Maintain a garage door

An automated garage door is an expensive investment that requires annual maintenance to keep it operating well and in tip-top condition. Taking the time to do a few basic tasks will ensure that your garage door performs well and extends the life of the door and motor.



Most homeowners devote a lot of time to keeping their homes in tip-top condition, and a garage door is just as much a part of the home. Simply by undertaking a few regular tasks, you can maintain the life of a garage door and prevent it from looking tired and worn.

Timber door

Sectional timber doors are by far the most popular types of doors installed for use on garages. These are normally manufactured in Meranti and do require annual maintenance to keep them looking good.

Sealer or varnish applied to the finish will only protect for a certain amount of time before it needs to be refinished.

In the case of varnish, restoration becomes a more time consuming task, as the existing varnish needs to be sanded down before any repairs can take place.

Timber doors that have been sealed are far easier to maintain on a regular basis. In most cases the timber surface will only need to be wiped down with steel wool and mineral turpentine to prepare for a new application of sealer.

To allow for easy annual maintenance, we recommend using a product such as Woodoc 30 or Woodoc 50 to nourish and protect your timber garage door. Woodoc 50

Steel door

Sectional steel doors can be just as attractive as timber doors, with the added benefit of requiring less annual maintenance than a timber door. A regular cleaning with warm, soapy water will ensure that the coated finish remains stain-free and looking good for longer.

In the event of scratches or stains, a light sanding with 180-grit sandpaper before applying a coat of spray paint will restore the finish to almost new condition.

Now that we have tackled the exterior of a garage door, let’s look behind the door. This is the area that homeowners tend to pay the least attention to, yet this is where the most problems occur.

Most sectional garage doors consist of hinged sections mounted on roller bearings that run along a steel track. The door itself is too heavy for easy lifting, so the main bulk of the weight is support on torsion springs mounted over or at the side of the door. Regular maintenance of these parts allows smooth and easy opening and closing. Any worn or damaged parts should be replaced.

Door tracks and runners

An automated garage door runs on tracks that allow for easy opening and closing.

Over time, these tracks and the door runners can become clogged up with dirt and debris, causing the door to stutter or stick.

A high-pressure hose will clean out any build up and then it’s time to dry and lightly lubricate with a product such as WD-40 or Q-20.

A soft scrubbing brush can be used to remove any build up of dust. If there are layers and layers of dust it might take a bit longer.





Tighten any loose nuts and bolts and replace any missing fasteners as required.

Your local Builders Warehousestore will be able to assist with suitable replacements if you take along a sample as a reference.

GOOD TO KNOW

Do not use grease on the runners or tracks, as these will attract dirt and debris and increase the likelihood of future problems



Door chain

If your automated garage door runs on a chain, this is where you will apply a grease lubricant.

Use a lint-free cloth and spray on some Q-20 or WD-40 lubricant to wipe over the track and chain. This is where a build-up of dust can cause wear on the motor. Dust sticks to the old grease, causing the motor to work harder to open the door.



Run a small scrubbing brush along the length of the chain to clean out the links.

A thin layer of bicycle grease rubbed along the chain will not only quieten the door, it will ensure smooth running.


Torsion springs
The door springs allow a garage door to operate effectively.

However, due to the tightly compressed nature of these springs, any repairs required are best undertaken by a professional.

But that doesn’t mean that you cannot ensure that the springs stay rust-free and lubricated.



Apply a light spray with WD-40 or Q-20, from side to side along the length of the spring, ensuring that you also spray inside the spring as well.

Also spray along the length of the steel rod that supports the torsion spring.

GOOD TO KNOW

Do not perform any repairs to the springs and take care when applying lubricant.

Door motor

Annual maintenance on the door motor should include using a blower to clean out any build up of dust and replacing the light bulb. Faults or repairs on the motor should be carried out by a professional, unless you have experience in this field.



Lock mechanism

An annual application of WD-40 or Q-20 will prevent the lock from rusting or freezing up.

Also make sure that you clean and lubricate the lock spring mechanisms on either side of the door.



Putting off these annual maintenance tasks could mean that you will have to replace the motor, torsion springs, or even the entire system.

