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Pop star Britney Spears has lowered the price on her Beverly Hills home for the third time.  Zillow reported that Spears originally bought this Italian Renaissance inspired villa in January of 2007 for $7.1 million.

Then, just a year and  half later Spears listed the home for sale in September of 2008 for $7.9 million.  Apparently she was hoping to make a small profit from the sale.

However, with most property values dropping, Spears’ home is no different.  She dropped the price in February of 2009 to $7,195,000 – much closer to her original purchase price.  But even this drop isn’t enough as the house remained on the market, and she dropped the price for a second time to less than what she paid.  On June 2nd, the price went down to $6.5 million, but it still didn’t sell.

Finally, Spears took the house off the market, and itwasn’t until this month that the house is now re-listed for $5,495,000.  So what do you get for over $5 million?

According to Zillow‘s listing, the home is approximately 7,500 square feet with maid’s quarters, library, smoking room/den, formal dining room, and a grand entrance foyer.

There are 6 bedrooms and 6 bathrooms, and the kitchen has Viking appliances, a walk-in pantry, and a large breakfast nook open to the family room.  The home has stone and mosaic tile floors, and elegant iron accents throughout the home.

Naturally the list of features go on and on, but personally – I’m sold on the Viking appliances alone, which generally go for 8-10 times the price of regular appliances.  So if you just won the lottery and need a new home, be sure to check out Britney Spears’ listed home.

(Photos courtesy of Zillow.)

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