Property Update 2018

April 2018

STEYN REALTY: PROPERTY UPDATE

What’s happening at Steyn Realty and in our Real Estate Market?

We are happy to announce that in 2018 we have seen an upward curve with regards to our Listings, Sales and Rentals. Our Showdays have been very well attended with anywhere from 10 to 20 couples visiting on a Sunday afternoon between 2 and 5pm (our normal show time). We have also sold many of our stock as a result of the show-day which means that we are attracting the serious buyers.

“List Right / Sell Quick” is a motto that we strive to achieve with every property we list. Listing at the right price, at the right time, with good quality photos, correct information and easy access to the property, is a recipe that works well for us. Some of our recent sales this year are perfect examples of this where we list a property, after detailed consultation with the Seller, and then get offers within days of listing. In some cases, we even have multiple buyers looking to make offers on the same property.

Below please find a list of properties, areas and price range that we have recently SOLD:

  1. Cedar View – Little Falls 3 Bed 2 bath simplex +/- R 1 000 000
  2. Poortview Villas – Amorosa 3 Bed 2.5 Bath duplex+/- R 1 600 000
  3. Oregon – Wilgeheuwel 3 Bed 2.5 Bath duplex+/- R 1 400 000
  4. Luderitz – Radiokop 3 Bed 2 Bath simplex+/- R 1 200 000
  5. Minitum Str – Wilgeheuwel 3 Bed 2 Bath family house+/- R 1 600 000
  6. Charleston – Wilgeheuwel 2 Bed 2 Bath simplex+/- R840 000
  7. Carona – Wilgeheuwel 2 Bed 2 Bath simplex+/- R840 000
  8. ST Martin – Honeydew Manor 3 Bed 2 Bath – reserved for +/- R 1 145 000

We also manage a rental portfolio of just over 30 properties in areas including Radiokop, Allen’s Nek, Wilgeheuwel, Honeydew Manor etc. Our monthly management fee is 7% of the rent and we also do placements only at a once-off fee.

In many cases we also assist Sellers and Landlords to get their properties sales/rent ready by using some of our contractors to do basic maintenance work such as painting plumbing and electrical where needed to get the property in a presentable condition. If you need any work done on any of your properties, we would gladly send you details of some contractors who can assist with anything from building, painting, electrical, plumbing and or gas work.

Although we keep a database of buyers and sellers that we contact on a regular basis, we find that most of our Sellers come from “Word-of-Mouth” referrals as well as social media advertising. Our buyers mostly contact us though the internet or through social media platforms where we share all our stock and relevant industry info on a daily basis.

If you would like to follow us on any of our social media platforms please look for us on Facebook, Instagram and Twitter (@steynrealty), you can also follow us (Marnus & Juanita) on similar platforms. We also use these platforms to interact with our clients for when they have questions or queries that we may be able to assist with so please do not hesitate to use these accounts to get in contact with us.

Our website www.steynrealty.co.za has also grown to include all the necessary costs and affordability calculators that you might need. Bond Repayment as well as Transfer and Bond Registration costs are very important when you are planning to buy property.

In the market where we are most active, Sectional Title Townhouses around the
R 850 000 to R 1 600 000 bracket, we find that buyers can apply for, and in some cases get 100% bonds approved. It is however better to include a deposit of 5% to 10% of the purchase price in the offer if you can as this will make your application so much stronger and will result in a better repayment rate.

On 28 March 2018 the SA Reserve Bank dropped the interest rate and subsequently the Prime Lending Rate by 25 basis points from 10.25% to 10.00%. This is positive for the industry but Sellers have to be very careful of overpricing their properties. Buyers have enough information at their fingertips to spot an overpriced property from a mile away. To make sure that you have a good chance of selling, you have to get a professional “market related” assessment done by an experienced agent who is active in your area.

