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

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Seller Information

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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

www.steynrealty.co.za (2).jpg

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”.

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

 

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.