Weekly Property News
Friday, 18 September, 2009
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

In This Issue
Featured Property

Western Cape, Caledon

Property Type: House | Oldest dated house in excellent condition in heritage street.


CyberProp Property Count: 18/09/2009

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Properties for Sale: 134,555
Properties to Rent: 10,520

Upcoming Events

Real Estate News International

Preparing for Long Term Economic Growth

Sectors Will Drive Real Estate Markets, Financing & Innovation

In some respects the global economic slowdown and the crisis in the financial markets, and its impact on real estate assets and financing, has been a blessing in disguise...

Signs Of A Global Real Estate Recovery
Although the overall environment remains weak, several more countries are entering into recovery. These countries have shown positive growth for the first time this year and may lead the way for more countries to emerge from the decline...
Local News

A few rays start to shine on SA real estate
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...

Property market indicators turn positive

Many different indicators are pointing upwards for the property market, suggesting that the worst may really be over...


South Africa property boost 'good news for international market'

A real estate expert has said a surge in interest in South African houses suggests confidence is returning to the overseas property market...


Property: the road ahead
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...

Fixing bond rates could make life easier for struggling bond payers

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...


New insurance to cover property deposits

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...


Make those For Sale signs work for you
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...

Buyer, beware that voetstoots clause

A recent Supreme Court judgment has once again underlined the risks involved in buying a property voetstoots, or “as is”...

Landlord's holding costs on property likely to increase as a result of new municipal wage scales

Tenants should opt for longer leases

It is, says Bill Rawson, Chairman of Rawson Properties, a little ironical that some of the largest annual wage increases ever seen in SA have, as a result of strikes, been pushed through at a time when the business sector is experiencing recessionary or near-recession conditions...


Go for ‘green’ demolition and save

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...


Avoid disputes on Offer to Purchase

Homebuyers should not recklessly sign an Offer to Purchase (OTP) agreement without being sure they can meet the associated financial commitments...


"Hosting" a cell phone transmission mast is a great way to get additional income

Anton du Plessis, Chief Executive of Vineyard Estates, pointed out recently that any property with an MTN/Vodacom transmission mast on it is always paid a substantial monthly rental – frequently more than R10,000 per month...


Safe storage space for children’s care centre

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...


Best practice for construction projects

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)...


Eligibility of trustees

Question:
May two people who live in the same unit act as trustees of the body corporate...



Focus On

Focus on Caledon, Western Cape, South Africa

The Gem of the Overberg Region, world renowned for the natural hot mineral water springs, but also a historically and agriculturally the hub of the area, surrounded by magnificent natural beauty and fynbos.

>> View Properties in Caledon
>> View Properties in the Western Cape


Chas Everitt Home MakeOver

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...

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

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Enter City/Suburb:

In the Area

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

  • Nelspruit
  • Mauritius
In the Area 1 - Nelspruit

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...


In the Area 2 - Mauritius

1st Avenue – No. 1 La Plantation Marguery - Mauritius, the most unique and sought after address on the Black River west coast.


To the editor
 

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:

- 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


Safe storage space for children’s care centre

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...


News From

Institute of Estate Agents - Cape Peninsula committee chairman calls for more input to propstats register

Propstats, the register of all residential property transactions in the Western Cape, now has some 12 000 entries, says Anton du Plessis, the Chairman of the Institute’s Cape Peninsula Committee...

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