High real estate prices usually attract yawns in Southern California, but a Houston oil executive  raised some eyebrows recently when he paid $12 million for an 11,246-square foot beachfront lot in Dana Point, CA. That's the equivalent of $46.5 million per acre, which is a record deal. Still, the lot isn't even the most expensive in the Headlands Reserve development. An 11,773 square-foot lot is on the market for $17.25 million.

The Group Real Estate Insider. That's a lot for a lot. Volume 34, No. 4.