Denise Richards Cuts Asking Price of Hidden Hills Home By A Million

Denise Richards is taking extreme action in trying to unload her Hidden Hills home ... she's slashed the asking price by almost $1.3 MILLION.

Richards put the home on the market for $7.29 million over a year ago, but no takers. The ranch-style 6 bedroom, 8 bath home is still for sale ... for the reduced price of $5.995 mil.

The 8,200 square foot home has been extensively remodeled. It's also got some unique features ... a lagoon pool with a waterfall and a grotto, a pizza oven, wine cellar with tasting room and custom-built dog kennel/hotel for dog lovers.