A BEACH DEAL FROM WARREN BUFFETT!
Updated: Sep 5, 2018
For the first time in nearly 50 years the legendary "Oracle of Omaha's" home 27 Emerald Bay is now available!
Known for his Midas Touch in choosing investments, Warren Buffett is equally well known for being a bit of a cheapskate when it comes to living like the billionaire he is. Never one to be led by societal advancements, he refrains from using popular technology and has no egotistical need to keep up with the Joneses or prove that his anything is bigger and better than his peers. Of course, with a worth of almost $85 billion, he has few peers. The only visible evidence of his largess is the private jet he purchased in 1989, only because it saved time in getting to his meetings.
One of the most unexpected things one would expect from a billionaire such as Buffett is that he would still be living in an average family home that he purchased in 1958 for $31,500 in Omaha, Nebraska - the city where he was born. That’s not to say that he didn’t make one splurge in personal real estate. While married to his first wife, Susan Thompson, he did buy a beach house in 1971 where the family of five would vacation and spend holidays. Purchased for just $150,000 it overlooks the Pacific and is only a short walk to the sandy beach.
4 decades on, the property is now surplus to requirements and has been placed on the real estate market for however after listing the property for over a year (originally listed for for over a year at $11 million) he has slashed an astonishing $3.1 million of the price and is now asking for just $7.9 million. Still not a bad return on an initial investment of €150,000!
Today in a much more developed community than when purchased, the house is located in a gated community that sports multiple tennis courts, swimming pool and beach volleyball courts among other amenities. He and Susan enjoyed entertaining their friends at the house but found that there were so many visiting that he also bought a house next door and built a stairway to connect the two. After Susan died in 2004, Warren rarely used the home and sold the connecting property in 2005.
At 3,588 square feet, the Laguna Beach house features 6 bedrooms with 7 baths. En suite baths accompany 5 of the bedrooms in the home. Two of this special beach home's bedrooms have their own separate entrances ideal for your guests when they come to visit! In addition a large family room with an over-sized ocean viewing deck is separated from the main home great for activity away from the main part of the homes living areas. With an abundance of parking the property has a large 1 car garage with direct home access and a separate 1 car garage which has an apron for off the street parking.
Listing with agent Bill Dolby of Villa Real Estate, Emerald Bay, California.
Article provided courtesy of TopTenRealEstateDeals