A five-bedroom house in Los Angeles' Bel-Air area that Farrah Fawcett and Ryan O'Neal once owned underwent a major price cut on January 7 (one of the largest one-time reductions that we've seen), with the current owner slashing its asking price from $9,500,000 to $6,995,000.


In a Big Time Listings exclusive, we can report on the reduced asking price for the 9,951-square-foot house at 3130 Antelo Road in Bel-Air, which we exclusively wrote about back on August 21.

The reduced asking price is the latest in a long line of price cuts of celebrity-owned (or formerly celebrity-owned) and/or high-profile houses in southern California. The various price reductions are happening so often that it's hard to keep up with them all. Let's walk through a few of them, before touching on the former Fawcett/O'Neal house on Antelo Road:

--As the Real Estalker noted today, popwreck Britney Spears has reduced the asking price for her longtime, 7,453-square-foot house at 12094 Summit Circle in the gated Summit neighborhood in the Beverly Hills mailing area to $7,195,000; the house has been on and off the market for almost the entire time that Britney has owned it, with its asking price bouncing around from $7,495,000 to $7,900,000 to its current asking price.

--Christina Aguilera, as Your Mama noted back in November, has reduced the asking price for her five-bedroom, 5,411-square-foot (or 6,500-square-foot, according to listing information) house at 1443 Devlin Drive in Los Angeles' Hollywood Hills from $7,995,000 to $6,995,000; we wrote about that listing originally on June 23.

--In a sign of just how dynamic the times really are, actor Vondie Curtis-Hall and his wife, actress and director Kasi Lemmons, have just cut the asking price *again* of their 3,188-square-foot house in Los Angeles' Hollywood Hills. We wrote about the house on New Year's Day, noting that it had dropped from its original asking price of $3,595,000 last year all the way down to $2,669,000. Since our post, the couple dropped the asking price even more, as the Los Angeles Times' Ann Brenoff exclusively reported the other day, to its current $2,295,000. The couple sounds *really* motivated to sell this house.

--And as the Real Estalker noted today, developer John Bersci has taken a razor to his asking price for his seven-bedroom mansion on Benedict Canyon Drive in Beverly Hills from $11,495,000 in September to its current $8,995,000. We haven't written about this 7,256-square-foot house before, but listing information is right to call it a "trophy property." Built in 1922 and featuring hand-carved wood paneling, a conservatory and a wine cellar, the house was designed by Elmer Grey and is known as the Harvey Mudd estate. Bersci purchased the house and nearly 1-acre (43,116-square-foot) parcel in 2004 from "Cast Away" and "Matchstick Men" producer Jack Rapke for an undisclosed price, according to public records (and don't bother checking Zillow; it's not in there).

OK, back to the former Fawcett/O'Neal house on Antelo Road. The current owner purchased the property from Fawcett in 1999 for an undisclosed price, according to public records. The Los Angeles Times' Ruth Ryon, however, reported in a story on September 5, 1999 that that amount was nearly $2.7 million.

Built in 1950, the house has been entirely redone, with two en suite master bedrooms, six full baths, two powder rooms, a gourmet kitchen, an Aspen-style family room and a racquetball court, according to public records and listing information. Outdoor features on the 2.86-acre property include 360-degree views of the entire city and beyond, grassy lawns and a swimmers pool, according to public records and listing information. The house has been "eight years in the making," according to past listing information, or nearly the entire time the property has been owned by its current owner. Fawcett had owned the property since buying it in 1976 with her then-husband, Lee Majors. She continued to own it with O'Neal, whom she never actually married, but whom she has been in a largely steady relationship with since 1982. The estate's current owner is a longtime recording studio owner.

The house and 2.86-acre estate are right next door to another property that Fawcett also had owned until 1999 — and, that we wrote about last winter. That property, on 2.41 acres at 15220 Antelo Place, sold in January 2008 to a doctor for $3,608,000, according to public records.

Check out an online listing sheet for the former Fawcett/O'Neal house on Antelo Road -- complete with photos.

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