Fighting crowds for a beach car park will be a distant memory for buyers in Torquay who’ve unlocked the ability to kayak and walk to the surf from their new back gate.

Having all their ducks in the row gave the purchasers of 34 Spring Valley Drive the edge when wrapping up the quick sale of the multi-level, four-bedroom home on the banks of Spring Creek.

Natural Real Estate listing agent Shaun O’Callaghan said the secluded 898sq m sanctuary sold for an undisclosed sum “well within” the $2.39m to $2.5m asking range.

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A 14m lap pool, garden terraces and elevated decks nestled among the tree canopy are highlights of the tiered property.

“We probably had eight standout inquiries. There was the main buyer, who was successful and a couple of other parties who were just not quite as advanced,” Mr O’Callaghan said.

“In the current market there can be some people can be tied up with other real estate that they’re needing to release.”

The vendors, builder turned structural engineer Andrew Cherubin and his wife Linda, designed the house to take advantage of its beautiful natural surrounds and northern orientation.

Chinese doors believed to be more than 100 years old were the starting point for the solar passive design showcasing large expanses of glass, multiple living zones and a self-contained guest suite.

The couple poured concrete panels lining a central hallway themselves to create a striking thermal wall that’s lit up at night and designed the garden around an original gum tree from the former farm on the site.

Mr O’Callaghan said the property struck a great balance between privacy and being close to the action.

Mrs Cherubin said it only took about eight minutes to walk to Torquay beach along Spring Creek.

“The location was what captured my imagination straight up because it backs onto Spring Creek, which has a beautiful walkway and in all the years we have been here it has completely lived up to expectations for liveability,” she said.

The post Spring Creek frontage helps Torquay sellers seal quick deal appeared first on realestate.com.au.

A new bill introduced in the Ohio Senate would create a grant program to help older and disabled homeowners cover the cost of their property taxes, mortgages and essential household bills.

Senate Bill 255 — dubbed the “Save the Dream Ohio” program — would allow qualifying homeowners to apply for up to $3,000 per year in grants to help cover monthly housing costs as well as a wide range of utilities and fees.

The assistance could be used for basics like gas, electricity, water, trash removal and internet, as well as property taxes, insurance premiums and homeowners association fees.

To qualify, applicants must live in Ohio, own their home and meet two requirements:

• Have an adjusted gross income of $75,000 or less in their most recent tax year.
• Be at least 65 years old, living with a disability or caring for someone with a disability.

The program would be run by the Ohio Housing Finance Agency, which could use up to $10 million of its available funds to administer the grants.

Lawmakers wrote the bill so that the grants would not be subject to the agency’s usual income limits, making the program accessible to more residents.

Eligible homeowners may apply for multiple grants during the year — but the total amount they receive must not exceed $3,000 annually.

If passed, the housing finance agency would also be required to adopt rules to determine how residents can apply and how disabilities or caregiving responsibilities will be verified.

Recent efforts to abolish property taxes in Ohio have been met with opposition due to apprehension toward state funding replacement plans for municipalities and public schools — as well as possible destabilization of local emergency services.

More and more retiring Aussies are trading in their homes and mortgages for life in a caravan but if you are looking at making the leap there are some key things you should know, according to experts.

The caravan sector is in the middle of a growth boom as cost of living pressures and the housing crisis force people to think outside the box for their living arrangements.

Many Aussies are leaning into caravan/motorhome culture as they give up their traditional brick-and-mortar homes to live life out on the road.

The move enables people to avoid rent or mortgage payments, as well as traditional utilities, while also seeing the country.

Baby Boomers are the biggest demographic taking up a caravan lifestyle.

Termed ‘grey nomads’, this group of retired Australians is continuing to grow, meaning more and more caravans and motorhomes are hitting streets across the country.

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But anyone investigating caravans, which can start from about $25,000 brand new, should be aware of what to look for.

The Affordable Caravans – Service & Repairs Facebook page said external sealing of caravans is the first thing buyers should get checked out.

“As we always do, we check around the whole caravan looking over things and trying to find anything else,” Affordable Caravans owner Luke Weber said.

“We got a vertical J-mould with a join right in the middle. It’s not written on any sort of paper that there shouldn’t be but you will never find a reputable builder or reputable repairer have a vertical joint on a J-mould so you’re just asking for a water leak.

“It’s a dead giveaway someone has done a dodgy repair so if you’re ever looing at buying a caravan go get it checked out by somebody.”

J-moulds are strips of plastic or aluminium trim used to seal external edges on caravans to ensure they remain waterproof.

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Shaped like the letter ‘j’, J-moulds that are not installed properly can lead to extensive water leaks and damage.

Figures from the Australian Bureau of Statistics and Tourism Research Australia indicate there are more than 9.5 million Australians over the age of 50 and many of that cohort are taking up caravan and motorhome lifestyles.

Perhaps not a great thing for Aussie roads, the uptake of a caravan lifestyle could have a positive impact on the nation’s housing crisis.

Almost 70 per cent of empty nester households have no intention of downsizing and freeing up larger homes for younger families.

