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 FROM
BERRY EVERITT
We are delighted that the latest Residential Property
Barometer from First National Bank shows that we are not alone in
experiencing a steady improvement in the market this year.
The report, based on a survey of scores of agents
around the country, shows that the demand for property was more
than 32% up in the first quarter of this year compared with the
same period of 2009 - and even better, that it is now taking just
over 3 months for a property to sell, compared with more than 5
months when the market was at its worst in the middle of 2009.
FNB also notes that the percentage of sellers who
did not achieve their asking price dropped from 89% to 76% between
December 2009 and March this year - and that the average difference
between asking and selling prices in such cases is now only around
11%.
On our own scale, if we take 2006 as the 100% market
benchmark, we reckon we are now at around 109%, following a dip
to around 85% last year.
And this month has of course brought even more
exciting news - the announcement by Human Settlements Minister Tokyo
Sexwale of the R1bn mortgage guarantee fund designed to stimulate
bank lending to people earning between R3500 and R9000 a month -
many of whom have been in homeownership limbo for years because
they earned "too much" to qualify for State housing and
too little to qualify for a home loan.
We know there is enormous pent-up demand in this
sector of the market - which includes many teachers, nurses and
police personnel - and uncorking this through the establishment
of the fund will no doubt give the property recovery even more impetus
in the months ahead. Bravo, Mr Minister!
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| How
to make a profitable purchase |
Double
check insurance during occupation |
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If you're property wise, you'll be looking to make more "profit"
when you buy a home than when you sell it in future.
And the way to do this is develop an eye for homes in good
areas that may not look so great at the time of purchase but
have good profit potentia...
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If you've sold your home and agreed that the buyer can take
occupation before transfer is registered, it is important
to make sure that the property will remain properly insured
during the occupation period...
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| Home
businesses not all bad for HOAs |
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The issue of home-based businesses in security villages and
estates has become a tricky question for the bodies corporate
and home owners' associations (HOAs) that run such developments...
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| Selection of most viewed Properties for April 2010 |
| Constantia
- R 7,500,000 |
Randpark
Ridge - R 925,000 |
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| Diepkloof
- R 300,000 |
Fourways
- R 1,350,000 |
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| Constantia
- R 2,400,000 |
Stellenbosch
- R 55,100,000 |
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Turtle
Creek - R 4,900,000
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Bishopscourt
- R 10,000,000 |
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Every month the Property Signpost Newsletter
will be issued to all our subscribers, filled with real estate
information to help you make an informed decision, whether you are buying
or selling a property.
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Your Area Specialist:
Chas Everitt International sales agents have all
the latest market information regarding local property values at
their fingertips - and are committed to the highest standards of
personal service when it comes to selling your home. In addition,
the Chas Everitt International property group offers you, the homeowner,
the best possible exposure for your property in both national and
international markets. So if you are thinking of selling your home,
call your nearest Chas Everitt International office today for the
name of your local area specialist - or visit www.ChasEveritt.com
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