The SA Reserve Bank Monetary Policy Committee meeting dates for the rest of the year are as follows: 22 – 24 May; 17 – 19 July; 18 – 20 September; 20 – 22 November

 Some Tips for Sellers

  1. Remember to give the bank notice that you are selling to avoid any penalty interest.
  2. Make sure your property is in a presentable condition, fix all the small things that buyers will see.
  3. Everything must be in a working condition.
  4. Make the property available. Buyers won’t buy if they can’t see the property. Make sure the property is accessible.
  5. Make sure the garden is neat.
  6. Unclutter the house. This a good time to spring-clean. Get rid of everything that clutters the house …. less is more.
  7. Once listed, make sure you have a look at the photos, specifications and descriptions on the various websites. Is your property presented at its best to the buyers out in the market?
  8. Have the monthly expenses relating to the property ready and available for buyers to see …. levies, security, rates & taxes, water & electricity usage etc.

Thank you for reading through our monthly update letter, hopefully you will find something of value. Please let us know if there is anything specific you need more information on. You can email to marnus@steynrealty.co.za or juanita@steynrealty.co.za.

Some of our current stock

We are always looking for new stock and would like if you could share our information with your friends & family that might need our assistance now or in the future …

“YOUR SALE IS OUR GOAL”

Regards, Marnus & Juanita

072 264 7806 / 083 604 1231 …. if you want to sell quickly and easy.

CSOS Community Schemes Ombud Service

If you belong to a Sectional Title Scheme then you are paying a CSOS Levy on a monthly basis and your complex / scheme has to be registered with CSOS ….. herewith some details.

“The CSOS was established in terms of the Community Schemes Ombud Service Act to regulate the conduct of parties within community schemes and to ensure their good governance. The Community Schemes Ombud Service Act, 2011 (Act 9 of 2011) and the Sectional Titles Schemes Management Act, 2011 (Act 8 of 2011) and Regulation thereto were proclaimed on 07 October 2016.”

For more information visit the CSOS website:

http://www.csos.org.za/

Need to sell? We need your property ….. give us a call:

Marnus Steyn: 072 264 7806
Juanita Steyn: 083 604 1231

PROPERTY

Costs when Buying Property

Every now and again we get buyers viewing properties or visiting our show houses with no idea that there are transfer and registration costs payable when buying property. Some of them also think that this can be financed with the bond amount.

So just to shed some light on this subject, especially for first-time buyers ….

When buying property, the purchasers (in most cases) are responsible for paying  the Transfer Costs as well as the Bond Registration Costs to the Transferring Attorney upon request. This is done after all suspensive conditions in the Sales Agreement has been fulfilled and needs to be paid in order for the registration process to proceed. In the case where someone buys a property in a new development these costs or a portion of these costs may already be included in the sale. Most property websites and portals as well as banking sites have built-in cost calculators where these costs can be calculated. Please have a look at our website at http://www.steynrealty.co.za for more detail.

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Transfer Costs: Is paid on the full sales / purchase price.
Bond Registration Costs: Is paid on the bond amount only.

Both these costs are calculated by the Attorney firms involved according the a schedule and sliding scale. Please look at the following example:

Full Purchase Price: R 1 500 000
Deposit Amount: R  100 000
Bond Amount: R 1 400 000

In the scenario above, the following estimated costs will apply.

Property Transfer Costs (R 50 298.00)
Attorney Fees: R 23 598.00
Transfer Duty: R 25 500.00
Post, petties, FICA and other: R 1200.00

Bond Registration Costs (R 29 985.00)
Attorney Fees: R 22 800.00
Bank Initiation Fee: R 5 985.00
Post, petties, FICA and other: R 1200.00

TOTAL COSTS: R 80 283.00

The Purchaser in the above scenario will then have to have R 180 283.00 cash available to cover the deposit and costs. Costs cannot be added to the bond amount / purchase price as this is not allowed by the Banks or Attorney Firms.

It is very important that prospective buyers take the time to calculate all the various costs and payments that they will be liable for before shopping for a new property.

For any queries on the above, please feel free to contact us or send us an email to marnus@steynrealty.co.za / juanita@steynrealty.co.za

Hope you have a great day …… off to go sell some houses.

 

 

Fixtures and Fittings

Fixtures and Fittings ….

