California Real Estate Market News

Laguna Beach is one of the most beautiful spots in all of California to own a home if you love ocean views and fine lifestyle options.  Laguna Beach is also home to stars of the entertainment and business worlds including Bette Midler, Heather Locklear and Diane Keaton.

Warren Buffett, the second-wealthiest man in the world according to Forbes' 2005 list of the world's richest people, recently sold his two-bedroom house in Emerald Bay for $3.5 million. But he kept his other property, which is worth slightly more.

Prices have soared in Laguna, as in California as a whole. In March, Laguna Beach had one of the highest median home sale prices in the state, at $1.35 million. (Laguna Beach ranked 34th on the Forbes.com list of the Most Expensive ZIP Codes in the U.S.)

Forbes.com has recently written an article about a California Riviera Mansion which is currently on the market for almost $34 million.

"Perched above the ocean on Riviera Drive, Casa de Concha ("House of the Shell") is a Spanish Colonial-style house with five bedrooms and nine baths. Designed in a heavy, dramatic style, it features arched doorways and beamed ceilings throughout. The living salon has a double-height fireplace and adjoining oceanfront loggia. The bathrooms are clad in marble, travertine and tile, and the master bath has a view of the ocean from the tub."

Read the entire article and view pictures of the mansion by clicking here.