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Weekly Newsletter
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Friday, 29 August, 2008
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“This event, less than two years away, will draw an estimated one million or more visitors to this country,” says Tjaart van der Walt, CEO of the RealNet property group, “and will have a major effect on our real estate market...
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| >> Global downturn affecting all sectors of the property industry in South Africa |
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The first signs of an increase in failed property sales are emerging. This is because buyers cannot secure funds, according to mortgage company Ooba. 'We have seen a number of offers to purchase falling through of late, because potential buyers are not able to get the finance they need after they have had their offers accepted," said Manager Jenny Rushin...
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| >> Some boom amidst gloom |
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"It’s not all 'doom and gloom' across the entire real estate sector," confirms Dieter Deppisch, SAPTG National Training Manager. "While certain segments within specific areas in South Africa have experienced a fall in prices, there is reason to believe that trading conditions will become bullish in the short-term...
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| >> Property buyers ‘back in market’ |
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Rael Levitt, CEO of The Alliance Group, says trading on the group’s auction floors this month throughout the country has seen the strongest investor appetite in more than a year...
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| >> Selling property at a loss? |
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If the taxpayer bought the property for speculation, the loss may be allowed as a deduction for normal income tax and CGT would not enter the equation. This would obviously be of benefit for the taxpayer, who would be able to set this loss off against other taxable income for the year. However, the taxpayer would have to jump through a number of hoops before the loss would be allowed on revenue account...
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| >> How to house hunt in a buyers’ market |
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So says Martin Schultheiss, CEO of the giant Homenet estate agency group, who notes that first-time buyers especially would do well even now to prepare before setting out on a househunt...
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| >> Call for more building protection |
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Regulations governing home building standards need to be drastically overhauled to adequately protect the multimillion rand investments of homeowners, says a leading property expert. “We have all seen and heard the horror stories of newly built homes needing major repair work within months of being completed. Short cuts and sub-standard work appears to be increasingly widespread...
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| >> Wired for convenience |
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And while it is certainly an advantage to get a look that suits your lifestyle, says Martin Schultheiss, CEO of the giant Homenet estate agency group, it’s not the biggest one. “In the excitement of choosing fittings and fixtures, buyers may overlook an even greater benefit – the choice of where the wiring goes. It is much easier to specify power points during construction than to have to chip away your chosen wall tiles to install additional connections later,” he says...
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| >> To the editor |
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Sadly, what your neighbour does or does not do to his property will affect the market value of your own property, so while you may turn a blind eye to unkempt gardens and flaking paint in the interests of keeping the neighbourhood peace, you should know that such forbearance may well hit you in the pocket should you wish to sell your property. The reason is, quite simply, that potential buyers do not look at your house in isolation – the whole neighbourhood will have an impact on their decision and not many would choose to live next door to a dump, notes Berry Everitt, MD of the Chas Everitt International property group. “On the other hand, approaching the offending neighbour out of the blue after putting up with his neglect for years can be uncomfortable, to say the least, even if it is in your own best financial interests.” However, he says, neglect is usually due to a lack of either time or money and if you can find out which and amicably discuss it with your neighbour, you may be halfway to a solution. Writing in the Property Signposts newsletter, Everitt suggests that you could offer to help pay for a garden cleanup, for instance, or to lend a hand with painting, and says that while you may think it a bit extreme to have to invest money or labour in a neighbouring property, the chances are that you will amply recoup the cost of your efforts through a better selling price for your property. “And if you are not confident enough to ‘go it alone’, try to enlist the support of others in your street or on your block. You may well find that they have similar concerns about the effect of the neglected property on the value of their homes and are prepared to co-operate with you to get it cleaned up.” He says you can of course appeal to your municipality if negotiations stall, but should remember that officials will usually only act on health and safety concerns – “they are unlikely to be helpful if the only complaint is flaking paint, a sagging boundary wall or tall weeds on the pavement.”
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>> News from - Nationlink Property Group |
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It may be more difficult to obtain a home loan now but it is still possible. There is still money available for those with substantial deposits, good credit records and reliable incomes. However, says Nationlink estate agency group chairman Dr Piet Botha, home loan applicants can take nothing for granted at the moment. Even if they think they’re in good financial shape they should be prepared to get the runaround from very cautious lenders...
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| Fairest Cape comes to Sandton |
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Gauteng buyers who want to semigrate to the laid-back Cape lifestyle can take their pick of top properties at an exhibition running until 1 September at Sandton City. The Chas Everitt International property group has a strong presence at the expo and its 26 offices across the Western Cape are showcasing a wide selection of apartments, upmarket homes, farms, B&Bs and coastal residences...