Compliments of:

http://www.home-dzine.co.za

Create your own stylish plant pipe

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Create your own stylish plant pipe

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22 Aug 2012

Nothing is more difficult than trying to decide on how to decorate an empty wall. Sometimes, you are looking for something out of the ordinary and eye catching to spruce up your wall and we have just the thing.

This is just the thing if you are looking for something eye catching and unique to spruce up your wall.

Make your own wall mounted flower container.
Using nothing but a few power tools and a PVC pipe, you can create an instant conversation starter.
And here is how:
Take a PVC pipe, any length that you choose and mark the centre of the pipe and then mark every 4cm.
Then take a power drill with a spade bit and drill holes along the length of your PVC pipe as marked.
You could also opt to cut a hole in the pipe with a simple cutter or carpet knife, but it is easier with the drill. And you are less likely to cut yourself.
Use a Dremel MultiTool and cutting disk to cut out the remaining jagged edges and then sand the pipe smooth.

Use a Dremel MultiTool and cutting disk to cut out the remaining jagged edges and then sand the pipe smooth.

You are going to need end caps for the pipe. You can cut these out of PVC sheet, plexi-glass or even scrap pine.
Cut your chosen bits to size and fit the caps into both ends of the pipe.
Now the pipe is ready to be painted.
You can choose to use Rust-Oleum Universal spray to paint, as it bonds well with the pipe.
Make sure to spray the pipe in a well ventilated area, and then leave it to dry overnight.
Drill two holes in the back side of the pipe, for hanging purposes. Then glue two pen caps from the inside into the holes and leave it to dry.
Your plants are going to need something to grab hold of in there, so push florists sponge into the pipe.
Florist sponge serves as a substitute for earth and will not fall out of the tube when it is hanging on the wall.
You can get florist sponge at any florist, craft or hobby store.
The great thing about florist sponge is that it stores about 10 times its volume of water, which means your arrangement will only need to be topped up about once a week.
Stick a few of your favourite plants (that do not need a lot of water) into the tube, hang on the wall and wait for the compliments to start rolling in.
Article courtesy of: www.home-dzine.co.za

 MARGATE, HIBISCUS COAST
Kwazulu Natal, South Africa

MARGATE PROPERTY. HOUSES FOR SALE IN MARGATE KZN LOWER SOUTH COAST / HIBISCUS COAST SOUTH AFRICA. This house is situated in a very good part of Margate close to town and beaches. From this area you also have quick and easy access to the Margate off ramp on the N2. The house consists of 3 bedrooms all with en-suite full bathrooms, private entrance and BIC's. 2 of the 3 bedrooms are sea facing with good sea views and their own little patios. This property in Margate lends well for a small B&B and is already registered as such. The house has a large kitchen with separate scullery and separate laundry. the lounge , dinning room area is big with great views of Margate town and the sea. The house further offers a tandem garage and a car port big enough for a caravan. The property has a separate room on the out side that would work well as an office, it is currently used as a Postnatal Clinic. The property has a beautiful garden and good sea views. MARGATE BEACH is always alive with action. The' mile long' beach in Margate is an attraction that appeals to all. In season, Margate over a festive holiday programme with beauty pageants, musical concerts, and lots of fun for the whole family to enjoy. Margate Beach is a fundamental part of the town that surrounds it. On Margate Beach you will find an amusement park, Olympic size fresh water pool and an expanse of sand to play beach games. Change Rooms, Ablution Facilities, Lifesavers, Shark Nets, Swimming, Surfing, Fishing. Margate beach is a Blue Flag Beach.

Why banks reject your home loan

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Why banks reject your home loan

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21 Aug 2012

There are some common reasons why banks reject home loan applications that would-be buyers should be aware of before applying for finance.

12% of applicants were rejected based on insufficient cash flow. The applicant’s position in many cases looked sound on paper, but their actual cash flow was insufficient. Self-employed people were seen as particularly vulnerable in this respect, financial accounts often revealing long lag times by debtors or payment defaults to them.

