Tucked away down a quiet private drive, a turnkey pied a' terre is tastefully terraced down Laguna's premier promontory, ideally perched above California's trophy beach. 'Best view in Laguna,' 'Work of art,' 'Most desirable spot over the most picturesque beach.' Perfect height, angle & orientation directly above the wavebreak on both sides of a landmark point. Sitdown views into wave tubes from street side of house. 270+ panorama - rugged outcroppings, geyser-like rocksplash, caves, tidepools, swiss funiculars, striking topographical & architectural diversity. Grandfathered forward position on promontory, walls of angled & reflective glass, simply a garage door & gate visible from Street: unmatched privacy compliments world class views. Morning sun & catalina sunsets without direct heat or glare, twinkling lights at night, & close enough to 'touch' waves without a cliffhanger feeling. Nearly 80 feet of the world's most romantic, captivating & dramatic oceanfront.

Exceptional opportunity to purchase an oceanfront lot with direct sand access in Emerald Bay. This lot has preliminary plans, designed by renown architect Chris Light, for a new home of nearly five thousand square feet, plus a three car garage, with a pool just a few feet off of the sand. Unique among oceanfront parcels in Emerald Bay, this incredible lot features a more gentle slope to the sand than most, accommodating a more livable home with less of a vertical rise. The site also captures magnificent surf-line views, while also enjoying sunsets throughout the year. There has not been an oceanfront opportunity such as this in Emerald Bay for years.

Resting above white sandy beaches only a stones throw from the renown Montage Resort, this soft contemporary home is truly a magnificent work of art. Located on a private oceanfront street, this home was designed to experience the oceanfront with its window walls, glass ceiling large terraces and outdoor entertaining space. The upper penthouse bedroom suite enjoys a private view deck with private entrance. The relaxing contemporary design also includes a theatre room with media system, family room with full bar, plus an expansive wine room. Private stairs lead to the shores of the beach below. This home promises privacy and relaxation, tranquil views, romantic vistas and a lifestyle unique to the area.

The PREMIER OCEAN FRONT ESTATE of Three Arch Bay - this magnificent parcel includes Whale Island and the Three Arches which adjoin the beautiful home featuring an open floor plan, the crashing surf and white water views from most every room. Own your own Island and a piece of history in this one of a kind beachfront community.

This brand new contemporary home sits directly on the oceanfront of Laguna Beach and provides the buyer the ultimate in sleek luxury and sustainability. Containing 4 Bedrooms and 4.5 baths this home makes a stunning statement in both form and function. At 3,750 square feet and over 2,200 square feet of outdoor entertainment area including a dramatic private courtyard with pool and spa, private beach entry, media room, and bi-fold windows throughout, this home is perfect for entertaining and social beach living. Parking includes a 3-car garage and a total of six car parking. Taking full advantage of this beachfront location the home was designed to maximize the impressive sights and sounds of the crashing waves while providing an unequalled venue for living and entertaining. This is a signature Tresor home and designed by renowned Mark Singer Architects, is the first LEED registered home on the California Coastline and Laguna. For More Info visit 990oceanfront. c o m.

FAMED TABLEROCK - SECRET COVE ESTATE. This is the landmark, showcase and spectacular home on the beach you have been waiting for! Magnificantly perched Mediterrean classic estate home above the Pacific Ocean waves offers 300 degree private panoramic views and private beach. One of South Laguna's most famed scenic homes. This estate is move in ready with a elborate and extensive remodel done to peak perfection. Including a 20 foot salt water aquarium and bar on the homes lower balcony for entertaining those important people in your life. For pampering the Master suite enjoys the entire third level of the home with private fireplace, a second bedroom converted to a workout/gym with extra bath, 2 sep. walk-in closets, a shoe closet plus separate sunken tub & 2 person shower. View Cataline and more. This custom estate demands respect from all. Creative financing available; Trust conyeance, seller carry, lease option to buy, etc.

