Coldwell Banker has released their 2009 Coldwell Banker® Home Price Comparison Index (HPCI) and found that La Jolla, Calif., is the most expensive market. In fact there is an over $2 million gap between what they deem the most expensive and most affordable U.S. housing markets. The comparison of similar 2,200-square foot homes in 310 U.S. housing markets found that the average home price in La Jolla is $2.125 million while at the other end of the spectrum, Grayling, Mich., was the most affordable market in America, where a similarly sized home costs $112,675. California fared badly, 13 other California markets are on the most expensive list while Grayling was one of 20 Midwest communities on the most affordable list (others include Akron, Canton, Detroit and Wichita).

Looking at four-bedroom, two-and-a-half bath homes in the United States, thirty percent of the markets show this type of home to be below $200,000, while half of the markets surveyed showed an average price for this type of home to be less than $300,000 meaning there are deals out there. The cumulative average sales price of the four-bedroom homes surveyed in the 310 U.S. markets (including one in Puerto Rico) covered in the Coldwell Banker HPCI is $363,460.

The mention of La Jolla gave me a chance to check in on one of my favorite estates which happens to be in the seaside town. The Razor was once listed at $39 million, it was $32 million when I covered it in April and is now down to $28 million.

Architect Wallace E. Cunningham has been deemed one of Architectural Digest's Top 100 Designers and today's estate shows why he earned that title. The Razor in La Jolla, California is as perfect a slice of concrete and glass positioned for ideal ocean views. When Architectural Digest published a piece about this property last year the owner, Don Cooksey was quoted as saying :"I'll never have a collection better than that view," says the software designer and entrepreneur. "That's my art. That thing's alive."

The home offers a panorama revealed in a series of curved forms set into the cliffside. The soft angles keep the house from being simply another modern glass box. The 11,000-square-foot home has four bedroom including a master with a large swoop of a fireplace. There is also a two level guest house and features private access to Black's Beach. The home hit the market last July for $39 million but is now listed at $32 million.

UPDATE: As of September 2009 this house is listed at $28 million. Experience more lush living in luxury homes and mansions or see the stars living large with celebrity homes galleries at AOL Real Estate.

Today's home is a walk through Southern California history. The home in the gorgeous beachfront area of La Jolla, California was once owned by actor Cliff Robertson. Robertson is probably best known to modern audiences as Uncle Ben in the Spiderman movies but he also won an Academy Award for Best Actor for his performance in "Charly" (based on the book Flowers for Algernon). Robertson bought the 1922 Spanish Colonial in 1963. He restored it and named it Casa de la Paz (house of peace). Real estate developer Ronald Baldwin and his wife Amie bought the home from Robertson in 2005 for $14.5 million (but Mr. Big Time has unearthed the fact that Robertson originally asked $25 million for the home). The eight-bedroom compound has around 6,100 square feet of living space on 1.4 acres. It includes a main residence with multiple fireplaces and a one-bedroom guest house with a kitchen.

The home was designed by and home to Philip Barber for whom La Jolla's Barber Tract (where this home is situated) was named. The home is a registered historical site and therefore qualifies for a tax break. The sellers haven't changed the property but they were planning to. They have massive renovation plans that are in the final stages of review by the city and the Wall Street Journal reports that the two-year process cost about $500,000 in architectural design fees. The addition would turn the main house into a five bedroom, 9205 square foot home with a den, exercise room and sauna. The plans also including adding an oceanfront pool. The home was listed at $28 million but is now $22.5 million. Any guesses on a final price? I'm guessing under $20 million.
.

This house in La Jolla, California has the type of old-fashioned glamour that is often missing in newer homes with a similar style. This home which was built in the 1920s has an Old Hollywood feel even though it is a bit further down the California coast. The home has views of the Pacific Ocean and has undergone a renovation that includes an interactive computerized lighting system, home technology system and a security system with surveillance cameras (a touch of New Hollywood). Another Hollywood touch are the wrought iron railings and light fixtures purchased from the Jayne Mansfield estate and replicated by local artisans. My favorite detail is the mosaic dome. The home was recently reduced to $16.5 million.

Want waterfront property in Southern California? Given the sky-high real estate prices, it's not a bad idea to consider going condo. In La Jolla, where oceanfront land is at a premium, the Seahaus is a new collection of townhouses and condos that offer close proximity to the beach. There are 138 townhomes and condominiums (from 700 to 2,200 square feet) plus retail space, a community meeting room and private recreational facilities including a swimming pool, spa, firepit, barbecue grills and fitness center. Prices ranging from the $400,000s to more than $1 million.

Vampire author turned Christ chronicler Author Rice has put%uFFFD her La Jolla, California home up for sale for $11.5 million. The home is being sold completely furnished because, according to an article on The San Diego Union-Tribune, she is looking for a simpler life. She's not completely giving up the posh life, she is buying a home in Rancho Mirage that had a list price of $4.2 million. The six bedroom home has nine bathrooms, a gym with a sauna and steam room, an upgraded media room, wine cellar, elevator, four-car garage, pool, spa and ocean views. The home sits on one third acre and has a swimming pool, spa, gated motor court and a four car garage. The listing has more pictures and you can definitely tell it's an author's home, there are books everywhere.