In an attempt to understand why a high proportion of mortgage bond applications are turned down, Rawson Property Group commissioned former Absa Bank Regional Manager, Mike van Alphen, to go through a large sample of Rawson Finance’s July bond applications.
Van Alphen, now with Rawson Financial Services, reported back that the chief reasons for the ‘declines’ had been:
Bad credit records
Van Alphen says this accounted for 32% of the rand value of the rejected files. What is more, he explains the banks are fairly consistent in their assessments: in more than 90% of the cases, at least three (sometimes more) of the banks took the same stance on the rejected applications, always giving the same reasons, i.e. unfavourable credit records.
Checking in certain cases with the credit bureau, the investigation found that these failed applicants usually had two or three court judgments against them and some had had unpaid debts written off by the banks.
“Bad credit records, therefore, emerged as the prime reason for bank rejections and this should be borne in mind by any bond mortgage applicants.”
Unsatisfactory credit score cards
Every loan application is fully screened by the bank and points are allocated based on the criteria in a bank’s Credit Score Card System.
If an applicant does not reach a certain minimum level of points, the application will be declined. 18% of the rejected applicants were due to the client not reaching the minimum credit score. Such clients, says van Alphen, could probably not afford the bond, alternatively their conduct on existing bank accounts had been unreliable (they had often responded negatively to bank requests for details). 
In addition, the banks took a hard look at the applicant’s employment record:  excessive job swapping and long periods out of work also counted against acceptance.
Affordability
As in the above category, the applicants here were rejected because investigations into their financial standing showed that they either did not earn enough or, more commonly, that they had not disclosed all their expenses to the consultant.
Undisclosed expenses were often uncovered by the Credit Bureau and the banks' own records.
“These obviously affect the client’s disposable income and his ability to repay the new loan,” says van Alphen.
In certain cases it was, however, possible to prove that the outstanding accounts had in fact been settled. Nevertheless, 12% of the rejected applicants were disqualified on this count.
Insufficient cash flow
12% of applicants were rejected for this reason. The applicant’s position in many cases looked sound on paper, but their actual cash flow was insufficient. 
Self-employed people were seen as particularly vulnerable in this respect, financial accounts often revealing long lag times by debtors or payment defaults to them.
Poor account conduct
11% of rejected applicants were turned down for this reason, the applicants' existing record with their bank already being tarnished.
Drawer cheques, unauthorised overdrafts and arrears on loan accounts and credit cards were the main reasons for the banks’ lack of trust in such applicants’ financial reliability.
Self-employment
This factor, as already mentioned, resulted in a small but significant group being rejected, particularly if their accounts showed an inability to prove the income they claimed they were receiving.
It must also be noted that all banks require a self-employed applicant to have at least a 10% deposit and reserve the right to call for a higher deposit to be paid.
Once the bank had assessed the mortgage bond application, they sometimes decided that they would grant a lower bond amount than was applied for. This would be based on one or more of the reasons mentioned above.
In many of these cases the client did not have the extra cash required for the deposit and the application was closed.
Poor financials
In 3% of cases, the applicant’s business or corporate accounts were either not available or were not quite in order, which led to rejection. In one case (only), the failure to produce the required additional documents within the stipulated time also led to rejection.
“Obviously this report will be valuable to our bond origination division and will help them to hone up their skills in pre-qualifying applicants," says Bill Rawson, Chairman of the Rawson Property Group. 
Nevertheless, he says the information should also be taken to heart by all individuals planning to apply for a bond and they should set about establishing clean records long before they start looking at houses and applying for finance. 
"South Africa’s banks are, by and large, efficient, and their score card system, although regarded by many as inflexible and a little too conservative, has in the last two years ensured that very few ‘dicey’ applicants are approved,” says Rawson.
Rawson adds that it was encouraging to note from Mike van Alphen’s survey, that over 60% of Rawson Finance’s applications for bond finance are now being accepted. This, he says, is an impressive figure because their service covers every income group in the country. 

