Weekly Newsletter
Friday, 27 October 2006
Property Search | Estate Agents | List your property

Edition 43 of 2006, Friday, 27 October, 2006

Dear Reader

Buying right is the secret to make a large profit in real estate. Researching available properties as per your needs and requirements and standard parameters like repossessions, foreclosures, distress sales, listings etc. would go a long way in achieving this goal. Most people look for bargains when buying property. One of the cheapest avenues is the repossessed market.

  • Real estate agents would always try to discourage you from repos and make you switch to multiple listed homes
  • Never listen to negative remarks about how difficult it is to find a good deal property
  • Even at the boom times (when houses sell in less than three weeks), it is possible to find good bargains
  • The Internet is a very good resource to find such listings on time
  • Inspect the repossessed property with a fine toothcomb

But be warned when buying repossessed properties. The savings and hassles of repossessed properties by Moneyweb

"Another major cause of market stagnation at the moment is the unwillingness of many buyers to commit to a home purchase, in the mistaken belief that everything is overpriced and that they should thus a) withdraw from the market until sellers “come to their senses” and prices come down or b) make every offer a lowball offer “on principle”" This according Mr. Dave Rogers MD of the Homenet Group. Buyers are unwilling to commit to a home purchase

Founded in 1745 at the foot of the Langeberg Mountain Range. A charming town, famous for its youngberries, eclectic architecture and National Parks, as well as outdoor activities. Nestling at the foot of the picturesque Langeberg Mountains, Swellendam has much to offer visitors who have an interest in history, nature and outdoor activities. Focus on Swellendam, Western Cape, South Africa

The term Halloween, and its older spelling Hallowe'en, is shortened from All-hallow-evening. Halloween is also called Pooky Night in some parts of Ireland. Halloween is a tradition celebrated on the night of October 31, most notably by children dressing in costumes and going door-to-door collecting sweets. This week in Have Fun we share some tips for carving pumpkins.

Enjoy!
The editor


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>> Real Estate News – Residential building costs set to soar

Rising interest rates and the uncertainty of more to come have dealt the residential property market a low blow, but the real villain of the peace for buyers in new residential developments and particularly first-time buyers is building cost inflation, according to Richard Thomas, Divisional Director of Nedbank’s Property Finance KZN.

Thomas presented a theoretically but overwhelmingly powerful case for aspirant homeowners to purchase with urgency if they were to avoid spiralling building costs in his recent address in Durban on the KZN property sector, according to an article in the October 22 Sunday Tribune Property Guide....

>> The savings and hassles of repossessed properties

Most people look for bargains when buying property. One of the cheapest avenues is the repossessed market but be warned.

Savings
The biggest advantage is that you don’t have to pay transfer duties since the bank, as the seller, has to pay VAT on the sale of the property. By not paying transfer duties, you can save thousands of rands but you still have to pay attorney’s fees for registering the property in your name as well as bond fees...

>> Irish to build houses for Cape shack dwellers

A construction blitz by a team of Irish volunteer builders plans to put up 50 houses in a week in a township in Cape Town later this month, the charity involved said on Thursday.

Millionaire property developer Niall Mellon, who set up his Township Trust in 2002, will head an operation that will take 350 builders to the Mfuleni township.

The trust is working in three Cape Town townships: Imizamo Yethu in Hout Bay, Netreg close to the airport and Mfuleni on the outskirts of the city...

>> Focus on Swellendam, Western Cape, South Africa

Nestling at the foot of the picturesque Langeberg Mountains, Swellendam has much to offer visitors who have an interest in history, nature and outdoor activities. Situated on the N2, approximately 240 km from both Cape Town and George, Swellendam is the perfect choice for a halfway stopover or as a base from which to explore the area...

>> View Properties in the Western Cape
>> View Properties in Swellendam

>> Property of the week

Western Cape, Swellendam

Bedrooms: 3
Bathrooms: 3
Garages: 2

Most brilliant opportunity for family living! This riverside home set in a tranquil riverside garden is placed over 3 stands which lends itself to a sub-dividing opportunity or conversion into a guest house!

Search for property in your area

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>> Buyers are unwilling to commit to a home purchase

Much has been said about the effect on the market of overpricing, mainly caused by home sellers failing to react fast enough to market changes, and often underpinned by inexperienced or unscrupulous agents failing to given them the correct information and advice.

However, another major cause of market stagnation at the moment is the unwillingness of many buyers to commit to a home purchase, in the mistaken belief that everything is overpriced and that they should thus a) withdraw from the market until sellers “come to their senses” and prices come down or b) make every offer a lowball offer “on principle”...

>> Don’t buy a Bed & Breakfast

Don’t buy a Bed & Breakfast if you want to make money out of the 2010 Soccer world Cup, warns Neville Schaefer, Chairman of national residential letting company Trafalgar.

“You will make money from the types of property that make you money without a world cup – only more so,” he adds. “So don’t run around looking for a short term pot of gold...

>> News from Homenet Select

Gautrain Signals Good Prospects for Rosebank Property Market

Rosebank can look forward to a new golden age of property growth and opportunity, courtesy of the Gautrain mass transit system.

So says John Byrne of leading local agency Homenet Select, who dismisses a more skeptical view and points out that the rapid transit system is likely to bring about renewed demand for commercial property in the area which will have a knock-on effect on residential demand and prices.

“Central to this positive impact is the advent of a ‘commuter culture’ in Rosebank, which if properly managed, will be broadly positive for the property market.”

Byrne believes Rosebank will evolve much as popular commuter areas did in the UK, where residential and commercial development sprang up along the rail routes.

“With the impetus provided by Gautrain, there will be a significant rejuvenation of the demand for office and residential space in the area, which will become a base for onward commuting to other destinations on the Gautrain network and, for that matter, a destination in itself.

“Indeed Rosebank has already been identified by the Johannesburg metro authorities as one of nine priority areas for the rationalization and maximization of existing infrastructure, so watch this space…”


Issued by Homenet Select

>> Have Fun - Happy Halloween!

Professional food sculptor Nancy Maurer shares tips for carving pumpkins.

Instead of carving chunks out of a pumpkin, use a round wood chisel to remove the outer skin of a pumpkin. The yellow rind will glow nicely once the candle has been placed inside the pumpkin...

>> 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


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