Weekly Newsletter
Friday, 24 August 2007
Property Search | Estate Agents | List your property

Edition 33 of 2007, Friday, 24 August 2007

Dear Reader

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 business is 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 home’s 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.

The editor


>> 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 KZN’s 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...

>> View Properties in St Lucia
>> View Properties in KwaZulu Natal

>> Property of the week

KwaZulu Natal, Umhlanga, La Lucia Ridge

Bedrooms 5
Bathrooms 4
Garages 2

Search for property in your area

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>> News from - iAfrica

'Stage' your home right

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 list—strategic 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
  • 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

For Sale Property:
Eastern Cape Freestate Gauteng Kwazulu Natal Mpumalanga North West Northern Cape Northern Province Western Cape

To Rent Property:
Eastern Cape
Gauteng Kwazulu Natal North West Western Cape