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Malibu Realty Sued – Mansion Undersized?

Malibu Realty Sued – Mansion Undersized?

This story comes to us from Bloomberg. It seems that one of those grand mentions in Malibu isn’t so grand after all, At least in the square-foot size. Malibu real estate sales frequently reach tens of millions of dollars so it’s no surprise that the cost of the mistake could also run into the millions and no one wants to eat that. Hence the fight makes its way into the court system. Aug. 20 (Bloomberg) — Millionaire Hiroshi Horiike spent two years searching California for a dream home, one grander than any he could find in his native China. After visiting more than 80 properties in the Los Angeles area with an agent from Coldwell Banker, Horiike paid $12.25 million in cash for a four-bedroom, six-bath Tuscan-style mansion with a swimming pool, spa and guest house on 5.1 acres (2.1 hectares) overlooking the Pacific Ocean. There was just one catch. After settling in, Horiike found the Malibu home had less living space than he’d been told — a third less. It had 9,434 square feet (876 square meters) instead of the 15,000 square feet shown in marketing brochures from the seller’s agent, who also worked with Coldwell Banker. Horiike, who also goes by his native Chinese name Peng Hong Ling after adopting a Japanese name as an adult, claimed he was cheated and sued the agent and the brokerage. He won a state appeals court ruling that sellers’ agents have a fiduciary duty to protect buyers’ interests, not just those of their clients, when there’s only one brokerage involved in a deal. If left standing, the decision could compel...
Across The Bay In Malibu

Across The Bay In Malibu

Nicknamed “Billionaire’s Beach,” the Carbon Beach section of Malibu is home to Oracle CEO Larry Ellison, entertainment mogul David Geffen, former Dodgers CEO Jamie McCourt, and other business tycoons. Ellison loves Carbon Beach so much that he owns 10 properties there, including one he bought just this week. What makes Carbon Beach so great — and expensive? The AP’s Jeanne Cooper answered the question in 2006, shortly after Geffen lost a court battle against the construction of a public-access walkway near his home. She wrote: Read more: http://www.businessinsider.com/who-lives-on-malibus-billionaires-beach-2012-11?op=1#ixzz3Wn5a1DSq Many of the residents in Malibu live in houses including beachfront property; itis a great thing there’s lots of it. There are also a lot of parks in the region, including: Malibu Bluffs Park, Legacy Park, Malibu Creek State Park, Leo Carillo State Beach and Park, Point Mugu State Park, the Santa Monica Mountains National Recreation Area, and Robert H. Meyer Memorial State Beach. Fires still happen from time to time, although the city has strict fire control laws. In addition, there are worries sometimes of mudslides in awhile when it rains heavily. Still, powerful, famous, and the rich continue living in MALIBU Real ESTATE, and if you hit the shores searching for local celebrities, or needed to go sight seeing, you’re likely to discover many of these. And there’s plenty more! As you can imagine, housing in Malibu is pretty steep. The median price for homes in the place is $1.79 million. Yet, because of the current real-estate issues, there are a lot of homes available, which has really brought the average price per dwelling down around $600,000. That might not...
Living Large In Large Malibu Estates

Living Large In Large Malibu Estates

Imagine just living a mundane life in any of the not-a-few Podunk towns like Twin Falls and then suddenly the winds of change come and you are moving to California. Dream now you recently gained enough money to go anywhere and let your imagination run further. You can live anywhere you fancy in California. Think about among the very delightful areas in Southern California. Billionaires mile. That is right, a house, any real estate in Malibu California. Malibu real estate is among the priciest in the united states. It is where America’s famous and wealthy frequently decide to call home. It is no wonder that so many stars choose to call Malibu their home. It’s both beautiful and secluded- away from the Hollywood madness. Indeed it feels quite far away whenever you’re there instead of LA. That’s the life for owners of Malibu CA real-estate. Its history is owed by the present city of Malibu to a family. The Rindge Family possessed the land all that Malibu sits on getting it all. The state had other thoughts, mostly constructing the highway through the house, although the family needed to keep it all to themselves. After that claim was acquired by the state, the matriarch of the household, May Rindge, began selling off areas of the property for home. Malibu Colony was among the primary housing areas and houses were constructed by most of the early movie stars there along the shore. Finally, when the stock exchange crashed wanting additional money, she sold the remainder of it, also it immediately began to grow into what it is become now. A...