LivingMalibu.com » How’s The Market http://www.livingmalibu.com Malibu Real Estate-Malibu Homes For Sale Tue, 18 Jul 2017 20:51:46 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Best Properties Under $2 Million For Sale In Malibu Today http://www.livingmalibu.com/best-properties-under-2-million-for-sale-in-malibu-today/ http://www.livingmalibu.com/best-properties-under-2-million-for-sale-in-malibu-today/#comments Tue, 10 Nov 2015 19:35:27 +0000 ritasimpson http://www.livingmalibu.com/?p=3483

From a newly built designed home with head on ocean views to the hands down  best buy in Malibu…these homes are sure to spark your interest. A nature lover’s dream., Malibu offers a community with no match in the Los Angeles area. One of these homes has never been on the market since it was ...]]>

From a newly built designed home with head on ocean views to the hands down  best buy in Malibu…these homes are sure to spark your interest. A nature lover’s dream., Malibu offers a community with no match in the Los Angeles area. One of these homes has never been on the market since it was built in 1960, an authentic mid-century, owned by the UCLA Foundation!

Other options include a stunning Malibu architectural home designed by renowned architect Finn Kappe.  A one-of-a-kind home, that combines incredible design & magnificent canyon views, on a beautifully landscaped full acre.

Or choose  amazing ocean views and mountains  in the post and beam craftsman home that has the feel of a tree house.

But if you like a  dramatic residence, then you might choose the one designed by acclaimed architect, Jack Moses which sits breathtakingly perched in the Monte Nido area with staggering panoramic views of the Santa Monica Mountains.

Either way, any of these homes is an opportunity to move to Malibu under $2 million dollars and start living a new way of lif

Sorry, but we couldn't find any results in the MLS that match the specified search criteria.

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Malibu is the Value Area In Los Angeles to Buy Right Now http://www.livingmalibu.com/malibu-is-the-best-area-in-los-angeles-to-buy-right-now/ http://www.livingmalibu.com/malibu-is-the-best-area-in-los-angeles-to-buy-right-now/#comments Tue, 22 Sep 2015 00:46:05 +0000 ritasimpson http://www.livingmalibu.com/?p=3467

Moderate prices is Not the first thing that comes to mind when one thinks about Malibu Real Estate. However for the savvy buyer, the celebrity enclave, studded with multi-million dollar estates along the beaches and  beautiful canyons offers more value and potential upside than any of the competing luxury markets in the Los Angeles area. ...]]>

Moderate prices is Not the first thing that comes to mind when one thinks about Malibu Real Estate. However for the savvy buyer, the celebrity enclave, studded with multi-million dollar estates along the beaches and  beautiful canyons offers more value and potential upside than any of the competing luxury markets in the Los Angeles area. Take a look at some of the figures:

In the past year Santa Monica’s  Median home price jumped from $1,892,000 to $2,299,000 during the same period (January-September, in 2014 to 2015), that was a 21.5% price increase,  meanwhile price per square foot during the same period increased by 17% to $1,114/Sq Ft and a 42 day average time on the market,  In the Pacific Palisades the Median went from $2,542,500 to $2,875,000, a 13% increase while the price per SqFt increased by nearly 11%  to $993 and properties stayed and average of 57 days on the market. In Beverly Hills the Median climbed to $4,877,000 from $4,300,000, a 13.5% appreciation, while the price per square foot came up around 15% to $1,370 with  houses sitting 85 days on the Market. In Malibu by contrast, if you included beach front and land side properties, you would see a mostly flat market with price increases in the low single digits and and average of 143 days to close. Beach properties in particular, stayed longer on the market and the Median price, so far this year, has actually declined to $5,175,000, an 18% drop from last year. The Median for land side properties have mostly remained stable hovering around the $2,200, 000  and even the fabled Point Dume area has quieted down with a median now approaching $4,300,000 a 14% drop from last year and a 5% drop in the average price per square foot to $1,440.

