Britney Spears Having Trouble Selling Malibu Mansion
MALIBU, Calif., Apr 6, 2007 - Singer Britney Spears is having trouble selling her Malibu, Calif., mansion — so much so that she’s dropped the asking price by $1.6 million.
Spears put the seven-bedroom, 1.53-acre estate on the market in January for $13.5 million but there were no takers, People magazine reported. She dropped the price to $11.9 million in March and real estate sources say the property remains available.
Spears bought the 9,000-square-foot home in October 2004 after marrying Kevin Federline. The two signed divorce papers recently.
The property, for which the singer reportedly dropped $6.9 million, includes a garden, pool with spa, tennis court and gym — and may have priced itself out of the market momentarily, said Kurt Rappaport, president of Westside Real Estate Agency.
“The pricing was aggressive,” Rappaport said. “It’s an expensive piece of property and sophisticated buyers are looking for the best price.”