http://www.thepropertycircle.co.za

WEDNESDAY AUG 22, 2012

Property repairs can sour relations between landlords and tenants

There is a critical shortage of ownership and rental housing despite the government's efforts to tackle the backlog. In fact, negligible rental stock has been provided by the private sector since 1994.
The government sold much of its rental stock during this period, whittling away the inadequate rental provision.
Given that rentals are determined by market forces, housing, and consequently tenants, are mere commodities.
Prospective tenants are usually desperate since rental stock is market-related. In other words, supply and demand determines who is able to pay the price (rental) on a take it or leave it basis.
Insufficient supply means higher rentals because of the demand by prospective tenants. They are often forced by market forces and their own distressed circumstances to agree to harsh lease conditions and unexpected developments.
A prospective tenant must guard against making an emotional or rash decision like paying the security deposit several months in advance to secure a dwelling.
The offer to rent can be appealing if the landlord proposes that after payment of the security deposit and the first month's rental in advance, the tenant does not have to pay for six months.
During this rent-free period the tenant must carry out repairs at her own cost.
What does she do if the landlord later changes his mind or is unable to refund the money?
What if the landlord is not the owner of the dwelling and cannot be found?
It does not matter if the landlord hands over the keys to the dwelling because the locks can be changed and another person given occupation.
The legal costs would prevent most prospective tenants from pursuing the monetary claim and suing for breach of contract.
Then there is the matter of finding out about the problems that were not noticeable when the dwelling was viewed.
The lease states that the tenant cannot deduct from the rental or set off against it any amount for repairs.
Our law allows a tenant on an oral lease, or in the absence of a written clause prohibiting deductions, to deduct the cost of repairs from the month's rental, or if the amount exceeds the month's rental, then to set off the cost of repairs against the rentals.
The deduction is conditional upon the tenant placing the landlord on 14 days' written notice to attend to the repairs, failing which she would do so and deduct the cost that is incurred.
In Lester Investments (Pty) Ltd versus Narshi 1951 (2) SA 464 (C) at 468, acting judge Van Winsen held that the courts recognised the right of the tenant under certain conditions to deduct the amount spent on repairs from the rent.
"These conditions are that the work done must be in the nature of repairs properly socalled, that there must have been prior demand and notice to the landlord, and the latter must have failed or refused to effect the repairs himself. See Poynton versus Cran, 1910 AD 205 at p. 227."
In the Poynton case, the tenant signed a lease which stated that he would not be able to deduct from the rent at all, and that he would be responsible for the internal and external repairs and maintenance of the premises (a hotel).
In spite of these conditions in the lease, the landlady was under duty to ensure the property was repaired at the outset of the lease, and handed over in a tenantable condition.
The tenant did not accept the premises with the defects; if he had, then he would have had no claim because this would have been a waiver.
Lord de Villiers, CJ, said that he did not think the clause in the lease providing for the payment of rent on a certain day "without any deduction whatever" had that result.
"That provision cannot relieve the landlady of her obligation to place the leased property in repair, or deprive the tenant of the remedy which the law gives him in respect of her initial default."
It is important to get legal advice before carrying out repairs, and not to pay the security deposit and rental in advance when not intending to take immediate occupation. is the chairman, Organisation of Civic Rights.
Tenant Issues
Sayeb Iqbal Mohamed
Daily News

MARGATE, HIBISCUS COAST

Kwazulu Natal, South Africa

PROPERTY FOR SALE IN MARGATE, HIBISCUS COAST. HOUSE FOR SALE IN MARGATE KWAZULU NATAL. This is a lovely large and spacious house situated in the popular Margate. The property consists of a 4 bedroom, 2 bathroom house, a separate 1 bedroom flat with 1 bathroom as well as a 2 bedroom flat with 2 bathrooms. The property has 2 braai area’s and an entertainment area, 2 lock-up garages and a carport. This property is situated in the Fairy Glen area of Margate close to amenities. This house has great rental potential and is priced to sell. MARGATE BEACH is always alive with action. The' mile long' beach in Margate is an attraction that appeals to all. In season, Margate over a festive holiday programme with beauty pageants, musical concerts, and lots of fun for the whole family to enjoy. Margate Beach is a fundamental part of the town that surrounds it. On Margate Beach you will find an amusement park, Olympic size fresh water pool and an expanse of sand to play beach games. Change Rooms, Ablution Facilities, Lifesavers, Shark Nets, Swimming, Surfing, Fishing. Margate beach is a Blue Flag Beach.

