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TV star Mike Goldman’s stark warning after smoke alarms saved his life

Mike Goldman’s house fire has prompted him to make a stark warning to all Aussies and the government.

TV and radio personality Mike Goldman is calling for all state governments to adopt stricter smoke alarm laws after they saved his family’s life.

Goldman, who is the voice of Australian reality show’s Big Brother, and his family were asleep at 4am when a fire started in his Queensland family home.

Goldman, his wife, young son and dog were all unharmed thanks to the smoke alarms installed around his house alerting them to the blaze.

But his property was not spared, causing roughly $800,000-$1 million worth of damage and leaving the home completely unliveable.

Since the shocking event, Goldman is warning all Aussies to check their smoke alarms which he said “saved his life” and is calling for the federal government to make stricter regulations across the country.

The state of Mike Goldman’s family home after the fire.

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“It’s now law in Queensland to have smoke alarms in every room,” he said.

“It’s mind-blowing that the government don’t care and won’t make it law (in every state),” he said.

“I just do not understand, they should make it mandatory in every room … people are dying, I’m lucky.”

He also said cheap chargers from places like SHEIN or Temu aren’t up to Australian regulations and can also be a fire risk when charging.

Queensland has the strictest smoke detector requirements across the country, stating that there must be interconnected photoelectric smoke alarms in all hallways, bedrooms and each level, with a strict compliance for rentals since January 2022 as well.

Shockingly, smoke alarm requirements vary across states and Queensland was the only state that required them in every room and to be interconnected.

Goldman said the fact that the alarms were interconnected was vital in saving his family’s life.

“If they’re all going off, you know,” he added.

The fire was in the hallway, this is his sons room after the incident. Picture: Supplied

MORE: Every suburb listed: Aus’ in-demand areas

In NSW, Victoria, ACT, Tasmania and SA only one smoke alarm was required for each level of the home – they aren’t required in every room and don’t need to be connected.

In WA, on a level where bedrooms are separated at either end of the floorplan two smoke alarms are required and in the ACT they were required to be interconnected but only for new homes.

“Governments should subsidise it like they do with solar. With cost of living, families can’t afford new smoke alarms,” Goldman added.

The Cannon Hill fire department who Goldman says made it in “record time”.

The cause of the fire was investigated but officials were unable to determine what sparked the blaze, with Goldman warning it could happen to anyone.

“I went down a rabbit hole of how it started. We had forensic officers from the fire department and the police and all they could say was it was something to do with the fuse box,” he said.

“It’s ‘CHECKTEMBER’ now, so the number one thing is to check your smoke alarms.

Mike Goldman at wife Bianca Zouppas. Picture: Supplied

“From years of DJing and having headphones on for hours on end as a radio announcer or Big Brother or Meerkat Manor, my hearing isn’t the best. I’ve just found out I need hearing aids and there’s a certain frequency that I don’t hear when I’m asleep,” he said.

“The best ones for people that are hard of hearing and young children are 520 hertz.”

Goldman has now teamed up with Aussie Kidz charity and Queensland Watch Smoke Alarms to put $10,000 worth of smoke alarms into the homes of families who can’t afford it.

“It’s fact that families with lower-socio economic backgrounds that may not have the money to pay for smoke alarms are at a higher risk,” he said.

“The biggest reminder for everyone is check your smoke alarms. They saved our lives.”

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The post TV star Mike Goldman’s stark warning after smoke alarms saved his life appeared first on realestate.com.au.

September 18, 2025/0 Comments/by JKents
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$80m mega-mansion opportunity in Toorak

The 6340sq m Lansell Rd, Toorak property combines two houses and a tennis court that’s on the market by expressions of interest with price hopes of $80m to $88m.

Neighbouring Toorak properties being offered for sale in an $80-plus package deal provide a rare big opening in Melbourne’s most expensive suburb.

The Lansell Rd properties have been listed with a price guide from $80m to $88m, offering the opportunity for new owners to raze the homes and create a luxury compound to start afresh in one of the best addresses in Melbourne’s prestige market.

Records show the properties are owned by V-Leader managing director Andy Zhang and Miaomiao Zhang, who paid $17m for the larger 4367sq m property in 2015 and later splashed $22m for the neighbouring 1969sq m property in 2021.

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The property was originally acquired by the vendor with plans to build a dream home. However, having since secured an existing residence that better suited their vision, they are opting to divest the property.

The properties can be purchased individually or as a whole, but presents one of the most significant development opportunities in Toorak in recent years.

Kay & Burton managing director Ross Savas said it’s a rare landholding of exceptional scale and flexibility that’s unencumbered from heritage protections.

According to Landchecker, there are only two other properties of comparable size without heritage overlays in Toorak – at 31 Albany Rd and 29-31 St Georges Rd, which crypto king Ed Craven bought in 2022.

The 6340sq m Lansell Rd, Toorak property combines two houses and a tennis court that’s on the market by expressions of interest with price hopes of $80m to $88m.

“With two separate titles and more than 6340sq m at the pinnacle of Lansell Rd, this double allotment is exceptionally rare,” Mr Savas said.

“It invites a visionary buyer to create one of Toorak’s most significant private estates or explore a landmark residential development, subject to council approval.”

“Opportunities of this rarely exist in today’s market,” Mr Savas said.

“We expect strong interest both locally and internationally from those looking to design a generational single estate of unmatched presence, as well as developers seeking a prestige project in Melbourne’s premier address.”

