William Lew Live-Dream-Play

Call or Text 604-862-1966 | EMAIL info@williamlew.com |

Warren Buffet can't seem to sell his vacation house

 

by Bloomberg26 Aug 2018

Warren Buffett can’t seem to close this deal. Now, he’s lowering the price of a vacation home in California by $3.1 million to attract potential buyers and finish the sale.

The price for the Laguna Beach house, earlier set at $11 million, was cut to $7.9 million, according to Allison Olmstead, a spokeswoman for listing agent Bill Dolby.

Buffett, who resides in Omaha, Nebraska, put the home up for sale last year after more than four decades of owning the California vacation property. Luxury real estate can often sit on the market for longer due to a smaller pool of buyers, with some properties listed for $4 million or more in Orange County, California, expected to spend over a year on the market, according to data-provider Reports on Housing.

The Wall Street Journal reported earlier on the price cut.

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.