The Malibu Real Estate Blog

With this Point Dume home going into escrow on Selfridge somewhere around $2.5m, another house on Point Dume has smartly lowered it’s asking price from $3,200,000, then to $2,975,000, and finally to $2,750,000 making it a great price for an ocean view home on Dume Drive.

The home is listed with Brian Merrick/ Coldwell Banker

If you love doll houses, miss the Victorian Era, or are just plain ol’ looking for a distressed “good deal” within the Malibu real estate market, then this Point Dume house might be for you. The home is located on Grasswood near Point Dume Marine Science elementary school, has a beach key, an ocean view, over 7000 sq.ft. (apprx.), and a large yard. It originally came on the market at $8,500,000 but due to a divorce, and a need to sell, the owners have lowered the price to $5,495,000 with this description from the MLS…

“DIVORCE SALE! SELLERS EXTREMELY MOTIVATED. PHENOMENAL OPPORTUNITY. REDUCED OVER $3.0 MIL SINCE FIRST ON MARKET. OVER $1.25 MIL IN RECENT RENOVATIONS. EXQUISITE VICTORIAN W/DETACHED GUEST HOUSE ON GREAT PT. DUME STREET . BEAUTIFUL OCEAN AND CITY LIGHT VUS. VERY PRIVATE ON 1 ACRE OF LUSHLY LANDSCAPED GROUNDS. TRUE ESTATE PROPERTY OF UNCOMPROMISING QUALITY: INCL. GOURMET KITCHEN W/ LACORNEU STOVE, GRAND SECOND STORY MASTER, LUXURIOUS DINING/LIVING/BATH RMS, AND EXCEPTIONALLY APPOINTED GUEST SUITES!”
Call for other “deals” in Malibu 310 699 8428

The home is listed with Chris Cortazzo/Coldwell Banker

Here are the numbers showing what’s happening to land-side homes in Malibu  from Nov. 06 YTD to Nov. 07 YTD. 

• The number of new listings decreased from 444 to 389  or -12.99%  
• The number of  sold units decreased from 177 to 146 or -17.51%
• The median sales price increased from $1,865,000 to $2,197,500 or an increase of +17.83%!

Here are the numbers  for real estate on the beach.

• The number of new listings increased from 106 to 117  or +10.39%   
• The number of sold units increased from 36 to 44 or +22.22%
• The median sales price increased from $4,247,521 to $6,407,531 or an increase of +50.85%!
  

Click here to see the chart.  http://forms.themls.com/forms/la_times_news/12_16_07_LA_Times_Article.pdf