Homeowners say high costs, emotional stress are influencing renovation projects

Amid higher interest rates and a tight housing market, U.S. homeowners are increasingly choosing to renovate rather than relocate — and many are doing so under financial and emotional strain, according to a newly released nationwide survey.

A report released by Block Renovation, based on responses from more than 1,000 homeowners, paints a detailed picture of the home renovation experience in 2025.

Findings show that the majority of homeowners are digging into their savings to fund home upgrades while battling budget overruns, delays and emotional stress.

Roughly 73% of respondents said they used personal savings to cover renovation costs, significantly outpacing those who relied on credit cards (17%) and home equity loans (15%).

Only about half of homeowners funded their projects exclusively with savings, suggesting that many are combining multiple financial tools to complete their renovations.

Even with careful budgeting, 37% reported exceeding their initial spending plans. Cost overruns were most often linked to the rising price of materials (58%) and labor (40%).

Renovating to avoid moving

Renovation has become a financial necessity for many.

Sixty-four percent of respondents said they chose to renovate because they love their current home, while 12% said they were priced out of buying elsewhere — a number that jumped to 17% among millennials.

In the western U.S., where housing markets remain highly competitive, 16% said high costs were the main reason they chose to stay and remodel rather than move.

“Homeowners invest deeply in their renovations — not just financially but also emotionally,” said Julie Kheyfets, CEO of Block Renovation. “People are making deeply personal decisions to adapt their homes to their evolving needs, and renovating is one of the most expensive and stressful journeys someone might undertake.”

Mental fatigue

The emotional toll of renovation is clear. More than 85% of homeowners said the process caused stress, while 57% reported experiencing what the report termed “renovation fatigue” — a form of burnout brought on by delays, disruptions and the sheer number of decisions involved.

Millennials reported the highest levels of stress, with 67% describing it as moderate to high, and 40% said their renovation projects strained personal relationships. In comparison, only 15% of baby boomers reported relationship strain.

Living through construction was the top stressor (55%), followed by project delays (35%) and the pressure of making design choices (29%).

Building trust, new technology

Finding a trustworthy contractor is also proving to be a challenge for homeowners.

More than half of all survey respondents relied on personal referrals, a number that rose to 70% among baby boomers and 68% among Gen X.

Millennials, however, were more likely to use search engines or digital platforms, with 45% turning to online tools to find their contractor.

While new technology tools are beginning to enter the renovation space, they remain underused. Only 9% of all homeowners said they had used artificial intelligence tools during their projects. That figure rose to 16% among millennials.

Among those who relied on AI, the most common applications were for design and layout planning (73%), cost estimations (52%), and virtual consultations or mockups (43%).

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Top-producing California team joins Coldwell Banker Realty

The Joe Velasco Group — a high-performing Silicon Valley real estate team — has joined Coldwell Banker Realty in Northern California, moving over from Intero Real Estate Services, an affiliate of HomeServices of America.

Velasco, who launched his group in 2011, has built a reputation as one of the top-producing agents in California.

With more than $2 billion in career sales since entering the business in 2001, he has been ranked among the top 1% of real estate agents nationally for 12 straight years by RealTrends Verified.

In 2024 alone, his team closed $180 million in sales across 90 transactions.

“We wanted to partner with Coldwell Banker Realty because of their unparalleled support and resources, which will allow our team to continue delivering exceptional service to our clients,” Velasco said in a statement. “This partnership marks an important milestone for us, and we are excited about the opportunities ahead.”

Velasco’s team will now be based out of Coldwell Banker’s office in Los Gatos, California.

Coldwell Banker leaders pointed to the group’s deep experience in the high-end real estate market and its strong presence throughout the Bay Area as a strategic fit for the brokerage.

“Their expertise, along with their extensive reach throughout the Silicon Valley real estate market, has a proven track record of success,” said Jennifer Lind, West regional president at Coldwell Banker Realty.

