Weekly Newsletter
Friday, 01 February 2008
Property Search | Estate Agents | List your property

Edition 4 of 2008, Friday, 01 February

Dear Reader

Thank you Mr. Tito Mboweni! This is what plenty home owners will say this week as it was announced yesterday by the Reserve Bank's governor that the repo rate and therefore the interest rate will stay the same. Indeed a relief in the property industry. However, South African should not expect rate cuts soon.

I received emails from subscribers wanting to know what would be the best, to rent or to buy. This is for sure not an easy answer and something that only you can decide on. To make it easier to conclude an answer do not miss the following article. Think you should sell up? The pros and cons – two respected economists weigh in on either side of the debate. "Better to rent than buy"

As a kid living in the inner city was always like a dream to me, to be in the middle of all the action. Over the years times has changed and no longer people wish to stay there. Great was my surprise this week when I found not one but two positive articles on two of our inner cities, Johannesburg and Cape Town.

Johannesburg - Young professionals are buying sectional title units newly created from offices in Braamfontein and the core CBD, attracted by the opportunity to get on the property ladder at prices as low as R140 000.

Cape Town - "Let's add more people."

"They knew exactly which neighbour's wall to climb over, exactly which doors to come through and where everything in the house was and what to ask for," Is it safe to sell your property with a mandate, privately or even on show? When killers knock on your door

In our CyberProp Blog we look at some of the various forms of insurance associated with home ownership.

The editor


>> Real Estate News - Home prices begin to pinch less on high loan rates (India)

MUMBAI: The housing market in India is witnessing a fall in sales and prices. This is on the back of exorbitant prices and higher interest rates that have cut into demand in the past several months, industry experts said.

Developers are now hoping for a boost from Reserve Bank of India in the form of a rate cut, but are keeping their fingers crossed. Though under pressure to effect such a cut due to fears of a general slowdown and bearish stock markets, RBI governor YV Reddy has repeatedly voiced concerns over a real estate bubble...

>> “Better to rent than buy”

Think you should sell up? The pros and cons – two respected economists weigh in on either side of the debate.

With property prices relatively high and interest rates not showing signs of coming down any time soon, many people are wondering whether it is time to sell up and rent.

You can get more for your money, in terms of house size and location, if you are a tenant rather than an owner. And, property price growth is slowing, so your home isn’t likely to produce quick capital gains for you like it did earlier this decade...

>> 'People are panicking and desperate'

While real estate agencies have reported a marked increase in calls by residential property owners looking to sell their investment or holiday homes, auction houses in the Western Cape say the number of stressed second-home sales is as much as 300 percent higher than this time last year.

The chief executive of the Alliance Group, Rael Levitt, said there had been a 300 percent increase in inquiries from those in "distress scenarios" this month.

This was in comparison to January last year...

>> (Almost) Glittering again!

Pretoria’s residential stability is what Johannesburg aspires to, but has yet to reach as a brief glance at the average price of sectional title flats in Berea, a near equivalent suburb to Pretoria’s Sunnyside, will attest. According to the Knowledge Factory’s South African Property Transfer guide, average flat prices in Berea have risen from R55 000 in 2002 to R133 000, while Sunnyside’s average went from R45 000 to R287 000.

>> Central CT regenerating

Its occupants are the first to agree that it is by no means the best-looking building in town, but what Media24 employees can boast is a canteen with spectacular views of the Mother City.

From the north-facing side of the top floor of the Naspers building in Heerengracht, the view embraces the Cape Town foreshore, the International Convention Centre and the Victoria & Alfred Waterfront towards Robben Island and Bloubergstrand...

>> Neglect property insurance at your peril

One of the lesser known aspects of the new National Credit Act is confirmation that you are not obliged to obtain your homeowner’s insurance (HOC) from the bank that advanced your home loan.

Homeowners are, in fact, free to obtain quotes from other sources of HOC with the very real prospect of reducing their costs in the process...

>> Sound year foreseen for KwaZulu-Natal property

DESPITE rising interest rates and a tightening consumer market, early indications are that the KwaZulu-Natal commercial and industrial property markets have yet to peak, with this year predicted to be another sound one.

One positive factor underpinning the predictions was that rentals have yet to peak for industrial properties, particularly among older properties. This is despite the province, and especially Durban, its economic hub, struggling with limited stock and excess demand...

>> Focus on Port Alfred, Eastern Cape, South Africa

Picturesque Port Alfred is a favourite seaside holiday resort with a friendly, relaxed atmosphere, situated exactly halfway between East London and Port Elizabeth, on the sparkling Sunshine Coast. Here, it's been proved, there are more sunny days per year than any other part of the coastline!

>> View Properties in the Eastern Cape
>> View Properties in Port Alfred

>> Property of the week

Eastern Cape, Port Alfred, West Beach

Bedrooms: 3
Bathrooms: 2

Magnificent sea views Featuring : Built-in-robes, Combined L/D, Dishwasher, Eat-in-Kitchen, Ensuite, Family, Intercom, Lounge

Search for property in your area

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>> News from - IOL

When killers knock on your door...

Fears are rife among Pretoria home sellers and estate agents that robbers may be posing as home buyers. This follows the murder of a Pretoria pre-school principal, by men posing as potential buyers.

Rinda Abraham, whose family was in the process of selling their Waterkloof Ridge house, was gunned down in her home during the early hours of Sunday when her family was attacked by three gunmen.

Her murder comes a month after a Pretoria domestic worker and her employer's son, who were selling their Die Wilgers home privately, were attacked by gunmen also posing as potential buyers...

>> CEI Overseas Properties Launch Press Release

Launch of Overseas Property Sales Company - A first in South Africa

Marketing South African real estate internationally remains a committed focus of Chas Everitt but now the leading property group is bringing the world of international property investment to South Africans.

The launch of this venture is well timed due to the convergence of a number of factors, chief amongst these being...

>> Illegal over-crowding of rented premises is all too often bad news for the landlords

With apartment and, in some areas, house rentals beginning to show signs of a significant upward move, landlords could in the coming year be in a stronger position to crack down on one of the most difficult of all their problems: the illegal overcrowding of premises.

This was said recently by Tony Clarke, MD of Rawson Properties.

“Rawson Properties’ rental divisions,” said Clarke, “are often asked why we are so insistent that the municipal regulations regarding the number of people allowed in an apartment or home should be strictly adhered to. The answer is straight forward: our experience shows that where tenants are packed into premises and sharing the rent, damage to the property almost always follows and rents are frequently not paid in full because one or more of the residents has failed to meet his obligations. Overcrowding of premises is, therefore, bad news and a good rental agent will make absolutely sure it does not take place – or, if it does, that legal action will follow.”

>> Software at its best!
CyberAgent makes canvassing easy! Use data from SAPTG, CyberTrade and the Deeds office to do mail drops!
CyberAgent enables the estate agent to manage buyers and sellers, sending them birthday cards, emails etc.
CyberAgent enables the estate agent to manage properties and print great reports with a click of a button.
CyberAgent enables the estate agency to keep track of sales related commissions, VAT, outstanding payments and more...
CyberAgent links with the transfer attorneys, send and monitor transfers electronically!
Get your own dynamic web site linked to CyberAgent. Work OFFLINE!!! Only go online when updating your web site.
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If you would like to know more about the above features and benefits that CyberAgent offer, visit: www.cyberagent.co.za or email: sales@cyberprop.com

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