Imagine floating high above a white sandy beach and cove below, with breathtaking views of the Pacific, Laguna Beach coastline and beyond. This exquisite, private oceanfront residence is the embodiment of the best of soft contemporary architecture and elevates living and entertaining to an art form. Premium fixtures and custom finishes abound where disappearing walls of glass seamlessly open to terraces with extraordinary views, unforgettable sunsets, and sounds of the crashing surf. Access to the broad beach below is through a secured staircase. The stylish floorplan also includes a Gaggenau gourmet kitchen, office, meditation area, family room (+F/P) and game room. The upper level master bedroom has 180+ degree views. All bedrooms are en suite and feature Philippe Starck fixtures. A state-of-the-art garage showcases a commercial-grade hydraulic lift with subterranean parking. Home is not visible from street--UNBELIEVABLE 'secret' tunnel entry!!

Direct beach access from this chic Cape Cod custom Beach House majestically overlooking Lover's Cove and Woods Cove beaches. Completely remodeled (2009) this private, gated compound features hardwood mahogany floors, designer finishes and beadboard treatments with 4 bedrooms (one converts to den/guestroom with murphy bed) plus 3.5 baths. Premium chef quality kitchen with Viking/Subzero appliances. Floor to ceiling walls of glass overlooking the white sandy beach & serene tide pools below; picturesque Laguna coastline and Catalina Island views from most every room. Smart Home electronics & security, HD media (Kaleidescape Home Theater) thru-out. Secluded patio atrium with BBQ center, firepit and ambient lighting. This stunning property has been completely furnished and equipped in sophisticated 'Hamptons style' and comfortably accomodates and sleeps 14 guests. Situated next to the 'Landmark' Bette Davis Estate and one block to galleries, shops, cafes and entertainment venues.

Reminiscent of the Napa Valley Wine Country, this architectual masterpiece rests just above one of Laguna's famed beaches Shaw's Cove. Truly breathtaking, this home boasts the finest attention to detail and unparalleled views. No expense was spared with exotic Italian travertine radiant heated floors, mosaic inlay, rustic mesquite doors, Weiland glass sliding doors, artfully designed windows, magnificent wine cellar, and unique handmade Italian staircase. Exceptional and inviting gourmet kitchen with top of the line appliances. A lavish master retreat with phenomenal views, stunning bathroom with extensive use of exquisite Italian marble, and huge walk in closet. This home has several enclaves of enjoyment to relish in the majestic ocean and coastline views. Brilliantly designed to offer an extraordinary living and entertaining experience. 3 Bedrooms, plus large office or private suite with separate entrance. Direct beach access.

One of only a handful of Laguna Beach homes that sit directly on the sand, this dramatic residence sets a benchmark for design and finish. Private steps from the home lead to an expansive sandy beach just a short walk along the beach will find you at the world renowned Montage Resort or historic Aliso Beach. Extensively remodeled in 2000, the home boasts a classic contemporary design and a quality of finish rarely found. Located on a prominent rise with a forward position on the sand, the walls of glass allow stunning views of tumbling waves, Catalina Island, and up and down the coastline. The four bedrooms include a serene, panoramic ocean view master bedroom while another is currently outfitted as a beautiful office with warm wood accents. A gated motor court allows space for up to five vehicles, two more in the garage. The balance of the home includes media and gaming areas, snack kitchen, family room, and a visually stunning living room and dining room. Truly a spectacular home.

Romantic Oceanfront Spanish Hacienda in the prestigious gated community of Lagunita. The estate boasts five large bedrooms, five and a half baths with ornate Spanish tile and tons of authentic detailing. Perfect for entertaining, the large family room with wet bar steps out to an incredible sun drenched patio with BBQ and spa. This phenomenal property leads directly out to beautiful lush landscape with large wispy palm trees to the gorgeous sandy beach of Lagunita , and just steps to famed Victoria Beach. Panoramic ocean, rugged coastline, and mesmerizing Catalina sunset views. Truly a work of art!

Wood's Cove Laguna Beach Oceanfront home with Sunset and Catalina Island ocean views. Beautiful architectural features throughout the home with curved glass and high ceilings. Oceanfront living and dining rooms with dual fireplace. 4 bedrooms with open living areas and ocean views from most rooms. Limestone and granite finishes with smooth textured walls and large expansive seamless glass. The kitchen includes an ocean view breakfast nook and large pantry. The master suite spans the entire back of the house and includes an intimate master suite with fireplace. The master bath features a round jet tub, large shower and vessel sinks. Two oceanfront balconies with ocean waves lapping the rocks below. Wood's Cove Beach is just a few steps away with swimming, snorkling on a big sandy beach. It's a short walk on the beach to town with shopping, entertainment and dining. Away from the crowds but close enough to walk to town! Laguna Beach at it's finest!

