Britney Spears Drops Price of Beverly Hills Villa...Again

Britney Spears Reduces Price of Hollywood Mansion Again
Britney Spears Reduces Price of Hollywood Mansion Again

A little over a month since the singer re-listed her Beverly Hills villa, Britney Spears has lowered the price of her home from $5.5 million to $4.85 million. Spears, who is poised to lose millions on the transaction, first listed the sprawling five-bedroom, six-bathroom mansion for $7.9 million in 2008.

So, why isn't the pop sensation's home benefiting from the prolific media attention and reeling in a deep-pocketed buyer?

According to one high-end real estate expert, it may be quite the opposite.

Broker Christophe Choo of Coldwell Banker Beverly Hills says many buyers in the million-dollar plus range tend to be businessman and professionals, who prefer a private lifestyle over inheriting a formerly celeb-owned, overexposed property.

"When your typical buyers is in the 5, 6, 20 million range, they might not necessarily want to buy a Britney Spears or Brittany Murphy house," he says. "There can be a negative cachet of a property being well-known."

Another reason, Choo adds, is how Spears has played the housing market.