“Their innovative approach resonates with a diverse range of clients — from discerning homebuyers to luxury sellers and developers.”

Coldwell Banker Realty operates one of the largest residential real estate networks in Northern California, with approximately 4,300 affiliated agents serving markets from Monterey to Lake Tahoe.

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Property insurers must prepare for aging population: report

The global population is expected to hit nearly 9.7 billion people by 2050, but beyond that, the nature of the population itself is changing due to aging. This is expected to fuel a rise in the “global dependency ratio,” or the proportion of people ages 65 and older to those of traditional working ages.

As a result, the property and casualty insurance industry will need to prepare for these rapidly changing age dynamics. This conclusion comes from a report published this week by Capgemini, a multinational information technology services and consulting company.

“By 2050, for every 100 working-age people, there will be 26 seniors to support, up from 16 today — a 63% increase,” the report explained. “And in most regions outside of Africa, the imbalance intensifies, approaching nearly one dependent for every three workers.”

This is augmented by a global shift to more urban-centric living. By 2050, nearly 70% of the global population will be living in cities, which concentrates people “and the risks they carry, into denser, more complex environments,” the report stated.

For property insurers, aging and urbanization trends are serving to reshape “the foundation of risk, value and demand,” according to Capgemini. And when people live longer while also crowding into “high-risk zones,” traditional models of homeownership and behavior change in ways that insurers must be prepared for.

The changes serve as a “call to redesign how risk is assessed, products are structured, and portfolios are shaped,” the report stated. This involves making choices that impact practices like loan underwriting and product offerings, as well as the use of new data sources so that insurers can be prepared to operate in an evolving global landscape.

This could involve changing to meet the evolving nature of property ownership, and to shift insurance products to reflect wider economic realities such as the market composition of intangible assets like data and intellectual property.

Property insurance, specifically homeowners insurance, is an increasingly disruptive factor in the homebuying market today, as noted by Odeta Kushi, deputy chief economist at First American Financial Corp.

“Historically, discussions about affordability have centered around mortgage rates, income, and house prices,” Kushi wrote in a social media post on Wednesday. “However, in today’s climate, homeowners insurance premiums have become an essential part of the conversation.”

First American published an analysis this week that describes how economic headwinds and an acceleration of extreme weather events have served to significantly raise U.S. homeowners insurance premiums. This phenomenon has the potential to hit older Americans on a fixed income particularly hard.

This has led some to advocate for the wider availability of property tax deferral programs designed specifically for older homeowners.

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The Fed is preparing for rate cuts, but waiting on job losses

During Wednesday’s FOMC press conference, Jerome Powell discussed how the economy was performing well before the trade war began and acknowledged that the tariffs were much larger than anticipated. As a result, the Fed has increased its projections for the risk of higher unemployment and inflation. 

This development isn’t surprising, as the impact of significant tariffs can lead to shortages in the short term. During the Q&A session, Powell emphasized that if the labor market deteriorates, the Fed has the ability to cut rates appropriately to mitigate the labor damage. However, they need to see evidence of a weakening labor market before considering more than the two rate cuts anticipated at the beginning of the year.

Labor data Is hard data

Powell discussed the importance of waiting to see if economic data worsens, as the Federal Reserve needs to balance labor data with inflation data that will be released over the next year. The uncertainty surrounding potential trade deals is creating challenges for the Fed. However, it was evident today that if the labor market declines, the Fed will take action. 

Powell mentioned that they closely monitor a series of labor statistics, but jobless claims will be the key indicator prompting a response. If the jobless claims data approaches 323,000 based on the four-week moving average, the Fed may act more swiftly than anticipated, as evidenced by today’s meeting, when he discussed the rate cuts in 2024:

Powell: “The 2024 rate cuts weren’t preemptive… If anything, it was a little late.”

