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Weekly Property News
Friday, 18 September, 2009 |
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FROM THE EDITOR |
The International Monetary Fund has declared that global
recovery has started. Three big countries, Japan, France and
Germany have recently exited from recession and it seems that
the US will follow shortly. Federal Reserve chairman Ben Bernanke
said Tuesday the US recession "is very likely over".
Recovery in the property industry in South Africa is
for sure on its way and our newsletter is filled with good
news this week;
- Signs of global real estate recovery
- A few rays start to shine on SA real estate
- Property market indicators turn positive
- South Africa property boost 'good news for international
market'
Headlines: Last week we reported that the August oobarometer
price index recorded an increase in year-on-year house prices
of 6.9 percent. This week the US housing starts and permits
rose in August to their highest level in 9 months. This is
indeed good evidence that a solid a solid economic recovery
was underway not only in the US but also in South Africa.
"I think we have reached a bottom in Western and Free
State. The provincial economies of Gauteng and the Eastern
Cape have not bottomed out, but I suspect a bottom within
the next few months." This according to Mike Schüssler
of economists.co.za. It is likely that we will experience
another interest rate cut still this year.
Market update: Speakers at this year’s popular
annual Rode Property events countrywide had stern predictions
for both residential and non-residential markets, with participants
debating whether or not the 'green shoots' starting to appear
in various sectors of the market are revealing any real indication
of an upswing from rock bottom. Property: The road ahead
Marketing focus: Property websites receive record
number of visits. You can nominate our property portal CyberProp.com
for the 2009 E-Commerce awards as your favorite property portal.
Nominate Us Now
Recent statistics have shown worrying trends. It seems as
of the number of residential property tenants not paying
their rent has increased to a startling 19% in the first quarter
of this year from 14% in the previous quarter. Fourteen percent
of tenants are paying late and 10% of tenants are only making
part payments. New insurance to cover property deposits
The Gem of the Overberg Region, world renowned for the natural
hot mineral water springs but also the historically and agriculturally
hub of the area and surrounded by magnificent natural beauty
and fynbos. This is Caledon; Focus on Caledon, Western
Cape, South Africa.
Enjoy!
The editor
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In
This Issue |
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Featured
Property |
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Western
Cape, Caledon
Property Type: House | Oldest dated house in excellent
condition in heritage street.
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CyberProp
Property Count: 18/09/2009 |
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Now |
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Properties for Sale: 134,555
Properties to Rent: 10,520
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Upcoming
Events |
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Real
Estate News International |
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Local
News |
| A
few rays start to shine on SA real estate |
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The local residential property market
was badly affected by the economic downturn, but
listed property investments, which are in commercial
and industrial property, have not suffered to the
same extent. Overall, the experts are cautiously
optimistic... |
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| Property:
the road ahead |
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Speakers at this year’s popular
annual Rode Property events countrywide had stern
predictions for both residential and non-residential
markets, with participants debating whether or not
the 'green shoots' starting to appear in various
sectors of the market are revealing any real indication
of an upswing from rock bottom... |
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| Fixing
bond rates could make life easier for struggling bond
payers |
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ABSA Bank’s decision to offer bondholders
a fixed 14% rate for five years could provide
the peace of mind that the nervous or poorly resourced
property investor is looking for, said Bill Rawson,
Chairman of Rawson Properties – it could
also, he said, open the door to negotiations with
other banks to offer similar long term agreements
on better rates...
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| New
insurance to cover property deposits |
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Residential tenants pay 35%, insurance guarantees
the rest.
Just Finance has announced the details of insurance
aimed at helping landlords with troublesome tenants.
Here are the details...
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| Make
those For Sale signs work for you |
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Much has been written lately about
For Sale signs - and how unsightly they can be if
there are no proper controls over where and when
they appear or how many agents may use... |
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| Go
for ‘green’ demolition and save |
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It is becoming more and more common to see large
old homes on big stands demolished to make way
for more modern homes, but for the sake of the
environment, homeowners, developers and builders
need to start thinking more carefully about the
rubble and waste that such activities generate...
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| Avoid
disputes on Offer to Purchase |
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Homebuyers should not recklessly sign an Offer
to Purchase (OTP) agreement without being sure
they can meet the associated financial commitments...
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| Safe
storage space for children’s care centre |
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The Sunrise Special Care Centre in Cape Town
now has a safe and secure storage space, in the
form of a revamped and repainted shipping container,
thanks to the fund for children’s welfare
operated by the Harcourts Africa real estate group...
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| Best
practice for construction projects |
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According to construction regulations, it is
the responsibility of property owners to ensure
that any contractor working on site complies with
the Occupational Health and Safety Act (OHSA)...
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| Eligibility
of trustees |
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Question:
May two people who live in the same unit act as
trustees of the body corporate...
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Focus
On |
Chas
Everitt plans extreme makeover for children’s home
The Chas Everitt International property group is gearing
up to give a section of the Durbanville Kinderhuis in Cape
Town an extreme makeover in October.
This follows the hugely successful revamp of the Kid’s
Haven on the Gauteng East Rand last year and forms part of
the group’s community involvement programme...
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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 - Nelspruit |
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Auctions popular in Nelspruit
According to Paddy Judd, Broker/Owner of RE/MAX
Classic Homes in Nelspruit, buyers are turning
to public and/or private auctions to purchase
property in the Mpumalanga area...
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| In
the Area 2 - Mauritius |
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1st Avenue – No. 1 La Plantation Marguery
- Mauritius, the most unique and sought after
address on the Black River west coast.
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To
the editor |
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To the editor:
Is a low offer a good idea?
Mike, Pretoria
From the editor:
While your low offer in a normal market
might be rejected immediately, in a buyer's
market a motivated seller will either accept
or make a counteroffer.
Full-price offers or above are more likely
to be accepted by the seller. But there
are other considerations involved:
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- Is the offer contingent upon anything,
such as the sale of the buyer's current
house? If so, a low offer, even at full
price, may not be as attractive as an offer
without that condition.
- Is the offer made on the house as is,
or does the buyer want the seller to make
some repairs or to lower the price instead?
- Is the offer all cash, meaning the buyer
has waived the financing contingency? If
so, then an offer at less than the asking
price may be more attractive to the seller
than a full-price offer with a financing
contingency.
Taken from Inman.com
Send us your comments to news@cyberprop.com
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| Safe
storage space for children’s care centre |
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The Sunrise Special Care Centre in Cape Town
now has a safe and secure storage space, in the
form of a revamped and repainted shipping container,
thanks to the fund for children’s welfare
operated by the Harcourts Africa real estate group...
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News
From |
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