House of the Day: Bask at Warren Buffett's Former Beach Home

Clearly investor king Warren Buffett knows when to hold them and when to fold them. Houses, my friends, not cards. The world's third-richest man sold this 3,100-square-foot Laguna Beach, Calif., home in 2005 for $5.45 million. And now it's on the market for $4.995 million.

Located in the hoity-toity neighborhood of Emerald Bay, the four-bedroom house has been listed for sale since March 2009, when the asking price was $6.495 million. Clearly the Oracle of Omaha looked into his crystal ball and sold at the right time. Still, it's a lovely house and one worthy of a guy with his immense wealth.

Laguna's gated Emerald Bay community includes beach access, tennis courts, and a community center with pool.

Click on the images below to see similar homes for sale in Laguna Beach, Calif.:

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