Every Offer To Purchase (‘OTP’) has / should have a specific clause where the Purchaser and Seller agrees on which fixtures and fittings to be included or excluded as part of the Sale Agreement. This is done by mutual agreement on presentation of the OTP. Once the OTP is signed by all parties involved it becomes very difficult to change any clauses or conditions and must therefore be done prior to acceptance. Sellers should, as part of the Mandate Agreement be advised by their agents to specify any inclusions or exclusions of fixtures and fittings in the mandate agreement so that prospective purchasers can be informed accordingly when viewing the property.

To make this process easier, our OTP includes the following items as standard fixtures and fittings thatMAY NOT be removed unless otherwise specified in writing. The specific clause reads as follows ….

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“The Property is sold with all fixtures and fittings of a permanent nature, which the Seller warrants are fully paid for, and owned solely by the Seller, including all existing garden trees / shrubs / plants, stove, electrical light fittings / shades and (if any) curtain rails / rods / pelmets / blinds, swimming pool equipment / filters / motors, fitted carpets, fitted kitchen storage units, post box, electrical geyser(s), TV aerial, DSTV satellite dish, burglar alarm system, door-bell / knocker, keys and remotes. All electrical items are to be in working order on date of occupation. The purchaser is aware that the radio transmitter connected to the alarm system (if applicable) is the property of …………………………………………Security Company”, where the radio transmitter is therefore excluded.

The OTP also gives the Seller / Purchaser the opportunity to specify any inclusions / exclusions to this clause. Inclusions would be any NON-fixtures that will be sold with the property. Exclusions would be any fixtures that will be removed are not sold with the property. Apart from the items mentioned in the clause above, fixtures and fittings in general can be understood as being as the following:

Any items that form part of the permanent structure of the property such as built-in cupboards and vanities, mirrors, towel and curtain rails, blinds, shutters, light fittings & switches, light bulbs, security systems, built-in heaters, fans and air conditioning systems, gate / garage door motors & automated systems or anything that is bolted, nailed or screwed onto the property can be seen as fixtures. If, for example, there are bathroom cupboards hanging on the walls of the bathroom with towel rails attached to the cupboards, Purchasers viewing the property could assume that these cupboards and rails are fixtures as they won’t know if the cupboards are bolted to the wall or hanging on screws / nails like portraits / paintings. Sellers might think that these are non-fixtures and remove them causing huge frustration and unhappiness when the new owners take occupation.

According to our OTP the complete DSTV dish or any other antennas / dishes, brackets and cables are also seen as fixtures and therefore, unless excluded, are sold with the property. As previously mentioned, the Seller should exclude all of these items during the listing and mandate process and prior to signing any OTP in order to avoid unnecessary unhappiness and disappointment later on.

Should any items, deemed to be fixtures, be excluded, the purchaser may request that it be replaced by the Seller with a suitable alternative / replacement item. Take the DSTV dish for example: If the Seller has a very expensive, multifunctional DSTV dish and “LNB” combination and he / she would not like to sell it with the property, it should be excluded in writing and replaced with a suitable replacement / alternative system if necessary. The Purchasers may also request that should any fixtures be removed from the walls of the property where it was bolted onto the walls, that the holes be filled and the walls painted, or not, depending on what has been agreed. Purchasers may also decide to include certain items that are non-fixtures such as loose standing cupboards, pot plants, curtains etc. which the Purchasers may or may not agree to.

All the above should be negotiated and written into the OTP prior to finalizing and signing of the OTP to avoid any future misunderstanding.

We hope that you find the information useful. Happy selling. If you need any assistance with the sale of your property in the Roodepoort, Gauteng area, please do not hesitate to contact us:

Marnus Steyn: 072 264 7806 / marnus@steynrealty.co.za

Juanita Steyn: 083 604 1231 / juanita@steynrealty.co.za

To view all out available stock, please visit our website at www.steynrealty.co.za

You can also like and follow us on Instagram, Twitter and Facebook at @steynrealty

Stock – Some of our latest listings …

We focus predominantly on property sales and rentals in areas from Sterkfontein / Pinehaven side, along Hendrik Potgieter towards Clearwater Mall and Wilgeheuwel Hospital.