Of course you may want to have a wider perspective of the real estate market in the Los Angeles area to appreciate the value proposition. Here is a great article posted on Curbed  that covers the wider Los Angeles housing market.

Malibu is indeed a luxury market of it’s own.  While properties s do not move as quickly as in other luxury areas in Los Angeles,  when families choose to be here, it’s usually for life. It is a community. It is “a way of life” as we say…nothing better in sight!

Take a glimpse at these three examples of homes priced at the median range:

Sorry, but we couldn't find any results in the MLS that match the specified search criteria.

 

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Malibu Road Properties Values Soar http://www.livingmalibu.com/malibu-road-properties-values-soar/ http://www.livingmalibu.com/malibu-road-properties-values-soar/#comments Tue, 21 Apr 2015 17:37:29 +0000 ritasimpson http://www.livingmalibu.com/?p=3412

Malibu Road has always been one of the favorite beach property locations for buyers moving into Malibu. In the last 12 months the median price paid for a home on Malibu road soared  by 38.8% from the previous 12 month period. While price per square foot soared by 25.8%.

The reason people like Malibu Road as ...]]>

Malibu Road has always been one of the favorite beach property locations for buyers moving into Malibu. In the last 12 months the median price paid for a home on Malibu road soared  by 38.8% from the previous 12 month period. While price per square foot soared by 25.8%.

The reason people like Malibu Road as a beach property destination?  MANY and not only for the gorgeous and mostly private beach but also for sure because It’s central: close to everything Malibu. You can walk into town to the Malibu Lumber Yard the heart of all commercial activity in Malibu. There you can enjoy top tier shopping, restaurants, movies, there is even a great childrens park, so you can take a break, or even take a walk around the Malibu Lagoon where you can bird watch, go to the beach or visit the Adamson House home of the original family that owned all of Malibu and the original Malibu Tiles .

Sorry, but we couldn't find any results in the MLS that match the specified search criteria.

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Spring To A Malibu Beach Home http://www.livingmalibu.com/spring-to-a-malibu-beach-home/ http://www.livingmalibu.com/spring-to-a-malibu-beach-home/#comments Tue, 17 Mar 2015 17:21:43 +0000 ritasimpson http://www.livingmalibu.com/?p=3393

One of the most perfect times to be at the beach in Malibu is during Spring time. Watch the whales migrating back north, or the newly hatched birds on the beach. Temperatures are soft and the sky is clear.

Here are the 3 selected properties for each of the most popular price brackets: $2 million, $4 ...]]>

One of the most perfect times to be at the beach in Malibu is during Spring time. Watch the whales migrating back north, or the newly hatched birds on the beach. Temperatures are soft and the sky is clear.

Here are the 3 selected properties for each of the most popular price brackets: $2 million, $4 million and $10 million

At around $10 million I feel the listing at 31026 Broad Beach offers something hard to find in this very polished community: old school East Coast charm.

At around $2 million you can enjoy a turnkey beautiful home on Big Rock beach. Close to town yet miles away from any reminder of city life. Instead of city noise you will have dolphins, whales and pelicans to watch.

If you are inclined on a project, the cottage on 24348 Malibu Road may be a great opportunity for you. With over 50′ of ocean frontage and an impeccable location, this may be on e of the best opportunities for upside at the beach.

Here are the details:

We're sorry, but we couldn't find MLS # 15884661 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 15885907 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 15879747 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

 

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Making It Easier To Find The Malibu Home You Are Looking For http://www.livingmalibu.com/making-it-easier-to-find-the-malibu-home-you-are-looking-for/ http://www.livingmalibu.com/making-it-easier-to-find-the-malibu-home-you-are-looking-for/#comments Sun, 08 Feb 2015 18:41:52 +0000 ritasimpson http://www.livingmalibu.com/?p=3372

Searching for homes on the internet is easy and fun, But finding the right home is still a daunting task. The possibilities can be confusing and the descriptions and pictures misleading.

