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Kerry Wood

Price chops: Self-help author discounts estate by $4.7 million

Price chops: Self-help author discounts estate by $4.7 million

Author Rhonda Byrne is hoping a multimillion-dollar price cut will be the secret to finding a buyer for her Montecito, Calif., home. She’s now asking $18.8 million for her sprawling estate, down 20% from a year ago -- $23.5 million. Built in Tuscan style in 2001, the 8,425-square-foot main house features sandstone quarried from the 2.5-acre property, imported French limestone, custom woodwork and molding. Living spaces include a country kitchen with a large center island, a wood-paneled office and a master suite with a viewing terrace for a total of five bedrooms and six bathrooms. Outside, an expansive patio overlooks a large expanse of lawn, formal gardens and a 65-foot-long...

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