The extravagant estate, formerly owned by actress Sela Ward, covers eight acres and includes a manmade swimming pond and an outdoor amphitheater. Lopez got a nice discount too; the original asking price was almost $40 million.
Built for the heir to the Singer sewing machine fortune, this Spanish-style estate, which holds 10 bedrooms, 11 bathrooms, a fruit orchard, and spa, was later neglected. It's been spruced up by a development firm, but still needs some polishing.
Real estate agents trying to lure big time buyers are hoping works by artists like Picasso and Warhol will help do the trick. More and more open houses in the more expensive parts of town feature original artwork on loan from galleries.