Miami Beach Luxury Homes, the Prices are Falling NationwideMansions priced at $1 million-plus are harder to sell, so owners ask for less and add perks.
Mike and Marti Palmer entertained the idea of trading their unsold custom luxury home for something smaller, after lowering their Lake Bluff estate three times and by more than $1 million dollars from the $4.2 million asking price.
They are by no means "distressed sellers" and own 70% equity in the 9,700-square-foot luxury home perched on a wooded ravine near Lake Michigan, but they have been forced to think creatively about how to market the 15-room English-style mansion, now going for $3 million.
Full Article...Luxury Homes, Miami Beach real estate
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