'Deb of the Decade' Cornelia Guest Slashes Estate Price

Socialite Cornelia Guest has been having real estate woes the past few years like many home sellers, even if her price point is higher than most -- in the eight figures. Having listed her Old Westbury, N.Y. home, dubbed Templeton, in 2008 for $20 million, the 11-bedroom home with 6 full bathrooms and 2.5 baths has been reduced to $11.9 million, Newsday reports.

In a town that has had many residents from families named Vanderbilt and Whitney, it seems real estate buyers in this neck of the woods are hard to come by.