Click here to close now.

SYS-CON MEDIA Authors: Elizabeth White, XebiaLabs Blog, Liz McMillan, David Sprott, Carmen Gonzalez

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
The Open Compute Project is a collective effort by Facebook and a number of players in the datacenter industry to bring lessons learned from the social media giant's giant IT deployment to the rest of the world. Datacenters account for 3% of global electricity consumption – about the same as all of Switzerland or the Czech Republic -- according to people I met at the recent Open Compute Summit in San Jose. With increasing mobility at the edge of the cloud and vast new dataflows being pre...
GENBAND has announced that SageNet is leveraging the Nuvia platform to deliver Unified Communications as a Service (UCaaS) to its large base of retail and enterprise customers. Nuvia’s cloud-based solution provides SageNet’s customers with a full suite of business communications and collaboration tools. Two large national SageNet retail customers have recently signed up to deploy the Nuvia platform and the company will continue to sell the service to new and existing customers. Nuvia’s capabili...
WHOA.com has announced the newest addition to its data center footprint with the expansion into Equinix's newest state-of-the-art facility: DC-11 Washington, DC IBX+. Located in Ashburn, VA, this data center expands Whoa.com's presence to meet rapidly expanding customer demand for secure cloud solutions. Equinix, Inc. operates International Business Exchange™ (IBX®) data centers in 32 markets across 15 countries in the Americas, EMEA, and Asia-Pacific. Equinix is committed to operating faciliti...
WSM International is launching a DevOps services division that offers assessment, consulting and implementation to large enterprises and organizations with complex infrastructures. This is the first independent services company to create a dedicated practice to help organizations looking to transition to the DevOps model. The concept of DevOps is to blend information technology (IT) software development with operations to optimize the computing infrastructure according to the specific needs of ...
SYS-CON Events announced today that Cisco, the worldwide leader in IT that transforms how people connect, communicate and collaborate, has been named “Gold Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Cisco makes amazing things happen by connecting the unconnected. Cisco has shaped the future of the Internet by becoming the worldwide leader in transforming how people connect, communicate and collaborat...
Temasys has announced senior management additions to its team. Joining are David Holloway as Vice President of Commercial and Nadine Yap as Vice President of Product. Over the past 12 months Temasys has doubled in size as it adds new customers and expands the development of its Skylink platform. Skylink leads the charge to move WebRTC, traditionally seen as a desktop, browser based technology, to become a ubiquitous web communications technology on web and mobile, as well as Internet of Things...
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
SYS-CON Events announced today that robomq.io will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. robomq.io is an interoperable and composable platform that connects any device to any application. It helps systems integrators and the solution providers build new and innovative products and service for industries requiring monitoring or intelligence from devices and sensors.
Modern Systems announced completion of a successful project with its new Rapid Program Modernization (eavRPMa"c) software. The eavRPMa"c technology architecturally transforms legacy applications, enabling faster feature development and reducing time-to-market for critical software updates. Working with Modern Systems, the University of California at Santa Barbara (UCSB) leveraged eavRPMa"c to transform its Student Information System from Software AG's Natural syntax to a modern application lev...
Today, IT is not just a cost center. IT is an enabler and driver of business. With the emergence of the hybrid cloud paradigm, IT now has increasingly more capabilities to create new strategic opportunities for a business. Hybrid cloud allows an organization to utilize multi-tenant public clouds, dedicated private clouds, bare metal hosting, and the associated support and services for the right use cases through an on-demand, XaaS model. This model of IT creates tremendous opportunities for busi...
Hosted PaaS providers have given independent developers and startups huge advantages in efficiency and reduced time-to-market over their more process-bound counterparts in enterprises. Software frameworks are now available that allow enterprise IT departments to provide these same advantages for developers in their own organization. In his workshop session at DevOps Summit, Troy Topnik, ActiveState’s Technical Product Manager, will show how on-prem or cloud-hosted Private PaaS can enable organ...
In today's digital world, change is the one constant. Disruptive innovations like cloud, mobility, social media, and the Internet of Things have reshaped the market and set new standards in customer expectations. To remain competitive, businesses must tap the potential of emerging technologies and markets through the rapid release of new products and services. However, the rigid and siloed structures of traditional IT platforms and processes are slowing them down – resulting in lengthy delivery ...
Docker is an excellent platform for organizations interested in running microservices. It offers portability and consistency between development and production environments, quick provisioning times, and a simple way to isolate services. In his session at DevOps Summit at 16th Cloud Expo, Shannon Williams, co-founder of Rancher Labs, will walk through these and other benefits of using Docker to run microservices, and provide an overview of RancherOS, a minimalist distribution of Linux designed...
Business as usual for IT is evolving into a “Make or Buy” decision on a service-by-service conversation with input from the LOBs. How does your organization move forward with cloud? In his general session at 16th Cloud Expo, Paul Maravei, Regional Sales Manager, Hybrid Cloud and Managed Services at Cisco, discusses how Cisco and its partners offer a market-leading portfolio and ecosystem of cloud infrastructure and application services that allow you to uniquely and securely combine cloud busi...
Businesses are looking to empower employees and departments to do more, go faster, and streamline their processes. For all workers – but mobile workers especially – utilizing the cloud to reconnect documents and improve processes without destructing existing workflows can have a dramatic impact on productivity. In his session at 16th Cloud Expo, Mark Grilli, vice president of Acrobat Solutions marketing at Adobe Systems Incorporated, will outline new ways that the cloud is changing the way peo...