The Fed acted quickly toward the end of last year because it saw the labor market getting softer than it liked, and its policy was very restrictive in its own model. I believe The Fed will act swiftly again once they can visually see the labor market breaking, as they’re modestly restrictive today with their policy.They need to see the data breaking before they act with some urgency.

chart visualization

Conclusion

As someone who created the labor-over-inflation model in 2022, I was pleased to hear about the importance of labor in Powell’s remarks today. He acknowledged that the Fed was late when cutting rates in 2024, as the labor market was getting softer than they first thought. He also mentioned that the labor market had stabilized before the trade war started and that the economy was on solid footing for the first few months of the year.

Regarding trade war inflation, we have to remember that it is a different setup than the pandemic inflation. Without an excessive rise in rent and oil prices, it is difficult for overall inflation to spiral out of control, as wage growth has slowed recently. These three factors could justify the Federal Reserve lowering interest rates more quickly if the labor market weakens.

Additionally, the inflation resulting from tariffs can be managed through trade agreements, making the concern about inflation in the long term less of an issue. As you can see, it’s a bit of a tricky act the Fed has to pull off for the rest of the year; however, it sounded to me 100% that if labor breaks, they will focus more on that than trade war inflation.

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Is it a good time to sell a house? ‘No’ is increasingly the answer

President Donald Trump’s trade war has turned perceptions of the U.S. economy upside down, and data is beginning to trickle in on how tariffs might impact consumer behavior in the housing market.

The latest numbers come from Fannie Mae‘s Home Purchase Sentiment Index, which measures consumer attitudes on housing using six questions from a national survey. The survey was conducted from April 1-18.

Despite the market turmoil that followed the April 2 announcement of Trump’s new global tariff regime, the index ticked up by 1.1 points compared to March. Even more surprising is that the increase is largely driven by an increase in respondents who aren’t concerned about losing their jobs.

chart visualization

But there’s another signal in the survey that shows a substantial shift in how people view the housing market. The share of respondents who believe it’s a good time to sell a house dropped by 6 percentage points year over year and by 9 points compared to the prior month.

Conversely, attitudes toward buying a house are largely unchanged. The share of respondents who believe it’s a good time to buy rose by 3 percentage points compared to March 2024 and by 1 point month over month.

But while sentiment toward buying hasn’t changed, it’s still very negative, as 77% of respondents say it’s a bad time to buy. The majority of respondents also think it’s a good time to sell, with 58% agreeing.

chart visualization

The survey results are interesting in relation to the current state of the housing market. According to data from Altos, inventory is up significantly all over the country, but home sales haven’t changed relative to last year. This dynamic started in early 2024 and has continued into the 2025 spring homebuying season.

Respondents to the survey may see that inventory is piling up and sales are largely holding steady year over year. In this case, it makes sense that the share of people who believe it’s a good time to sell a house has dropped — since they see there’s more competition among prospective home sellers.

The potential impact of Trump’s tariffs has not yet circulated through the economy or shown up in data in a substantial way as most of them were paused a week after they were announced. But other reports suggest that Americans are taking notice. 

Consumer confidence has dropped by a whopping 32% since January. And a survey from Redfin showed that 24% of respondents are canceling plans to make large purchases like homes, while another 32% are pausing their searches.

chart visualization

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Finance of America posts a profit, beats funded volume estimates in Q1 2025

In beating its estimates for funded loan volume — and by posting a profit — in the first quarter of 2025, reverse mortgage lender Finance of America (FOA) saw its volume improve by nearly one-third compared to numbers from Q4 2024. The company is maintaining a bullish outlook for business in the months ahead.

The company earned $13 million in adjusted net income in Q1 2025, which marked an improvement of $20 million from the same period last year.

the company also viewed the first quarter of the year as a “strategic turning point” for the FOA brand, according to CEO Graham Fleming.

