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

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SELL THROUGH STEYN REALTY

I recently posted this article on our website in an attempt to notify sellers and future property sellers as to the potential pitfalls / costs when selling.

Just in the case of purchasers who need to do their homework before buying, making sure they are credit worthy and what they can afford, Sellers also need to do their homework ….

While touching on a couple of other issues, the article aims to outline most of the potential costs that Sellers may be responsible for during the sales and registration (transfer) processes. It covers the following:

  1. Avoiding Penalty Interest
  2. Bond Cancellation Costs
  3. Compliance Certificates
  4. General Condition of the Property and
  5. Nomination of the Transferring Attorney Firm.

You can read the article by clicking on the link below.

CLICK HERE

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For any sales or rental related queries or to get your property listed in the Roodepoort, Ruimsig, Wilgeheuwel, Little Falls, Constantia Kloof and surrounds …. please contact!

Marnus Steyn – 0722647806 / marnus@steynrealty.co.za

Juanita Steyn – 0836041231 / juanita@steynrealty.co.za

http://www.steynrealty.co.za

 

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”.

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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

 

Sales Stats for Sectional Title properties in Wilgeheuwel, Honeydew Ridge and Honeydew Manor: Roodepoort

In my quest to understand the areas and markets where I work better I will be looking at some specific sales stats in those areas. The data used was acquired from the Lightstone programme and which is based on true Deeds Office Registrations data.

Having looked at the last 500 Sectional Title Property Registrations from March 2010 to Jan 2012 (+/– 23 per month) some interesting facts about sales prices and price per square metre revealed itself.

The data shows that smaller units, below 100sqm fetch a better price per square metre (R 8163) than bigger units over 100sqm which only fetched R 5969 per square metre.  As an example, a 70sqm unit will sell for +/- R 560 000, a 120sqm unit for +/- R 770 000 and a 180sqm unit for +/- R 900 000 making the bigger units worth less per square metre. The bigger units are normally the ones with double garages and bigger rooms but yet they sell for less. The 500 units that registered during this time sold for an average of R 7276 per square metre with the smallest being 43sqm and the biggest being 198sqm.

From the 500 transactions, 82% (408) got a Bond from one of the four major banks, Investec or SA Homeloans while 15% bought without a Bond. The other 3% got finance in other ways not specified in the reports. The average sales price of all the properties came to R 660 000 with the lowest being R 220 000 and the highest being R 1 100 000. The average sale for Bonded properties was R 615 000 and for Cash sales, R 630 000.

The 408 bonds came to a total of R 250 941 915 against a total purchase price of R 272 276 997, which is 92.16% financed. Although all the banks have different financing criteria most sellers need to prepare for a deposit of +/- 5% to 10%.

The major financial institutions financed 82% of the registered properties as follows:

 

 

 

 

 

 

Interesting to see SA Homeloans with 13% of the cut and Standard Bank granting the most loans (34%) for the specific period.

Other interesting stats from the sale of these properties came from looking at the three areas and the number of sales per area. Honeydew Manor had 6 (124) registrations, Honeydew Ridge had 137 (116) and Wilgeheuwel with 357 (89) registrations. The number in brackets is the average size of the units for that area. While I do think that Wilgeheuwel is the biggest area with the most amount of units, it also has the most amount of small units, bringing the average size down to 89sqm, your typical 2 Bedroom 1 Bathroom unit with a TV lounge and 1 Garage …. +/-. Note to self: Smaller units sell better than bigger units!

Average size for the 500 units came to 97sqm, average price R 660 000 as previously mentioned, which gives you R 6800 per square metre.

Looking at the average price for each area, Honeydew Manor comes in at R 792 000, Honeydew Ridge at R 728 000 and Wilgeheuwel at R 630 000.

 

 

 

 

 

 

 

Conclusion:

Well, as an agent this helps me to price my listings correctly according to size and area. It also helps me to know the areas better and what buyers are buying. As a Seller, it is just as important to know what your unit is really worth and what you can expect as over-priced properties are not selling and those that are priced right do! As a Buyer, looking at these stats will assist you in finding the value for money, not a steal, although those are out there. Knowing that you are buying at the right price.

Watch this space for more area reports and statistics such as this ………. enjoy, and remember to subscribe to my blog with your email address on my home page.

For all my properties, visit my profile on the RealPro website.