Kimora Lee Simmons Home, Estate of the Day

Model, designer and professional diva, Kimora Lee Simmons has put her home in the Beverly Hills Post Office area on the market less than a year after buying it. Last June, the former wife of rap mogul Russell Simmons paid the $5.9 million asking price on the home. The "country English" style home has five bedrooms and a casually luxe feel even if the exterior is a bit blah (it was built in 1974). The overall style is tasteful if a bit heavy on the rattan furniture. I also appreciate Ms. Simmons's taste in paintings, she appears to have a couple of Basquiats tucked in there.

Ms. Simmons also has Jessica Simpson as a next-door neighbor. Will Kimora get her $7.75 million asking price? It's a cheeky move in this market but as the Real Estalker notes, properties in this area do move pretty quickly. She may have better luck with this one than the one in Saddle River, New Jersey that she and her ex-husband have been trying to move for a while now. it was listed at $23.888 million but now sits at $19.888 million.

UPDATE: This home remains on the market at $5.9 million but the New Jersey home is no longer on the market.

UPDATE 2: This home has been pulled off the market and the New Jersey home is on the market again for $16.5 million.