Malibu Makes Bid To Be World's Mega-Mansion Capital -- CNBC
Malibu has always been known for its hidden beaches and un-hidden wealth. The combination has now turned Malibu into one of the nation's capitals of hyper-priced real estate.
Malibu had the most $10 million listings in the 12 months ending in November, according to Coldwell Banker. With a huge boom in sales in the fourth quarter, fueled in part by the fiscal cliff, Malibu is in the running to have the highest sales total in the $10-million-plus category for all of 2012.
There were reportedly 11 sales of $10 million homes in Malibu last year, up from eight in 2011.
Read more .... My Comment: The money is definitely attracted to Malibu.
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