Sorry for the lack of articles, the boss only unchains me from the desk on weekends now. Here's the weekly Saturday open thread
19 comments:
Bean Counter
said...
Have been thinking about how little concrete info we have to use to figure out the ongoing crash for ourselves - self-censoring media, contradictory house price indexes, endless ramping by estate agents, etc.
The great thing about the Web though it that you can short-circuit the lies by publishing info direct. So why don't we start our own informal database right here?
I suggest two running threads: one for bought/sold property, the other for rental. Even just a couple of posts a month will give us a good idea of what's REALLY going on.
So in the interests of transparency, let me kick off the database with the first two entries - both rentals (mine and a mate). Feel free to post your own details, or anyone you know, as long as you're sure of the figures.
Wish I could help you with the property database but nothing, absolutely nothing is selling in my dorpie, Ladismith.
What's on my mind is the 2010 slo mo train wreck.
As you might be aware the coloureds in Mitchell's Plain have switched their votes from the ANC to the DA in a landslide by election result this week. Such result might just have a little to do with the Green Point stadium spoils going to ANC connected firms and workers.
The ticket application process for 2010 is/was set up by FIFA but local implementation was left up to the ... locals. Let's hear of your experiences with it!
Only in Cape Town at Canal Walk did I see a display loaded with forms at FNB. At our local FNB in Ladismith, no display, not one application submitted after 1 month and we discovered that our application was never entered into the system. In Oudtshoorn, took hours to submit a different application and despite paying in R 2800, did not receive the pre loaded FNB credit card.
I am doing all this just in case 2010 is not moved!
Er, Robbie Fields, I think you're on the wrong blog. Maybe you'd like post on a blog that has something to do with 2010, instead of a property bubble blog? Just a thought.
Bean Counter, cool idea. I would post my details but I bought at the top of the bubble and I don't want anyone to laugh at me!
Wow, okay, so my little database idea crashed and burned spectacularly: a soccer loon, a shy misanthrope, yet another Anonymous with nothing to contribute, and an anonymous specuvestor looking to flush money down the loo in the City Bowl! Consider me duly chastised!
My old place - Upper slopes of city bowl - 2 bed, maisonette, security, views R7000 incl electricity and water. Valued at R2m asking.
My new - nice part of cape town ( too many enemies on realestateweb to be too specific :-) ) 4 beds, office, pool, security, views,plenty parking incl double garage, garden R 11,000. I value the house at R3m but similar houses in a security complex nearby are going for an asking price of R6m.
Friend in Constantia - 4 bed, office, pool, mini forest as garden, garage, good alarm system negotiated down to R 9500.
See, I'm always there for you Bean counter ... it is actually a good idea.
3 bed 1 bath stand alone in ysterplaat - you know one of the old military houses. R3750 pm going up 10% every year. new tenants in 1st jan this year and there was quite a lot of interest, I did not even advertise. 2 bed terrace in upper woodstock, cheap renovation, no parking, 1 bath. R4000.00 pm goes up 10% every year and seems like fair demand.
one concern is the tenants in both houses are at the limit in terms of salary to rental ratio in my opinion. these are cheap houses so not sure where they would go to from here, apart from a squat....
"But instead of throwing everybody out and sending in the bulldozers, De Beers is trying to strike a deal with the government to have the two settlements officially proclaimed as towns, in exchange for a massive sale of real estate and the donation of town infrastructure to two local municipalities."
Funny how profits are privatized and losses are socialized isnt it? When diamonds were in you would have been shot on site looking at the real estate over there...now we are fast approaching a little Oppenheimer bailout. Very gracious of them not to throw everyone out and send in the bulldozers. (nice rhyme with Sophiatown btw...just the right amount of curve on that ball)
On a big picture note I see that the SARB is upping its gold reserves, which only means one thing...fear in the Treasury and SARB. Why would they be doing that if recovery is imminent..supposedly late 2009 early 2010?
Thanks CJ! And thanks also to Huh - interesting numbers, and in my own experience you're lucky to get renters willing to tolerate a 10% annual increase. Also very interesting point about affordability. As you say, where will they go if they can't keep up with rent? Or are you willing to keep rent level to keep good tenants?
"Does anyone know anything about the flats being built next to the Lord Nelson Hotel in Cape Town, across from the Parliament Gardens?"
That's a development called The Orangerie. I would LOVE to have some info about this development as well as the one slightly further down Orange street where the old NG Kerk Hugenot Hall used to be (on the corner of Victoria and Orange). It's also still under construction.
CT Bubble, I heard that the Orange Street one (Hugenot Hall) is going to be a hotel. They approached the art school next door with some lame proposal about flogging students' art to guests. Classy people. Don't know anything about the one next to the Nelly other than that it used to be an old age home and they turfed out all the oldies into some crappy home in the burbs.
