Warren Buffett slashes price on Laguna Beach vacation home

Billionaire investor now asking $7.9M for home he purchased in the 1970s for $150K

TRD New York TRD WEEKEND EDITION /
Aug.August 25, 2018 04:00 PM

Warren Buffett and his Laguna Beach vacation home (credit: Wikimedia Commons, Zillow)

Warren Buffett slashed the price of his Laugna Beach vacation home by about 30 percent.

The billionaire investor reduced the $11 million asking price on his 3,500-square-foot home to $7.9 million, the Wall Street Journal reported.

The home originally hit the market in February. And despite the price chop, Buffett stands to make a tidy profit on the sale. He paid just $150,000 for the property in the 1970s.

The 87-year-old chairman of Berkshire Hathaway spent his holidays at the vacation house. But he has not spent much time at the home since his first wife Susan died in 2004.

Buffett’s real estate brokerage, HomeServices of America, saw profits slide during the second quarter bu 5.3 percent from a year earlier to $107 million. [WSJ] — Rich Bockmann


Related Articles

arrow_forward_ios
Fredrik Eklund, Julia Spillman and John Gomes (Getty, iStock)

Threatened by tech, agents turn to app

Threatened by tech, agents turn to app
(iStock)

Mortgage applications to buy homes now higher than a year ago

Mortgage applications to buy homes now higher than a year ago
Vacasca CEO Matt Roberts (middle), Silver Lake's co-CEO’s Egon Durban (left) and Greg Mondre (right)

Vacasa gets $108M lifeline from Airbnb’s rescuer

Vacasa gets $108M lifeline from Airbnb’s rescuer
155 West 11th Street and 1100 Park Avenue (FXFOWLE; Google Maps)

Manhattan luxury market shows tentative signs of activity

Manhattan luxury market shows tentative signs of activity
Clockwise from bottom left: Robert Reffkin of Compass, John Gomes, Scott Rechler of RXR Realty, Rich Barton of Zillow, Gary Keller of Keller Williams and Don Peebles of The Peebles Corporation (Getty)

“America is in crisis:” Real estate leaders address George Floyd protests

“America is in crisis:” Real estate leaders address George Floyd protests
16 Sutton Place (Credit: Google Maps)

Sutton Place co-op in turmoil over terrace fees

Sutton Place co-op in turmoil over terrace fees
Molly Townsend (Getty, iStock)

Ex-Douglas Elliman sales manager Molly Townsend joins Triplemint

Ex-Douglas Elliman sales manager Molly Townsend joins Triplemint
New home listings in Manhattan are up for the 4th week in a row. Contract signings, not so much. (Getty; iStock)

Manhattan resi listings are up while contracts “limp along”

Manhattan resi listings are up while contracts “limp along”
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...