The Malibu Real Estate Blog

There’s a skit on SNL/Hulu that we watch called “What Up With Dat”. It’s silly and doesn’t make a ton of sense but the catch phrase get’s so stuck in your head you to will be saying it to your spouse like I do. My wife will say, “The dog just jumped on the bed with dirty feet!” and I’ll reply, Continue Reading »

A few years ago you’d be hard pressed to find anything on Malibu Road for under $6m. The Malibu real estate market has changed, so if you’ve been on the sidelines now may be the time to pick up that Malibu beach house you’ve always wanted. Currently asking $5,400,000, the homes features  expansive decks, a third story guest nook or office, and a two story open ceiling living room. Check out the master bath with it’s period correct stained glass and deep, round, swingin spa tub. At this asking price, there is a legitimate chance that it could sell at under $5m. Call for a showing 310 699 8428.

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
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If you are looking to lease or rent a beach home on a private, guard gated street, this home on Malibu Cove Colony may fit the bill. Point Dume, Paradise Cove, Geoffrey’s, and Latigo can all be walked to from this beach house. $19,500 per month. Call for showings 310 699 8428

Listed with Isabell Miller and Shelly Yrigoyen PR Malibu

“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

I going out on a limb here an claiming that the later half of 09 will be the “bottom of the market” for Malibu real estate.

Why?

• Condos have been slashed. The unit for $499k on the third row of the Malibu Vilas is a significant chop and a great value.
• I’ve seen a few Malibu beach houses sell at close to half of their original asking price.
• There are real investors out there that know it’s the right time to buy and they are coming out of the woodworks with cash. Trust me on this, I get 3 calls a week from all cash buyers looking for “deals”
• I’m getting word from agents in the valley that there are multiple offers hitting homes that are priced right and I think the C.A.R. numbers will be very positive.
• One of our Santa Barbara agents reported a significant upswing in transactions on the lower end in SB ( $500k-$1m)
• There’s an overall feel from buyers that we are coming out of the recession and that it’s time to look for a home.

With positive stock market news, talk of coming out of recession, buyers looking for deals, I’d say now is the time to seriously consider that purchase you’ve been putting off.

I would love to hear your comments about this.

Condos have come down in price and there are so many units on the market that your bound to find a seller who will let one go at a great price. If you are a Pepperdine Parent and have a student heading to school for four years, now would be a good time to consider picking up a unit.

There are few great deals out there on beach houses that have been on the market to long and can be purchased at 30 to 50% off the original asking price. Long term, there are few real estate investments as good as a Malibu beach house, especially if you plan on renting out when you aren’t using it.

There are multiple large estates that were in the $5-$6m range that are now selling in the high $3m to low $4m range.
Click here to search for listings.

I’m trying out some new links that will enable buyers to search Malibu in different price categories. Let me know what ya think! This is just the test run and if you like it let me know. I’ll later make it permanent in the Malibu MLS search area.
SEARCH MALIBU REAL ESTATE
Up to $1,000,000
$1,000,000 to $2,000,000
$2,000,000 to $3,000,000
$3,000,000 to $5,000,000
$5,000,000 an above

It’s not often we see a beach house for sale on Malibu Road for under $6,000,000. This particular home also happens to be in what may regard as a better section of Malibu Road, near the beginning, closer to the Malibu Colony. At $5.9m, it’s worth a look if you have been in the market for a beach house. Call 310 699 8428 for a showing or to discuss all the different beaches in Malibu. Google map link here

Click here for a link for the low down on the home

Listed with Renee Grant of Century 21

A new lease listing has hit the Malibu Real Estate market for a whopping $200,000 per month! You can only rent it for the month of July and you won’t even be able to set foot in the door until you are very pre-qualified. The deposit will be another $200,000 so be prepared to shell out almost a half a million dollars to get the lease started. The good news is that if you do rent it for a month you’ll be on Carbon beach, right smack dab in the middle of some big high rollers with mega pads. If you need the ultimate beach house, you’ve found it.

The Malibu Beach Home is listed with Stephan Shapiro/ WEA

A very unique Malibu Real Estate listing has surfaced this week on the MLS. The home not only has one of the best views in all of Malibu but also delivers incredible privacy. The home sits above the Malibu Pier and Surfrider beach and offers whitewater views from Palos Verdes to Point Dume. Check out the pics on the Flckr photostream. Call for showing 310 699 8428

Update! Home is now $1,995,000!!!!! Least expensive home on the Point with a beach key.

The Malibu Real Estate blog first brought this house to your attention a few ago and touted it a great buy on Point Dume. It’s now being elevated to a “Smoking Deal” after it received a price reduction to $2,090,000. Read the original write up below.

A new home has hit the Point Dume Real Estate market and it’s listed at a great price. The home, located on the corner of Wildlife and Fernhill, is close to the private beaches that the Point Dume community enjoys. The home is listed at $2,190,000 and includes a large lot of over .5 acre.
It’s what we commonly call an original Point Dume “ranch house” typical of building in the late 50’s and is in very clean condition. Call for a showing. This one won’t last long. 310 699 8428

The home is listed with Matt Ogden of Pritchett-Rapf

Money is cheap. Interest rates are at an all time low.
Prices have come down. I’m seeing 20-30% off of last years prices.
Inventory is up. There’s lots of competition in every price category.
Most of the good land has been built on. There will not be any huge jump in inventory from big developments.
A Malibu purchase is a major hedge against inflation. Malibu has consistently outperformed other areas.

I’m getting a sense that we may be at the bottom of the curve and a recovery to a normal market is at hand. Here’s why. The stock market has done well in the last few weeks, and some key indicators weren’t as bad as many expected. This is boosting consumer confidence. This week, a client who had decided to sit out the market for the last 5 months, called to start looking at homes in the $4m-$6m dollar range. They felt that prices were more reasonable and interest rates were about as low as they can get. I personally had numerous showings at a condo here in Malibu, and many of the top agents I’ve spoken with are all reporting a big increase in showings. Clients are still slow to write offers but they seem to be coming out and getting ready to strike at anything that seems like a good buy.
Watch the video below from San Francisco. Keep in mind that it is often California that leads the way in trends for the rest of the country.

How can two Malibu beach houses, similar in size, beach frontage, and condition, located on the same road , AND just a few lots away from each other be priced $5,ooo,ooo or more apart? Answer: Beach Depth. Take the example below in the photo showing the Malibu Colony. There is one section “within the gates” and one section “outside the gated”  on Malibu Road. Notice the houses on the beach in the Colony that have wooden sea walls with stairs leading down to the sand. At high tide there will be no dry sand and a few waves might even bounce of the wall. Now take a look at the section where there is 20-60 feet of depth to it with dry sand. In this photo you can see where the last high tide came up to and how the residents of this section still had a dry sand beach to enjoy. That’s the  big difference and what can affect the price, in the millions, for a Malibu beach house.