The Malibu Real Estate Blog

Malibu kicked off the Halloween Weekend with a festival at Bluffs Park today. Here are a few of the great outfits the kids were wearing.

Could California’s long slide be abating?

According to recent data from Relocation.com, the number of people leaving the state is shrinking compared to the number of people moving to it, a crucial gauge for measuring the state’s rebound from economic calamity.

As recently as 2005, 60.7% of the relocation activity for California was outbound – in other words, for every 2 people who were moving to California, 3 were leaving.

That kind of migration can decimate the local tax base and contribute to a further erosion in the state’s quality of life.

However, that outbound number has been slowly decreasing every year, from 58.6% in 2006 to 54.99% in 2009 year to date.

These numbers are reflected in the Los Angeles data.

We looked at the data for all moves in Los Angeles, including moves made within Los Angeles. We found that outbound Los Angeles moves accounted for 36.4% of all moves in 2009 year to date, down from 43.1% in 2008 (the earliest year for which city data are available).

However, instead of people moving to Los Angeles, we found that more people were making moves within the Los Angeles area, an indication that more people are taking advantage of housing prices to either ‘move up’ to a better home, or move to a better neighborhood.

Most importantly, of course, they’re deciding not to move out of Los Angeles.

The percentage of movers making a move within LA was 25.2% in 2008; it rose to 32.33% in 2009.

Relocation.com utilizes real-time data from people requesting moving services, recording where people are moving from and to. It annually records over 500,000 moving requests in its database.

Don’t forget about tomorrows costume throw down at Surfrider.It should be pure mayhem!  Link Here to article

The gilded age continues! New this week to the Malibu Real Estate market is  a 9000 sq.ft. Tuscan wine estate  with an asking price of $65,ooo,ooo! For  that price you get 37 acres of land with the home located on the top of a mountain with 360 degrees views of the ocean, valley, and city. If you want to be king of the mountain, then there might not be any finer home than this one. The home for sale is located in the middle on Malibu’s burgoning wine country along the Kanan corridor. You may have seen a few times as you get close to the tunnels, a castle-like structure on the high peak among thousands of grape vines. There is an invite only  private showing on Thursday where I will post live updates via Twitter about the scene, the food, and if it’s really worth $65,000,000. Pics to come as soon as they are posted! There are only two other listings in the MLS that are higher priced than this. One for  $72m and one for $75m! Tomorrow I’ll post write about the top 5 most expensive listings in the area.

I saw a few things this week that made me pick up the phone and call clients telling them about some great opportunities within the Malibu real estate market. Yesterday on caravan, I was wowed by a home for sale located on Ramirez Mesa. This is a gated development of roughly 20 homes that sits above Paradise Cove and has great ocean views. The home for sale is almost 6000 sq.ft., nicely remodeled in a Tuscan/Mediterranean style, had 5 bedrooms ,a pool, and a three car garage. The home had views of all on Santa Monica Bay and has room for a vineyard. It’s current asking price is $3,950,000, which in my view makes it one of the largest, and nicest, homes available under $4m. I even think there is some room on the price! Call 310 699 8428 for an appointment to view it.

Listed with Chris Cortazzo

The other great deals in general are showing up in the condo market. I think we may see some condos closing at $350k or less in the next few months. There is one listed at the Malibu Gardens for $389,000! At that price it makes a great rental for Pepperdine students or just a weekend crash pad to enjoy the beach.

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Terra may very well be the best restaurant in Malibu…period. I ate there a few nights ago and was blown away by a 6 course sampler that Chris had prepared for my wife and I. We started with a Crab fritter just to get the taste buds primed. Next came a seared cajun albacore appetizer with a miso wasabi dressing on mixed greens. Then we were presented with a mixed variety micro green baby beet salad with a shaved,   hard, goat-milk cheese and roasted pecans. Going for the fall flavors we next feasted on a wild mushroom risotto with truffle oil. Earthy, organic, and sweet with the unusual tingle in the palette from the truffle oil. The main course was a pounded filet mignon with a balsamic reduction and melted butter with blue cheese accompanied by some large wedge garlic fries. That steak has to be Malibu’s best kept secret! I have never had anything like and woke up the next morning thinking about it and every bite I had the night before. The texture  was divine if you love sashimi or very rare meat.  For dessert we finished the night with a blueberry tart with fresh whipped cream. Not to sweet with small ripe blueberries on top of a fresh crust.
Call ahead for reservations! Terra Malibu

Come out to Surfrider to witness the spectacle of the 2009 Malibu Halloween Surf Contest. This is going to be an epic surf event. The contest will consist of a one hour paddle out, Halloween costume, surfing expression session. Dress up in your most ridiculous outfit that was surely not made to be surfed in and ride some of the best waves in the world. Shortboards, longboards, SUPs, and sponges welcome. Bragging rites to whoever pulls off surfing in the most outrageous costume. This event is free, anyone may participate.

By 8 am this morning I had 2 clients emailing me asking what the story was with a new listing in Malibu Park for $699,000 that once was listed at $1,800,000!!!!!!. This is not a condo, but a half acre, ocean view, one bedroom home from 1949. They got the alert at 6 am this morning just hours after it was inserted on the MLS. When they checked their email they saw the hot deal and were among the first to know about it. The reason they got it so fast was because they had me create a “Listing Boo”k account for them where they can keep track of all real estate activity in Malibu. With this account, clients have full access to the MLS and can even change criteria to fine tune their searches. If you are serious about watching the market, finding new listings, and even getting price reduction updates on marked homes, then email me with what you are looking for an consider it done!

About the house. It’s small and permits are pending. One bedroom and 2 baths on roughly 1/2 acre with ocean view and near Malibu High School. The house is being auctioned off on 11/14/09. Here is the MLS 411. Call me for info 310 699 8428 or email me .
“**AUCTION**AUCTION**60% *OFF* Original List Price of $1,795,000**11.00*Sold on site 11/14/09 @ 11am**Original house first built in the 1940′s. Foundation, utilities, landscaping, gates and fencing are in. Permits are pending, for a new home. Charming little guest quarters occupied by tenant. A very special setting with an exceptional ocean view. Lushly landscaped property has mature avocado, lemon & orange trees.”

“Incredible,” “One-of-a-Kind,” “I feel like I’m in another country”… These were just a few of the statements heard at the broker’s open house in Malibu on Thursday. The Spanish-style villa, designed by Malibu’s own Michael Lee, sits above a dramatic coastal section of shoreline near El Matador Beach. Formally know as the Buddy Hacket home, Lee transformed the 60’s contemporary structure into a home that looked as though it came from the Basque coastline circa 1700’s! There is a seaside, stone amphitheater complete with stage thats sits above a shallow pool, a design from ancient Rome where scenes of naval warfare could be reenacted. There are modern elements, like the high-end freestanding tubs, set amongst reclaimed vintage wood and a minimalist kitchen with pantry separated by a salvaged barn-style sliding door. The exterior has large stone decks with whitewashed stone planters holding mature olive trees. You’ll even find hand hewn rock troughs with herbs, decorative terracotta vessels, and a small bathing terrace closer to the waves. If you are in the market for an exceptional home and can be qualify for the $19,000,000 price tag , contact me for a private showing. There is no other home in Malibu that will give you the feeling of being on vacation in another country!
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Listed with Ellen Francisco CB Malibu