Oprah's oasis! Sprawling 42-acre estate in Montecito, Calif. PRICE $50 million

TV host, magazine publisher, California girl? Oprah Winfrey is negotiating to buy a rural property about 90 miles north of L.A. According to a source familiar with the estate, the newly constructed main house totals about 20,000 square feet. The spread, which dates to the '30s, boasts a 2,500-square-foot guest house, barn, artist studio, tennis court, pool, cabana, and gatehouse. She also owns a 160-acre Indiana farm, a Chicago condo, and a getaway on Florida's Fisher Island. So why go west? Says her rep: ''Oprah shot the April cover of O magazine in Montecito and fell in love with the area.''


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