The Malibu Real Estate Blog

How bad can the real estate market be when a Malibu mobile home located in Paradise Cove just sold for a $2,000,000 cash? The home came on the market a few months ago at $2.5m with many people debating whether or not the price was justified. The home, which really has nothing mobile about it, (think more pre-fab) sits on a bluff over looking the Pacific and shares the same views that homes listed for $15m-$55m share just a few hundred yards away. There a several other units available for sale ranging in price from $500k to $1.5m. Call me at 310 699 8428 for more information about why this is one of the most fun places to live or have a weekend beach home in Malibu.
From the MLS “THE ULTIMATE OCEAN VIEW BLUFF LOCATION IN PARADISE COVE. INSANE COASTLINE, WHITEWATER OCEAN, AND MOUNTAIN VIEWS. IT ALSO PROVIDES TOTAL PRIVACY FROM THIS NEWER 2BDRM, 2BTH HOME. OVER 2,300 SQFT. OF OPEN LIVING SPACE, PLUS 2 CAR GARAGE AND PARKING FOR 3 MORE. HUGE LANDSCAPED LOT, PLENTY OF OUTSIDE GARDEN AREAS, AND PRIVATE OCEAN VIEW DECKS. ENJOY THE SUMMER IN PARADISE. GOLF CART DOWN THE TRAIL TO KAYAK, DIVE, SURF OR JUST RELAX ON OUR PRIVATE SANDY BEACH.”

The home was listed with David Carter PR.

Only in Malibu….Yep…….. $390,000 for the right to park a mobile home at Paradise Cove. A new listing hit the MLS this morning stating that for $390k you can buy the rights to park a 1385 sq.ft  mobile home in what may be the worlds most expensive trailer park. Once you pull your D-Lux “double or triple wide”  home on wheels you’ll still have to pay space rent which can run $1500-$2500 per month. Good news is that the listing states that the owner  may carry paper until you buy your manufactured home on wheels. Just to put things in perspective, there have been several sales in the $1.5m t0 $2m price range in the cove over the last several years. I think I need to pitch an MTV show called “Cribs on Wheels” or “Mobile Cribs”.

From the MLS “Vacant space in the upper section of Paradise Cove w/ Park approved plans for a manufactured 3BDR 2BA 1385 SQ. FT. home. Owner will carry a first until the new home is brought in and occupied. Located on a quiet street near the park and beach trail. Great opportunity to get into the Cove at a great price!”

My take? A pretty fair price considering that most of the time you need to buy someone else’s junky old mobile home, have it torn down or dismantled, then pull in your new place. At least with this deal, a lot of the headache factor has been already taken care of. Just pick out a home online, click “buy it now”, have it delivered, then buy a golf cart with surf racks and call it a day.

Email Me to get the list of all available mobile homes for sale in Malibu.
Click this link to be taken to an MLS search for all Mobile Home in Malibu.The user id is x55032 and the password is trailer.

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.

Vanity Fair ran a really nice article about the mobile homes in Paradise Cove, Malibu in the recent issue. Both David Carter and the trailer park got some great press. Here are some links that should help you.
The article can be found here at our FaceBook page

You can search mobile homes for sale here.
Click this link to be taken to an MLS search for all Mobile Home in Malibu.The user id is x55032 and the password is trailer

Sit down and get ready for this……$2,275,000 for a D-luxe mobile home in the  Point Dume Club! No, I didn’t accidentally include an extra zero. That’s the going rate for the most expensive mobile home listing in Malibu and  possibly the world. So what are you getting you ask? You get a huge ocean view and are seconds from the shores of Zuma beach. The place is more like a home than something with an axle but you still need to register it each year with the DMV. Can’t roll like that? There are some single wides for under $350,000 but they look more like sardine cans that homes. But still better to be a sardine in Malibu than a big fish in Elko, NV. Showings call 310 699 8428
Like this article??? 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 or selling a home in Malibu, call me on my cell at 310 699 8428 anytime 7am to 10pm.

listed with David Carter

Check out this brilliant, funny, and painfully honest sales approach to mobile homes. This is not how we roll in Malibu but I’d sure like to see this guy move some units in the Point Dume Club or Paradise Cove!

