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 »

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 »

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.
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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.

Despite the downturn in Malibu real estate, Point Dume still remains in demand with numerous homes closing this past month including one listed for sale $7.5m. A large garden estate located on Wildlife Road recently became one of the larger numbers seen on a property not located on the bluffs. The home, close to the beach gate, was over 8000sq.ft. on roughly 1.5 acres. Other transactions were seen on Grasswood, Fernhill, and in the Point Dume Club. There are still numerous homes for sale on Point Dume but if you are looking for desperate sellers, you may need to shop in Lancaster. Email Me to request a list of Point Dume homes for sale.

Click here to search for all Point Dume Homes For Sale

Listed with Mark Gruskin

If you are in the market for a very large Malibu home and require panoramic ocean views, room for entertaining large number of guests, privacy, and a “king of the hill” location, then Villa Cascata may be your next home. Located a few minutes off PCH up Latigo sits this incredible 14,000 sq.ft. masterpiece of Italian style architecture complete with horse facilities, tennis court, guest house, and formal gardens. The home is listed at $13,950,000 and when compared to other homes of equal size, appears to be a very good value. After a quick search on the mls, there are no other homes with the same amount of living space, acreage, or views that come close to this price range. Also noteworthy is that it is the personal home of designer Audrey Ruth who has finished the home with incredible details.

The property sits on 19 acres with additional contiguous properties available for sale…28 acres to the east and 88 acres to the West which includes Escondido Falls. For those who forgot their Spanish lessons, Cascata is “Waterfall” in Spanish. So why live in Beverly Hills without an ocean view when you could live in Malibu with your own private waterfall and enough land to plant a vineyard? Cascata Winery anyone?Call for a showing 310 699 8428. See the slide show of this Malibu home here.

From the MLS.

VILLA CASCATA IS YOUR NEW HOME. THIS AMENITY RICH PROPERTY HAS IT ALL. HORSE FACILITIES, SPECTACULAR POOL ENTERTAINING AREA W/ KITCHEN AND FIREPLACE, TRAILS, LAWNS, FORMAL GARDEN, KOI POND AND A LARGE GUEST HOUSE FOR YOUR OUT OF TOWN GUESTS. THIS NEWLY COMPLETED MASTERPIECE FEATURES INTERIORS BY NOTED DESIGNER AUDREY RUTH AND IS SITED TO COMMAND VIEWS FROM PT. MUGU TO DOWNTOWN LA. ADJOINING 103 ACRES ALSO AVAILABLE.

Listed with Mike Gardner and David Findley 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
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.

Here are a few large, ocean view homes for sale in Malibu that have had some great price reductions and offer a low price per sq.ft. Call 310 699 8428 for showings.

6368 Sea Star, Malibu Ca. 90265 6 bedrooms 6257 sq.ft. Originally priced for $6,800,000 Now $3,495,000
“STUNNING MEDITERRANEAN VILLA LOCATED BEHIND THE GATES OF PRESTIGIOUS SEA STAR ESTATES. THIS EXPANSIVE ESTATE OFFERS ENDLESS OCN & WHITEWATER VWS THROUGHOUT EVERY LIVING SPACE. STATE OF THE ART KITCHEN W/BUILT-INS, GRANITE COUNTER TOPS, HIGH-END APPLIANCES & A WINE FRIDGE MAKES COOKING & ENTERTAINING A DREAM. LUXURIOUS MSTR SUITE BOASTS HIS & HER CLOSETS, LARGE DOUBLE VANITY BATHROOM W/SPA TUB & GREAT PATIOS FOR RELAXING & SOAKING UP THE VIEWS. GUEST HOUSE, 3-CAR GARAGE COMMUNITY TENNIS COURTS”

6208 Ramirez Mesa, Malibu 90265 Ca. 5 bedrooms 5932 sq.ft Originally priced for $5,250,000 Now $3,610,000
“PANORAMIC COASTLINE AND OCEAN VIEWS FROM THIS STUNNING ITALIAN VILLA SITUATED IN A PRESTIGIOUS GATED COMMUNITY. A DRAMATIC ENTRY, SPACIOUS ROOMS W/HIGH CEILINGS, LARGE FAMILY ROOM W/FIREPLACE & WET BAR. BEAUTIFUL MASTER SUITE W/SITTING ROOM, FIREPLACE & VERANDAS. FORMAL DINING ROOM, WINE CELLAR. A CIRCULAR DRIVE W/3-CAR GARAGE. ALL SITUATED ON BEAUTIFULLY LANDSCAPED GROUNDS W/GAZEBO, POOL/SPA, FOUNTAINS AND OLIVE TREES AND FLOWERING GARDENS. A FANTASTIC HOME TO ENTERTAIN YOUR GUESTS.”

