After three months on the market, Jessica Simpson has decided to drop the price of her Beverly Hills estate by $700,000, from $7.995 million to $7.295 million. Even with such a significant price drop, she still stands to make money from the sale. Simpson purchased the home in 2005 for $5,275,052. It was the first home she lived in following her divorce from Nick Lachey.
Talk about a bachelorette pad! The home spans 5,500 square feet, and was renovated by famous interior designer Rachel Ashwell of Shabby Chic Couture. It features a gourmet kitchen, giant master bedroom, media room, library, and gym. The backyard is walled and gated, with lush landscaping that keeps it totally private, so Simpson can enjoy the pool.
The home was once owned by Ellen DeGeneres and talent manager Rick Yorn. It’s located next to other celebrity homes, including Keith Urban and Nicole Kidman. “This area of Beverly Hills is dotted with homes owned by celebrities. You can often spot a star walking their dog through the many canyon trails nearby,” said Corina Galen, a Redfin real estate agent in Los Angeles.
Simpson may be antsy to sell this home so she can have the funds to work on her new home, which she purchased from Ozzie and Sharon Osbourne in March. Her new home is located in Hidden Hills, CA, and spans 10,953 square feet, with six bedrooms and six baths, offering plenty of space for her children, Ace and Maxwell, to play. It was decorated by another renowned designer, Martyn Lawrence-Bullard. For photos, check out the June 2011 issue of Architectural Digest. The Osbournes are familiar with selling homes to pop princesses; in 2007 Christina Aguilera purchased the home where “The Osbournes” was filmed. More info and photos on that home are available on the listing.