Last week provided a hodgepodge of national real estate news and conjecture, but if local readers had hoped it would provide a clean-cut picture of what to expect from the Jupiter real estate in the coming year, by week’s end, they would have had to admit such clarity would have to wait. The best The Washington Post could offer was Thursday’s “What it’s Like to Buy and Sell in Today’s Weird Housing Market”—and veteran Jupiter real estate trackers know that appraising market conditions as ‘weird’ is a polite way of acknowledging that things are in flux.
A ‘Weird’ U.S. Real Estate Week Includes Some Predictables
With the hard real estate news providing little enlightenment, those who happened across Thursday’s entry in The Malibu Times were surely relieved to find that some corners of the U.S. housing scene are carrying on as expected. With its roundup of “the latest Malibu high-dollar and celebrity real estate transactions,” the celebrity-studded Malibu coastline provided a flood of the familiar high-flying housing details:
- Leading the category was billionairess Kim Kardashian’s shopping expedition in the Encinal Bluffs neighborhood. She chose a 7,450 sq ft Mediterranean-style house perched high over the Pacific Ocean. Although the Times reporter acknowledged the “extremely private” house has stairs down to the secluded beach, readers might have detected a slight tone of disapproval: the steps are steep. Also, the place is relatively old “by Malibu standards.” Reported price: $70,000,000.
- Cher has put her “iconic mansion” on the market. Details from a recent interview in Architectural Digest reveal the pop icon’s motivation, somewhat surprising given that she famously built the Moorish/Moroccan/Venetian-style mansion from the ground up and poured decades of her creative vision into it. The Oscar-winner explained, “…now it’s time to pass this magic on to others.” Reported asking price: $85,000,000.
- Another Encinal Bluff-top estate has been purchased by former Gap CEO Glenn Murphy and his wife, Stacey. The 3-story, 10,500 sq. ft. vacation house has the expected Malibu must-haves (game and screening rooms, gym, wine cellar with tasting room, etc.) but is exceptional in that the local authorities okayed the inclusion of an elevator. If it connects down to the gated community’s 281 feet of ocean frontage, it can only leave the outside world wondering whether Kim will avoid her own home’s steep steps by begging a ride up from time to time…? Reported (discounted) price: $42,200,000.
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Our own Jupiter real estate activity succeeded in steering clear of the national press last week—but if you are seriously considering a purchase or sale here, call me at (561) 316-6800 for the local details!
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