Going Forward

by Gina Kantzas and Mal James

Saturday, February 4th, 2023

Top End Markets

Big Crowds @ 25 Davis St Kew $6m to $6.6m (James and Charlie Tostevin) it was like queuing up for a rock concert.

Today we felt a market returning to a feeling of going forward.

Early days – just the Feb Pep? Who knows, but it was a nice feeling. Let’s enjoy.

Last year was a tale of two market halves. The engine was ¾ on January to June, only to be slammed into full reverse, July to December.

2022 felt like we were either rushing to transact, to beat what might be coming or we were in amongst what had come. The feeling was like an approaching storm hitting our mountain, setting like concrete, dragging us into a mire, forcing one to lose sight of light at the top, while wondering where the bottom might be.

It was not a nice feeling. Early 2023 does not feel like that.

Early 2023 feels comforting as some crowds are returning, press is reporting thawing relations with China and agents/advocates, due to enquiry, are cautiously optimistic their lives are not coming to an end (what fickle weathervanes of market neurosis we are).

From next week we begin again in earnest, my 38^th year in transacting real estate, 24^th year in the buy/sell profession of advocacy/agency and 17^th in writing marketnews and I love it.

Love it because the people involved are on the edge, emotional curtains flung wide open, feelings raw and out there for all to see; and helping gives a truth that keeps it real, keeps it nourishing my soul, providing a meaning directly or indirectly to all parts of my life.

So, as we ease out of the banana lounges and into our seemingly shrunken leather work seats; as we put down our magazines and pick up our news, as we switch our podcasts from entertainment to business; I have three little over-the-holiday stories about buy/sell to ease you into 2023 that make me feel good and I hope for you as well.

Story 1: How to renovate - uncompromisingly

Let’s start with my son, Hughie – 27, a qualified carpenter, and he is a craftsperson. Currently renovating my home in a manner most unusual, highly satisfying, and incredibly low cost. I or to be more exact, my family, is sitting on a little gold mine of architectural averageness but with some quality dirt, so keeping the dirt and uplifting the architecture (frugally).

This home I live in was tired and too big for me. All bar one of the rooms was pokey and darker than I liked and there was a big room at the rear I never used. As well I hardly ever ventured into the backyard.

What to do? Sell and lose a great asset and incur lots of costs or think differently?

With the help of two of my best mates of 45+ years, a well-known commercial architect Lyndon and an equally respected commercial builder Richard – our first project together was 1978 – we came up with a plan of renovation by partial demolition, renovation by simplification and renovation with modest, classy, (code for inexpensive) finishes.

My son has taken this on as his first management project with a massive budget of…… wait for it….. $200,000 and yes, I am paying him his exorbitant tradie rate.

The transformation has been amazing – I have always loved my Position and now I am beginning to re-love our Property, with a Price that I like clients to at least consider when renovating or buy/selling. By not moving to an apartment and not creating more debt, I am making an additional $100,000 a year tax-free, whilst uncompromisingly living my new life and keeping my roots.

Compromise is not spending less than the magazines/friends/architects say; compromise is not getting what you want. I want freedom and to live here and no stress in earning, so I can see my kids and grandkids – therefore spending only $200k whilst getting a total refresh and not moving, is for me, totally uncompromising.

My job has shown me it’s not the neo-marbled European tops but your mental health and family time, which are the world-class, superior renovation discussion points and goals.

To the nitty gritties: bulldozing the rear room opened the backyard by a factor of much, plus brings huge amounts of light and airflow into my new living area. The floors are now actually beautiful and the cost to make them that way – mind-blowingly small via a very simple technique. Rooms that were pokey and dark are now a room(not plural) bright and spacious. Rather than rooms for occasional specialist use, they are one room of constant multiple use.

And the unexpected bonus, my son; he has reminded me about the power of craftsmanship, of time and of genuine collaborations. The more I feel his work (and it doesn’t have to be your son) the more I appreciate what I have.

We started a little testy, despite both being determined to acquiesce in any disagreements to keep the relationship. However, I was setting down all these changes from the original brief (sound familiar). Hughie just said no or ignored me or agreed when I made some sense and got on with the job. The long and the short of it….. as I forget what I wanted to change and started to enjoy what was originally agreed to, I really started to be happy in the quality of the work and how it made me now feel.

One genius move, in combo with Lyndon (and his son James the architects) and Hughie, was to completely refocus the direction of the home and my home life, by putting café style windows in my study and my loungeroom to the street. When open, the community hustle/bustle comes into my home, as do some passing neighbourly waves, winks and words. Its magic as it reconnects me back to local life – this is normal in parts of Europe and Asia but radical in say England, France and Australia. I really like this change. I feel connected rather than isolated and it was so simple and inexpensive to do – that’s the true genius of architectural design ladies and gentlemen – making a client feel good, not just showing off a new concept or material for a BS award of the year!

Couldn’t be happier and no stamp duties, no agent/advocate fees (horror), no massive increases to the mortgage and no huge delays. I am proud of my new home (well I will be when that useless carpenter finishes)

Story 2: How to spend well - share

In our business we make good money, and I was always taught to share good fortune.

