Where is TIME going …?

August 2016 …. 5 months into our own business and more than 11 years in the Real Estate Industry and here we are …. still going “strong”.

PROPERTY

During the last 5 months we have done a fair amount of transactions ranging from R 2 000 000 to R 500 000 but we need more, much more. We pride ourselves on being pro-active when it comes to marketing and advertising of our stock, technology and the quality of our service, feedback, knowledge and professionalism.

Buying or Selling property is a massive decision and we take it very seriously. We have the necessary knowledge and experience in selling residential homes / clusters as well as sectional title townhouses and apartments to make sure that our clients are in good hands and get the right advice. We also offer rental procurement and management services where we offer a complete service through the TPN Rentbook and TPN Credit Bureau systems.

We get enquiries for sales and rental stock on a daily basis and we need more stock to show our buyers and tenants.

If you are at all looking to SELL or LET OUT your property, please give us a call or an email so we can assist. We cover quite a large area from Pinehaven in the West all the way along Hendrik Potgieter up to the Wilgeheuwel Hospital area in Radiokop. We are also looking for properties in Helderkruin, Kloofendal, Constantia Kloof and Weltevreden Park.

We can be contacted as follows:

Marnus: 072 264 7806 / marnus@steynrealty.co.za
Juanita: 083 604 1231 / juanita@steynrealty.co.za
Our website is: http://www.steynrealty.co.za
We are also quite busy on social media where you are welcome to follow our tips / hints / latest stock and industry related news updates and info ….

For our Facebook page ……. Click here
For our Twitter feed ……. Click Here
You can even follow us on Instagram ….. @steynrealty

We would also love to hear your views and thoughts on the SA Real Estate industry so please interact and give us you opinion.

\WE CAN HELP

 

SA Interest Rate and how it will affect buyers and sellers

THE SOUTH African Reserve Bank, during the recently held Monetary Policy Committee meeting (MPC) announced an increase in the interest rate of 50 basis points. This also meant an increase in the Prime Lending Rate from 9.75% to 10.25% – which means you will now have to fork out even more.

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As a homeowner, this suggest that you will now pay around R330 more per month for every R1 000 000 you owe the bank on a normal 20 year bond repayment period.

Many economists are, however, predicting that the interest rate will see a further increase by up to an additional 100 to 125 basis points towards the end of the year. This will raise the prime lending rate to from 10.25% to 11.50%.

What this will mean is that on a R1 000 000 bond taken over 20 years at a rate of 11.25% your repayment will be R 10 492.56 compared to a repayment of R 9 485.17 at a rate of 9.75%. With this forecast in mind, many homeowners could possibly decide to sell and downgrade.

The “theme” for this year will aptly be known as AFFORDABILITY and many articles have since been published warning the public not to incur additional debt if at all possible this year. Homeowners feeling the pinch of their bond repayments will have to cut down on unnecessary spending and luxuries in order to absorb these increases.

Many homeowners will decide to downgrade by selling and renting or buying something more affordable. Some investors feeling the pressure of multiple bonds and additional exposure might also decide to re-look at their portfolios and possibly sell-off some property.

This will mean an increase in property in the lower to medium price brackets as well as an increase in the demand for rental and affordable properties. Some investors, not affected by these rate hikes, will be keeping a close eye on the market and try to pick up some good deals. They normally have some cash and as long as the rental income makes sense, they will look at it.

Sellers need to make sure that they don’t fall into the trap of overpricing their properties. They need to make sure that they do their homework thoroughly and then enter the market at the right price bracket so that they can attract buyers. By making use of estate agents, which are specialists in the area where you are selling, you can easily get a couple of valuations and then get an opportunity to assess the situation from there. Don’t just go for the agent with the highest price as this could take too long to sell.

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Well priced, neat and well looked after properties will be seen as good value for money; they will attract more buyers and also sell much quicker. These properties that are overpriced and neglected will struggle to sell at the asking price and will have to drop in price eventually in order to sell. Having said that, I truly believe that every house has a buyer, as long as the price is right.

Currently there are property shortages in many price brackets which mean that sellers can possibly get a bit more for their properties as they have more negotiating power due to an undersupply. As more stock comes into the market, property prices will stabilize and qualified buyers will get more of an upper hand when negotiating on the purchase price.

Buyers also need to do their homework and find out what their credit scoring is and for how much they can qualify. Over and above that, they need to be clear on what they can afford taking all the costs and additional expenses of owning and maintaining a property into consideration. Many bond originators offer a service where they can, very accurately, assist buyers to check their credit scoring, affordability and determine what they will qualify for.

By keeping an open mind, speaking to the right people and getting advice and as much information as possible, you can make sure that you are ready for whatever the market brings. Owning property is still a fantastic investment with great advantages.

Web pic Marnus

For any assistance buying or selling property in Roodepoort and surrounding areas, please call Marnus on 072 264 7806 or email marnus@steynrealty.co.za

http://www.steynrealty.co.za

Time to Blog

So, I haven’t blogged about our new agency yet …… Steyn Realty.