The landholding provides unrivalled potential for a private estate, luxury compound, two grand homes or luxury multi-residential development.

Ed Craven set the benchmark in the neighbourhood when he snapped up Toorak’s “ghost mansion” in St Georges Rd for just over $80m in 2022.

A render of the Toorak mansion under construction for Ed Craven.

At about 7200sq m, the unfinished mansion was bulldozed and is being replaced with a $150m mega mansion.

Mr Craven’s ghost mansion purchase broke Melbourne’s residential price record in 2022.

But that sum has subsequently been trumped by the more than $100m sale of nearby mansion Coonac, by former Essendon Football Club president Paul Little and his Melbourne University chancellor wife Jane Hansen.

Toorak’s largest active listing in the Myer family’s Cranlana, where the 1.14ha property holds an eight-bedroom circa-1900 mansion with a Heritage Victoria-approved permit for a significant renovation and extension.

Kay & Burton’s Ross Savas, Nick Kenyon and Jamie Mi are managing the expressions of interest campaign, closing on October 25.


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The post $80m mega-mansion opportunity in Toorak appeared first on realestate.com.au.

September 18, 2025/0 Comments/by JKents
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How to bring your dream style to life without an interior designer 

From Hamptons elegance to farmhouse luxe, this tool can help you create your ideal home style with no interior designer required. 

When it comes to styling your home, whether new or established, the design possibilities are almost endless. 

But if you don’t have the budget for an interior designer, it can be overwhelming to figure out how to pull everything together.  

Metricon’s new lookbook will have 10 updated styles. Picture: Supplied

The good news? You can still achieve a polished look by tapping into a tool many Australian builders offer  – design lookbooks. 

Generally available as online style guides, these lookbooks showcase curated interior themes, complete with tips on finishes, textures, furniture and colour palettes.  

In many ways, they can act as your virtual interior designer by helping you bring a vision to life with confidence. 

Here are some lookbooks various home design experts offer with tips to style your home.  

Metricon  

One of Australia’s largest builders, Metricon, is refreshing its design lookbook, set to release in October 2025. It will feature 10 updated styles – each paired with real homes so you can see exactly how the look works in practice. 

The interactive guide allows you to explore different rooms and hover over points to reveal styling tips, such as suggested accessories and finishes. 

Metricon’s Palm Springs theme is inspired by the “golden era of Palm Springs design”. Picture: Supplied

For example, its Modern Contemporary style features clean lines, muted tones and tactile finishes to create an interior that feels timeless yet personal. 

Its Palm Springs design, inspired by the “golden era of Palm Springs design”, uses soft textures and a palette of sage, sand and natural timber for breezy, open spaces. 

Other styles in the refresh include Beach House, Mid-century, French Provincial, Japandi, Nordic, Coastal Luxe and Classic Hamptons. 

Coral Homes  

Coral Homes’ style guide offers a comprehensive approach with initial inspiration through to the finer details of execution. 

Its design pages feature distinctive themes, with colour palettes drawn from the ocean, sand and tropics. The guides specify paints, tile patterns and finishes – often with direct sourcing details – so you can replicate the look at home. 

Coral Homes’ Highlands 36 display home embodies the Modern Farmhouse style. Picture: realestate.com.au

The Modern Farmhouse theme features organic textures and earthy tones inspired by nature, as seen in the company’s Highlands 36 display home. Every room is styled to reflect the theme, with tips on everything from wall colours to furniture placement. 

This level of detail can help homebuyers not only choose a style but also execute it step by step. 

Fairmont Homes  

Fairmont Homes’ inspiration hub offers a broad collection of resources, including a lookbook that covers both interiors and exteriors. 

The guide is image-rich, showcasing kitchens, living areas, bathrooms, laundries, dining spaces, bedrooms and façades. Each style is supported by examples that highlight how to combine materials, colours and layouts for a cohesive finish. 

The inclusion of exterior ideas – from brick and cladding combinations to front door colours – makes it a useful tool for those wanting a consistent throughout entire home.  

Are you interested in learning more about home designs? Check out our New Homes section.  

The post How to bring your dream style to life without an interior designer  appeared first on realestate.com.au.

September 18, 2025/0 Comments/by JKents
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Is this Canberra’s best home? Jawdropping ‘HALO’ set to break property records

A complete rebuild of a tired, 1950s house in the one of Canberra’s most prestigious suburbs has set a new standard for architectural excellence that fuses timeless luxury with cutting-edge tech — and it’s just hit the market.

“We’ve never seen anything of this calibre hit the market in Canberra before,” said local agent, Josh Morrissey of Hive Property, of newly listed 29 Gawler Crescent, Deakin.

The architecturally designed HALO could be set to break Deakin’s price record. Picture: realestate.com.au

Nestled in the prestigious, tree-lined streets of Deakin — one of Canberra’s most desirable suburbs — and drawing its name from the large precast ‘halo’ on the second floor with the handpicked palm tree as a centrepiece for the home, HALO, has emerged from the site of a classic 1950s residence. 

Purchased by builder Ben Matthew in 2023, the seasoned property mogul worked with his friend and architect, Ben Walker, to create a sanctuary that was both technically advanced and deeply connected to its natural environment.

The home encapsulates a hand-selected 13-metre date palm. Picture: realestate.com.au

The result is a sculptural, three-level home that appears to float above its landscape on massive concrete datums, supported by striking stone blades.

