498,000
2bd / 2ba
Advice & opinions | Get insightful, fast, FREE advice on home buying & selling
Question of the week
Q: When a buyer cancels a contract, what is the time frame for the seller to sign and return the release form?
The answer will depend on whether or not an escrow deposit has already been made. If no escrow deposit has been made, then I be surprised if you ever heard from the seller again.…
Asked by Gary, Other/ Just Looking in Orlando, FL
Read more or reply »
Real estate eye candy | Trulia picks
Sweet price reductions
What do a new construction, country club estate and Romanesque Castillo have in common? All have had price cuts!

Charlotte, NC
$1,950,000
5bd / 7.5ba

Price reduced $445,000
Calculate mortgage


Long Beach, CA
$2,995,000
4bd / 4 full 2 partial ba /
6,829 sqft
Price reduced $395,000
Calculate mortgage


San Diego, CA
$2,795,000
5bd / 5.5ba / 6,200 sqft

Price reduced $555,000
Calculate mortgage

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