Brand moves

“With the recent launch of our new ‘A Better Way with FOA’ campaign, we are redefining how reverse mortgages are understood, moving the product from the margins into the mainstream as a flexible, forward-looking financial planning tool for homeowners 55 and up,” Fleming said.

“Finance of America is setting the standard for how our industry communicates the role of reverse mortgages.”

Graham Fleming, CEO of Finance of America Companies.
Graham Fleming

Early last month, the company announced that it had engaged with a new creative agency. It launched the “Better Way” campaign a few weeks later.

But beyond product positioning, FOA remains focused on its product offerings, which currently include the reverse mortgage industry’s only closed-end second lien product, HomeSafe Second.

“[W]e continue to see the advantages of our product suite flexibility by offering a broader range of solutions,” Fleming said. “[Through] the ability to introduce new products to address emerging needs, we are able to better serve our customers. This approach allows our customers to access the most suitable products to support their individual needs and circumstances.”

FOA President Kristen Sieffert also addressed the new campaign, saying it marks a change in direction.

“This campaign marks a shift away from traditional celebrity endorsement toward storytelling that reflects real life goals and aspirations of today’s homeowners,” she said.

Ashley Smith, senior vice president of brand and communications at FOA, also recently touched on this sentiment when discussing broader industry outreach efforts with HousingWire’s Reverse Mortgage Daily (RMD) at last week’s National Reverse Mortgage Lenders Association (NRMLA) Western Regional Meeting in Irvine, California.

“The more we can normalize [reverse mortgages] and make [them] mainstream, the better it is going to be for this industry, this category and Finance of America,” Smith said at the event.

“Part of our growth strategy is to make home equity for retirement mainstream, so this is something that we truly believe in and think is important for the industry right now.”

Financial performance

Matt Engel, FOA’s chief financial officer, described the financial performance for the quarter as strong “across several key metrics,” including funded volume growth and “meaningful improvement” in GAAP net results.

Spreads did widen slightly during the quarter, but overall valuations were positive stemming from “declining base rates and stable home-price appreciation assumptions,” Engel said.

The company endured an adjusted net loss of $7 million in Q1 2024. One year later, this measure improved by $20 million, which Engel attributed to “higher volumes, a fully integrated business and disciplined expense management.”

While the company’s retirement solutions segment saw flat revenue margins in Q1 2025, the company’s wholesale lending channel exceeded expectations and allowed FOA to beat its overall investor guidance. Efficiencies in originations were also highlighted.

“We originated higher volumes with a more streamlined team, leading to an increase in loans per employee of 33% across our origination platform compared to the first quarter of 2024,” Engel said.

“We expect to continue to see this trend upward due to the scalability of our model and the benefit of our ongoing digital transformation.”

Maintaining growth projections

Engel described the company’s liquidity situation as “adequate,” adding that FOA maintains “healthy financing capacity” to support its growth projections.

Regarding these projections, the company is “reaffirming our full year guidance for both volume and earnings,” Engel said. This includes $2.4 billion to $2.7 billion in origination volume, along with $2.60 to $3 in adjusted earnings per share]. In the second quarter alone, it projects funded volume of $575 million to $600 million.

During the Q&A portion of the call, Fleming said that April 2025 “was actually our best submission and funded volume month in the last two years, so very strong volume in April.”

The stock market responded positively to FOA’s earnings report. As of 5 p.m. Eastern time on Wednesday, the company’s share price had jumped by more than 11% over the past 24 hours, and it has grown nearly 8% over the past 30 days.

“As the largest originator of reverse mortgages in the country, we believe we are well positioned to meet the moment,” Fleming said.

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Medieval castle turned fashion palace up for grabs

Chateau La Reve at 45 Blacks Road, Willow Vale

Fashion royalty, welcome home to your castle – a fairytale estate and favoured model haunt modelled on a French chateau.

The quirky European-inspired property at 45 Blacks Rd, Willow Vale spans 1.69ha of spectacular grounds in the Gold Coast Hinterland, and was built over 10 years by the original owners.

