Falling Prices
High foreclosure and unemployment rates have made it unusually hard for people to sell their homes. That means sellers have to be patient as well as flexible. Can you say price cut? Some 26 percent of homes currently on the market since Sept. 1, 2009 have had at least one price cut, according to real estate search website Trulia.com. The median reduction was 10 percent. During this past summer, homeowners hacked a total of $28.5 billion from home prices.
The slashed prices have left what many consider a wealth of bargains across the country. Take a look at these homes that have seen about a 20 percent drop in price since being listed.
Posted Oct. 8, 2009
Atlanta, Ga.
Original Listing Price: $2.8 million (May 2009)
Current Price: $1.6 million
Percent Change: -43 percent
Owned by former Atlanta Braves pitcher Mike Hampton, the three-level home has a little bit of everything, including an exercise room, wine cellar and a putting green.
»More Information
Chicago, Ill.
Original Price: $2.95 million (2007)
Current Price: $1.95 million
Percent Change: -34 percent
This renovated, five-story elevator home has seven bedrooms and covers more than 5,000 square feet of space.
»More Information
Grosse Pointe Farms, Mich.
Original Price: $329,000 (Sept. 2008)
Current Price: $229,000
Percent Change: -30 percent
Not far from Lake St. Clair, this brick colonial has a new kitchen, finished basement and a patio in the rear.
»More Information
Mount Pleasant, S.C.
Original Price: $890,000 (Oct. 2007)
Current Price: $675,000
Percent Change: -24 percent
Located in Charleston, S.C., this three-bedroom home sits on a quiet cul-de-sac.
»More Information
Sarasota, Fla.
Original Price: $579,000 (Oct. 2008)
Current Price: $499,000
Percent Change: -14 percent
A new stainless steel refrigerator and stove were added to the kitchen in this home, which also has views of a golf course.
»More Information
Beaver Creek, Colo.
Original Price: $17.9 million (June 2007)
Current Price: $13.9 million
Percent Change: -22 percent
This rustic-looking home has many modern amenities, like an elevator, a media room and a bowling alley.
»More Information
New York, N.Y.
Original Price: $1.895 million (March 2009)
Current Price: $1.5 million
Percent Change: -21 percent
In Manhattan's Chelsea neighborhood, this two-bedroom apartment has a custom kitchen, wide-plank hardwood floors and two marble bathrooms.
»More Information
Las Vegas, Nev.
Original Price: $625,000 (July 2009)
Current Price: $499,000
Percent Change: -20 percent
This five-bedroom, five-bath, stucco house features a pool and attached hot tub.
»More Information
