The Malibu Real Estate Blog

I am totally hooked on finding interesting stories for this blog. I also love spinning the PR wheel and finding ways to get media exposure to my listings. A few weeks ago I saw a new Malibu home for sale in the MLS for a home where a Ferrari was being given away. I called the agent up and said “Do you realize the size of media gold mine you are sitting on?”. He had no clue so I asked for permission to run the story on my blog and call my media contacts because I’m not letting this one go to waste. The original story can be found here . So here’s what happend…The story first went out to Wallet Pop. After that it found it’s way on to 30 different auto sites and forums. Then it hit the newspapers…. the big ones. Lastly it went on Fox News. So with a good story and a few calls I was able to bring in about 30,000 page views to the blog, got mentioned on dozens of portals, and got the agent some face time on TV. So I got to ask…..Does your agent go to these lengths for your home? If the answer is no then call me 310 699 8428. I”ll tell you what I’ve done for my listings! here.

Update! reduced to $12,950,000

A new home in Serra Retreat went on the Malibu Real estate market this week for $14,795,000 . The home, best described as a “Modern interpretation of a barn” is sure to find favor with buyers looking for privacy and stylish design. The home is located at the back of Serra Retreat and sits in a bowl surrounded by the hills of the Santa Monica Mountains. It’s private enough that one will feel at ease with nothing on in the master Continue Reading »

The seller of this Malibu home is no longer the seller! Once listed as high at $20,000,000 an Encinal bluff house has now been listed at $14,950,000 with the bank being the seller. The bank owned home may be the most expensive piece of real estate for sale that comes under the “distressed” category in of Malibu. I showed the luxury home to a client  back when the price was closer to $18m and though the home was great with a huge bonus pad located above that has build out potential for another home. The house has expansive decks, large partition doors the lend to an indoor outdoor flow, and is located above a private beach with stair access from the lowest deck.”It feels like you are on vacation at Lake Como, Italy,” one agent commented at a showing. The homes can be seen by calling Mike Gardner @ 310 699 8428.

The Los Angeles Times has mentioned the Malibu Real Estate Blog in the online addition and will be in print this weekend. The article is about how the high-end market has shifted and why sellers need to rethink the way their homes are priced. I look at the positive side of this article in that buyers can pick up some great deals that a few years ago were out of reach.
I was referenced in a section about “chasing the market”. The article says it’s when a seller continually lowers the price of a home until a buyer is found. It is that but more. Chasing the market is when a seller has the price a little to high while the market is falling and when they lower the price it’s always a bit to late. The cycle repeats. Often, offers they said no to, end up being more than  to what they lowered the price to. I have seen this happen numerous times in this market when the tides started to turn. Check out the link here.
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 actually buying a home and living in Malibu, call me on my cell at 310 699 8428.

If you spend time listening to the doom and gloomers there’s a good chance that you might believe that nothing is going on with the Malibu real estate market. Well, let me say that a lot has been going on. 24 properties have closed in Malibu within the last 60 days. Let’s go over just a few of them so that you won’t be mislead into believing that no one is buying. When is the last time you heard a news report describing all the multi million dollar homes that have sold?
30553 MORNING VIEW DR $14,995,000
31950 1/2 PACIFIC COAST HWY$6,300,000 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.

A dee-lux coach located in the Point Dume Club has recently closed for $1,060,000. The unit, with panoramic views of Zuma beach and the Channel Islands, hit the Malibu Real Estate market in March, and with a few price reductions, closed  for a price  that you could have purchased  large mansion in Texas. Let me tell ya’all…there’s nothing mobile about this mobile home! What you need to know about mobile homes in Malibu is that you are allowed to do some traditional “stick built” construction including foundations and  2×4 framed walls. That’s why this one looks like a regular beach home with an expansive interior.  This may very well be the nicest examples of modern design in a mobile home park. There are other incredible units for sale if you have $4,000,000  tastes with a $1,000,000 budget. Call for more info about living large in a mobile home in  Malibu. P.S.To date, no mobile home in Malibu has ever been crushed by a tornado. 310 699 8428 .

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.

From the MLS..

