The Malibu Real Estate Blog

I see this all the time….A major Malibu estate goes on the market at a high price and the neighbor a few doors down says “Hey! If he can get that, I should get this!” and will list their home for sale. It’s not a bad idea either if one house looks like a great deal and the other is priced a lot higher.

That’s my guess with what happened with the two major bluff estates above Paradise Cove competing for buyers right now. The first property at 28060 PCH came on the Malibu real estate market a few month ago at $55m then took a $10m price chop (just imagine that conversation between the listing agent and owner). Just a few days ago the property at 27740 PCH, just a few lots down, came on the market at $42.5m. Both are on similar lots and have homes between 11,000 and 12,000 sq.ft. They are both trophy properties by Malibu standards and sit on some of the most expensive real estate on the planet.

You can bet buyers in that price range are going to be looking at both properties for sale. Both homes are distinctively different in styles so it will be interesting to see which one sells first. Which one do you think will sell faster, the Spanish estate at 28060 or the traditional home at 27740? Check out the photo tours and decide! Comments about the price?

Like to see either home for sale? Call 310 699 8428 for a showing but be prepared to prove you can actually afford the properties! Unless you are crazy famous, it’s going to take more than “Just Google me” to get in!

Click here for photo tour at 27740 PCH

Click here for photo tour of  28060 PCH

Both places listed with Chris Cortazzo

Just got back from caravan with a very full stomach and a bunch of blog ideas about great deals and over priced homes! I’m going to keep it positive today and tell you what I think is the best deal out there within the Malibu real estate market.

The home for sale over at 6323 Via Escondido really caught my eye this morning. It has to be the best value for a home over 5000 sq. ft. in Malibu. The home is listed at $2,595,000 with 6 bedrooms, a large grassy area with room for a pool, has numerous outdoor decks,……and is actually a nice, well done, newer home. Other homes in the price range are fixers! With 5800 sq. ft., located within walking distance of a private beach and private tennis court, you can see why I think this place is going to sell. The home is multi-level with 3 stories and would work great for someone with a bunch of kids, a maid, and parents who need a few room to escape too for peace and quite. Nothing under $500 a sq.ft. can come even close to what this home offers. Check out the slide show below and call to make an appt now because I’m betting this one sells quick. 310 699 8428.

Side note…..The agent throwing the caravan today did it right. He hired The Farm from Beverly Hills to layout a great spread. The food was the best I’ve seen in months and is the only way to make sure a lot of agents show up. By 11am he had over 40 agents signed in to the caravan. Next time you interview an agent for a listing, ask him what his plans are for caravan and see if they even mention putting out a nice spread. This agent had lox and bagels with all the proper toppings. A real cheese plate with imported bries, moldy cheese, and cured olives,….. not those crappy costco ones with three colors of cheddar I see at some open houses. There was a dessert bar with scones, croissants, and danishes…again not from Entimens, but home made. Here’s a pic of the spread.

My wife called me today from Whole Foods in Santa Monica sounding like she had died and gone to food heaven. “They’ve got this dessert bar where you can even get the smallest slice of apple tart you want – they’ll weigh any portion, even tiny ones, and the girl told me that they are going to be opening up a store in Malibu!” I’ve heard this flying around now for about 12 months so I put a call in to corporate to see if I could get some intel and the low down. My guess is that this is going to happen and they’ll lead the pack compared to the other stores in Malibu selling organic, virgin, glacial ice water, blessed by the Dali Lama himself tofu for $25 a pound. If that La Paz shopping center ever gets built, that’s my guess as to where it will end up being located.

Next on the rumor mill is Chipotle. Several people around town are saying that they are taking over the Mail Boxes Etc. spot next door to Ralphs market in the Civic Center. This would be a good spot for it seeing that the Subway and Malibu Yogurt store a few doors down are swamped with Pepperdine Students at all hours of the day. I think the manager at Subway once said they do 500-800 subs a day there. I bet they do around $200k a month so I can see why Chipotle wants a piece of the action. Fast, tasty, affordable Mexican food may prove to be some real competition like La Salsa down the road.

