With a red-hot seller’s market, listings are now getting multiple offers — and agents have to be prepared for bidding wars. Here are a few tried-and-true strategies agents can use to beat out the competition.
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The home is a converted stables.
Forget box cutter coffered ceilings, parquetry floors and decadent staircases, this is the authentic kind of French provincial outside of France.
A charming converted stables at 4 Tobin St, Maldon is offering buyers the real deal.
The two-bedroom house is on the market with an asking price of $698,000, but Castlemaine Property Group agent Elouise Dale doesn’t expect it to last long.
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Welcome to The French Quarter.
Whitewashed stone walls and timber ceilings are a feature.
Known locally as The French Quarter, the property features textured brick walls, a rustic kitchen, and a courtyard in the dappled light provided underneath draped vines.
A loft in the tri-level home has also been converted into a yoga studio.
Ms Dale said the artistic vendor transformed the property after picking it up as a small bed and breakfast in 2008.
Vines cover the courtyard.
Just add a drop of wine.
Rustic charm in the kitchen.
The loft has been converted into a yoga studio.
“She’s from the southern states in America and I think that French influence is quite strong in her home state,” Ms Dale said.
“At first it was just her weekend escape; she loved it because she could walk in the door, put her bags down and walk outside for a glass of wine.”
Now with the vendor moving closer to Melbourne to be nearer to her grandkids, there had already been strong interest in the site, Ms Dale said.
A sitting room or guest’s bedroom with kitchenette.
The property has a $698,000 asking price.
The main bedroom.
“It’s really gorgeous and everyone whose been there has said it’s better than the videos, which is unusual,” she said, adding the whitewashed stone walls had been particularly popular.
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The 1840s interior of this Regentville home has been retained.
It’s been nearly 180 years since it was built and, though much has changed in the world around it, this Western Sydney workers’ cottage has remained the same.
The three-bedroom house on Bungarra Rd in Regentville near Penrith recently sold for $1.49m and has an interior that still reflects how people lived when it was constructed back in the 1840s.
The sandstone walls have been retained, with parts still covered in what appears to be the lime wash often used in old settler cottages at the time.
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Floors are a mix of hard timber and concrete and most of the rooms are centred around the old fireplaces.
Owned by the same family for close 100 years, the property sold at auction on the weekend for $70,000 over the reserve price. The auction attracted seven registered bidders.
The home sold at auction for $70,000 over reserve.
Selling agent Joshua Cassells of Starr Partners said it was a high price considering the strict heritage restrictions.
“It was like a museum,” Mr Cassells said. “You’d have to be careful with any changes.”
The home was largely in original 1840s condition because the sellers had respected the history of the home and kept it in excellent condition, Mr Cassells said.
“It was a once in a lifetime sale, literally,” he said. “It’s been in the same family for a very long time.”
The home was owned by one family for close to 100 years.
The home was originally constructed as housing for mill workers and had been part Sir John Jamison’s Regentville Estate. It was later converted into a single dwelling in the 1930s.
The three-bedroom building is the last remaining evidence of a previous riverside development in the region.
The house was one of 780 Sydney property that went to auction this week, roughly a quarter more than last week and 32 per cent more than over the same week last year.
There were seven bidders.
Preliminary data showed about 75 per cent of the auctions were a success for the vendors – up from last week’s auction clearance rate 66 per cent.
The clearance rate may fall as more results are reported due to the tendency for agents to report positive results faster.
The post Time warp home from 1840 hoisted into modern era with $1.49m sale appeared first on realestate.com.au.
Sean O’Hara, with sons Aidan, Jesse, and Zac, at their home in Dee Why up for sale. Picture: Tim Hunter
Houses with backyards have been getting harder to come by across much of Sydney during the pandemic and the shortage of sales has kept prices high despite the weaker economic conditions.
Analysis of real estate listings showed there were less than 100 houses for sale within a 10km radius of the CBD with a price tag under $1.5m, with much of the housing requiring substantial work.
There was a similar situation in the city’s coastal regions, with less than 50 houses for sale under $1.5m in the northern beaches and a similar number in the eastern suburbs.
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The lower supply of houses with backyards comes amid an increase in unit owners seeking to trade up to bigger properties.
This increased competition among buyers and meant opportunities to get a bargain price for “family-friendly” properties evaporated.
