Nationally there is concern about the housing downturn, however in the luxury real estate market and for properties on the beach, prices are steady, if not rising in popular areas.
Areas such as Carbon Beach near Malibu are dubbed "Billionaires Beach" due to its high end homes with matching high end price tags.
However, where prices are not rising they are holding steady compared to inland areas. The ocean front in the west side area is not the only section of coast benefiting from this phenomenon, other sections of the southern Californian coast are seeing similar trends. Long Beach and Huntingdon Beach to name just a couple are seeing reductions but not at the level inland.
With sellers seeking out that elusive buyer pricing is key as well as good marketing. There are some beach front homes out there which are bargains compared to their pricing 2 or 3 years ago.
People who own beachfront Real Estate generally do not feel the need to offload their asset as often as other owners of properties inland so turnover is usually low and as demand has always generally outstripped supply – with limited coastal areas which can be developed - prices have always generally commanded a premium.
If you are considering purchasing a property on the beach in Malibu or the Westside area in general please contact Judy Kunisaki for professional real estate advice on 310-317-8396.
Related Links
LA Times: Southern California beach house prices staying afloat
Coastal bargains are to be had amid the housing downturn, but the properties are holding their value better than homes inland.
Beach House reduced $3million to $10.995 million now available to renters!
Nancy Daly, wife of ex-Los Angeles Mayor sells beach front home
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