Weekly Property News
Friday, 05 February, 2010

Dear Reader

According to the experts smart money is looking at gold. While equities, real estate, and other commodities have experienced major swings, the gold price has increased more than 300 percent since 2001. The question; Is the worst over for the property industry?

Headlines: There will be no quick turnaround for SA's housing market, Standard Bank said in its latest Residential Property Gauge. "In spite of the economy emerging from recession in the third quarter of 2009, important drivers of household spending in the economy, such as the level of household income, debt and unemployment, do not point to a quick turnaround in the housing market," the bank's economist Johan Botha said in a statement. Property remains sluggish

Market news: With interest rates low and prices still favourable, many people are intending to make 2010 the year they get into the property market by buying their first home. However, after they select an area they would like to live in and start looking at individual properties, first-time buyers often find themselves "freezing up" at the prospect of the huge commitment they are about to make. What if they pick a property that turns out to need expensive repairs? What if the new neighbours turn out to be ghastly? What if something better comes up just after they've signed a sale agreement? Pick your plum property in 2010

The editor

In This Issue
Featured Property
Mpumalanga, Lydenburg

A family home it may seem, a professional boom it may be. Located in Nelspruit, Mpumalanga this 3 bedroom, 2 bathroom, open plan kitchen, alarm system, swimming pool, with surrounding walls and double garage, your money will point direct to your dream home...

Local News

SA needs business-friendly economic policies ... and real estate asset prices cannot rise any more

The most effective way to deal with poverty is employment creation. Fortunately, employment creation and the goal of creating decent work opportunities are key elements of government’s economic policies...

Top investment tips from a hungry property vulture

The distressed property market has seen big business over the last couple of years, at least for banks, auction houses, real estate companies and investors. RICS, one of the world's leading professional bodies for qualifications and standards in land, property and construction defines "distressed property" as one that is "under a foreclosure order or is advertised for sale by its mortgagee".

Property remains sluggish

There will be no quick turnaround for SA's housing market, Standard Bank said in its latest Residential Property Gauge...

Pick your plum property in 2010

With interest rates low and prices still favourable, many people are intending to make 2010 the year they get into the property market by buying their first home...

2010 looks good for long-term rentals

Returns from rental property investments are expected to remain solid in 2010, says a leading market commentator...

City house prices are chugging up

But coastal holiday homes still in doldrums - latest stats

House price growth in South Africa's cities shows the property market is trying to shrug off last year's recession, but coastal holiday towns and villages are still in the doldrums...

Beware of rental scams!

Potential tenants are becoming more aware of rental scams by bogus landlords, according to Seeff Properties...

"Temporary" World Cup landlords advised to declare all income to SARS

Often encouraged by stories of very high rentals, a surprisingly large number of South Africans are apparently now willing to let out their homes over the World Cup period, says Grant Gunston, senior director of Grant Gunston Inc – but, he warns, they must be prepared to declare this income to SARS...

Voetstoots ruling strengthens position of seller

A recent Supreme Court of Appeal decision in the case Odendaal v Ferraris has strengthened the position of the property seller when challenged on the voetstoots clause, says Grant Gunston, senior director of the Cape firm of attorneys and conveyancers Grant Gunston Inc...

Getting it right

According to Adrian Goslett, Assistant Regional Director of RE/MAX of Southern Africa, research is key when it comes to building property in SA...

Builders remain confident

The global construction sector remains optimistic despite falling demand in commercial and residential building work and in the face of a difficult global financial climate, according to a global KPMG survey out on Thursday...

Three property investment styles

Real estate is right up there as a favourite South African dinner table conversation. Following perhaps sport, crime and politics, our everyday people can spend hours discussing how they intend cashing in on World Cup home rentals or "who got what" when they sold their home...

With a recovery on the way sellers again tempted to overprice, says Greeff properties manager

There are, says Gerald Romanovsky, Manager of Greeff Properties' Hout Bay branch, clear signs that the recovery phase in property prices, long awaited by so many Hout Bay residents, is now under way...

Upcountry buyers find Cape prices high - but are still coming south

The Cape lifestyle and its relatively low crime figures continue to attract upcountry home buyers to all the Cape Peninsula areas that Greeff Properties service, says Mike Greeff, CEO of Greeff Properties – but, he adds, this can call for a significant scaling down on the part of the non-Cape buyer...

