Photo Credit: Austin Neill
Jeff Chertow has been a Top Producing Realtor in the Malibu area since 1987 and has continually been one of the top 10 agents in Malibu for sales. Chertow is currently Managing Partner of Pinnacle Estate Properties Malibu Colony office. Since starting his Real Estate career, Jeff has found that it is the passion he has for real estate that has helped contribute to his success. Haute Residence caught up with Chertow to discuss Malibu's real estate and predictions for 2020.
How was the luxury market in 2019 compared to 2018? Is it up or down?
The market overall was up. We suffered at the end of 2018 with a devastating fire that destroyed several homes. 2019 subsequently started off slow but finished with the strongest fall/early winter in years.
What are your projections for the value of properties and market conditions in Malibu in 2020?
I see another increase in overall values between 6% to 8% which is a very healthy increase year over year. Our inventories at present are low as well.
Photo Credit: Andre Benz
Are there any new condos or developments in Malibu that have gone up recently or will be completed soon in 2020?
The area that lost most of the homes in the Woosley Fire Nov 9, 2018, is starting to rebuild and lost almost 600 homes. That area will be the hottest market next 1-3 years.
Any there any new restaurants or shopping centers in Malibu that have recently opened up that you would recommend?
Well after 10 years of talk, we finally had a “Whole Foods” open in Malibu along with a handful of new restaurants that will be opening over the next few months. Local restaurants that are expanding their menus and cuisine, so very excited for those. It’s so hard to get permits for any new development.
What is your take on the current mortgage rates? Do you project these rates to go up or down in 2020?
I think rates will remain historically low this year. After all, it’s an election year. Most of our deals are cash..but low-interest rates are important to every facet of the Real Estate Market.
Photo Credit: Parker Amstutz
Is there anything else you would like us to know in terms of Malibu?
Weather and lifestyle are what Malibu is all about. It's not just celebrities but the best place to raise a family in Southern California. Outdoor living is the epitome of the Malibu lifestyle. Our beaches, surfing, and incredible hiking and mountain biking.