Billionaire Warren Buffett Reduces Price of His Laguna Beach Home

Investor and CEO of Berkshire Hathaway, Warren Buffett, just chopped the price of his three-story Laguna Beach home. First listed over a year ago for $11 million, the billionaire is now asking a slightly more modest $7.9 million for the abode, but will still turn a sweet profit since he picked it up for $150,000 in the 1970s.

The 3,588-square-foot home has great bones and even greater potential, but definitely needs some time and attention in the design department. Rooms are white, clean, and airy, but are dated by old-fashioned furnishings and fabrics. A new owner would therefore have the joy of redecorating this blank canvas to be whatever he or she envisioned it to be.

With six bedrooms, seven bathrooms, and spectacular ocean views, this Laguna Beach residence is ideal for a large family or an owner who loves to entertain.

According to Mansion Global, Warren Buffett is parting ways with the property because he hasn’t spent much time there since his first wife died in 2004. She was the one who fell in love with the home so many years ago.

Bill Dolby of Villa Real Estate has the spacious Emerald Bay listing.