4 Years and 6 Price Cuts Later, Britney Spears’ Home Sells - 13abc.com Toledo (OH) News, Weather and Sports

4 Years and 6 Price Cuts Later, Britney Spears’ Home Sells

Posted: Updated:

Finally, the home connected to singer Britney Spears' worst moments in 2007 could be behind her.

Reeling after her divorce in 2006, Spears bought herself a Studio City home 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 tumultuous, headline-grabbing year.

In September 2008, Spears decided a new chapter was in order and she listed her Summit Circle home for sale 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 Mauricio Umansky, Zillow real estate expert and co-founder of The Agency, "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. According to Forbes, 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 renting a 10,000-square-foot property.

Latest Mortgage RatesCurrentLast Week30 Year Fixed15 Year Fixed5/1 ARM
Mortgage CalculatorAffordability Calculator
Refinance LoansFHA Loans
Loan ModificationsHome Equity Loans

Mortgages, Home Loans, and Mortgage Quotes at Zillow Mortgage MarketplaceSee local rates
  • Real Estate NewsMore>>

  • Three design dilemmas solved

    Three design dilemmas solved

    Tuesday, June 26 2012 9:00 PM EDT2012-06-27 01:00:19 GMT
    Home design can be intimidating. From finding furniture for an oddly-shaped room to keeping a space somewhat kid-friendly, there are always design challenges. Today, with some help from our friends at
    Home design can be intimidating. From finding furniture for an oddly-shaped room to keeping a space somewhat kid-friendly, there are always design challenges. Today, with some help from our friends at west elm, we're tackling three of the most common design dilemmas in the home.
  • Vacation rentals: any profits?

    Vacation rentals: any profits?

    Tuesday, June 26 2012 8:48 PM EDT2012-06-27 00:48:50 GMT
    Borrowing from the boat owners' passel of proclamations, may I suggest: "The best two days of a vacation rental owner's life are the day he buys it and the day he sells it…" Those who live near the shore
    Those who live near the shore often hear rumors about the piles of money that vacation rentals bring in. "The summer months' rental income pays for the entire year's mortgage," folks will say. That may be true, but what about the rest of the expenses?
  • Amazing Tennis Homes for Sale

    Amazing Tennis Homes for Sale

    Tuesday, June 26 2012 8:41 PM EDT2012-06-27 00:41:16 GMT
    We're in the heart of the Grand Slam season, with the French Open wrapped up, Wimbledon on deck and the U.S. Open action for late summer. With the world's greatest players testing themselves on three
    While most people are confined to playing in public parks or at tennis clubs, some people are lucky enough to own homes equipped with private courts. In honor of the Grand Slam season, we're serving up some of these spectacular tennis court-sporting homes