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what we do …. @steynrealty

We have recently sold some of our stock and we urgently need new rental and sales stock for our buyers. Here are some of our current stock:

For Sale:

  1. Windsor West – R 690 000 – CLICK HERE
  2. Wilgeheuwel – R 899 000 – CLICK HERE
  3. Wilgeheuwel – R 935 000 – CLICK HERE
  4. Wilgeheuwel – R 950 000 – CLICK HERE
  5. Wilgeheuwel – R 1 125 000 – CLICK HERE
  6. Allen’s Nek – R 1 500 000 – CLICK HERE
  7. Little Falls – R 1 599 000 – CLICK HERE – House
  8. Wilgeheuwel – R 1 645 000 – CLICK HERE – House
  9. Honeyhill – R 1 700 000 – CLICK HERE – House
  10. Ruimsig – Smallholding – R 4 650 000 – CLICK HERE

To Let:

Our rentals are done through the TPN Rentbook system and all our applications are subject to a full credit approval process, employment verification and affordability screening. All of our properties are currently occupied but we get new stock in on a monthly basis. If you are not happy with way your rental portfolio is managed, we can also take it over.

Here is one 3 bedroom and one 2 bedroom unit we have available from 1 May …

  1. Wilgeheuwel – R 5500pm – CLICK HERE
  2. Wilgeheuwel – R 9 250pm – CLICK HERE

For more details on any of our services, please call, whatsapp, sms, email, tweet, facebook message …. we will get back to you.

Hope you have a great weekend.

M&J  …… http://www.steynrealty.co.za …… @steynrealty

First Impressions

“Don’t judge a book by its cover” ….. when it comes to Real Estate, Sellers can easily lose out on a potential buyer just because the “cover” of their “book” has been neglected.

first-impression

Unless a buyer is looking for a “fixer-upper” or maybe something he/she can get for a very good price (below market value) to fix up and then “flip” or use as a long-term rental, FIRST IMPRESSIONS are extremely important when selling property. Together with the aesthetic appeal of the property, price, location and general condition are probably the most important factors that buyers are look at.

FIRST IMPRESSIONS include everything a buyer will see at first glance when viewing a property. Many small things are sometimes overlooked by sellers / homeowners because they see the property every day. It doesn’t matter how big or how small the property is, if the property looks neglected from the outside, buyers WILL judge the book by its cover and assume the same goes for the inside …. this will also alert buyers that there may be other hidden problems / maintenance issues not clearly visible when viewing the property.

Even the photos that agents take for advertising purposes can have an influence and can either be to the sellers’ advantage or detriment. If you are currently selling your property through an agency, do yourself a favour and go have a look at the listing online. Look at the photos and read the description ….. you might be pleasantly surprised or shocked!

Before we sell a car, before we take it to a second-hand dealership to get a valuation or to trade it in on a new car, what do we do …… we take it for a wash or maybe even a full valet. We touch-up little scratch marks and polish the paint. Sometimes we buy new tyres, pray air freshener in the car etc. Why don’t sellers do the same with their properties? It will obviously cost a little more to repaint and to do minor maintenance but dressing up, fixing up and “de-cluttering” your house before putting on the market will definitely help to sell it faster and maybe even at a higher price. Here are a couple of things that we see every day that is a big let-down for property buyers:

  1. Uncut pavements, long grass, gardens with overgrown bushes and flower beds.
  2. Boundary walls falling apart, falling over, loose bricks, cracked / broken walls with large damp sections and paint that is flaking.
  3. Driveways with grass & weeds growing through the paving or cracks in the cement.
  4. Steel / wooden gates, doors & garage doors that are weathered, rotten, rusted, cracked and in need of attention or replacement.
  5. If you recently fixed some cracks on the outer (or inner) walls of your house, make sure you paint with the same colour / shade of paint than the rest of the wall, otherwise its better to paint the whole wall.
  6. Water marks / stains anywhere on a property is extremely negative, even if the geyser burst a year ago and left a little watermark on the ceiling which you forgot to paint, buyers will not believe you and think there is a problem.
  7. Gutters, down-pipes, plumbing pipes, fascia boards in need of repair or painting looks really bad. In sectional title complexes this will make the buyers think that the Body Corporate is in financial trouble or that the complex is not well-managed … a very big negative for buyers.
  8. Old carpets, bad odors, damaged cupboards, wooden floors that are lifting, chipped walls and any cupboard, window or door that doesn’t close properly are big turn-offs.
  9. Pools that are green any time of the year is a sure sign that there are problems.

