John Mayer selling apartment at a loss

John Mayer has put his Los Angeles home up for sale, with an asking price of $1.3 million.

The 'Gravity' singer will take a loss on the apartment as he bought the property in the upscale Pacific Palisades area of the city for a reported $1.75 million in 2006.

According to sources the four-bedroom apartment is "perfectly suited" to the 33-year-old star's bachelor persona, and comes complete with "classy furniture, cozy fireplaces, purple velvet curtains and a disco ball".

Though John is selling the property at a loss, he doesn't appear to be suffering any financial difficulties.

Last week, he was reported to have leased an $8 million Mediterranean mansion with seven bedrooms and nine bathrooms and includes a state-of-the-art recording studio, just outside of Los Angeles.

He also has a $2.1 million home in New York's SoHo area which he bought in 2005, which counts supermodel Tyra Banks as a neighbour.

John is not the only star to be selling one of his homes for a loss.

Alicia Keys has just reduced the asking price of her New York mansion in the rural area of Syosset from $3.5 million to $2.99 million, after she hasn't been able to find a buyer since it went on the housing market in June.

Alicia is selling the house as she has moved into the $24 million penthouse in central New York owned by her husband Swizz Beatz, with who she has two-month-old son Egypt.

Singer Sheryl Crow recently failed to sell her Tennessee Cross Creek Farm estate, despite dropping the asking price dramatically from its original $7.5million.

She had put the property up for online auction, but on the last day of bidding the highest pledge stood at just $1.125 million and at the close of the sale the reserve was not met.