A fusion of art and tech

Rewriting the rulebook for high-end homes, the stunning property unfolds as a series of meticulously crafted spaces. At its heart lies a vast, circular concrete void where a single, majestic 13-metre palm reaches for the sky, bringing the outdoors in with a dramatic flair. 

The five bedroom home sits on a sprawling 1,001sqm block. Picture: realestate.com.au

One of the property’s most compelling features is its kinetic facade. Composed of over 4,000 individual aluminium slats, this smart skin automatically adjusts to the sun’s position throughout the day, providing dynamic shading and a unique visual effect. It’s a testament to the home’s technological prowess and its commitment to energy efficiency, all without compromising on design. 

“The home also has Australia’s largest manufactured double glazed circular skylights throughout the home,” Mr Morrissey told realestate.com.au.

The home has more than 4,000 individual aluminium slats. Picture: Supplied

“This bathes the house in light, creating a feeling that you’re up in the sky. There is a rooftop terrace on top of the home with 360 panoramic views over the city, from Parliament House to the distant hills, which is another luxury first for a property of this calibre in the area.”

The luxe factor continues with a heated pool, spacious outdoor entertaining space and a kitchen suitable for both grand-scale entertaining and quiet family moments, dominated by a four-meter Tundra marble slab that serves as the centrepiece.

Indoor-outdoor living at its finest with pool, spa and alfresco spaces, plus a rooftop terrace with 360-degree views of the mountains and Inner South. Picture: realestate.com.au

A separate, fully equipped butler’s pantry ensures the main living area remains a pristine space for socialising. 

Painstaking attention to detail 

The duo — who already proved their house design prowess with a property in Carnegie Crescent, Narrabundah, which broke local records — have designed and built the residence Goldilocks-level fastidiousness and attention to detail.

Case in point:  search for the dry-stacked grey sandstone walls in the formal living room. Ben and Ben spent month after month sifting through stone samples to find just the right tone and grain, creating render after render, until they eventually found it in a Byron Bay quarry.

Striking sandstone feature walls were sourced from a Byron Bay quarry. Picture: realestate.com.au

It was then a matter of hiring a trucking company to do a 26-hour round trip with multiple trucks, hauling 60 tonnes of raw material back to Canberra, where it was broken up and carved by hand. 

“The effort that has gone into this project to achieve the vision of the owner has been next level,” said Mr Morrissey. “Their willingness to push the boundaries through design, quality and level of finishes has created a home that is years ahead of its time for Canberra.”

Seamless indoor-outdoor living. Picture: realestate.com.au

Given the depth of care and passion that has gone into the property, potential buyers might wonder exactly why Ben and his family have decided to leave prestigious pad so soon after its completion.

Turns out, a holiday in Queensland — coupled with a surprise viewing of a house in the Sunshine State — made the builder and his brood yearn for life in a warmer climate. 

A new standard for Canberra’s elite market 

Deakin is already one of Canberra’s most sought-after suburbs, with its leafy streets, proximity to the city, and historic homes. And with a median house price sitting at $1.8 million, it’s a market that typically attracts buyers with a keen eye for quality, and interest has already been strong. 

“We’ve had 345,000 digital impression so far across different channels and we’ve received overwhelmingly positive feedback through our pre-market private viewings.”

Located within one of Canberra’s most exclusive suburbs. Picture: Supplied

Given the increase in overseas interest in Australian prestige property, Mr Morrissey is confident that HALO has what it takes to both attract international buyers and to break the exisiting $9.2 million Deakin benchmark. 

“HALO his definitely in the league to attract strong international interest — indeed, we’ve already had interest through our network. The premium schooling options attract a lot of international interest for families to relocate and send their kids to school, plus there are vast business opportunities here. 

The home has five bedrooms and a study with coded joinery door. Picture: realestate.com.au
And three ultra-luxe bathrooms. Picture: realestate.com.au

“This would be such a hard home to replicate, and the time and cost and stress involved to achieve the finished product will definitely translate to the higher end of the price point for the suburb.” 

The post Is this Canberra’s best home? Jawdropping ‘HALO’ set to break property records appeared first on realestate.com.au.

September 18, 2025/0 Comments/by JKents
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Farming family list $14m beachside city-base for first time in 60 years

A rare piece of Perth’s western suburbs history has hit the market after being owned by the same family for almost six decades.

The landmark circa 1925 built property at 11 Pearse Street, Cottesloe occupies a prime 1181sqm landholding just 200 metres from Cottesloe Beach.

The property was bought by farmers in 1966 to establish a city base and prepare for their children’s high school education.

The Cottesloe property sits on prime land facing the golf course, just 200 metres from the beach. Picture: realestate.com.au

Seeking offers from $13.95 million, ‘Richon,’ named after a winery, has strong historical Cottesloe links according to sales agent Bev Heymans from Belle Property.

“The owners – that are deceased now – were Wheatbelt farmers. He married Fleur Harvey in 1939, she was the daughter of the longest running person on the Cottesloe Council,” Ms Heymans said.

The home has subdivision potential. Picture: realestate.com.au

The home – which has been held by the same family since 1966 – offers the potential to subdivide the lot into up to four blocks, or the new owners can build a new home, or renovate the existing four-bedroom, three-bathroom home.

“It is a pretty hot property, but if someone’s going to do a big renovation… you’re looking for someone who’s probably got a $20 million budget, so a slightly bigger budget,” Ms Heymans said.

“It’s just a beautiful property.”

