Nobody wants to buy Warren Buffett's Southern California vacation home, and he just cut the price by $3 million

warren buffett laguna

  • Warren Buffett first listed his Laguna Beach, California, home for $11 million in early 2017.
  • In August, he reduced the price by more than $3 million to $7.9 million.
  • Buffett purchased the home for just $150,000 in 1971, which is less than $1 million in today’s dollars.

 

It’s been over a year and a half since Warren Buffett listed his Laguna Beach, California, home for sale — and it still seems to be lacking an interested buyer.

In August, he cut the $11 million asking price by more than $3 million, reports the Orange Country Register.

But Buffett could still see a big return if it sells close to the asking price of $7.9 million. The Berkshire Hathaway CEO has owned the home since 1971, when he purchased it for $150,000. That’s about $934,000 in today’s dollars. He’s since renovated the place, which has six bedrooms and more than 3,500 square feet of living space.

The billionaire investor had primarily used it as a beach retreat for his family, but they reportedly hadn’t used it much since his first wife, Susan, died in 2004.

Let’s take a tour of Buffett’s beach-town home.

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Buffett’s longtime vacation home is located in the affluent beachside community of Laguna Beach, in Orange County, California.

It’s part of a gated community called Emerald Bay and is just a short walk from the beach.

The beaches here are stunning, with high cliffs.

See the rest of the story at Business Insider
Source: Business insider

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