“ENJOY LIFE IN THIS SINGLE LEVEL DESIGN HOME. SPECTACULAR PANORAMIC PACIFIC OCEAN VIEWS OVERLOOKING FAMOUS ZUMA BEACH. 3 BDRMS/3.5 BA. CLOSE TO HEATHERCLIFF ROAD STORES & SERVICES. GATED ACCESS TO WESTWOOD BEACH RD. LOCATED IN THE POINT DUME’CLUB OF MALIBU COMMUNITY. SEE PRIVATE REMARKS FOR ANTICIPATED SPACE RENT, WHICH INCLUDES: 24 HR GUARD GATE ACCESS, ACCESS TO CLUB HOUSE / POOL & SPA, SPACE RENT, PRIVATE WASTE WATER SYSTEM, COMMUNITY MAINTENANCE. HIGH SPEED INTERNET AVAILABLE.”

Malibu Mobile Home

Malibu Mobile Home

Malibu Market and Design hit the real estate market this morning in Malibu for $5.9m. The property features commercial zoning and has a nice ocean view home for sale on the upper portion of the property. Here is a description from the MLS…”One of a kind multi level property zoned for residential or nursery use. Property currently running as a design center, has a fully remodeled single family home, multiple structures throughout the property that provide over 4,000 sq ft. of interior space, lush landscaping, full commercial infrastructure in place as a working business, plenty of parking throughout the property. This is a one-of-a-kind property with endless possibility.” Google Map Link here

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

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

Could California’s long slide be abating?

According to recent data from Relocation.com, the number of people leaving the state is shrinking compared to the number of people moving to it, a crucial gauge for measuring the state’s rebound from economic calamity.

As recently as 2005, 60.7% of the relocation activity for California was outbound – in other words, for every 2 people who were moving to California, 3 were leaving.

That kind of migration can decimate the local tax base and contribute to a further erosion in the state’s quality of life.

However, that outbound number has been slowly decreasing every year, from 58.6% in 2006 to 54.99% in 2009 year to date.

These numbers are reflected in the Los Angeles data.

We looked at the data for all moves in Los Angeles, including moves made within Los Angeles. We found that outbound Los Angeles moves accounted for 36.4% of all moves in 2009 year to date, down from 43.1% in 2008 (the earliest year for which city data are available).

However, instead of people moving to Los Angeles, we found that more people were making moves within the Los Angeles area, an indication that more people are taking advantage of housing prices to either ‘move up’ to a better home, or move to a better neighborhood.

Most importantly, of course, they’re deciding not to move out of Los Angeles.

The percentage of movers making a move within LA was 25.2% in 2008; it rose to 32.33% in 2009.

Relocation.com utilizes real-time data from people requesting moving services, recording where people are moving from and to. It annually records over 500,000 moving requests in its database.

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.

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.”

Investors looking for long term income know that rental properties are a great way to produce cash. New to the Malibu Real Estate  market this week is this beachfront duplex on the water in Malibu. There is a 3 bedroom unit and a 1 bedroom unit, both of which could make easy rentals, or stay in one and rent out the other . At $1,996,000 it may be time to get  into your Mr. Furley leasure suit and become a landlord in Malibu.  Call for a showing 310 699 8428.

From the MLS ” BEACHFRONT DUPLEX IN MALIBU… ENJOY THE SOUND OF THE SURF AND WALKS ON THE BEACH FROM THIS UPDATED, COMFORTABLE DUPLEX ON THE BEACH IN MALIBU. THE UPSTAIRS UNIT HAS 3 BEDROOMS AND THE LOWER UNIT 1 BEDROOM WITH A 2 CAR GARAGE. OCEANFRONT MASTER BEDROOM ALLOWS FOR ENDLESS OCEAN VISTAS. LIVE IN ONE UNIT AND GET EXTRA INCOME FROM THE OTHER OR RENT THEM BOTH OUT FOR A GREAT INCOME PROPERTY. DUPLEX HAS A NEW SEPTIC SYSTEM WITH CITY OPERATING PERMIT. PERFECT STARTER BEACH PROPERTY IN MALIBU.”

Malibu Beach House

Listed with Brian Merrick/ Coldwell Banker

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

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.

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.

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.

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