Read the story below. Further evidence that we may be at the bottom and buyers are buying up bargains. More evidence that backs up my feelings as reported yesterday. I think you’ll soon see this hit the condo market and the mobile home market in Malibu. Those two markets are flooded with inventory and bargains are starting to show. A few years ago I would get calls asking if there are any condos under $500k and I’d always say no. Now there are several….nice ones too, with ocean views to boot!

http://www.latimes.com/business/la-fi-home-sales19-2009aug19,1,994564.story

Two Million Dollar mobile homes? Yes, only in Malibu. Even during a depressed real estate market, someone was willing to pay over $2m for one of the finest mobile homes ever offered within the Malibu real estate market. The deluxe park “coach” sits on the same stretch of bluff where nearby homes range from $10-$30m. The price may seem high but when you factor in that you are above the water and can walk down to a private beach, it may be the most affordable way to live large in Malibu.

The mobile home was listed with David Carter/ PRapf

Is there anything affordable in Malibu you ask? Yes. You want to roll big because….well,  that’s how you roll, right? You just want to say “I live in Malibu..right above the beach”. Not much cash? OK! Here’s your answer…Mobile homes. Big ones with ocean views, the sound of waves to put you to sleep, and a tricked out golf cart with surfboard racks and a 2 inch lift.

The price may sound high but you’ll be watching the same sunset over the water that several celebs watch from their $15,000,000 homes on the same bluff just a block away.

Malibu has two mobile home parks. One at Paradise Cove and the other, known as The Point Dume Club, on Point Dume. Between the two parks there are currently 5 mobile homes for sale above $1,000,000! The highest comes in at $1,395,000 and you will still need to pay space rent once you buy the mobile home. Space rents run from $1000 to $3000 depending on location, size of the lot, and views. Since the mobile homes might only be worth a few hundred thousand what you are really paying for is the right to be there on the rented land. That right gives you ocean views, an affordable alternative to the high priced mansions in Malibu, and your own beach to use within a few minutes walk away.

Here are the Top 5 with descriptions from the MLS.

1) $1,395,000 for a 2 bedroom 2 bath in Paradise Cove

LOCATION! LOCATION! THIS UNIT SITS ON THE BLUFF TOP OF THE PARK OFFERING SWEEPING OCEAN VIEWS. IT FEATURES A BEAUTIFUL WRAP AROUND DECK WITH A GRASSY BACKYARD THAT IS PERFECT FOR ENTERTAINING. THE HOME IS IN PRISTINE CONDITION AND HAS BEEN NEWLY PAINTED, HARDWOOD FLOORS THROUGHOUT AND NEW GRANITE COUNTERS IN KITCHEN AND BATHROOMS. THE UNIT IS LOCATED IN ONE OF THE BEST SPOTS IN THE PARK.

Listed with Shirley Sherman of Westside Estate Agency

2) $1,395,000 for a 2 bedroom 2 bath in Paradise Cove

PARADISE COVE BLUFF LOCATION. OUTSTANDING SANTA MONICA BAY OCEAN VIEWS. BEAUTIFUL, CUSTOM ” MEXICAN HACIENDA” STYLE HOME. UPGRADED WITH THE UTMOST QUALITY AND STYLE; AS ‘ FEATURED ON THE TRAVEL CHANNEL, CBS NEWS AND LA TIMES ‘. LEADED GLASS WINDOWS, CENTER ISLAND TILE KITCHEN, TILE BATHROOMS, SKYLIGHTS, FIREPLACE, AND RECESSED LIGHTING. FRENCH DOORS OPEN FROM EVERY ROOM ONTO LARGE STONE DECK. ENTER A TROPICAL PARADISE OF LUSH LANDSCAPING, PRIVACY AND SPA TUB. BONUS ROOM CAN BE 3RD BEDROOM.

Listed with David Carter of Pritchett-Rapf Malibu

3) $1,385,000 for a 2 bedroom 2 bath in Paradise Cove

UNOBSTRUCTED, AWESOME, WHITE WATER OCEAN VIEWS OF PARADISE COVE AND SANTA MONICA BAY. COMPLETE UPSCALE REMODEL WITH WALNUT HARDWOOD FLOORS, BUILT-IN BANQUETTE, STONE FIREPLACE, CUSTOM CABINETS, TILE BATHROOMS WITH GRANITE COUNTERS, AND STUNNING KITCHEN WITH CENTER ISLAND. GREAT FLOOR PLAN, HUGE CUSTOM SLIDERS TO LARGE WRAP AROUND ENTERTAINMENT DECK, WITH TILED OUTSIDE BBQ & FRIDGE. HILLSIDE BLUFF LOCATION, QUIET STREET, GOOD PARKING.

