Latest news with #JohnRombotis
News.com.au
21-05-2025
- Business
- News.com.au
Melb family reveal move back in with mum, plan to use RBA rate cut to help upgrade their home
An interest-rate cut this week is set to bring relief to thousands of Melbourne households struggling with mortgages. But for Mentone's Wallace family a cheaper rate on their loan is the signal to ramp up their savings as they plan to upgrade from their first home, bought in 2016. Noelle and Matthew Wallace are currently selling the 5/35 Como Pde East, Mentone, home where they have been raising daughter Mia, 3, and have moved back in with Mr Wallace's mother to maximise their chance to save once they don't have a mortgage. Victorian budget panned as a 'kick in the guts' to first-home buyers It's a rare, but effective move that should also help ensure buyers can inspect the property more conveniently — and will hopefully help them make a six-figure upgrade to their home. The family bought the home in 2016 and the unusual inclusion of a back yard had helped make the apartment a great space to entertain friends and family — while its location close to the beach and local cafes and shops had been invaluable. But with Mia growing they have Obrien Real Estate's John Rombotis helping them to sell at the start of an interest rate cutting cycle they believe offers a rare instance of botha good time to buy and a good time to sell, perfect for an upgrade. 'We had been looking at interest rates, seeing them start to stabilise and plus with the potential for them to drop, we saw that as offering a great sellers market and also for buying, so we hope to be in a good position both ways,' Ms Wallace said. 'But we have been thinking about it from about this time last year. 'And we are back to saving as we try to finalise our purchasing plans, though we had been getting ahead of our mortgage as well.' Even after an interest cut, the family will be putting any saved money from their mortgage aside to help facilitate their next purchase. 'Even $50 could be making a huge difference,' Ms Wallace said. They're aiming to be into their next home in no more than 12 months time, but are hoping to move fairly quickly with the expectation home values could rise as rates fall. 'We definitely feel like we have timed it and it's starting to feel like there's some hope coming, and that people are more confident,' Ms Wallace said. Mr Rombotis said the pair were not alone, but those thinking of selling a home today would need to think carefully about how quickly they could move as a sale without a quick follow up purchase could cost them if prices rose rapidly. The agent is anticipating three rate cuts before the end of this year, and said by the time the third hits buyers would no longer be 'window shopping'. However, for affordable homes with unusual features, like the Wallace's supersized apartment back yard, the ability to concentrate first-home buyers could allow them to catch the first wave of any improvements, with first-home buyers tipped to be among the first to respond to rate cuts.
News.com.au
15-05-2025
- Business
- News.com.au
Brendan Fevola's huge real estate play pays off
Brendan Fevola jumping on the bed has helped sell a Parkville apartment to a devoted Blues fan. The Carlton forward from 1999-2009 also played a season with the Brisbane Lions in a 204-game career that included two NAB Cup premierships, two Coleman Medals and three pics for the All-Australian Team — as well as being inducted into the Carlton Football Club Hall of Fame. Now a successful breakfast radio host for Fox FM alongside Fifi Box and Nick Cody, Fevola was earlier this year asked to help promote a Parkville apartment that had lingered on the market for 148 days in 2024. T he double-storey address high above The Avenue was then taken over by OBrien Real Estate's John Rombotis, who played AFL with the Fitzroy Lions, Port Adelaide and Richmond. At the same time as relaunching the home for sale in March, Rombotis arranged a video with Fevola promoting the home for sale. In a bizarre twist, the eventual buyer had inspected the property during its previous stint on the market but, being a devoted Blues fan, after hearing Fevola talking about the experience of doing a video for it on the radio and seeing the clip which included Fevola jumping on the bed, renewed their interest in the home. Rombotis said negotiations for the four-bedroom apartment with a view out to Ikon Park in the park opposite had started low, but ended in a deal within the home's $2.9m-$3.2m advertised price guide at the end of its planned sales campaign. The property features Miele and Gaggenau cooking appliances, a stainless-steel kitchen with a butler's pantry, an expansive balcony with CBD skyline views, and a spa bath in the main bedroom's ensuite.