CoreLogic’s Eliza Owen said COVID-19 had a bigger impact on listings than prices.
Housing experts said a different dynamic was at play in the inner city unit market, where supply has been rising while demand from investors – historically the biggest market for units – has nosedived.
House supply in Sydney’s west was also significantly higher with close to 4000 houses up for sale, according to My Housing Market data.
“There’s more demand for bigger properties and work from home arrangements have probably been a factor in that,” My Housing Market economist Andrew Wilson said.
“The Sydney economy has also done better than many expected and buyers have adjusted to that reality.
“Buyers of mid-range houses have been less affected by job cuts, they’re still active, so prices for houses have been flat rather than falling.”
CoreLogic data showed Sydney’s median home price has dropped by about 2 per cent since the COVID-19 crisis started in March but remains about 12 per cent higher than a year ago.
CoreLogic head of research Eliza Owen said COVID-19 had a bigger impact on the number of properties marketed than prices.
New listings during the stage two restrictions from mid-March to early May fell 50.3 per cent. Listings later bounced back but remain below levels reported last year, she said.
Dee Why residents Sean and Kristy O’Hara realised it was a good time to be listing their home after realising there was a dire shortage of freestanding houses with backyards in their suburb.
Their two-level house on Turner St is one of just 10 houses up for sale in the suburb. It is also one of only six priced under $2m.
Backyards like those in the O’Hara’s Dee Why house are becoming rarer. Picture: Tim Hunter.
There were even fewer listings in surrounding suburbs Narraweena and Cromer, while southern neighbour Curl Curl had just three house listings.
The low supply has come at a time of rising demand in the area — realestate.com.au data showed northern beaches properties attracted among the highest levels of interest online.
“Just looking at what’s on offer in our area it’s pretty obvious there is a shortage,” Ms O’Hara said.
The couple are moving to a nearby home with “renovation potential” and will be seeking to fix it up. Their home goes to auction September 12 with Belle Property agent Nick Duchatel.
The post Most competitive suburbs for buyers: the Sydney areas where houses with backyards are in short supply appeared first on realestate.com.au.
J. Lo and A-Rod have splashed out on a $45m mansion on Star Island. Picture: Realtor/Getty
For the couple who has everything, adding a spectacular piece of real estate to a burgeoning portfolio is par for the course.
A-listers Jennifer Lopez and Alex Rodriguez have acquired a staggering $45 million (US$32.5 million) waterfront property on the celeb-studded Star Island in Miami Beach, according to TopTenRealEstateDeals.
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The home has its own jetty. Picture: Realtor.com
The sweeping abode sits on Star Island in Florida. Picture: Realtor.com
What a view. Picture: Realtor.com
One of the home’s 10 bedrooms. Picture: Realtor.com
Built in 2003, the estate last changed hands in 2011 for $US25.5 million. At that time, it was one of the highest-priced sales ever in Miami Beach. The owner proceeded to renovate and expand the home to make it even grander.
Jennifer Lopez and Alex Rodriguez, who have been together since 2017, both share a love of real estate, and have been collecting houses almost as often as Rodriguez collected base hits for the New York Yankees.
The kitchen Picture: Realtor.com
Picture: Realtor.com
The huge shower in the bathroom. Picture: Realtor.com
With multiple homes across America’s east and west coast, and currently living in one of their homes in Coral Gables, Florida during most of the pandemic lockdown, the pair ventured out recently to purchase this mansion, which is located on South Florida’s island of super-rich CEOs and entertainers.
Star Island is one of several man-made islands built back in the 1920s, and access to the oval-shaped island is by a single road. The guard-gated, exclusive enclave has just under three dozen extremely expensive homes, and is often referred to as Miami’s Millionaires’ Row.
Luxury everywhere. Picture: Realtor.com
What a view to wake up to. Picture: Realtor.com
Island living. Picture: Realtor.com
J-Lo & A-Rod. Picture: Realtor.com
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Consisting mostly of Old Florida-style homes with a few modern builds, the Lopez-Rodriguez mansion features large open-and-airy rooms that open to the sea from their backyard Biscayne Bay.
Residents, past and present, include Gloria Estefan, Sean ‘Diddy’ Combs, Don Johnson during his Miami Vice days, and Shaquille O’Neal.
