Everyone knows that houses on the beach generally sell very well due to their very desirable location.

Well, investors.com has reported that the national housing market has not effected LA’s beach cities in the same way as other communities nationwide.

As they put it - prices in the 30-mile stretch down Pacific Coast Highway from Malibu to Manhattan Beach continued to rise after spring 2006, according to data from the California Association of Realtors. They’ve since faded, but generally only to 2005 or 2006 levels,

More excitingly however, in Pacific Palisades, the median price has actually been rising over the past couple years. (up 9.3% to $2.04 million.) The reason is of course very simple, there is a lack of buildable land with parklands and coastal commission restrictions etc. Also, people tend to hold onto Westside homes longer.

“It’s a very desirable area,” said Jack Kyser, chief economist at the Los Angeles County Economic Development Corp. “You have access to the water and the air is fresher than it is in other areas of L.A. county. And you have a lot of very attractive amenities (such as good restaurants and schools). If you’re looking for something like that, the Westside would be No. 1.”

In Malibu,the median home price has fallen just 1.5% from April 2006 to $1.675 million in April 2009.

This is very exciting news as we reported toward the end of last year that beach front real estate is outperforming other real estate markets as everyone clamours for their perfect beach front pool home!

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

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Malibu Times has published an article discussing the state of the local Real Estate Market.

The results are mixed as at present Malibu is on track for likely less than 100 sales this year and inventory is standing at around 270 homes.

Values are around 2004 levels with the median price now at around $2.25 Million. At present 10 homes have sold in the $4 million plus range. However in that same price range there are around 100 homes listed for sale.

In the condominium sector through to the month of May there were 14 condo sales. Although as mentioned at the end of last year, Condos could represent a great future investment - read out blog post here.

Naturally with a fall in the median price and some difficulties in obtaining financing, the lower end of the Malibu market is getting the most buyer attention as buyers are looking to get a great deal on their dream home. However there is of course interest from prospective buyers all over the nation and internationally - particularly buyers from overseas who are looking for a Malibu trophy property.

These statistics shall be watched with interest as the busy summer season progresses.

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

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The National Association of Realtors have released more exciting news from their national real estate statistics department - the results for May 2009 are in!

Sales of existing homes showed another gain in May, benefiting from favorable affordability conditions (including low rates!) and a first-time buyer tax credit. The increase was the first back-to-back monthly gain since September 2005. Existing-home sales – including single-family, townhomes, condominiums etc. – rose 2.4% to a seasonally adjusted annual rate of 4.77 million units last month. Single-family home sales alone (which make up a large bulk of sales) rose 1.9% to a seasonally adjusted annual rate of 4.25 million in May from a pace of 4.17 million in April.

Total housing inventory at the end of May fell 3.5% to 3.80 million existing homes available for sale, which represents a 9.6-month supply at the current sales pace, down from a 10.1-month supply in April.

Here in the western side of the country, existing-home sales are 11.8 percent higher than May 2008 - definitely exciting news!

That said, there is a small issue addressed by Lawrence Yun “However, the increase in sales is less than expected because poor appraisals are stalling transactions. Pending home sales indicated much stronger activity, but some contracts are falling through from faulty valuations that keep buyers from getting a loan.”

According to Freddie Mac (FHLMC), the national average rate for a 30-year, conventional, fixed-rate mortgage edged up to 4.86% in May from a record low 4.81% in April. However compared to last year these rates are around 2% lower!

So there you have it, more news that the market is definitely on the turn around here in Southern California.

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

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World famous celebrity Barry Manilow is rumored to have listed his Malibu beach from home.

The four-bedroom, 3.5 bath, 3,456 square foot home is a blocky tastefully decorated contemporary with a matching one-bedroom guest house on the oceanfront with stunning beach views and of course access to the sand!

The home has a two story living room with big glass windows to exploit the view. The home has already had a price cut from $12.6 million to $10.9 million but Manilow paid $3.85 million in 2002. However the location could not get any better on Malibu Road right on the Pacific Ocean!