Home loan deposits low at 12.6 percent

Home loan deposits low at 12.6 percent
PUBLISHED 21 AUG 2012
20 Aug 2012 Home prices grew year-on-year especially for first-time buyers, according to the latest statistics from ooba, South Africa’s leading bond originator.

The ooba statistics have continued to show a reduction in the average home loan deposit, down from 15.1 percent of the purchase price in July 2011 to 12.6 percent of the purchase price in July 2012 and lower than the 15.0 percent of the purchase price recorded last month.

The report reveals a simultaneous decline in the size of the deposit required, all of which are positive indicators for the residential property market.
According to the report, the average purchase price in July 2012 was R846 863 up 3.1 percent from R821 579 in July 2011.
The average purchase price for first-time buyers showed a year-on-year (y/y) increase for the fifteenth consecutive month from R609 417 in July 2011 to R657 069 in July this year, a y/y increase of 7.8 percent. 
The month-on-month purchase price statistics do, however, indicate a trend of slowing growth in property prices, in line with slowing economic growth, says Rhys Dyer, chief operating officer of ooba.
“Of our total intake of bond applications in July, 53 percent were from first-time buyers, a 5.0 percent increase from last year,” says Dyer.
Dyer says the sustained higher levels of first-time buyer activity are underpinning good y/y growth in property prices in the first-time buyer segments.
The ooba statistics have continued to show a reduction in the average home loan deposit, down from 15.1 percent of the purchase price in July 2011 to 12.6 percent of the purchase price in July 2012 and lower than the 15.0 percent of the purchase price recorded last month.
The reduction in deposits is a good indicator of bank credit appetite, reflecting improved access to finance for home buyers with limited deposits, he says.
A further indicator of credit conditions is the effective approval rate, the measure of the percentage of loan applications that ooba is able to obtain an approval for, growing to 65.3 percent of applications, up from 64.2 percent last year, explains Dyer.
Dyer says that this increase in the approval rate is driven by a healthy improvement in the percentage of applications that are declined by one bank but approved by another, up from 23.1 percent of applications last year to 27.6 percent this year, highlighting the importance of shopping around for finance.
The trailing approval rate, which takes into account loans approved via ooba after month-end is 68.6 percent, meaning that almost seven out of every ten home loan applications originated through ooba are currently being approved.
These improved lending conditions continue to drive strong year-on-year value growth, with ooba reporting a 28 percent y/y increase in the value of its home loan applications and a 38 percent y/y increase in the value of home loan approvals in July 2012.
This is the best monthly performance recorded by ooba since early 2008.
Dyer says the decision by the MPC to drop interest rates in July by a further 0.5 percent is likely to add further mild stimulus to the lending environment, improving the ability for home buyers to qualify for loans, especially in the active first-time home buyer space.
“This, coupled with the improvements in approval rates and average deposits, is likely to sustain the current higher levels of lending activity,” he says.

First-timers urged to buy homes now

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First-timers urged to buy homes now

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17 Aug 2012

Would-be first-time home buyers are urged to buy now as there couldn’t be a better time to enter the property market.

For a start, he explains that despite the fact that the average home purchase price among first-time buyers has climbed steadily in the past four months from R582 000 to R621 000, and is currently also 5 percent higher than at this time last year – home ownership has actually become more affordable, thanks to the easing of credit restrictions and of course, an interest rate cut.

