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
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, will show how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningfu...
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
See storage differently! Storage performance problems have only gotten worse and harder to solve as applications have become largely virtualized and moved to a cloud-based infrastructure. Storage performance in a virtualized environment is not just about IOPS, it is about how well that potential performance is guaranteed to individual VMs for these apps as the number of VMs keep going up real time. In his session at 18th Cloud Expo, Dhiraj Sehgal, in product and marketing at Tintri, will discu...
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
In his session at 18th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., will focus on real world deployments of DDoS mitigation strategies in every layer of the network. He will give an overview of methods to prevent these attacks and best practices on how to provide protection in complex cloud platforms. He will also outline what we have found in our experience managing and running thousands of Linux and Unix managed service platforms and what specifically c...
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry's single source for the cloud. Fusion's advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud...
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
Between the mockups and specs produced by analysts, and resulting applications built by developers, there exists a gulf where projects fail, costs spiral, and applications disappoint. Methodologies like Agile attempt to address this with intensified communication, with partial success but many limitations. In his session at 18th Cloud Expo, Charles Kendrick, CTO & Chief Architect at Isomorphic Software, will present a revolutionary model enabled by new technologies. Learn how business and devel...