To make it easier for you to find the right home in Malibu, I have decided to do an experiment: in the month of February, ...]]>

Searching for homes on the internet is easy and fun, But finding the right home is still a daunting task. The possibilities can be confusing and the descriptions and pictures misleading.

To make it easier for you to find the right home in Malibu, I have decided to do an experiment: in the month of February, I will post listings on my blog by the Special Characteristics that distinguish them from the rest. My hope is, if the special characteristic resonates with you, it might just be the Malibu home you were looking for.

To start:

1- The most charming and inexpensive Malibu cottage near the beach :

We're sorry, but we couldn't find MLS # 14794673 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

2- The Most Romantic Malibu Beach Cottage:

We're sorry, but we couldn't find MLS # 14800509 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

3- Most Stunning Malibu Beach house:

We're sorry, but we couldn't find MLS # 15820665 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

4- Best Deal on Point Dume:

We're sorry, but we couldn't find MLS # 14766325 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

5- Best Deal On a Malibu Family Home:

We're sorry, but we couldn't find MLS # 14752175 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

6-Best Views Point Dume Bluff Estate:

We're sorry, but we couldn't find MLS # 13686505 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

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Third Quarter Malibu Market Update http://www.livingmalibu.com/third-quarter-malibu-market-update/ http://www.livingmalibu.com/third-quarter-malibu-market-update/#comments Sat, 08 Nov 2014 20:32:03 +0000 ritasimpson http://www.livingmalibu.com/?p=3353

Few names evoke visions of casual elegance of beach living as readily as Malibu. Situated close to the mega metropolis of Los Angeles, Malibu has been home to some of the most influential people in the world. The beauty of the varied terrain and the pristine beaches and rural feel are hard to find anywhere ...]]>

Few names evoke visions of casual elegance of beach living as readily as Malibu. Situated close to the mega metropolis of Los Angeles, Malibu has been home to some of the most influential people in the world. The beauty of the varied terrain and the pristine beaches and rural feel are hard to find anywhere else in Southern California.

The third quarter showed continued strength and upward price appreciation in all segments of the real estate market. Take a look at the tables bellow.

Malibu Landside Properties had robust growth in the upper segment of the market, properties over $3 million dollars with a 37% increase in the Median of sold properties compared to the same quarter last year!

The Beach side properties showed increased activity in the medium segment of properties priced under $3 million where the Median of sold properties increased by 17% in the last quarter compared to the same period last year. Here are the details:

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Live The Dream! http://www.livingmalibu.com/live-the-dream/ http://www.livingmalibu.com/live-the-dream/#comments Wed, 22 Oct 2014 16:47:41 +0000 ritasimpson http://www.livingmalibu.com/?p=3338

Don’t let the reputation of Malibu being a town of Celebrities and Tycoons deter you from finding your dream home right here.

While it is true that Malibu is a peaceful enclave and hideaway for the very rich and famous, there are also plenty of average income families that live here and enjoy the amazing beauty ...]]>

Don’t let the reputation of Malibu being a town of Celebrities and Tycoons deter you from finding your dream home right here.

While it is true that Malibu is a peaceful enclave and hideaway for the very rich and famous, there are also plenty of average income families that live here and enjoy the amazing beauty and amenities that come with making Malibu your home.

Today the median price in Malibu is about $3,200,000, but there are plenty of other opportunities to make Malibu your home if you want to spend under a million dollars.

From homes to condos or even the famous Malibu beach mobile homes. Choices are varied but the joy is the same, take a look at some of the options on the market today.

There are over 659 condominium units in Malibu, and while inventory of properties for sale is down by 15% from 2 years ago those who bought in that period benefited handsomely from their decision: The Median increased by 82%  for the overall Malibu condo market, while condos at the beach had their medians go up by an astounding 669%!  So don’t be shy!

