Shopping for a Home With a View? Got $21 Million?

The bluff-top home overlooking the ocean in Laguna Beach carried a price tag of $18 million and was believed to be the most expensive home on the market in Orange County. Now it has gotten even pricier.

A pair of prospective buyers bid up the price, then failed to get financing after submitting the bids for the property, which has been on the market just over a year. But since both buyers apparently were willing to pay more than the old asking price, the home’s owner decided to bump the price to $21 million, said selling agent Boni C. Pereira of Coldwell Banker. Although some agents said they don’t believe the home would come close to selling for that amount, Pereira said the higher price has not dimmed interest. She said three or four potential buyers, mostly from the county’s surging high-tech segment, view the home every month. A European prospect also is considering the home as a vacation getaway for business clients.

The estate, dubbed Pacific Reflections, was bought by an unidentified software magnate in November 1996 for more than $14 million. It was built in 1979 by Boyd Jefferies, one of the nation’s most powerful stockbrokers until he was convicted in the 1980s insider-trading scandals.

The 12,000-square-foot contemporary structure, a blend of wood, concrete and glass, is spread across 1.33 acres. The bed in the master bedroom turns 360 degrees, providing views that range from the ocean to a fireplace. The ceiling also retracts to allow stargazing. A 3,000-square-foot pool deck overlooks the ocean. There’s an exercise room, an eight-car garage and a tennis court atop a guest home.