Jul 08 2008
Malibu Beach House Sells At Close To Half Of Original List Price
Deals are to be had once again in Malibu, even on the beach. Here is a home that hit the market in late 07 for $6,000,000. The home is located in the guard-gated enclave knows as the Malibu Cove Colony near Geoffrey’s restaurant. The home needed some work but has great views of Point Dume, is in the Paradise Cove Bay where it lies protected from the afternoon northwesterlies, and is in a neighborhood of $5-6 mil. homes that rent for $40-60k per month in the summer. Over the course of 11 months, the home had 5 major price reductions and has just closed at $3,500,000.
Check out the listing history below.
The home was listed with Sandra Miller
Let’s wait and see if this is just a first sign of the real price declines trend or just a fluke with a shady background. The price is stunning and it’d be interesting to see why the seller decided for such a radical drop. Time will tell. Cheers, Ira
Wow what a beautiful place. I enjoy the statics that you placed I always enjoy reading how places are doing compared to where I am, it helps me see a new prospective on things. This was great thanks.
homebuyerfirst
http://first-time-home-buyer-s.com