The Malibu Real Estate Blog » beach house

I’m Officially Declaring That We’ve Seen The Bottom Of The Malibu Real Estate Market

Malibu Real Estate — Tue, 27 Mar 2012 01:44:42 +0000

Really incredible breaking news! The Malibu Real Estate market is busting loose!
Man! Where do I begin? Picture the Colossas at Six Flags. You know the first big drop? We’ve been there. The big dip in the middle. We’ve been there, too. The part where you start heading back up really fast? That’s where we’re at, baby. Heading up and looking towards clear blue skies. There might be a bump or two on the way back up but I think we are flying past the big dip!
It’s like people just got fed up with waiting around and decided to move on, regardless of their fears. We’ve been bombarded with some much bad news about everything over the last few years I think people have just had enough and are realizing that it’s just time to spend some money and grab some deals.
Here’s what going on. All the data is showing sign of a real upturn:

NAR is claiming we may see the strongest home sales year in the last 5 years. February pending sales up 9.2% from year ago.
15 Malibu beach houses are pending and 45 deals on the land side are pending. 45! That’s a huge number!
11 condos in one complex sold or pending in the last 7 months.

Ok enough boring stuff. Let me dish you up a hot plate of tasty good news directly from the trenches.
I asked a few local managers to give me the low down on what they are seeing in their offices. So get out your napkin, grab a spoon, and gobble this up.
“Properly priced Malibu property sales are driving the market. A lot of activity in all ranges. On the beach, where it had been quiet, also very active from $5mm to $10mm. Much of that inventory went into escrow the past 30 days”

-Michael Novotny Prudential Malibu Realty

“The good news is we are having a $100+ million dollar month, it appears that approximately 20-25% of the Malibu inventory is either Back up or Pending.”

- Jay Rubenstein Coldwell Banker Malibu

“The last 60 days have seen more activity than I have seen in the last 5 years. It seems as though the “Bell has rung” for the bottom of the market. These are not low end sales but $5,000,000 to $25,000,000 and several of them. I hope it continues.”

-Jeff Chertow Pritchett- Rapf Malibu

“6.5 mil listing in BH was in the MLS for one week, received 7 offers, and closed all-cash in 3 business days…over asking. Significant lack of good inventory. “

-Tom Dunlap Prudential Beverly Hills

So there’s the straight talk. Ready to stop worrying and step to the plate? Call me at 310 699 8428 to discuss anything about Malibu real estate.

Malibu Beach House Designed By Pierre Koenig Now For Sale

Malibu Real Estate — Wed, 07 Mar 2012 16:56:36 +0000

A landmark Malibu beach house, designed by Pierre Koenig, hit the Malibu real estate market last night for $18.5m. The home sits right above the water on a rocky promontory at the end of Broad Beach and features giant walls of glass that take in some of the best views in all of Malibu. When inside, it seems as though you are looking at a 480″ HD plasma TV watching a segment of Planet Earth that was filmed in Malibu. Imagine Sigourney Weaver’s voice as the camera pans left over the cove….”Here, dolphins marvel at the glass and steel structure while the rhythmic pulse of the tides yield an ever changing view of the cove. But all is not well in Paradise…..Soon an army of window washers descend on the magnificent structure clinging to the surface like ants on a glass Rubiks Cube”

From the MLS “Once in a lifetime opportunity to purchase Pierre Koenig’s last built project. 11 years in the making Koenig’s LaFetra Beach House was described by Pierre as being “a perfect jewel” and “with a view that rivals CSH #22″. Gated on a cul de sac with its own drawbridge, this architectural marvel could no longer be built in this location. Radiant heated, solar powered, steel, concrete & glass assembled in this perfectly designed breath-taking site.”

For showing requests contact Mike Gardner at Prudential Malibu Realty direct at 310 699 8428

Listed with Cory Weiss Partners Trust

One Seriously Sexy Beach House on Malibu Road!

Malibu Real Estate — Mon, 23 May 2011 21:19:56 +0000

Warning! The home you are about to view is known to cause an increase in blood pressure, a rise in heart rate, and an uncontrollable desire to live on Malibu Road. There are unconfirmed reports that this home cures the need for Viagra. Consult your doctor or accountant after viewing if any symptoms start to appear. You must be 18 years old or older to view this home….

