77A Saffron St, Newtown, is on the market for $1.45m-$1.55m.

All is not as it seems at a high-end ‘mullet house’ that’s hit the market just off the ‘Paris end’ of Pakington St in Newtown.

The traditional weatherboard facade at 77A Saffron St has all the hallmarks of an original period home but is in fact just a new front for a striking contemporary townhouse.

Vendors David and Rosie Ciola love modern design and had to be convinced about marrying old and new when knocking down a Californian bungalow on the block they bought 20 years ago.

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The low-maintenance courtyard is like an extension of the living space.

With a heritage overlay in place, they looked to neighbouring cottages for inspiration to come up with a sympathetic facade to conceal their modern entertainer.

“When we were designing it we weren’t sure but now we love it, it just meets the streetscape beautifully,” Mr Ciola said.

“We have gone with the feature metal cladding, pitched roof and we introduced a bit of recycled brick and a double garage at the back, yet still maintained the feel of a timber cottage at the front in line with the heritage overlay.”

The developer and builder, who runs D. Ciola Developments Pty Ltd, worked with an architect on the three-bedroom townhouse, which is selling through Jellis Craig Geelong agent Jeff Begg for $1.45m to $1.55m.

Timber floors and high ceilings contribute to the quality feel throughout.

A wide rear lane allowed for the inclusion of a double garage which also incorporates a laundry.

Curves soften the lines in the bathrooms.

A huge set of stacker sliding doors connects the main living area centrepiece to a courtyard, featuring recycled brick the couple hand-picked at a Melbourne salvage yard.

Ms Ciola said they included all the features they would have liked in a townhouse built for themselves, such as lots of windows, including a kitchen servery, to maximise natural light and a large living area and kitchen with double ovens to feed their extended family.

“Being Newtown I think it deserved the high-end finishes,” Mr Ciola said.

“It is luxury – it’s the hight quality floorboards and fixtures, it’s a nice staircase, it’s high ceilings, it’s full height doors.

The stylish kitchen has loads of bench and cupboard space.

“That living area with those stackable doors and the interaction between indoor and outdoor, it works beautifully.”

A full bathroom with a timber and stone curved vanity is located on the entry floor, alongside a home office, with another two bathrooms, including the luxurious ensuite, servicing the bedrooms upstairs.

Mr Ciola said the floorplan was equally suited to professional couples, young families or retirees.

The post Newtown ‘mullet house’ nails tricky modern balancing act near Pako’s Paris end appeared first on realestate.com.au.

U.S. home prices are projected to flatten in the third quarter and decline 1% year over year by the fourth quarter of 2025, according to a new report from Redfin.

The company also expects mortgage rates to remain elevated near 7% through the end of the year.

This marks a sharp reversal from more than a decade of mostly rising prices. Except for a brief dip in 2023, home prices have increased on a yearly basis since 2012, driven by a prolonged seller’s market.

Inventory grows, sales shrink

Redfin said cooler prices stem from a widening gap between supply and demand.

Existing-home sales dropped 1.1% in April compared to a year earlier to reach a six-month low. The homes that sold took a median of 40 days — five days longer than a year ago.

Meanwhile, the total number of homes for sale surged 16.7% to a five-year high, with new listings up 8.6% during the year.

The housing market has struggled since mortgage rates began climbing in early 2022. And recent economic uncertainty has further slowed buyer activity, Redfin added.

Redfin economists expect prices to decline nationwide for two main reasons:

• Negotiated discounts: Buyers are negotiating prices down, especially for homes that need work or are located in less desirable areas.
• Lower list prices: As homes sit on the market, sellers are more likely to cut prices or list below comparable properties to attract offers.

Redfin agents recommend buyers target homes that have lingered on the market. These are often ripe for negotiation, including price reductions or seller concessions like rate buydowns or repair credits. Nearly half of current sellers are offering concessions — just shy of record highs.

“A lot of the people selling right now bought in 2021 or 2022, when home prices were near their height,” said Corey Stambaugh, a Redfin Premier agent in North Carolina. “Even though we advise them to list at today’s market value, a lot of them decide to list high to recoup their money. But those sellers face reality once their home has been sitting for a couple weeks without any offers.”

Although a 1% dip in prices won’t radically change affordability, it could help some buyers. Combined with steady wage growth of about 4%, housing is expected to become slightly more affordable.

Still, Redfin cautions that waiting for a price drop may not be worth it.

“We know there’s room to negotiate right now, so that’s the best way to take advantage of the changing market,” said Chen Zhao, head of economics research at Redfin. “And the sooner you buy, the sooner you start to build equity.”

Contract cancellations spike

Redfin also reported that approximately 56,000 U.S. home purchase agreements were canceled in April, or 14.3% of homes that went under contract that month.

That’s the second-highest rate for the month of April since 2017, just behind April 2020 during the COVID-19 pandemic.

Cancellations are rising as buyers face sticker shock, economic anxiety and an abundance of options. With inventory at a five-year high, many are confident they’ll find better homes later.

Redfin agents said buyers should consider submitting backup offers if they lose a bidding war.

“Two of my buyers have won deals this way — where the previous buyer canceled and then we wrote an offer before the home was even back on the market, and the seller accepted,” said Alison Williams, a Redfin Premier agent in Sacramento, California. “It’s a tactic that has been working really well.”

Florida is home to five of the top 10 metro areas for the highest cancellation rates in April.