The original Edwardian styled bungalow has 26 metres of north facing frontage onto Pearse Street. Picture: realestate.com.au
Hallmarks of the home’s heyday include a porthole window, leadlight windows, intricate mouldings, and a fireplace. Picture: realestate.com.au

The historical home is part of the Town of Cottesloe’s municipal inventory and its statement of significance notes that the residence is an example of the “predominant architecture in Cottesloe prior to WWI in a spacious setting”.

The 1181sqm block has subdivision approval for two blocks, and potential to split into three or four blocks. Picture: realestate.com.au

It notes that the Edwardian styled bungalow features Marseilles style terracotta tiles, a gabled roof and bay window, while turned veranda posts are embellished by fretted brackets and turned balusters.

Hallmarks of the home’s heyday include a porthole window, leadlight windows, intricate mouldings, and a fireplace.

The home has been in the same family for almost six decades. Picture: realestate.com.au

The home’s north-facing aspect and golf course views, wide verges and close proximity to the beach were among the property’s standout features, Ms Heymans said.

 “I’ve had good interest. Interest has been at this point, primarily more to develop,” she said.

“I personally love the whole house- it’s got the most magnificent setting.

“You’d have probably a handful of properties in Cottesloe that have that land size – you wouldn’t get another one in that location.”

The post Farming family list $14m beachside city-base for first time in 60 years appeared first on realestate.com.au.

September 18, 2025/0 Comments/by JKents
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When tariffs hit home

Last month, a federal appeals court ruled that many of the tariffs imposed under the International Emergency Economic Powers Act (IEEPA) were illegal. Gulp. The tariffs in question — sometimes called “reciprocal” tariffs — had raised import tax rates up to 50% on India and Brazil and as high as 145% on certain Chinese goods. As a result, American importers paid over $210 billion in these tariffs (as of late August 2025) that courts have deemed invalid. The appeals court stayed the decision to allow the Trump administration time to appeal to the Supreme Court, which it already has. If the Supreme Court declines to hear the case or upholds this decision, allow me to invoke the immortal words of Keith Jackson and state eloquently for the record: “Whoa, Nellie!” 

Let’s apply some context. In the 2009 case of Cobell v Salazar, in what was widely cited as the largest single financial settlement or judgment ever lost by the U.S. federal government, Uncle Sam settled to the tune of $3.4 billion for the mismanagement of American Indian trust funds. The Cobell loss ($3.4 billion) is a large expenditure, but in the context of the U.S. government’s overall budget, it’s a manageable hit. It’s roughly the cost of running the Department of Education or the Department of Veterans Affairs for a year. The potential tariff loss ($200 billion) is another bag of burritos. A loss of this size would be larger than the combined annual budgets of the Departments of Transportation, Homeland Security, Justice, and State. 

If the Trump administration loses the next legal fight over tariffs, our government could be on the hook to refund U.S. importers $200 billion (plus interest) in duties paid under the unlawful tariffs. This scenario would certainly necessitate the issuance of new Treasury debt to cover the refunds. New and unanticipated issuance of Treasury debt has the potential to cause bond prices to decline and yields to rise. Remember, we’re already flooding the market with Treasurys thanks to unprecedented government spending that has spanned decades and administrations across both sides of the aisle. The last President to enjoy a balanced budget was Clinton. That was the same year the iPod was introduced.

For those of us still fighting the good fight in housing, a sobering thought: more debt to repay unlawful tariffs certainly means higher borrowing costs. With mortgage bonds along for the ride, what happens to mortgage rates and, by extension, affordability? 

If the Supreme Court loss materializes, the U.S. government would have to issue a wave of new Treasury bonds to raise $200+ billion for the refunds. Basic economics of the bond market suggest that, all else equal, a significant increase in supply drives bond prices down and yields up (since investors will demand higher yields to absorb the extra debt). The 10-year Treasury yield, a key benchmark for government borrowing costs, would rise in response to this unexpected and massive financing need.

Notably, the mere possibility of these refunds has already moved markets. When investors returned from the Labor Day holiday and digested the appeals court ruling, U.S. stocks fell ~1% and longer-term Treasury yields jumped in response. Reuters reported that “longer-dated U.S. Treasury yields jumped, amid a global bonds selloff on fiscal worries” the day after the tariff decision. In other words, bond traders immediately grew concerned that the ruling would worsen the fiscal outlook and lead to more government borrowing. No bueno for bonds. No bueno for housing, builders, homebuyers, sellers, lenders, and real estate agents. 

The Federal Reserve would also face another tricky situation, as a refund of this magnitude is effectively fiscal stimulus, pouring kerosene on inflationary embers. This comes as the committee is likely to cut the Fed Funds Rate in just a few weeks and Powell’s term as Chairman enters its final phase. 

The Supreme Court is likely to consider the case at its “long conference” in late September. It’s during this conference that the justices decide which cases they will hear for the upcoming term. While there’s no guarantee the court will take the case, observers believe there’s a good chance it will, given the high-profile nature of the issue and the implications for presidential power. The current composition of the Supreme Court has a 6-3 conservative majority, with three of the justices—Neil Gorsuch, Brett Kavanaugh, and Amy Coney Barrett—having been appointed by the current President during his first term.

If the Supreme Court does decide to hear the case, it could issue a decision by next summer. Until such decision is reached, a new hurdle has been introduced in the effort to restore home affordability. 

