Britney Spears suffers $1.7m loss from sale of Calabasas home

Britney Spears suffered a $1.7 million loss from the sale of her Calabasas, California mansion that she initially purchased for $11.8 million a day after she married Sam Asghari on June 9, 2022.

The 41-year-old had reportedly hoped to fetch an extra $1.9 million from the property when she listed it with Bryce Pennel at Compass for $12 million. The 11,650-square-foot property sits on 1.6 acres of land and was built in 2008.

The home would have brought Pears closer to her children as it is in the same neighbourhood where her ex-husband Kevin Federline lives with their two teenage sons Sean Preston and Jayden James.

However, the "Stronger" singer lost $1.7 million instead when she quietly sold it for $10.1 million on March 1 to Ezekiel Tyson Jr., a personal injury attorney and real estate investor from Dallas, Texas.

The sale of Spears' Calabasas home comes at a time of declining home prices when mortgage rates are once again rising in a bid to combat inflation. It was done quickly and paid all in cash, according to Pennel.

He told Fox News Digital, "Our primary goal in the sale of the home was to do it as quickly and as painlessly as possible. Historically homes in this neighborhood sit on the market for over a year and go through several price reductions before selling."

He added, "I sourced a buyer in under 7 days and negotiated a non-contingent all-cash offer that closed in 3 business days. It was discussed and mutually agreed upon that we would rather take the slam-dunk than risk selling even lower one year from now, after months of accrued carrying costs and expenses."

Spears' Calabasas mansion has a 10-seat movie theatre, a master bedroom with a fireplace, a wine cellar, an exercise studio, and a wood-panelled office. Outside there is an outdoor seating area, a custom-made barbecue pavilion, and a 55-foot pool built with a waterslide in addition to waterfalls. There is also a one-bedroom guest house with its own kitchen elsewhere on the grounds.

She bought the mansion following the end of her 13-year conservatorship in November 2021, in which her own father Jamie Spears, had been in control of her personal and financial decisions.

She and Asghari had reportedly hoped to start their new life at the massive seven-bedroom home but according to the New York Post, she had found the mansion too exposed to her liking. Spears now lives at her other home in Thousand Oaks, located about 14 minutes down highway 101. She has lived in the city since 2015 when she bought a five-bedroom, seven-bath mansion for $7.4 million.

The pop star has not personally spoken about why she decided to buy the property only to sell it just eight months later. But Asghari addressed questions about their decision to move back to their "old house" in an Instagram Story posted back in December 2022. He said, "It was hard for us to adjust. It took us that change yo (sic) realise and appreciate what we already had."

The sale of Spears' Calabasas mansion comes amid a stressful time in the singer's life. She has been battling negative headlines pertaining to the alleged decline of her mental health following the end of her conservatorship. Netizens have expressed their concerns over the state of her mental health especially after she started sharing her nude photos online.

Other concerned fans even called the police to do a welfare check on her. Spears continually shuts down claims that she is mentally unstable on her Instagram feed, where she posts videos of herself dancing at home. The quick sale of her Calabasas mansion also comes amid rumours that she and Asghari are having marital problems because of her erratic behaviour, although they have yet to address these claims.