Known as Chateau La Reve — or “castle of dreams”, it is marketed by Kollosche agent Josh Finch and goes under the hammer on May 30.

Ornamental statues in the manicured ground

Live a life less ordinary

Mr Finch described the listing as, “an opportunity to live a life less ordinary among serene surrounds”, while remaining within easy reach of northern Gold Coast amenities.

Melissa Papa and her husband, David Cosgrove, purchased the unique estate for $4.2m in November 2023 and spent four months renovating before moving in.

While primarily a family home for the couple and their four children, the castle also served as a location for film productions and photo shoots, hosting popular brands including Beginning Boutique and Petal and Pup.

Shot on location at the Willow Vale estate. Pic: Supplied/Instagram

The castle hosted fashion brands and models along with bespoke events. Pic: Supplied/Instagram

Ms Papa said the family had previously lived on the South Coast of NSW, and moved to Willow Vale for its country charm.

“When we originally saw the property we both loved it and I loved the area – I mean, who doesn’t want to live in a castle?” Ms Papa said.

“But as we walked through, there were a lot of areas where it was not entirely our taste.

“We just pared back a little of the opulence in the house to create more of a luxe feel without the excess.”

The couple scrapped an old medieval-themed games room, stripped back white-painted wooden floors, and extended the poolside alfresco area with travertine tiling and a barbecue kitchen complete with pizza oven, wine fridge and beer taps.

The stunning kitchen with a butler’s pantry and wine cellar

The curved staircase crowned by a chandelier

Constructed from traditional stone, the main residence has four bedrooms with an open-plan kitchen, living, and dining space.

A soaring void crowns the interior, while architectural details such as intricate plaster mouldings, high-end marble, and vintage fixtures enhance the grandeur.

A curved wrought iron-trimmed staircase leads to the mezzanine level of the master bedroom, while other features include VJ panelling, wainscot walls, arched doorways, and sash windows.

The rest of the acreage includes outbuildings and natural features such as a dam, stables, paddocks, a commercial-grade workshop, and additional office space or guesthouse, offering potential income-generating opportunities.

Who doesn’t want to live in a castle? Pic: Supplied/Instagram

There’s a main residence and guesthouse with scenic surrounds

The stunning terraced pool

Ms Papa, who worked in fashion events and marketing, said she fell in love with the home’s incredible detail, and its potential as a high-end events space – an avenue which could be further developed by a new owner.

“There was so much beautiful detail that went into the build of the home, and you can see these little stories and moments all around in spaces which have been so thoughtfully created – the gazebo, the private courtyard, the cottage garden, and then the fish pond that runs down along the side of the house like a moat,” she said.

“I have an Italian background so long lunches are in my DNA. Now that we’ve put in the big bi-fold doors that flow into the barbecue area by the pool – the space just really works so well for our extended family,” Ms Papa said.

The property was originally built over 10 years and has been recently renovated

Luxury on a grand scale

Fit for a queen

She counted the central lounge area – now light and bright with stunning exposed beams and a fireplace – as a favourite spot to relax.

“Looking out to the view, especially at this time of year as it starts to cool off and you can light the fire as the sun goes down – golden hour is our all-time favourite,” she said.

PropTrack data shows house prices in Willow Vale were up 23.9 per cent to a median of $950,000.

The estate had been listed on a high-end location hire site, with hourly rates from $450 or weekday hire for $3,195.

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Zillow posts strong Q1, touts listing transparency and app traffic

Zillow reported a strong start to 2025, exceeding its first-quarter 2025 outlook with $598 million in revenue, up 13% year over year.

The company also posted $153 million in adjusted EBITDA and achieved GAAP profitability — driven by cost management and margin expansion, leaders said.

During an earnings call on Wednesday, CEO Jeremy Wacksman said the company remains on track to meet its full-year goals, including revenue growth in the low- to mid-teens and continued profitability.

