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This is a smoking deal! A Malibu Park home for sale under $1.2M! This bank owned home has 4 bedrooms and is in a great, family friendly area of Malibu near the high school. This Malibu home for sale is offered at $1,169,500 and I’ll be willing to bet that there will be at least three offers on by the end of next week. If you want to live in Malibu, make your move now, and take a run at this great home.
From the MLS “BANK OWNED REO! FANTASTIC HOME JUST MINUTES FROM ZUMA BEACH. PROPERTY WAS RECENTLY REMODELED AND SHOWS AS A 4 BEDROOM 2 3/4 BATHROOM ESTATE. THIS PROPERTY HAS VAULTED CEILING ENTRY, HARDWOOD FLOORING, REMODELED KITCHEN, NICE GATED YARD, STORAGE SHEDS, SPORTS COURT AND SO MUCH MORE. PLEASE CALL FOR MORE DETAILS. FANTASTIC LOCATION!”
CALL FOR A SHOWING BUT DONT WAIT. MALIBU REAL ESTATE AGENT MIKE GARDNER 1-310-699-8428
Courtesy of Jordan Cohen Re/Max Olson & Associates,Inc.
What you need to know about Malibu bank owned homes for sale.
There are bank owned homes and short sales. They can also be called REO’s and foreclosures. One is a pain and one can be really easy and you have a good chance of closing the deal if you have cash. Bank owned homes and condos can close in a week or less. The bank is ready to get it of it’s books. With the last several deals I’ve wrote on bank owned homes, the bank told the listing agent to only send the highest cash deal. One condo last month had 5 offers 4 of which were cash. If the deal appears to be good to you, there are 10 others that think the same way.
Short sales are a different animal. The banks may not get back to you for months and you are stuck in limbo watching other deals go by. If you have nerves of steel and patience like the Dali Lama, then go for that short sale. If you want answers and have cash, go for the bank owned deal.
One last point! You need to work with an agent that makes sure you get the info fast. I just wrote an offer on a bank owned condo and it was my client who got the first offer in. We got there first because I relentlessly called the agent every day for a week and it was on my radar well before everyone else. Also, you need to be set up on an auto notify system that gives you morning emails about market activity. You can also check out or tab up top for foreclosures.
You can email me write now requesting the list of everything on my Malibu Bank owned list.
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.
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!”
Like this article??? For the “Low Down on the High End” in Malibu subscribe via the RSS feed button on the right or here. We break news like this all the time so subscribe and be the first in the know.
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
Deal alert! New to the market just a few hours ago…..4 bedroom condo for sale in Malibu for $370,000! Here’s the low down….Bank owned unit located in the Malibu Villas near Paradise Cove. Appliances were stripped out and it needs some fixin, BUT it’s a nice unit with ocean views and a short stroll to the beach. It’s on the first row which means you’ll get some PCH noise, but rent the place out to a bunch of Pepperdine kids who probably won’t even hear it, sit back and collect rent checks! This is the least expensive 4 bedroom condo for sale in all of Malibu.
8:38pm update. Offers are starting to come in but there is still time, this weekend to write. The kitchen has nice cabinets, a nice stainless sink, and really nice countertops. The master bath has a spa tub and radiant heat floors. There are two 80 gallon new water heaters in the garage.The bad…..all appliances gone, toilet is missing, faucets are gone, and even a few light fixtures are gone. There are some cracks and things in the walls too. Still, it would be a great rental for college kids. My guess is that it going to take 10k-30k to get the place livable again.
Call for a showing. I can show it any time and I’ve already got two scheduled for today. 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.
Like this article??? For the “Low Down on the High End” in Malibu subscribe via the RSS feed button on the right or here. We break news like this all the time so subscribe and be the first in the know.
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 D. Carroll Prudential Malibu
Created Wednesday 11:03AM 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.
Like this article??? For the “Low Down on the High End” in Malibu subscribe via the RSS feed button on the right or here.
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.
We just added a new section to the Malibu Real Estate Blog that will give buyers an incredible new tool when searching for foreclosures, bank owned homes, or auctions in Malibu. Click here to try the new google map based search. Here are some screen shots from todays reports.
