PUBLISHED 13 APR 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:
- Cedar View – Little Falls 3 Bed 2 bath simplex +/- R 1 000 000
- Poortview Villas – Amorosa 3 Bed 2.5 Bath duplex+/- R 1 600 000
- Oregon – Wilgeheuwel 3 Bed 2.5 Bath duplex+/- R 1 400 000
- Luderitz – Radiokop 3 Bed 2 Bath simplex+/- R 1 200 000
- Minitum Str – Wilgeheuwel 3 Bed 2 Bath family house+/- R 1 600 000
- Charleston – Wilgeheuwel 2 Bed 2 Bath simplex+/- R840 000
- Carona – Wilgeheuwel 2 Bed 2 Bath simplex+/- R840 000
- 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
- Remember to give the bank notice that you are selling to avoid any penalty interest.
- Make sure your property is in a presentable condition, fix all the small things that buyers will see.
- Everything must be in a working condition.
- Make the property available. Buyers won’t buy if they can’t see the property. Make sure the property is accessible.
- Make sure the garden is neat.
- Unclutter the house. This a good time to spring-clean. Get rid of everything that clutters the house …. less is more.
- 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?
- 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 us on email@example.com or firstname.lastname@example.org.
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