The home and the guest house are separated by a flagstone courtyard. The main house includes a media room, at least one office (another bedroom seems to be serving as an office as well) and a master suite with a fireplace and a bathroom that includes a spa tub set right against the window for a soak with a sunset view.

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

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Glamor is everywhere in LA and Malibu, however Local pageant winner Tami Farrell has now taken over as Miss California USA!

This exciting new position for Tami is of course shrouded in controversy for the titles original holder was fired amid allegedly breaching contractual obligations.

Controversy aside, Miss Farrell, who is the reigning Miss Malibu, suddenly found herself in the national spotlight and is a great promoting tool for Malibu.

In addition to crowning the new Miss Malibu in August, Farrell will host the Miss California pageant in November. The 24-year-old beauty queen says being Miss California is “a huge honor” and she hopes to serve as a role model for young women.

“This is an incredible opportunity to work hand in hand with the Miss Universe Organization,” she said. “I will be working with the current Miss USA and Miss Universe to champion charities aligned with the program, as well as shedding light on programs I’m passionate about.”

This summer, Farrell will be busy with numerous local events including the Women in Film charity golf tournament, the Malibu Arts Festival and the annual Chili Cook-Off.

It all happens in Malibu!

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

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On to an awkward subject that could help homeowners in Malibu save money and do their bit for the environment.

No body likes to waste money or water, however leaking toilets result in six billion gallons of water loss every day.That astonishing figure is a real problem with financial and physical effects. Here’s how the water gets washed away: With more than one billion toilets in the U.S. and, according to the American Water Works Association, one out of five leaks. The toilets can lose anywhere from 30 to 500 gallons of water daily just from a small silent leak that is the size of a staple.

Also, handyman jobs are increasing for practical repairs like leaking toilets. These days, in a tough economy, homeowners are trying to preserve their homes and to conserve wherever they can.

With many luxurious properties in Malibu with several toilets the problem is exacerbated. Asides from a general maintenance issue it is good practice for sellers to repair their toilets! Also, the new Green Building Ordinance may come into place in the future!

Here are a few tips to help prevent water loss and leaks.

1. Check toilet for cracks. Even a tiny crack in a toilet can cause significant water damage that may not be visible unless inspected thoroughly.

2. Make sure the base of the toilet is sealed using special waterproof caulking.

3. Replace flappers every two to three years or as needed.

4. Install appropriate device to detect leaks and manage possible toilet overflows.

5. Check for toilet sweat. Not a pleasant concept, it can cause water damage. In regions where the water coming into the toilet is colder than the humidity in the room, the toilet can produce condensation and leave a puddle of water behind the toilet.

Toilet insulation kits are available. They provide rigid pieces of foam that fit inside the tank and prevent the cold water from touching the tank walls. Or you can buy a new toilet with an insulated tank.

While you are there checking the toilet, inspect other pipes in the bathroom to make sure everything is in good order - make it a habit every few months to check your homes plumbing, that way you should be able to catch any problems early and not have to worry about an expensive (unexpected) repair bill.

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

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The National Association of Realtors is asking lawmakers to help improve energy efficiency in homes by offering incentives to homeowners.

We have already spoken how going green not only helps conserve resources and save the planet, but also how it can aid you in the sale of your home!

However in the long term there is a natural trend towards conservation, recycling and renewable resources. Enticing homeowners to improve their energy efficiency is no easy task!

NAR has expressed support for the approach and overarching goals behind the Green Resources for Energy Efficient Neighborhoods (GREEN) Act, H.R. 2336. The National Association of Realtors believes that improving the energy efficiency of the nation’s homes and buildings can be best accomplished with incentives and education. (CAR - The California Association of Realtors already has its own informative “Green” website)

H.R. 2336 would establish incentives to encourage energy efficient building, rehabilitation and upgrades. In addition, the bill provides a loan fund for states to implement renewable energy projects and would encourage a number of U.S. Department of Housing and Urban Development (HUD) demonstration and pilot programs that would provide best practices and great experiences for promoting energy efficiency in housing.

