Weekly Newsletter
Friday, 25 April 2008
Property Search | Estate Agents | List your property

Edition 16 of 2008, Friday, 25 April 2008

Dear Reader

Doom.. doomed? The word "doom" refers to "inevitable destruction or ruin". Looking at this and the property market one cannot help to wonder what is in stall for home owners. Currently there is a panic in the market. According to the reporters of Finweek realtors say South Africa's housing correction is far deeper and wider as anticipated and that the market could be heading for a crash.

Sellers needs to be patient, thus from Sameul Seeff, Seeff Property Group. According to him high interest rates and inflation are not the only factors determining property prices. A positive influence can be the build up to the 2010 Soccer World Cup and could be seen within the next year.

But in the mean time life goes on. What can we do to soften the blow of the current interest rates and that to come in the near future as predicted? Home owners can apply for the longest possible repayment period on their home. “Qualifying for a longer repayment period does not increase the amount of interest paid as this is charged on the outstanding balance of the loan each month, unlike vehicle finance where the full interest amount is paid first and the balance of the loan only reduces once all the interest is paid,” Ronell Killina, Amdec Property Developments, Head of bond origination.

Rates put brakes on car sales and not only on the sale of property - New vehicle sales fell by 17.5%, or 10 103 units, year-on-year in March to 47 778 units as higher interest rates continue to eat into buyers' pockets.

Have you had your home on the market for months and, despite having many show houses, and loads of people viewing your home during the week, you have not had an offer to purchase? BetterBond's tips to home buyers and sellers.

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, Focus on Caledon, Western Cape, South Africa.

Don't forget to visit our CyberProp Blog for more property news and views.

The editor


>> Real Estate News - Zimbabwe: Political Uncertainty Hits Real Estate Sector

THE political uncertainty prevailing in Zimbabwe has caught up with the real estate sector, which is currently inactivity as the nation awaits results of the March 29 presidential election.

Industry players who spoke to The Property Gazette, confirmed this week that the property market was inactive.

>> Correction... or crash?

There is panic on the home front in South Africa.

Industry players say the market’s been flooded with housing stock since January, raising concern that this country’s housing slump could be far more painful than had been anticipated.

Finweek reports this week that Realtors say South Africa’s housing correction is far deeper and far wider than generally perceived and that the market could even be heading for a crash...

>> House sales slump

It now takes 12 weeks and four days to sell a home

The number of new buyers who have entered the property market this year dropped by three percent — compared to the last four months of 2007.

The FNB Residential Property Barometer for the first quarter of this year was at the lowest point since its inception in 2003...

>> BEE Empowerment property developers says, "Find yourself an experienced partner"

Thabo Ngcobo, the CEO of Sahluma Properties, and Inframax Developments’ joint venture partner in their R55 million mixed use “The Lighthouse” project in the Umhlanga Gateway precinct, has advised other previously disadvantaged entrepreneurs coming into property development to do as he did – team up with an experienced and reliable partner who is prepared to coach all along the line...

>> Property swaps: ditching unwanted assets

Now you can swap real estate you don't want for a piece of eco-estate - new property exchange.

Now you can swap real estate you don't want for a piece of eco-estate that a developer doesn't want.

That's the deal being offered by a property bartering website, recently launched by a developer who says his aim is to diversify his own real estate portfolio...

>> First-time buyers must beware the hype

In the current property market, buyers are kingpins heavily courted by developers and estate agents alike - but first-time buyers in particular should take care not to be seduced into serious and potentially costly mistakes.

So says Berry Everitt, MD of the Chas Everitt International property group, who notes that in the excitement of hunting for a first home, many buyers become over-enthusiastic and run the risk of succumbing to “hype”, particularly in new developments where they may be subjected to high-pressure sales tactics...

>> News from - Nationlink Property Group

How to avoid the worst home sale traps

With the real estate market marking time before an expected upturn next year, now’s a good time to steer clear of some common mistakes that can easily block a property sale.

