Jessica Simpson Slashes Asking Price of Beverly Hills Home by $700,000

Jessica Simpson, who listed her Beverly Hills home for sale in May for an asking price of $8 million, has now slashed the price by $700,000.

The 5,500 square feet house has 5 bedrooms and 6 and a half bathrooms. It includes a drawing room, a dining room, a breakfast room, a family room, a study, a library and a dressing home. The house also boasts of a theater and a music room along with a gym. The exteriors include a pool and a heated spa.

Reportedly, Simpsons purchased the house for $5.2 million from celebrity manager, Rick Yorn in 2005. The house was built in 1991 and designed by award-winning L.A. designer Kerry Joyce.

The listing reads:

"Designed custom-built home is evocative of the Hamptons and is located in one of the most private guarded celebrity enclaves. Recent interior design and renovations by Rachel Ashwell Shabby Chic Couture. The restaurant-style gourmet kitchen leads to breakfast room then out to the stone courtyard. The media/family room opens out to the serene and secure lushly landscaped park-like grounds and swimming pool. There is an office/library, and gym. The master suite has a sitting area with French doors that open to a large deck with view of the grounds."

Simpson recently bought Ozzy and Sharon Osbourne's 11,000-square-foot Hidden Hills home to make room for her second baby. She purchased the property in March for $11.5 million.

The singer, 32, is still trying to lose weight after giving birth to her second child and was recently spotted wearing an oversized printed kaftan to hide her post-baby fat.

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