Apr
28
2011
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It’s on my real estate radar as a best buy, and if you area looking for Malibu West homes for sale under $1.3m , it should be on yours too. I spoke with another agent this morning who lives in this neighborhood. I asked him what he thought the best buys were and he also pegged this one.
Here is the skinny from the MLS “ NEW LISTING IN SOUGHT AFTER MALIBU WEST AREA. LARGE SINGLE LEVEL 5 BEDROOM, 3 BATH HOME NEAR THE END OF A CUL-DE-SAC. HIGH OPEN BEAMED CEILING IN LIVING ROOM, SOLID OAK PLANK KITCHEN FLOORING, GREAT FLOOR PLAN FOR FAMILY AND ENTERTAINING. WALK TO PRIVATE BEACH CLUB OR TENNIS CLUB. SEASONAL CREEK, MOUNTAIN VIEWS, LARGE PRIVATE BACK YARD WITH FRUIT TREES. PRICED RIGHT!”
Note….if you are unfamiliar with the area, this is hands down the best neighborhood in Malibu to live in under $1.5m. The beach club and Halloween party are two really good reasons to live here. Schools are right around the corner too.
Call for a showing 310 699 8428. That’s my cell and you can call for any questions about Malibu……even where to eat.
Listed with Kerry Obrian
Apr
28
2011
Just ran a quick check and there are 30 properties on the short sale bank owned real estate list. The properties range from a $89,000 piece of land described here “REO. Watch the ships! This ocean and canyon unobstructed views will take your breath away! Land value – a recently built house was probably destroyed by fire. Old foundation and meters are ready for your new home to be build quickly! An estate property is being build across the street. Buyer to investigate all aspects of the property.” to a $6.9 chunk of dirt up on Kanan that is “A remarkable offering of 455 acres in a prime location – just minutes from the 101 and Malibu’s beaches. Located in the heart of Malibu Valley wine region, this acreage consists of seven lots and is out of the Coastal Commission’s jurisdiction. In addition, two of the seven parcels (totalling 51 acres) are zoned RR5 (Recreation Resort) which allows for non-residential uses. With a creek, mountain vistas, beautiful mature trees, roads, meadows, mixed zoning, subdivision possibilities”
The hottest deals right now are the condos. Prices are low enough that quickly converting the unit in to a Pepperdine rental should makes sense.
Email Me to get the list of bank owned REO homes.
Apr
14
2011
Brand New to the MLS this morning is a mobile home in Paradise Cove with an asking price of $2,550,000! Sound outrageous? Just a few years ago, someone paid $2,450,000 for a spot down the street with views not quite as good as this new listing. What is unique about this particular offering is that this mobile home sits on what many would argue is the best lot Paradise Cove. The home is situated on a section of bluff that overlooks the Pacific Ocean with views towards Santa Monica Bay which takes in an amazing view of a beautiful, long stretch of sandy beach with waves crashing on the shore. A few hundred yards down the beach are a few more listings for sale with the same views…..but those will cost a little bit more….one at $45m and one at $55 million!!!!!!
Here’s my take: Let’s say you have $2.5m to spend in Malibu. For that price, you can get a pretty nice place in Malibu Park, but chances are that won’t even include an ocean view. More likely, it would buy you a small 4-bedroom ranch house that has been remodeled with about 3500 sq.ft. But if you want the ”Malibu Beach lifestyle”, and can’t afford the going rate of $6m for a place on Malibu Road, then this is probably your best bet. You’ll be enjoying the sight of morning sunrises over the Palos Verdes Peninsula and walking on the same private beach that many of the world’s most privileged people enjoy.
The home has 2 bedrooms and 2 baths with about 2300 sq.ft. of space. On top of the purchase price, you’ll need to pony up over $2000 per month for space rent. I guess that’s the going rate for the view and the security of never having to worry about a tornado flattening your home!
From the MLS “ THE ULTIMATE OCEAN VIEW BLUFF LOCATION IN PARADISE COVE. INSANE COASTLINE, WHITEWATER OCEAN, AND MOUNTAIN VIEWS. IT ALSO PROVIDES TOTAL PRIVACY FROM THIS NEWER 2BDRM, 2BTH HOME. OVER 2,300 SQFT. OF OPEN LIVING SPACE, PLUS 2 CAR GARAGE AND PARKING FOR 3 MORE. HUGE LANDSCAPED LOT, PLENTY OF OUTSIDE GARDEN AREAS, AND PRIVATE OCEAN VIEW DECKS.”
listed with David Carter
Apr
12
2011
Only in Malibu….Yep…….. $390,000 for the right to park a mobile home at Paradise Cove. A new listing hit the MLS this morning stating that for $390k you can buy the rights to park a 1385 sq.ft mobile home in what may be the worlds most expensive trailer park. Once you pull your D-Lux “double or triple wide” home on wheels you’ll still have to pay space rent which can run $1500-$2500 per month. Good news is that the listing states that the owner may carry paper until you buy your manufactured home on wheels. Just to put things in perspective, there have been several sales in the $1.5m t0 $2m price range in the cove over the last several years. I think I need to pitch an MTV show called “Cribs on Wheels” or “Mobile Cribs”.
From the MLS “Vacant space in the upper section of Paradise Cove w/ Park approved plans for a manufactured 3BDR 2BA 1385 SQ. FT. home. Owner will carry a first until the new home is brought in and occupied. Located on a quiet street near the park and beach trail. Great opportunity to get into the Cove at a great price!”
My take? A pretty fair price considering that most of the time you need to buy someone else’s junky old mobile home, have it torn down or dismantled, then pull in your new place. At least with this deal, a lot of the headache factor has been already taken care of. Just pick out a home online, click “buy it now”, have it delivered, then buy a golf cart with surf racks and call it a day.
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.
Apr
11
2011
There’s a lot going on out here in the Malibu so here’s a quick run down on the real estate scene.
- It seems as though a bunch of mobile homes hit the market in the last 2 weeks. Prices are dropping too with the added inventory and competition. I think there will be a downward trend in prices on the less desirable units (one without ocean view or close to the highway)
-The condo market has seen a lot of demand with short sales and foreclosures. Numerous condos are selling at HALF of their high’s from three years ago. When one comes up at a great price 4-5 offers will come in.
- The most difficult segment to sell is homes from about $3.6m to $5.6m. Homes in this price range are just sitting. If it’s on Point Dume with a beach key it has a chance.
-The upper end is active. I closed an $11m deal in Dec. and high end agents are busy with showings in the $6m and up range.
-Anything that looks like a McMansion is going to be tough to sell. There are several spec homes out here that will sit until the price makes the sq.ft attractive to someone who likes this style.
- Summer rental market seems slow. If you have a beach home for lease, be grateful if you get a one or two month tenant. The phone just isnt ringing like it used to for 3 month rentals.
-There are several high end homes in the $40m plus range that have had large price cuts….like, $10m price reductions in the first round. See below for two that recently got the price chop.
Email Me to get all properties in Malibu on my Bank Owned/ Foreclosure/ Short Sale list. There are 40 right now within the Malibu real estate market. You can run your own reports anytime on the link above called Foreclosures.
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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.