Rudi Botha, chief executive officer of BetterBond notes that the residential property market has reached a stage that occurs only very rarely, in which several major factors are all aligned in favour of first-time buyers.
He says this is clearly evident in BetterBond’s latest statistics, which represent 25 percent of all residential mortgage bonds being registered in the Deeds Office and include applications to, and bond grants from, all the major lending banks in South Africa.
For a start, he explains that despite the fact that the average home purchase price among first-time buyers has climbed steadily in the past four months from R582 000 to R621 000, and is currently also 5 percent higher than at this time last year – home ownership has actually become more affordable, thanks to the easing of credit restrictions and of course, an interest rate cut.
“At the moment, about four out of every 10 home loans approved are 100 percent loans and most of these are going to first-time buyers, including those in the affordable sector.”
Botha says the average percentage deposit required by first-time buyers who don’t manage to secure a 100 percent loan has declined from 11.5 percent of the purchase price to 9 percent.
So effectively, the average deposit amount for such buyers has fallen to around R56 000 compared to R71 000 earlier this year – even though home prices are higher, he says.
“This relief now combined with lower home loan interest rates since the Reserve Bank cut the repo rate by 0.5 percentage points in July, is further increasing affordability levels for first-time buyers.”
For example, at the current standard home loan interest rate of 8.5 percent, the minimum monthly repayment on a bond of R621 000 (assuming a 100 percent loan) is R5389, compared to R5587 at an interest rate of 9 percent.
Lower interest rates do of course make it easier for would-be buyers to qualify for loans in the first place, he says.
Botha says these developments are already gaining the attention of keen buyers eager to enter the property market.
“First-time buyers accounted for 42 percent of all home loan applications in July compared to 37 percent four months ago, and the percentage of loans being granted to first-time buyers has at the same time risen from 35 to 39 percent,” he adds.

TUESDAY AUG 14, 2012

Huge transport shake-up for Durban

Durban's public transport system is set for a major overhaul as the city gears up to implement a multi-billion-rand integrated system.
On the cards for the Integrated Rapid Public Transport Network, in four phases over the next 10 years, at a total estimated cost of R25 billion, are:

The procurement of 800 extralong articulated buses serving three high-volume corridors: Bridge City (Kwamashu) to the CBD, Bridge City to Pinetown and Bridge City through the new Cornubia housing project to Umhlanga.

A rail route from Bridge City to the CBD running through Rossburgh, Isipingo and Umlazi.

The widening and upgrading of various roads for the first phase of the project, for which R2.4bn has already been secured from the national Transport Department. The city needs R8.4bn to fully implement the first phase.

Dedicated bus lanes and pedestrian walkways.

Upgraded bicycle lanes and parking facilities, and a bicycle-rent system from transfer stations, similar to those in London and Paris.

Park-and-ride facilities for commuters to park their vehicles and then board public transport.

A R1.5bn upgrade by the Passenger Rail Agency of stations and signals along the route to ensure efficient synergy between rail and road transport.

New stations and bus terminals.

CCTV coverage and enhanced security at all stations, monitored from a control centre.
The project is similar to the Bus Rapid Transit system pioneered in Cape Town and subsequently introduced in Gauteng.
The first phase of the project was given the green light after the city's executive committee granted its transport unit the authority to negotiate the acquisition of land needed for the project by private treaty or expropriation.
The properties, mainly in the northern parts of the city, would be transformed into new bus depots and terminals.
Thami Manyathi, the eThekwini Transport Authority head, said construction would begin in March, with the aim of having phase one up and running by 2016.
Manyathi said tenders for building the infrastructure would be advertised after the planning and preliminary design stage was concluded next month.
The massive project follows surveys done by the municipality to determine travel patterns across the city.
They showed the northern corridor had the biggest increase in traffic volumes and the most congestion as a result of employment opportunities and new developments in that region.
Logan Moodley, the city's deputy head of strategic transport planning, said traffic volume in the city between 2001 and 2011 had increased by 10 percent.
He said the vision of the new model was to improve the city's road infrastructure and create dedicated rights of way for public transport.
The system would feature dedicated bus lanes along the main routes, stations at regular intervals and terminals at major transport interchanges. Buses the size of the existing People Mover buses and midi buses would be used for feeder routes to transport commuters from residential areas to stations.
To prevent a possible conflict with taxis, as happened in Joburg and Cape Town, Durban has signed a draft memorandum of understanding with the industry.
The plan is to reduce the number of taxis on the route by allowing only buses and trains as part of the network.
"Joburg had worked a compensation model into the contract, paid over a 12-year period. In Cape Town a payout rate was negotiated with the operators and they [operators] can decide to either invest in the new business entity or cash in the money...," said Manyathi.
"Public transport in the city will have one brand, and the current Durban Transport buses will be part of the system," he added.
Durban Chamber of Commerce CEO Andrew Layman said there had been overwhelming reaction to the public transport project when it was presented to chamber members recently.
"It will deliver people to workplaces on time and consistently," he said.
Layman said that if the system was affordable and efficient, as it promised to be, people would embrace it as their transport of choice.
eThekwini Metro Management Taxi Council secretary Mdu Xaba said taxi operators should benefit financially from the transport plan.
"The system should be developed with the taxi operators. The city must not present a rigid plan that says taxis will be completely removed from the roads," he said.
The Mercury

