Weekly Newsletter
Thursday, 30 April, 2009
Property Search | Estate Agents | List your property

Edition 17 of 2009, Thursday, 30 April 2009

Dear Reader

It is becoming more obvious that the many economic conditions are no longer in a free fall. Soon the recession will be over.” This was a statement I found in an article on the current property market in the United States. If this comes a reality it can only mean back to business in South Africa. Will our inflation last or will it go beyond the 10% again? Will interest rates come down or will it not? At the darn of this new day I can only say, “I wish.. I wish I knew!”

Just when we thought we’ve heard it all there is something new, “swine flu”. Can this be a new threat for the property industry? We saw what an impact it had this week on the world markets when investors started to feel anxious over the impact the threat of an pandemic might have. The World Health Organisation has raised its flu alert to phase five out of six. South Africa, our government is confident that we will be able to handle any cases of swine flu, thus according to Themba Maseko, government spokesman. Another I wish.. I wish I knew? Send your views to news@cyberprop.com

According to Lanice Steward, MD of Anne Porter Knight Frank, too little knowledge on capital gains taxes on property is still causing potential property investors not to commit themselves to purchasing of property. They have the idea that property are more severely taxed than other profits. SA Residential property

Shaaheda Khan, Associate at Deneys Reitz Inc, tackles the new draft swimming pool by-laws for the City of Joburg, which have resulted in contradictory views being expressed by pool owners regarding practicality if implemented. Swimming pool laws: shape up or fill up, this article will briefly highlight the contents of the by-laws and various views expressed.

Having taken a knock late last year, the property market on the East Rand is now consolidating, with lower asking prices attracting buyers once more and a lag in development rebalancing the supply and demand equation. So says Patsy Pretorius, CEO of the Chas Everitt International group of franchises that cover Benoni, Brakpan, Springs and Nigel. In the area 1 – East Rand

Petrusburg, a rich agricultural centre, is situated 80km west of Bloemfontein on the R48. Petrusburg was named after Petrus Albertus Venter whose estate provided the money to buy the farm Diepfontein, on which the town was laid out in 1891 as a church and commercial centre for an extensive farming area. This is the town that we are focusing on this week, Petrusburg, Free State, South Africa

Enjoy!
The editor


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>> Real Estate news - Moz's tourism boom

The five-star lodge at this luxury bush and beach resort in Mozambique (overlooking Pemba Bay) is on the market for US$2.95-million.

World renowned for its pristine white sand beaches, rich coral reefs, virgin coastline and unique, exotic culture, Mozambique is rapidly becoming a magnet for tourists, particularly those from Southern Africa, Europe and the United States. In 2008 some 1.7-million tourists visited Mozambique, the bulk from neighbouring South Africa.

>> SA Residential property

Steward explains Capital Gains Tax

Following up on comments widely reported in the property press, Lanice Steward, MD of Anne Porter Knight Frank, has said that there are still some potential property investors who are reluctant to commit themselves to a property purchase because they have the idea that the capital gains on property are more severely taxed than other profits...

>> Auctions reflect positive reaction form rate cuts

CENTURION (April 28) – The first signs of the recent interest rate cuts of 2,5 percentage points is having a gradual, but positive effect on Centurion’s townhouse-dominated market, according to Nic van den Berg, Broker/Owner of RE/MAX Jowic, whose observations are based not on private sales, but on recent local real estate auctions.

A key market pointer from his observations of auctions is that the average knock-down prices on homes in March were 10 to 15 percent higher than in the previous two months, which he attributes to the 2,5 percentage rate cut since December now filtering through to buyers pockets...

>> Nothing to worry about folks

The ANC has been on a global charm offensive, insisting that South Africa's conservative financial policies will remain in effect.

There's an old chestnut about the power of global financial markets that is attributed to James Carville, a one-time adviser to President Bill Clinton.

Back in 1992, Carville famously said "I used to think if there was reincarnation, I wanted to come back as the president or the pope or a .400 baseball hitter. But now I want to come back as the bond market. You can intimidate everybody...

