‘Tis the season for price cuts. With summer ending, the official home shopping season is coming to a close, and some sellers are doing what they can to dump their homes. Just recently Jodie Foster slashed the price on her estate, Jessica Simpson lowered the ask on her home by $700,000 and Drew Barrymore seems to be following suit, dropping the price on her Montecito home by 8 percent to $6.9 million from her original price of $7.5 million.
Even with a price cut, Barrymore’s home is still going to have a hefty mortgage payment. According to Zillow’s mortgage calculator, a monthly payment on her home would be $27,867, assuming a 20 percent down payment on a 30-year mortgage.
Barrymore bought the home not long ago — in 2010 for $5.7 million — and later it served as the setting for her private wedding to Will Kopelman. The Santa Barbara home is nestled at the end of a long gravel driveway on a secluded 2 acres, which include a grove of fruit trees. The house measures 6,000 square feet with 6 bedrooms and has an additional 1-bedroom guesthouse.
The star also has another home in Southern California, a house she bought in 2002. Koppelman, however, is from New York, so the two may be spending time at a place there.
Suzanne Perkins of Sotheby’s International Realty is the listing agent.
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