Million-dollar homes: Massive discounts

Million-dollar homes are the most affordable they've been in years. In fact, $600,000 is the new $1 million, according to Alex Villacorta, senior statistician for Clear Capital. Here are 7 smoking deals from around the country.

1 of 7
Palm Springs, Calif.
Palm Springs, Calif.
Price: $1.15 million
Discount: 28%

Description:When this modern Mediterranean was built in 1946, Palm Springs was in its golden age, with Hollywood celebrities flocking to the city.

This 5-bedroom, 5.5-bath house went through a complete remodeling in the 1980s and has since been well maintained. The 4,600-square-foot home's most dramatic feature is a solarium with a full bar and 45 feet of sliding glass that opens onto the garden and pool. There's also high ceilings, a maid's quarters, a guest house, and mountain views.

A few years ago, a large, well-built house like this would have sold in the $1.5 million to $1.6 million range, according to agent Ben Leaskou but the housing bust has taken the price down to a very reasonable level.

For further information: Trulia

NEXT: Sarasota, Fla.
Last updated November 11 2010: 8:31 AM ET
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