Architectural beach houses are sexy to begin with. Especially new ones filled with racey artwork, the coolest furnishings, and walls of glass showing nothing but blue ocean. Welcome to 21466 Malibu Road. …..my vote for Malibu’s sexiest beach house ever! The newly constructed home just hit the market last week at $15,995,000 and sits on 65 feet of frontage with a rare 6 bedroom floor plan. The home features dramatic walls of concrete and glass enhanced with exotic hardwoods and natural stone finishes. There is a flat panel control system, heated floors, swirling flame fireplaces, and numerous outdoor decks.

I’ve been in 100′s of Malibu beach house over the years and have never seen anything as cool as this. If you have young kids this house may not be for you. But, if you collect Italian sports cars, like to entertain, and want to ditch your special blue little pill, you may have found your next home.

We’ve got exclusive pics not seen on the MLS!
Call for a showing 310 699 8428

Malibu Real Estate Round Up

Malibu Real Estate — Mon, 11 Apr 2011 18:17:35 +0000

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.

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.

Two Malibu “Super Homes” For Sale Compete For Same Buyers

Malibu Real Estate — Wed, 30 Mar 2011 05:07:54 +0000

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

The Never Ending Price Chop

Malibu Real Estate — Tue, 01 Mar 2011 22:34:51 +0000

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

Hot Deals On Malibu Road

Malibu Real Estate — Fri, 02 Apr 2010 04:30:11 +0000

There are two beach homes for sale on Malibu Road that I’m saying are heading in to the “deal” category. I can’t give away to much info but I will say the both places are vacant and are owned by family members who want to see them sold. In other words, there’s not a whole lot of emotional attachment to the homes which gives you a better chance at getting a good price. Call for a showing 310 699 8428

Here’s the Low Down on The High End

House number one. 24134 Malibu Road. Listed at $4,975,000

Great price, good sq.ft., big rooms, and a huge deck for parties. Not a whole lot of sand underneath so don’t expect a big hunk of dry beach to lounge on. It does have a rock wall, which to some is piece of mind, and huge decks where you and 30 friends could lay out for that Malibu Tan! The home is in need of an update but appears to be very well maintained. Someone will get a good deal on the this place. The spa tub in the master bath is worth a showing alone!

House number two. 24518 Malibu Road. Asking $5.5M

Total remodel project but a really cool post and beam house with a guest apartment above the garage. This is the one you buy, do a light remodel so yo can live in it while getting a permit, then build it out someday and let me sell it for a bit profit! I’m telling you the truth when I say there is some scary looking stuff on the carpet and on the walls BUT this is my bet for the best buy on Malibu Road. You just get a feeling for this place when you walk in like,” Man, this place has a ton of potential!.”

[idx-listing mlsnumber="10436793" showpricehistory="true" showlocation="true"]

What up with That?

Malibu Real Estate — Tue, 16 Feb 2010 22:54:10 +0000

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, ” Oh yeah!, What up with dat!”
It has a lot in common with real estate in Malibu too. It doesn’t always make a lot of sense and many might hear about a $20m beach house for sale or $3m mobile home and say, “What up with that?” So I think I’m going to do a article every once in a while with that title. Maybe “What up with that Wednesdays”
Here’s one for you. A large estate came on the Malibu real estate market last year at $21,500,000 and recently closed for $12,000,000. The buyer picked up one of the biggest homes in Malibu at almost half of the original listing price and the seller was probably scratching his head about how the market had changed. It was one of the largest gaps I had seen between the asking and closing price. Use it as a lesson. Even some of the largest asking prices out there may be more flexible than you think. So, come on, sing it with me ……. “What Up With That!”
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 you actually buying a home in Malibu call me on my cell at 310 699 8428.

Beach House Deal On Malibu Road

Malibu Real Estate — Sat, 09 Jan 2010 01:11:41 +0000

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.

Malibu Real Estate Update. Short Sales, Reo, Bank Owned, Foreclosures!

Malibu Real Estate — Sun, 13 Dec 2009 15:59:06 +0000

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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