LivingMalibu.com » Malibu Best Buy 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 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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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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Best Malibu Beach Buy Today http://www.livingmalibu.com/best-malibu-beach-buy-today/ http://www.livingmalibu.com/best-malibu-beach-buy-today/#comments Mon, 02 Jun 2014 20:55:30 +0000 ritasimpson http://www.livingmalibu.com/?p=3211

If you are looking for a beach house in Malibu, there is nothing that offers you all that this house does: Deep sandy beach, miles of pristine beach to walk, kayak, Paddle board, surf , fish or party! sits across the street to one of the most beautiful nature hikes to a waterfall and is ...]]>

If you are looking for a beach house in Malibu, there is nothing that offers you all that this house does: Deep sandy beach, miles of pristine beach to walk, kayak, Paddle board, surf , fish or party! sits across the street to one of the most beautiful nature hikes to a waterfall and is centrally located so you will never feel the pinch of being on one side or the other of 27 mile long Malibu!

We're sorry, but we couldn't find MLS # 14756003 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

 

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Malibu Best Buy http://www.livingmalibu.com/malibu-best-buy/ http://www.livingmalibu.com/malibu-best-buy/#comments Fri, 09 May 2014 22:53:08 +0000 ritasimpson http://www.livingmalibu.com/?p=3201

A house walking distance to one of our best sandy beaches, in a quiet and lush microclimate on a big 3/4 acre mostly flat private lot by a creek that spills into the nearby ocean has 3 bedrooms 2 baths and is on the market for $1,450,000.

We're sorry, but we couldn't find MLS # ...]]>

A house walking distance to one of our best sandy beaches, in a quiet and lush microclimate on a big 3/4 acre mostly flat private lot by a creek that spills into the nearby ocean has 3 bedrooms 2 baths and is on the market for $1,450,000.

We're sorry, but we couldn't find MLS # 14757123 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

 

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Best Buys Malibu Homes Near The Beach http://www.livingmalibu.com/great-value-malibu-homes-by-beautiful-beaches/ http://www.livingmalibu.com/great-value-malibu-homes-by-beautiful-beaches/#comments Wed, 16 Apr 2014 22:50:08 +0000 ritasimpson http://www.livingmalibu.com/?p=3173

You can’t do much better in Value and Proximity to the beach. These two listings are not only gorgeous, they are right next to the beautiful Malibu beaches of Sea Level and Zuma Beach, close to the Malibu schools, shopping and hiking and equestrian trails. They offer the ultimate expression in Malibu LifeStyle, whether as ...]]>

You can’t do much better in Value and Proximity to the beach. These two listings are not only gorgeous, they are right next to the beautiful Malibu beaches of Sea Level and Zuma Beach, close to the Malibu schools, shopping and hiking and equestrian trails. They offer the ultimate expression in Malibu LifeStyle, whether as a weekend home or family living.

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

 

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Best Buy Malibu Family Home http://www.livingmalibu.com/best-buy-malibu-family-home/ http://www.livingmalibu.com/best-buy-malibu-family-home/#comments Fri, 14 Mar 2014 23:36:57 +0000 ritasimpson http://www.livingmalibu.com/?p=3120

A Magical oasis tucked in the trees and perched above the sea. This beautiful home has breathtaking whitewater ocean views and just a short stroll from the sand.

 

 

A delicious home to live in. Easy and casual one of a kind gem offering three bedrooms and a seamless indoor/outdoor flow onto expansive decks and garden ideal ...]]>

A Magical oasis tucked in the trees and perched above the sea. This beautiful home has breathtaking whitewater ocean views and just a short stroll from the sand.

 

 

A delicious home to live in. Easy and casual one of a kind gem offering three bedrooms and a seamless indoor/outdoor flow onto expansive decks and garden ideal for entertaining and enjoying majestic sunset views. You will fall in love with the natural beauty of this retreat.

We're sorry, but we couldn't find MLS # 14740561 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

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Malibu Contemporary With Pool and Beach Club, Priced Under $3 Million http://www.livingmalibu.com/malibu-contemporary-with-pool-and-beach-priced-under-3-million/ http://www.livingmalibu.com/malibu-contemporary-with-pool-and-beach-priced-under-3-million/#comments Sat, 22 Feb 2014 00:11:32 +0000 ritasimpson http://www.livingmalibu.com/?p=3073

This is the Hottest deal in Malibu Today.

 

Architectural home with 3 Bedrooms and 3 baths all with amazing views of the Pacific Ocean, includes La Costa Beach and Tennis Club deeded rights, beautiful pool and garden. Priced under $3,000,000. Take a look at the details and don’t waste a minute! these don’t come on the ...]]>

This is the Hottest deal in Malibu Today.

