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31626 Sea Level Dr
Malibu, CA 90265
$10,995,000
Conventional
Property
Bedroom
4
Bathroom
5
Property Type
Conventional
Square ft
3501
Property Description
This majestic oceanfront architectural residence is a study in luxury and light. Located in a private, gated community, the home is carefully sited and designed to provide gorgeous ocean views from almost every room. Consisting of two dedicated beachfront lots comprising an impressive 60 feet of ocean property, this one-of-a-kind Malibu estate was custom crafted for the current and only owner approximately 25 years ago and is being offered for sale for the first time. Masterfully designed by the renowned architectural firm Barsocchini & Associates, the residence is the first lot on Malibu's private and gated Sea Level Drive, grandly situated between two building-restricted lots, which garners it unprecedented privacy and protected views of prominent adjoining rock formations and sparkling city lights. The home features an inspiring Wave Motif copper clad roof system, craftsman-built art glass windows, specially crafted iron hand railings, and custom tile marble bathrooms. High ceilings, huge picture windows, and beautiful finishes create the perfect setting for very comfortable living and memorable entertaining that flows from spacious interiors to beachfront decks and terraces. On the main floor, the light-filled living/dining room opens onto a wraparound deck with ample room for barbecues, dining, and relaxing. The kitchen, with a vaulted ceiling, has exceptionally fine custom cabinets, bar seating, a built-in breakfast nook, and quality appliances that will please the most demanding chef. Off the kitchen, a stairway leads to an outdoor shower and the sandy beach below. Also on the main level is a bedroom and a full bath, while the lower level has an enormous family/media/recreation room with a fireplace, a kitchenette, laundry room, and bath. On the upper floor, there are three en-suite bedrooms, including the exquisite ocean-view primary, complete with two walk-in closets, loads of built-ins, an oceanfront balcony, an ocean-view spa-style bathroom, and stairs leading up to a private aerie that could be an office, library, or meditation suite. There is a second laundry room on the upper floor and one of the bedrooms has a loft. This beautiful house sits on the west side of Point Lachuza with unobstructed views and is a favored spot for local surfers. Expanding the already impressive views, a sandy cove at the side of the house is terraced for sunrise-to-sunset lounging and entertaining. The home has a two-car garage plus room for four vehicles in the driveway. Striking design in a coveted private location adds up to the finest in Malibu living.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1998
MLS Number
23-337877
Location
Address
31626 Sea Level 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.