Mark Milam is the CEO of Highland Mortgage.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners. To contact the editor responsible for this piece: zeb@hwmedia.com.

September 18, 2025/0 Comments/by JKents
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Disappointing housing permits show why we need 6% mortgage rates

Homebuilders in America are cheering, not because of the disappointing housing permit data released today, but because mortgage rates are near 6%. We have seen four consecutive months of job losses in residential construction labor, as mortgage rates have been elevated and builders’ inventory has been piling up.

chart visualization

Housing permits, which have been declining since early 2022, took another downturn today with the latest housing starts data. As I write this, we are approaching lower levels of permits than we saw during the COVID-19 recession. The question now is whether near-6% mortgage rates will stimulate homebuilding as they have in the past. The Federal Reserve is widely expected to cut the Fed funds rate today and we will be keeping an eye on how mortgage rates respond.

Housing permits

Building permits: Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,312,000. This is 3.7 percent below the revised July rate of 1,362,000 and is 11.1 percent below the August 2024 rate of 1,476,000. Single-family authorizations in August were at a rate of 856,000; this is 2.2 percent below the revised July figure of 875,000. Authorizations of units in buildings with five units or more were at a rate of 403,000 in August.

As you can see in the chart below, housing permits have been falling for many years now. In an economic expansion you would traditionally see housing permits rising and that hasn’t been the case for some time now. When the builders don’t issue permits, that means they’re less confident about selling the current housing stock in a timely and profitable manner.

chart visualization

Another issue now for the builders, unlike any other period in the last 14 years, is that their completed units are at concerningly high levels. In previous decades, they wouldn’t issue more housing permits unless they believed new home sales could grow.

chart visualization

In late 2022 when mortgage rates started to head down toward 6%, the builders’ confidence and permits picked up, but rates have kept rising to over 7%, which ruined any momentum for housing to grow. However, mortgage rates are now near 6% once again and perhaps we’ll see the Fed say they would like rates to stay this low now to help housing construction grow again. 

Yesterday, the builders’ confidence data looking out six months did perk up a bit. We must remember that smaller homebuilders can’t afford to pay down mortgages for lower rates, unlike the big, publicly traded homebuilders. Therefore these lower mortgage rates really help them.

chart visualization

Conclusion

Imagine if mortgage rates were still above 7% today — we would be looking at less homebuilding and more construction labor would be at risk. However, this is now the third time that mortgage rates have headed down to 6% since late 2022. This time, let’s hope they can stick around long enough to get housing construction going again.

September 18, 2025/0 Comments/by JKents
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Credit Union ONE acquires Icon Mortgage

Credit Union ONE announced on Tuesday that it has acquired Icon Mortgage. A press release confirmed that Michigan-based Credit Union ONE will retain all employees from Icon Mortgage, including senior leadership, and “intends to operate the company as a separate mortgage lending affiliate.”

The terms of the transaction were not disclosed. Credit Union ONE did not immediately respond to HousingWire‘s request for information about how large Icon’s team is. Modex says Icon currently has 41 producing loan officers.

“This acquisition takes our mortgage lending operations to a new level,” said Gary Moody, CEO of Credit Union ONE. “By bringing in Icon Mortgage, we’ve added an amazingly talented team of proven mortgage professionals and the capacity to deliver a truly exceptional mortgage experience for our members.”

“We are confident joining forces with Credit Union ONE is the beginning of something incredible. The growth opportunities this brings to our team, and our partner realtors, are remarkable. We will be busier than ever and expect to start hiring across the state to meet anticipated demand,” said Jeremy Hall, CEO of Icon Mortgage.

Credit Union ONE’s market area includes all of Michigan and six counties in northern Ohio. The acquisition will allow the credit union to accelerate plans to expand mortgage lending and support homeownership beyond the current communities it serves.

Icon Mortgage has a 20-plus-year history of high performance and adds significant experience and lending capacity to the credit union’s already successful mortgage lending team.

“Our strategic vision has been alignment of mortgage lending with our size and geographic reach. This acquisition positions us really well to expand market share and accelerate new membership growth. Together, we will deliver best-in-class mortgage solutions while continuing to prioritize the community-focused values that Credit Union ONE has stood for over 85 years,” said Tina Tracy, president and chief operating officer of Credit Union ONE.

Established in 2004, Icon Mortgage is licensed to do business in Michigan, Florida and Texas. According to Modex data, the company, listed as BLG Holdings, has a year-to-date production volume of $57.89 million. In 2024, the company originated $81.53 million.

“After a year of putting this transaction together, I am excited to put all our energy into building on our past successes with Credit Union ONE as a partner. They have an amazing history of strong performance and deep roots in the community. This is a transformative moment.” said Woody Holt, president of Icon Mortgage.

September 18, 2025/0 Comments/by JKents
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20 crucial questions for buying a new or pre-construction condo in NYC

When buying a newly built condo or one in the pre-construction phase in New York City, you’re inherently taking on some risk with an unknown and untested building. 

Valid concerns include whether the completed development will match the marketing materials that initially caught your eye, or if it will be finished by the projected move-in date. And what if there are problems with the construction? Will these become your own headaches?

The onus is on you to do your pre-purchase due diligence. For example, you can research the developer’s track record and see how their other buildings have turned out, assuming there are others. You must also pay close attention to the offering plan (and have an experienced NYC lawyer review it).


[Editor’s note: An earlier version of this post was published in September 2024. We are presenting it again with updated information for September 2025.]


