South Africans are positively giddy that Suze Orman, a personal finance expert who is a household name in the U.S., has chosen to buy property in their country. She purchased a home in Northcliff, one of Johannesburg's poshest areas, according to iafrica.com. Apparently, South Africa is the only other country besides the US where Orman owns a place.

Orman's purchase, local real estate professionals hope, speaks well of the property market in the country. Johannesburg is becoming the city of choice for professionals and companies who want to take advantage of its closeness to African markets, Lew Geffen, Chairman of Sotheby's International Reality, told iafrica.com...

Falling interest rates won't stop prices from dropping or ignite sales volumes - new property data, scary home loan rejection rates.

Falling interest rates won't stop property prices dropping or ignite sales volumes. The lack of credit available in the market is keeping a lid on South Africa's residential real estate market and this time we need a marked improvement in economic growth and a drop-off in unemployment figures before banks start lending again...

Recent market gains can’t be dismissed as a mere respite

I LOOKED forward to the long weekend.

I had gathered a pile of articles and magazines and promised myself that by the end of the four-day holiday I would be better informed to comment on how the government’s bail-out packages were likely to shape the outlook for the global economy, and how the decision to drop charges against ANC leader Jacob Zuma might influence South Africa’s future...

Three interest rate cuts since December have failed as yet to have any real impact on the residential market, says Ivan Neethling, Chairman of the Western Cape branch of the Institute of South African Estate Agents - and the reason for this, he says, is still the banks’ much criticised reluctance to engage with the bond market as expected of them - and as promised, at least by some.

Neethling said that he had come away from a recent meeting with three major banks convinced that they are finding reasons not to invest in the bond market rather than looking for reliable bond applicants...

This exciting initiative, now in it's second year involves selecting a Children’s Home and giving them a Home Makeover, transforming them into bright, new, comfortable and stimulating home environments for the children who live there.

If you are interested in participating in this rewarding project or prepared to donate materials that can be used please contact the Chas Everitt office near you or Tracey Everitt...

Interest rate cuts are among the policy responses proposed to minimise the impact of the global financial downturn, ANC treasurer-general Mathews Phosa said on Wednesday.

The slowdown in foreign exchange due to the commodities "meltdown", is one of the country's biggest challenges, he told a gathering of the ANC's Progressive Business Forum at Gallagher Estate in Midrand...

A whole list of successfully managed international sports events has proved to the world that South Africa is a safe haven for this type of activity — and has the skills and dedication to see that they run smoothly.

This was according to Tony Clarke, MD of Rawson Properties, who listed 24 major events ranging from the Rugby World Cup, the A1 Grand Prix and the Nedbank Golf Challenge to the Comrades Marathon and certain surf-ski and mountain biking events to bear witness to his statement...

SA property has held up relatively well; Viljoen's not the only fund manager to think it's over-priced.

Regarding Capital Management founder Piet Vijoen does not think the listed property sector is offering good value at the moment. Viljoen is not alone in this view; last month Moneyweb noted that Prescient’s Herman Steyn was not a big fan or property, bonds or preference shares.

South African property shares have held up pretty well, not falling as much as other listed counters. According to Equinox, the best-performing unit trust over a five-year period is the Stanlib Property Income Fund...

*Watch out for these buyer “risk points” before you agree to a deal.

Sellers acceptance of offers to purchase a year or so ago was usually a mere formality with few hitches, but in today's environment, sellers need to be on high alert when entertaining offers to purchase. Grant Gavin of RE/MAX Panache gives pointers on how sellers can protect their interests in the sale process...

JOHANNESBURG (April 16) - The banks have become a lot more cautious when assessing self-employed mortgage bond applicants. Gone are the days that an income letter from an accountant, supported by six months bank statements, sufficed.

In this challenging economic climate, banks want to scrutinise the stability of the organistion before they will consider a self-employed applicant as a viable debtor, irrespective of the security offered as collateral. It’s now all about affordability and sustainability! So how do self-employed entrepreneurs ensure that they are first in line when it comes to laying their hands on some of the available funds in the banks’ coffers...

New rulings regarding the issuing of electrical compliance certificates for residential properties, which will come into effect from the 1st of May this year (2009), will simplify the demands made on sellers and buyers of residential property.

Pointing this out, Lanice Steward, MD of Anne Porter Knight Frank, said that the regulations had traditionally made it mandatory for the seller of a property to give the purchaser a certificate confirming that the electrical installations were in working order...

There’s no doubt that gardens add value to our lives. They have been around in one form or another since the Dark Ages and are becoming increasingly important to the health and welfare of city dwellers.