1. Atlanta – 20%
2. Orlando – 19.4%
3. Tampa — 19.1%
4. Riverside, California – 19.1%
5. Miami – 18.9%
6. Fort Lauderdale, Florida – 18.9%
7. Fort Worth, Texas – 18.7%
8. Las Vegas – 18.6%
9. Jacksonville – 18.4%
10. San Antonio – 18.2%

States like Florida and Texas have been building more homes than anywhere else in the country, and buyers in these locations may feel empowered to walk away, knowing they’ll likely find other suitable options.

Florida, in particular, faces added pressure from rising homeowners association fees, insurance costs and frequent natural disasters, Redfin reported.

Amid a growing wave of real estate thefts that involve fraudulent property transfers, a bipartisan pair of Pennsylvania lawmakers are pushing for new legal protections the state’s homeowners.

Reps. Chris Rabb (D) and Tim Bonner (R) have introduced H.B. 1406 to crack down on deed fraud — a crime they say is being exploited due to the state’s lack of specific laws targeting such offenses.

“It’s pretty remarkable that in 2025 we still do not have a law to safeguard homeowners from fraudulent property transfers,” Rabb said. “Until we address this legislative oversight, victims of real estate theft will remain vulnerable and without any real avenues for justice.”

The proposed legislation would formally define deed fraud as the intentional and fraudulent transfer of real property using forged, altered or falsely executed documents — or through other deceptive practices.

Provisions would also strengthen the legal standing of those affected by fraudulent transfers, ensuring they have a defined process to challenge the theft in court and reclaim their property.

H.B. 1406 has been referred to the Pennsylvania House Housing and Community Development Committee for consideration.

High profile case in Philadelphia

Deed fraud typically involves scammers filing forged or altered property deeds to claim ownership of a home — often unbeknownst to the rightful owner.

In Philadelphia, notary public Gwendolyn Schell was recently charged for her alleged involvement in an extensive property theft operation dating back to 2017.

Prosecutors say Schell and co-conspirators orchestrated the fraudulent transfer of nearly two dozen homes by forging the signatures of both deceased individuals and unsuspecting living victims on property deeds.

“We need to stop all attempts by thieves to steal ownership of property,” Bonner said. “As we have no current legislation to specifically stop the attempted theft of real estate, this legislation will have a deterrent and punitive impact on anyone who may have such criminal intent.”

Industry support

The Pennsylvania Land Title Association told HousingWire that it supports any effort to deter deed fraud and protect homeowners, and it “looks forward to working with legislators on this important issue.”

Jon Dovidio, the chief strategy officer at EquityProtect, also voiced strong support for the legislation.

“EquityProtect applauds Pennsylvania lawmakers for taking steps to acknowledge the growing threat of deed theft,” he said. “It’s a real estate scam that has become increasingly prevalent, as detailed in a recent alert issued by the FBI. However, while defining deed theft and putting greater penalties in place is important, it is not sufficient to stop the crime from happening.”

In April, EquityProtect announced new partnerships with title companies across the country in an effort to bolster protections against deed and title fraud. 

MetroList, the largest MLS in Northern California, has rolled out a new “add/edit” voice-controlled app for real estate agents to collect and input property data directly from the field.

The app, developed in partnership with real estate technology company Lundy Inc. — allows agents to speak property details aloud while walking through homes, with the software automatically populating the appropriate listing fields.

“This is a game-changer for our subscribers and for the industry as a whole,” said Dave Howe, MetroList president and CEO. “By enabling agents to collect their listings data on-site, using the app to provide verbal descriptions of the property, they can save valuable hours and raise the standard for listing quality across our MLS.”

Agents throughout the region have already begun using the app, according to MetroList.

It is designed to streamline listing management and reduce manual data entry, which officials say could lead to more complete and searchable property records.

“Our mission at Lundy is to make real estate technology as intuitive and powerful as possible,” said Justin Lundy, CEO of Lundy Inc. “With MetroList, we’ve delivered a solution that lets agents focus on what matters most — serving their clients — while our platform takes care of the details.”

Real estate professionals using the tool say the new system is improving both efficiency and accuracy.

“This tool is a game changer,” said TaLisa Bealum, a managing broker at Coldwell Banker Realty. “It saves time, reduces mistakes and helps agents create stronger, more detailed listings. I’m excited to see AI making our jobs easier and smarter.”

Compass is hungry for more growth and it is turning to Lacey Conway to help it realize its ambitions. 

The brokerage on Thursday announced its appointment of Conway as the firm’s executive vice president of mergers and acquisitions. 

Conway joined Compass in the spring of 2024 through the firm’s acquisition of Latter & Blum. At the time of the acquisition, Conway was serving as the CEO of Latter & Blum, a role she had held for roughly five years. After the acquisition, Conway was made a regional vice president within Compass.

Compass said Conway has already helped spearhead growth for the brokerage throughout Louisiana, Mississippi, Alabama and Texas. In her new role, Conway will continue to assist in Compass’ growth by finding and executing partnerships and M&A deals with other brokerages nationwide. 

“We are thrilled to have Lacey lead the next phase of our M&A strategy,” Kalani Reelitz, the CFO of Compass, said in a statement. “Her expertise and deep alignment with our mission will be instrumental as we continue to expand our community of top-tier brokerages and exceptional agents.”

Compass CEO Robert Reffkin has not been shy in voicing his growth goals for the company. Reffkin has routinely announced that one of his company’s main goals is to realize an average of 30% market share in its top 30 markets.