Julius Malema & your property rights

CAPE TOWN: The ANC Youth League, becoming increasingly vocal and more controversial in its views, gives investors in South African residential property its blessing - provided they are not foreigners...

Secure and insure your holiday home

If you’ve just bought a holiday home or weekend property, you need to make sure it is just as well-secured as your primary residence – and properly insured...

Use a good agent to be sure of your buyer

A cause for concern is the casual attitude an increasing number of homebuyers are exhibiting towards sale agreements or the suspensive conditions these contain – even though they can be sued for damages if they renege on these contracts...

RE/MAX Network Continues Expansion Worldwide

With 2009 described as a dismal year for property, a year when the real estate industry continued to feel the effects of a recession, RE/MAX of Southern Africa proved that when the going gets tough, the tough get going...

CyberProp Property Count: 05/02/2010

Search Now

Properties for Sale: 124,102
Properties to Rent: 9,602

Focus On

Focus on Focus on Lydenburg, Mpumalanga, South Africa

Painters, wood carvers, stained glass artists, botanical sketch artist are just some of the talented artists residing in this area. Also an eco-traveller and adventure fundi's paradise. It is within easy reach of world-renowned attractions...

>> View Properties in the Lydenburg
>> View Properties in the Mpumalanga

Search For Properties

1. Western Cape
2. Garden Route
3. Northern Cape
4. Eastern Cape
5. KwaZulu Natal
6. Free State
7. North West
8. Gauteng
9. Mpumalanga
10. Limpopo

Search for property in your area

Enter City/Suburb:

In the Area

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

  • Observatory
  • Lydenburg
In the Area 1 - Observatory

Craig Gilfillan, Rawson Properties’ new franchise principal serving Observatory and related areas, takes on his new position with two great advantages, says Tony Clarke, MD of Rawson Properties...

In the Area 2 - Lydenburg

The Harcourts brand is finding favour among property buyers and sellers in the Mpumalanga town of Lydenburg...

To the editor

Illegally parked cars can be removed

Parking problems are frequently the biggest cause of complaint among sectional title owners and residents, says Michael Bauer, General Manager of IHFM, a specialist sectional title and property management firm.

Sectional title schemes tend, he said, to be short of extra parking space and all too often a resident or his guests will park in an area set aside for another resident or sometimes even on common property. He may also park so as to block the passage of another resident.

In the most difficult cases, the illegally parked car will have no number plate or may well be in a condition which will take hours of skilled work to render it driveable and roadworthy – and its appearance will detract significantly from the scheme’s image.

In these circumstances, said Bauer, trustees and managing agents are usually challenged by other owners or tenants to do something to rectify the matter.

The conduct rules, says Bauer, do allow trustees to remove any vehicle parked illegally on their property. This may involve employing a towing company and storing the vehicle in the towing company’s premises.

So far, so good, but who pays for the towing and storage? And what happens of the owner cannot be traced and the vehicle is never claimed?

Bauer says that the vehicle owner is liable for all towing and storage costs, but, he says, trustees have routinely had great difficulty getting these sums paid.

“It is, therefore, advisable to confront the owner before taking action. If possible this should be done face to face. If no response is forthcoming, a letter demanding the car’s removal must then be sent. If this, in turn, has not effect, the tow away should be carried out.”

If the car is not claimed by anyone the storage company has the right to sell it as scrap or take it over and work on it.

For further information contact Michael Bauer on 083 255 4442 or visit www.ihfm.co.za. IHFM have a weekly online newsletter covering sectional title and property matters that will be supplied on request.

Send your viewpoint to news@cyberprop.com

News from Berry Everitt

It's the start of a new decade, and there's a general air of great promise in the coming year

It's the start of a new decade, and there's a general air of great promise in the coming year - for the economy, for South Africa as a nation and for our property market. And then for us at Chas Everitt International, there's the added excitement of a very important milestone this year - the 30th anniversary of our establishment as a real estate group...

Sectional Title News

Insurance and the Home Owner’s Association

When we think of community living and insurance, we usually think about sectional title insurance, because it is under the sectional title environment, where the buildings have to be insured by the body corporate, the responsibility of the management of the scheme...

Members' attendance at sectional title AGMS is essential to the welfare of the scheme, says leading managing agent

The trustees of sectional title schemes are often at this time of year preparing for their most important meeting, the Annual General Meeting, at which they come face to face with body corporate members...

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