Howie Mandel snags a deal on his Malibu home

By Erika Riggs, Zillow Blog

This time around, Howie Mandel chose to say “deal.”

The host of “Deal or No Deal” recently sold his Malibu home for $7 million, after the counterintuitive move of raising the price on it.

According to real estate agent Mike Gardner of Malibu Real Estate, Mandel learned quite a bit about brokering deals from his time on the show.

“Howie knew what price he wanted, held out for it, and got it … even if it took over two years,” Gardner wrote in a blog post.

In fact, Mandel was so confident about his Point Dume-area home, he raised the price by $500,000 in January — after 15 months on the market.

Located at 6950 Dume Dr, Malibu, CA 90265, the home was designed by architect Douglas Burdge to resemble a Nantucket-style estate with large windows and an indoor-outdoor living flow, all with incredible views of Santa Monica Bay. Inside, the 5-bedroom, 5.5-bath home is host to a number of details including hand-scraped wood floors, open beams and custom molding. The grounds include a large pool, grassy expanse and separate 1-bedroom, 1.5-bath pool/guesthouse.

Mandel bought the home for $3 million in July 2006 and completely rebuilt it in 2008. His price increase, notes Gardner, timed perfectly with a flurry of real estateactivity in the Point Dume area. There are currently 453 homes on the market in Malibu, and the area is seeing a generous uptick in home values, increasing 29.3 percent year-over-year.

Mandel’s listing was held by Matt Rapf of Pritchett-Rapf & Associates.

[Editor's note: This text has been updated to correct the sale price of the house and to clarify that Mandel rebuilt the home.]

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