“It’s been another excellent quarter,” Wacksman said. “Despite all the macro noise around us, we’ve kept our focus on executing our strategy, managing costs and expanding EBITDA margins.”

Pushing for listing transparency

Zillow continued to position itself as a leader in real estate transparency and a staunch supporter of the controversial Clear Cooperation Policy.

Wacksman promoted newly implemented listing standards designed to give all consumers equal access to information.

At the center of these standards is the principle that if a listing is publicly marketed to any buyer, it must be placed on a multiple listing service (MLS) and be able to be published on Zillow, as well as other sites that receive internet data exchange (IDX) feeds.

“Zillow was founded on that very principle — giving people fair and equal access to information so they can make informed choices,” Wacksman said.

“We recently rolled out listing standards that encourage the entire industry to formally implement what most already believed and were practicing — a listing marketed publicly to some buyers should be marketed online to all buyers.”

eXp Realty recently announced that it has agreed to follow Zillow’s standards.

“(The standards) help agents do their job effectively,” Wacksman said. “They can see the inventory and cooperate with each other. We announced those standards because we see such a consumer good in buyer and seller empowerment — and education and availability of content.

“We want to make sure that remains in our market, so our consumers, the professionals who work with us, the professionals who work with our competitors, and everyone who works in our industry can continue to do their jobs effectively.”

Mortgages and BuyAbility

The company’s mortgage revenue rose 32% year over year to $41 million as more customers paired Zillow Home Loans with the company’s Premier Agent offering.

Zillow reported that 70% of homebuyers using its financing service are also working with a Premier Agent, up from 60% a year earlier.

“We are increasingly confident in our work to integrate Premier Agent with our Zillow Home Loans offering,” Wacksman said.

Additionally, more than 1.5 million customers have now enrolled in Zillow’s BuyAbility tool, which lets buyers assess affordability in real time. In March alone, more than 360,000 customers joined the program, according to Wacksman.

Rentals revenue hits all-time high

Zillow’s rental segment saw 33% year-over-year growth, reaching a record $129 million in Q1 2025.

The company now hosts more than 2 million active rental listings, including 60,000 multifamily properties as of early May, up from 40,000 a year ago.

“Building on our momentum from 2024, we are seeing impressive growth in property listings and renter traffic as we scale our two-sided marketplace,” Wacksman said.

Zillow credited much of the revenue acceleration to multifamily property managers upgrading to higher-tier advertising subscriptions. According to Wacksman, multifamily rental revenue growth of 47% in Q1 2025 outpaced property count growth.

Strategic partnerships also played a key role, including a recently launched multifamily listing integration with Redfin, an ongoing distribution deal with Realtor.com, and a new collaboration with AppFolio.

The company said these partnerships will expand Zillow’s reach with renters and deliver higher returns on investment to advertisers.

Showcase fuels for-sale business

In the category of for-sale homes, Zillow generated $458 million in revenue from January through March, up 8% year over year.

The company highlighted growing traction with its artificial intelligence-powered Showcase product, which provides 3D home tours, interactive floor plans and enhanced branding for agents.

“Agents who use (Showcase) are winning 30% more listings than similar agents who don’t,” Wacksman said. “And Showcase listings sell faster and for more money — typically netting a 2% higher sales price than similar non-Showcase listings on Zillow, a bonus of more than $9,000 on a home sold at the average home sales price.”

Showcase is currently featured on about 2% of all new for-sale listings, with plans to grow that share to between 5% and 10% in the intermediate term, Wacksman added.

Zillow is expanding the product through both direct agent sales and brokerage agreements, including a new deal with HomeServices of America.

Consumer engagement, enhanced markets

In the first quarter, the Zillow platform averaged 227 million monthly unique users, with 80% of traffic arriving directly or organically.

Wacksman said Zillow’s app engagement is four times higher than its closest competitor in real estate and is used by two-thirds of the entire relevant audience.