We are happy to report that the wheels are off the ground and we are flying. We will be assisting buyers, sellers, landlords, tenants with real estate related matters, listings, advertising, marketing, selling, letting and managing in the following areas:

From Pinehaven to Radiokop including Featherbrooke, Amorosa, Ruimsig, Tres Jolie, Poortview, Honingklip, Sterkfontein, Helderkruin, Kloofendal, Weltevreden Park, Little Falls, Wilgeheuwel, Strubensvallei, Honeydew Manor, Honeydew Ridge, Allen’s Nek and Constantia to mention a few.

Have a look at our new website at http://www.steynrealty.co.za and give us call so we can assist you.

Success Story – Real Estate

I had this listing for a while, listed on all the major websites and also with other agencies as part of our Multi-Listing arrangement. The property is situated in a very good area so the viewings were quite regular. Every time we had a Sunday Show Day it was quite busy with some real interest, but no offers.

The owner of the property had already bought another property and it was now up to me to get this one sold so that his transaction could also continue ….. no pressure, I was given until the end of September ’15 …..

2. HELDERKRUIN FAM HOME

At the end of August I went to the Owner / Seller with the following pitch. “Let’s withdraw all the listings and re-list on a sole mandate basis (as the commission was not favorable for sharing), show every weekend, renew all marketing and see what happens”. Part of the deal was that we also reduced the price and re-looked at the commission structure. This is not ideal but both myself and the owner agreed to make a bit less to get the deal done.

The process that followed was quite amazing to say the least:

  1. 2 September ’15 ….. We re-listed on all the sites etc
  2. 3 September ’15 ….. Got a buyer enquiry from Private Property
  3. 4 September ’15 ….. Took prospective buyer through and he loved the property but couldn’t make a final decision
  4. 6 September ’15 ….. We had a Sunday Show day and invited him to come and have another look. The show day was busy as usual. He also came through and I could see he was close to making the call.
  5. 8 September ’15 ….. With a bit of negotiation we took an offer and got it accepted the next day. By this time we had already informed the bond originator (Payneless Bonds) who made contact with the Purchaser and requested all the necessary documentation.
  6. 10 September ’15 …. The Purchaser had all his documents ready and his application was submitted to all the banks
  7. 11 September ’15 …. After only 1 day the banks started coming back with AIP’s (Approval In Principal – subject to Property Valuation)
  8. Monday 14 September ’15 …. we had our first bank valuation done and got our first bond grant
  9. 15 September ’15 ….. We got confirmation that the deposit was paid. We also received more bond grants and there you have it …… the property is now SOLD.

Sold New

13 Days from re-listing to SOLD with deposit and bond grant in place. This is why I love this profession (not job). The mere fact that this can happen with the right assistance, dedication, negotiation and a bit of luck.

I can only applaud Sanette and her team at Payneless Bonds who really jumped at this one and assisted in the fastest time possible. I can really recommend their services …. just go to http://www.paynelessbonds.co.za

If you looking to sell property anywhere on the West Rand, Krugersdorp or Roodepoort …. please contact me and I will try to assist ….. I love selling property! http://www.realpro4u.co.za

marketing

Property For Sale in Helderkruin / Kloofendal, Roodepoort

Helderkruin and Kloofendal are arguably two of the better suburbs to stay in the Roodepoort area. Close to schools and other amenities, these two areas are quiet and established with large residential stands and older but well built properties. Many of the properties have been upgraded and renovated over the years.

I have 3 residential homes for sale in these areas and any prospective buyer can contact me directly to arrange a viewing …… have a look at the following:

1. Kloofendal R 2 275 000 (Negotiable)

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This is a very neat and spacious 3 bedroom house that has also got a 4th bedroom / flatlet with its own bathroom and kitchen. What makes this house unique and adds to the value is that it has full gas and solar installations for the kitchen as well as the geysers. Loadshedding is no problem with a generator and because of the gas and solar features, the electricity bill is really low. Electricity is also pre-paid.

Other features included a study, under cover parking for a caravan, trailer and or boat, double automated garage, solar heated pool, domestic accommodation with bathroom and solar geyser, large extra Wendy House for storage, a second entrance gate at the back, a jungle-gym and lots of garden space to play.

Being a corner property, this stand is 1500m². This really is an exceptional property with so many positive features. To view this property …. click here

2. Helderkruin R 1 695 000 (Negotiable)

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Built on 1286m² stand and situated very close to the Kloofendal Nature Reserve, this property is also totally renovated. From the roof to the kitchen and bathrooms have been renovated and upgraded for a more modern but warm and family orientated lifestyle. This property has 3 well sized bedrooms with laminate flooring and two bathrooms. The kitchen has a huge scullery section witch also doubles up as the laundry with lots of cupboard space.

Three large living areas include a dining room, formal lounge and TV / Family room leading out to the pool area. Other features include a study, domestic room, outside bathroom, double automated garage, braai / entertainment area and irrigated garden.

