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Weekly Property News
14 January, 2011


Dear Reader

Property mogul Wendy Machanik rocked the property industry this week with allegations that she and her company have misappropriated over R25 million. An ex-employee claimed Machanik used the money to fund a lavish lifestyle, spending R80 000 on earrings at a charity auction. Machanik will not trade until the court case is concluded. According to her no money was missing from the accounts and that anyone who had purchased or rented a property from WMP had no fear of losing their deposit. An interdict in the South Gauteng High Court prevented the firm from having access to the trust accounts, which have been placed under a curator.

However this is not where it's going to stop; auditors nationwide will investigate possible financial abuses in the estate agents industry. A countywide investigation will probe 5826 estate agencies and 27769 estate agents as the Estate Agency Affairs Board throws its net wider in ensuring that firms and individuals are operating above board. The board has brought in auditing firms SAB&T, Ernst & Young and G&G Chartered Accountants to investigate the real estate industry. Business Day

And this bring us to the question, can you trust the estate agency/agent that you deal with? Over the last few months we've asked you the reader to vote for South Africa's most trustworthy agencies. Wendy Machanik Properties is one of the agencies that was nominated by our readers and received over 200 votes so far.

Selling your home plays on your fears. Fears that you don't know how to sell your home, that it will be on the market for years and that, of course, you won't get the best price. So, you call a real estate agent and use their huge knowledge of the market and marketing channels to sell your home quickly, easily and for the very best possible price. And that's the sticking point. Due to the way commission is structured, it's not in the real estate agent's best interests to get you the best price for your home. No, they want a good price, but they want a quick sale. It is far more profitable to get you to take the first reasonable offer that comes along, than wait another week or two and get you an extra R 10,000.00.

On the other hand, you might not get that 2nd offer with the extra R 10,000.00. You might sit with your property in the market for months to come. Best of all, you might not get the price you want at all.

Over the years I've learned that estate agents are also only human and that the real estate industry like so many other industry is truly a "cat and mouse" game.

The editor

In This Issue
Featured Property

Gauteng, Pretoria, Lynnwood
Country Estate: Bedrooms: 4| Bathrooms: 4
GOD'S WINDOW with 360 degree view over Pretoria. A masterpiece in architecture, craftsmenship, interior finishes and style. For the conisieur a home with a heart of gold. Designed by Gerhardt Bolt, built by Rudan Maritz and decorated by Engela Smith Interiors. Situated in quiet boomed part of Lynnwood against the hystorical Strubenkop...

South Africa’s most trusted Real Estate Company

Nominationas are closed!

Folllow the link below to vote for South Africa's most trusted real estate company:

Due to public demand we have decided to extend voting until the 31st of January 2011

Local News

Home prices not moving

The December 2010 FNB House Price Index completes the picture for last year, a year which proved to be hard work for those in the property industry, although it was significantly better than 2009...

Modest property price growth predicted for this year

Residential property prices will achieve modest growth this year, and home buyers should take advantage of the current favourable environment, financial services provider ooba said on Tuesday...

Promising signs as we begin 2011

So there is France, one of the richest and safest countries in the world - and are its people happy? Definitely not, going by the fact that the country is Europe's biggest consumer of anti-depressants...

SA investors benefit from UK commercial property

With the new exchange control allowance of R4m per year for South Africans, UK commercial property is now a more viable investment option...

Positive sentiment for the buy-to-let market

Data availability for the rental market is far less comprehensive than for the home buying market in South Africa. However, with what data we have it would appear that the fundamentals of the rental market may be improving, and this may lead to rental market strengthening in 2011...

A new idea to help property market recover

Recovery in the residential property market would happen a lot faster if lenders were more willing to share risk with distressed homeowners...

Wider scope now to transfer your property tax-free

Recent changes to tax legislation mean that even more people can now take advantage of the opportunity to transfer properties that are currently owned by companies, close corporations and trusts into their own names, without incurring any secondary tax on companies, capital gains tax or transfer duty...

Buy a home you can love

When you go shopping for a new home, it's important to buy one that's loveable as well as good value for money...

Buy cheap, then renovate

In certain areas, especially Cape Town's Atlantic Seaboard and City Bowl, buying a property to renovate is extremely popular. Adrian Goslett, CEO of RE/MAX of Southern Africa, provides a few guidelines on aspects to consider when buyers invest in their future dream home…

Why not make this year the year of the "green" office?

Many homeowners are already implementing green measures to help protect the environment and, says Berry Everitt, CEO of the Chas Everitt International property group, it’s relatively simple to expand that concern to the workplace...

Give beetles the brush-off before you list your home

You may think that borer beetles are boring, but if you want to sell a house at the coast, you'll need to pay them some attention...

A touch of luxury to your bathroom

Even with the recent economic downturn, there are a wide range of TV shows on celebrity lifestyles and home improvements. People have maintained their taste for luxury even though budgets are a little tighter than they once were...

Decision-making in homeowners' associations

A homeowners' association (HOA), whether it be a small residential complex or a golf estate, is a community scheme and its members are entitled to a say in how it is run. How is this achieved?

Focus On

Pretoria, Gauteng, South Africa

With the lilac splendour of jacarandas as its trademark, Pretoria has grown into a metropolitan structure encapsulating a rainbow nation.

>> Properties in Pretoria
>> Properties in Gauteng

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;

  • Jo'burg and PE
  • Tshwane

In the area 1 - Jo'burg and PE

Port Elizabeth and Johannesburg currently appear to be the best SA cities in which to buy a home, according to the latest housing and salary statistics - for the simple reason that they offer the best affordability...

In the area 2 - Tshwane

Affordable homes are hot property in Tshwane

The affordable housing sector in Tshwane's northern areas is not just hot, it's boiling...

To the editor

Share your comments with us by sending it to news@cyberprop.com

News from the Green Building Council

Expanding Green Building Council seeks new CEO

After successfully leading the Green Building Council of South Africa (GBCSA) since inception, Founding CEO Nicola Milne (nee Douglas) will step aside when she goes on maternity leave in February 2011 and the Council is seeking a new CEO to take over the running of this growing and increasingly influential organisation...

Local News Continue

Nehawu calls for "courage" over land ownership

Nehawu has called on President Jacob Zuma "to show courage and decisive leadership" by limiting or banning foreign land ownership in South Africa following the ANC’s January 8th statement in which the party announced plans to restrict foreign land ownership to leasehold...

CyberProp Property Count: 14/01/2011

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Properties for Sale: 141,467
Properties to Rent: 10,557

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