There are currently 15 Malibu homes for sale on my bank owned, REO, or short sale list (up from 14 last week). All you have to do is email me and I can send you the list. E-mail Me! I will also sign you up for an alert program that will give you morning updates on any property that hits the market that’s distressed. Wait, Watch, Then Strike!
The best deal out there right now for a “family home” is a house on Bridella. It’s a 5 bedroom home for $749,000! Call 310 699 8428 for a showing or to talk about Malibu homes for sale.
There are currently 14 Malibu homes for sale on my bank owned, REO, or short sale list. All you have to do is email me and I can send you the list. E-mail Me!
There’s a deal to be had if anyone is looking for a large estate perched on a bluff right above the water! The property at 33730 Pacific Coast Highway was listed in 06 at $20,000,000 and has now become a bank owned sale at $10,999,000. That’s a serious half off sale! The home has a bonus parcel behind it with it’s own building potential. The property is located about half a mile south of Leo Carillo and has stairs to the sand. There are numerous surf breaks located within paddling distance of the home. Here’s he MLS info” ***REDUCED AGAIN! *** THIS BANK OWNED ESTATE IS PRICED TO SELL. BEAUTIFUL GATED ESTATE LOCATED ON THE ENCINAL BLUFFS. THIS BEACH HOME HAS RECENTLY UNDERGONE THE TRANSFORMATION INTO A STUNNING ITALIAN COUNTRY BEACH ESTATE CONSISTING OF TWO LEGAL LOTS TOTALING OVER 1.6 ACRES. POSITIONED TO TAKE FULL ADVANTAGE OF THE PANORAMIC OCEAN AND COASTLINE VIEWS WITH EXPANSIVE BEACH SIDE DECKS FOR ENJOYMENT AND ENTERTAINING. TAX INFORMATION SHOWS THE RESIDENCE AS A 4 BEDROOM AND 3 BATH HOME, ACTUAL CONFIGURATION IS 3 BEDROOMS, 3.5 BATHS AND AN OFFICE/DEN. THE RESIDENCE IS LOCATED ON THE LOWER OF TWO PARCELS WHILE THE UPPER PARCEL MAINTAINS IT’S OWN DEVELOPMENT POTENTIAL. THIS IS A VERY SPECIAL PROPERTY AND PRICED EXTREMELY WELL AS A BANK OWNED PROPERTY”
Call 310 699 8428 for an appointment to view the home or any other bank owned homes in Malibu.
Here’s the Low Down. A Malibu home seen on TV’s Million Dollar Listing is headed for auction on May 22. This type of home for sale is much easier than the headaches of the bank owned, REO, short sale type. This 5600 sq.ft.home is located in my neighborhood, so I know it well, and is located in a private, gated canyon with winding streams, oaks trees, and a few minutes walk from the beach. Continue Reading »
What you need to know about the Malibu Real Estate market.
Whenever an agents list a property that is “distressed” they must disclose it in the MLS. There are several categories that they can check off such as bank owned, REO, short sale, or short pay. Not only is it the law, but it’s useful in that when I log on to do a quick search for Malibu homes for sale that have those designations. Today’s report shows 17 properties in this category and some of you reading this will want it!
If you are a bottom dweller looking for a steal, you may need to look in Vegas, Florida, o Palmdale… our market is still holding up fairly well!
Contact me for that list! Email Me
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Get your tweet on. I post live reports from the real estate field as they happen. Find me on Twitter @malibure
Want daily emails showing price reductions in Malibu? Email me asking for “Listing Book” for access to the MLS Malibu agents use. subscribe to my RSS feed!If you have no clue what an RSS feed is click here for a quick video.
The Carbon Mesa home for sale mentioned a week ago on this blog had offers on it right away and is listed as ” Backup” status on the MLS. The Malibu home for sale was once listed as high as $2,950,000 and hit the market at $1,141,000. Had you been signed up for my Listing Book program you would have had an early morning email the day it came on the market. Email Me if you like to be this program. In the email tell me what your price range is and what you are looking for.
Breaking News!!!!! A Carbon Mesa Home (area near the Malibu Peir) just hit the Malibu Real Estate market this morning as a bank owned sale. It has 4 bedrooms, ~2600 sq.ft., an ocean view, and is on almost 2 acres for $1,141,000.
