13 May 2012
03 May 2012
What The Hell?
From the latest Lightstone quarterly property report:
Is the Western Cape property price inflation about to go through the floor? And why has it diverged so far from the national average?
Is the Western Cape property price inflation about to go through the floor? And why has it diverged so far from the national average?
19 February 2012
Sunday Open Thread: Pawpaw Hits The Fan At Auction Alliance
Auction kickback scandal
Auction company Auction Alliance has allegedly been colluding with banks, liquidators and attorneys in a money making racket, according to reports on Saturday.The Saturday Star reported that a 13-year old paper trail revealed that the company had paid kickbacks to attorneys, liquidators, and bank staff to ensure business went their way.
29 January 2012
22 January 2012
15 January 2012
09 January 2012
08 January 2012
01 January 2012
25 December 2011
Christmas Sunday Open Thread
I'm somewhere in the Garden Route dodging for sale signs on golf estates, but it's still time for the open thread - Christmas edition!
18 December 2011
15 December 2011
The Orangerie: Will The Bloodbath Stop?
Now Pam Golding has two more 2 bed units with an asking price of R2 395 000. And there is no transfer duty as it's direct from the developer, which means that if you bought in the Orangerie and you're trying to sell you are competing with the developer, who can probably cut prices again if required, and the buyer has to pay transfer.
Good luck!
12 December 2011
Sunday Open Thread
It's the Sunday Open Thread. This weeks topic, with the selling season in high gear are things worse, better or the same for agents and sellers?
27 November 2011
24 November 2011
The Orangerie: The Bloodbath Continues
This ad is a new listing for a 2 bed apartment in The Orangerie.
The asking price? Now down to R2 500 000.
22 November 2011
Rare Sale In Execution In Sea Point Spotted
Sea Point Reader-in-Chief PJ writes:
Spotted a rare notice of a Sale In Execution on an apartment in Sea Point in a block called Oakholm. Usually the process never gets that far because a buyer usually steps in beforehand. Not this time...
20 November 2011
17 November 2011
Well This Is A First
Just received a spam SMS from Burgundy Estates.
Guess no one is walking into the sales office anymore...
Guess no one is walking into the sales office anymore...
08 November 2011
ABSA: House Prices Growth Lagging Behind Inflation
Houses hurting as inflation outpaces property prices
House prices are not growing in line with inflation, according to Absa's latest property price indices released on Monday.
"The average real price [at constant 2008 prices] of houses in the middle-segment of the market was in September this year about 13% below its peak of mid-2007," Absa Home Loans property analyst Jacques du Toit said in a statement.
"This was the result of average nominal house price growth being below the average headline consumer price inflation rate during this period."
In nominal growth, the effects of inflation are not taken into account, while real prices factor in the effect of inflation.
03 November 2011
Your Architecture Is Sad: Sea Point
There's bad architecture... and then there's sad architecture. This 3 bed house in Sea Point sent in by reader PJ is a prime example of that. PJ writes:
Sea Point is home to a fantastic mixture of architecture. But look at this POS. It's two concrete boxes stacked on top of each other. They'll call it "modern", I call it cheap.
26 October 2011
Lew Geffen Atlantic Seaboard Dust Up
Trust me being out the country when some truly juicy stuff starts going down. It seems Lew Geffen is getting into some dirty dealings with his Atlantic Seaboard franchisees. Reader KS sent me a link to a blog covering all the news: Lew Geffen Sothebys Scandals.
11 October 2011
Epic 4 Week Open Thread
Been shipped off to the UK for 2 weeks followed by another 2 weeks holiday touring around Europa. See you in a bit.
02 October 2011
25 September 2011
Mandela Rhodes Place Liquidated
When we first wrote about Mandela Rhodes Pace back in February 2007, it was literally underwater.
Then in July 2011 we heard that even though it had been completed years earlier it was still releasing unsold apartments onto the market.
And now, it's being liquidated with supposedly 62(!) unsold apartments hitting the market. If you bought into MRP and are trying to sell... my condolences.
Then in July 2011 we heard that even though it had been completed years earlier it was still releasing unsold apartments onto the market.
And now, it's being liquidated with supposedly 62(!) unsold apartments hitting the market. If you bought into MRP and are trying to sell... my condolences.
24 September 2011
20 September 2011
Ugliest House in Cape Town on Auction!
Reader DM wrote in to tell us that the ugliest house in Cape Town, last seen on sale for 10 bar in April 2011, is now up for auction.Just read this opening sentence: 'Buy the plot and get the house for free'. It's so ugly it's nearly worthless!
18 September 2011
Sunday Open Thread
It's the Sunday Open Thread.
Folks I'm being absolutely smashed at work at the moment and there's a very good chance I'm going to be sent to Ol' Blighty for a month or so, so posting might be light till then...
Folks I'm being absolutely smashed at work at the moment and there's a very good chance I'm going to be sent to Ol' Blighty for a month or so, so posting might be light till then...
10 September 2011
03 September 2011
01 September 2011
Golf Estate Holiday Homes - A Match Made in Financial Hell
We know that when things turn south in the property market, holiday homes are usually the first to be offloaded at discount prices. And we also know that golf estates tend to be crap investments. So combine the two and what do you get? The Garden Route!
Property slump hits Garden Route golf estates
The property market slump has also taken the shine off the host of multimillion-rand golf estate developments on the Garden Route, a sector which less than 10 years ago was still being heralded as a major economic driver for the region.
This year alone the golf estates of Pinnacle Point in Mossel Bay and Le Grande in George have been on the receiving end of insolvency rulings, while property advertising suggests other Garden Route golf estates are under pressure.
Last week there were 26 properties for sale at the Oubaai golf estate outside George, with stands from R1 million to luxury houses listed for R10m up for grabs.
Pinnacle Point had 15 properties for sale, including a R14m luxury house, 53 properties were listed at Pezula in Knysnawhile 46 properties were on sale at Kingswood in George.
Subscribe to:
Posts (Atom)