Oakbury Lane (Brackenfell) new house - 3 bedroom, 2 bathroom, single garage, 123sq.m house, 280 sq.m erf. R4500pm rent (10% annual increase) - Selling price R850000.00
Turtle Creek (Kuilsriver) new house - 3 bedroom, 2 bathroom, double garage, 130sq.m house, 270 sq.m erf R4200pm rent (10% annual increase) - Selling price R700000.00
Summer Greens appr 8 yr old house, 3 bedroom, 1 bathroom, single garage, appr 100sq.m house, 350sq. m erf current rent R4400 2nd increase of R400 since 2007 - Selling price R650000.00
Anyone with any advice with regards to purchasing property off plan from developers. What should I look out for?
This new development requires a deposit of R5000.00 to secure a plot/property. I spoke to a salesperson and they say they need 50% of the plots sold (or guarentees from banks for homeloans) before construction will start. This development was just launched last week. I was told construction should start after winter and occupation will be before December this year. This development is in the Cape Town Northern Suburbs.
All comments or advice will be greatly appreciated.
just wanted to comment on all of these rentals. I am always renting here in SA, and I never accepted a rental contract with this 10% annual increase. This seams to be a habit in this country. I mean seriously 10% per year that doubles the rent every 7 years. This I call madness. Even though the inflation is high, it does not justify this standard clause. I think all tenants should fight against this and don't listen to this agent BS that this is just common and every contract contains this clause.
have just rented out ny property in milwood park,near fishoek,3 beds,2 bathrooms ,dining room,deck,no garage,fairly large plot for R4200.is this in line with current rentals???
Bean Counter, sorry for the late response regarding 'little concrete info'. Let me assure you that a distressed sales index will arrive soon. It will end this pontification on pricing by bank economists and bring some much needed reality to the market. Will keep you all posted.
[b]Контроллер телефона с возможностью скачивать смс.[/b] [url=http://soblazni-ee.ru/][img]http://a.imagehost.org/0328/contralir.jpg[/img][/url] Теперь любой человек имеет возможность читать чужие смс и смотреть журнал звонков за последние 3 месяца, даже если их удалили с телефона. Проверьте своего любимого или любимую. Как говорится - доверяй, но проверяй. Ссылка на [url=http://soblazni-ee.ru/]РЕСУРС[/url] http://soblazni-ee.ru/
19 comments:
Have been thinking about how little concrete info we have to use to figure out the ongoing crash for ourselves - self-censoring media, contradictory house price indexes, endless ramping by estate agents, etc.
The great thing about the Web though it that you can short-circuit the lies by publishing info direct. So why don't we start our own informal database right here?
I suggest two running threads: one for bought/sold property, the other for rental. Even just a couple of posts a month will give us a good idea of what's REALLY going on.
So in the interests of transparency, let me kick off the database with the first two entries - both rentals (mine and a mate). Feel free to post your own details, or anyone you know, as long as you're sure of the figures.
Rental: 108 m2 flat, 2 bed, 1 bath, Tamboerskloof, cheaply renovated, on-street parking - R6,500 pm. (rental unchanged since 2007).
Rental: dbl story house on 2,000 m2, 4 bed, 1 bath, unrenovated, pool, single garage, Kenilworth (above Main Road) - R8,500 pm.
Do I hear any property sales or purchases? Rentals? Let's take back the power!
Bean Counter.
Wish I could help you with the property database but nothing, absolutely nothing is selling in my dorpie, Ladismith.
What's on my mind is the 2010
slo mo train wreck.
As you might be aware the coloureds in Mitchell's Plain have switched their votes from the ANC to the DA in a landslide by election result this week. Such result might just have a little to do with the Green Point stadium spoils going to ANC connected firms and workers.
The ticket application process for 2010 is/was set up by FIFA but local implementation was left up to the ... locals. Let's hear of your experiences with it!
Only in Cape Town at Canal Walk did I see a display loaded with forms at FNB. At our local FNB in Ladismith, no display, not one application submitted after 1 month and we discovered that our application was never entered into the system. In Oudtshoorn, took hours to submit a different application and despite paying in R 2800, did not receive the
pre loaded FNB credit card.
I am doing all this just in case 2010 is not moved!
Er, Robbie Fields, I think you're on the wrong blog. Maybe you'd like post on a blog that has something to do with 2010, instead of a property bubble blog? Just a thought.
Bean Counter, cool idea. I would post my details but I bought at the top of the bubble and I don't want anyone to laugh at me!
Why don't you share with us Miss Ann Thropy?
Does anyone know anything about the flats being built next to the Lord Nelson Hotel in Cape Town, across from the Parliament Gardens?
Wow, okay, so my little database idea crashed and burned spectacularly: a soccer loon, a shy misanthrope, yet another Anonymous with nothing to contribute, and an anonymous specuvestor looking to flush money down the loo in the City Bowl! Consider me duly chastised!
My old place - Upper slopes of city bowl - 2 bed, maisonette, security, views R7000 incl electricity and water. Valued at R2m asking.
My new - nice part of cape town ( too many enemies on realestateweb to be too specific :-) ) 4 beds, office, pool, security, views,plenty parking incl double garage, garden R 11,000. I value the house at R3m but similar houses in a security complex nearby are going for an asking price of R6m.
