Got anything you want to chat about or interesting stories/data to share? This thread is all yours.
5 comments:
Anonymous
said...
Hi CT Bubble,
If it's the 19th, it's ReMax inventory check day!
The latest numbers show that the buying season is well underway - plenty of falling-knife-catching going out there.
But the bad news for the bulls is that there are still more houses on the market than last month. It might only have been a 1.6% uptick, but in peak buying season, that smells like serious trouble to me.
It gets worse, though: it was 1.6% uptick OVERALL in Cape Town, with inventories dropping in the Southern and Northern Suburbs, and up the west coast, but they climbed on the Atlantic (wealthier, more sussed owners, who know a slump when they see one coming) and surged in the Somerset West and Strand area - up almost 6% from last month.
So, business as usual. Still looks like it's going to be complete carnage out in False Bay when the sheeple really start panicking.
Hey BC, keep an eye out on this place in Gordon's Bay: http://www.gumtree.co.za/capetown/74/12706574.html
Price is highly negotiable with rental assistance still in affect for another 5 months? There must be bad stuff going down in that place.
Rentals for that type of place in G-Bay are lucky to get above R2500 (I've seen ads for R2200 a month for a similar place and still willing to negotiate)
5 comments:
Hi CT Bubble,
If it's the 19th, it's ReMax inventory check day!
The latest numbers show that the buying season is well underway - plenty of falling-knife-catching going out there.
But the bad news for the bulls is that there are still more houses on the market than last month. It might only have been a 1.6% uptick, but in peak buying season, that smells like serious trouble to me.
It gets worse, though: it was 1.6% uptick OVERALL in Cape Town, with inventories dropping in the Southern and Northern Suburbs, and up the west coast, but they climbed on the Atlantic (wealthier, more sussed owners, who know a slump when they see one coming) and surged in the Somerset West and Strand area - up almost 6% from last month.
So, business as usual. Still looks like it's going to be complete carnage out in False Bay when the sheeple really start panicking.
Keep up the good work.
BC
Thanks for the info BC. That False Bay coast seems to getting out of hand.
Hey BC, keep an eye out on this place in Gordon's Bay: http://www.gumtree.co.za/capetown/74/12706574.html
Price is highly negotiable with rental assistance still in affect for another 5 months? There must be bad stuff going down in that place.
Rentals for that type of place in G-Bay are lucky to get above R2500 (I've seen ads for R2200 a month for a similar place and still willing to negotiate)
I am interested in the dynamics of off plan sales in a declining market.
Are buyers only at risk of losing their deposits or can the developer enforce the purchase agreement?
What happens if the purchaser loses their bond approval prior to transfer?
Do you see any specific developments in deep do do now owing to advanced construction but purchasers failing to go through with transfer?
Hi flip-flop,
"Are buyers only at risk of losing their deposits or can the developer enforce the purchase agreement?"
I am not a lawyer so I can't comment for certain on this. I would assume the deposit could be refunded but you're going to fight for it.
"What happens if the purchaser loses their bond approval prior to transfer?"
Beats me.
"Do you see any specific developments in deep do do now owing to advanced construction but purchasers failing to go through with transfer?"
We talk about it at this post http://capetownbubble.blogspot.com/2008/01/rockwell-more-developers-become.html
Post a Comment