Most of the rooms open to the sea. Picture: Realtor.com
Tonnes of natural light in the living rooms. Picture: Realtor.com
Picture: Realtor.com
What a palace. Picture: Realtor.com
Sitting on almost an acre of land, the 1,370 sqm home has 10 bedrooms, 12 bathrooms, an elevator, library, wine room, stunning kitchen, family room, a guesthouse and a 33m wooden dock.
The expansive pool deck has an infinity pool with spa and views of the bay and Miami skyline.
Jennifer Lopez and Alex Rodriguez in 2019 in New York City. (Photo by Dimitrios Kambouris/Getty Images)
Tonnes of room to entertain. Picture: Realtor.com
Picture: Realtor.com
Another bathroom. Picture: Realtor.com
Room for a pair of shoes or 40. Picture: Realtor.com
Architectural details include exterior white rendering, large arched windows, interior Venetian plaster walls and antique fireplaces including one in the main bedroom.
It won’t be long until Jennifer Lopez and Alex Rodriguez move in, and will soon be enjoying life in their new mansion on the water with the twinkling lights of Miami in the background.
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Picture: Realtor.com
Picture: Realtor.com
Picture: Realtor.com
The post Inside Jennifer Lopez and Alex Rodriguez’s new $45 million island home in Florida appeared first on realestate.com.au.
The Novar Gardens residence at 3-5 Old Drive is palatial inside. Pic: realestate.com.au
Fancy a lavish home where you can live like royalty?
The glamorous Novar Gardens residence at 3-5 Old Drive won’t disappoint.
Silk wallpapers, Waterford crystal chandeliers, an Adam-style fireplace, arched pocket French doors, domed ceiling roses and marble bathrooms are among the classy features that make the house feel like a palace.
The much-loved family home on a 1724 sqm block is on the market for the third time since it was built in 1969 by racing identity Pat Cummings.
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Waterford crystal chandeliers and an Adam-style fireplace are among its classy features. Pic: realestate.com.au
It’s grand and elegant at every turn. Pic: realestate.com.au
Even the curtains give it a palatial feel. Pic: realestate.com.au
Owners John and Dawn Eastwood bought it in 1998 as a grand home but they are responsible for making it the elegant residence it is today.
“The layout of the house attracted us, very much so,” Mr Eastwood said.
“But we’ve upgraded it quite substantially.
“Pat Cummings built the house and he had five children … so it’s quite a large house.”
Like a palace, the house is split into separate wings, with five bedrooms on one side and the main living areas on the other.
The backyard is just as elegant, with a sparkling white-tiled pool and manicured gardens setting the scene.
The arched French doors offer picturesque views of the backyard. Pic: realestate.com.au
Name a more impressive bathroom than this, we dare you. Pic: realestate.com.au
The perfect spot to wind down after a long day. Pic: realestate.com.au
Harris Real Estate agent Karen Dorman, who is selling the property with Tobi McFadyen, said it would be difficult to replicate the house’s style today.
“To build something like that now, it would be very expensive,” she said.
It hasn’t been on the market long but Ms Dorman said it was already attracting interest from prospective buyers.
“It’s more from established families or people living locally who don’t want to build anything massive,” she said.
It is on the market with a price guide ranging between $1.45 million to $1.55 million.
The post Live like royalty in a palatial Novar Gardens home appeared first on realestate.com.au.
This apartment at 3/81 Moray St, New Farm, sold to a cash buyer for $4.8m.
BUYERS hamstrung by COVID-19 are pouring their life savings into bricks and mortar instead of shares or holidays, paying cash for multi-million dollar properties across Brisbane.
With more buyers than listings and money cheaper than ever, local agents are seeing a growing trend in the number of home hunters “with money in the bank” who are not prepared to wait out the pandemic to secure their dream home.
And local agents say now is the time to buy without having to compete with interstate buyers for the best homes on the market.
Joseph Lordi of McGrath Estate Agents sold a home on Brisbane’s bayside this week for a whopping $8.5 million — and the local buyer paid for it in cash.
This property at 32 Sentinel Court, Raby Bay, has sold for $8.5m in a cash deal.
Mr Lordi said the sale of the five-bedroom home on 2300 sqm of beachfront land at 32 Sentinel Court in Raby Bay attracted seven offers — all from cash buyers — before selling to a middle-aged couple with “money in the bank”.