Dramatic 180 degree views of the sun drenched coastline, this sleek contemporary home melds both the California modern & Italian villa styles with the highest level of taste. Private courtyard with swimming pool,and firepit. Master suite with dual master baths, steam shower and intricate hand laid tile. Incredible views from nearly every room. Gourmet kitchen with German Poggenphol cabinetry, stainless steel, and high end amenities. Soothe your soul in this visionaries dream.

OCEAN FRONT - WOODS COVE - LAGUNA BEACH. One of a kind Ocean Front residence with direct beach access located on the sand in Woods Cove, Laguna Beach. Seamless indoor / outdoor living with floor to ceiling glass, balconies and terraces designed to embrace the sound and sight of the surf, white water, panoramic ocean and sunset views. This 3 Bedroom, 3.5 Bath custom residence offers every amenity for beach side living: Gourmet Kitchen with top of the line Stainless Steel appliances, Living / Dining Room area with outdoor Dining Terrace, Private Master Suite & Bath with an Ocean Front Terrace and an In-Ground Jacuzzi Spa overlooking the Pacific. Garaged parking for 2 cars with a location on one of Laguna's least traveled Ocean Front streets. Ideally located within walking distance of the famed art galleries and dining establishments of the Laguna Village.

On the sand in Laguna's Village area, this exquisite oceanfront home offers beach living at its best, with separate guest house, central courtyard, 3 bedrooms, 3 baths, soft-contermporary styling, offering the finest in materials and craftsmanship, plus steps to the sand and your own large private sand box for sunning in high-tide season. Along with an architectural distinction, the home features limestone flooring and vanities, top of line appliances and fixtures, stainless steel and frameless handrail systems. Sit at the sunken living room bar and watch the waves crash on the shore. The location, panoramic views, and architectural flare of the retreat makes this a very special Laguna Beach oceanfront property. Front house is 3 bedrooms 2 baths. Guest quarters has hand crafted fireplace, sleeping loft and private bath.

Magnificent remodeled home with direct beach access in an exclusive gated Laguna Village community of Lagunita. This elegant Balinese design with a flowing floor plan, smarthouse technology, wall size sliding teak & glass doors on two levels, & 3 fireplaces, features a lower level family entertainment room with a full bar, theater, and game area adjacent to huge teak deck with a koi pond, a fire pit, built in storage, playground, dog kennel, and outdoor heating all surounded by lush landscaping. The main level boasts a spacious Chef's kitchen with granite countertops, center island, commercial grade appliances, and skylights and an oversized open living room both with cathedral ceilings and an adjacent formal dining room. The secluded and intimate Master retreat with an amazing bathroom and private ocean view decks bracket the home with its 3 secondary bedrooms, workout room (potential 5th bedroom) and large dry sauna. Custom bronze patina railings and fixtures both inside & out.

There is no better place to call home than Three Arch Bay. This beautiful soft-contemporary residence is tucked away on a quiet, semi-private lane Walls of glass & stacked stone, fabulous natural surfaces, slate patios, spectacular hardwood floors & fossil stone fireplace enhance the ambiance of this oceanfront property . Custom and unique sliding wood & glass doors created in a wave pattern, state-of-the-art kitchen by SieMatic and two spacious dining and living areas. A large Office/Study with a full bath upstairs, large oceanfront entertaining deck all create a complete living area on the entry level of the home. The bedroom level consists of a beautiful ocean view master suite with sitting area & fireplace that opens to ocean view deck, large master bath with spa and steam room, two more bedrooms & media room. This masterpiece was designed and executed by masters of their trades .Brion Jennette Architecture, Gallo Builders and Hart Brownlee & Associates Interior Designers.

Live on the oceanfront with ocean views, spanning from the morning sunrise to Catalina Island sunsets! Enjoy your private steps to an expansive sandy beach. With its classic traditional design...this fine residence is the result of an extensive remodel and expansion in 1988 by designer/contractor Gregg Abel. Oversized glass walls and windows enhance the beauty and excitement of living so close to the beach and ocean. Handsome walnut floors, granite kitchen counter tops, an impressively sized fireplace, and wrap-around Brazilian 'ipe' wood and pegged decks...all create a gracious but rich 'great room' effect on the main floor. A spacious master suite with its fireplace, and the generous use of rich marble in the spa master bath, and private ocean view deck, create a restful environment for watching and listening to the surf. This property has additional private parking at the front. Seacliff Drive is a private, almost hidden, cul de sac.

