THE housing bubble has burst for Hollywood veteran CONNIE STEVENS – she’s losing her Beverly Hills home in a short sale, sources tell The ENQUIRER.

The 74-year-old singer/actress , best known for her role as Crick­et Blake on the 1960s classic TV show “Hawaiian Eye,” has report­edly been offered $800,000 for the 3,085-square-foot house. But that’s a whopping $1.1 million less than what she cur­rently owes on the property, which she rents out, say sources.

“Connie’s certainly not broke,” said a close friend. “But she is feel­ing the financial pinch and has to let the house go.”

This isn’t the first home Connie has lost. Last year, a log cabin she owned in Jackson Hole, Wyo., went on the auction block after being foreclosed by the bank.

“She owed about $2.8 million and couldn’t afford it any lon­ger,” said the source. “Connie was brokenhearted. It was one of her favorite retreats.”

And in 2010, she was forced to sell an apartment in Manhattan. But she still has homes in Las Vegas and Palm Springs, Calif., along with her primary residence in Bel-Air, Calif.

Connie – who was married and divorced from actor James Stacy and singer Eddie Fisher – has suffered through tough times with her business ventures. A cosmetics line she once hawked on the Home Shopping Channel has also been hit hard by the poor economy. And the mom of actresses Joely Fisher and Tricia Leigh is no longer getting offers for major film and TV roles, says the source.

“Connie is doing her best to scale down her debts and get rid of what properties she can,” added the source. “Right now, her children and five grand­children are what really matter to her the most.”