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One of the really fun things about being a Malibu real estate agent is that I get to go in to hundreds of homes for sale each year and check out people’s interpretation of ”good style.” Most Malibu homes are decorated in a way that looks like they are fresh out of Metropolitan Home Mag, Dwell, or from a Pottery Barn catalog — but every once in a while you run into something out of the ordinary. There is one condo for sale on Point Dume that is so unique I’m tempted to start a new game called the “Guess the number of Buddhas in this house?”
Before you start counting Buddhas, there is one other fantastic thing worth mentioning about this Malibu condo: The unit was once owned by a well-known female lifeguard who has performed dozens of heroic rescues in local waters without any real training.
Before the current owner, she created a one-of-a-kind master bathroom in which the bather could be the evening’s entertainment viewed from anywhere in the master bedroom. This bathroom has a spa tub with a nearby viewing platform (the bed) and Roman cistern that one could pose naked next to pretending to fill the tub with recently fetched well water. Post-bath, one could saunter over to the fully exposed overhead shower with a faux finished rock grotto floor with no walls . . . just a curtain that looks like it was designed to be pulled shut in emergencies — like when kids come walking in. The overall theme seems to be possibly influenced from a trip to Medieval Times with fake castle-style block walls and diamond patterned stenciling.
Back to the Buddha game. The first person that guesses the number closest to the right answer is going to win a custom-printed Malibu photograph.
Email you answer
So if you are in market for a place on Point Dume that was once owned by a famous celebrity, can claim it has a “sexy” master bathroom with naughty bathing grotto, and has more cosmic karma than Sedona at summer solstice, then you may have just found your next home.
All commentary aside (couldn’t resist) here is the low down….. I showed this place a few times and it’s a well priced condo on Point Dume with some very nice upgrades. While the bathroom will likely need a remodel, the floors and finishes in the rest of the house have had a lot of money put in to them. The kitchen has nice cabinets and newer appliances. The distressed wood floors are like the type you see in higher end homes around Malibu. There is even an open bonus space that could easily become a third bedroom. Best of all you get a beach key to Little Dume and rentals in this complex run about $3500 per month if you are looking for an investment property.
Call 1 310 699 8428 for a showing. These units don’t come up to often and are considered by many to be the nicest units available on Point Dume.
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
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.
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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.
listed with D. Carroll Prudential Malibu
Angelyne, Malibu’s iconic goddess of plastic surgery and all things pink, placed her condo for sale last night. The American model and occasional actress who became an icon of Hollywood and Los Angeles is best known for purchasing billboards advertising herself like this one. The condo, located in the civic center area of Malibu, looks to be as unique as the owner herself with a plethora of pink accenting every nook and cranny. The Pièce de résistance is undoubtedly the master bedroom with it’s pink, 80′s style lacquer bedroom set covered in a sea of shagadelic pink quilts. The decor is truly a work of art and I think it should preserved as a museum highlighting fine interior design! The only thing missing is some Patrick Nagel litho’s on the wall.
Here’s the low down….it’s really priced well for a three bedroom ocean view condo in Malibu. It’s a short sale and will likely go out at a better price than the asking of $575,000. Not sure what kind of work it needs but you can bet if they are serving pink Hostess Snowballs at caravan I’m going to check out the lair!
From the MLS “Great property in Malibu, NEEDS TLC & UPGRADES. Great ocean views. 3 bd 4 bath townhome/condo with great potential.”
There’s a really great condo complex that sits on the corner of Heathercliff and Dume Drive with a unit for sale at an incredibly low price. The two bedroom condo has beach rights to the gate on Grey Fox and has a two car covered garage. The Unit is listed at $625,000 and would be a great purchase to rent out to Pepperdine students. Call for a showing 310 699 8428
There are several condos on the Malibu real estate market that are heading into the ”half off” sale category so take note of these deals!
Deal numero uno…
28266 Rey De Copas Lane, Malibu
Top row remodeled unit with ocean views and twice the parking as any other unit. Exceptional finishes make it look like a swanky hotel room at a high end resort. Once listed at $1,075,000 now at $659,000. Here is the MLS description and pictures… Continue Reading »
I saw a few things this week that made me pick up the phone and call clients telling them about some great opportunities within the Malibu real estate market. Yesterday on caravan, I was wowed by a home for sale located on Ramirez Mesa. This is a gated development of roughly 20 homes that sits above Paradise Cove and has great ocean views. The home for sale is almost 6000 sq.ft., nicely remodeled in a Tuscan/Mediterranean style, had 5 bedrooms ,a pool, and a three car garage. The home had views of all on Santa Monica Bay and has room for a vineyard. It’s current asking price is $3,950,000, which in my view makes it one of the largest, and nicest, homes available under $4m. I even think there is some room on the price! Call 310 699 8428 for an appointment to view it.
Listed with Chris Cortazzo
The other great deals in general are showing up in the condo market. I think we may see some condos closing at $350k or less in the next few months. There is one listed at the Malibu Gardens for $389,000! At that price it makes a great rental for Pepperdine students or just a weekend crash pad to enjoy the beach.
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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.
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.
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.
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
What was this seller thinking? A condo goes up for sale in Malibu and starts with a listing price of $1,098,000. Many agents that saw it thought it was overpriced. 5 days later the seller drops it to $999,999. A drop of around 10%. 14 days later the seller raises it $1,150,000. An increase of 15%. 3 days after that the seller drops it over 20% and lists it at $899,999 with the following description.
SHORT SALE!!!!!!!BRING ALL OFFERS SPECTACULAR MALIBU TOWNHOUSE WITH OCEAN VIEWS AND BALCONIES FROM EVERY ROOM! ENTER INTO AN ELEGANT LIVING SPACE WITH ROMANTIC FIREPLACE, SPACIOUS DINING AREA AND A MAGNIFICENT GOURMET KITCHEN. 2 BEDROOM SUITES UPSTAIRS EACH WITH PRIVATE BATH AND OCEAN VIEW PATIO. CONVENIENTLY LOCATED TO CROSS CREEK COUNTRY MART, MINUTES FROM SANTA MONICA BUT FEELS LIKE YOUR IN ANOTHER WORLD. COME HOME TO MALIBU!
It is now in escrow.
Sellers who “need to sell” should take note that in this market you really have to price your home at realistic price. Don’t play with numbers. Analyze the market and set a realistic asking price. If you don’t have offers after 30, or most 60 days, you need to reduce the price before it’s too late.
Currently Malibu has 78 condos on the market and roughly half of them have had a price reduction since being listed. Only one has sold in the last 90 days and many agents are claiming the phone just ain’t ringing for condo’s right now. That’s a serious flat spell! The highest price unit on the market is $3.6m for a swanky new pad across the street from Billionaires Beach. Yes, it’s on the land side of PCH at that price, not on the beach. You’ll need another $20m to live on the other side of PCH 50 feet closer towards the sand. The lowest price condo is something many realtors thought they wouldn’t see….a unit under $500k.The complex, which is known as Malibu Gardens, lies between Kanan and Cavalleri on PCH and has a new listing at $499,000 for a 2 bedroom unit. A few weeks ago it was $559,000…a drop of more than 10 percent. It wasn’t long ago that the lowest price condo in this complex was closer to $575,000. With this many condos being on the market sellers are having to fiercely compete with other sellers to get their untis sold. I would venture to say than in the $1.5m and under category prices are down 10-15 percent off last years prices and could be heading to a 20 percent or more price drop.
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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