05/05/2011 11:49 am ET Updated Jul 05, 2011

Penelope Cruz Reduces Price Of Her Hollywood Hills Home To $3.15 Million

Via Zillow:

Academy Award-winning actress Penelope Cruz put this 3,334 square foot Hollywood Hills home on the market over 100 days ago for $3.695 million. Recently though, the three bedroom, four bathroom celebrity pad was reduced to $3.15 million. The one-story home sits on a cul-de-sac above the Sunset Strip and overlooks the city. Inside, the home features details bamboo floors, carved wood doors leading to a courtyard with a fountain, and walls of french doors. Outside, there is a pool with a tented cabana.

Zillow reports that "Cruz purchased the home in 2005 for $3,138,030," speculating, "her newly expanded family may be the catalyst for the Spanish star to sell." Cruz shared in the house with husband, actor Javier Bardem, and their four month old baby boy, Leo Encinas Bardem. Cruz is perhaps best known for her performances in movies like Vicky Cristina Barcelona and Blow. To see the celebrity couple's home, check out photos below and tell us what you think.

Photos courtesy of Zillow