Hot Property | Ellen DeGeneres

Talk show host Ellen DeGeneres is selling her Beverly Hills estate to Ryan Seacrest. (Sibylle Allgaier / Heliphoto)

Cyberspace was a-twitter this week with the news that Ryan Seacrest is buying Ellen DeGeneres' Beverly Hills compound for $37 million, and that she and spouse Portia de Rossi are moving no farther than a Hal Levitt-designed midcentury — also in Beverly Hills.

DeGeneres' new 8,500-square-foot house, built in 1958, features walls of glass, soaring ceilings, multiple fireplaces, a library, a black-and-stainless-steel kitchen, a sunken living room, four bedrooms and six bathrooms. The family room opens to the swimming pool on the less-than-an-acre property, which has a circular driveway.

The property was priced in the $20-million range, according to a website for agent Ben Bacal of Sotheby's. It can take weeks or months for sales prices to appear on the public record.

The Levitt-designed house is quite a downsize from the Emmy-winning daytime show host's 3-acre compound, which includes multiple structures and was formed starting in 2007 through three property purchases on the same street. The 15,000 square feet of interior space include a 9,200-square-foot main house, a secondary house and two guesthouses. The asking price on the compound was $49 million.

Meanwhile, Seacrest's Hollywood Hills West area Mediterranean villa recently returned to the market priced at $11.985 million. The "American Idol" host had tried to sell it in late 2010 for $14.95 million.

The 10,000-square-foot Mediterranean, built in 1974, sits behind wrought-iron gates on nearly an acre of hilltop with canyon and city views. Remodeled during his ownership, the villa features beamed ceilings, a bar, a screening room, a wine cellar and a gym. There are six bedrooms and 61/2 bathrooms. A guesthouse, tennis court, a swimming pool, a cabana and mature trees complete the grounds.

More proof that Hollywood is really just a small town: Seacrest bought the property from two-time Academy Award-winning filmmaker and actor Kevin Costner in 2006 for $11.5 million.

Kurt Rappaport of Westside Estate Agency, Beverly Hills, is the listing agent on the Beverly Hills compound and Seacrest's villa.

Teeing up again in Pacific Palisades

Pro golfer Denis Watson and his wife, attorney Susan Loggans, have taken 24% off the price they were asking a year ago for their Pacific Palisades compound and relisted it for $17.95 million.

The renovated Mediterranean-style estate, built in 1982, includes nine bedrooms, 91/2 bathrooms and 10,000 square feet of living space. The 2.5-acre equestrian property features a guesthouse, a tennis court, a swimming pool, corrals and a stream.

Watson, 56, had three PGA tour wins before joining the Champions Tour when he turned 50. He was voted Rookie of the Year in 2007 and has four tour wins.

Watson and Loggans bought the property in 2004 from power couple Arnold Schwarzenegger and Maria Shriver for $7.95 million, according to public records.

Shauna Walters and Sally Forster Jones of Coldwell Banker's Beverly Hills South office are the listing agents.

Style matters in the Hollywood Hills

Film producer and clothing entrepreneur Brad Zions has sold his house in the Hollywood Hills West area for $7.95 million. Among notables in the home's ownership history is actor Richard Gere.

The gated contemporary features views of the Los Angeles Basin, a two-story entry, a bar, three en suite bedrooms, three additional bathrooms and a home theater. Outside the 4,534-square-foot home is a swimming pool, spa, deck, outdoor living room and kitchen.

Zions founded the L.A.-based production company Breakout Pictures. He also co-founded Young, Fabulous & Broke, a women's contemporary clothing line.

The property previously sold in 2000 for $2.35 million.