Malibu, CA

By The Malibu Real Estate Blog

Themaliburealestateblog.com

No, you can't buy a home, condo, or trailer but you will get a one-month lease on a prestigious beach with neighbors who are on the paparazzi hit list. Yes, spring in near and Malibu Mega Beach House leases are just about to go up on the auction block for the who's who to fight over.March Madness in Malibu has nothing to do with sports and more to do with people scrambling to secure the best beach leases. "Players," not on the ball, who don't secure a lease early may be forced to "slum it" on lesser "$50k per month" beaches where your neighbor's private 4th of July firework show may only last a paltry 30 minutes instead of an hour and the caviar might be California paddlefish not Russian Sevruga. Life's tough ain't it?

I predict that this year will have more demand than any previous year and we'll see numerous listings above $100k per month. There currently 5 listings between $80k and $90k per month located in the Malibu Colony and on Malibu Road and most will require a three-month minimum and a hefty deposit. Previous years saw 4 homes break the $100k per month mark with one topping out at $120k on Broad Beach. Even celebrities are cashing in on the rental action. Cindy Crawford and Rande Gerber recently put their own house up for lease at$35k per month. The property is fairly priced considering that just a few miles to the south is Broad Beach where rents run $50-$120k per month. Click Here to do a search for Malibu Summer Beach Leasesenter x55032 for ID and Malibu for password

By The Malibu Real Estate Blog

Themaliburealestateblog.com

If you thought Malibu real estate prices were sky high how about a 1800 Sq. Ft. town house on the Upper East Side for $64 million! The pricey abode has 30 rooms, 15 bedrooms, 17 bathrooms, 17-foot ceilings, and a rooftop garden with grand views. If it sells it will break the previous record high sales price set by the sale of the $53 million dollar Harkness Mansion on East 75th Street. Malibu's highest price listing comes in at $75 million. The recent sale of a Carbon Beach home in the $55 million dollar range sets a new beach-side sales record. There are two large projects being built now that could turn in to Malibu's first $100 million dollar listings if the gilded age continues. New York real estate companies are claiming that they haven't seen this kind of sales frenzy since the dot-com days of 2000. The number of apartments the sold above $10 million have more than tripled since 2006. What could this mean for Malibu? Well my guess is that if you can afford a Manhattan condo for $10 million, then a Malibu Road beach house for the same price might be pretty tempting, especially when we are having a 70 degree winter. Time and money will tell.

By The Malibu Real Estate Blog

Themaliburealestateblog.com

The growing demand for high-end finished products in the Malibu real estate market continues to be met with new homes like this. Listed at $25,000,000, this stunning East Coast traditional sits on the cliffs of Point Dume above the Pacific Ocean. The home sets a new record asking price for this section of ocean view bluff and will most likely elevate the value of all the neighboring properties when a sale is finalized. The home was built by Albino Construction, known for building the highest quality homes that are almost always purchased by celebs or entertainment titans. It features 7 bedrooms and 11 bathrooms with 8756 Sq. Ft. on little over one acre of prime Malibu soil. There is an infinity edge pool, expansive ocean views, and direct beach access via a private gate with your own path to the sand. If you love the homes in the Hamptons, the weather in Southern California, and can afford to buy a small country, then you've found you're perfect home.

Listing courtesy of Chris Cortazzo of Coldwell Banker Malibu

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 will 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 have been hit by tornados.

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!"

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 again 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? Click here to find out about foreclosures by zip code.