Buyers return to the Beach

By: Gracee Arthur

Malibu has seen its worst real estate market in history this past few years. The recent market downturn makes the early to mid 1990s look like a dream market. I know since I have been selling real estate in this popular beach town since 1991.

The silver lining in the current downturn is Malibu is now more affordable for buyers and unlike past difficult markets, the interest rates are at record lows!

The most noticeable improvement in recent months has been the sale of properties in the $2,000,000 to $5,000,000 price range, as well some condo sales over $1,000,000. This segment of the market has been slow to heat up  because it is a move up and second home market. The large institutional lenders have been very slow to get back into the normal routine of jumbo mortgages which has also held this market segment back. The Malibu market usually goes down a bit later and up a bit later than most Los Angeles area real estate markets. We were still strong through mid 2006 and just in the last few months have begun to pick up some steam. The lenders, although still difficult, are now more willing to participate in financing jumbo loans.

So if you have been waiting to buy Malibu, this may be your best chance to purchase a home for a great price while still getting the best interest rates ever!

There are some wonderful homes (standard sales) offered in Malibu on both the beach and landside of town. The center and east end of Malibu has some great new restaurants under construction, as well two recently remodeled shopping centers and the relative newcomer The Lumber Yard with Cafe Habana and great boutiques. The west end of Malibu has a new market under construction at Trancas where a new restaurant is also expected near the existing Starbucks. The air is fresh, outdoor activities abound and the local schools are good. So if you have been out there window shopping Malibu, this is a good time to actually purchase your vacation home or relocate full time to the ‘Bu.

www.graceearthur.com www.31240abailardroad.com

Gracee Arthur

A resident of Malibu since 1984, Gracee Arthur possesses extensive knowledge of the coastal real estate market. As a result, her extensive community connections have enabled her to represent some of Malibu’s finest properties.

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Sunrise/Sunset

By: Gracee Arthur

Nature is the world’s only true artist. Malibu in autumn and winter is natures perfect canvas. Courtesy of my high resolution iPhone camera and the fabulous vistas from my mid-century ocean view dwelling I present to you a bit of life’s beauty:

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Gracee Arthur

A resident of Malibu since 1984, Gracee Arthur possesses extensive knowledge of the coastal real estate market. As a result, her extensive community connections have enabled her to represent some of Malibu’s finest properties.

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La Costa Mission, an Exciting New Malibu Restaurant

By: Gracee Arthur

Malibu is a terrific city . We have the Pacific, great beaches, fresh air and recently, more user-friendly amenities like a hardware store.  What we are still missing in our little hamlet is a real deli, a fantastic Chinese and until this week, a real Mexican restaurant.

When I first moved to Malibu in the ’80s, we had the Baja Cantina which was located in the space currently occupied by Tony’s Taverna.  The Cantina was a fun restaurant with consistent quality, friendly staff and “Lobster Night” every Tuesday. The Cantina was replaced by the short-lived, celebrity owned Malibu Adobe which served the latest food craze, Tex-Mex.  Many years later,  Casa Escobar opened near the Malibu theatre, only to burn down soon after in a weekend fire started in the adjacent beauty supply shop. Lastly and deservedly so, there is the Corral Cantina at Zuma where the food bares little resemblance to food, let alone Mexican fare. The Cantina has been around forever, but is kept alive by Happy Hour Margaritas not its food, which is avoided by most locals.

So imagine my excitement when I passed by the La Costa Mission with its large blue “Now Open” banners flapping in the Santa Ana Winds! The Mission is located in the former home of Terra Restaurant, adjacent to the old Malibu courthouse and jail.

The charming Spanish mini-hacienda with patio and indoor dining is located in east Malibu at  21377 Pacific Coast Highway.  I stopped in to check out the menu  and was pleasantly surprised to find a great variety of appetizing items. There are tasty gems like Tostaditas de Ceviche made with lime marinated yellowtail , as well as classics like Carne Asada made with filet mignon and marinated in red chile. The restaurant has a great bar and is anticipating the arrival of their liquor license in the next week or two. The bar specialities will include 17 different types of Margaritas!!  Muchas gracias to the proprietors (who also own the Beech Street Cafe in Pacific Palisades) for bringing a true Mexican restaurant to Malibu.  I am looking forward to my first Margarita at La Costa Mission . Check out their website for a full menu and dining hours.

