We sat down with Ellen Francisco, Global Luxury Department, to discuss the changes occurring in the Malibu real estate landscape and what we can expect to witness in the next few years.
What’s the hottest trend in Malibu real estate right now?
Ellen Francisco: Buyers seem to be looking for homes that are either new or newly remodeled with high ceilings, walls of glass that completely open to the outdoors, open floor plans, upscale amenities and appliances, ocean views, pools and landscaped grounds.
What does your typical Malibu buyer profile look like? Age, career, current residence etc.
Ellen Francisco: There is no such thing as a typical Malibu Buyer. We have Buyers who want second or third homes on the beach or bluff, second homes on Point Dume or other landside areas, full time residences in areas close to the beach or with land and ocean views, full time canyon homes, condominiums or townhomes and there are even some Buyers who want to buy land and overcome the challenges of building within the City of Malibu. Every Buyer comes with their own set of requests, dreams and desires to purchase what they are looking for.
Do you have any favorite restaurants in Malibu that you’d recommend?
Ellen Francisco: I like quite a few restaurants, depending on how hungry we are, the weather (to be able to sit outside) and whether or not we have made a last minute decision to grab a bite to eat or we have planned ahead. The list includes: Kristy’s, the Farm, Malibu Beach Inn, V’s, Taverna Tony’s, Spruzzo’s, Geoffrey’s, Sunset, Ollo, Zuma Sushi, Bui Sushi, D’Mores Pizza, Gravina, Lily’s, Tra Di Noi and for a great setting, expensive but good food and “a scene” – Nobu.
What changes should we expect to see in the Malibu real estate market in 2019?
Ellen Francisco: Your guess is as good as mine. I think we may be seeing more Buyers looking for second or third homes, but hopefully more families who want to enroll their kids in our excellent schools and raise them in a wonderful environment where they can enjoy nature, the outdoors, good schools and more and more family oriented activities. I think we will also be seeing more people who are getting tired of the increased traffic in the City and the heat in the valley. I think with the increase of technology companies in Santa Monica and Venice, we will see more young people moving out to Malibu. I think our prices will remain strong as we have great value when you compare our homes to homes in the Pacific Palisades, Brentwood, Santa Monica, and Beverly Hills.
What do you think sets apart luxury homes in Malibu from those in other parts of California?
Ellen Francisco: Malibu is a unique community. It is 26 miles long and 5 miles deep. It offers something for everyone. No two homes are alike in the luxury market and Buyers have the option of enjoying a beach lifestyle or a wonderful landside experience with lots of land that offers privacy, room for horses, vegetable gardens, tennis courts, Fruit orchards, vineyards and easy access to stores, restaurants, schools, beaches, national parkland & hiking trails etc. It is close to the City, but offers more of a rural atmosphere.
What is your proudest career moment?
Ellen Francisco: After 39 years of selling real estate in Malibu I have to say that I am proud every time I sell a home for a client or find the perfect home for a client to purchase or even lease. I am proud to be in this business and to serve my clients and friends. Having been a teacher and counselor prior to my career as a Realtor I approach the business as a service business, rather than a sales business.