Teresa & Joe Giudice -- Fire Sale for New Jersey Mansion

Teresa and Joe Giudice just DRASTICALLY reduced the asking price for their New Jersey mansion, because they MUST move out stat for cheaper digs.

The convicted couple just slashed half a mil off the asking price. But the situation is more dire than it seems. They had initially listed the house for $3.99 million, but there were no takers, so in November they lowered the price by $500,000. Still no takers.

The latest cut brings the asking price to a relatively reasonable $2.99 mil. Their realtor believes that should do the trick.

Teresa and Joe are cash strapped after their conviction and they want to radically downsize.