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.
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.
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?
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
Tuesday, June 26 2012 8:36 PM EDT2012-06-27 00:36:44 GMT
Actress Gwyneth Paltrow and rocker husband Chris Martin of Coldplay, are long time East Coast residents, preferring penthouses in Manhattan and a large estate in the Hamptons for their home base.
Actress Gwyneth Paltrow and rocker husband Chris Martin of Coldplay, are long time East Coast residents, but they recently purchased a Brentwood, California.
Tuesday, June 26 2012 8:29 PM EDT2012-06-27 00:29:47 GMT
Reality TV couple Giuliana and Bill Rancic don't own the house that's featured on their show "Giuliana & Bill." In fact, the homes they own are primarily in Chicago, reports The Real Estalker. But for
Home featured on reality TV show "Giuliana and Bill" for sale for $2.395 million.
Monday, June 18 2012 10:15 PM EDT2012-06-19 02:15:30 GMT
Rather than deal with the prospect of selling a home, comedic actor Martin Lawrence is taking the landlord route, listing his home for rent for an astounding $200,000 a month. Lawrence's massive Beverly
Rather than deal with the prospect of selling a home, comedic actor Martin Lawrence is taking the landlord route, listing his home for rent for an astounding $200,000 a month.
Monday, June 18 2012 10:13 PM EDT2012-06-19 02:13:30 GMT
Whether escaping from a saber-toothed tiger or a bad day at the office, men have sought safety in their caves. It's been one constant through the ages. In honor of Father's Day, we've gone in search
Whether escaping from a saber-toothed tiger or a bad day at the office, men have sought safety in their caves. It's been one constant through the ages.
Monday, June 18 2012 10:12 PM EDT2012-06-19 02:12:05 GMT
Jim Carrey's Malibu home recently hit the market for $13.95 million. Situated in the Malibu Colony, the contemporary home features all the necessary amenities for entertaining: an expansive deck with
Jim Carrey's Malibu home recently hit the market for $13.95 million. Situated in the Malibu Colony, the contemporary home features all the necessary amenities for entertaining: an expansive deck with removable walls, master suite balcony, and rooftop deck with hot tub and mood lighting. Likely, the funnyman hosted some of his nearby celebrity neighbors here.
Monday, June 18 2012 10:09 PM EDT2012-06-19 02:09:51 GMT
The buyer of a historic Victorian home in upstate New York fell in love with the gigantic antique mirror in the foyer. The mirror looked as if it were made for the space; it fit perfectly on the wall,
The buyer of a historic Victorian home in upstate New York fell in love with the gigantic antique mirror in the foyer. The mirror looked as if it were made for the space; it fit perfectly on the wall, and the frame matched the surrounding woodwork. In fact, the mirror was so large, the buyer said she "couldn't imagine it going anywhere."
Sunday, June 10 2012 9:46 PM EDT2012-06-11 01:46:43 GMT
Born-and-raised New Yorker Claire Danes may be considered a Hollywood star, but she chooses to live in her childhood neighborhood of SoHo rather than Los Angeles.And although Danes and her husband Hugh
Born-and-raised New Yorker Claire Danes may be considered a Hollywood star, but she chooses to live in her childhood neighborhood of SoHo rather than Los Angeles.
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