TAKE a look around a stunning Beverly Hills pad formerly owned by American pop singer Cher. It’s one of this week’s list of international dream homes to have hit the market …Real
The $1 billion price cut: Luxury real estate gets slashed
The most expensive
The high-end real-estate market has seen steep price cuts in recent months as foreign buyers dry up, new tax laws bite the wealthiest states and sellers realize the market peak of 2014-2015 isn't coming back anytime soon, luxury brokers say.
"Prices were growing too fast for what buyers were willing to pay," said Taylor Marr, a senior economist at
Some of the price cuts have reached tens of millions of dollars, according to the listing. The Ziff family estate in Manalapan Florida cut its price in May by $27 million, from $165 million to $138 million. That follows a previous price cut, from $195 million last year — so it's price has dropped by $57 million over the past year.
A 10-bedroom mansion on Miami Beach's posh Star Island cut its price by $17 million in May, from $65 million to $48 million. A giant apartment at New York's Sherry Netherland had its price cut by $18 million, falling from $86 million to $68 million.
My name is Jon Motsenbocker and I was born and raised in Fresno, California. I've only had two hourly wage jobs in my lifetime. I've spent more than 30 years in commission sales, so I understand what ....
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The most expensive real-estate in America just became a little less expensive — with $1 billion in price cuts among America's top listings over the past few months, according to a CNBC.
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