6288 Porterdale Drive Malibu Ca. 90265 5 bedrooms 10,636 sq.ft Originally priced for $7,995,000 Now $5,950,000
“ARTISTICALLY DESIGNED MEDIA AND ENTERTAINING GATED ESTATE W/SOOARING LIVING SPACES HAND PAINTED CEILINGS, MURANO CHANDELIERS. THREE STORY EUROPEAN VILLA W/ELEVATOR, SITUATED HIGH ABOVE MALIBU W/EXTRAORDINARY VISTA OF THE PACIFIC FROM EACH ROOM. SURROUNDED BY LAWNS AND FOUNTAINS, TERRACED GARDENS AND WATERFALLS, MAGNIFICENT OVERSIZED POOL W/JACUZZI. GAZEBO W/MEDITERRANEAN CUPOLA.”

All homes listed with Chris Cortazzo/CB

The gilded age continues! New this week to the Malibu Real Estate market is  a 9000 sq.ft. Tuscan wine estate  with an asking price of $65,ooo,ooo! For  that price you get 37 acres of land with the home located on the top of a mountain with 360 degrees views of the ocean, valley, and city. If you want to be king of the mountain, then there might not be any finer home than this one. The home for sale is located in the middle on Malibu’s burgoning wine country along the Kanan corridor. You may have seen a few times as you get close to the tunnels, a castle-like structure on the high peak among thousands of grape vines. There is an invite only  private showing on Thursday where I will post live updates via Twitter about the scene, the food, and if it’s really worth $65,000,000. Pics to come as soon as they are posted! There are only two other listings in the MLS that are higher priced than this. One for  $72m and one for $75m! Tomorrow I’ll post write about the top 5 most expensive listings in the area.

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.

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.
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.”

“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!
If you enjoy getting current information on Malibu Real Estate subscribe to my RSS feed! If you have no clue what an RSS feed is click here for a quick video.

Listed with Ellen Francisco CB Malibu

The inventory of Point Dume homes for sale shrank dramatically in the last few weeks with 5 homes going in to escrow and 2 selling. Signs of recovery? I think so! The team at the Malibu Real Estate Blog gets 6- 12 calls a month looking for deals, leases, unlisted, or soon to be listed Point homes . Aside from “beach bargains”, Point Dume is Malibu’s hottest real estate market at the moment. Call for an update on Point Dume 1 310 699 8428 or asked to be emailed the comps of the below mentioned homes.
From the MLS today….
6908 Dume Drive Looking For Back Ups
6769 Dume Drive Looking For Back Ups
6722 Fernhill Drive Pending
6805 Dume Looking for Back Ups
7022 Grasswood Pending
a home on Wildlife just closed escrow and so did a $20m home on Zumirez.

There’s a great ocean view house for sale on Calpine in Malibu Park. Malibu Park is known for it’s family friendly environment and having k-12 schools located about 1 mile from any house in the neighborhood. Real estate prices in this area range form $1.7m and up. This particular house may be a good buy because of the following reasons…

• It was purchased for $1,895,000 in 2007
• The owners spent upwards of $350,000 remodeling the property
• They spent an estimated $35,000 on preliminary research and plans for an additional 800 sq.ft. to be added on and a pool. Final plans need to be selected then submitted to the city.
• The new addition would feature a master bedroom that faces the water and deck that raps around the entire back of the house
• The owners have already relocated

Current asking price is $1,999,000 and it’s may be the nicest ranch home available in Malibu under $2m.

Malibu homes for sale

Listed with Prudential

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 Malibu beach house listings.

A very unique Malibu home has sold and well below it’s original asking price. The one of a kind home located at the end of Zumirez on Point Dume came on the market at $27,500,000 back in December. It was reduced to $23,000,000 and it closed a few days ago for $16,500,000! That’s a serious chop of $11,000,000! The house may have been listed high in hopes that Ms. Streisand, who owns multiple lots next to the property, would make a run for it but it appears she has passed on it. The home sits on a rare bluff parcel but was considered by many to be a “scraper” and in pretty rough shape.
The home was co listed with Chris Cortazzo of Coldwell Banker

I’ve been busy working on a new Malibu real estate blog that will make searching easier. There will be more of a focus on showcasing properties rather than articles. I could use some feedback on the site so have a look and tell me what you think.
www.maliburealestateandhomesforsale.com

Malibu’s very own Lisa Kline will be having a garage sale where “everything must go”!
The style maven has been a fixture in Malibu for years so get there early as the locals are sure to turn out in force looking for deals.

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.

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

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.”

listed with Shen Shultz PRapf Realty

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

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.