Actor Tim Allen has bought a new ranch-style house in Hollywood Hills West for $1.4 million. The 2,604-square-foot house was built in 1963 and features three bedrooms and three bathrooms. [Los Angeles Times]

Leonardo DiCaprio has listed an oceanfront rental property in Malibu for $23 million. The property is comprised of a main house and two guest houses and has a total of seven bedrooms. The compound had been listed as a rental for $75,000 a month for a long-term lease and $150,000 a month for a short-term lease. [Los Angeles Times]

This is 40 actor Albert Brooks has sold the Sherman Oaks estate that once belonged to game show creator Merv Griffin for $6.275 million. The 5,100-sqaure-foot house includes a tennis court, an infinity pool and four bedrooms. [Los Angeles Times]

Actress Sharon Stone’s Beverly Crest house has sold for $6.575 million. The Mediterranean-style abode built in 1991 sits on five acres and features a library, wet bar and a guest house. [Los Angeles Times]

Jessica Simpson’s parents, Tina and Joe Simpson, have cut the listing price on their Encino, Calif., house by $400,000. The property covering 1.5 acres was first listed in early October. It’s now down to $3.995 million. [Zillow]

The house featured as Rayna James’ mansion on ABC’s new fall show Nashville is up for sale for $19.5 million. Many scenes from the show were filmed in the 20,500-square-foot Tennessee mansion featuring 24 rooms. [Curbed National]