Seattle’s most expensive home for sale slashes price by $30M

Key Points:

• A Lake Washington waterfront mansion in Seattle has reduced its asking price by $30 million, now listed at $45 million, making it the city's most expensive home for sale despite the significant price cut.
• Originally listed at $75 million nearly a year ago, the Georgian-style mansion was built in 2009 on a 1.6-acre lot with extensive luxury features, including a private dock, swimming pool, and spa.
• The property, owned by philanthropist Bruce Blume since 2005, replaced a 1928 Tudor-style manor and has hosted Democratic fundraising events attended by President Barack Obama.
• The home is the second-most expensive residential listing in Washington state, trailing a Yarrow Point mansion listed at $65 million, which also saw a substantial price reduction.
• Luxury properties like this often experience long market times and significant price adjustments due to a limited buyer pool and the patience of wealthy sellers.