Meet today’s buyer: Schwarzenegger buys 25 acres of ranchland

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Worth noting: The governor of California (pictured), widely seen as having good business sense in his own affairs, has been a recent buyer of land. The L.A. Times’ Hot Property reports Schwarzenegger and his wife, Maria Shriver, recently bought 25 acres of ranchland in Carpinteria, in Santa Barbara County. Price tag was about $4.7 million.

Also worth noting: An L.A. Times analysis of beach communities shows median sales prices are slipping -- down 8.9% from August -- though are still outperforming the rest of metro L.A. Sales are down as well: 149 sales in February in 18 beach ZIP codes, down from 209 in February 2007. The biggest seaside price declines: In Huntington Beach, where median prices in one ZIP have dropped from $1.2 million in 2007 to $827,000 in February, a dip of 31%.

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Photo Credit: AP