Why do celebrities keep moving out of Malibu? (Carson, Beverly Hills: real estate, condo)

[allenk893]

So I noticed over the years how a large proportion of celebrities have moved to Malibu and purchased really nice homes and then abruptly moved out after a few years to live in another area of LA. Why? Is there something wrong with it?

[JohnG72]

Takes a long time to get anywhere else in LA

[pbergen]

there is no exodus out of malibu - it's as exclusive an address as it's ever been. the simple answer to your question is that celebrities move around the LA area all the time. they'll "trade in" their house every few years for various reasons: a different property they've had their eye on for a while has finally become available; they decide they want to live closer to the studios, their ex/kids, the clubs/nightlife/shopping, or whatever; they had no intention of staying in that property long term and have decided to "flip it" for a profit; boredom; or just because they can. frequently, the buyer will be another celebrity - they often have the same real estate agents, so the properties tend to stay in the hands of people in the industry.

also keep in mind that many celebrities and the uber wealthy have a primary home on the westside or the hollywood hills (or nyc, or london, or wherever) and a summer home in malibu. these people can afford to have multiple estates within close proximity of each other. down in orange county, kobe bryant owns three multimillion dollar homes in newport beach alone. why? beats me, it's not my money.

[Senno]

Originally Posted by pbergen

also keep in mind that many celebrities and the uber wealthy have a primary home on the westside or the hollywood hills (or nyc, or london, or wherever) and a summer home in malibu. these people can afford to have multiple estates within close proximity of each other. down in orange county, kobe bryant owns three multimillion dollar homes in newport beach alone. why? beats me, it's not my money.

Or a home in Sun Valley, ID; Park City, UT, etc.

They frequently maintain multiple homes. There's no general exodus from Malibu.

[bigdumbgod]

The threat of mudslides, fires, wave damage can get a bit old.

[HarryKerryJr]

The late Johnny Carson had his Malibu home for Friday-Mondays, but stayed at his Wilshire condo near Westwood/Beverly Hills highrise Tues-Thurs because it was closer to the studio. I think David Letterman let his long time girlfriend keep the Malibu home in their separation. So, Dave was a Malibu resident, and then not. Those Malibu homes really do change hands a lot. I think part of it is that it is so beautiful and appealing to live on the beach, but some celebrates come not to like the disadvantages to living in Malibu and so they sell. However, there are still some longtime celebrity Malibu residents who prefer its difficult to access location and small town feel and "boring" pace of life there. These tend to be the adult celebrities who want to relax. But many do have alternate housing closer to the studios when they are working.

[jm1982]

Those poor celebs...it must be an epidemic.. !

[Brookside]

Interesting thread ...

I can't help but think that beach erosion is, well, eroding property values. What good is beachfront property if there is no sand?

Malibu Beach Erosion: Broad Beach in National Spotlight