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!

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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

 

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.

focus-interest-rates

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.

Australian-Property-Values-Increase

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.

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

Heads UP

… every now and again we have to look at some stats to see where we are coming from AND if we are on track to where we want to go. The last 17 months since Jan ’12 we have captured our transactions a bit differently so that we can extract valuable data on various aspects of our business.

RealPro is not a BIG Real Estate Agency, but we a fair a mount of business on the Westrand including Krugersdorp and Roodepoort. Enough to get some stats to look at ….. at least. In the last 17 months we registered just over R 72 000 000 worth of properties (Property Value)., with an average value of below R 1 000 000. We make use of bond originators where we can as we believe they add value to our business and to the majority of our buyers. We have some clients who prefer to go directly to their banks but the most use originators to see where they can get the best deal.

Yes, we do get many 100% bond applications, 54% of the registered deals applied for 100% bonds and 57% of them got it. Many got 95% or 90% or even as low as 75% and still continued with the transaction.

Below is a graph showing which banks granted the most applications (deals) during this 17 month period. Banks include ABSA, Nedbank, Standard Bank, FNB as well as RMB and SA Homeloans.

Finance 3 June 2013…. watch this space for more stats and info ….. all our properties can be viewed at www.realpro4u.co.za

Have a good one

McS

Krugersdorp North

Krugersdorp North Home: R 1 250 000 ….. web ref 465407 …. www.realpro4u.co.za

 

BEAUTIFUL old Krugersdorp North home with high ceilings, spacious rooms, wooden floors, very well kept. This lovely large home FOR SALE in PRIME AREA on business zoned VILJOEN STREET will be up for grabs for the right buyer with BIG PLANS for this beauty with lots of character!

Space for parking and also possibility of 400 sq m extra stand to be bought @ R 200 000 which lends itself to having lots of extra parking space and business opportunity! Walk to Key West!! Be on a spot where evryone will find you!

For more info or to arrange a viewing contact Sally on 082 898 4328

Rangeview Family House

One of our latest listings in Rangeview Krugersdorp: web ref 478355 – R 1 425 000

 

Beautiful large home with a view! This family home is FOR SALE in popular area of Rangeview in Krugersdorp! Lots of space for kids to play, build your pool where you choose to!
FOUR bedrooms and very large study!
Bonus: Full two bedroom flat, spacious with lovely kitchen, living area and bathroom!

For more detail on this property call Sally on 082 898 4328