Corner of Berkshire & Fairfax Message Board

General Category => Berkshire Hathaway => Topic started by: Parsad on February 12, 2009, 10:20:35 AM

Title: Home Next To Buffett's Is For Sale!
Post by: Parsad on February 12, 2009, 10:20:35 AM
The home next to Warren Buffett's house in Laguna Beach is for sale.  Any boardmembers have $13M laying around?  Cheers!

http://southcoasthomes.freedomblogging.com/2009/02/12/be-warren-buffets-neighbor-for-13m/
Title: Re: Home Next To Buffett's Is For Sale!
Post by: SFValue on February 12, 2009, 11:24:26 AM
I am pretty sure he sold his house back in 2004 or 2005 

For those that doubt his ability to time the markets or think he did not see the housing debalce coming ja ja...
Title: Re: Home Next To Buffett's Is For Sale!
Post by: calonego on February 12, 2009, 11:45:03 AM
He had a house there he bought in the '60s I believe, then he bought an adjacent house for guests.
I believe he mentioned selling the adjacent home at an AGM 3-5yrs ago (he quickly figured out the replacement cost of the home, backed it out of the sale price and figured out the price paid per acre of land, which was rather irrational).
Title: Re: Home Next To Buffett's Is For Sale!
Post by: woodstove on February 13, 2009, 05:42:00 AM
The market value of my house (owned a long time) is less than what it would cost to rebuild.  So my land value is negative, I guess.  For some strange reason, my neighbour does not agree with my arithmetic, and refuses to accept my offer of $1.00 for his land.  Even though the calculation shows he would be the net gainer on the transaction.  Perhaps we can set up a derivative to value everything properly.  He can then take the profit into his annual bonus.
Title: Re: Home Next To Buffett's Is For Sale!
Post by: Investmentacct on February 13, 2009, 09:56:08 AM
SF Value,

You are right.

http://money.cnn.com/2005/05/01/news/fortune500/buffett_talks/