 

Architectural home with 3 Bedrooms and 3 baths all with amazing views of the Pacific Ocean, includes La Costa Beach and Tennis Club deeded rights, beautiful pool and garden. Priced under $3,000,000. Take a look at the details and don’t waste a minute! these don’t come on the market every day…

We're sorry, but we couldn't find MLS # 14738061 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

 

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Malibu, Point Dume, Best Buy Home http://www.livingmalibu.com/malibu-point-dume-best-buy-home/ http://www.livingmalibu.com/malibu-point-dume-best-buy-home/#comments Thu, 14 Nov 2013 21:59:06 +0000 ritasimpson http://www.livingmalibu.com/?p=2923

Fabulous Modern style beach home in highly sought after & prestigious Point Dume with deeded beach rights. Five Bedroom + 3 1/2 bath with an open floor plan & tons of natural light with floor-to-ceiling windows & glass doors throughout.

 

Malibu living at its best! Perfect for entertaining, Gourmet kitchen, large living room with wood burning ...]]>

Fabulous Modern style beach home in highly sought after & prestigious Point Dume with deeded beach rights. Five Bedroom + 3 1/2 bath with an open floor plan & tons of natural light with floor-to-ceiling windows & glass doors throughout.

 

Malibu living at its best! Perfect for entertaining, Gourmet kitchen, large living room with wood burning fireplace, and multiple expansive patios opening to park like grounds. One of a kind master suite, with it’s own private patio, huge walk-in closets, and a designer master bathroom with indoor/outdoor shower & stylish free-standing tub. Incredibly private, gated & secure property on close to an acre of land lushly landscaped,  fruit trees, vegetable gardens, flat grassy areas, a bonus pre-fab office structure, and room for a pool. Includes Riviera III Beach rights & just down the street from award winning Point Dume Marine Science School & Cameron Park.

We're sorry, but we couldn't find MLS # 13715193 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

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Unique 120′ Beach Frontage In Malibu Under $4 Million! http://www.livingmalibu.com/unique-120-beach-frontage-in-malibu-under-4-million/ http://www.livingmalibu.com/unique-120-beach-frontage-in-malibu-under-4-million/#comments Fri, 18 Oct 2013 21:19:25 +0000 ritasimpson http://www.livingmalibu.com/?p=2898

Amazing opportunity to own 3 contiguous beach front lots making up 120′ of ocean frontage at the Southern tip of Malibu close to Santa Monica! presently the properties have a spacious one bedroom house with large entertainment decks and a large private volley ball court and sand yard. A blank canvas for your imagination.A rare ...]]>

Amazing opportunity to own 3 contiguous beach front lots making up 120′ of ocean frontage at the Southern tip of Malibu close to Santa Monica! presently the properties have a spacious one bedroom house with large entertainment decks and a large private volley ball court and sand yard. A blank canvas for your imagination.A rare find in Malibu these days. Offers due in November 6. Call me for an appointment.

We're sorry, but we couldn't find MLS # 13711533 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

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Rare Malibu Bluff Property Up For Grabs! http://www.livingmalibu.com/rare-malibu-bluff-property-up-for-grabs/ http://www.livingmalibu.com/rare-malibu-bluff-property-up-for-grabs/#comments Wed, 06 Mar 2013 16:34:33 +0000 ritasimpson http://www.livingmalibu.com/?p=2693

There is a cove in Malibu unlike all others. It hugs the ocean in a generous swoop and releases the eye to miles of pristine sandy beaches and hidden corners. It starts at Escondido Beach near Malibu Cove Colony and extends all the way to Point Dume, passing on the way through Paradise Cove, the ...]]>

There is a cove in Malibu unlike all others. It hugs the ocean in a generous swoop and releases the eye to miles of pristine sandy beaches and hidden corners. It starts at Escondido Beach near Malibu Cove Colony and extends all the way to Point Dume, passing on the way through Paradise Cove, the Riviera at Point Dume, and the famous surf points on Point Dume all the way to the Point.

From this property you can capture all the drama of this landscape while enjoying the privacy of your home. When you want the beach, just go down the private gated road and have a quiet swim.

It’s rare to have a house in the area on the market but last year we had a couple of splendid properties that sold. One of them was Max Palevsky’s extraordinary home that closed in December at $36,500,000 and the other was a bungalow on 3 acres that closed in July at $13,000,000.

If you got the dough, this is the next great buy in Malibu. Get it and make it your Shangrila.

We're sorry, but we couldn't find MLS # 13654019 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

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