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Continuing a trend started last summer, this newly-constructed stucco mansion in Water Mill North has shed another $1 million off its asking price. The property was originally listed in 2009 for $9.995 million, so this 'chop is particularly noteworthy. Now available for $6.995 million, the eight-bedroom home sits on an expansive 6.5-care plot of land, complete with distant water views and enough woodworking to make your head spin. [Trulia; Corcoran]