Zillow also reported growing traction in its “enhanced markets,” where it offers a fully integrated “Super App” experience.

In Q1 2025, 24% of its consumer connections occurred in enhanced markets, up from 21% in Q4 2024. The company expects that figure to surpass 35% by the end of this year.

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South Yarra: Member of mega-wealthy Smorgon family, high-flying lawyer Amanda Smorgon, lists period house

3 Norman Ave, South Yarra - for herald sun real estate LEAVE ADDRESS OUT OF PUBLICATION

Lawyer and philanthropist Amanda Smorgon is selling her South Yarra house. Right picture: Josie Hayden.

Prolific lawyer and a member of the wealthy Smorgon family, Amanda Smorgon, has listed a Victorian-era South Yarra house with a $5m-$5.5m asking range.

The Melbourne-based Smorgon clan was previously headed by the late Victor Smorgon who took over his father’s and uncle’s butchery businesses in the 1930s before diversifying into areas including paper, plastics and steel.

Today, the family is one of Australia’s richest with an estimated combined wealth of more than $2.7bn.

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Ms Smorgon, the daughter of former Carlton president Graham Smorgon and his wife Annette, was formerly employed at law firm Minter Ellison including as a media lawyer where she worked on several high-profile cases.

She’s also a member of multiple philanthropic organisation’s leadership teams and started the networking group Young Carlton Professionals, which aims to get up-and-coming business leaders engaged with the Bombers, in 2012.

3 Norman Ave, South Yarra - for herald sun real estate LEAVE ADDRESS OUT OF PUBLICATION

Both the kitchen and bathrooms have been updated in recent years.

David Jones reimagined black tie event

Businessman Christo Van Egmond and Amanda Smorgon at a David Jones’ black tie event. Picture: Josie Hayden

3 Norman Ave, South Yarra - for herald sun real estate LEAVE ADDRESS OUT OF PUBLICATION

The home’s front door has a colourful stained glass in-set.

Marshall White Stonnington director Nicholas Brooks declined to comment on the four-bedroom home’s owner but public records show it belongs to Ms Smorgon.

“The first thing you notice is the stunning cul-de-sac location,” Mr Brooks said.

He said the street’s dozen or so residences are thought to have previously served as homes for workers from the circa-1847 Como House in South Yarra, originally owned by Supreme Court judge Sir Edward Eyre Williams and now held in the National Trust of Australia’s custodianship.

Period features such as an original fireplace in the main bedroom suite, the arched hallway and decorative ceilings feature in Ms Smorgon’s home.

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Floor-to-ceiling windows and a fireplace in the living area.

Australian Legends Stamps - Victor Smorgon.

The Australian Legends Stamps series, including Victor and Loti Smorgon, was issued in 2008. Mr Smorgon founded the Victor Smorgon Group, and along with his wife, was a philanthropist, arts patron and an Officer of the order of Australia.

3 Norman Ave, South Yarra - for herald sun real estate LEAVE ADDRESS OUT OF PUBLICATION

A marble fireplace in one of the four bedrooms.

The kitchen showcases Miele and Smeg appliances, a skylight, casual meals’ area and breakfast bar.

There’s also a formal dining room with a marble fireplace and an open-plan living and dining area.

French doors open to a backyard solar-heated pool, timber deck, outdoor kitchen, built-in barbecue and banquette seating.

“There’s not only the pool but you’ve got the really large deck and grassed area at the rear, it’s really good for families and a great retreat,” Mr Brooks said.

Buyers would likely include families wanting a leafy destination close to Melbourne’s CBD and downsizers, due to the abode being mostly single-level apart from the upstairs fifth bedroom and retreat, he added.

Expressions of interest close at 3pm on June 3.

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“Unrivalled, exclusive insights”: The conference real estate professionals swear by

Australasia’s biggest real estate event is returning to the Gold Coast on 25th and 26th May 2025, with a top lineup of property professionals and experts ready to share their experience and insights.