The list of 19 Malibu homes and condos for sale that are in the category of REO, bank owned, distressed, foreclosure, or short sale is available to those who request it via email. Email If you consider yourself a serious buyer for Malibu Real Estate do yourself a favor and contact me. I will not only send you a list of homes available now, but will also let you know of homes I can get you in to that aren’t listed or are about to be listed!
Without giving to many details I can tell you that one of the frequent readers of this blog was first to be notified about a huge, ocean view, home for sale in the distressed (short pay) category. He came out right away and now has an offer on a home, that if it gets accepted, may be the deal of the year in Malibu.
A quick search of the MLS within the Malibu Real Estate market shows that there are are total of 14 homes for sale that fall within the distressed category. Home range from a $6m beach house on Sea Level to a $399,000 condo at Malibu Villas. The smart investor or opportunist might just want to email me for that list of homes! Email Me
Want to be in the know about smoking deals? Sign up for the RSS feed. The second I publish, you get an email.
Get your tweet on. I post live reports from the real estate field as they happen. FInd me on Twitter @malibure
Want daily emails showing price reductions in Malibu? Email me asking for ” Listing Book” for access to he MLS Malibu agents use. subscribe to my RSS feed!If you have no clue what an RSS feed is click here for a quick video.
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.”
A condo has surfaced in the Malibu Villas for $499,000 on the third row. That’s a crazy price and worth having a look at if you are sending some kids to Pepperdine for a few years. I don’t think anyone on the upper rows of Malibu Villas ever thougt they’d see a condo ASK under $500,000. If you’d like to search the Malibu Condo Market click this link.
I’ve seen a few great deals pop up this week and the cash buyers are starting to come out of the wood work. If you want to discuss where the deals are at give me a call. There is a lot more to find out about a home than just asking price. I have the ability to look in to public records and see what is owed against the house, and often have a sense about what the seller or bank is willing to take. Call me and get the low down on the high end.
Update! The home quickly went in to escrow with upwards of 5 offers, several of which a rumored to be all cash. My guess is that it will close above asking but someone will walk away with a deal. You have got to be ready to pull the trigger when these deals pop up. saw several this week get hit with multiple offers. Call to discuss.
Showed the house today and it is hands down one of the best buys in all of Malibu right now. The ocean view was really good and the roughly 3 acres it sits on is mostly flat or gently sloped. Call before its gone. 310 699 8428
This may be the least expensive home with an ocean view AND over 6000 sq.ft! The home is located up a gated street very close to Malibu Park and Point Dume. It has great views and a large lawn. It’s on the short pay list and was reduced from $2,799,000 to $2,200,000. The MLS has it’s sq.ft. list at 6,467. That’s what I would call a best buy in Malibu. Call for showings 310 699 8428
Listed with Manuel R. Ramirez
There are currently 16 properties for sale in this category or REO. There is one beach house at $5.9m and a large, 7200 sq ft home for $3.9m in a gated community with expansive ocean views. There are also a few condos, and some “challenging to build on” pieces of land for sale. E-mail Me to be on the list!
Update! You snooze you loose! Already has offers and is pending in status. You gotta be quick on these!
A new bank owned home has hit the Malibu real estate market today. This 4 bedroom home is located just North of Broad Beach, has a pool, ocean views, is in a gated enclave, and is very close to the beach. Easy to show. $1,649,000
MLS description
” BEAUTIFUL 4 BEDROOM HOME SET IN A TROPICAL ENVIRONMENT. GATED ENTRY LEADS TO PRIVATE ENCLAVE JUST STEPS TO THE BEACH. FEATURES INCLUDE: LIVING ROOM WITH FIREPLACE AND WALL TO WALL WINDOWS TAKING ADVANTAGE OF THE OCEAN AND SUNSET VIEWS. WRAP AROUND BALCONY OVERLOOKS THE BACKYARD WITH STONE POOL AND SPA WITH PLENTY OF OPEN GRASS AREA. GORGEOUS INTERIOR AND EXTERIOR FINISHWORK WITH LOTS OF WOOD AND NATURAL STONE. GUEST QUARTERS WITH FIREPLACE, PRIVATE BATH AND OUTSIDE ENTRANCE. WINE CELLAR ETC.”
