Welcome to Malibu, CA: one of the most coveted and envied destinations in the United States. Stretching for over 30 miles of pristine beach and adjacent to the LA hotspots, Malibu is a vacation spot for celebrities, athletes, California residents, and tourists. There’s something for everyone amidst the warm sand and sunny skies of Malibu.
In addition to the white sand beaches, you can head to the Getty Villa museum to see Greek and Roman antiquities, watch the sunsets on Malibu Pier, visit the Adamson House and Malibu Lagoon Museum to tour the home of Malibu’s founder. This can be complete a wine tour and tasting, or go hiking in the state parks nearby. Malibu is a rich, vibrant city with innumerable sites to see and a laid-back, beachy vibe to help you unwind.
If you, like countless others, have fallen in love with Malibu, you may be thinking of investing in Malibu houses for sale. While navigating any real estate market can be tricky, there are specific challenges and rewards to purchasing a vacation – or permanent – home in Malibu, CA. This step-by-step guide will provide further information on the home buying process to make your search for Malibu houses for sale as easy as possible.
The Malibu Real Estate Market
The average current price for Malibu houses for sale is nearing 2.1 million dollars. This, for most people, is a hefty – or possibly impossible – price tag (though it would be, inarguably, worth the investment). A one bedroom home sells for an average of 2.1 million dollars, while a four or more bedroom home could come with a price tag north of 2.7 million.
These are tricky waters to navigate. When considering properties in any beach or resort area, prices may seem inflated. This is because, in vacation areas, you are paying not only for the cost of the structure and the land, but for the view, convenience, and rent-back potential of the property. This means that you could take the same exact house in Pittsburgh, PA, Waco, TX or Malibu, CA and each would cost vastly different sums – but it would cost the most in Malibu, where you are on a beach, have access to a multitude of tourists sites, and could potentially rent the house to vacationers for a steep profit.
Waterfront properties, in particular, tend to be the costliest, for many reasons. Besides being generally desirable, beachfront properties are scarce (there is only so much coastal land available for development in the US), and building costs can be high. It’s not easy to accommodate the shifting, porous nature of sand and the coastline, and to build a safe, secure structure, additional costs are frequently incurred.
With this price tag in mind, you can, of course, always rest assured that you can bargain-hunt. Finding old, unkempt properties or fixer-uppers is one way to save on up-front costs – though you will, of course, need to renovate these properties.
But whether you choose to purchase a move-in ready Malibu home or settle in for the long haul, searching for the diamond in the rough, procuring the services of a real estate agent is a must. A licensed real estate professional can guide you through the home buying process, which is essential in a market as competitive as Malibu.
The Home Buying Process
When you are looking into Malibu houses for sale, a real estate agent act on your behalf. They are versed in all the real estate laws of your state, and they have the skill and expertise needed to negotiate on your behalf so that you get the best possible deal. Skill in negotiation is important because they are working not only to get you a home at a price you can afford, but also to ensure that the conditions are in your favor, from closing date to home inclusions and condition.
Step 1: Know What You Want
When you hire a real estate agent, the first thing they will do is sit with you to discuss what you want. In a community such as Malibu, they will want to know if you want a beachfront property, or property that is simply near the beach – and, if so, how near. You’ll also need to be prepared to tell your agent what you’re looking for the Malibu houses for sale: how many bedrooms, bathrooms, and garages, any layout specifications and whether you want a move-in ready home or a fixer upper. You will also want to share your budget range with your agent.
Step 2: Narrow Down Your Options
Armed with this information, your real estate agent will use a multi-list server to begin whittling down your options. Generally, your agent will take you to see the properties she or he has culled from those on the market. Your agent will be able to tour the properties with you, talk you through the pros and cons of each, and help you evaluate how well the homes meet your wish list.
Step 4: Put In An Offer
Once you have chosen a home you may be interested in purchasing, your agent will help you write an offer to submit to the sellers of the home. Throughout this process, your real estate agent is your point person handling the negotiations, hopefully getting you the home you desire for the best possible price.
If you offer is accepted, your agent will play a crucial role in managing the documents, the inspection and repairs (if any are needed), and the organization of the closing – after which, the home will be yours!
Step 5: Trust Your Real Estate Agent
Because the housing market in Malibu is so very competitive, a real estate agent can really tip the balance in your favor. She or he is a trained professional, knowledgeable and competent and experienced in buying and selling Malibu houses, and plugged into making your dreams come true!
Investing in Malibu houses for sale is making an investment in your dreams – in everyone’s dreams, really. Malibu is the epitome of California: sunny, golden, full of stars and athletes, and home to innumerable shops, museums, and attractions. As you consider your home purchase in Malibu City, be sure to tap into the considerable knowledge and resources of your local real estate agents. They are the conduit to helping you achieve all you desire!