Brand new built from the foundation up beautiful oceanfront home. Stairway with direct access to the beach! Soak in coastline and beach views from numerous rooms. This exceptional floor plan boasts 3 bedrooms each with their own private bathroom plus a studio (4th bedroom). The studio on the lower level is equipped with a private bath, laundry room, kitchenette and sundeck with gated access to the stairway leading to the sandy beach. The living room and master suite feature a fireplace plus separate sundecks. A copper roof, mahogany garage doors, and built-in speakers are a few of the fine features.

When your taste in a beach home is more sophisticated.When your idea of a view is more than just ocean. When you love European craftsmanship you can touch. When you enjoy a few rather than a crowd...Explore what living at the beach in luxury means in this Morris Skenarian designed home which takes advantage of the ever changing coastline. Expansive stone decks with glass railings lets the outside become part of your life. From the moment you wake up nature is your neighbor. Open the french doors from kitchen, living room and dining room and master and enjoy the fresh air. Relax in your private spa off the master bedroom and luxuriate in your own bath with views. Located on a private road just minutes from wonderful restaurants and shops you can relax. Welcome home.

Prestigious Penthouse in the Ultimate Location! Rarely Available! The Best of the Best! Imagine Yourself Enjoying the Ocean Breezes and Amazing Views of the Beach, Catalina Sunsets and the Gardens from the Wrap Around Deck of This Beautifully Rebuilt 3 Bedroom Oceanfront Penthouse! Walk on the Sand to the Montage for Lunch or a Massage! Everything is Impeccable, Ready for the Most Discriminating Buyer! Easy Walk to the Beach, Pool, Spa and Gym. 24 Hour Guard. Two Small Pets Allowed. Also available for a 6 Month Minimum Lease for $12,500/month - see MLS #L33301.

PREMIER Laguna Royale location! The top unit of 6 penthouses expanding out from main building, this home is exquisitely secluded with private gated entry and wrap around deck encompassing three sides. Enjoy ravishing views from walls of glass as you enter this completely remodeled home. Beaumaniere limestone, custom leaded glass entry door, three-sided fireplace, wine chiller and bar, office/den with built-ins, and balcony access from every room are some of the highlights. A chef s kitchen includes large island, custom cabinetry with self-closing drawers and organizers, exotic Seafoam granite, Viking 6 burner stove, SubZero refrig. and Fisher & Paykel 2 drawer dishwasher. The master suite offers ocean view, built-ins, customized closets, and spa bath with travertine. Secondary bath has beautiful stonework and Jacuzzi tub. Resort-like living in this 24 hour guard gated community with beach access, pool, spa and gym. 2 small pets allowed. Easy walk to Montage for dining and spa services!

Amazing opportunity to own an oceanfront home above Thousand Steps Beach, Laguna Beach. Private stairs (shared easement with neighbor) to the broad, sandy beach and cove below. A shady palapa sits within the roped-off 'Homeowners area' on the sand for your private use. Stroll through the lush natural gardens on your way down for a day at the beach. Grab your surfboard and gear at your own secret 'surf shack' adjacent to the secluded river rock bench sculpted in the hillside. Other notable features include a rooftop deck, artisan mosaic tile, and vaulted beamed ceilings. Panoramic ocean views, Catalina Island, and incredible sunsets from most rooms in the home. Thousand Steps is known as a 'locals' beach due to the limited public parking. The home is rustic and does need TLC, but the possibilities are endless for making this residence a truly remarkable beach property.

OCEANFRONT with unobstructed ocean, coastline and Catalina Island views! Directly above the private, expansive, sandy beach in gate-guarded Three Arch Bay. And, conveniently close to the association club house and outdoor recreation facilities. The current owner has retained the charm of this landmark home, while recently updating it with a new kitchen, newly refurbished bathrooms, new off-street parking, and a completely new family room. Located on a small cul de sac a short distance from the HOA's private steps to the beach, this home's parcel sits on the crown of the bluff, enjoying some of the most choice views along the Three Arch Bay coastline. Restfully nostalgic!