Ultimately, when navigating the new-development or pre-construction market, it’s critical to know what questions to ask so you can make the most informed decision about your purchase. Proceed with caution. 

1. What’s the developer’s track record? 

Before closing on a deal, you’ll need to find out as much information as possible about the developer. Are they involved in any lawsuits? What other buildings have they completed? Have buyers generally been happy? 

Begin your research by looking up the sponsor—the legal entity building the condo, typically the developer—as well as the principals of the development firm, who will be listed in the offering plan. Then take a look at their past projects, either online or by visiting them in person. You can also request the names of contractors and subcontractors associated with your prospective building, as well as the property manager and other key staff members.

While the city’s online database is free to use, it is not geared toward the consumer and can be tricky to navigate. Check out Brick Underground’s step-by-step guide for help.

2. What’s in the offering plan?

Before a developer can start selling new condos, the New York State Attorney General’s Office must approve the offering plan, which describes the development in detail and is often hundreds of pages long. 

This document includes details on all aspects of the development, such as what materials the developers will use for the facade and how many trees they’ll plant on the grounds. The purpose of the plan is to protect buyers from surprises and hold the developer accountable, since buyers can complain to the attorney general or initiate a lawsuit if the developer doesn’t deliver as promised.

You can obtain a copy of the offering plan from the building’s sales office. Your attorney should review it carefully, looking for unusual provisions, costs, and other details an inexperienced eye (i.e. yours) might miss.

“There are certain things you should look at early on,” said Robert Braverman, a co-op and condo attorney at Braverman Greenspun. For example, the offering plan’s special risks section covers things like reserve-fund requirements and terms for purchasing a super’s unit.

Braverman added that you’ll also be able to find out if the developer has reserved the right not to sell some of the units, which could mean the building will become a hybrid rental/condo.

If a new condo building has slower sales, the sponsor is more likely to remain in control of the board for the maximum period allowed by the offering plan. Braverman said this could be five years or even longer.  

He encourages prospective purchasers to factor that into their decision and decide whether they want to live in a residential condominium managed and operated by a developer for the foreseeable future. Getting independent control of the board is an important step in a condo building’s structural and financial health. 

Daniel Bekteshi, a portfolio manager at the NYC property management firm Maxwell Kates, recommends that buyers carefully review the plan’s engineer’s report. Because the sponsor provides this report, some underlying issues may not be immediately apparent. That’s why it’s essential to have a knowledgeable broker and attorney review the report for potential red flags.

The offering plan also includes budgetary reports outlining the first year’s projected operating costs. “Often the sponsor will put a bare-bones budget in place showing attractive common charges,” Bekteshi explained. He advises buyers to ask questions about these figures, cautioning that in many cases the numbers are so understated that “common charges go up between 5 and 10 percent after years one and two.”

Another important factor is staffing. Bekteshi noted a growing trend in new developments where building employees are outsourced, with a live-out superintendent and third-party staffing agencies. “While this might look efficient on paper, it can negatively affect day-to-day operations and staff cohesion,” he said, adding that most emergencies tend to happen after hours.

“You want a skilled line-in resident manager in-house for these moments,” he emphasized.

3. What’s the outside date?

If the building is not completed by the scheduled date, you can usually get your security deposit back. This “outside date” will be laid out in the purchase agreement, but Debbie Zolan, an agent at Compass with new development experience, said it’s worth asking about it ahead of time. 

“Sometimes buyers can negotiate a slightly earlier outside date,” she noted.

4. Is the price negotiable? 

Condo developers typically avoid outright price reductions on apartments because they could hurt future sales. However, every deal is unique, and your leverage will depend on market conditions, the developer’s construction timetable, and the number of units that have already been sold. 

For example, you may have more negotiating power near the beginning or end of a project. During the pre-construction phase, the sponsor will want to get 15 percent of apartments under contract—the magic number at which the offering plan is declared effective by the attorney general and closings can legally begin. Likewise, as the completion date approaches, a sponsor may become eager to close the sales office and move on to the next project.

The best way to ask for a price cut is to come armed with information and comps to use as supporting evidence. The more educated you are, the better your chances of getting a lower bid accepted. 

5. Are there concessions?

Concessions are perks or bonuses that developers offer to buyers. Even if a developer refuses to lower prices, it sometimes provides inducements, including closing cost rebates, lower common charges, free storage or parking spaces, and coverage of transfer taxes, the mansion tax, and mortgage recording taxes. You may also want to ask the seller to buy down your mortgage rate. 

It never hurts to ask; read Brick’s guide to negotiating price, concession, and other terms for brand-new condos. 

Top 5 key questions to ask
1. How is the developer’s track record? Research the developer’s past projects, find out if buyers have been generally happy, and whether the developer is involved in any lawsuits.
2. What’s in the offering plan?

The offering plan has details on all aspects of development inside and out to prevent any unwanted surprises later.

3. When is the outside date?

If the building isn’t completed by its scheduled date, you can usually get your down payment back.

4. Is the price negotiable?

Condo developers typically avoid outright price reductions, but you may have more leverage at the beginning or end of a project.

5. Are concessions available?

Concessions can save buyers thousands of dollars on closing costs, or amenities like free storage or parking spaces.

6. Are there additional closing costs?

Sometimes developers will pass on unexpected extra expenses to buyers, including part of the cost of the super’s apartment. That expense, which can be well into the thousands of dollars, tends to come as a shock to buyers, according to Zolan.

