Real Estate Industry News

R. Rex Parris has served as Lancaster mayor since 2008, but he’s diversifying his real estate portfolio elsewhere, paying $6.627 million for a coastal home in Laguna Beach, real estate records show.

That’s about $670,000 shy of the property’s original asking price, according to the Multiple Listing Service.

Perched on a corner lot in Emerald Bay, the two-story home enjoys sweeping ocean views from window-lined living spaces and a pair of expansive terraces. Inside are four bedrooms and 3.5 bathrooms in 4,852 square feet.

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Most of the common spaces come in the spacious open floor plan, which boasts dramatic beamed and vaulted ceilings over hardwood floors. There’s a living room with a brick fireplace, a chef’s kitchen with booth seating, a dining area and a wet bar.

Lounges and dining areas fill out the main terrace, and the master suite — complete with a fireplace, sitting area and office — accesses the other terrace.

The quarter-acre lot also includes a brick walkway, landscaped yard and spa. It’s located about half a mile from the beach.

Parris, who also works as a trial lawyer, is serving his fourth term as mayor after last being reelected in 2016.

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Harold Noriega of Compass held the listing. Maria Wheeler represented the buyer.