PRIME BEACHFRONT LOCATION WITH PRIVATE BEACH ACCESS. Seller has invested over one million dollars exquisitely transforming this former Beach Front Cottage into a Romantic Tuscan Villa. Maximizing the privacy of two bedrooms on two levels, the master suite includes walk in closets, a double sided fireplace & a claw foot bath postured to enjoy views of the ocean and the fireplace. The most incredible feature is the contiguous private terrace overlooking the blue pacific with front row balcony seating to take advantage of the crashing waves into Laguna s Secret Cove. Other features include Second bedroom/office with private bath, ocean view terrace and private entrance. Professionally designed kitchen with antique appointments, electric window coverings, vaulted beamed ceilings, bamboo flooring and forever views. Built in BBQ Entertainment patio, Private road with extra parking. Experience the Ultimate in Beach Front Living.

RARELY AVAILABLE, PREMIUM, SOUTH CORNER UNIT IN THE LAGUNA LIDO!! Watch the Sunrise and the Sunset from this 2 Bedroom, 2 Bathroom Oceanfront Condo! Updated Granite Counters in Kitchen and Baths. New Stainless Steel Appliances in Kitchen. 2nd Bedroom currently used as Home Office with Wall Bed to turn it into a Guest Bedroom. Both Bedrooms have Magnificent Ocean Views! Living at the Lido is Resort Living at it's Finest! The Lido has Many Fabulous Amenities such as: Elevator to Lovely Totuava Beach,with Beach Lockers, the Gym Rivals the Gym at the Montage Resort, Newly Redone Saline Pool, Steam Room, and Game Room. Each Unit has a Private Single Car Garage as well as Parking on the Lido's Private Parking Lot. Kayak Storage available. Handicap accessible. The Lido has a 24 Hour on Site Manager. One of the easiest beach accesses in Laguna Beach! Also available for Rent July 2010 for $15,000/month, September & October 2010 for $7,500/month - see MLS# L32834.

ABSOLUTELY GORGEOUS! ONE OF THE NICEST UNITS IN THE LAGUNA ROYALE IN A PERFECT LOCATION OVERLOOKING THE GARDENS AND THE OCEAN! SECOND FLOOR ABOVE THE SAND. THIS UNIT WAS REBUILT FROM THE CONCRETE AND STUDS IN 2005. LOVELY BAMBOO FLOORS, GRANITE KITCHEN AND BATHS, BEAUTIFUL CABINETRY THROUGHOUT, COMPLETE BUILTIN WALL UNIT IN LIVING ROOM FOR BIG SCREEN TV AND SPECIAL TREASURES. MANY EXCEPTIONAL DESIGN UPGRADES THROUGHOUT! CENTER FRONT ON THE SECOND FLOOR OF THE LAGUNA ROYALE, WITH ONLY THE TROPICAL LANDSCAPING BETWEEN YOU AND THE BEACH! LARGE PRIVATE DECK. WONDERFUL LANI INDOOR/OUTDOOR FEELING BY OPENING THE APPROX 30 FT OF FLEETWOOD GLASS SLIDING DOORS ON THE OCEAN FRONT. ELECTRIC SUNSHADES FOR SUN CONTROL. SOLD TURNKEY. TWO SMALL PETS OK. PLENTY OF GUEST PARKING IN SUBTERRANEAN GARAGE. 24 HOUR GUARD AND GATED SECURITY. OWNER WOULD ALSO CONSIDER A 1 YEAR LEASE FOR $7,500/MONTH.

Tropical Paradise! Open, Light, Single Level 'Tommy Bahama' style Oceanfront Penthouse in the Laguna Royale. Located half way between the Center of Laguna Beach and Dana Point Harbor. Take a Short Walk on the Beach to the Montage Resort for Lunch, Dinner or a Massage. Once inside the Penthouse you could be on any Tropical Island in the World. Large, Inviting, Wrap Around Deck Lets You Choose Sun or Shade, Ocean or Garden Views. Most Rooms Open to Gorgeous Ocean and Catalina Island, Sunset Views and Breezes. Easy walk to the Beach Level, Resort Style Pool, Spa and Gym. 24 Hour Guard. Two spaces in the Subterranean Parking Garage. Two small pets allowed. Also available for a 6 month min. Lease @ $7,000/month - see MLS #L32774.

