Kate Walsh is hoping another hefty price reduction will entice someone to FINALLY buy her Los Feliz mansion ... this time she's knocked the price all the way down to $3.995 mil.

The "Grey's Anatomy" star just re-listed her 5,940 square foot Spanish-style property -- the second time in a year and a half.

Walsh bought the 4 bedroom, 4.5 bath home for $4.75 million back in 2007 -- and tried to sell it last year for $4.295 million ... with no luck. Now, she's trying again with a $300k discount.

The house has 3 fireplaces, a swimming pool, a guest house and a Pilates studio -- and Kate converted one of the bedrooms into a massive walk-in closet. 

Kate Walsh from "Private Practice" is officially a single woman again.


Kate's bitter divorce from her husband of 14 months, Alex Young, was made final today, this according to documents filed in L.A. County Superior Court.

As we first reported, Alex was denied spousal support back in February, but scored $627,000 for his share of the community property plus half the residuals for the "Grey's Anatomy" and "Private Practice" episodes Kate appeared in while they were married.

Kate Walsh and her gal pals enjoyed some quality high brow reading material this weekend -- in the pornorific pages of something called Butt Man magazine.



They love all the back issues.

Kate Walsh has settled her nasty divorce with Alex Young, and Kate did pretty well for herself ... sources tell TMZ.


We got this video of the "Private Practice" star leaving court late yesterday with her lawyer, disso queen Laura Wasser. Walsh and Young were in court all day hashing out the settlement.

Here's what TMZ knows: Alex wanted several million bucks, but according to the court documents, he ended up with $627,000 for his share of the community property. Alex wanted spousal support but was shut down by the judge. Kate gets the house. They split the artwork and furniture.

Alex also gets half the residuals for the "Grey's Anatomy" and "Private Practice" episodes Kate filmed while they were married.

There are mutual restraining orders prohibiting each from harassing the other.

Mind you ... they only lived together as husband and wife for 14 months.

ABC televison was shot down in court today by the estranged hubby of Kate Walsh.

The judge ruled Alex Young can make ABC Prez Stephen McPherson sit for a deposition, and answer all sorts of questions about Walsh's financial prospects at ABC -- pilots, development deals, etc.

Walsh and Young were only together as husband and wife for 14 months, but it's turning into one of the most bitter divorces in Hollywood.

ABC claims Young is harassing her and ABC and the motive is $$$.

And here's the best quote from the ABC lawyer: "It's as if Manny Ramirez was getting divorced and the first deposition they want to take is the president of ESPN."

The judge disagreed, so now Young's lawyer can grill the ABC honcho.

Kate Walsh's estranged husband will not take no for an answer. He's filed new court papers asking to grill Kate's boss -- the Prez of ABC -- under oath.

Alex Young is now responding to ABC -- the network claims Young is harassing them and should be blocked from deposing ABC President Stephen McPherson about Kate's salary and earning potential.

Walsh and Young are in a bitter battle over money -- the irony ... they were only married 14 months before separating, but Young thinks he's entitled to a chunk of money Kate may be hiding.

But in papers filed yesterday by Young's lawyer, Jeff Sturman, he strongly suggests Walsh may be in for a big ABC payday and he's entitled to half. Specifically Young wants to know not just what Kate is scoring for "Private Practice" but also future deals, including bonuses and new projects. As Young's lawyer put it, "Ms. Walsh is not a garden variety employee who received a weekly paycheck..."

Under California law they're entitled to a 50/50 split of earnings during the marriage.

The head honcho at Disney/ABC has been dragged into Kate Walsh's bitter divorce, and he's gone to court asking for protection.

We've learned Walsh's estranged husband, Alex Young, has subpoenaed Stephen McPherson, President of Disney/ABC Television, for a deposition -- to testify what he knows about Kate Walsh and her finances. Disney's lawyers have filed legal papers, obtained by TMZ, asking for a court order blocking any such depo.

Young believes Walsh is not coming clean with all the assets acquired during their 14-month marriage. Young's lawyer, Jeff Sturman, fired off the subpoena to McPherson, claiming he has "unique" knowledge about Walsh's finances since she works for him as the star of "Private Practice."

Disney lawyers have fired back that Young is "harassing" McPherson, "because at the the time of Ms. Walsh acquiring the role on 'Private Practice,' Mr. McPherson was not running ABC Studios."

Disney is willing to send an underling to the depo. We've learned Young has also subpoenaed financial docs from Disney.

Disney and Young will fight it out in court on July 8.

Kate Walsh's accounting firm did not get the protective order it was after -- the judge felt it wasn't necessary to order estranged hubby Alex Young to stop demanding financial info.

Young has been on the firm's ass, demanding to know exactly how much he's owed for the house he and Kate purchased together. Fact is -- the house has gone down in value since they bought it in 2007.

Alex has not only made repeated demands on the firm, but today in court Kate's lawyer, disso-queen Laura Wasser, said he's been on ABC network's ass as well, demanding financial info. Wasser said ABC will be asking for a protective order against Young. Famous pit bull lawyer Marty Singer (one of Walsh's lawyer's) will also ask for a protective order this morning.

Young's lawyer, Jeff Sturman, told us, "The judge found there was no basis for a protective order ... that the accounting firm filed it's motion prematurely and without attempting to informally resolve matters. And the accounting firm was required to pay approximately $6,100 in Young's fees."

The couple was only married for 14 months before separating.

Kate Walsh's estranged hubby, Alex Young, has just filed legal papers asking a judge NOT to grant an order blocking his efforts to get financial info from Kate's accounting firm.


The accounting firm has asked for the order, arguing that it has given Young all the info he needs to proceed in the divorce, and he's harassing them.

Young says during his 14 month marriage, they made several hundred thousand dollars in improvement to their home and they purchased more than $800,000 in furniture.

He says when he moved all he had was the clothing on his back. He says he's been asking for info about the money sunk into the house and he says he was told the firm was siding with Walsh, not him.

Young says his accountant caused him "overwhelming stress," adding the accounting firm is trying to smear him.

Story developing ...

Here's the house that has triggered the epic fight in the divorce between Kate Walsh and Alex Young. Alex wants to know how much money he should get from the property. But here's the deal -- they bought it for $4.95 mil in 2007 -- but It's now only worth an estimated $3.6 mil. So according to our math, Alex is SOL.





By the way ... Kate put down the lion's share of the down payment and he left her with the mortgage and the bills.

Kate Walsh is drawing a line in the sand with estranged hubby Alex Young. We've just obtained legal papers in which Walsh's lawyer, disso-queen Laura Wasser, has requested a trial date in their divorce -- always a bad sign.

As we reported this AM, Young is gunning for info about the house they bought together, just before they tied the knot. The marriage lasted only 14 months, but it's gotten ugly.

By getting a trial date, the clock is ticking for Kate and Alex to either come to terms or go before a judge. We know Walsh feels as if Young is harassing her people for financial information she says he already has.

Young's lawyer says the case "is no where near ready for trial" but thinks it's gonna settle.