Price Break for CEO's home

Summers and residential real estate are hot in Naples.

But they're much cooler in Colorado. Just ask Arthur Allen, the CEO of Naples-based ASG Software Solutions.

According to the Wall Street Journal, Allen slashed the asking price for his 12,768-square-foot home on 32 acres near Denver by 45% to $9.95 million from a lofty $18 million.

Besides the views of the Continental Divide, the home has an indoor half-court basketball court, a six-stall stable with heated tack room and a wine cellar.

Allen bought the Evergreen, Colo., property in 2005 from former Colorado Rockies pitcher Mike Hampton for $3.1 million, gutted it and spent $13 million on renovations, the newspaper quoted real estate broker Tommy Latousek of Joshua & Co. in Aspen.

Latousek told the Journal Allen is selling the property because he doesn't use it as often as he used to. We bet the new price and the publicity will rustle up a buyer.