Michael Jackson's California residence is put up again for sale, with a price brought down from $100 million to $31 million.

Kyle Forsyth, one of the listing agents, said that the value of late King of Pop's Neverland Ranch has been remarkably cut down after the real estate sector had been impacted by dearth that the region has been suffering from over the past years.

“With the drought ending and the Santa Ynez Valley in full bloom," now was the best time to sell, he told U.S media.