Will Smith, Antonio Banderas, David Spade and more settle down in pricey style

By Tricia Johnson
Updated June 11, 1999 at 04:00 AM EDT

For a Hollywood player, they are three of the most important words in the industry. No, not the Ivy’s booked — but rather location, location, location. In a town where property transactions are as closely monitored as production deals, real estate is one of the glammiest of glam businesses. ”[Celebrity] homes are more high profile than ever because these days there are so few high-end properties available,” says Michele Hall, estates director at Coldwell Banker Previews in Los Angeles. ”Real estate is cocktail conversation. If you’re looking for a new house, people know.” Given that, here’s some recent activity on the celeb home front.

For sale: Stunning 6 BR, 4 BTH, Spanish-style mission; exclusive Brentwood neighborhood; MUST SEE! Not yet officially listed!
Price: Expected to fetch more than $4 million
Melanie Griffith and Antonio Banderas have lived here since 1995, when they began renting the house from Michelle Pfeiffer. They bought it from Pfeiffer in ’97 but are now looking to unload it. A real estate source says the couple’s burgeoning brood — they have a 2-year-old daughter and Griffith has two kids from previous marriages — has outgrown the 4,000-square-foot residence. In fact, they recently bought a 13-bedroom, 1925 Mediterranean-style house in L.A.’s tony Hancock Park for about $4.2 million.

Purchased: Dramatic 8,800-square-foot ranch; 4 BR, 6 BTH; plus four guest houses; located in the Santa Monica Mountains
Price: $7.5 million
Looks like Will Smith is taking his Wild Wild West role to heart. The actor and his missus, Jada Pinkett-Smith, bought this sprawling property from singer Bobby Vinton in April. It comes with a 100-acre horse ranch complete with stables, riding ring, and equestrian trails. After a day in the saddle, the couple can kick back at their private lake or tennis court. And talk about bargains: The property was originally listed for $9 million.

Purchased: Historic 5,630-square-foot Mediterranean villa; 5 BR, 5 BTH; in upscale Pasadena
Price: Approximately $1.9 million
According to an insider, the clincher for actor Tim Roth and his wife, fashion designer Nikki Butler, was this home’s architectural pedigree. Built in 1924, the structure was designed by prominent architects Reginald Johnson, Gordon B. Kaufmann, and Roland Coate, known for their influence on Southern California’s ubiquitous Italian and Spanish-revival mansions.

Purchased: Majestic 5,000-square-foot knoll-top retreat; 4 BR, 5 BTH; near Santa Barbara; comes with 45-acre ranch, barn, and horse arena
Price: About $2.4 million
Paging Dr. Carter — a.k.a. Noah Wyle — might be a problem if he’s here at his new getaway, about two hours from ER‘s Burbank soundstage. Wyle bought the spread in January from Bo Derek, who’d lived here with her late husband, John Derek, for two decades.

Purchased: Romantic 6-BR, 7-BTH 8,000-square-foot Spanish-style villa in the Hollywood Hills
Price: Roughly $1.7 million
Unlike many star homes with imposing view-blocking fences, Ben Affleck‘s new digs are visible from the street. Not that you’d be able to see the elevator, fountains, or pool just from driving by. But if you’re lucky, you might see neighbors William H. Macy and Giovanni Ribisi.