This is the perfect home for a young couple or family where you can stay for the next 20 years …… to view this property …. click here

3. Helderkruin R 1 650 000 (Negotiable)

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Spacious comfortable living in this very neat and spacious family house. 1566m² stand, 3 bedrooms and a study (which could also be a 4th bedroom), 2 bathrooms and 3 living areas. Work-from-home possibility with some minor adjustments. If you are looking for a big kitchen where the family can get together, well then this is it. Separate scullery, double fridge and plenty of space for other appliances.

This property has a front and back garden with beautiful rock garden, grass terraces and sparkling pool. Additional features include a domestic room and outside toilet, separate side entrance, a bore hole for the garden, irrigation system, covered back patio and plenty of playing space ……

This property is a dream come true for a your couple or family looking to settle for many happy years. To view this property …. click here

For more on these properties or any other of my listings, go to http://www.realpro4u.co.za

My BC

EXPECTATIONS …….. WHAT ARE YOURS?

What are your expectations when selling a home or property ………?

So ….. you are selling your house and you have selected an agent to help you. You have MANDATED that agent to list, market, advertise ….. and do whatever it is agents do, to get your house / property sold at the asking price or as close to the asking price as possible.

Hand drawing Results and Expectations concept with white chalk on a blackboard.

Before we get to your expectations I take it that you have done your homework and you have made sure that:

1. The agent is working in the area.

2. The agent and agency is qualified in terms of the EAAB regulations and that they each have a valid Fidelity Fund Certificate.

3. You receive some form of marketing plan from the agent explaining how he/she will be marketing the property.

Now, having done a bit of your own homework, I would like to know what are your expectations of the agent? Maybe you have bought or sold recently and you were impressed with the agent who assisted you or maybe you felt as if you could have done a better job?

Please let me know by emailing me to marnus@realpro4u.co.za or just comment on this post. Please do not mention any agency names or details unless you feel strongly about it. I really just want to get a feel for what your expectations are!

Regards …. have a nice day and remember …. “any day is a good day to buy property … ”

For assistance in selling your property in Krugersdorp or Roodepoort, please contact me on 072 264 7806.

http://www.realpro4u.co.za

Your Agent

What Sellers need to know.

So you want to sell your property, could be the house you stay in now or maybe another that you have bought some time ago for investment etc. The first thing you do as the seller is to think about PRICE. What can I / we sell this for?

With all the information available to buyers and sellers these days it is quite possible for sellers to take all of this information into consideration to get to an amount. What sellers need to know is that a lot of the information floating around on the internet and in property publications and booklets are or could be misleading. Take the property publications and ads on the internet sites for instance. Many of the properties advertised on these platforms are over-priced, have been on the market for a long time and just because they are in the same complex, estate, area or street as your property, doesn’t mean that you can price your property accordingly.

Although it gives us an indication, it is a known fact that over-priced properties take a very long time to sell, they become stale and then eventually sell for a lot less if they sell at all. It also doesn’t help talking to sellers in the area as many of them won’t tell you if their property sold for much less than the asking price. To get to the accurate selling price for your property the following needs to be taken into account:

1. Recent Sales: Recent selling prices of similar properties in the complex, estate or area. This is easier in sectional title complexes and estates than in normal residential areas unless the agent knows the properties that have sold and he/she can can also compare specific specifications.

2. Buyers Needs: Experienced agents know what buyers are looking for. Sellers need an independent view on this from an agent that is not emotionally attached to the property. Everything from the layout of the property to the specific finishes, storage space, lighting, garden size and privacy could be issues that are very different from one buyer to the next.

3. Defects, Declaration and Costs: Defects and the general condition of the property is a very important factor. Neat and well maintained properties sell quicker and at better prices …… that’s an industry standard unless you are buying a “fixer-upper” when a whole new set of rules will apply. All possible defects and the general condition of the property has to be documented and declared to the agent so that the buyer can be made aware of the situation. Buyers need to know what they are buying and they will be looking to the agent to declare this. All costs associated with the property need to be declared and documented such as rates and taxes, levies, additional security and maintenance levies etc.

4. Availability: Availability for viewing is sometimes a big problem. Especially in properties where there are tenants that are scared that the property will be sold. Agents will need access to view the property. Most buyers view on weekends and after hours and if that doesn’t suit the seller, well then you might just as well take your property off the market.

5. The Market: We are still in a Sellers Market which means that, taking all the above into consideration, sellers should be able to get slightly higher or at least close to asking price for their properties, if they are priced correctly. With interest rates and stock being low, this is a good time to sell. Buyers also get the benefit of low rates but unfortunately supply is a problem if you don’t find what you are looking for.

6. Commission: Sellers need to account for commission of +/- 5% to 7% of commission to be paid to the mandated agent or the agent who introduced the property to the buyer. This needs to be negotiated and agreed on and documented before the agent starts to market the property.

Determining the market related price of a property to secure a successful sale at the highest possible price with the best possible conditions is serious business and should be left to a property professional. For property sales on the Westrand, Krugersdorp and Roodepoort, contact me on 072 264 7806 / marnus@realpro4u.co.za