Malibu Tops List of Most Expensive Markets in Latest Home Listing Report
Coldwell Banker home value estimator tool that will allow you to compare the market value of your home with other real estate markets in the HLR by running a customized report
Guest Blog Post by Madison Hildebrand
I’m often asked how I ended up in Malibu. With a father whose career spanned the nation, my childhood called several different states “home”: Arizona, California, Texas, and Connecticut. I decided on Pepperdine University for undergrad and never looked back. The school is situated on a hill overlooking the Pacific Ocean and is one of the most beautiful campuses in the country. When friends came to visit me while I was in college, they were baffled by the beauty of it and how I was able to get any school work done. Throughout college, I spent a semester abroad in Argentina, but was excited to make my way back to Malibu and knew that this was where I wanted to plant my roots.
I’ve had many adventures in my life; from traveling, to being involved with “Million Dollar Listing”, and a “never-a-dull-moment” real estate career…I’ve been to many places and met many people, but I have to say…There is no place like Malibu. Malibu was once known primarily as a beach destination/vacation spot and is now shaping into a community that people recognize for its world renowned restaurants, shopping and culture.
According to the 2013 Coldwell Banker Home Listing Report (HLR) which was released today, Malibu has emerged as the most expensive real estate market in the country. Conducted annually, this apples to apples comparison of four bedroom, two bathroom homes in 1,900 markets, is a snapshot of what the real estate market looks like today. Whereas the average four bedroom, two bath home in the surveyed U.S. is $301,414, according to the HLR, the same home in Malibu costs $2.15 million….that’s a $1.85 million difference!
Here is my top 10 list for why I believe Malibu is worth every penny:
1. Natural Beauty
Malibu is a south-facing beach community which means that the sun both sets and rises over the ocean. In addition to beautiful beaches, canyons and indigenous plants, Malibu is home to some of the most incredible sunrises and sunsets that are imaginable.
In Los Angeles, and in many other cities across the country, stellar public schooling is a rarity. Many parents are forced to spend the equivalent of college tuition each year so that their children have adequate education in private schools. Malibu prides itself on having some of the best public schools in L.A. County, in addition to some of the most enriching after school programs, like the Malibu Boys and Girls Club.
Over the past few years, Malibu has really become a significant fine dining destination. With some of L.A.’s finest restaurants like Nobu and Mr. Chow calling Malibu home, we are on the Zagat map in a big way. Aside from that, people flock to Malibu to go wine tasting at our local wineries (thanks to our wonderful coastal climate) and to peruse world class shops and boutiques.
Although we aren’t leaving our doors unlocked at night like in the old days, Malibu has a low crime rate. It is a community that looks after its residents and keeps everyone feeling safe.
5. Weather, Weather, Weather
What can I say! With a year round temperature of 60-70 degrees, people would pay the higher prices just for the mild weather. It’s everything!
Malibu has a truly unique sense of community. After spending some time with its residents, you understand the small town mentality that flows here. We are a close-knit family and come together for important issues like health, the environment and overall safety. It’s a fun place to call home.
7. Real Estate Investing
Yes, Malibu real estate is on the pricier side, but the good news is that it is a smart and solid investment. With limited beach inventory and some of the best and most interesting architecture in the world, the properties here hold their value. Thanks to all of the variables that come together to make this such a great community, Malibu will always be a coveted place to live.
8. Location, Location, Location
If you’ve spent any time exploring the massive county of Los Angeles, you know that each sub-community, has a drastically different vibe. Although Malibu has a population of only 15,000 and has the small town laid back feel of a beach community, you are roughly only 20 minutes away from the hustle and bustle of one of the largest and most diverse cities in the world.
9. Outdoor Activities
Surfing, hiking, rock climbing? – We have it all. Malibu has some of the world’s best state parks and beaches. Having all of this as your back yard playground makes it that much more special every day.
10. Well Being
There is an overwhelming sense of health and well-being in Malibu. Residents clearly have a passion and make it a priority to take care of their bodies, minds and souls. This could be the biggest and most valuable of all the great things about this community. This passion spills over into all things Malibu…even our restaurants make it a point to serve organic farm-to-table food!
Take a look at how how Malibu, Ca, America’s most expensive place to live, compares with Cleveland, OH, America’s most affordable place to live.
Check out the Coldwell Banker home value estimator tool that will allow you to compare the market value of your home with other real estate markets in the HLR by running a customized report here.