AREC 2025 is shaping up to be one for the history books with real estate professionals from across Australia and New Zealand meeting at the Gold Coast Convention and Exhibition Centre this month to share their knowledge and learn from leaders in the industry and beyond.

Headlined by Mauricio Umansky, one of the world’s leading figures in luxury real estate, the conference promises two days of panels and events designed to provide attendees with practical and tactical advice on a range of industry topics.

Celebrity agents share game-changing tips

This year’s agenda features a rare opportunity to learn from real estate star Umansky who is best known as the face of Netflix’s ‘Buying Beverly Hills’.

A regular on Bloomberg, CNBC and Fox News, Umansky is the Founder and CEO of US-based real estate powerhouse The Agency, a global real estate brokerage with 133 offices in 13 counties and over $88 billion in residential properties sales.

He has also represented some of the world’s most noteworthy properties, including the Walt Disney Estate and residences owned by Michael Jackson, Michael Jordan, and Prince.

Umansky’s keynote presentation will share his key insights into personal branding, building a high-performance team, managing client relationships and more.

Celebrity real estate agent Mauricio Umansky will present at AREC 2025.

AREC founder, John McGrath said Umansky’s attendance reflected the event’s growing global appeal.

“Mauricio is a powerhouse in the industry — not just for the deals he’s done, but for how he’s transformed real estate into a lifestyle brand,” McGrath said.

“He’s redefining what it means to be a modern agent, and we’re thrilled to bring his insights to the Australian and New Zealand markets.”

His expertise in international luxury real estate and negotiating with high-net-worth buyers will be accompanied by panels from some of Australia and New Zealand’s own top real estate professionals.

Josh Phegan, one of the industry’s preferred trainers and coaches for leading real estate agents, will present on how to achieve sustainable, long-term success in real estate and the power of strategy, tactics and measurements.

Also on the agenda is the Rising Stars Panel, featuring some of real estate’s next generation of high-performance professionals.

With insights from nationally recognised agents Monique Layoun, Tia Milne and Jordan Bulmer, attendees will be able to learn what drives this new class of industry leaders.

Real estate’s best and brightest will present their insights at the The Rising Stars Panel.

The heart of real estate

The range of panels and speakers are designed to push the industry forward, helping agents and property managers learn and evolve.

Speakers outside of the property sphere – including champion athletes, politicians and business leaders – will share their experiences to inspire attendees with new ways of thinking about management, collaboration and more.

AREC25 is also a perfect opportunity to meet and network with industry leaders and innovators, as well as top talent from across the region.

This is a unique chance to learn from the best of the best and see how real estate professionals from Australia and beyond approach their work.

The program will also dive into what makes customers tick, with realestate.com.au’s own Tobias Johnstone presenting to agents on what the latest data is revealing.

With over 17 years of experience across Australia’s largest publishing, media and tech brands, Johnstone will explore how his team turns rich behavioural data into actionable market insights and advanced products for agents.

With expert panels and insights, AREC 2025 promises to be an unmissable event for real estate professionals.

Actionable, practical takeaways

AREC 2025 is built around being as practical as possible, with panels that are about what actions agents and property managers can take to directly improve their business.

From panels on how to turn buyer hesitancy into buyer certainty to presentations on how to train the mind for peak performance, the programme is about transforming and evolving the way real estate professionals work.

To make the most of the conference, attendees can explore the full agenda now and see which panels will be most helpful for their professional development.

Now in its 26th year, AREC continues to draw real estate professionals from across Australasia, offering sessions on sales tactics, marketing innovation, prop tech trends, and personal development.

Registrations for AREC 2025 are open now and tickets are limited.

AREC is organised by Total Real Estate Training (TRET), for further information or registrations for AREC 2025 please visit www.arecconference.com or email tret@tret.com.au.

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