March 30, 2007 12:10 PM

Victoria and David Beckham are still looking for a home in California – because the couple refuse to overpay for a house whose price has been raised simply because the famous pair is interested.

“It’s pretty hard to keep identities secret when you are interested in multimillion-dollar mansions,” a source close to the pair tells PEOPLE. “Once sellers find out who’s interested in buying, the prices skyrocket. It’s ridiculous.”

As a result, says the source. “Victoria and David have still not decided on a house for when they move to L.A. … They refuse to pay above the odds just because they are famous.”

In January it was announced that the Beckhams would move to California after the former English soccer captain, 31, signed a lucrative five-year deal with the L.A. Galaxy.

Since then Victoria, the former Posh Spice, 32, has made several trips to the west coast to check on possible homes for themselves and private schools for sons Brooklyn, 8, Romeo, 4 and Cruz, 2.

Although schools have been narrowed down, the family is struggling to find a suitable mansion. “They will definitely buy in or around Beverly Hills. It makes sense for them,” says the source. “But they will not pay an excess purely because of who they are. They are careful with their money.”

Reps for the couple were not immediately available for comment.

“They don’t want to get stuck in bidding wars. One mansion recently went up by millions once the owner found out the Beckhams were interested,” says the source. “The problem, is they need a big house.”

Wherever they land will be recorded for TV cameras, since Victoria has signed to star in a six-part, NBC reality show that will coincide with the family’s move to L.A.

“They have a lot of work to do before David finishes playing soccer in Spain,” says the source. “Their house in Madrid needs to be sold before they move in July.”

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