There is no shortage of sales to describe in the Malibu area, with more than 100 homes reported sold during the first four months of the year just in the 90265 zip code alone. The ongoing tapestry of few homes available to plentiful homebuyers, pre-approved with low mortgage interest rates, is again the theme of the year, just like last year.
The following selection of sales, all recorded in the Malibu-area Multiple Listing Service since the start of the year, may give some indication of the values in your neighborhood:
Located about three miles up Latigo Canyon, a contemporary home with high ceilings sold for near its asking price of $895,000. It last sold in 2001 for $650,000. The home has three bedrooms and views toward Point Dume and Whitewater Lane. The home was built in 1991.
A newer home in the Winding Way area, listed with an out-of-area agent, sold for a reported price of $3,725,000, closing escrow this month. The estate has five bedrooms and more than 1 acre. The kitchen is full of granite and has two islands. The exterior featured a large entertainment area and garden oasis, including a specially designed pool and spa.
In the Cavalleri area, a home on 2 acres sold for $2,400,000. That is well above the median average so far this year in Malibu – about $1.8 million. The property has a gated circular driveway, along with pool, spa and waterfall. The home has sold twice now, since a major remodel a few years ago. The home has a two-story entry, library and four bedrooms, among many other features.
A home that sits all by itself with no neighbors near the top of the mountain sold for just more than $1.5 million back in January. It was a new contemporary home, rebuilt from the 1993 fire. With three stories, plus a rooftop deck, the views take in all the Santa Monica Bay, the coastline down to Palos Verdes, and, on a clear day, all the way to Orange County.
At the opposite end of Malibu, on the beach at County Line, a three-bedroom house sold for nearly $2.9 million. With 70 feet of beach, the house has a gourmet kitchen with stainless steel appliances, decks on every level and a media room. The master suite has a steam shower and spa tub. The home is three stories on the sand.
After more than 12 years on and off the market, a home in the Malibu Park area overlooking Zuma Beach has finally sold. Final tally: nearly $4 million. The distinctive property has a feel of the tropical South Pacific on more than an acre, with a tennis court, large pool, several koi ponds separated by Japanese bridges and a huge outside entertainment area. The master bedroom has teak floors and Malibu tiles grace some of the residence. The estate is gated and can capture winter sunsets over the water.
Also in Malibu Park, a home originally built in 1979 at the end of a cul-de-sac down a common driveway sold for $1,125,000. It closed in April. The multilevel home is contemporary with two bedrooms and expansion possibilities. It sits on nearly an acre, though little of it is flat.
In the La Costa Hills, where activity is brisk, a new house with ocean views to the east sold for $2.2 million. The contemporary home of three stories has lots of glass walls to take advantage of the views. An open gourmet kitchen and living room with fireplace and deck are on the main level. The house has four bedrooms.
A Point Dume house has sold at full price, about $1.75 million. On about a half acre full of gardens with a pool, the house has four bedrooms including a spacious master. Country ranch in style, there are hardwood floors and two fireplaces in the home.
A stunning bluff estate on Point Dume sold for $12 million, the second time it has sold in the last 18 months. It is the highest reported sale in Malibu this year. Eight bathrooms serve four bedrooms in a lush, tropical paradise setting, and a short walk to the sand with impeccable views. Not only does the house have huge walls of glass for the views, the glass is curved. Inside the extremely private home is a large master bedroom with his-and-hers bathroom suites opening up to the ocean views.
A Mediterranean home in Malibu Country Estates got full price- $1,895,000. The cul-de-sac home also sold two years ago and now was up in value about 67 percent, pretty typical of Malibu these days. The home has ocean views and three bedrooms. On a level lot, the property has a pool and grassy yard. The house has three bedrooms and a living with vaulted ceilings.
A beach compound at Big Rock sold for $3,375,000. It included a fixer house of two-bedroom and three little cottages, all one bedroom each. Total beach frontage, among as much as you can ever find, is 128 feet.
A Palladian-style 3-acre estate in the Sea Vista neighborhood has sold for $7.4 million. It has eight bedrooms and 10 and a half baths with terrific ocean views and a virtually flat lot. There are sweeping lawns and gardens on the grounds, certainly behind gates, and the house has a billiard room screening rooms, office with fireplace (six fireplaces in the house) and wine cellar. The deal closed in March.
Rick Wallace of the Coldwell Banker Company has been a Realtor in Malibu for 16 years. He can be reached at his web site, www.RICKMALIBUrealestate.com.