Saturday Open Thread

It's the Saturday Open Thread: Anything Goes Edition

Saturday Open Thread - Winter's Coming

It's the Saturday open thread. Now that winter is creeping into Cape Town, what role do the seasons play in the ability to sell a house?

Sunday Times Still Claims Sol Kerzner Staged One&Only Sale

Back in June 2009 I reported that despite claiming 1 of the 3 penthouses had been sold at the One&Only V&A Waterfront for a record breaking R110 million, all three were seemingly still on sale.

The Sunday Times then reported in August of that year that in fact the sale had seemingly been staged by Sol Kerzner to himself. This was vigorously denied by the agents involved (Seeff Atlantic Seaboard) with many a disapproving harumph.

On Sunday The Sunday Times ran an article about a property under construction that will supposedly eclipse that record price and they started that article with:

Hotel magnate Sol Kerzner, who co-owns the country's most expensive home, is about to lose his bragging rights.

An double-storey mansion still under construction is on the market for R110-million - and the developers are entertaining offers from five international jet-set celebrities.

Kerzner bought his 800m² duplex apartment, which runs across the top two floors of the One&Only hotel in Cape Town's V&A Waterfront, for a record R109-million in 2008.

So they seem to be confidently stating that Kerzner was in fact the buyer, or at least the co-buyer. I'll consider that case closed.

Saturday Open Thread

It's the saturday open thread. This weeks topic - "Long Term Apartment Living - Yea or Nay?"

Not Selling? Drop The Price 1.5%!

Just got this in my email for this apartment:

Price Reduced by R 15 000 to R 935 000

I'm sure that 1.57% drop in asking price will really change peoples minds....

Update: And another - "Price Reduced by R 14 000 to R 985 000"

What's that.. 1.4% off? Be still my beating heart!

Sunday Open Thread

Just woke up from my Stormers-loss induced hangover. This is the Sunday Open Thread...

Ugliest House in Cape Town Still For Sale - Less R5 Million

The ugliest house in Cape Town is still for sale at R9 995 000. That's a R4 550 000 drop in price from R14 500 000 asking in April 2010. With that saved five bar you can buy yourself some taste.

PIC Syndications Looking Wobbly

After the pawpaw hit the fan with Sharemax it now looks like PIC Syndications is going the same way:

Property mogul Nic Georgiou has walked away from "guarantees" he supposedly made to thousands of investors in PIC Syndications.

For some time PIC Syndications, led by its apparent owner and CEO, Rikus Myburgh, and joint MDs, Ben van der Linde and Morkel Steyn, has been selling shares to investors with the assurance that their income and capital were "guaranteed".

Realestateweb and others have questioned this supposed guarantee, which was backed by Georgiou and his associated entities. We noted that while Georgiou appeared to be a wealthy businessman, his financial affairs are not open to public scrutiny. It was simply impossible for investors or their financial advisers to determine his net wealth - for all they knew, Georgiou could be mired in debt.

Saturday Open Thread

It's the Saturday Open Thread. This weeks topic: If you are buying now, what discount off the asking price should you be aiming for?