Weekly Property News
15 April 2011
FROM THE EDITOR

Dear Reader

In this week’s newsletter advice from the property experts;

Even though the economy is improving, the latest statistics show that around one-fifth of all home sellers are still looking to downscale to smaller homes that are less costly to run and maintain. However, says Berry Everitt, MD of the Chas Everitt International property group, in most cases it is not a good idea to commit to the purchase of a new home before you have sold your existing property. Don't sign before you sell

Although it’s relatively difficult to obtain finance at the moment, prospective homeowners should not be dissuaded from trying to buy a property – for one very good reason.And this is, says Harcourts Africa CEO Richard Gray, that the current buyers’ market will not last forever. Homebuyers who snooze now will lose

Headlines: The Constitutional Court on Monday ruled that only a judge -- and not a high court registrar -- can decide if a bank is allowed to sell a person's home in execution. In a unanimous judgment, the court ruled that "where execution against the homes of indigent debtors who run the risk of losing their security of tenure is sought after judgment on a money debt, further judicial oversight by a court of law of the execution process is a must. Court favours homeowners

Market news: Implying slow supply growth in homes available to rent. Such is the nature of the leads and lags in the property cycle, that it may sound ironic when we say that residential property may slowly be regaining some appeal as an investment asset class precisely because of a lack of investment in it in recent times. Buy-to-let buying still weak

Enjoy!
The editor

In This Issue
Featured Property

Brits, North West
Farm:
88Ha farm with scheduled water from the Hartebeespoort dam. One main farmhouse, 3 bedrooms and 3 bathrooms. 2 Extra houses that can be rented out for extra income. 5 Garages, 2 swimming pools and spacious garden area. Very beautiful and perfect for the country life!

Local News

More first time home buyers show confidence in market - FNB

There were more first time home buyers in the first quarter of 2011, indicating improved confidence in the property market, FNB Home Loans strategist John Loos said on Wednesday...


Home loans at 3-year high

The number of bond applications in March 2011 reached a three-year high, according to bond originator ooba...


Homebuyers who snooze now will lose

Although it’s relatively difficult to obtain finance at the moment, prospective homeowners should not be dissuaded from trying to buy a property – for one very good reason...


Court favours homeowners

The Constitutional Court on Monday ruled that only a judge -- and not a high court registrar -- can decide if a bank is allowed to sell a person's home in execution...


Buy to rent investors

Many property professionals have in recent years recommended that buy-to-rent investors in the residential market tend to fare best when they stick to the lower middle and lower price brackets...


Buy-to-let buying still weak

Such is the nature of the leads and lags in the property cycle, that it may sound ironic when we say that residential property may slowly be regaining some appeal as an investment asset class precisely because of a lack of investment in it in recent times...


UK and European buyers on a good wicket

Interviewed recently by South African Property News, a tabloid newspaper distributed only in the UK, Dante Fratti, CEO of D F Properties, which sells previously occupied homes in Century City, stressed that South Africa - and Cape Town in particular - have the ability to attract foreign buyers in a big way for the simple reason that their money here ‘goes a great deal further than it would in the places where they live’...


Choose a home ahead of a car

The two major purchases most often considered by young people when they first acquire financial independence are a new car and a home - but for many it comes down to a choice between the two, because they can't afford both at once...


Banks unreasonable caution on home loans

Ninety percent of the people buying in Rawson Developments’ three new Rondebosch projects, Rondebosch Oaks, Phase II, River’s Edge and The Rondebosch, are investors who will rent out the units from day one - and to date 231 (64 %) of the total units have been sold, bringing in just over R150 million...


Banks must find buyers for repossesed stock

If a bank has, say, 100 repossessed properties bringing in no rental income but then turns down 100 (or more) bond applications for this stock, it has quite obviously not improved its position in any way...


Don't sign before you sell

Even though the economy is improving, the latest statistics show that around one-fifth of all home sellers are still looking to downscale to smaller homes that are less costly to run and maintain...


Logic in buying a new home rather than a used one

It may surprise many who are not familiar with the South African property scene to learn that 70% of property investors and some 25% of buyers actually planning to occupy the homes they own still prefer a newly built home rather than one which is ‘second-hand’...


Good neighbours = higher home values

All over the world, people are seeking out neighbourhoods that offer them the possibility of a quieter life, a safer environment in which to bring up their children and a chance to be more “connected” with their community...


Landlords need to be aware of tenants' rights

When a property in which there is a tenant is sold to a new owner, it has always to be recognised that in the Roman-Dutch law on which SA’s laws are based, “Huur gaat voor koop” – the rights of a tenant with an existing lease outweigh those of the new owner...

Focus On

Brits, North West, South Africa

A fertile, citrus-producing area irrigated by the waters of the Hartebeespoort Dam.

To the South of Brits, beneath a karee tree, the armistice treaty of the Boer Civil War was signed in 1864 and, nearby De Wildt station, a famous speech by General Hertzog in 1912 led to the formation of the National Party...

>> Properties in North West
>> Properties in Brits


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;

  • Onrus
  • Zeerust
  • Constantia
  • Brits
In the area 1 - Onrus

A new development now under way offers senior citizens the opportunity to retire in style to the idyllic coastal village of Onrus, near Hermanus in the Western Cape...


In the area 2 - Zeerust

The recent reopening of the Witkop fluorspar mine in the Northwest province has breathed new life into Zeerust, the nearest town...


In the area 3 - Constantia

Statements implying that because upper bracket homes are now selling a great deal slower than they did in the 2004-2007 era, Constantia residential sales are few and far between are way off the mark, says Gerald Romanovsky, a senior agent in Eugene Pienaar’s Rawson Properties Constantia franchise...


In the area 4 - Brits

Investors are buying up as many houses in and around Brits as they can get their hands on, because of the high demand for rental property in the small Northwest town, and the good returns to be made...


To the editor

To the editor:

Hi, any more information on Stilus? I read an article on www.sectionaltitlesa.co.za, which said that taking out the Levy insurance of Stilus would require a special resolution to authorise the trustees to insure the body corporate against additional risk. Is this true?

Judy

From the editor:

We receive the following answer from Paddocks;

I cannot provide a direct answer to her question (we are now only answering questions through Paddocks Club) but she can have a read of Graham's Stilus article for more information: www.paddocks.co.za/paddocks-press-newsletter/297-stilus-santam-insurance

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


News from: GBCSA

Information is Key

Financial Performance of Green Buildings

We found this recent RICS Research Report on Sustainability and the Dynamics of Green Building thought-provoking. It delves into evidence on the financial performance of green office buildings in the USA...

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CyberProp Property Count: 15/04/2011

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