Reese Witherspoon Reduces Ojai Estate By Another $1.3 Million

    Posted by Cristin  |  October 14, 2013  |  7:48 am  |  Tags: , , , , , , , , , ,

    Wikipedia

    Reese Witherspoon

    Ojai, CA

    Most Known For

    Winning Academy Award for Best Actress for Walk the Line and starring in all Legally Blonde films

    Home Stats

    9-bedroom, 6.5 bath, 7-acre property

    Price

    $5,900,000

    Reese Witherspoon may be one of America’s most beloved actresses, but she’s not feeling the love in the real estate game. After a year on the market and numerous price reductions, she just reduced the price of her rustic-style Ojai, CA retreat by another $1.3 million, bringing the new asking price to $5.9 million.  The new price is much, much lower than the $10 million she was originally asking for the estate.

    While pregnant with her third child, the retreat made headlines when Witherspoon and this Ojai home appeared on the cover and in a full length spread in the September 2012 issue of Elle Décor. That month, it officially came on the market with a $10 million dollar price tag and a splashy feature story in The Hollywood Reporter.

    The home first made headlines in March 2011, when Witherspoon married second husband Jim Toth in front of a group of A-list guests on the grounds of the estate. Months later, rumors swirled that Witherspoon offered the Ojai home to her Water For Elephants co-star Robert Pattinson as an escape from the media during his ex-girlfriend Kristin Stewart’s affair scandal.

    While this country retreat has gotten all the media exposure one would think it would need to sell, Witherspoon is still struggling to find a buyer. After numerous price chops, Reese is now asking just $100,000 more than the $5.8 million she paid when she purchased the property from prominent interior designer Kathryn Ireland in 2008.

    Since then, Witherspoon has renovated the space, clearly adding tremendous value, but she won’t get much more than she originally paid and will likely lose money on the deal.

    Built in 1923 and hidden away in the Ojai Valley hills, the vacation retreat was originally designed by architect Wallace Neff as a barn, later turned to an actual home in the 1940’s by architect Austen Pierpoint. The Spanish architecture gives the home tons of personality and allows for a true getaway. The rustic, century-old designs comes alive with the stone-lined hallways and wood beamed ceilings. A cool and relaxing ambiance surrounds the space as natural light graces each room and views of the hills can be seen throughout. In the recent issue of Elle Decor, Witherspoon nicknamed the home “Libbey Ranch” and describes it as “meditative and restorative,” like “having a little bit of Tennessee in California.”

    With four bedrooms and three and a half baths, the 5,000 square foot main home seems minuscule on the seven-acre property, yet horse stables, three guest cottages, a carriage house and swimming pool take up the remainder of the land - perfect for a large family to relax and escape to a quiet, country vacation.

    Gregg Leach of Village Properties now has the listing.

      Robert Pattinson Seeking New Hideout as Reese Witherspoon Lists $10 Million Ojai Retreat

      Posted by Vanessa  |  September 18, 2012  |  9:06 pm  |  Tags: , , , , , , , , ,

      2012 Getty Images - Andreas Rentz

      Reese Witherspoon

      Ojai, CA

      Most Known For

      Winning Academy Award for Best Actress for Walk the Line and starring in all Legally Blonde films

      Home Stats

      9-bedroom, 6.5 bath, 7-acre property

      Price

      $10,000,000

      Reese Witherspoon is letting go of her Tennessee-style Ojai, CA estate for a cool $10 million, reports The Hollywood Reporter in an exclusive interview with listing agent Billy Rose. Pregnant with her third child, Witherspoon is expanding her family, yet unloading a fabulous piece of real estate – one that’s been brilliantly marketed in recent months by the Legally Blonde star.

      The home made headlines in March of last year as it was the wedding destination for Witherspoon’s marriage to second husband Jim Toth. If you’ve been keeping up with your Twilight drama, you’ve read rumors that Witherspoon offered the Ojai home to her Water For Elephants co-star Robert Pattinson as an escape from the media during his ex-girlfriend Kristin Stewart’s affair scandal. Pattinson is now left to face Hollywood as he can no longer find future refuge in the Ojai hills. The retreat recently made headlines yet again as Witherspoon stands alongside her home on the cover and in a full length spread of this month’s issue of Elle Décor on newsstands now.

      Although we think this marvelous country retreat doesn’t need much media exposure to sell, Witherspoon may be seeking a new buyer in hopes of catching someone’s eye in the same way as it did hers. In 2008, Reese swooped the property from prominent interior designer Kathryn Ireland for $5.8 million after it was featured in House Beautiful. Since then, Witherspoon has renovated the space, clearly adding tremendous value, as she’s selling for about twice as much as she originally paid.

      Built in 1923 and hidden away in the Ojai Valley hills, the vacation retreat was originally designed by architect Wallace Neff as a barn, later turned to an actual home in the 1940’s by architect Austen Pierpoint. The Spanish architecture gives the home tons of personality and allows for a true getaway. The rustic, century-old designs comes alive with the stone-lined hallways and wood beamed ceilings. A cool and relaxing ambiance surrounds the space as natural light graces each room and views of the hills can be seen throughout. In the recent issue of Elle Decor, Witherspoon nicknamed the home “Libbey Ranch” and describes it as “meditative and restorative,” like “having a little bit of Tennessee in California.”

      With four bedrooms and three and a half bath, the 5,000 square foot main home seems minuscule on the seven-acre property, yet horse stables, three guest cottages, a carriage house and swimming pool take up the remainder of the land - perfect for a large family to relax and escape to a quiet, country vacation.

      Billy Rose of The Agency has the listing.