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28808 Cliffside Dr
Malibu, CA 90265
$48,500,000
Conventional
Property
Bedroom
6
Bathroom
9
Property Type
Conventional
Square ft
11154
Property Description
Palatial in design and of a scale that cannot be replicated today, this ultra-private cul-de-sac estate commands gorgeous ocean, whitewater, and coastline views from its prestigious, geologically secure Point Dume bluff. Over an acre of parklike grounds for sumptuous living, including a private path to beach and multiple surf breaks! This grand oceanfront residence invites sumptuous entertaining and a lifestyle of harmonious luxury. Constructed on three levels to optimize the amazing views, the updated home has an elevator, dramatically high ceilings, soffit lighting, enormous curved windows, multiple fireplaces, and beautiful hardwood and limestone parquet floors. The property's front gate leads to a circular drive, where lush landscaping and a resort-style porte-cochre welcome visitors. Breathtaking views and bold sightlines begin at the front door, which opens to reveal a grand circular foyer with double-height ceilings, exquisite sweeping staircase, and a pair of tall columns flanking the entry arch to the living room and the views beyond. The living room has a huge fireplace, a serene piano alcove, and majestic floor-to-ceiling windows facing onto the ocean. French doors open to one of the home's view balconies for entertaining, al fresco dining, and relaxing under the stars. Two steps up from the living room is a beautiful ocean-view dining area. The chef's kitchen features a well-equipped butler's pantry plus a walk-in storage pantry, granite countertops, a large island, and top-quality appliances, including a restaurant-style Wolf range with a griddle top, and new Sub-Zero refrigerator, freezer, and wine cooler. An adjacent casual dining area steps down to a spacious ocean-view family room with a fireplace. This also opens onto the view balcony. Completing the main floor are an en-suite, ocean-view guest bedroom, an ocean-view office, and two powder rooms. On the upper floor, accessible by elevator or the central staircase, is the stunning owner's suite, with gorgeous views, fireplace, lavish marble spa-style bath, generous custom closets, and a large private balcony complete with fireplace and ocean-view seating. Also on the upper floor is another en-suite bedroom and an office/bonus/yoga room with a mirrored wall and an entertainment beverage station. On the estate's lower floor, in addition to three more ocean view en-suite bedrooms, is a mirrored gym, a powder room, laundry room, and a huge billiards/recreation room with a fireplace, wet bar, ocean views, and French doors opening to a large lawn that wraps around to the front of the house. The backyard entertaining area includes a covered patio, a view pavilion with an outdoor shower, and lighted steps all the way to the beach. The home has a two-car garage and a three-car garage, and has approved plans for updated outdoor hot tub/spa area. This spectacular estate is in every way equal to its magnificent setting: an inspired achievement for a Malibu lifestyle of tranquil luxury.
Property Information
Lot Size
1 acre(s) square ft
Property Type
Residential
Year Built
1993
MLS Number
24-376571
Location
Address
28808 Cliffside Dr
City
Malibu
State
CA
Zip Code
90265
County
LOS ANGELES (SANTA CLARITA)
Listing
Provider
Name
Compass
Phone
Office Name
Compass
Office Phone
(310) 230-5744
Agent Name
Christopher Cortazzo

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.