Hey locals…what have you heard?

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There’s has been a big uptick in searches for mobile homes in both the Point Dume Club and Paradise Cove. The easiest way for me to help you is to send you all the listings from both. Here is the quick low down on the high end….
You own the mobile home but pay space rent to the owners of the park. You can lease out your mobile home at the Point Dume Club but not at Paradise Cove. Both have easy beach access but if you surf, the beach at Paradise Cove is better.
Email Me to get the list of all available mobile homes for sale in Malibu.
Click this link to be taken to an MLS search for all Mobile Home in Malibu.The user id is x55032 and the password is trailer


Image courtesy the MLS listed with Madelaine Kolisny and Kirk Murry

I just got back from showing what I believe to be one of the best ocean view condo deals I’ve seen in the last 5 years! A third row, 2 bedroom end unit (only one shared wall) came on the bank owned/REO market yesterday for $378,000. Here’s the low down on this Malibu condo for sale…Two other units are listed on the third row and both are listed over $570,000. Those units don’t even have close to the ocean view that this bank owned one has. Not only does the bottom floor have a good ocean view, but the master bedroom has an ocean view that goes from Palos Verdes to the Point Dume headlands and you can see most of Catalina. This unit is turn key ready too. The carpets were clean, the walls were white, there were no funky smells, and the kitchen was recently remodeled. I did a quick look in the garage and it appears that the garage door is new and so is the water heater. Even the washer and dryer is still there! The bank will be looking at offers in 3 more days so you still have time to look at it.
One last thing…the pictures do not do this place justice…..it’s much nicer than the pictures in the mls.
Call for a showing anytime 310 699 8428

20, 19, 18, 17 …..No, it’s not a count down to a rocket launch at Cape Canaveral. It’s the millions of dollars being chopped off the asking price of a home in Malibu. The beach front estate, located on the Encinal bluffs, started out at $20m and is now bank-owned and listed at $8.9m! I don’t think the countdown can go too much lower as the home itself is very nice and comes with an additional, separate apn, that is advertised as having “potential for future development.” From the MLS “OVER $2,000,000 PRICE REDUCTION!!! BANK OWNED FORECLOSURE! OUTSTANDING OPPORTUNITY TO OWN A BANK OWNED BEACH FRONT REO WITH A PREMIER LOCATION ON THE ENCINAL BLUFFS IN MALIBU. FANTASTIC LOCATION PROVIDES SENSATIONAL COASTLINE AND OCEAN VIEWS WITH TWO LEGAL LOTS TOTALING OVER 1.6 ACRES. EXPANSIVE DECKS WERE BUILT TO ENHANCE THE ENJOYMENT OF THIS OCEAN FRONT OASIS. THE LOWER DECK OFFERS DIRECT AND PRIVATE ACCESS TO THE BEACH! RECENTLY REMODELED/REBUILT, THIS PRIVATELY GATED, SINGLE LEVEL ITALIAN VILLA BOASTS SOARING WOOD BEAMED CEILINGS, BEAUTIFUL LIMESTONE FLOORS, AND AN OUTSTANDING GREAT ROOM FOR ENTERTAINING. THE RESIDENCE LIES ON THE LOWER (BEACH FRONT) OF TWO LEGAL PARCELS, WHILE THE UPPER PARCEL IS CURRENTLY VACANT, AND HAS POTENTIAL FOR POSSIBLE FUTURE DEVELOPMENT. A TRUE COMPOUND OPPORTUNITY AWAITS TO OWN THIS UNIQUE OCEAN FRONT PROPERTY THAT IS PRICED TO SELL NOW!”
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For seriously straight talk about actually buying or selling a home in Malibu, call me on my cell at 310 699 8428 anytime 7am to 10pm.


listed with Jordan Cohen