GREAT BUY!! GREAT VIEWS!! GREAT VERSATILITY!! This Top Floor unit is the BEST PRICE in the Laguna Royale with 1579 sq.ft., per assessor. Views of the Laguna Coastline to Palos Verde and Catalina Island. Gorgeous Expansive Sunsets Nightly... Watch the Dolphins, Whales and Sea Birds As They go by From Your LARGE PRIVATE DECK! The Deck Has Two sets of Sliding Doors, for Versatility. Open the Inner Sliders to Incorporate the Deck Space Into the Unit, or Close Them to have a Separate Deck Area. Electric See Through Sun Shades on the Outer Deck Sliders.... Delightful! The Kitchen and Baths have been updated nicely. New Appliances in Kitchen and New Washer and Dryer. Skylight in Second Bath. Come and Enjoy Living on Beautiful Coast Royale Beach...Take a Walk on the Sand to the Montage for a Meal or a Massage! 24 Hour Guard. Subterreanean Parking. ALSO AVAILABLE FOR RENT FOR $4,500 / MONTH - 6 MONTH MINIMUM.

Catalina Island and gorgeous sunset views! Enjoy the beach and private club lifestyle in this gated resort community! Feel free to take your beach chair and towel down to the sand...your home is located almost on the beach. Blue Lagoon is one of the rare locations in Laguna Beach that has two association swimming pools and tennis courts. Have you ever relaxed at the deluxe 5-star Montage Resort? Well, you can live next door! This two bedroom plus office/third bedroom (without a closet) residence features bamboo flooring, an upgraded kitchen, and three updated bathrooms. When comparing to others, remember this is the largest floor plan in Blue Lagoon. Conveniently, across the street are a multitude of shops, restaurants and a major supermarket...allowing easy access without necessarily driving far.

Step into a luxury lifestyle with your oceanfront condominium home in the art colony of Laguna Beach. Located in the Table Rock condominium complex, this oceanfront community enjoys easy access to two beautiful beaches. Sitting on a bluff just above Secret Cove beach, this large one bedroom/one bath home enjoys superb views of the ocean from the living areas of the home and spacious deck. There is a one-car garage space located nearby, with elevator access if you are carrying groceries! This unit is conveniently located near the steps that access the pool area and association amenities. The Table Rock condominium association has a pool, spa, exercise room, recreation room, barbecue, patio and community laundry. The well-located complex is near restaurants, shopping, and luxury resort hotels. However, you won't want to leave your own 'home-by-the-sea'!

The Perfect Get Away! Remarkable Oceanfront Truly Spectacular! Beyond the gates of Laguna Royale is one of the most impressive coastline and ocean views. Unbelievable beach lifestyle in the heart of Laguna Beach. Make it your year round home or as your California Coast Get Away ..Expedient twenty-four hour guard gated community. As you enter into the home you will be delighted with the floor-to-ceiling glass walls that project out to the massive ocean views and your expansive patio area for entertaining or relaxing with family and friends. Remodeled interior with open living and dining areas, impeccable granite kitchen includes convenient breakfast bar, private and spacious master suite and secondary bedroom. Stroll out to the tropical path that leads you to the beach & sand; enjoy the luxurious 'resort like' pool & spa, workout room and private party patio area for extended outdoor entertaining. Unique and serene setting provides for the ultimate beach lifestyle.

JUST REDUCED $200,000! MOTIVATED SELLER. Located Oceanfront 1/2 way between L.A. and San Diego! This Two Bedroom, Two Bathroom Condo Was Remodeled in 2002 With Fine Quality Materials, Including Cherry Wood Cabinets, Bamboo Floors, Granite Countertops, Tumbled Marble and Honed Travertine. July 2009 new paint throughout, new carpet in bedrooms and staged. Approximately 30' of Telescoping Glass Doors Bring Views of the Beautiful, 'Caribbean Blue' Ocean and Breezes Inside. Enjoy Panoramic Full Sunsets Over Catalina Island. Take the Elevator to Gorgeous Coast Royale Beach or Enjoy a Swim in the Pool at the Edge of the Beach. Entertain on the Spacious Community Deck, Walk to the Montage for a meal or a massage! Come and Enjoy! OWNER WOULD CONSIDER CARRYING LOAN FOR 1-5 YEARS WITH 30% down.