Million Dollar Home Price Reductions

Photo and Info: Trulia.com America's real estate market has had a rough ride over the past two years, with home valuations dropping and foreclosure rates on the rise, but how big can these drops really be?Recently, Trulia.com released their "October Price Reduction Report," which highlights some of their high-end listings that have dropped significantly in price, in excess of $1 million. The report also found that 25.6% of all homes on the market as of Oct 1 have experienced at least one price cut, with the total amount of prices slashed reaching a shocking $28.4 billion. Of the houses with price reductions, the luxury market represents only 2% of the listings on Trulia, but represents 25% of the value in total home price reductions.So, what are some of the country's biggest real estate markdowns? Click ahead to see 10 examples of million dollar price reductions!By Paul ToscanoPosted Oct 8 2009

Source: Trulia.com Price Reduction: $1,000,000Current Price: $2,995,000Original Price: $3,995,000House Stats2 Bedrooms3.5 Bathrooms3,270 sq ftClick Here For More on This Home

Source: Trulia.com Price Reduction: $1,100,000Current Price: $8,900,000Original Price: $10,000,000House Stats7 Bedrooms8 Bathrooms11,039 sq ftClick Here For More on This Home

Source: Trulia.com Price Reduction: $1,505,000Current Price: $10,995,000Original Price: $12,500,000House Stats9 Bedrooms11.5 Bathrooms17,799 sq ftClick Here For More on This Home

Source: Trulia.com Price Reduction: $2,000,000Current Price:  $7,999,000Original Price: $9,999,000House Stats5 Bedrooms4 Bathrooms9,578 sq ftClick Here For More on This Home

Source: Trulia.com Price Reduction: $2,000,000Current Price:$7,900,000Original Price: $9,900,000House Stats5 Bedrooms5 Bathrooms, 2 Half11,114 sq ftClick Here For More on This Home

Source: Trulia.com Price Reduction: $2,000,000Current Price:  $7,999,000Original Price: $9,999,000House Stats5 Bedrooms4 Bathrooms9,578 sq ftClick Here For More on This Home

Source: Trulia.com Price Reduction: $2,400,000Current Price: $5,485,000Original Price: $7,885,000House Stats7 Bedrooms10 Bathrooms, 2 HalfClick Here For More on This Home

Source: Trulia.com Price Reduction: $2,950,000Current Price: $21,000,000Original Price: $23,950,000House Stats6 Bedrooms11 BathroomsClick Here For More on This Home

Source: Trulia.com Price Reduction: $4,000,000Current Price: $28,000,000Original Price: $32,000,000House Stats6 Bedrooms6 Bathrooms27,000 sq ftClick Here For More on This Home

Source: Trulia.com Price Reduction: $5,400,000Current Price:  $29,500,000Original Price: $34,900,000House Stats4 Bedrooms5.5 Bathrooms10,000+ sq ftClick Here For More on This HomeMillion Dollar Homes Across America: Then & NowWorld's Most Expensive Real Estate MarketsAmerica's Coolest Beach HomesReplay Slideshow

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