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16 May 2014
FROM THE EDITOR

Read an article titled Will higher rates slow the market? to find out what will happen when the Reserve Bank Monetary Policy Committee holds its third meeting of this year to determine whether the prime interest rate will remain at its current rate or be changed.

In residential property deals there is a world of difference between an Offer to Purchase and an Agreement of Sale; once all terms and conditions have been agreed to between the parties, i.e. the purchaser and the seller. Read an article titled Many Offers to Purchase and Agreements of Sale not crowned with success.

According to Shaun Rademeyer, CEO of BetterBond Home Loans, although all the major banks have been more willing to lend to home buyers in general over the past 12 months, there has been an increase of almost 9% in the number of own-client applications that they have rejected. Read the entire story in Originators have a better rate of success.

In an article titled What happens when there are no trustees, find out what Michael Bauer, general manager of the property management company IHFM, came across in a sectonal title scheme that had been running for years without trustees, and the managing agent had been dealing with everything to do with the management and administration.

We then take a closer look at Plettenberg Bay, a coastal town that is also known as the Jewel of the South African Garden Route, maybe be because of its pristine beaches and the temperate climate. For more interesting facts about Plettenberg Bay, see our Focus On section of this Newsletter.

Enjoy!
The editor


Property of the Week

Rosendal, Bellville, Western Cape, South Africa
Overlooking dam in exclusive gated complex 

News
Will higher rates slow the market?
Later this month the Reserve Bank Monetary Policy Committee will hold its third meeting of this year to determine whether the prime interest rate will remain at its current rate or be changed...

Bank valuations for bonds can derail bond applications
While it is true that those South Africans hoping to buy a home – or are simply investing in residential property – these days tend to have a better understanding of how the banks’ loan criteria work when they apply for a bond...


Franchising has proved 'ideal' for property marketing

Franchising has proved to be the ideal way for residential property marketing groups to expand their footprint nationally and recruit top performers...


Many Offers to Purchase and Agreements of Sale not crowned with success
In residential property deals there is a world of difference between an Offer to Purchase and an Agreement of Sale; once all terms and conditions have been agreed to between the parties, i.e. the purchaser and the seller...

Originators have a better rate of success
Whether you’re buying your first home or your fifth one, you have a much better chance of being approved for a home loan if you apply through a mortgage originator than if you try to handle things alone...

Estate agency commissions not high in view of the service provided
For as long as he can remember, South African estate agents have been asked (sometimes quite aggressively) why they feel justified in charging commissions at the ‘high’ level they insist on...

Banks lend more, but only to the 'right' borrowers
The banks’ greater willingness to lend into the residential property market over the past 12 months, as well as the extent of the recovery in that market, is evident in the latest statistics released by BetterBond Home Loans...

Residential buy-to-let investment increasingly popular
Towards the end of 2011, Bill Rawson, predicted that three factors would drive up rentals faster than at any time in the last few years — and this week he was able to confirm that...

Marked increase in mortgage-dependent buyers

The past few months have seen a noticeable return of mortgage-dependent buyers to the Cape’s residential property market, which includes the greater Cape Town metropolitan area...


Property investment advice
When it comes to property investment, particularly when there is a large portfolio of buy to let properties, if the debt to equity ratio is high, this high risk level should be phased out over time...

How to find the 'next big thing'
Most homebuyers would like to be sure that the value of their property will appreciate over time, and this means that they need to spend at least as much time choosing an area as they do deciding what features they want in a home...

Beware the unprofessional 'bakkie builder'
The horror stories that the Rawson Property Group’s clients relay to him and his colleagues regarding the shortcomings of South Africa’s less experienced and less reliable ‘bakkie builders’ come through so frequently and can involve such large sums of money...

Certain steps must always be taken when choosing an estate agent
It always comes as a surprise to Bill Rawson, Chairman of the Rawson Property Group, how casual home owners can be when appointing an estate agent...

Reserve funds will become mandatory
Most sectional title schemes are now preparing for their annual general meetings (or might have just had them) and will have set their budgets for the year which will be approved by the owners at the AGM for the new financial year...








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Focus On

Plettenberg Bay, Western Cape, South Africa
Welcome to Plettenberg Bay, a coastal town that is also known as the Jewel of the South African Garden Route, maybe be because of its pristine beaches and the temperate climate...

>> View properties in Plettenberg Ba

In The Area

The areas we are going to take a closer look at this week are;

  • Silverhurst
  • Bryanston
  • Cape Town
Exclusive Silverhurst property for sale
Silverhurst Estate in Constantia has long been known for its top security and prestigious homes, and demand is high for properties here...

Buyer show confidence in Johannesburg South
Luxury estates on Johannesburg's southern border are proving increasingly attractive to the city’s well-to-do young homebuyers, thanks to the secure lifestyle they offer within easy reach of the city centre...

Good buy-to-let prospects in Mount Edgecombe estate
It’s no secret that the massive commercial developments in and around Umhlanga over the past few years have created a huge demand for rental properties in this part of KwaZulu-Natal...

News Continue

What happens when there are no trustees
Prescribed Management Rules 4 to 14 deal with trustees in sectional title schemes and stipulate that there must be a minimum of two trustees and a maximum of five...

Rates clearance certificate warning
There is a possible risk that buyers of property need to be aware of when the municipality issues the rates clearance certificate on the property they are purchasing

 

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To the Editor

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Tivvit Property Count 16/05/14

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"This is not advice. Clients should not act solely on the basis of the material contained in this newsletter. Items herein are general comments only and do not convey advice per se. Also changes in legislation may occur quickly. We therefore recommend that formal advice be sought before acting in any of these areas."

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