Click here to close now.

SYS-CON MEDIA Authors: Liz McMillan, Kevin Jackson, Peter Silva, Greg Wind, Glenn Rossman

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
SYS-CON Events announced today that SafeLogic has been named “Bag Sponsor” of SYS-CON's 16th International Cloud Expo® New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. SafeLogic provides security products for applications in mobile and server/appliance environments. SafeLogic’s flagship product CryptoComply is a FIPS 140-2 validated cryptographic engine designed to secure data on servers, workstations, appliances, mobile devices, and in the Cloud....
SYS-CON Events announced today that FierceDevOps will exhibit at 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. FierceDevOps keeps software developers and IT operations personnel updated on the latest news and trends around the rapidly evolving role of the traditional IT worker.
SYS-CON Events announced today that StorPool Storage will exhibit at 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. StorPool is distributed storage software that allows service providers, enterprises and other cloud builders to run data storage on standard x86 servers, instead of using expensive and inefficient storage arrays (SAN).
SYS-CON Events announced today that QTS Realty Trust, one of the nation’s largest and fastest-growing providers of data center facilities and cloud services and a leader in security and compliance, will exhibit at 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. QTS Realty Trust, Inc. (NYSE: QTS) is a leading national provider of data center solutions and fully managed services, and a leader in security and compliance...
SYS-CON Events announced today that Soha will exhibit at SYS-CON's DevOps Summit New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Soha delivers enterprise-grade application security, on any device, as agile as the cloud. This turnkey, cloud-based service enables customers to solve secure application access and delivery challenges that traditional or virtualized network solutions cannot solve because they are too expensive, inflexible and operational...
SYS-CON Events announced today that IndependenceIT, a leading software provider of simplified IT management solutions for workspaces, applications and desktops-as-a-service, will exhibit at 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. IndependenceIT's Cloud Workspace® Suite combines application, end-user and infrastructure management into a seamless, easy-to-manage platform, with a unified management interface an...
SYS-CON Events announced today that that Innodisk, the service-driven provider of industrial embedded flash and DRAM storage products and technologies, will exhibit at 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. Innodisk is a service-driven provider of industrial embedded flash and DRAM storage products and technologies. With satisfied customers across the embedded, aerospace and defense, cloud storage markets an...
Chef and Canonical announced a partnership to integrate and distribute Chef with Ubuntu. Canonical is integrating the Chef automation platform with Canonical's Machine-As-A-Service (MAAS), enabling users to automate the provisioning, configuration and deployment of bare metal compute resources in the data center. Canonical is packaging Chef 12 server in upcoming distributions of its Ubuntu open source operating system and will provide commercial support for Chef within its user base.
SYS-CON Events announced today that WSM International (WSM), the world’s leading cloud and server migration services provider, will exhibit at 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. WSM is a solutions integrator with a core focus on cloud and server migration, transformation and DevOps services.
SYS-CON Events announced today that Site24x7, the cloud infrastructure monitoring service, will exhibit at 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. Site24x7 is a cloud infrastructure monitoring service that helps monitor the uptime and performance of websites, online applications, servers, mobile websites and custom APIs. The monitoring is done from 50+ locations across the world and from various wireless carr...
SYS-CON Events announced today that Intelligent Systems Services will exhibit at 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. Established in 1994, Intelligent Systems Services Inc. is located near Washington, DC, with representatives and partners nationwide. ISS’s well-established track record is based on the continuous pursuit of excellence in designing, implementing and supporting nationwide clients’ mission-cri...
The IoT Bootcamp is coming to Cloud Expo | @ThingsExpo on June 9-10 at the Javits Center in New York. Instructor. Registration is now available at http://iotbootcamp.sys-con.com/ Instructor Janakiram MSV previously taught the famously successful Multi-Cloud Bootcamp at Cloud Expo | @ThingsExpo in November in Santa Clara. Now he is expanding the focus to Janakiram is the founder and CTO of Get Cloud Ready Consulting, a niche Cloud Migration and Cloud Operations firm that recently got acquir...
SYS-CON Events announced today that B2Cloud, a provider of enterprise resource planning software, will exhibit at 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. B2cloud develops the software you need. They have the ideal tools to help you work with your clients. B2Cloud’s main solutions include AGIS – ERP, CLOHC, AGIS – Invoice, and IZUM
PubNub on Wednesday released an open source template to allow developers to add Skype-like video chat into their apps. The free template provides a fully functional video chat platform using WebRTC, PubNub and Google Authentication for a global, reliable collaboration solution. “While the WebRTC protocol has created huge excitement as a way to deliver video chat ubiquitously, there’s still a gap between the protocol itself and the ability to deploy a working, globally scaled, collaboration appl...
SYS-CON Events announced today that Tufin, the market-leading provider of Security Policy Orchestration Solutions, will exhibit at 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. As the market leader of Security Policy Orchestration, Tufin automates and accelerates network configuration changes while maintaining security and compliance. Tufin's award-winning Orchestration Suite™ gives IT organizations the power and a...