Extraordinary figures from Australian Seniors surveys shows just 19 per cent of empty nesters in Australia have already moved into a smaller property after their children moved out, while a further 13 per cent are considering it.

It is believed having those retirees downsize (or hit the road) would unlock almost 60,000 homes across Australia.

The post Why swapping your home for a caravan could be risky appeared first on realestate.com.au.

Australia’s property market is hiding a secret, and it’s about to turn everything you thought you knew about real estate investment on its head.

While the masses chase prestige postcodes and CBD proximity, a quiet revolution is unfolding in “undercover” markets, delivering eye-watering capital growth that will leave traditional investors scratching their heads.

This is the explosive claim from Terry Ryder, a veteran real estate researcher and director of Hotspotting.

“Some of the oldest, and most inaccurate, beliefs about prices refuse to die,” Mr Ryder writes in his upcoming book.

He argues that the property market is rife with “furphies” – misconceptions that steer investors away from the true growth engines.

These include the long-held beliefs that capital cities always outperform regions, that the biggest cities guarantee the best growth, that proximity to the CBD is paramount, that prime up-market suburbs offer superior price uplift, and that houses consistently grow faster than apartments.

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“These are all classic pieces of misinformation because research ridicules all of them,” he said.

“However you look at them, the statistics show that cheap outperforms expensive, which means in simple terms that the smaller cities, the outer-ring areas of our biggest cities, regional locations and, more recently, attached dwellings.

“Many may aspire to live in Toorak or Bondi Beach, but that doesn’t translate into high demand because most can’t afford the multimillion-dollar price tags. The bulk of buyer demand goes to the more affordable areas.”

New research from Hotspotting corroborates this perspective, revealing that over the past five years, the most impressive capital growth has been concentrated in Queensland, South Australia, and Western Australia, with ten “undercover” regions emerging as top performers. “However, many buyers have been fixated on Brisbane and Perth as well as more blue-chip suburbs in Adelaide and have missed out on achieving superior results because of it,” Mr Ryder said.

“All of these areas are affordable, with some classified as stigmatised because of the demographics of the people who live there, crime rates, or the region is prone to particular weather events like floods.

“But the results have been extraordinary for buyers who sought out these undercover regions because they understood their market fundamentals and looked past outdated real estate investment tropes.”

Mr Ryder also argues that when making purchasing decisions, many buyers become fixed on irrelevant factors such as income levels, social housing ratios, or the proportion of homeowners versus investors in a suburb.

“One of the great furphies in real estate is that areas with above-average crime rates are bad places to invest,” he asserted.

“Many investors fixate on this and they will reject any location they perceive as being down-market, stigmatised or having high crime.”

Mr Ryder dismisses this as “wobbly thinking,” suggesting it’s a case of “real estate snobs trying to justify an attitude.”

He points to stigmatised suburbs like Wiley Park in Sydney and Inala and Deception Bay in Greater Brisbane, all of which have generated robust capital growth over the past five years. “The reasons why property values rise have little to do with prestige or timeless quality, or proximity to the CBD or swimming pools. It’s not about the best streets in the best suburbs. Instead, Mr Ryder champions the performance of more affordable areas, describing it as a “win-win-win situation for buyers at the affordable end of the market – cheaper prices, higher rental yields and superior capital growth.”

Australia’s Top 10 “undercover” growth areas

Bundaberg, QLD

Mr Ryder highlighted Bundaberg’s exceptional performance, stating: “Bundaberg has 18 markets with 15 per cent-plus capital growth averages, the same number as the much larger Gold Coast City. Two of them averaged above 20 per cent a year.”

Fraser Coast, QLD

The Fraser Coast has also demonstrated significant growth.

“The Fraser Coast has 17 markets with 15 per cent-plus capital growth averages, compared to seven on the Sunshine Coast, including Maryborough, which suffers regular Mary River floods but has averaged 18 per cent per year,” he said.

Geraldton, WA

In Western Australia, the more affordable suburbs of Geraldton have seen rapid appreciation from a low base. Mr Ryder noted: “The cheap down-market suburbs of Geraldton have risen fast from a low base, with Spalding averaging 24 per cent, Utakarra 25 per cent and Rangeway 38 per cent per year.”

Gympie, QLD

Despite its history of floods and being previously stigmatised, Gympie has proven to be a strong performer.

“Gympie has been stigmatised as a problem town, but all its suburbs have averaged 16 per cent to 18 per cent a year over the past five years – despite a history of floods,” Ryder said.

Kwinana, WA

Kwinana, identified as the most affordable precinct in Greater Perth, has seen all its suburbs excel.

“The cheapest and most down-market precinct in Greater Perth, but all of its suburbs have excelled, including five averaging above 20 per cent per year,” Mr Ryder confirmed.

Lockyer Valley, QLD

This cluster of lesser-known towns between Ipswich and Toowoomba, spearheaded by Gatton, has outperformed expectations. Mr Ryder added that the neighbouring Somerset LGA also boasts high achievers such as Esk and Kilcoy.

