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After Nine Months, EH Three-Bedroom Gets A $500K Chop

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After hitting the market in December for $2.995M, the owner of this waterfront cottage in Northwest Woods just knocked $495K from the ask. A pretty dramatic cut for a listing in this price range...or any price range, really. Looks like someone's getting serious about selling.

As for the home, it's got all the hallmarks of a modern: Clean lines, open spaces and walls of glass. "Designed and built by Shell & Core", the 2000 square footer also boasts "Control4 Home automation, Fleetwood floor to ceiling sliders, Wolf Range, Sub Zero fridge, Wolf wine fridge, Miele Washer and Dryer, Calazzo outdoor shower, luxurious master with steam shower, [and a] fire orb fireplace." You won't find a pool* on the .6 acre property, but considering that Three Mile Harbor is right out the back door, that might not be an issue.

So...do you think the new $2.5M pricetag will be enough to entice a buyer or will we be seeing more chops in this listing's future?

· Listing: The Perfect Beach House [Sotheby's International Realty]

* Although the listing notes that there's a heated pool found on the property, we can't find any trace of it in the listing photos or Google Maps. It could just be hiding, though.