The coast road has changed considerably. Which stretches have recovered their value, which have not, and why the difference is not obvious.
The Malibu coast has spent several years rebuilding, and the result is a market that is far less uniform than it looks from the highway.
Where value has returned
The stretches with genuine beach frontage and a private stair have recovered fully and then some. Buyers who want the ocean want it immediately, and there is no substitute for a house that sits on the sand.
Where it has not
Houses on the inland side of the road, and houses where the rebuild was done quickly rather than well, have lagged. A new house is not automatically a good one, and the specification gap between the careful rebuilds and the fast ones is now obvious in the pricing.
The practical advice is unromantic: read the geotechnical file before you read the brochure.
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