Desperate Times: Burt Reynolds Unloading Hobe Sound Digs at $10 Million-Discount!

burt reynolds house sale florida hobe sound

Burt Reynolds' house in Hobe Sound has been on the market for five years! (Click on the photo for a tour)

Hollywood legend Burt Reynolds is squealing for deliverance — from homeownership.

As he faces foreclosure unless he comes up with $1.2 million sometime soon, Reynolds has just discounted his Hobe Sound digs for the sixth time!

burt reynolds house florida for sale

Reynolds, preparing for a movie scene last year (Click on the photo for a tour of his house)

The 12,500-square-foot house, which he put on the market in 2006 for $15 million, is now for sale for $4,995,000, Gossip Extra has learned.

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The five-bedroomer sits on three pristine acres adjacent to a the Jonathan Dickinson State Park and has Intracoastal docking. It’s valued by the Martin County Property Appraiser at about $2.3 million.

The property boasts a two-bedroom guesthouse, a state-of-the-art movie theater with a pop-corn machine and a piano for silent film soundtracks, and an antique-panel office with soothing waterfalls.

Selling agent Rob Kairalla said the new price has sparked a slew of showings as, he said, “the bank’s putting a little bit of pressure on us.”

“All of the sudden, it’s getting busy,” he said.

MLS records show Reynolds’ asking price went from $15 million to $12.9 million in March 2007, $10.5 million 10 months later, then $9.5 million, $8.9 million in 2010 and $5.2 million in October.

Reynolds, the 75-year-old stars of such action classics as Deliverance, The Longest Yard and Smokey And The Bandit, has owned the house since 1980. According to several realtors who’ve visited with clients, it doesn’t appear to have been updated much since. One real estate source described it as reminiscent of Reynold’s porn-producer character’s place in Boogie Nights.

Merrill Lynch filed the foreclosure action in August, alleging that Reynolds in behind on his mortgage payments.

The actor, however, is fighting back. In December, he filed a response claiming that he made payments that weren’t properly credited to his account.

Reynolds, meanwhile, has been looking for a smaller home in the area.

For more:

It’s five o’clock somewhere else: Alan Jackson has Florida mansion up for sale

Ailing Bee Gees’ Robin Gibb puts Miami house up for sale

Celine Dion’s first Florida house back on the market

Country star Alan Jackson decides he’d take less for his small cottage

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