“Cash is king right now,” Mr Lordi said.
“At this price point — north of $4 million — there’s a lot of cash buyers.”
The view from the property at 32 Sentinel Court, Raby Bay.
Mr Lordi said he had started to really notice the trend in the past 12 months, when his agency sold four properties for more than $3 million each to local buyers, and all were cash contracts.
“We’re finding interstate buyer inquiry is pushing up the local buyers’ (prices),” he said.
“The inquiries from interstate are still there, but they just can’t get here. I have one lady with a budget of $10 million who has sold in Toorak and is now renting, but can’t wait to get back to Brisbane to buy because that’s where she’s from.
“The window of opportunity to buy without having to compete with interstate buyers is now. That’s what we’re telling (buyers) and I am noticing more urgency.”
Brisbane’s bayside is attracting cash buyers, according to local agents.
Mr Lordi said smaller sales around the $1 million to $3 million price bracket were to buyers who had either sold their previous home earlier in the year or had pre-approval and cash ready to go.
He said some buyers were even taking their money out of shares and putting it into property instead.
“I sold another one this week for $1.29 million in cash,” he said.
This townhouse at 5/1 Cross Lane, Cleveland, recently sold for $1.46m in cash.
The five-bedroom home in Tarragindi is yet to go unconditional.
Mr Lordi said he sold another property — a four-bedroom townhouse at 5/1 Cross Lane, Cleveland, prior to auction earlier this month for $1.46 million in cash, and another at 36 Raby Esp, Ormiston, for $1.225 million in cash, also prior to auction.
“I think people are seeing the value for money in the bayside, and the lifestyle,” he said.
“We’re getting a big feeder market from inner-city suburbs like New Farm, Bulimba, Ascot.
A knockdown property on a double block at 36 Raby Esp, Ormiston, recently sold for $1.225m to a cash buyer.
Especially downsizers who have sold their home for $2.3 million and are getting a waterfront property with a pontoon here for the same sort of money.”
“I feel people are seeing the advantages of having cash at the moment,” Mr Lordi said.
Place Kangaroo Point agent Simon Caulfield said buyers were turning to property because they were getting such low returns for having their money sitting in the bank and or in the volatile sharemarket.
“I think this might be the new norm,” Mr Caulfield said. “It makes sense economically, and from a lifestyle perspective.
“If you do the maths on $4 million and buy a property with it versus having the money in the stock market or getting a 1 per cent return from having it in the bank, you might as well buy something nice that you can also live in and get further enjoyment from.”
This apartment at 7/2 Scott St, Kangaroo Point, has sold for $4.4m in a cash deal.
Mr Caulfield has just sold an apartment in Kangaroo Point for $4.4 million to a younger cash buyer, who wanted an amazing property to enjoy because they could no longer travel.
“It’s hard to comprehend that level of funds and not think; ‘Wow, that’s a lot of money to put in one asset, but it shows the level of confidence,” he said.
The view of Brisbane CBD from the apartment at 7/2 Scott St, Kangaroo Point.
Mr Caulfield said buyers at the top end were no longer prepared to wait out COVID-19 to secure their luxury home.
“I think the reality has sunk in for people who have been sitting on their hands for six months. If you’ve got a lot of money, what do you do with it?” he said.
“There a lot of cash buyers, but not a lot of stock, so that’s starting to create a bit of competition.”
Patrick McKinnon of Place Ascot recently sold a home in Hendra for $2.4 million in a cash unconditional deal to a local family.
Mr McKinnon said the five-bedroom property at 36 Newmarket Street was on a 506 sqm block, with a pool and pool house.
This home at 36 Newmarket St, Hendra, sold for $2.4m cash.
He said he had three offers on the property before the vendors settled on the price.
“As long as COVID stays away, I think we’re going to have a cracking Spring,” Mr McKinnon said.
“Because people aren’t going on overseas holidays, they’re restructuring their lives and deciding where they want to live.”
Mr McKinnon said a number of sale-ready properties that had been put on hold a few months ago were now coming back on the market as vendors regained confidence.
“It’s just crazy money,”
“I just think all these people who are now buying are saying; ‘We want a nicer house, money’s cheap, let’s buy now’.”