Other potential surprises could be the building’s insurance costs for its first year, and attorneys’ fees for preparing and filing the offering plan—which will list all these extra costs. Read the fine print so you know exactly what you are going to be on the hook for.

Know, too, that you will need to put down a deposit—typically 10 percent of the purchase price—when signing the contract (as with all sales). You may be able to negotiate the amount depending on market conditions and whether you are an early buyer.

7. What are the amenities?

In an effort to lure buyers, many developers pack their projects with over-the-top amenities. If your heart is set on that doggie spa or golf simulator, go for it—just remember you’ll be paying for it in the form of monthly common charges.

Adam Rolston, a designer and architect who worked on projects like The Vanderwater and The Sutton for Toll Brothers, said the amenities in some buildings require high staffing levels that can drive up your monthly costs. “I think that’s an important question to ask—what is the effect of these highly amenitized buildings on the common charges?” he said.

Also, keep in mind that developers tend to lowball the ongoing costs of amenities in their offering plans. Once the first year is up and reality sets in—and building management realizes that they may need more pet wellness experts—expenses tend to go up, taking common charges with them.

8. What does the model apartment look like?

For buildings that are still under construction, developers often create off-site sales offices that feature sample bathrooms, kitchens, and other rooms to give you a sense of finishes, appliances, and bathroom fixtures. When the building is nearing completion, they’ll often dress up one or more of the units as a model apartment to show you a version of the finished product. 

Bring your A-game when checking out the details. Does the kitchen have soft-closing drawers? Are the cabinet doors level and equipped with sturdy hinges? Are the grout lines on the tile backsplash even? 

Keep in mind the model unit will likely not have the same layout as yours. Ask the listing agents for specifics on how your kitchen or bathrooms, for example, may differ.

In addition, avoid being persuaded by the staged furnishings and artwork. Picture instead how the unit will look without all those designer-chosen distractions. 

9. What will the view be like? 

Beware of jaw-dropping vistas offered in model apartments, too. The sightline from your chosen unit could be decidedly different. Rolston said high-end developments are now using drone photography to give buyers an accurate idea.  

“You should ask for that, and if it’s not available, ask for a hard hat tour,” he said. “There’s nothing like standing in the space, even if it is a raw concrete space, and looking at the view.”

10. Does the design fit my lifestyle? 

If you rarely cook, a small kitchen with limited cabinet space may be just the kind of sleek, space-saving layout you’re after. For an epicurean family of five, look for thoughtful conveniences like a pull-out trash and recycling station, as well as enough drawers for all your supplies.

Standard new constructions have concrete ceilings, making it difficult to change the overhead lighting. If it’s something you feel strongly about, it might involve installing a dropped ceiling or needing to swag a plug-in model.  

Rolston said one small detail he loves to include in his designs is a light switch right near the entrance, so when you walk into the apartment, you can easily adjust the lighting, say by turning on a lamp in the corner from the main switch by the door. Smart lighting systems are also convenient, and something many high-end developments are offering these days. 

11. If there’s a tax break, when does it expire?

Some new condo buildings benefit from tax abatements—which, for the buyer, means a lower monthly property tax bill for a certain period of time—typically 10 (especially in Manhattan), 15, or 25 years. This kind of perk is often described in the marketing materials; if not, the sales manager won’t hesitate to let you know about it.

The real question to ask is how much you’ll be paying in taxes when the abatements gradually phase out. Depending on how long you plan to stay, the taxes can impact the resale value. And note: Tax abatements don’t go into effect until the first closing in the building.

12. Can I get a mortgage? 

It’s not impossible to get a loan when buying in a new development, but it can be a bit trickier than getting one for an existing building. Banks are wary of lending to buyers in under-construction buildings because of Fannie Mae guidelines, unless the building meets certain minimums for owner-occupied units, among other requirements.

Some banks do not offer new condominium financing until the building has a two-year history of owners paying common charges and is 51 percent sold.

Luckily, NYC developers deal with this all the time, usually by teaming up with a preferred lender who lines up mortgages until the building meets Fannie Mae’s specifications and stays on afterward.

On average, mortgage rates for new developments aren’t any higher than for existing apartments. That said, if you buy when the building is only 25 percent sold, your rate will reflect that risk and typically be slightly higher than if you buy when it’s 50 percent sold. That excess cost is usually balanced out by getting a lower price on your apartment—and you can always refinance in the future. 

As for getting approved, it can often be quicker and more straightforward than getting a loan for an existing apartment because the bank has already approved the building. To see if you qualify, get in touch with the preferred lender directly. 

13. When can I move in?

In a new development, it could be 12 to 18 months before the building is ready to close and you can move in. Although the sponsor can give you a target date, even the most experienced developer who runs on schedule can hit delays that are beyond their control.

If you expect to close on the building’s target closing date, it’s worth having a backup plan so you don’t move out of your old place before the new place is ready. You could also try to negotiate a drop-dead date by which you’d be entitled to cancel your contract and get your money back if the unit isn’t ready.

Be sure to stay in touch with the listing agent and regularly check on the status. You’ll also be notified when you are 30 days away from closing.

14. Will the building have commercial space?

Mixed-use buildings, which combine residential apartments with offices, hotels, stores, or restaurants, are common in NYC. Find out your developer’s plans for any space set aside for commercial use so you don’t get stuck with something noisy, smelly, or otherwise unpleasant.