There is a wide variety of Condominium choices in Malibu. The most affordable ones are the Complexes near Pepperdine University and the Malibu Garden complex, where the Median is in the mid $500K. You can also shop a handful of other complexes like the Tivoli Cove (beach side), The Pointe and Zumirez to name a few in the under one million dollars range. After that you will step into the territory of the under one million and a half. Here you will have a variety of locations from closer into town to all the way in West Malibu and enjoy wider views and a more rural atmosphere.

Here are some choices on the market today. This is just a sample. Please don’t hesitate to call me 310-617-0996 if you want to explore the possibilities.

Sorry, but we couldn't find any results in the MLS that match the specified search criteria.

 

 

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International Buyers Guide For Malibu and the USA http://www.livingmalibu.com/international-buyers-guide-for-malibu-and-the-usa/ http://www.livingmalibu.com/international-buyers-guide-for-malibu-and-the-usa/#comments Sat, 30 Aug 2014 17:12:10 +0000 ritasimpson http://www.livingmalibu.com/?p=3324

Foreign buyers have flooded our Malibu market but few know how to navigate the system. Here is a guide to help you get the Malibu property you seek. In the US, almost all new real estate listings are posted to the Multiple Listing Service – or MLS – within 24 hours of coming up for ...]]>

Foreign buyers have flooded our Malibu market but few know how to navigate the system. Here is a guide to help you get the Malibu property you seek.
In the US, almost all new real estate listings are posted to the Multiple Listing Service – or MLS – within 24 hours of coming up for sale. This ensures that active listings are available to all agents, and differs from practices in many other countries, where buyers have to go from agent to agent to find a property. However, a number of listings in certain markets – the luxury market in particular – remain “pocket” or “quiet” listings. Hence, it is important to have a real estate agent who is a specialist in the area you are interested in who is well connected in the community.
COMMISSIONS
The sales commission in the US is always paid by the seller, and then divided equally between both the buyer’s and seller’s brokers and agents. Generally, commissions range from 2 to 5 percent, depending on the property and the market. Buyers here don’t pay a dime to have an agent working on their behalf, and it is therefore always advisable to work with an experienced broker or agent who will protect your interests in the transaction, and to be loyal to the agent working on your behalf so that they invest in you the time required to best serve you.
WHAT YOU NEED TO PROVIDE:
 To purchase a home, be ready to prove who you are. You don’t need to be a US citizen, but you do need an Individual Taxpayer Identification Number. This is a number assigned by the Internal Revenue Service to foreign nationals who need to file income tax returns, something you will have to do when 
buying real estate here. You will also need a valid foreign passport, or two or more current photo identifications such as a driver’s license, in order to verify who you are and your country of origin. Though property ownership isn’t tied to immigration or visa status, there are still rules about how long 
you can stay in the US, so if you’re not a citizen, check out US visa requirements before you purchase.

