Conan the House Hunter

While Conan O'Brien isn't taking over "The Tonight Show" until 2009, TMZ has learned he's already searching for the perfect $20 million compound ... with no luck!

Despite a megamillion-dollar budget, sources tell us that Conan and wife Liza are having trouble finding the perfect West Coast pad in which to settle with their two children. The O'Briens have a lot in common with the Beckhams, who also can't seem to find a place to call home for a not-so small fortune.

Looks like the L.A. real estate market is one thing the late-night host isn't finding very funny! Too bad, he just missed buying Johnny's old pad!