After more than a year on the market, actress Reese Witherspoon has sold her Ojai, Calif. home at a $816,500 loss, according to real estate blogger The Real Estalker.
Witherspoon listed the ranch in Sept. 2012 for $10 million, just weeks after it appeared on the cover of Elle Decor.
She later dropped the price to $5.9 million, but the still-unknown buyer bought it for just $4,983,500, according to The Real Estalker.
That's far less than the $5.8 million Witherspoon paid for the home when she bought it in 2008 from designer Kathryn Ireland, according to The Hollywood Reporter. The home has nine bedrooms and seven bathrooms.
Meredith Galante contributed to this post.
Welcome to Libbey Ranch. The home was built in 1923.
The ranch is Mediterranean-style, designed by the famed Wallace Neff.
Actor/director Harold Ramis of "Ghostbusters" owned the home before Ireland and Witherspoon, respectively.
The house has also been featured in "Vogue" and "House Beautiful."
The kitchen has all modern appliances, and a huge double-fridge.
The main house has four bedrooms.
The bathrooms are lovely.
Plenty of room for outdoor entertaining.
The pool is in between the main home and the guest cottages.
The property is considered an equestrian estate.
Jay Griffith, a well-known Venice-based landscape architect, redesigned the grounds surrounding the property.
The house sits on roughly seven acres.
There's a wrap-around balcony on the main home.
One last look at the peaceful gardens.
Read more: http://www.businessinsider.com/reese-witherspoon-sells-home-at-loss-2013-12?op=1#ixzz2ohN9zQ5U
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