Listed with David Carter of Pritchett-Rapf Malibu

4)$1,250,000 for a 4 bedroom 3 bath in the Point Dume Club

JOIN THE ENTERTAINMENT ELITE IN THIS EXCLUSIVE GUARD GATED MALIBU BEACH-SIDE COMMUNITY WHERE THE HOLLYWOOD HIP HIDE OUT FROM THE PAPARAZZI AND HANG OUT IN FABULOUS HOMES FOR A STEAL – LIKE THIS ONE AT ONLY $1.25 MILLION. THIS FANTASY HOME HAS BREEZY OCEAN VIEWS, 4 BEDROOMS, 3 LUXE BATHS, ANTIQUE CABINETRY, CHEF’

S KITCHEN & PVT PATH TO LEGENDARY ZUMA BEACH. THE NEIGHBORS ALONE ARE WORTH THE PRICE!

Listed with Carol Bird of of Westside Estate Agency

5) $1,149,000 for a 3 bedroom 2 bath in Paradise Cove

BEACH PARADISE IN THE OCEANFRONT COMMUNITY OF PARADISE COVE. GREAT UPPER LEVEL LOCATION WITH OCEAN VIEW.OPEN FLOOR PLAN AND UNIQUE PROPERTY WITH GREAT POTENTIAL. SURROUNDED BY BEAUTIFULLY RENOVATED HOMES. OPEN AND SECLUDED OUTDOOR DECK WITH UNOBSTRUCTED VIEW OF THE OCEAN, SURF, MOUNTAIN AND SUNSET. WALK TO SURF AND BEACH FROM YOUR FRONT DOOR. KIDS PLAYGROUND, REC ROOM, TENNIS AND BASKETBALL COURTS.

Listed with Chelsea Bulte of Coldwell Banker Malibu

If you are going to live in a trailer you might as well do it here in Malibu, home of the worlds most expensive trailer park. Chew on this…….There are currently 6 mobile homes for sale in Malibu that are asking over $1,000,000. The highest price coach goes for $1.8m and during the last 3 years there have been almost a dozen sales over $1m! The HOA’s or “space rent” will run almost $2000 per month and you might need to get tags each year with the DMV! What gives you ask! Your green buys blue…………ocean views that is. In these price ranges you are paying for big  180 degree ocean views.

We have two mobile home parks in Malibu that are both located on hundreds of acres of prime real estate nestled up to the beach. Both Paradise Cove and The Point Dume Club sit on bluffs directly over the Pacific Ocean. Many of these mobile homes have ocean views that rival the $20m homes along PCH and both have roads or trails right down to the sand. Neither parks have been hit by tornados and there are rules against “changing the tranny” or “swapping an engine” in your driveway.  What would you pay for a home with  2500 sq.ft., high end appliances, the best finishes, a huge ocean view, and a few steps away from a  stroll in the beach?

Here’s what you get for $1.8m    ” Inspirational ocean views from this architecturally dramatic Malibu Hideaway – Private location overlooking Zuma Beach and Broad Beach coastline – Soaring ceilings and arches – Granite and Marble throughout. Two fireplaces – The finest amenities – Quality construction – office – sun room – sauna – workshop – Steps to beach – Chic, Stunning and Sophisticated for the discriminating client who wants only the BEST!”

Malibu Mobile Home

Malibu Mobile Home

This deluxe coach is  listed with Chris Cortazzo at Coldwell Banker Malibu.

Yes, there are a lot of foreclosures going on in many parts of California, but the Westside and Malibu seem to be a shelter in the storm. Check out these stats from the  

FORECLOSURES – June 1-Dec. 31, 2007

Valley areas not doing so well

• Woodland Hills (91364, 91367) – 
• Tarzana (91356) – 69 foreclosures
• Encino (91316, 91436) – 54 foreclosures
• Sherman Oaks (91403, 91423) – 43 foreclosures
• Studio City (91604, 91602) – 32 foreclosures
• West Hollywood (90046, 90069) – 27 foreclosures

Areas doing well

• Miracle Mile (90036, 90048) – 7 foreclosures
• Beverly Hills (90210, 90211, 90212) – 3 foreclosures
• Brentwood (90049) – 6 foreclosures
• Bel Air/Holmby Hills (90077) – 11 foreclosures

Prime areas

• Sawtelle/West L.A. (90025) – 6 foreclosures
• Westwood (90024) – 11 foreclosures
• Cheviot Hills/Rancho Park (90064) – 3 foreclosures
• Pacific Palisades (90272) – 4 foreclosures
• Venice (90291) – 1 foreclosure
• Santa Monica (90401, 90403, 90404, 90405) – 10 foreclosures
• Santa Monica (90402) – not available (north of Montana where there were likely few)

And Malibu (90265) 1 FORECLOSURE So where are you going to invest in real estate?Here’s a chart where you’d better hope you didn’t buy something recently. Source:  realtytrac