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Mansions Marked Down by Millions

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 Colorado mega-lodge, 16-and-a-half bathrooms is seen as excessive enough to be a turnoff.

Click ahead to see the following list of drastically discounted mansions, provided by Trulia.com.

By Colleen KanePosted 25 October 2011

Trulia.com