The historic property sits on a whopping 23 private acres, yet it’s just a few minutes drive from downtown Annapolis and less than an hour from Washington, D.C.
Blog
The 27,000-square-foot estate, which Paul Fireman originally put on the market in 2016 for $90 million, was cut in price several times and last listed with an asking price of $33 million.
In a unique move, Steve Doty of ERA Doty Real Estate and Tom DeWine of ERA Colonial Real Estate partnered to buy ERA Team Real Estate in Arkansas.
The company believes the new service will be particularly useful during the coronavirus pandemic, when numerous Americans have missed their housing payments.
The striking new build in Mudgeeraba’s Jabiru Estate has sold for $4.6 million.
A mind-blowing house unlike anything else on the Gold Coast market has been snapped up for a record $4.6 million well ahead of the planned auction.
The stunning two-level, seven bedroom residence in Mudgeeraba’s Jabiru Estate had been on the market for less than a week before a local buyer swooped.
Jabiru House, Mudgeeraba.
Harcourts Coastal agent Katrina Walsh, who led the marketing campaign on Jabiru House — due for auction on September 23 — said the one-of-a kind residence attracted a frenzy of interest.
“We were inundated with inquiry from expats, interstaters and locals,” she said.
“The local buyer was attracted to the architecture, the green and the privacy.”
SeaBreeze building designer Renee Ellen and builder Paul Lingard worked together to design, construct, landscape and style the property on behalf of the overseas sellers.
Jabiru House, Mudgeeraba.
Ms Ellen drew heavily on Brazilian architecture while embracing the Japanese ethos of wabi-sabi, whereby beauty is discovered in imperfection.
“Brazilian architecture is very fundamental — it’s very sculptural, it’s big boxes and walls that open up,” she said. “The climate here in Queensland is very suited to that.”
The imposing facade features weathered vertical timber screening alongside hand-laid local stone while raw concrete, timber and stone create a consistent palette inside.
Jabiru House, Mudgeeraba.
The way in which the house integrates with the natural landscape was the starting point for the design which saw a horse paddock reshaped to accommodate the main structure.
“Working overseas for a long time really opened up my mind up to taking a fresh approach, letting the potential of the land and the house talk to you,” Ms Ellen said.
Jabiru House, Mudgeeraba.
Custom-made furniture, fittings and decor, many sourced from abroad, saw the final interior touches applied to the 12-month project earlier this year.
“The house is unique in that luxury finishes have been used where they belong rather than anything having been copied from a magazine,” Ms Ellen said.
“The most difficult aspect was making everything appear quite effortless.”
Jabiru House, Mudgeeraba.
Jabiru House, Mudgeeraba.
A 25m lap pool sits partially below the ground negating the need for pool fencing while an underground gymnasium is tucked beneath the basketball/tennis court.
The Lagoon Way sale eclipses the $4.15 million achieved on a resort-style retreat on Jarema Drive, Mudgeeraba, sold this month by Kollosche’s Ryan Ward and Michael Kollosche.
Jabiru House, Mudgeeraba.
The post One-of-a-kind house sold for a record price pre-auction appeared first on realestate.com.au.
Small homes are selling faster but buyers of all income levels want more space, according to a study by Redfin released Wednesday.
Sixty-four percent of prospective homebuyers said they’d spend more than originally planned for the perfect home, according to a survey by LendingTree.
The increase sent the Pending Home Sales Index sailing to 122.1, marking the third month in a row of sales growth, according to the National Association of Realtors.
The future of New York City, where Compass was founded, remains bright, Robert Reffkin argued in an op-ed for CNN.
Securing a home loan could be a major obstacle for first-home buyers, despite experts tipping the group to drive Melbourne’s property market recovery.
Young people in coronavirus affected industries are being heavily scrutinised by big banks up until settlement, mortgage experts say, with wait times for pre-approval blowing out.
Mortgage Choice chief executive Susan Mitchell said those working in hospitality, tourism and retail should “expect to get more questions from the bank about (their) financial situation right up until the loan is settled”.
RELATED: HomeBuilder scheme: Geelong sales surge as first home buyers chase grants
Coronavirus: Melbourne battler suburbs, regional cities tipped to rebound fastest
C&L Residences: Collingwood apartments could cut owners’ energy bills, mortgages
Getting a home loan is getting harder for some. Picture: iStock
“Pre-approval isn’t an absolute guarantee and is subject to no adverse change in your financial situation,” Ms Mitchell said.
“The bank will look at your application again once you’ve found the property you want to buy.
“I would encourage anyone in an affected industry to ask for a fully assessed pre-approval before buying at auction so you have more peace of mind of your borrowing power.”
Carpenter Troy Hill, 28, said his pre-approval became void after coronavirus hit.
While he managed to “scrape through” and buy his first home in Kilsyth, being a sole trader made getting his loan approved a lot harder.
“It was basically just a game of cat and mouse, back and forth with the banks,” Mr Hill said.
“Banks were taking a long time to approve finance — I had to keep pushing for an extension. “This whole scenario has really impacted borrowing capacity, but I managed to still scrape through.”
Carpenter Troy Hill said he had to jump through a number of hurdles to get approval for a home loan. Picture: Mark Stewart
Home Loan Experts credit manager Sharon Xie said young people like Mr Hill were most frequently impacted by tighter lending restrictions.
“Young Australians are more affected as they are less experienced and may work in a more unstable environment,” Ms Xie said.
“Lenders may have tightened up certain policies. (But they are) are still willing to lend as long as your employment is continuing.
“In fact, the majority of lenders have announced they are willing to consider people who are on JobKeeper income.”
Banks are reported to have a bottleneck of loan applications. Picture: Ian Currie
It comes as property pundits tipped first-home buyers would lead the way in Melbourne’s coronavirus recovery.
Corelogic’s head of research Tim Lawless said first-home buyers eligible for government support would boost demand for affordable pockets and help drive the market out of the downturn.
Bank of Melbourne chief executive Mark Melvin confirmed JobKeeper payments were considered a type of income for home loan applications, and lending criteria had not changed for specific industries.
“We have made significant improvements to our home loan processing during COVID-19 and the majority of our applications are being processed within our standard turnaround times,” Mr Melvin said.
“Bank of Melbourne has also recently reduced lender’s mortgage insurance to just $1 for eligible first-home buyers.”
Buyer’s advocate Cate Bakos said some of her clients had experienced 40-day queues for assessment at the major banks.
Cate Bakos said some of her clients had experienced 40-day queues for assessment at the major banks. Picture: Mike Dugdale
Strategic Finance director and mortgage broker Mario Borg had also noticed wait times for loan assessment blow out to this length during the pandemic.
But he assured would-be borrowers banks “don’t want to stop lending, they want to make sure they’re lending to the right people”.
“There is a heightened level of scrutiny and compliance that started with the (banking) royal commission last year, then we got whacked with COVID-19, which has exacerbated it,” he said.
“(But) we’re finding the second-tier lenders are offering some very sharp deals right now.”
— with Jack Boronovskis, Samantha Landy
READ MORE:
Melbourne stage four restrictions prompt sight-unseen sales
Great Gatsby house, Balwyn North Art Deco design has Rivoli-inspired cinema
Victorian housing affordability best since 2000, single homebuyers up
The post Coronavirus: Lenders scrutinise buyers in pandemic affected industries appeared first on realestate.com.au.