Developers have started to building green homes (See our blog post on Pacific Palisades) and Americans as a whole are learning ways to decrease energy usage whilst not compromising lifestyle. Like Cindy Crawford did in her home!

Watch this space for more information on this bill. Click here to read more about the local Malibu Green Building ordinance being enacted by the Malibu City Council!

Turn your energy efficient efforts into not just an environment saving project but a selling feature!

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

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Malibu City Council has decided to work on new Green Building Ordinances in order to get developers & homeowners to build environmentally friendly.

The city has faced pressure of impending deadlines for compliance with state regulations on sustainable development. In order to try and comply with these regulations the City Council and Planning Commission held a joint meeting at City Hall last week where staff was directed to continue drafting a citywide sustainable development ordinance.

The ordinance would consist of mandatory standards for approval of new construction and major remodel projects. It would also require larger projects to be certified by Leadership in Energy and Environmental Design, or LEED, a green building rating system that verifies the sustainable qualities of different building types.

For instance - Non-residential Malibu construction by August 1st must comply with standards addressing water use for landscape irrigation, weather-proofing, collection areas for recyclables, formaldehyde content in wood products, air conditioning refrigerants, and minimum outside air ventilation.

On the more important, residential arena, residential construction requirements in January 2011 will call for sediment and runoff protection from construction sites; diversion of at least 50% of construction waste; low or no use of volatile organic compounds such as indoor adhesives, paints and coatings and maintenance and operation manuals for homeowners. Also, starting July 1, 2011 will be required to meet a water efficiency standard that calls for a 20% reduction in indoor water use.

These are tough rules, however in the long run the city will have greener homes which could also hold better value and be more sought after by buyers.

Watch this space for more as it develops!

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

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National Association of Realtors has released exciting information on a rise in pending home sales

The data is in and the news is great! A combination of record low mortgage interest rates, high affordability levels and the first-time buyer tax credit boosted sales for the third consecutive month! The Pending Home Sales Index nationally rose 6.7% to 90.3 from a reading of 84.6 in March, and is 3.2% above April 2008 when it was 87.5.

For the West Coast, the news is just as exciting, here in the the index rose 1.8 percent to 94. This news comes shortly after news that here in California for instance home sales are rising much faster than expected; some areas in the state are seeing a 70-80% increase in sales and price increases are expected shortly.

Video Courtesy of the National Association of Realtors

Lawrence Yun - NAR Chief Economist had this to say: “Housing affordability conditions have been at historic highs, but now the $8,000 first-time buyer tax credit is beginning to impact the market…[as] buyers must finalize their purchase by November 30th” - Now is the time to buy!

With new rulings allowing First Time Homebuyers to utilize the tax credit as a downpayment before receiving their check from the IRS it is expected that the upward trend of further purchases will continue. In 2008, 41% of all home purchases were made by first time homebuyers. In the first quarter of 2009, that number was 53% (according to NAR) they are an important part of the market.

The National Association of Realtors has stated that in the coming months it expects the beginnings of a market turnaround with particular focus on the forth quarter of this year as it is expected buyers start to really take advantage of the great deals to be had!

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

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Malibu City Council has submitted a bid to purchase the 40,000 square foot Malibu Performing Arts Center located on Stuart Ranch Road. However! Not to keep it as a performing arts center but as part of its quest for a permanent city hall.

The council submitted a $15 million bid for the building which will be auctioned June 15 as part of bankruptcy proceedings by property owner Vineyard Christian Fellowship of Malibu. The property is valued at $27.6 million, according to a January 2008 appraisal, so if successful, the city is getting a bargain!

The building, according to a Malibu Times interview in 2001, was purchased by Vineyard Christian Fellowship of Malibu 10 years ago for $7.25 million and is now a fiber optic office unit with recording and sound systems, a 500 seat theater and dance studios. Included with the sale of the property are the fellowship’s assets, which includes all the high-tech recording equipment.

All exciting stuff for Malibu. We will all keep a close eye on this sale.

Being the leading Real Estate company in Malibu, rest assured that we will keep you informed through our blog. Subscribe to our blog using our RSS feed. (Click here!)

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.