Denee,

That home originally came on the market in 2003 for $10,800,000. It is incredible and by far, the smartest house I have ever been in. The design is captivating and the technology is "uber-cool", creating a most exceptional home and extraordinary experience! I introduced this home to a writer at Forbes Magazine, who wrote a very interesting story on it. The new owners of this home got a bargain last August at the purchase price of $7,300,000!! I'm sure they wake up each day wondering if they will wake up from their dream, enjoying their home as much and more than the first day they laid eyes on it. A great buy in Franklin Lakes!

This house sold in August 2007.

WOW! What a beautiful house! Sadly it's been on the market for 303 days. THe price has come down significantly. In that price range it's not uncommon to see a house sit for a year or more.

It's a very hard house to comp because there's nothing else that big that's sold in the last 9 months. They've come down nearly a million dollars and they'll likely need to some down more. (A LOT more)

Denee, Check with a broker and see how long it's been on the market, not just the current listing but a street address search to see if this is the 1,2 or 3rd broker to list the property. A good rule of thumb is that if a home is on the market for more than 60 days, it's not priced right for the existing marketplace and needs an adjustment. Be careful if you like the home makean offer, sometimes when the owner reduces it takes on a whole new band of buyers and gets sold within the next 30 days, don't wait for a price change, make an offer with the help of a broker who can do a reverse market analysis for you.