The Malibu Real Estate Blog

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  TerraFirmaLA Blog. 

FORECLOSURES – June 1-Dec. 31, 2007

Valley areas not doing so well

• Woodland Hills (91364, 91367) – 100 foreclosures
• 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?  Click here to find out about foreclosures by zip code.  Here’s a chart where you’d better hope you didn’t buy something recently. Source: RealtyTrac.com 

Here are the top ten sites for December.  Realtor.com is leading the pack with Trulia recently passing up Zillow and looking to gain ground. Why is this important? Because everybody starts online when it comes to finding a home. 85% this year will and I estimate that the number will rise to 95% in next few years. Realtor.com gets 5 million hits alone each month.  

One advantage Prudential Malibu has is that we have signed a deal with Yahoo, as you may have seen the recent ads, and  we exclusively get all real estate leads generated online. If someone does a real estate search in Malibu and needs more information our office at Cross Creek gets the call, even if the home is listed at another brokerage. Try it out by doing  a Malibu search at Yahoo Real Estate.

 Years ago a client might ask their agent “How many showings are we getting each week?” or “How many calls”? The new question will be “How many hits did we get?” Good agents will monitor their web traffic and keep you up to date by sending the graphs and data to you. If you are getting a ton of hits but no showings, then maybe the listing price is too high. If you are getting hits and showings, then keep the price as is. There is another site that is not mentioned but has tremendous power in selling a home. Craigslist.com has a real estate section and I always put an add online. That simple add generates over 500 page views and 5000 hits per month. See example below.

Bottom line. Times are a changing! If you are going to list your home you better have an agent who has a foot in the internet arena. I personally have my listings at 4 of the sites mentioned above. Try asking your current agent how many hits you are getting each month. If he or she looks confused and can’t answer,  then it’s time for a new agent. Here’s a number to one that can answer it, confidently! See the proof below for my beach house listing at www.43000pch.com. 1 310 699 8428. Ask for me, Mike G.