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Weekly Newsletter
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Friday, 06 June, 2008
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84% of the Nation's Housing Market Declines in the First Quarter Global Insight, the world’s leading company for economic and financial analysis and forecasting, today released the first quarter 2008 update of the U.S. housing valuation analysis, House Prices in America, showing that single-family home prices fell for the third straight period, dropping at a steep 6.7 % annualized rate. Nationwide, 262 housing markets out of 330 in the study -- the overwhelming majority of the nation’s housing markets -- experienced declines, accounting for 84% of all housing units and 89% of real estate value...
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| >> Homeowners feeling down |
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There is no good news for homeowners desperate to sell their houses as the latest house price survey shows a dip that has not been seen since 1999. Furthermore, if you have put your house up for sale, you can expect to get as much as 40 percent less than your initial asking price by the end of this year...
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| >> House-price growth slows to 4,3% |
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This was down from a revised 5,5% in April and brought the average price of a middle-segment house to about R960,700. However, in real terms, house prices in the middle segment of the market dropped by 5,0% in April, compared with a decline of 3,4% recorded in March, based on headline CPI inflation...
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| >> Report reveals good news for South African property market |
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A recently released report reveals that the country's property market is in good shape and that, while the ‘boom' is tapering off in certain cities, it's only growth rates, not actual property prices that are dropping. Leading marketing insights company, Knowledge Factory, has released a report on property price growth rates for South Africa's major cities. Entitled ‘Report on South African Metropolitan Areas: Property Price Growth', the report is based on data derived from the company's popular South African Property Transfer Guide (SAPTG). The report presents an overview of both historical trends and predicted property price growth rates for South Africa's major cities...
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| >> Restoration development the next big thing |
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“This refers to the redevelopment of older or decaying residential areas to return value to existing infrastructure, and is widely seen as a solution to urban sprawl, as well as a way to halt further degradation of the natural environment and preserve scarce resources,” says Berry Everitt, MD of the Chas Everitt International property group.
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| >> Top buy-to-let tips |
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Saul Geffen, chief executive of mortgage originator ooba, said that rental yields are rapidly improving, underlining the investment case for buy-to-let. "The price boom of the last decade pumped up the capital values of property, outstripping the rises in rents which is typical of a bull market in house prices...
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| >> Sellers should ensure buyers can fund transfer costs |
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Property sellers should ensure that any potential buyer has enough cash on hand to cover all costs related to transfer of the property. “The transfer of a property can be delayed or even fall through if the buyer does not have the funds available to cover associated costs such as, bond registration, legal fees, and, of course, transfer duty,” says Martin Schultheiss, CEO of the SA real estate giant Homenet...
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| >> Have you fallen into a rental loss tax trap? |
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What Sars will and won't let you do if you're a landlord - tax expert. Section 20A of the Income Tax Act provides that under various circumstances rental losses will be ringfenced, meaning that if a taxpayer makes a rental loss, he or she may not set off that loss against any other type of income e.g. salary. Guest columnist and Tax Partner at Cameron & Prentice Chartered Accountants, David Warneke explains...
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| >> Put a helipad on the roof |
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The Summit Investor takes some advice from Dolf de Roos - professor of real estate studies at the University of North Texas - about how to get rich quick with real estate in tricky times...
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| >> Rates will affect home choices |
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Municipal rates are set to become a much bigger factor in home affordability calculations – and in the buyer’s choice of suburb. So says Johan Minnaar, Gauteng North regional manager for the RealNet property group, who notes that the imminent rates increases may well affect homebuyers’ ability to qualify for loans under the provisions of the National Credit Act...
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| >> Keep an eye on the cash |
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“The transfer of a property can be delayed or even fall through if the buyer does not have the funds available to cover associated costs such as, bond registration, legal fees, and, of course, transfer duty,” says Martin Schultheiss, CEO of the SA real estate giant Homenet...
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| >> News from - Huizemark Bedordview |
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The eight interest rate increases since June 2006, rising inflation and a higher fuel price and food prices have made it harder for borrowers to meet their home loan repayments. Some homeowners are no longer able to meet their repayments, and the number of mortgage bond defaulters has increased substantially over the past six months...
