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Warren Buffett famously still lives in the Omaha, Nebraska, home he bought in 1958 for $31,000. (Now its property taxes are almost that much.)
But at the urging of his late wife, Susie, Buffett also bought a beachfront vacation home in Laguna Beach, California, in 1971 for $150,000. While Buffett put the mansion on the market for $11 million in February 2017, the home has not yet been sold — and Buffett hasn't budged on the price. In fact, the house has been on the market for almost five months longer than the median listing time for listings in the same price range in the same ZIP code, Bloomberg reports.
While the home might be overpriced, at least according to some Realtors, the beachside estate is still a beauty.
Buffett's 3,600-square-foot Emerald Bay house is just steps from the Pacific Ocean, according to listing agent Bill Dolby with Villa Real Estate. It has six bedrooms, seven bathrooms and several balconies with epic views (seen below).
Buffett told The Wall Street Journal that the now-tony enclave "wasn't fully developed" when he originally purchased the home, but he says he invested a lot of money into multiple renovations over the years.
Still, true to the notoriously frugal billionaire's style, the house has modest decor for such a swanky area: There is a lot of carpet, and the kitchen has laminate countertops.
The family spent many happy summers at the retreat, and Buffett says he spent more than a few Christmas vacations writing Berkshire Hathaway annual reports in the house's master bedroom.
This is an updated version of a previously published article
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