Tom Hanks relists Pacific Palisades home at reduced price

Tom Hanks and his wife Rita Wilson have once again listed their Pacific Palisades home.

The Los Angeles Times reports that this time, the couple has adjusted the asking price to $4,999,000 million, down from $5,225,000 last year.

Built in 1929, this Spanish-style mansion, which sits on a 13,000-square-foot lot, offers an old Hollywood environment with frescoed ceilings, archways and large windows. The home is spread over 6,289 square feet and includes four bedrooms and six bathrooms, a library, a beauty salon, a sun room and a bar.

The master suite is the main attraction of this two-story building, with its private bath, a fireplace and a spacious terrace with views of the ocean.

The living room, meanwhile, leads to gardens and a loggia.

According to the Huffington Post, Hanks acquired the residence for $1.9 million in 1988 - the same year he married Wilson and his classic film "Big" was released. The couple first put the home on the market for $5.45 million in 2012.

The Los Angeles property is listed with Mary Lu Tuthill and Kathleen Tuthill of Coldwell Banker.

Hanks and Wilson currently live in a 14,500-square-foot home in the same neighborhood, having purchased the property in 2010. The couple has another home in the gated Malibu Colony community.

Hanks, 53, won a Golden Globe for Best Actor and an Academy Award for Best Actor for his role in "Philadelphia" and a Golden Globe, an Academy Award, a Screen Actors Guild Award and a People's Choice Award for Best Actor for his role in "Forrest Gump." In 2004, Hanks earned the Stanley Kubrick Britannia Award for Excellence in Film from the BAFTA.