malibu house auction

"Million Dollar Listing" house in Malibu to be Auctioned -- at 65 Percent Off Original listing price

Apparently not even a starring role on what is arguably the most-watched real estate "reality" show -- Bravo's "Million Dollar Listing" -- was enough to attract buyers to this 5,634 square foot home in Malibu. The canyon property is headed for a live on-site auction on May 22 with the opening bid set at $1.9 million -- substantially down (65%) from the original listing price of $5,495,000.

Expect the house to sell for just under $3 million, says Malibu Prudential agent and local blogger, Mike Gardner. Gardner lives near the listing himself and actively tracks the local Malibu market on his web site. The auction has a reserve, which if not met, means the house won't be sold.

The four-bedroom architectural home is located in a private, gated canyon with mature oak trees and streams. It is a short walk to the beach through a tunnel and the home has ocean views. It sits on a flat acre and there is a detached one-bedroom, one-bath guest house. The state-of-the-art kitchen includes stainless steel appliances. The flooring is white marble, imported from Greece. The driveway and motor court are constructed of Arizona flagstone. Katie Bentzen of Arete Estates shares the listing with Hilton & Hyland's Chad Rogers, one of the three "Million Dollar Listing" stars.

Tags: luxury home auction, luxury housing real estate, malibu, malibu house auction, malibu real estate, mike gardner, Million Dollar Listing, million dollar listings, real estate auction