>> A Home Makeover with a Difference!

This exciting initiative, now in it's second year involves selecting a Children’s Home and giving them a Home Makeover, transforming them into bright, new, comfortable and stimulating home environments for the children who live there.

If you are interested in participating in this rewarding project or prepared to donate materials that can be used please contact the Chas Everitt office near you or Tracey Everitt...

>> Large homes raising top rentals

LARGE, expensive Cape homes bought before 2004 are now bringing in impressive rental returns, says Mike Greeff, chief executive of Greeff Properties.

"A surprising number of our clients are opting to rent out their homes rather than sell and the reasons for this are not difficult to understand," he says...

>> Swimming pool laws: shape up or fill up

Joburg’s anti-drowning legislation – fair or foul for property owners? Lawyer explains who is liable, rules.

Shaaheda Khan, Associate at Deneys Reitz Inc, tackles the new draft swimming pool by-laws for the City of Joburg, which have resulted in contradictory views being expressed by pool owners regarding practicality if implemented. This article will briefly highlight the contents of the by-laws and various views expressed...

>> Economic crunch hits CBD hotel project

The first major property development in the city has gone bust, in one of the clearest signs that Cape Town is not immune to the global economic meltdown.

The Phoenix Hotel in Strand Street, which would have been the subject of a R320-million development, will be auctioned on May 20 by Alliance Group, after the developers went into liquidation last year...

>> Best and worst office rentals

Old buildings in big demand in South Africa's CBDs. Cape Town, Johannesburg, Pretoria, Durban - latest A-Grade property rental stats.

South Africa's major Central Business Districts (CBDs) boast some of the priciest Grade A office buildings, commanding gross monthly rentals of as much as R145/m2.

According to the South African Property Owners Association (SAPOA) Vacancy Survey for the first quarter of 2009, in Cape Town's CBD the minimum gross monthly rental for Grade A offices is R70/m2 with maximum gross rentals of R145/m2...

>> Selling property: private sale vs estate agent

Property attorney gives some tips on different selling methods.

Savings in commission are an incentive to sell a home privately but the decision of whether or not to use an estate agent should be carefully considered.

While commission savings are attractive, estate agents are often able to secure a better price for you than you are able to by yourself as, amongst other benefits, they have access to an existing buyer base.

>> An agent's legal duties

Those selling property, particularly residential property, are often not aware that their agent is obliged legally and ethically to act primarily in their interest.

Pointing this out in a recent training session, Lanice Steward, MD of Anne Porter Knight Frank, told some of the company’s agents that the Estate Agency Affairs Act makes it crystal clear that the agent’s duty to the seller includes...

>> Advice to those planning to marry: Consider the legal options open to you

People about to marry should realise that the choice of the marriage contract which they enter into can have important implications regarding the ownership of the properties owned by one or both of the marriage partners.

This has recently been pointed out by Lanice Steward, MD of Anne Porter Knight Frank, as part of an intensive training programme recently undergone by APKF’s agents.

>> To the editor

Last week we placed the following email received from one of our readers;

Buy rental insurance. If your tenant absconds you are covered for a certain period of time. I have discovered two companies that offer rental insurance: one has pure insurance and the other is a company that handles the rentals as well” Please give me more information on rental insurance for my investment properties. Vikki Mamvura-gava, Windhoek, Namibia

In answer we received the following;

Hi – I know that one of the Hollard affiliates offers rental insurance and it may be best for the client to contact Hollard directly – the one company that does this via Hollard is TenRisk at www.tenrisk.co.za .

Peter Hewett
BCom, CAIB(SA), CFP, CEA
Financial Consultant
Private Wealth Management
Old Mutual South Africa - Licensed Financial Service Provider
Telephone: 011 3226300
phewett@oldmutual.com
www.oldmutual.co.za

The next email was also placed;

I would like to find out what is happening with estate agent Sun Homes? Can somebody from the institute of estate agents in Western Cape please explain. I would really appreciate it.

