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Weekly Property News
Friday, 09 April, 2010 |
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FROM THE EDITOR |
Dear Reader
Im sure that you often ask yourself if you should appoint
a real estate agent or not when buying or selling your property.
With so much property information available on the Internet
to wonder is not wrong. The following articles might just
give you the answer on your question;
- Huge problems for DIY Landlords
- Professional agents can screen tenants properly
Headlines: Estate agents are being inundated with
requests for property valuations in the aftermath of the recent
controversial municipal assessments that have seen some properties
more than double in value since the previous property valuation
in 2007. Michael Hauser, property consultant for Seeff City
Bowl, as well as head of Seeff's German International Division,
said that in the run up to the closure of the objection period
on April 30, he had been approached by at least 30 people
who were desperate to get some idea of why the municipality
had valued their properties as they had. Rates will be calculated
according to these massively inflated values. Seeff
challenges preposterous property valuations
Market news: The FNB House Price Index showed a further
acceleration in year-on-year growth from a February revised
figure of 6.2 percent to a March rate of 8.6 percent. This
remains mostly the result of five percentage points worth
of interest rate cuts in 2008/09, but is believed to be increasingly
supported by the economic growth recovery underway and a resultant
return to positive real household sector disposable income
growth from the fourth quarter of 2009. A return to real
growth
Enjoy!
The editor
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CyberProp
Property Count: 09/04/2010 |
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Local
News |
| Further
rate cuts possible should rand remain rampant economist |
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Owing to the strengthening of the rand, inflation
will go down and there is a potential for a further
interest rates cuts, FNB chief economist Cees
Bruggemans told the South African Property Owners
Association/IPD South Africa Property Index 2010
launch on Wednesday...
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| Property
returns remain positive |
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SA PROPERTY returns stayed positive in 2009,
the SA Property Owners Association (Sapoa) and
the Investment Property Databank (IPD) said yesterday...
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| A
return to real growth |
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The FNB House Price Index showed a further acceleration
in year-on-year growth from a February revised
figure of 6.2 percent to a March rate of 8.6 percent...
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| Impressive
upturn in sales |
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Further evidence that residential property sales
in South Africa are climbing steadily out of the
trough into which it fell in late 2008, and for
much of last year, comes with the announcement
from Tony Clarke, Rawson Properties MD, that March
has been the best month ever in the 36 year history
of the group...
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| SA
vs global property companies |
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African listed property companies have outperformed
the rest of the globe for the 1st quarter of 2010,
by posting an average 9.7% total return. In its
quarterly review the GPR 250 Global Index lists
the Americas as the second runner up at 9,0% over
the same period. The worst performer was Oceania,
which includes Australia and New Zealand at -1.5%...
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Consumer
Protection Act will call for precision and clarity in
marketing
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Lanice Steward, MD of Anne Porter Knight Frank,
has added her voice to that of several other high
profile personalities in the property sector in
saying that the new Consumer Protection Act will
call for greater all round precision and clarity
in all property marketing and transaction documentation...
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| Banks
taking longer to approve bonds |
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With the steady increase in bond applications,
the banks are now taking longer to give clients
a decision: very often a considerable amount of
time is spent in getting additional information
and checking on statements, before a bond is granted...
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| Advice
to sellers get deposit |
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Property sellers, says Graham Leslie, MD of Greeff
Properties, must insist on a deposit being paid
in the sale agreement and ensure that the buyer
pays the full deposit as soon as the agreement
is concluded and the deed of sale signed...
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| Professional
agents can screen tenants properly |
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Michael Bauer, regarded by many in Cape Town
as the citys most reliable commentator on
sectional title matters his company, IHFM,
specialises in this aspect of property management
commented recently that he is still amazed
at the informality sloppiness might
be a better word with which landlords
conclude lease agreements...
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Focus
On |
| Focus
on Johannesburg, Gauteng, South Africa |
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Johannesburg unlike most other major cities,
was not founded near water. Inland, and perched
on the 80km long rocky outcrop of the Witwatersrand,
Johannesburg's existence and growth came from
the financial waters left behind - gold...
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Search
For Properties |
Search for property in your area
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In
the Area |
The areas we are going to take a closer look at this
week are;
| In
the area 1 - Johannesburg |
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Survey shows Johannesburg rental returns better
than Cape
The growing numbers of buy-to-rent residential
property investors were this week given some useful
information on where the best returns can be obtained
by Tony Clarke, MD of Rawson Properties...
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| In
the Area 2 - Zimbali |
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Mzi's R67.5m Zimbali development set to go
under the hammer
The property of Mzi Khumalo's company, Metallon
Hotels & Leisure, is set to go under the hammer
on April 21...
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To
the editor |
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It
is very important to plan in advance before canceling
a bond to ensure that the banks dont charge
a penalty for early settlement. The current norm
with SA banks is that they require a written notice
period of either three months or ninety days depending
on the institution and it is vital to remember
that if the funds are not available to cancel
the bond within a reasonable time after the three
months notice period has elapsed then the mortgagee
will need to resubmit notice once again to avoid
any penalties as the consent to no penalty only
lasts for a certain period of time which is determined
by the various institutions bond documentation.
If penalty interest is charged it is calculated
as being a percentage of the outstanding bond
amount and not a percentage of the registered
bond amount as some people may believe.
Owen Dormehl, CEO of Dormehl Property Group

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Send your viewpoint to news@cyberprop.com
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News
from Aida |
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Local
News Continue |
| Huge
problems for DIY landlords |
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Huge problems lie in wait for the entrepreneurial
landlord who likes to do his own thing
when it comes to selecting and signing up tenants,
says Michael Bauer, General Manager of IHFM, one
of the Capes leading property management
companies...
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| Brick
to transform slums? |
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The Cape Town Building Centre will this month
feature a stand promoting a new concrete block-making
system that has the potential to make building
a lot simpler, according to Mike Grose, the Chief
Executive of Technical Finishes, which supplies
the bonding agent for the blocks...
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