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A Sure Thing: Real Estate Appreciation in Laguna Beach

  • July 31st 2009

by Mark Wellborn

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A Sure Thing: Real Estate Appreciation in Laguna Beach: Figure 1
Courtesy of The Wall Street Journal

The appreciation of real estate would be a sure thing if all homes were built into the side of a cliff that overlooked the ocean. In this week’s departure from DC real estate, we take a look at a Wall Street Journal article that tells the story of a 1973 purchase of a beachfront home in Laguna Beach, Calif., and how it may soon pay off.

A Sure Thing: Real Estate Appreciation in Laguna Beach: Figure 2
Courtesy of The Wall Street Journal

Thirty-six years ago, Roger Jones purchased the 5,000 square-foot beach estate from his landlord for $420,000. For decades, Jones and his wife restored the home while living in a nearby apartment and renting out the home and a few other units to pay the mortgage. The house, which has ocean views from every room, is now on the market for $29.9 million. Who says that real estate isn’t a good investment?

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/a_sure_thing_real_estate_appreciation_in_laguna_beach/1192.

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