THE global credit crisis took a dramatic twist in recent months, triggering intense panic among investors, throwing equity markets worldwide in a tailspin and forcing unprecedented government and central bank intervention in most industrialised countries.

SA was not entirely spared. The global selling frenzy left our equities, bonds and currency bruised. While some of the panic in the markets is starting to ease, the effect on the world economy is only beginning to emerge...

Tony Clarke, MD Of Rawson Properties, says that a prediction made ten weeks ago about the likely performance of interest rates remains fundamentally valid.

Clarke said in a statement that appears in the Rawson Properties online franchisees newsletter (www.rawsonfranchisees.co.za) that he expects at least a 10% drop in the rates in early 2009...

Towards October this year it was bandied about that the Reserve bank might lower interest rates before year end and now it looks as if it might only happen in 6 to 8 months time. My first impression is to think that our reserve bank is very greedy in that almost nowhere in the world is a housing interest rate anywhere near this berserk level and stability in the housing market is almost exponentially responsible for a stable society, thus playing a pivotal role.

Surely property interest rates, relating to property in South Africa, for South Africans, should be handled in a manner totally divorced from commercial ventures and pertaining only to stable housing. As a non resident another scheme would have to be considered. I believe this might, possibly, help to negate xenophobia and it is perfectly fair to treat South Africans in a preferential manner...

Although we now have the National Credit Act — a piece of legislation that commentators generally view in a very positive light — there are still hordes of South Africans mired in debt and overspending problems. Nowhere is this more obvious, says Tony Clarke, MD of Rawson Properties, than in the housing market where many individuals who should be able to afford a home and qualify for a bond simply cannot do so as a result of overspending elsewhere.

Upwardly mobile, but mired in debt...

In these more difficult economic times sellers of homes will be tempted to go the do-it-yourself route and save on agent’s commission – but, says Lanice Steward, MD of Anne Porter Knight Frank, all her experience in property indicates that this can be disastrous.

“There is a considerable propaganda now in favour of going it alone with the help of private seller organisations and a perception in some circles that using them will result in a better price...

This is not the time to try to sell your house without the help of a professional agent.

That’s the unequivocal word from Tjaart van der Walt, CEO of the RealNet estate agency group, who notes that in boom times, when there are more buyers than sellers and properties for sale are being snapped up within days, there is room for private sellers...

Owners of rental properties should be wary of becoming too strict in their acceptance or otherwise of prospective tenants’ credit credentials and should make use of the full gamut of credit check mechanisms available to them.

Gerhard Kotzé. CEO of the ERA South Africa property group, makes the comments in the wake of delays to proposed legislation which would have amended the Prevention of Illegal Eviction and Unlawful Occupation (PIE) Act...

Financial advice: bonus or bull?

It's time to ditch advisers, financial services' product-floggers. Go-it- alone by investing directly in shares, property. Your bonus can help.

"Bonus? What bonus?"- questions you may be asking as South Africa's economic growth dramatically pulls back and teeters on the precipice of negative numbers as we get ready for what looks likely to be another tough year...

To short sell in the stock market means the trader borrows stock (usually from his brokerage) and then sells it on to the market in the hope that the price will fall. He then buys back the stock and either making money if the price of the stock fell or losing money if the price rose. Some traders use this as a strategy to artificially lower the price of a stock. Would you like to do this in today’s property market? This was the question asked in last week’s newsletter;

The majority of the readers answered Yes

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

• Tzaneen
  
• Roodepoort
  
• Pretoria’s old east

Electricity supply problems boost Tzaneen property prices

Despite improved electricity supply, electricity approvals for new developments are hard to come by in Tzaneen, which is improving the sale prospects of the more affordable existing homes in the town...

Roodepoort has weathered the recent property storm better than most areas and local experts are predicting a good 12 months ahead for the West Rand town.

Werner van Schalkwyk, principal of the local Chas Everitt International franchise, says that property values in Roodepoort have been comparatively resilient in recent months, thanks mostly to ongoing commercial development that has underpinned housing demand...

Buyers return to Pretoria’s old east

Homeowners who previously sold properties in Pretoria’s “old East” in order to move to security developments on the city’s periphery are now returning to the long-established more central suburbs.

And Elsa van Schalkwyk, office manager at the RealNet office in Waterkloof, says many of the buyers coming back to Waterkloof, Brooklyn and Lynnwood cite the convenient location of these areas as the main reason for their about turn...

Tzaneen is the second largest town in the Limpopo situated at the foot of the imposing Wolkberg Mountains.

Within easy reach there are fascinating archaeological sites, mighty baobab trees, wildlife and nature reserves, as well as a superb range of tourism facilities. Situated below the scenic splendour of Magoebaskloof in a subtropical district, Tzaneen offers the visitor a change of scenery at almost every turn of the road...

>> View Properties in Tzaneen
>> View Properties in Limpopo

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JOHANNESBURG (November 20) – For homebuyers in the hit-for-six beleaguered affordable housing market meaningful financing relief is on the way from the Treasury financed National Finance Housing Corporation (NFHC).

Initiated by government in response to traditional home lenders failure to achieve state set lending targets in the affordable market the NFHC is in the process of gearing up to offer 100 percent homeloan packages of up to R400 000 plus a further ten percent of the loan value to cover transfer costs of ownership.

Cell Phone enquiries from the public

Buyers driving past your advertising boards will be able to see an unique Internet Number allocated to the specific property. They will then SMS that number to 35476 and will receive an SMS back with all the details of the property. At the same time the agent / agency will also be informed of a potential buyer. How's that for technology working for you! The cost - mahala! Free to all CyberAgent subscribers.

Here's a diagram on the way this process will work...

1. Agent captures the details of the property and pictures into CyberAgent
   
2. Agent updates the property to the Internet
   
3. The Internet server sends back a unique number for that property
   
4. Agent puts up his "For Sale" board together with our SMS board
   
5. Potential buyer sees the "SMS" board and SMS's the unique number to the Internet server
   
6. The Internet server sends back an SMS with all the property details and a link to the website where he/she can view pictures on the propert

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

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