This will be short and brief but I wanted to let you know I’m excited!!  Finally, the market is moving a bit and I’m starting to see value in the market.  In the time period from 1/1/10 to 2/21/10 we had 17 recorded sold properties in Malibu as compared to last year, during the same time period, we had 11 recorded sold properties.  Also, there are at least 3 properties in escrow right now that are bank owned and very close to the $1M range with ocean views and/or centrally located. 

Rick Wallace, another local Malibu real estate agent that has been compiling data for years and years, states that “Malibu's residential real estate market saw a 33 percent plummet in values in 2009”, and that “The Malibu median price, the point at which half the homes sell for more and half sell for less, is just above the level of 2004.” (The Malibu Times, February 10, 2010)

I believe that the sellers, or ‘bankers’ as the owners may be, have finally gotten the message in Malibu and realize that to sell a home you must be willing to negotiate with what the market is willing to pay, not the values of days past.  So buyers, now’s the time to find that CASH, I see the opportunity for significantly more discounts on homes for those that can afford to purchase with all cash.  Even if you wanted to consider working with a group of investors to jointly purchase, remodel, hold and then sell in several years, depending on the risks you’re interested in taking, I am seeing some opportunities.

Thank you for your time, and I look forward to hearing from you. 

Janet Siderman
(310)924-4631
janet@callmalibuhome.com