“Homebuyers and sellers are often their own worst enemies,” says Dr Piet Botha, chairman of the Nationlink estate agency group, “but in the current market climate they need to be especially careful to keep the sale process going smoothly...

>> Emigration could unlock SA’s struggling affordable market

JOHANNESBURG (April 24) – South African financial information website Fin24 reported recently that thousands of South Africans are once again considering leaving the country in search of a better life.

Most, according to a media release from real estate franchise Realty 1 International, advance crime as their main reason for leaving, but the current uncertainty over the future leadership of the country, the deteriorating infrastructure and the high interest rates are equally pertinent to the decisions being made. On top of this, the global demand for skilled workers in mostly first world countries offers an attractive opportunity to embattled South Africans...

>> Letters to the editor

In response to the article Property swaps: ditching unwanted assets, do you think swapping of property can work?

Send us your view point to news@cyberprop.com

>> Focus on Caledon, Western Cape, South Africa

Caledon, capital of the Overberg, and one of the seven oldest towns in South Africa, lies at the foot of the Klein Swartberg. It is known for its natural mineral waters, hot springs and wild flower show.

Caledon Casino, Hotel & Spa An elegant hotel and spa graces the site of the hot water springs offering the benefits of the spa water, casino, sporting facilities and true country hospitality...

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

>> Property of the week

1.74ha with 2 bedroom cottage. Jetmaster in living room. Bathroom and kitchen. Barn. Single garage with entry into house. Second cottage. This small holding has lots of potential. Water not a problem - river frontage. 2 x 15000 Water Tanks pumped from river. Dams. The neighbours are horse people. Situated in this rural community this small holding would make a delightful weekend retreat with lots of hills and dales for outrides...

Search for property in your area

Enter City/Suburb:
>> BetterBond's tips to home buyers and sellers

Why is your home not selling?

Have you had your home on the market for months and, despite having many showhouses, and loads of people viewing your home during the week, you have not had an offer to purchase?

When it is a buyer’s market, you have to make sure that your home stands out amongst all the other homes that are for sale in your area. Why should a potential buyer choose your home?

If you are serious about selling your home, there may be some changes you have to make and it won’t cost an arm and a leg.

We mentioned the importance of good photography in the previous newsletter. Remember the potential buyer wants to see how big a room is, so make sure you show the space. Don’t take a photo close-up unless it is a particular selling feature.

If your carpets are a little grubby, have them cleaned. It only costs in the area of R250 – R500 to clean and will make a big difference. Look in your local newspaper or Yellow Pages for service providers in your area.

Paint your walls a neutral colour, not white. Go for the creams and beiges. It may look boring to you, but you have to take your personality out of the house. The buyer needs to see him/herself living in your home. If the wooden doors are dull or faded – give them a coat of varnish. If the melamine kitchen cupboards are scuffed at the bottom, particularly those below the sink, replace them – it is not expensive.

If you have any cracks in the walls, fill them in before painting. ‘It’s easy – I know, because I have done it myself’ says Cheryl Marais, Direct Marketing Manager for Betterbond.

Give your home a thorough cleaning. It will get rid of any smells that we all get used to in our own homes.

Find out what price other similar homes in your area are selling for and consider pricing your home slightly lower. If you are not happy with that price, then you may have to consider taking your home off the market. Overpricing is definitely the worst mistake if you’re serious about selling.

Article by: Cheryl Marais – Direct Marketing Manager - Betterbond

>> Software at its best!
CyberAgent makes canvassing easy! Use data from SAPTG, CyberTrade and the Deeds office to do mail drops!
CyberAgent enables the estate agent to manage buyers and sellers, sending them birthday cards, emails etc.
CyberAgent enables the estate agent to manage properties and print great reports with a click of a button.
CyberAgent enables the estate agency to keep track of sales related commissions, VAT, outstanding payments and more...
CyberAgent links with the transfer attorneys, send and monitor transfers electronically!
Get your own dynamic web site linked to CyberAgent. Work OFFLINE!!! Only go online when updating your web site.

Great exposure! Through your CyberAgent application all properties updated to your site are also sent to:

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 Limpopo
Western Cape

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