Remembering Malibu, when it was affordable. Seriously.
June 24, 2008 | 10:34
am
Excellent post over at L.A. Now reminiscing about the days when Malibu's Paradise Cove was affordable -- a "risky investment" even, and how the media, the celebrities and the money people ruined all that.
Veronique de Turenne (one of the best names in blogging), starts off, "When we bought the trailer here in Paradise Cove 14 years ago, a series of bruising lawsuits between residents and the park's owners had turned it into a risky investment and home values had tanked. We had a tiny down payment and this was the only place we could afford. Anywhere.
"It was quiet here, a mix of families and retirees. There were no car alarms. There were very few golf carts. You knew everyone you saw on the beach."
Read the whole thing here.
Malibu has to be the most overrated and overpriced real estate in Southern California. Sure it's pretty and you have the beach close by. But year after year, there are brush fires and/or mud slides there. Why would anyone pay such big bucks to put up with that?
Posted by: RZ | June 24, 2008 at 10:53 AM
If you look carefully, you can see little tiny black and white locals in wool swimsuits punching and kicking a paparazzo as he tries to get some photos of George Freeth.
Check this out -- if you follow the link to hereinmalibu's photos on flickr, there's one shot of PCH which is captioned: Roosevelt Highway.
Drove past Topanga Beach yesterday
We used to surf there a lot as kids, and even showed up in the Market's oversized postcard. Their clam chowder rivalled Neptune's Net clam chowder at one point.
Posted by: Uncle Billy Runs On C8H10N4O2 | June 24, 2008 at 11:50 AM
All RE goes through cycles. We used to vacation in the sixties on Balboa and the owner for the house on broadwalk that we rented beged my Dad to buy the property for $40K, that same house is worth $5M. Welcome to CA, the same RE that is worth millions now in Malibu, will soon be worth billions.
Posted by: Steve | June 24, 2008 at 01:31 PM
Yeah, I remember way back during the Paleolithic period when stones, rocks and pebbles were the cutting edge, high tech tools of the day, everything was so cheap, in fact, free, whales, dolphins, dorados, Pacific ocean sun fish, etc., in, yes, Malibu.
Posted by: MyLessThanPrimeBeef | June 24, 2008 at 01:38 PM
Is the photo in the story the same place that "Jim Rockfod" used to live?
$200 per day - plus expenses!
Posted by: Mark Too | June 24, 2008 at 07:51 PM