Belmont's low-ball offer may not be entirely related to Diddy's legal woes. Luxury real estate in Los Angeles is currently experiencing a major slump, Beverly Hills agent Rochelle Atlas Maize told BI.

This 44-year-old house has a unique design on a quarter-acre lot on the banks of the Elbow River, just east of the Glenmore Dam. There were a few visitors last fall, but no serious offers ...