Sellers are cutting prices. Even Burt Reynolds.
Sellers are finally coming to grips with the market and are cutting the prices on their homes if they’re serious about selling. The dip in the Florida real estate market has hit everyone, including Burt Reynolds. Reynolds has a 12,500 sq ft waterfront property near Hobe Sound, just north of Palm Beach. The Mediterranean-style home has five bedrooms, a billards room, exercise room and, of course, a home theater. If you need a guest house, Burt has one waiting for you. Throw in a pool with a gazebo and waterfall, a boat dock and a helipad and you have the perfect Florida get-away.
So you want to know the price for this compound? Well, Burt bought the property for $700,000 in 1980 and listed the home for $15 million two years ago and then raised the price to $15.9 million a year ago. Recently he’s obviously seen the light and according to the Wall Street Journal has reduced the asking price to $12.9 million and then again to $10.5 million. That’s about a 30% reduction from the orginial list price. Now your talkin Burt!