Former britney spears home goes up for auction

The Calabasas, Calif., home most recently inhabited by Britney Spears is coming up for auction next month with a minimum bid of just under $4.5 million. The home originally came on the market for $10.8 million, but most recently asked $7.5 million.

The home is owned by Jose "Pancho" Leon, a builder and founder of a money-order transport company, who says he spent more than $7.7 million building the home. Ms. Spears rented the property from him for two years and, according to Mr. Leon, made several hundred thousand dollars' worth of upgrades to the home. The 10,300-square-foot home has a movie theater, an elevator, wine cellar, two steam rooms and a guest house.

Mr. Leon says he originally intended to live in the home himself, but his wife decided it was too large. "I am definitely taking a loss on this," he says.

Anthony Fitzgerald of Premiere Estates Auction Co. is handling the sale, which will take place at 11:11 a.m. Nov. 11. 

Source: WSJ.com