The advice is sound, for as you give generously, so you receive even more good fortune.

Maddie one of my two beautiful daughters accompanied me in January, to Tanzania (my 6^th and her 4^th trip) to join in the celebrations of our clients, referrers, friends funding of 500 child surgeries. 500 at an average cost of $800 each in the last 5 years at Selian Hospital Arusha and Zilper Outreach Babati (incredible).

Whilst there, we randomly chose 5 children who were operated on between 2 and 5 years ago to visit and see how they are now – see if the longer-term benefits match – they did match on all 5 – here is one such visit, Magda in pictures. The true power of money.

Left: Magda 2 years ago pre/post surgery

Above: Magda last week on our home visit

Magda and the Machete Man Story

In a part of the world near Tarangire, a national elephant park on the border of the Serengeti, Maddie and I were sitting down on plastic chairs, in front of the most basic of buildings of earth construction, marveling at the free playing and running of Magda…..when I looked up and saw from the corner of my eye, an incredibly fit and muscular man in his early 30’s bolting through the fence towards us, with wait for it ….. a machete.

I looked at Letion (Zilper Surgery Outreach Director) for some reassurance and he had a grin developing as he too had seen this man….. this was Magda’s father and he had come back from the rice paddies, dropped the machete a metre from me, thrust out his hand to shake, smile and say something with emotion – it translated to thank you, I am deeply grateful.

1/2 hour later we were on our way having met a family who was dirt poor financially, but young, vibrant, and rich with everything else many of us want – a strong family connection.

One of their children just needed a one-off hand and a little made all the difference, not only for Magda, but also her family.

Story 3: What to buy - happiness!

And to finish – this lovely note and accompanying pictures landed, unsolicited in our phones first day back. Uplifting!

Hi Gina and Mal, Happy New Year! Hope all is well!

We have been meaning to contact you to let you know how happy we are with the new house. We have just moved in late December and been loving it since!! Everyone has been raving about the house and location. This will not have been possible without your guidance, great advice and support through the whole buying process. Really grateful and appreciate it! Without a doubt we will recommend (have been) you guys to all our family and friends!

Thank you!

Kind regards,

Keith & Riana

Thank you

If you think it could be, then it could be a great 2023; and history (I have too much of it) shows me that many good moves have come in times that are less than perfect.

It’s good to be back, feeling like we are growing again with 3 new jobs and 3 new potential clients first week. It feels as we are all going forward. See you out and about in 2023.

'Round the Grounds today: 3 of 10 covered

20 Berkeley Hawthorn ($10.95m to $11.95m): Rare if not unique and the definition of exquisite in my eyes.

It makes me smile to see this calibre of home on the market, so early in the new year. Well done Ada Taylor from Abercrombys.

A serene beauty lies within the entire home inside and out.

The gardens dominate your senses and change your mood in a few seconds and that happens to me within a crowded OFI.

It is Japanese modern with detail and design. This is a true representation of what you would see in Japan’s finest but of course, being Aus and a large block, here is in far greater proportions.

The home has a spine and compartments, but they do not detract – they add, as the 4BR home is expansive without feeling big. Great bedroom separation and living spaces.

As I leave, I return to the gardens and ponds and windows and light and air and my senses – they are ignited. Very few homes provide the breathing space that makes you forget your outside troubles the moment you step in and then rejuvenates you whilst you rest and relax, before facing the next day.

Price is market driven.

It’s on Scotch Hill but it’s in another world.

Rating 800+ A+ – 4.5 stars.

47 Urquhart Hawthorn ($4m to $4.4m)

Always loved this part of Hawthorn – its not Scotch Hill or Grace Park prices but has their position amenity.

Out there looking at 47 today with Stuart and Desiree from Marshall White – big crowd for a good home.

Is it too big a call to say this north rear, innovative and above average floor plan will go past the low $4m quote. Really like the little things – open mud room, two open bathrooms for children and skylights break up a upstairs lower ceiling – inexpensive options are value adds

Our new rating scoring system puts this circa the 800s – A grade – 4.5 stars with only the carport instead of garage stopping the scoring from going further.

I like it a lot.

65 Lisson Grove, Hawthorn $9.6m to $10.5m Mark Verrocchi of Nelsons. Over the years a few reincarnations and attempts and with the tennis court gone this is the best version and it’s a likable home – your decision if you love it more than like.

See you next week and throughout 2023. Good buying and selling and buy/selling!

Kew - Underground Basketball Court

Is this America I thought as I wandered from the grounds of tennis court, swimming pools, vast spaces to ………. down the lift, past the enormous underground car park and cinema, to wait for it………..and underground basketball court………..yes full height……….yes I have never, ever seen one before, nor a home like it.

Its AAA, it may well break all records (SOI $20m to $22m), yes even in this market and yes there are some recent big ones in Kew, and it will exchange hands, quietly and with possibly less than a handful of people through, possibly before Christmas, but probably next year says James Tostevin and Gina Kantzas.

Phenomenal, the grandest but most practical Boroondara family home with not a cent to spend, modern interiors to die for, combined with the character of a long history – never to be repeated as is – a truly true truism for this incredible home.