Welcome!

News Feed Item

Record Prices Earned for Vacant Lots in a Warming Malibu Real Estate Market

MALIBU, Calif., April 4, 2014 /PRNewswire/ -- The Malibu real estate market is seeing strong demand for its prime vacant lots.  Vacant lots, close to the ocean, with unobstructed whitewater ocean views and flat building pads are in extremely low supply, and demand is surging for the last remaining pieces.  The surging demand is also felt at MariSol, Malibu's largest development for vacant Malibu lots.  Scott Morris, Director of Sales for the exclusive MariSol community says "We are seeing strong sales of our vacant lots.  I think it's a testament to the unmatched features of our lots as well as the low supply currently for vacant lots in Malibu.  As the memorable Mark Twain once said, 'Buy land, they're not making it anymore.' That is certainly true to this day."

Over the last year, the most prime lots in the Malibu real estate market sold in a flurry that was so fast and valuable that is has only ever been seen once before.  According to the MLS/CLAW, there were 5 vacant lot sales over $3 million just over the span of only one year.  The only other time that has been replicated was during the hot Malibu real estate market from 1/22/07 to 1/23/08 when 5 vacant lots sold over $3 million as well.  See below for a list of the prime lots under 4 acres and over $3 million that sold in the past year.

ADDRESS

LP

LSZ

ST DATE

SP

MLS

24900 Pacific Coast HWY

$8,750,000

135,036

01/10/14

$7,800,000

13-643381

11824 ELLICE ST

$7,000,000

43,594

03/27/14

$6,500,000

11-569893

11744 ELLICE ST

$8,000,000

43,638

11/22/13

$5,500,000

11-569887

25306 MALIBU RD

$3,995,000

8,061

07/29/13

$3,700,000

12-640289

11902 ELLICE ST

$4,000,000

43,561

11/15/13

$3,100,000

11-567837

Copyright © 2014 by TheMLS.com 4/4/14

Three out of the five sales were on Ellice St, located in the private residential development known as MariSol Malibu.  The MariSol development has dominated the Malibu real estate market in recent years most notably for its vacant lots (there was also a near record-breaking home sale in the community for $16M).  According to Scott Morris, this dominance is attributed to a variety of factors.  "Most importantly are the extraordinary unobstructed oceanfront views and a resort-style lifestyle that feels like you are truly 'off-the-grid' but only 30 miles from Santa Monica.  Also, our lots are not just your typical undeveloped dirt lot, but they are completely landscaped with all utilities, and ready to begin construction ASAP without needing to apply for a Coastal Commission Permit.  We also provided construction management and permit approval free of cost to our most recent buyers."

In conclusion, the Malibu real estate market is firing up and especially the market for vacant lots is in very high demand.  There is a very limited supply of prime oceanfront lots in Malibu, and the majority of the small supply is located in MariSol.  The resort-style atmosphere felt at MariSol, combined with its unobstructed views and comparatively easy build process, pushes the demand of its lots high and beckons some to desire their own piece of Malibu, because as Twain said, "they just aren't making any more land."

                                                                          

SOURCE MariSol Malibu

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
DX World EXPO, LLC, a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Conference Guru has been named “Media Sponsor” of the 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organizers to pass great deals to gre...
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develop...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...