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| >> Letters to the editor |
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Times are Tight For the last few weeks we have been bombarded with bad news about our country. Eskom's incompetence, the “xenophobic” violence, the petrol price, interest rates etc - all bad news, or so the media would have us believe. On Sunday night I watched Carte Blanche and, along with thousands of viewers, was shocked and horrified at the fact that people are losing their homes and, thanks to the intervention of the National Credit Regulator, have just enough money to buy food! My heart was gripped by fear. My stomach tied into a knot, and I had a sleepless night. But you see, that is what our media intends to happen. Because when you are ruled by fear, your creativity and individuality are paralysed, and you become a victim - then the media has got more bad news to feed on. It’s in the media’s interests to promote bad news, because bad news sells! However, what the media does not tell you is that more people have become millionaires during hard times than during good times. More people have made fortunes during hard times than during good times. It all depends on your frame of mind. It's natural to feel threatened by the problems that we are facing, but if you succumb to fear, you are going to become a victim of these problems. However, if you acknowledge these problems, realise that they are an inescapable part of life and start living smarter, you will survive and you will prosper. In the book “Who Moved my Cheese”, the author tells a simple story of a mouse that used to go to the same place every day to get his piece of cheese. One day the cheese was not there. The mouse panicked and was gripped by fear, and as a result went hungry the next day as well, and the next. He just kept on going back to the same place over and over, only to find that there was no more cheese. Then another mouse told him that there was cheese at another place, but he wouldn’t believe it. So he continued to go hungry. Our cheese in South Africa is busy moving, and if you don’t move with it and look for new cheese, you will go hungry. You need to keep looking for better, smarter and more creative ways to achieve better results. Only those people that do this will prosper during these challenging times. Burying your head in the sand and talking about bad times with friends and colleagues will achieve nothing. Only smart, creative and consistent action will see you through. When you talk about something and when it occupies your mind, you give it life. So occupy your mind with the excitement of being a different you, and through that, achieving a successful life. Best Regards, |
| >> Focus on Knysna, Western Cape, South Africa |
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View Properties in Knysna
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| >> Property of the week |
Search for property in your area |
| >> BetterBond's tips to home buyers and sellers |
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Stage your main bedroom for comfort
Bedrooms have become so much more than just a place to sleep; they are now seen as an oasis of calm, personal havens and spaces to pamper oneself.
The key words when getting your main bedroom ready for a showhouse are ‘neutral, comfortable and spacious’. Walk into the main bedroom. Do you see the foot of the bed when you walk in? Unless you have no other choice, you want to see the foot of the bed when you walk in. You do not want a bed to cross the doorway because it blocks the flow and makes the room look smaller. It is also better to see the foot, so that you can see the bedding with accent pillows. The bed should be the focal point of the room. If the first thing you see is a computer or exercise bike, you’re sending out confusing messages to the potential buyer. A small main bedroom will seem larger by reducing the amount of furniture to the bare essentials. This includes a bed, side tables and dressing table.
Your bedroom walls should be in a soft neutral colour and your bedding and accessories in the earth-tone family of colours, as this will appeal to most potential buyers. Invest in some new bedding if yours is a little old, faded or on the plain side. Add some plump new pillows and scatter cushions that complement the colour scheme. Your goal is to make the bed inviting and desirable. When you are selling, remember your master bedroom should appeal to buyers of both sexes. Get rid of features that seem too gender-specific, like frilly bed linen.
Don’t display all of your most intimate items on side tables, shelves or on the floor. Remove personal items such as photos. Remember, you want buyers to see themselves in the home … not you and your family. Put away everything but the most attractive accessories. De-clutter your dressing table and consider adding a small bowl of potpourri, or a plant or even a vase of fresh flowers. The bedside tables can be dressed with a pair of matching lamps - lighting does so much more than pure function. Lighting can evoke such a warm ambience in a room. Clear away all the clothes, shoes and any other items left lying on the floor. Consider giving the carpets a steam clean and, if they are a little worn, you might want to replace them.
When you’re finished with staging your main bedroom – remember those key words: ‘neutral, comfortable and spacious’. Make sure your main bedroom looks relaxing and tranquil. I hope you’re enjoyed this week’s tips to staging the main bedroom and next week, we’ll look at the other bedrooms. Article by: Cheryl Marais – Direct Marketing Manager - Betterbond
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| >> Software at its best! |
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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For Sale Property: To Rent Property: |
Put
your money where your mouth is; at the World Economic Forum
investment professionals, Runa Alam, the CEO of Developing Partners
International; Bolaji Balogun, CEO of the Chapel Hill Denham Group;
John Gnobbe, CEO of Brait Private Equity; and Brian Henderson, chairman
of the Global Public Sector at Merrill Lynch had a fictional 41tn
to invest in Africa and this what they came up with;
Are
the prices of houses dropping or not? Share your viewpoint
on these two articles with us and send it to 
The
faltering South African property market has pushed up the demand for rental
property as potential buyers sit on the sidelines.
Knysna,
as a tourist destination, offers an eclectic mix of attractions and activities
- something for everyone. Diverse in its mix of people and its surroundings,
this diversity is reflected in a range of choices of eco-tourism, cultural-tourism
and heritage-tourism. 