The general condition of the property can go a long way assist with securing on acceptable offer. Your agent should also be able to assist you in pointing out the main issues that will need attention. Don’t sell yourself short ….. happy selling!

New-Look Blog

What do you think? Changed the theme for my blog ….. new and fresh. Although I share some personal info on my blog, it is mostly there to promote my profession and my business as a Business Owner & Real Estate Agent with Steyn Realty in Roodepoort, on the Westrand of Gauteng, Johannesburg, South Africa.

As part of all the marketing we do, blogging isn’t always that easy to “get to” but still a very effective marketing tool. Our marketing consists of the following:

  1. Boards & Dustbins – For Sale – To Let – Sold – Area Agent – Area Specialist – On Show etc …. extremely effective as many buyers, sellers, tenants & landlords drive around in the areas where the want to buy sell or rent and if they spot your details on a board you might get some business.
  2. Website portals – the main websites to advertise our property listings on are Property24 and Private Property. Other sites such as Myproperty, Entegral, IOL as well as our own website are also useful for lead generation. I must say, Entegral is doing a great job assisting estate agencies with real good-looking and user-friendly websites (not expensive) and easy to manage.
  3. Social media … need I say more. We have to be on them all … Twitter, Instagram, Facebook, LinkedIn …. and blogging of course. To follow all our profiles just click on the Social Networking on the home page and click to follow. We love engaging with our followers and answering any property / real estate related questions you might have.
  4. Networking ….. everywhere we go, we network, give out cards, chat to people take numbers and stay in touch as far as possible.

We are always looking for stock, Houses, Townhouses, Clusters, Flats, Estate Houses, Plots, Vacant Land, Farms or any real estate in the areas where we work ….. and we love selling. All our stock can be viewed in detail on http://www.steynrealty.co.za

Our areas where we work stretch from Sterkfontein / Krugersdorp in the West (we refer many buyers and sellers to an agency called RealPro who specializes in assisting buyers, sellers, landlords and tenants in that area). Pinehaven, Featherbrooke, Home Haven in the West all along Hendrik Potgieter towards Ruimsig, Amorosa, up the hill towards Helderkruin, Kloofendal etc. Around Clearwater Mall, Wilgeheuwel, Strubensvallei, Little Falls, Radiokop, Allen’s Nek towards Wilgeheuwel Hospital.

We do a lot of Sectional Title sales and Rentals although the last couple of months towards the end of 2016 and the start of 2017 we have assisted some more sellers, selling their Houses in the area.

If you or anyone you know are looking to buy, sell or rent out their property, we would love to assist. We can assist with free, market related valuations for selling or rental purposes. We advertise on all major websites and social media as explained above. We screen all our tenants through the TPN Credit Bureau and we also make use of the TPN Rentbook system to manage and invoice our tenants.

For more info on your own affordability and credit profile for buying property, please contact Sanette Payne of Payneless Bonds on 087 151 4712 / 011 662 2396 or email sanette@paynelessbonds.co.zahttp://www.paynelessbonds.co.za

For any legal queries regarding the transfer process, costs & fees or any legal issues regarding the transfer and registration of Properties, please contact Jolandie Pieterse at Truter Crous & Wiggill Attorneys on 011 692 1640 or email jpieterse@tcw-rftn.co.zahttp://www.tcw-rftn.co.za

Thank you for reading this post, and remember, we love selling and we would love to assist you in the future.

Marnus – 072 264 7806 – marnus@steynrealty.co.za
Juanita – 083 604 1231 – juanita@steynrealty.co.za