Finally, the home connected to singer could be behind her.
Reeling after , in January 2007 for $6.750 million. It was supposed to be a place of solace, but it became ground zero for the paparazzi and Spears’ soon-to-come
In September 2008, Spears decided a new chapter was in order and she listed for $7.9 million.
Four years, six price cuts and a few different brokerages later, Spears’ property finally found a buyer and is listed on Zillow as a pending sale. The current listing price? $4,466,150.
Why did Spears’ home linger on the market so long?
“Unfortunately,” explained , Zillow real estate expert and co-founder of , “she bought it at the top of the market and listed it for so high right after the market crash in 2008 [it was] a bad marketing strategy.”
According to Umansky, the home should have been listed below the price Spears purchased it for, and if potential buyers balked, the listing agent should be able to back up the high price.
“Her [Spears’] celebrity status should be worth some money, ” said Umansky. “Playing that up and marketing the home right may have been able to get the home to sell in the low sixes.”
Built in 2001, the Mediterranean-style villa is located in the high-security, prestigious Summit neighborhood. The 5-bedroom, 6-bath home has an enormous master suite with his-and-her bathrooms and a fireplace.
Although Spears bought the property, the home is being sold under a conservatorship. In 2008, James Spears took over to handle all of his daughter’s legal and financial decisions. , because the home wasn’t selling, there was a scheduled hearing to coordinate a probate sale on the home. However, with the pending offer, it looks like the probate sale won’t be needed.
Currently Spears is living in Thousand Oaks, where she and new fiance Jason Trawick are .
Related:
