I wondered back in 2006, when I first saw today's estate listed, if it was a bit overpriced. It turns out I may have been right, it has gone through a major price reduction since then. Luxist reader Ryan reminded me of Edge Wood in Virginia Beach, Virginia. It is a large six bedroom home which was built in 2002 and sits on the waterfront. It has two docks, three boat lifts and a sandy beach. The compound is over three acres and has more than 21,000 total square feet of space including a large guest house. The home includes details such as a billiards room with a bar, a large art studio and a master suite with a wet bar. It is listed at $16 million, which is less than two-thirds the price it was two years ago when it was listed at $24.5 million.

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