Here’s a good Malibu Real Estate deal for under $1,000,000. A house up Latigo with over 3000 sq.ft., 4 bedrooms, 3 baths, and a 2 car garage. The home has great canyon views and contemporary architecture. The home is listed for $999,000, down from $1,250,000. Call for a showing. 1 310 6998428
The home is listed with Michael Cunningham of PRapf
So far about 20 people have emailed me requesting info on the above mentioned types of sales within the Malibu Real Estate market. If you are searching for one in Malibu or Topanga, just send an email requesting the list and give me a price range so I can put you on a watch list. There aren’t a ton but I am seeing some good deals pop up. Keep in mind that there are plenty of others out there that have the same idea of jumping on something when it comes up. The last condo closed up almost 10% above asking! So be ready when opportunity knocks!
There are currently 16 properties for sale in this category. There is one beach house at $5.9m and a large, 7200 sq ft home for $3.9m in a gated community with expansive ocean views. There are also a few condos, and some “challenging to build on” pieces of land for sale. E-mail Me!
Check out past articles on Reo, Bank Owned, Short Pays.
So far about 20 people have emailed me requesting info on the above mentioned types of sales within the Malibu Real Estate market. If you are searching for one in Malibu or Topanga, just send an email requesting the list and give me a price range so I can put you on a watch list. There aren’t a ton but I am seeing some good deals pop up. Keep in mind that there are plenty of others out there that have the same idea of jumping on something when it comes up. The last condo closed up almost 10% above asking! So be ready when opportunity knocks!
There are currently 16 properties for sale in this category. There is one beach house at $5.9m and a large, 7200 sq ft home for $3.9m in a gated community with expansive ocean views. There are also a few condos, and some “challenging to build on” pieces of land for sale. E-mail Me!
Check out past articles on Reo, Bank Owned, Short Pays.
The skinny!
Prices range from $700k in Coral Canyon to $6m on the beach at Sea Level near Broad Beach. Send an email and I’ll send the current list.
Here is a 6000 + sqft. homes for a $3,150,000! That’s about $500 /sq.ft…….a great deal in Malibu! Call 310 699 8428 or email for details. E-mail Me!
Check out past articles on Reo, Bank Owned, Short Pays.
Update! Unit went in to multiple offers right away. Beach Key and Whitewater views are hard to resist at that price! I will publish the final closing price when it comes out. Be ready to pounce on the next great deal!
A new listing has hit the Malibu Real Estate condo market this week and if it closes at anything near its asking price, other sellers may need to rethink their asking price. The 2 bedroom condo on Heathercliff was originally purchased in 2006 for $850,000 and has been listed this week for $427,900. Yes, almost a half-off sale and likely to upset many nearby condo owners when it becomes a comp. I showed the property this morning. It was surprisingly clean and had white water views of Zuma beach. Good enough views that your surfing buddies will be calling to get the early morning swell report from you. Other bonuses include a beach key, walking distance to Lilys Burrito Shop, Pavillions, and Zuma Beach. The unit is bank owned and likely to sell fast. Call for more info 310 699 8428
Listed with Robert Glinert Coldwell Banker
First off, Sea Level is a great beach. It is located just up from Broad Beach and has a cool, mini-community vibe to it. Residents leave kayaks and surfboards on the sand without any worry about someone stealing them. The 4th of July party there is huge and the beach is in better shape than Broad Beach right now. This could go out at a good price and is worth seeing if you are in the real estate market for a beach house in Malibu. Places like this also rent out for top dollar in the summer months. Listed at $5,950,000.
From the MLS
BEACH FRONT LIVING- LIGHT, BRIGHT AND A THIRD LEVEL DEN THAT OPENS TO VERY LARGE SUN DECK. GREAT MASTER SUITE ON THE WATER. GATED COMMUNITY. SELLER HAS CA. REAL ESTATE LICENSE. SHORT PAY SUBJECT TO SELLER HAVING LOANS ACCEPTABLE TO SELLER.
For Questions about Malibu real estate, leases, vacation rentals, and where to eat, call Michael Gardner Prudential Malibu Realty Cell: 1 310 699 8428.
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