Britney Spears, who is currently in talks to become the newest judge on Simon Cowell's The X Factor, has re-listed her Mediterranean-styled Beverly Hills mansion for $2.995 million.

Britney Spears' Beverly Hills home is currently back on the market for just $2.995 million, a huge drop from the $6.75 million she paid back in 2007. In September 2008, Spears had the house on the market for $7.9 million; in February 2009 she dropped the price to $7.195 million; in June 2009 she dropped the price again to $6.5 million; and in March 2010 she dropped the price to $5.495 million, according to Zillow. The 7,453-square foot mansion located just off Mulholland Drive was where Spears infamously suffered her January 2008 mental breakdown and was carted off by an ambulance.

The stunning home is located in the fancy Summit community, reported Realtor.com. The listing is present by Nancy Sanborn of Prudential California Realty. It features five bedrooms, six bathrooms, au pair quarters, a chef's kitchen with Viking appliances, a master suite with his and hers baths, a meticulously manicured backyard, a swimming pool and a spacious patio. The two-story Mediterranean design comes complete with marble, hardwood floors and hand painted detailing.

The X Factor contender has most recently been linked to a 19,100-square foot rental mansion in Thousand Oaks, Calif. The big, beige stone and stucco mcmansion overlooks one of the fairways in the chic golf community of Sherwood Country Club Estates, reported Realtor.com.  

The 30-year-old got engaged to boyfriend Jason Trawick, 40, in December. She and Trawick will start their life together with Spears' sons Sean Preston, 6, and Jayden James, 5.

This is something they've both wanted for a long time, a source told Us Weekly at the time. It's a way to cement their family. They're both extremely happy and can't wait to become man and wife. Though Britney Spears did not announce any official wedding date, she did flaunt her engagement ring to fans.

Spears is currently in talks with Simon Cowell to be the next judge on his singing competition show The X Factor next season. Former judges Paula Abdul and Nicole Scherzinger were let go. She was reportedly offered a $10-million deal, but is supposedly hoping for $16 million.  

Check out the photos of Britney Spears' Beverly Hills mansion.