In some cases, the developer might use the space for a gym or grocery store, which may feel like another amenity. But it’s just as possible that you could get stuck with a fast-food restaurant or a loud nightclub. 

If commercial space is in the picture, be sure to find out whether the building’s finances are dependent on its ground-floor retail. A small percentage (less than the typical 10 to 15 percent) is less to be concerned about, since most of the building’s costs will be covered by common charges.

15. What’s the neighborhood like?

Explore the area around the building. Are there empty lots? “If so, there will likely be construction, and you need to think about how that will affect your quality of life and, also, your resale value,” Braverman said.

This may be even more of an issue in neighborhoods that are gentrifying. Do your homework and walk around the project at different times to get a feel for the area, what’s happening, who’s there, and what businesses might be moving in. 

Ask the sales office staff as many questions as possible about the neighbors. Who lives next door? Is it the owner of the house or a renter? Are there conveniences like dry cleaners and supermarkets close by?

16. What’s the source of heat and air conditioning?

Ventilation systems can have aesthetic or practical drawbacks you should be aware of.

On the lower end of the scale are PTAC units. Some of these can be attractive and even efficient, while others can be noisy; make sure you turn them on to see how you feel about the sound level. They also take up space below a window, so account for that when you are planning where your furniture goes.

Mini-split systems are typically quieter and more efficient, and their placement can permit larger windows. Some systems, known as heat pumps, provide both heating and cooling. In super-luxury buildings, you may have even more true ducted central air systems with very sleek vents and possibly humidity controls to protect your artwork.

Similarly, if you prefer radiators over forced hot air, be sure to ask about it.

17. What about soundproofing?

This can be a little bit trickier to check in an empty building, and impossible in one that’s not yet completed. The only solution then is to ask what kind of soundproofing is being installed. Also, inquire about the plan for sound reduction between apartments.

If you’re buying in a completed building, find out if anyone has moved into the apartment above. If so, spend time listening for footfalls. If not, have someone walk around there and see if you can hear anything. Do the same for adjoining units. 

You can also ask about how many panes of glass the windows will have—triple-pane windows are considered the best for soundproofing, ensuring street noise stays outside.

18. What’s the experience of residents so far?

If people have already started moving in, their input can be invaluable. It’s helpful to find someone who has used the kitchen appliances, turned on the shower, lived through a heavy rainstorm, experienced the on-site amenities, and dealt with the building staff. 

You can absolutely ask the super if owners have been complaining about anything in particular. Certain red flags might indicate structural issues, including leaks through the heating/cooling systems and windows, ventilation problems, and mechanical noises or pumping sounds.

19. Can I rent out my place?

Developers sometimes prohibit renting out a unit for up to a year after closing. Others limit the use of amenities to owners only. Double-check the building’s policy if you might be in a position to sublet at any point. 

There might be building-imposed limitations on short-term rentals, too, such as restrictions or fees aimed at dissuading owners from putting their apartments on Airbnb or similar platforms. (You’ll also want to stay on the right side of the law by knowing the rules in NYC.)

20. Are there any special restrictions?

Some buildings will specify that you can’t sell your apartment within a certain amount of time to discourage flippers who may end up competing with the sponsor for unsold units. Ask the listing agent if any rules like this are in effect.

—Earlier versions of this article contained reporting and writing by Lucy Cohen Blatter, Mimi O’Connor, and Emily Myers. 

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September 18, 2025/0 Comments/by JKents
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American Senior Lending launches EquitySelect solution for retirees

American Senior Lending, a national home equity solutions company, on Wednesday launched EquitySelect, a first-lien home equity loan designed to give retirees more financial flexibility.

The nonrecourse loan — meaning that borrowers and their heirs will never owe more than the home is worth — lets borrowers choose their monthly payments, with options as low as 1% annually, and caps lifetime monthly payments so they never exceed a set amount.

Qualification is based on the lifetime cap, resulting in lower monthly payments when determining the debt-to-income ratio (DTI).

“Today’s financial challenges in retirement require reimagined financial solutions built on choice and innovation. We reimagined asset-based lending using home equity. We spent several years designing this product and building a web-calc to provide customized quotes within seconds,” said David Peskin, president and CEO of American Senior Lending. 

“Whether a homeowner is looking to consolidate debt, access the equity in their home for everyday needs, or the need to renovate an aging home, EquitySelect is redefining retirement home lending with a flexible, tailored, and affordable way to create financial flexibility.”

The product — available only in first position on primary residences that have tappable equity — carries no annual fees, no prepayment penalty and a fixed 40-year term with a protected line of credit. A second-lien version is in development, the company’s press release stated.

A pilot program showed that a 75-year-old borrower qualified for a $300,000 EquitySelect loan, drawing $150,000 at closing. The initial monthly payment was $126 and will not rise above $391 during the 40-year term, even after tapping the remaining balance, until the final balloon payment is due.

“EquitySelect is about giving homeowners more choice after being forced into an ‘either-or’ box for too long,” said Eric Ellsworth, executive vice president of sales at American Senior Lending. 

“EquitySelect breaks that mold by combining desired features of existing mortgage products into one flexible, highly tailored financial solution. Feedback from our pilot broker partners confirms what we’ve long known: consumers want a more flexible way to access their equity.”

The average U.S. mortgage holder now has about $307,000 in home equity, according to a Cotality report released last week. That marks a sharp increase since the start of the COVID-19 pandemic, with national equity levels reaching $17.5 trillion.

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