Mandel Waits out the Low-ballers

By Penny Munoz

Former Host of “Deal or no Deal”, Howie Mandel finally made a deal of his own, selling his Point Dume Malibu home for $7.75 million.

Mandel’s real estate agent, Mike Gardner of Malibu Real Estate, said the Canadian born television personality must have picked up his business savvy brokering skills from being on the show for so long, because “Howie knew what price he wanted, held out for it, and got it… even if took over two years.”

Despite allegedly receiving several offers for the Nantucket-style estate, Mandel gave low-ballers the predictable “no deal.” Even after being on the market for 15 months, the confident Mandel raised the price by $500,000! Proving that nobody haggles the deal master. Having bought the home for $3 million in July 2006, Mandel was wise to hold out on negotiations because the home sold at the peak of activity in the Point Dume area.

The Doug Burdge designed home features an unparalleled view of Santa Monica Bay, which can be enjoyed from any of the five bedrooms, or the large two-storey guest house next to a luxury-sized pool. With state-of-the-art finishes throughout the house, like hand-scraped wood floors, open beams and custom molding, it’s no wonder Mandel was in no rush to sell. “Can you imagine being the buyer, seeing the home, then trying to figure out a strategy when you found out who you were negotiating with?” said Gardner. “The only way to win that game is make an offer with a seven in front of it and be prepared to go all the way to the asking price.”

Images via Zillow.com