The front of the house at 36 Newmarket St, Hendra.
And when it comes to properties, the bigger the better it seems, with the coronavirus changing buyer preferences.
“I think people are very mindful they need room to be able to work from home now,” Mr McKinnon said.
But buyer’s agent Lauren Moore of Lauren Moore Property said she did not recommend her clients buy with cash.
This apartment at 3/81 Moray St, New Farm, sold to a cash buyer.
“Unless a buyer literally has the full amount of cash for the purchase sitting in their bank account, it’s an extremely risky move in any market, but especially in a market like this,” Ms Moore said.
“There are purchasers that are prepared to take the risk, but as a buyer’s agent we guide our clients on the risks associated with making a cash offer and always recommend they discuss with their solicitors.
“If one party loses a job, or the valuation doesn’t stack up and they only have pre-approval, they need to find the rest of the money to complete the purchase.”
A render of The Oxlade penthouse, which sold to a cash buyer for $7m.
BRISBANE’S BIGGEST CASH HOME DEALS OF 2020
Address Sale price
32 Sentinel Court, Raby Bay $8.5m
Penthouse at 80 Oxlade Dr, New Farm $7m
404 Bowen Tce $2.24m
3/81 Moray St, New Farm $4.8m
7/2 Scott St, Kangaroo Point $4.4m
36 Newmarket St, Hendra $2.4m
5/1 Cross Lane, Cleveland $1.46m
36 Raby Esp, Ormiston $1.225m
3 & 4/59 Byron St, Bulimba $3.075m
1102/59 Byron St, Bulimba $1.95m
(Source: Place Estate Agents, McGrath Estate Agents)
The post Buyers paying millions in cash for Brisbane homes despite COVID appeared first on realestate.com.au.
The Cudlee Creek property at 163 Cudlee Creek Rd offers a quiet retreat. Supplied: Williams Real Estate.
A Cudlee Creek home offers an idyllic Hills lifestyle close to quality wineries, and could be used for a range of businesses.
Donna and her husband bought the home at 163 Cudlee Creek Rd three years ago, and have since renovated it throughout.
“Everything that could be changed, repaired, replaced or repainted, from the front door to the back fence, we’ve done it,” Donna says.
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The owners have renovated the property. Supplied: Williams Real Estate.
It has four bedrooms and three bathrooms. Supplied: Williams Real Estate.
“It used to be a BnB and we’ve done that part up and modernised it – I don’t rent it out but you easily could, and friends stay over and can wake up and have their own wing of the house, and all of our guests want to stay longer.
“We hosted my sister’s wedding here and set up a massive marquee out the back – it’s certainly a place to entertain and have parties.
“The property itself is like really stepping into a botanical gardens – you can hear the creek run from the house, it’s lovely.”
The home has four bedrooms, three bathrooms, covered parking for seven cars, an extensive 90-panel 20kW sun-tracking solar system, a cellar, an outdoor entertainment pavilion and extensive equestrian facilities.
“You can make around $8000 a year from the solar panels, and that’s on top of your free power,” Donna says.
It’s listed with an asking price between $1.1 million and $1.15 million. Supplied: Williams Real Estate.
“We also put a massive commercial generator in I call the ‘Yellow Submarine’, and that can power the home for four days on one tank.
“It’s a great income-producing property, which, if you wanted to run the BnB could be something really special.
“It would be perfect for young families with ponies, or if you just want to run some sheep and have a beautiful country lifestyle it would be great even for downsizers.
“It’s very easy to maintain. I’ve got some ponies and horses and the home has CCTV throughout the property, even in the stables, so I can be inside and watch my horses sleep and you can check up on them from wherever you are.
“There are plenty of opportunities here.”
With the property transformed, the couple are now ready to let someone else enjoy it.
“It was my forever home, moving up from the city, but now our situation’s changed and we’re looking to downsize to something that’s a little easier to manage as we get older,” Donna says.
The post Mix business with pleasure in versatile Cudlee Creek home appeared first on realestate.com.au.
No. 100 Martin Road at Badgerys Creek is on the market ahead of a rezone later this year.
Developers are circling a prized parcel of land on the door step of the Western Sydney Aerotropolis.
The 2.26ha site at 100 Martin Road, Badgerys Creek, is being offered to buyers, just months from it being rezoned from rural to enterprise use.
