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The Value Of Plummeting Celebrity

August 6, 2007

Britney Spears’ Homes Didn’t Sell Well

August 6, 2007

Britney Spears had two California homes she owns/lived in on the market for quite a while with no takers, which will be the case with her new album as well.

One of the properties has finally been sold, way below asking price. She also had a property on the market in New York for a long time with no buyers either, until she drastically dropped the price. At the height of her fame, she did not have these problems, easily unloading properties, even when they were overpriced.

Anytime a celebrity can’t sell their reasonably priced home, it testifies to their fading status. Celebrity homes usually sell faster, not at snail pace.

Britney’s mansion sold for peanuts

Britney Spears has sold off her Malibu mansion to an unknown buyer (AP Photo)

Washington: Britney Spears has reportedly sold off her Malibu mansion for less than USD 12 million to an anonymous buyer.

According to a source the singer bought the seven-bedroom mansion with Kevin Federline and now that it has been sold, she will be able to give K-Fed his share.

“They were just waiting on the sale of the house. Now Kevin gets his money,” said a friend.

The mansion which is on a 1.53-acre hilltop site in the gated Serra Retreat area of Malibu was first put up in the market on November for 13.5 million dollars, but the price was lowered in March when no buyer came.

Meanwhile, the singer’s six-bedroom house in Beverly Hills, LA is on the market for less than 7.5 million dollars and she is currently residing at the Four Seasons Hotel in Beverly Hills.

A source revealed that the ‘mystery man’ who was has been seen with the troubled star in several LA cubs is real estate agent Justin Mandile whose dad Drew’s firm sold her Malibu house.

http://timesofindia.indiatimes.com/Entertainment

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