FINANCING:
Qualified foreign buyers can generally obtain financing for properties with a 30% down payment – though certain
markets require a 40% down payment. Check the specific state requirement where you plan to buy.
Banks are happy to offer mortgages to foreign buyers, but they usually require a relationship with the customer that
goes beyond just the mortgage. Some banks, such as HSBC (which does a great deal of foreign homebuyer financing) have a requirement that the buyer hold a $100,000 deposit with their bank. Banks often also want to see proof of 12 months’ reserves to cover mortgage payment, maintenance, and taxes, in addition to the $100,000 mentioned above.
I have relationships with many of the major mortgage banks, and  can help you find a lender and mortgage terms
that best suit your needs. Please get in touch if you’d like more specifics on various financing options.
VERIFICATION DOCUMENTS:
International buyers will usually be asked to provide the following documents, so it’s a good idea to get them in order
ahead of time:
Credit References:Usually at least four references from credit sources will be
required for mortgage loan applications. These documents must come from finance professionals such as accountants,
bankers, or insurance officials. This is very important – in 2012, US realtors reported that most of the deals that fell
through with foreign buyers did so because the buyers lacked adequate credit history.
Proper Visa or Foreign Passport Copy
Double check to make sure these documents haven’t expired and aren’t expiring anytime soon.
Verification of Rent/Mortgage Payments: Proof of rent or mortgage payments are generally required for a period of at least one year before the application.
Proof of Employment: International buyers, just like US buyers, will be asked to :You will need to show that you can afford the purchase, as well as have funds on reserve to cover the full first year of payments, insurance costs, taxes, etc.
Every US lender requires borrowers to purchase homeowners insurance to protect the home from any potential damage
and natural disasters. Insurance costs vary based on the size of the property and by state. Costs tend to be significantly
higher in states prone to natural disasters, such as Florida
and Texas.
EVERYTHING YOU WANT TO KNOW ABOUT TAXES
Tax liability is different for foreign nationals than it is for US residents. Here’s a quick breakdown of major distinctions:
•  While federal tax on long term investments (holding property for over a year) is 15% for US residents, foreigners pay 30%.
•  Under the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA), income tax is withheld immediately after a non US-resident sells property. The rate varies from state to state, but the federal rate is a flat 10%.
•  The IRS requires a “Statement of Withholding on Dispositions by Foreign Persons of US Real Property 
Interests.” In addition, many states request a “Nonresident Real Property Estimated Income Tax Payment Form.”
•  I recommended seeking the expertise of a professional tax accountant to provide assistance with these forms. Consult a Tax Specialist in Your Home Country An international buyer’s overall tax liability will also differ country to country based on the home country’s tax treaty with the US. Therefore, it’s best to consult a tax advisor in the buyer’s country of residence, who is familiar with the tax treaty 
and its provisions. The capital gains rate for US residents is 20% (if the property was owned for more than one year) but it could be higher if you are from certain countries. Check with a local 
tax specialist before you buy.

RENTAL INCOME
US law requires that the foreign nationals “elect“ to pay US income taxes on any net income earned from rental property. If this election is not made in a timely fashion – and the proper forms filed with the IRS – a tax of 30% of the gross rental income will be demanded. Even if the property owner is incurring tax losses initially and doesn’t owe any taxes to the government, he or she must still file their tax returns in order to make the “election” required by law.
DEDUCTIONS!
The good news is that international buyers who finance their purchases with a 40 to 50% down payment will generally not pay income taxes on their rental income for the first 10 to 15 years, since the US is very generous when it comes to expenses that can be deducted from rental income. Mortgage interest, common charges, depreciation, property taxes, insurance, and amortization of closing costs can all be claimed as deductions against income, so in the early years your property will generate negative taxable income and you will not have any tax liability.
NOTE: You Do Not Have To Be in the US to Close the Deal.
When the property is officially closed on and transferred to the new owner, the new owner does not need to be in the
US. Instead, the owner can provide his or her representative (usually a broker) with “Power of Attorney,” and then the
representative will close the deal on behalf of the new owner. This is a common practice and can be very convenient for the buyer who does not want to come back to the US for the closing. Talk to your realtor about that possibility if it may
interest you.
.ESTABLISHING AN LLC
 International buyers should ask themselves if it suits their interests to buy under the name of a domestic US company, or LLC (Limited Liability Company). Although there are benefits to buying through a LLC, such as tax incentives, certain treaties between a foreign country and the US can sometimes detract from those advantages. Foreign buyers should do their research ahead of time, and enlist the help of a tax adviser who specializes in international law.
Here are six things you should know about LLCs in the United
States:
1. It takes one week or so to form an LLC.
2. The LLC has to be created in the same state as the
property to be purchased.
3. The LLC is required by law to file local, state, and federal
tax returns.
4. An LLC can include foreign nationals and US residents.
5. At the time of sale, property owners can sell or transfer
shares of the LLC to a buyer.
6. A US-based LLC can be owned by a Foreign Corporation
for additional benefits.
Tip – If You Want To Avoid the US Estate Tax
When a non US-resident dies, his or her estate will be taxed by the US government at roughly 45%. This can be avoided if the international buyer sets up a Limited Liability Corporation (LLC) – which owns the property – and a Foreign Corporation to own the LLC. Since the property in this scenario is owned by the Foreign Corporation, the US would not be able to tax it upon the death of the owner. This can be a huge tax savings and is not very expensive or time intensive to implement, especially if you solicit professional help.
If you are considering buying property in Malibu or the Los Angeles area, give me a call 310-617-0996. I will make your search easy fun and productive!
This is meant as a general guide. Please consult an international tax attorney before you make any decisions.
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Malibu Beach Home Sales Soaring http://www.livingmalibu.com/malibu-beach-home-sales-soaring/ http://www.livingmalibu.com/malibu-beach-home-sales-soaring/#comments Mon, 18 Aug 2014 19:38:37 +0000 ritasimpson http://www.livingmalibu.com/?p=3313