The development upside is drawing interest from builders, investors, developers and construction companies looking to cash in on the airport when it opens in 2026.
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No price guide has been made public, but comparable sales in the area have fetched in the range of $250 per sqm. This translates into a possible sale price close to $6 million.
The 2.26ha site is right near Western Sydney Airport, which is under construction.
Listed with Colliers International agents Thomas Mosca, Nick Estephen and James Cowan, the landholding will go under the hammer on September 10.
Mr Estephen said 100 Martin Road will be the second property in Badgerys Creek to go to a public auction in recent memory.
“The last time a property in this suburb was sold via an onsite public auction it exceeded the last suburb record by 60 per cent,” he said.
Described as the third CBD of Greater Sydney, Western Sydney Aerotropolis has seen companies such as Suttons Automotive, Hanson, Adelaide Brighton and Mirvac purchase land.
An artists impression of the new Badgerys Creek airport to be built.
Ideally located between the aerotropolis and the airport.
The area, which is set to accommodate a population of more than 1.5 million people by 2036, is experiencing immense growth, with the CSIRO also planning to build a research hub and Amazon committing to a 200,000sqm robotics fulfilment centre within the Aerotropolis.
When the site is rezoned for enterprise use, a number of different commercial and mixed employment uses will be able to be built including a warehouse complex.
“There is a lot of anticipation around the rezoning of the land in this precinct and developers are very keen to purchase land in the area,” Mr Cowan said.
Alan Walker and Andrew Lakomy of Cor Cordis are selling it in their capacity as receivers.
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This four-bedroom house at 88 Raven Street, Camp Hill sold at auction for $895,000.
BEN Balderston was about to order coffee from a Stones Corner cafe before heading to the auction of 88 Raven Street at Camp Hill on Saturday when his phone rang.
Four kilometres away, Place Bulimba lead agent Joanna Gianniotis was trying to give away a bottle of French Champagne to the first person to bid on the four-bedroom worker’s cottage on 607sq m but no-one was taking the bait.
That had a lot to do with the fact that one of her star bidders wasn’t there.
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Auctioneer Paul Curtain outside 88 Raven Street, Camp Hill
“I thought the auction started at 10,” Mr Balderston said afterwards.
At 9.06am, and with nothing but a vendor bid of $800,000 and some creative talk passing from the lips of Place Bulimba joint-managing director and auctioneer Paul Curtain, the auction was paused.
While the crowd of 40 waited, a sales assistant called the absent bidder.
“How far away are you?” she asked.
The main front bedroom.
The investment property, which had been rented out for the past four years for $615 a week, was owned by a software engineer who was watching from the main front bedroom as Ms Gianniotis put down the bottle of champagne and started working the crowd to gauge the level of interest from the three registered bidders who were in attendance.
The rear deck.
“I thought it was about to be passed in,” the owner said.
Mr Balderston, a local investor who was interested in land banking the property, had abandoned his coffee and was racing down Old Cleveland Rd to get to the auction.
At 9.13am he arrived, brushing passed onlookers and registering to vote over the front fence just as Mr Curtain recommenced the auction after finally gaining a bid of $805,000 from a family of four who were looking to move closer in to the city.
The crowd had thinned to half by this time but those remaining saw a robust auction of 35 bids as the family struggled to shake their new competition.
Mr Balderston stands on the road after arriving at 88 Raven Street, Camp Hill. You can register to bid at any time before the hammer falls at an auction.
“There’s strong demand for bigger blocks,” Ms Gianniotis said after the auction. “ And a lot are first-home buyers recognising the value of the land.”
SEE WHAT ELSE IS FOR SALE IN CAMP HILL
At $895,000 the family bowed out of the auction and the property sold to Mr Balderston, but they did not leave empty-handed.
“I always give away a bottle of champagne to the first bidder at my auctions,” Ms Gianniotis said.
Champagne has been part of Joanna Gianniotis’s auction campaigns for 18 years.
Mr Balderston may have missed out on his flat white coffee but there was a bottle of champagne for him also as the winning bidder.
“Lucky I rocked up,” he said.
The house was one of more than 50 to go to auction across Brisbane yesterday.
The post Coffee abandoned as bidder mixes up auction start time appeared first on realestate.com.au.