Priciest Homes on the Market

From Realtor Magazine Online, Daily Real Estate News May 30, 2008

After trying to sell his Palm Beach home, Maison de L’Amitie, for two years at $125 million in March, Donald Trump knocked $25 million off the price.

It was the largest discount ever for a single residence not involved in a bankruptcy proceedings.

As Trump’s experience proves, even the most expensive homes aren’t immune to the current economy, but overall, "Inventory is relatively tight for trophy-type properties," says Jonathan Miller, president of Miller Samuel, a Manhattan real estate appraisal firm.

Miller says the inventory of Manhattan homes priced at $8 million and up has declined by 35 percent over the last year. "If we were having this conversation six to nine months ago, we'd say it was Wall Street bonuses," he says, "but the weak dollar has certainly played a role," by attracting foreign buyers.

In addition, sellers like Trump are increasingly flexible. "The resistance has lessened,” says Nelson Gonzalez, a broker at Esslinger-Wooten-Maxwell in Miami Beach. “Smarter sellers are dropping their prices, and buyers are coming up a little bit more to make deals."

Here are the top-nine priciest homes on the market now:

* $125 million, Fleur de Lys Beverly Hills, Calif.
* $125 million, Dunnellen Hall, Greenwich, Conn.
* $100 million, Tranquility, Lake Tahoe, Nev.
* $100 million, Maison de L'Amitié, Palm Beach, Fla.
* $95 million, Hillandale, Stamford, Conn.
* $88 million, BootJack Ranch, Pagosa Springs, Colo.
* $85 million, Bel Air, Calif.
* $80 million, Southampton, N.Y.
* $75 million, The Portabello Estate, Corona del Mar, Calif.

Source: Forbes, Matt Woolsey (05/19/08)