http://upi.com/NewsTrack/view.php?StoryID=20060126-040731-5248rSen. John McCain, R-Ariz., tests the declining real estate market as he tries to sell his recently price-reduced $3.75 million Phoenix mansion.
The 11,000 square foot estate, with its nine bedrooms and eight bathrooms -- and eight surveillance cameras -- has been on the market for three months.
Only six prospective buyers have checked it out, the Arizona Republic says. That led to a half-million-dollar price cut.
A year ago, there were 145 homes priced at $500,000 or more for sale in Phoenix. Now, there are 1,341. Houses were selling in days last year, but now, it's taking an average of six weeks.
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