While Taylor Swift fans are waiting to welcome the superstar into their homes tonight via her highly-anticipated web chat, Taylor is reportedly getting ready to put out a welcome mat at a house she has purchased in Hyannisport, Mass. The 13-room home overlooking Nantucket Sound, has seven bedrooms and five bathrooms and is located across the street from Ethel Kennedy, the grandmother of Taylor's rumored boyfriend, Conor Kennedy. People magazine confirmed the purchase last week of the property on Cape Cod, with a realtor in Hyannis, Mass.

"It's in a beautiful location and right across the street from Conor and the Kennedys," the realtor says. "It's a beautiful home. She got a nice home, paid fair price. The house was on the market for two to four years."

According to the realtor, the property was originally listed for $14 million but was "way overpriced." Local reports say Taylor plunked down a cool $4.9 million for the home in the historic Kennedy compound.

Although Taylor, 22, has, naturally, neither confirmed nor denied her relationship with Conor, 18, earlier this year she revealed to Vogue magazine that Ethel Kennedy, widow of Sen. Robert F. Kennedy, Jr., is "one of my favorites, because you look back at the pictures of her and Bobby and they always look like they are having the most fun out of everybody."

In December, Taylor will be one of the recipients of the Ripple of Hope Award from the Robert F. Kennedy Center for Justice and Human Rights, which will recognize the philanthropic entertainer for her commitment to social change.

Taylor's web chat will begin tonight (Monday, Aug. 13) at 7:00 PM ET/4:00 PM PT and will also include the opportunity for a Google+ Hangout (more information available here). The chat will also be available at Taylor's official website.

Watch a Report on Taylor's Web Chat

#fivemin-widget-blogsmith-image-323279{display:none;} .cke_show_borders #fivemin-widget-blogsmith-image-323279, #postcontentcontainer #fivemin-widget-blogsmith-image-323279{width:570px;height:411px;display:block;}
Taylor Swift To Announce try{document.getElementById("fivemin-widget-blogsmith-image-323279").style.display="none";}catch(e){}

Watch Taylor's "Ours" Video