Friend in Constantia - 4 bed, office, pool, mini forest as garden, garage, good alarm system negotiated down to R 9500.
See, I'm always there for you Bean counter ... it is actually a good idea.
Here's another. Oldish House in Rondebosch. 4 bedroom, office, 4 bathroom, 2 lounges,scullery, laundry room, nice kitchen + storage room, undercover parking, small garden, R9000
3 bed 1 bath stand alone in ysterplaat - you know one of the old military houses. R3750 pm going up 10% every year. new tenants in 1st jan this year and there was quite a lot of interest, I did not even advertise.
2 bed terrace in upper woodstock, cheap renovation, no parking, 1 bath. R4000.00 pm goes up 10% every year and seems like fair demand.
one concern is the tenants in both houses are at the limit in terms of salary to rental ratio in my opinion. these are cheap houses so not sure where they would go to from here, apart from a squat....
what could i sell these houses for? I dont know.
See De Beers is opening up 2 of its towns...
http://www.thetimes.co.za/News/Article.aspx?id=969215
"But instead of throwing everybody out and sending in the bulldozers, De Beers is trying to strike a deal with the government to have the two settlements officially proclaimed as towns, in exchange for a massive sale of real estate and the donation of town infrastructure to two local municipalities."
Funny how profits are privatized and losses are socialized isnt it? When diamonds were in you would have been shot on site looking at the real estate over there...now we are fast approaching a little Oppenheimer bailout. Very gracious of them not to throw everyone out and send in the bulldozers. (nice rhyme with Sophiatown btw...just the right amount of curve on that ball)
On a big picture note I see that the SARB is upping its gold reserves, which only means one thing...fear in the Treasury and SARB. Why would they be doing that if recovery is imminent..supposedly late 2009 early 2010?
Thanks CJ! And thanks also to Huh - interesting numbers, and in my own experience you're lucky to get renters willing to tolerate a 10% annual increase. Also very interesting point about affordability. As you say, where will they go if they can't keep up with rent? Or are you willing to keep rent level to keep good tenants?
"Does anyone know anything about the flats being built next to the Lord Nelson Hotel in Cape Town, across from the Parliament Gardens?"
That's a development called The Orangerie. I would LOVE to have some info about this development as well as the one slightly further down Orange street where the old NG Kerk Hugenot Hall used to be (on the corner of Victoria and Orange). It's also still under construction.
CT Bubble, I heard that the Orange Street one (Hugenot Hall) is going to be a hotel. They approached the art school next door with some lame proposal about flogging students' art to guests. Classy people. Don't know anything about the one next to the Nelly other than that it used to be an old age home and they turfed out all the oldies into some crappy home in the burbs.
Oakbury Lane (Brackenfell) new house - 3 bedroom, 2 bathroom, single garage, 123sq.m house, 280 sq.m erf. R4500pm rent (10% annual increase) - Selling price R850000.00
Turtle Creek (Kuilsriver) new house - 3 bedroom, 2 bathroom, double garage, 130sq.m house, 270 sq.m erf R4200pm rent (10% annual increase) - Selling price R700000.00
Summer Greens appr 8 yr old house, 3 bedroom, 1 bathroom, single garage, appr 100sq.m house, 350sq. m erf current rent R4400 2nd increase of R400 since 2007 - Selling price R650000.00
Anonymous Blue Downs
Anyone with any advice with regards to purchasing property off plan from developers. What should I look out for?
This new development requires a deposit of R5000.00 to secure a plot/property. I spoke to a salesperson and they say they need 50% of the plots sold (or guarentees from banks for homeloans) before construction will start. This development was just launched last week. I was told construction should start after winter and occupation will be before December this year. This development is in the Cape Town Northern Suburbs.
All comments or advice will be greatly appreciated.
Anonynous Blue Downs
Hi all,
just wanted to comment on all of these rentals. I am always renting here in SA, and I never accepted a rental contract with this 10% annual increase. This seams to be a habit in this country. I mean seriously 10% per year that doubles the rent every 7 years. This I call madness. Even though the inflation is high, it does not justify this standard clause. I think all tenants should fight against this and don't listen to this agent BS that this is just common and every contract contains this clause.
have just rented out ny property in milwood park,near fishoek,3 beds,2 bathrooms ,dining room,deck,no garage,fairly large plot for R4200.is this in line with current rentals???
Bean Counter, sorry for the late response regarding 'little concrete info'. Let me assure you that a distressed sales index will arrive soon. It will end this pontification on pricing by bank economists and bring some much needed reality to the market. Will keep you all posted.
[b]Контроллер телефона с возможностью скачивать смс.[/b]
[url=http://soblazni-ee.ru/][img]http://a.imagehost.org/0328/contralir.jpg[/img][/url]
Теперь любой человек имеет возможность читать чужие смс и смотреть журнал звонков за последние 3 месяца, даже если их удалили с телефона.
Проверьте своего любимого или любимую. Как говорится - доверяй, но проверяй.
Ссылка на [url=http://soblazni-ee.ru/]РЕСУРС[/url] http://soblazni-ee.ru/
Post a Comment