Murray Bridge, SA

“Hardly anyone outside SA would know of this town, but it has averaged 18 per cent per year over the past five years,” Mr Ryder revealed, showcasing the quiet strength of this South Australian locale.

Playford, SA

Arguably one of the most affordable and stigmatised locations in capital-city Australia, Playford has delivered remarkable results.

“15 Playford suburbs have topped 15 per cent per year, with nine of them above 20 per cent per year. Seven of the Elizabeth suburbs topped 15 per cent. The neighbouring Salisbury LGA also has 15 markets on the list of high achievers,” he detailed.

Port Pirie, SA

This South Australian town has become a magnet for investors seeking affordable housing and high rental yields.

“Risdon Park has averaged 21 per cent and Solomontown 24 per cent a year,” Mr Ryder stated.

South Burnett, QLD

The towns of Kingaroy, Nanango, and Murgon within the South Burnett region have all demonstrated excellent five-year growth, with strong results continuing.

The post Hidden property hotspots revealed: Australia’s secret growth suburbs appeared first on realestate.com.au.

After over a decade in the industry, real estate brokerage Compass has amassed its fair share of critics and supporters. While industry leaders may have differing opinions on the Robert Reffkin-helmed firm, most seem to agree that Compass’s deal to acquire Anywhere Real Estate is impressive.

“Congrats to Robert Reffkin,” Anthony Lamacchia, the broker-owner of Lamacchia Realty, said in a video posted on Instagram. “Have to give credit where credit is due. I am impressed.” 

Keith Robertson, the co-CEO of NextHome, also weighed in, writing in his Crazy Uncle Keith newsletter that the move was a “bold swing.”

“Hats off to Robert Reffkin and the Compass crew,” he wrote. “The kind of move that takes guts when everyone else is playing it safe.”

But despite these feelings, many real estate professionals are concerned about what this merger, which brings together the nation’s top brokerage by sales volume and second-best brokerage by transaction side count to create a firm with over 300,000 agents worldwide, may mean for listing access. 

Compass’ exclusive listing inventory

Over the past year, despite industry pushback, Compass has worked to grow its network of exclusive listing inventory. In acquiring Anywhere’s owned brokerage operation, as well as its franchise network, Compass now has the ability to create a vast portfolio of exclusive listings in many of the nation’s largest housing markets. This has led many industry experts to believe that Compass is putting itself in a position to remake access to real estate data, potentially challenging the stronghold MLSs have over listing data.

MLS executives, including industry veteran and San Diego MLS CEO Saul Klein deemed this news a “big deal” for MLSs, associations and other brokerages.

Mike DelPrete, a real estate industry technology strategist shared a similar take on LinkedIn. 

“In 10 years time, what I think this deal will be known for — the leverage it now gives Compass in its ongoing push for exclusive inventory, but really its challenge to the existing MLS, National Association of Realtors (NAR), and Zillow hegemony. Game on,” DelPrete wrote.

As the managing broker of a small brokerage in Wellesley, Massachusetts, Chip Stella has some concerns as to how a larger book of Compass exclusive inventory could impact his business. 

“As a business owner it hurts me as I don’t have access to that inventory for my buyer clients,” Stella, the managing broker of Rutledge Properties, said. “It also hurts Compass’s sellers. My firm is the number two brokerage in Wellesley, and if my agents aren’t able to find these listings they aren’t bringing their buyers to see them. It will hurt consumers all around.” 

In order to compete with this, Steve Murray, the co-founder of RealTrends Consulting, postulates that small and medium-sized brokerages may begin to form networks in order to share exclusive listing among themselves. 

The resistance to Compass’s private exclusive model ‘is dead’

Despite this possible work-around for smaller independents, other industry players are not optimistic about what this deal means. 

“Anywhere spent years resisting Compass’s private exclusives model. That resistance is dead. Now the world’s largest brokerage can lock up inventory, shut out competition, and choke transparency,” Greg Sher, the managing director of NFM Lending, wrote on LinkedIn. “Consumers lose choice. Small firms get crushed. This isn’t a victory for innovation. It’s consolidation by survival. And in this business, when Wall Street wins, transparency dies…..and agents pay the price.”

Sher isn’t the only one who believes this deal will have negative consequences for agents. 

Mario Deniz, the broker-owner of Deniz Realty Partners, a Florida-based independent brokerage, says that fewer brokerages in the marketplace will give agents less leverage on splits and fees.

“The real question: Will this merger create opportunity for agents, or just make it easier to squeeze them?” Deniz wrote in a LinkedIn post.

But while the news may have taken many by surprise, Ryan Serhant, the founder and CEO of SERHANT., was not one of them. 

“​​This is another example of what happens in mature industries. When innovation slows, consolidation grows. That is a standard corporate strategy, right? But real estate brokerage isn’t a commodity marketplace,” Serhant said in an Instagram post. “Large scale roll-ups, can prioritize scale, cost synergy, quarterly narratives for Wall Street, those can be perfectly valid corporate goals, but for agents and clients, scale does not automatically equal better outcomes. Consolidation doesn’t automatically equal innovation.”