A well tended garden can sell a home in an instant, so the time and resources spent on upgrading the garden will be well worth the effort. Having said that, it is not necessary to spend a fortune to make a garden attractive...

The accepted financial wisdom, said to have been first propounded by Rothschilds was that an individual’s investments should be roughly equally divided (one-third each) between cash, investments (in this day the stock exchange) and property – but this view is taking a knock right now, says Lanice Steward, MD of Anne Porter Knight Frank.

Not surprisingly, said Steward, there have this year been major investors who have now opted to have up to two-thirds of their resources in property - and who are now delighted with their decision...

Following on the example in the last edition of Finance Matters, Estate Duty savings as opposed to Estate Duty deferment can actually be achieved with the utilisation of limited interests.

In the last edition, I covered the use of usufructs as an effective means of protecting assets for future beneficiaries and also highlighted the associated benefits of this type of disposition due to the deferment of the Estate Duty liability. As indicated by the example, no savings are actually achieved in the long term because of the value included in the estate of the usufructuary when the usufruct terminates. Using exactly the same example, however, if the usufructuary were to donate his usufruct to the bare dominium holder during his lifetime, the eventual estate duty liability could be significantly less...

To the editor;

I have recently had plans approved for building alterations to my property in Jeffreys Bay.
The plans are for a 40sqm extension to an existing property.

My question is simply, if I choose to have the extension built to the same dimensions in timber rather than brick will I need to submit new plans?

Regards,
Mike Hancock

From the editor;

The best would be to speak to your Local Council that approved your building plan in the first place.

It all depends on their “kindness”.

To the editor;

The following property humour was send in by Caroline de Wet, RE/MAX 2000;

Send your viewpoints or comments on any of the articles, or questions you may have to news@cyberprop.com

Where to Turn When Your Home Doesn’t Sell

Cape Town – If your home has just come off the market and hasn’t sold, don’t be discouraged. The reason your home did not sell may have nothing to do with your home or the market. In reality, your home may have been one of the most desirable properties for sale.

If your listing has expired and you still want results, before you put your home back on the market, take a step back and review your situation...

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

• Stellenbosch
  
• Louis Trichardt
  
• Centurion

Property owners in the Western Cape town of Stellenbosch should be as pleased as punch with the way local prices are holding up in contrast with tumbling values elsewhere in the country.

So says Elmarie van Huyssteen, principal of the local Chas Everitt International franchise who notes that a shortage of property in the town that has persisted since the boom years is helping to prop up prices. “And most owners and investors here can afford to sit out the property storm, so there has been no panic selling and no sudden rush of auctions or foreclosures...

The property market in the small Limpopo town of Louis Trichardt is weathering the downturn better than most.

So says Jana Smith, principal of leading local agency Homenet Jana Marie, who notes that property prices in the town have remained fairly stable over the past six months with no real decline. Foreclosures and auctions have yet to occur on any scale, retail and residential development is going ahead and enquiries and sales have remained brisk...

A central locality, easy access to business and retail nodes and a plethora of affordable sectional title apartments and townhouses means that Centurion, remarkable in recent years for its upmarket lifestyle estates, is still an ideal option for first-time buyers.

Paul Greyling, principal of the local Chas Everitt International franchise, says the town’s sectional title properties have been popular among buy-to-let investors in recent years and that many are now coming back on to the market at good prices because the rentals that can be achieved do not cover the monthly home loan instalments at current interest rates...

Originally named after the Voortrekker leader Louis Trichardt, the town was recently renamed Makhado. It is a town in perfect harmony with its spectacular surroundings. Louis Trichardt is located at the foot of the densely forested Soutpansberg Range in a highly fertile, rapidly growing agricultural area...

>> View Properties in Makhado/Louis Trichardt
>> View Properties in Limpopo

Search for property in your area

Top mortgage originators are rewarded for dedication and commitment

What are the trademarks of a good bond origination consultant, one that is considered to be a top performer? Marsha Haupt, Betterbond director of sales, explains the qualities of a top performing origination consultant. “A good mortgage origination consultant maintains high standards of professionalism and reflects a professional image in all they do. Their general attitude towards work is characterised by integrity and a high degree of concern for quality as well as adhering to the codes laid down for the property industry...

The Property Manager provides you with a very extensive and detailed list of criteria which you can capture for your property listings and gives you the control to decide how you would want these properties to be displayed on the Internet

• Manage property for sale and previously sold
• Activate or deactivate Internet listings with immediate effect - no waiting!
  
• Keep track of your On Show and On Special properties and list them on your website
• Print and email multiple reports
• Unlimited number of pictures
• Keep a history database

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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