A flurry of coastal sales caps off a cooling October in luxury real estate

Southern California’s red-hot real estate scene cooled a bit in October, with no extravagant spec mansions or Old Hollywood haunts to break through the $20-million mark. Moves were still made by many, however, including a billionaire’s ex-wife and a high-profile actress.



a house with bushes in front of a body of water: $17.5 million - Malibu Four of the five largest on-market deals in October came near the coast, including this Cape Cod that traded hands for $17.5 million on a bluff in Malibu's Point Dume.Records show the home was owned by Wendy Hughes, ex-wife of billionaire Public Storage founder B. Wayne Hughes. She paid $10.7 million for the property in 2012.The coastal compound spans an acre and includes a main house clad in wood shingles, guest cottage, swimming pool and multiple lawns dotted with fruit trees and flower-laden trellises. Scenic decks line the backside of the home, descending to a private sandy beach with gated access to the ocean below.Sandro Dazzan and Cooper Mount of the Agency held the listing. Ellen Francisco of Coldwell Banker Realty represented the buyer. (Simon Berlyn/Berlyn Photography)


© (Simon Berlyn/Berlyn Photography)
$17.5 million – Malibu Four of the five largest on-market deals in October came near the coast, including this Cape Cod that traded hands for $17.5 million on a bluff in Malibu’s Point Dume.Records show the home was owned by Wendy Hughes, ex-wife of billionaire Public Storage founder B. Wayne Hughes. She paid $10.7 million for the property in 2012.The coastal compound spans an acre and includes a main house clad in wood shingles, guest cottage, swimming pool and multiple lawns dotted with fruit trees and flower-laden trellises. Scenic decks line the backside of the home, descending to a private sandy beach with gated access

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Top Sales: Coastal flurry caps a cooling real estate October

Southern California’s red-hot real estate scene cooled a bit in October, with no extravagant spec mansions or Old Hollywood haunts to break through the $20-million mark. Moves were still made by many, however, including a billionaire’s ex-wife and a high-profile actress.

Here’s a closer look at the priciest deals that went down in L.A. and Orange counties last month.

$17.5 million — Malibu

Four of the five largest on-market deals in October came near the coast, including this Cape Cod that traded hands for $17.5 million on a bluff in Malibu’s Point Dume.

Records show the home was owned by Wendy Hughes, ex-wife of billionaire Public Storage founder B. Wayne Hughes. She paid $10.7 million for the property in 2012.

The coastal compound spans an acre and includes a main house clad in wood shingles, guest cottage, swimming pool and multiple lawns dotted with fruit trees and flower-laden

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Could We See A Flurry Of Foreclosures Going Into 2021?

While there is more demand for housing, there is also a higher risk of losing it, and many economic signs point to a rocky road ahead. Here’s why this housing boom won’t last.

It’s hard to judge an economy when it’s shut down. It’s also hard to judge an economy when it has recently reopened, since much of the activity may be short-term, pent-up demand that could not previously be fulfilled.

That’s what we’re seeing in the housing market right now. Not only will this housing boom not last, there may be a reckoning in about a year.

Real estate is up

When the economy first shut down, many were hoping for a V-shaped recovery, but as more time passed, it became clear that was not a likely outcome. One hallmark of this downturn, however, is that the economic effects are not uniform, with geographic and industry-specific micro-recessions and micro-recoveries

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