Malibu Beach properties are selling at a very fast pace this year despite the lull in the broader market.

While sales in the over a million dollar homes grew by 9.1% ,  sales overall fell 7.4%, according to a recent study performed by San Diego-based DataQuick. Additionally, California in the second quarter set all-time records for the ...]]>

Malibu Beach properties are selling at a very fast pace this year despite the lull in the broader market.

While sales in the over a million dollar homes grew by 9.1% ,  sales overall fell 7.4%, according to a recent study performed by San Diego-based DataQuick. Additionally, California in the second quarter set all-time records for the number of homes sold for more than $2 million, more than $3 million, more than $4 million and more than $5 million.

In Malibu, during the last six months,  we experienced a 40% increase in the Median of sold beach properties!

Here are the recently sold homes:

Sorry, but we couldn't find any results in the MLS that match the specified search criteria.

 

What’s driving these high-end home sales? According to market-watchers, there are several factors.

One is the hot technology sector in the Bay Area and some affluent parts of Southern California, which is minting new millionaires who can afford seven-figure homes. Another is the 11.6% price growth in California over the last year, which means a house worth $925,000 last summer may be worth $1.03 million today. And there’s the influx of international buyers, which is pushing up prices at the high end.

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Malibu / In-Town Q2 Comparative Market Update http://www.livingmalibu.com/malibu-in-town-q2-comparative-market-update/ http://www.livingmalibu.com/malibu-in-town-q2-comparative-market-update/#comments Mon, 04 Aug 2014 21:40:41 +0000 ritasimpson http://www.livingmalibu.com/?p=3273

The Malibu Real Estate market remained strong in the second quarter.  Compared to last year’s Q2, average prices for the whole area increased by 12.5% to $3.15 million and the Median jumped by 16% to $2.5 million. While sales volume at the beach decreased compared to landside sales,  the average prices at the beach jumped ...]]>

The Malibu Real Estate market remained strong in the second quarter.  Compared to last year’s Q2, average prices for the whole area increased by 12.5% to $3.15 million and the Median jumped by 16% to $2.5 million. While sales volume at the beach decreased compared to landside sales,  the average prices at the beach jumped by 25% a 8% advantage over  the landside properties in Malibu, where sales remained at same levels of  Q2-2013.

Santa Monica by contrast experienced a slight decrease in  volume of SFR sales but had a 6% increase in PPSF. Condo sales however jumped more than 25% in Santa Monica.

In Bel Air, Mega deals characterized the first half of 2014 with six deals over $20 million and the historic sale of 350 N. Carolwood Dr at $102 million!

In Beverly Hills continued strong demand in the high end of the market pushed average prices by 16% to $5.2MM, and a couple of closing above $30 million.

The Sunset Strip area saw SFR sales soften last quarter with prices down by 8% and condo prices dramatically down by 24% causing the volume of condo sales in the area to double!

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