Gracee Arthur

A resident of Malibu since 1984, Gracee Arthur possesses extensive knowledge of the coastal real estate market. As a result, her extensive community connections have enabled her to represent some of Malibu’s finest properties.

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Wine, Dine , Shop Malibu!

By: Gracee Arthur

Happy Valentines Day 2012! There is no more beautiful and romantic spot for a Valentine’s Day rendezvous than the beach. Malibu has a variety of great venues to celebrate your love while enjoying fresh air and an ocean view. You might want to start your Valentines weekend shopping a the Malibu Country Mart which offers gourmet chocolates, boutique clothing and jewelry shops. Tony’s Taverna, Tra Di Noi and Nobu for great food! Diesel books has a book signing on Sunday 2/12 at 3PM with Jamie Rose author of “Shut up and Dance!”. The event also includes a free Tango lesson. www.malibucountrymart.com. The adjacent Lumber Yard also has terrific gourmet sweets (chocolate and cupcakes), designer shops and Cafe Habana.

Special Valentines dining with an ocean view is offered by the Sunset Restaurant on Zuma Beach . There is a 3 course dinner for $75.00 per person. www.thesunsetrestaurant.com Beau Rivage offers Pre-Valentine Brunch and Dinner Saturday/Sunday with a complimentary glass of Champagne and dessert. Valentines Day dinner begins at 5 PM and includes musical entertainment featuring pianist Tony Michaels. Reservations recommended 310-456-5733.

Geoffrey’s outdoor, ocean view dining is always romantic and they have a nice bar, as well www.goeffreysmalibu.com. Reservations recommended 310-457-1519 . The Sage Room has great food and wine, no view, 310-457-0711, Kristy’s great view, Pizza’s and gourmet dinners 310-457-2602 and the Malibu Beach Inn (incredible ocean side dining) 310.456.6444 (you can even book a romantic suite). All are also great choices for a romantic Valentine’s dinner. It is a busy dining day so do not forget to make your reservation.

But most importantly, do not forget your pet this Valentine’s Day! My cat Minnie really loves her heart which is filled with great cat nip! So dog bone or cat nip treat always remember the one who loves you no matter what you look like or what your mood!

Gracee Arthur

A resident of Malibu since 1984, Gracee Arthur possesses extensive knowledge of the coastal real estate market. As a result, her extensive community connections have enabled her to represent some of Malibu’s finest properties.

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How much is an ocean view worth?

By: Gracee Arthur

I have been selling real estate in Malibu since 1991 and the most asked question is “does it have a view?”   A view is not only a treat for the eyes but some money in the pocket. Depending on the width and breathe of your vista a view can add $50,000, $100,000 or more to the value of your home.  Now, imagine the view you paid for disappearing bit by bit until you have to get on the roof to see the ocean over your neighbors trees!

The Malibu City Council and the committee appointed to explore the view preservation and restoration issue finally brought a view proposal to a vote this week. The View Preservation Ordinance was approved Monday in a 3 to 2 vote by the Malibu City Council with council member John Sibert as the swing vote. The new ordinance, effective immediately, allows owners to request a review and determination of their primary view. Photographs will document, for perpetuity, the right to that view. Should a neighbor’s foliage block a designated view and the neighbor refuses to trim their foliage, the city would enforce the ordinance. The fee for the planning staff to assess and determine primary view is $260.

Although an advisory measure asking about view restoration was approved by 60% of Malibu voters, no decision was made on view restoration at the Monday meeting. A proposal by John Sibert  to allow a one time. 6 month period to file view restoration claims with the city is being considered. Council staff is preparing a program to notify homeowners of the one time window for view restoration, as well as looking into the possibility of law suits as a result of such action.

Gracee Arthur

A resident of Malibu since 1984, Gracee Arthur possesses extensive knowledge of the coastal real estate market. As a result, her extensive community connections have enabled her to represent some of Malibu’s finest properties.

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