As expected the property industry was filled with comments
on the new interest rate. Herewith a few remarks on what was said;
For the rest of 2007, it appears that things will get worse
before they get better
Indeed the best advice currently is to drop your price and take
less profit, but equally, offer less than the asking price on
your next home to recoup your artificial - loss
Need to adjust from an economic fairyland to the real South
Africa
Residential property prices have hit a speed wobble, but rentals
are gathering momentum
Rode & Associates expects average national residential income
yields to start creeping up, unlike for non-residential stock,
it said in a newsletter earlier this week
a sure sign that high property prices and rising interest rates
are starting to have an impact is "the recovery of the rental
market which has been soft for some time", said Jawitz
Another interest rate increase with more pressure on the family
wallet
I
read this week that the property businessis also
a big show business and how true is this not. I still have memories
of seeing my home for the first time. A Sunday afternoon,
peace and tranquility, the fire place burning in the lounge and
I knew, this is my home. I wanted it!
According to Cori Quinton of Cori Quinton Interiors, "Home
staging is not purely about the smell of home baked cookies
in the kitchen or newly planted petunias at the front door
it is rather a holistic approach to magnifying a homes positive
features and improving its presentation, by seeing it through the
eyes of the buyer in a competitive market place." News
from IAFRICA
In our CyberProp
Blog we look at how to show your house in the right light.
>> Real Estate News - Finding
value in the market mess
A commentary at Gold Seek analyses what investments look best as the
Federal Reserve does its best to deflect deflation:
With the U.S. Fed confirming its resolve to avoid deflation and
exacerbating the unwinding of the real estate boom, investors have a narrow
window right now to position into companies that are well positioned to
lead the recovery of confidence...
>> Property to turn: Loos
The
dip in the South African residential property market, which started late
in 2004, would begin to turn for the better towards the middle of next
year, a property expert said.
"On the balance of things, it would appear that the residential
property downturn still has a little way to go before things turn for
the better," wrote John Loos, a property strategist at FNB, in the
Residential Property Market Q3 Update...
>> Real estate myth busted
Rising
property prices have convinced many sellers they have to sell at high
prices in order to be able to afford another property.
But this is no longer true in the current market, says Conrad
de Swardt, who owns a string of 16 Homenet real estate offices throughout
the Western Cape.
Prices in the region are rapidly stabilising as more and more sellers
are lowering unrealistic expectations regarding selling prices, simply
because that is what the market now demands...
>> Keeping a lid on housing shortfall
WITH
the percentage of South Africans living in squatter shacks remaining static
over the past three years at 11%, it appears that government and private
sector efforts to alleviate the severe housing shortage are at least keeping
the problem at bay.
The percentage has remained steady despite population growth and high
urbanisation rates.
Nevertheless, according to research conducted by TNS Research Surveys
on behalf of the FinMark Trust, a lot still needs to be done before SA
starts making real headway.
>> Is this a good time to buy a home?
Buying
a home if you expect to sell it within two years is a risk, especially
in an uncertain market, because there are quite steep costs associated
with selling.
But most buyers live in their new home for an average of five years or
more and if that fits you, it almost always makes sense to buy rather
than rent, in practically any market, says Berry Everitt, MD of the Chas
Everitt International property group...
>> Need to adjust from an economic fairyland to the real South
Africa
THE
turmoil on stock markets in the recent week as well as the recent increase
in the prime lending rate raise the important question of expectations
in business.
Young people, black and white, who grew up under conditions of upward
social mobility over the last 10 years slowly start to assume that up
is the only possible economic way.
Estate agents and their commission earning attorney friends start to
think property prices can only rise...
>> Diamond class puts sparkle in La Lucia property market
The
upwardly mobile black middle class has discovered the glamorous lifestyle
in KZNs La Lucia.
Top earners in the newly empowered black middle class, known as
black diamonds, are very active in the area right now, says Michelle
Ellis, area specialist at the Chas Everitt International office in Umhlanga.
>> Focus on St Lucia, KwaZulu Natal, South Africa
St
Lucia acts as a base to explore a surrounding countryside like no other
in the country.
The wetlands, swamps, mangroves and lagoons making up the town's environment
attract many eco-tourists and nature lovers...
Property marketing is essentially show business and independent
studies show that homes that are well staged secure higher selling prices,
in shorter time periods, with less inconvenience to sellers, says Barak
Geffen, executive director of Sotheby's International Realty South Africa.
That's why it's key for you to get your home just right in order to lure
potential buyers to take a closer look...
>> From the Cyberprop Blog
Show your house in the right light
If you're getting ready to put your house on the market you're probably
busy painting some of the dingy walls, shampooing your carpet, and clearing
the clutter. But be sure you add something else to your liststrategic
lighting.
With the right lighting, the look of a room can turn from mediocre to
sensational, making it look bigger, airier and more desirable...
>> Software at its best!
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