For Britney Spears, 2007 was not a good year. Recently divorced from Kevin Federline, or “K-Fed,” Spears was attempting a come-back tour in the midst of a child custody battle, stints in and out of rehab and some heavy media attention after a self-inflicted buzz cut.
It was also in 2007 that Spears was trying to sell a her home — an enormous piece of Malibu real estate that she and Federline purchased for nearly $7 million after marrying in 2004. Shortly after the couple separated in 2006, Spears put the house on the market in January 2007 for $13,500,000.
In March 2007, the listing price on Spears’ home was reduced to $11,999,000. At the same time, Spears began trying to unload another property — this one on the Beverly Hills real estate market. And just like the Malibu property, its original listing price was also reduced.
In August, Spears’ Malibu home finally sold after the pop princess received a cash offer of $10,000,000 from director Stephen Sommers.
Fast forward a few years later and Sommers is looking to make a profit, listing the Serra Retreat pad for $15,950,000. Perhaps the “G.I. Joe” and “The Mummy” director doesn’t realize that despite the high-end area, median Malibu home prices have dropped an average of 14.6 percent year-over-year.
The 9,130-sq ft home sits on a gated 1.53-acre lot at the end of a cul-de-sac in the luxury gated Serra Retreat neighborhood —home to other celebrities like Dick Van Dyke, Kelsey Grammer and James Cameron.
When Spears and Federline purchased their honeymoon home, they renovated the space by adding a recording studio and dance/work-out studio.
The Mediterranean-style home boasts 8 bedrooms and 8 bathrooms as well as a game room and two wine storage areas. The master suite has three walk-in closets, vaulted ceilings and safe room.
Property grounds feature a large pool with covered grotto and toddler wading area, as well as a tennis court, outdoor dining area complete with kitchen and barbecue, air-conditioned child’s playhouse and separate one-bedroom guest house.
The listing is held byChris Cortazzo of Coldwell Banker.
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