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Producer Joe Roth's 1930s Santa Monica Home Drops

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Now that 2011 has rolled around, we're watching some of the city's wealthiest homeowners take out their gold-plated PriceChoppers and hack away. Case in point: Producer Joe Roth just dropped the price of his drool-worthy 1930's Santa Monica home. The residence, designed in 1930 by legendary Hollywood art director Cedric Gibbons as a love-nest for Gibbons and his then-wife, silent-film siren Dolores del Rio, hit the market in November for $12.45 million. Roth will now part with it for $10.995 million. Take the whole tour here.