Hajra

From the editor;

Hajra unfortunately we received no response from Mr. Ivan Neethling’s, Chairman of the Western Cape branch of the Institute of Estate Agents.

To the editor;

What if a Landlord doesn't want to give Security deposit back, Vicky, Cape Town

From the editor;

If you have an answer for Vicky send as your response.

Send your viewpoints or comments on any of the articles, or questions you may have to news@cyberprop.com

>> News from Chas Everitt

Lack of lending fuels rent hikes in City Bowl

Rentals in the popular City Bowl area of Cape Town are escalating rapidly as strict bank lending protocols take the wind out of potential buyers’ sails.

So says Yazid Khan, letting agent for the Chas Everitt International franchise in the area, who notes that many of those keen to buy property in the City Bowl are having trouble qualifying for the home loans they would need...

>> In the area...

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

  • East Rand
  • KZN coalfields
  • Fishhoek
>> In the area 1 – East Rand

Having taken a knock late last year, the property market on the East Rand is now consolidating, with lower asking prices attracting buyers once more and a lag in development rebalancing the supply and demand equation.

So says Patsy Pretorius, CEO of the Chas Everitt International group of franchises that cover Benoni, Brakpan, Springs and Nigel. “Enquiries and activity at show houses are definitely up in response to the interest rate decreases, and sales are occurring although the banks’ new lending and deposit criteria are playing havoc and we’re hoping there will be a softening of these policies shortly...

>> In the area 2 – KZN coalfields

The demand for property in northern KwaZulu-Natal towns such as Dundee and Glencoe is holding its own, thanks to lower prices and diversification of the local economy.

That’s the news from Anthon Raubenheimer, principal of leading local agency Homenet Raubie, who says that although coal mining was once the keystone of the local economy, it has now “taken a bit of a back seat, along with agriculture...

 

>> In the area 3 – Fishhoek

The Fishhoek property market has experienced a spate of activity in recent weeks as enquiries and sales steadily increase.

So says Lorna Stiger, sales agent for leading local agency Harcourts Maynard Burgoyne, who notes that the recent interest rate cut and the possibility of further reductions has galvanised buyers into action.

Properties priced around R1m are proving the most popular currently and showhouse interest is increasing. The rental market is brisk with stock being rapidly depleted...

>> Focus on Petrusburg, Free State, South Africa

Petrusburg, a rich agricultural centre, is situated 80km west of Bloemfontein on the R48.

Petrusburg was named after Petrus Albertus Venter whose estate provided the money to buy the farm Diepfontein, on which the town was laid out in 1891 as a church and commercial centre for an extensive farming area.

>> View Properties in Petrusburg
>> View Properties in the Free State

>> Property of the week

Free State, Petrusburg

Bedrooms: 5
Bathrooms: 2.5
Garages: 2

Search for property in your area

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>> Sevens is coming to Hazeldean

A spectacular new Sevens furniture store which will incorporate a Pappachino’s family restaurant is being built in the burgeoning Hazeldean precinct to the east of Pretoria.

The R25m double-volume Sevens building represents the first phase of Hazeldean Homeworld, a new décor and lifestyle centre which is already taking shape on the corner of Silver Lakes Road and Lynnwood Road extension.

This will, says Jurgens Prinsloo of developer Abland, significantly enhance the retail experience for the residents of Hazeldean, which already has a shopping centre anchored by Pick ‘n Pay and Woolworths Foods and boasting a good variety of restaurants and convenience stores...

>> Software at its best!

At CyberAgent we believe that SMS technology plays a vital role in the real estate office therefore we have 5 different SMS offerings.

SMS to agents

There is a facility on each property that allows the prospective client to send an SMS to the property’s agent

5 Free SMS messages daily

There is a free SMS facility that is for the use of anyone who visits your website. Why? So that we can help you to attract clients to your website

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 “WWW” with 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

SMS facility in CyberAgent

You can subscribe to the SMS facility in CyberAgent. This allows you to SMS your contacts and your agents

NEW! SMS facility application

We now also cater for a free standing SMS module

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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