From the outside looking in, the Ojai Valley ranch owned by actress Reese Witherspoon appeared to be worth every penny of its $10 million price tag when she put it on the market in September 2012. With its celebrity owner, a Hollywood reputation, and architectural pedigree, many expected the star to easily secure a buyer. However, this real estate tale didn’t have a happy ending for the winsome Witherspoon.
Witherspoon has reportedly parted ways with the dreamy retreat on the outskirts of Ventura County, but it meant taking a loss to ultimately get the deal done. The “Legally Blonde” actress has sold the home for approximately $4.98 million, reports the Real Estalker – that’s less than half of her original ask and nearly $1 million less than what she paid for the property back in March 2008.
Hidden away in the hills, the ranch estate – known as the Libbey Ranch – was designed by none other than celebrated architect Wallace Neff in 1923. Retaining much of its original rustic charm, the home sports century-old hardware, vaulted beam ceilings made of reclaimed wood, and original stone-lined hallways and fireplaces.
Inside, the 5,000-square-foot property offers a total of four bedrooms and four baths, along with sunlit spaces such as a country kitchen, a large dining area and a library loft with its own fireplace. Also found on the seven-acre lot is a pool and spa, various horse facilities, and three guest cottages.
Prior to hitting the market in 2012, the property made headlines after “Twilight” star Robert Pattinson chose it as the perfect place to mend his broken heart following a much-publicized breakup from Kristen Stewart.
Shortly thereafter, Pattinson made his way back to the Hollywood lights and Witherspoon posted the home for a cool $10 million. The home received a $2.75 million price chop in May and another $1.35 million adjustment in September.
[Editor's note: The Ojai ranch currently lists as "Pending Sale" on realtor.com. However, data from the MLS reflects the reported sold price.]
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