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| >> Fifty percent of Northern Suburbs sales are cash driven |
CAPE TOWN (August 28) - Up to 50% of buyers are now paying cash when purchasing properties in Cape Town’s northern suburbs, according to a RealNet company media release. Mariana Vercueil of the local RealNet office reports that the property market in the area is livelier than in months. “But the most surprising element is that we are seeing droves of cash buyers – people who evidently see property as a good buy and prefer to invest in bricks and mortar rather than in stocks and bonds...
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| >> Woodstock’s historical buildings adapt with the times |
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Remarkable heritage property, Roodebloem Manor, situated in Cape Town’s vibrant suburb of Woodstock, which has been revived as the gracious headquarters of leading accounting firm, Moore Stephens, reflects the rapid upgrading of this quaint area as the demand for commercial and residential property close to the city intensifies...
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| >> Focus on, Gansbaai, Western Cape, South Africa |
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From June through December, Gansbaai becomes home to the Southern Right Whale. This coastline and the many bays then become the breeding area for these giants of the Oceans... >>
View Properties in Western Cape
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| >> Property of the week |
Search for property in your area |
| >> BetterBond's tips to home buyers and sellers |
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When you walk into a house and something simply doesn’t feel right, it might be because of a bad layout design. This is not something that is easily corrected and you may have to spend a lot of money to correct it. This article examines some common bad layout designs that you should look out for when searching for your new home. On entering a home, being greeted by a stairway is off-putting to most people. For those who follow the ancient Chinese tradition of Feng Shui, a staircase located directly in front of the entrance lets a home’s energy escape. Stairways that curve, are wide, well lit and off to the side are more acceptable. Many buyers will make up their minds within the first 30 seconds of entering a home, so attractive entrances are important. Long, narrow and dark entrances will turn the buyer away. Some homes have the dining room in the centre and all rooms are connected through multiple entrances to the dining room. In this type of layout, you may have to walk through the lounge into the dining room. If you have to go through the dining room to get to the bedrooms, it is going to be an inconvenience navigating around the dining room table. Adjoining bedrooms may be great for younger children, but many buyers will consider the 2 bedrooms as one. Buyers expect a separate entrance to each bedroom. There is one thing that is definitely worse than staring down a long hallway from the entrance and that’s when there is a toilet at the end of it. Many older homes were built with the bathroom at the end of the hallway. High ceilings are beautiful architectural aspects, but they can cause a problem with heating. Heat rises, which means you are going to need more of it to warm a home with high ceilings. In older homes with high ceilings, you may need to consider how the heating issues are going to drain your cash flow during the winter months. This is particularly important with the rising energy costs. Buy a home with a layout design that suits your needs. More than one homeowner has found himself in the position of owning a home with a bad layout design, because they simply didn't know how to spot it when they first looked at the home. Finding your ideal home is not only a matter of a layout design that will suit your needs and provide a comfortable living space, but is also a matter of holding its own in terms of resale value, should you ever decide to sell. Article by: Cheryl Marais – Direct Marketing Manager - Betterbond
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| >> Software at its best! |
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For Sale Property: To Rent Property: |
This
week we bring the beautiful Western Cape, South Africa to you;
The
lights have dimmed in Beijing’s Bird’s Nest stadium and now
the spotlight is swinging south to focus on South Africa as it prepares
for the world’s next huge sporting extravaganza – the Soccer
World Cup in 2010.
The
downturn in global property markets is now hitting South Africa where
real estate agents report a significant slump.
With
the property market in a down phase at the moment, it’s certainly
not the ideal time to sell. However, if you are forced to sell you may
be faced with a loss. Tax Partner at Cameron & Prentice Chartered
Accountants, David Warneke, looks at the tax implications of losses on
property transactions.
What
to do about the blot on your landscape
CONSTANTIA
UPPER R10 950 000
The
Roodebloem Manor as it stands today – a beautiful example of the
magnificent architecture of a time gone by.
Gansbaai
nestles at the foot of Duyenefontein Mountains, and boasts a beautiful
coastline with magnificent "Fynbos" vegetation. It is the World
Capital of the Great White Shark, with Dyer Island presenting the best
place in the World to discover, observe and dive with these elusive and
wonderful animals.
Avoid
Buying a Home with a Bad Layout