FRIDAY AUG 17, 2012

First-time property buyers granted more 100% bonds

Home ownership has become more affordable, thanks to the easing of credit restrictions and, of course, an interest rate cut, says Rudi Botha of BetterBond.
At the moment, about four out of every 10 home loans approved are 100% loans and most of these are going to first-time buyers, including those in the affordable sector.
"In addition," says Botha, "the average percentage deposit required by first-time buyers who don't manage to secure a 100% loan has declined from 11,5% of the purchase price to 9%. So effectively, the average deposit amount for such buyers has fallen to around R56 000, compared to R71 000 earlier this year - even though home prices are higher."
And this relief is now combined with lower home loan interest rates since the Reserve Bank cut the repo rate by 0,5 percentage points in July, further increasing affordability levels for first-time buyers.
"For example, at the current 'standard' home loan interest rate of 8,5%, the minimum monthly repayment on a bond of R621 000 (assuming a 100% loan) is R5389, compared to R5587 at an interest rate of 9%. And lower rates do of course make it easier for prospective buyers to qualify for loans in the first place."
As it is, he says, these developments are already gaining the attention of prospective buyers eager to enter the property market.
"First-time buyers accounted for 42% of all bond applications in July, compared to 37% four months ago, and the percentage of loans being granted to first-time buyers has at the same time risen from 35% to 39%."
BetterBond Press Release

FRIDAY AUG 17, 2012

Durban considering Olympic bid for 2024

Yesterday Tubby Reddy, chief executive officer of the SA Olympic Committee and Sports Confederation (Sascoc), said they had already commissioned a feasibility study on a 2024 Olympic bid.
Expected to be done in two to three phases and completed next year, it will determine which city would be best suited to make the bid on behalf of the country.
South Africa was originally in the running for the 2020 Olympics until the government decided to withdraw to focus on social priorities, but it did hint about a 2024 bid.
This feasibility study ties in with the Sports and Events Tourism Exchange (SETE) conference and exhibition, to be held in Durban next month, where a 17year plan will be discussed and decided on with the National Sports Tourism Steering committee.
Conference director, Sugen Pillay, said the committee was tasked by Sascoc with developing and implementing a national strategy that would outline the key sports events which Sascoc, and its federations and partners, will be bidding for between 2013 and 2030.
"Almost a year of research and careful planning and preparation is set to come to fruition when the recommendations of the strategy are discussed and adopted at the forthcoming conference," Pillay said.
He added that the strategy would also look at how South Africa would bid for such events and also look at the capacity of each city.
From Daily News discussions with Sascoc, the national Department of Sports and Recreation, the eThekwini Municipality, the Durban Chamber of Commerce, tourism and sport authorities, Durban emerged as the city of choice should the country submit a bid for the 2024 Olympics.
Durban won the pitch to host the SETE conference at the ICC for the next three years.
Last year the conference was held in Cape Town where the steering committee was established.
Reddy said the first phase of the study would look at the year-to-year plan targeting hosting international events, and the second phase would look specifically at the Olympics.
When asked if Durban would be a shoo-in as host city, Reddy said Durban was the focus city when South Africa had intended to bid for the 2020 Olympics. He also issued a reminder that he was born in Durban.
He also said Sascoc would also focus on infrastructure - what was already in place and what still needed to be done.
Andrew Layman, chief executive officer at the Durban Chamber of Commerce and Industry, said when there was serious talk about the country making an Olympic bid, there was strong support from the chamber.
"Since the government decided not to bid, things have changed quite considerably.
"The global recession has bitten, government has committed to a huge spend on infrastructure and the national and provincial development plans do not include the Olympics.
"I'm not sure, therefore, what the chamber's formal position on this would be. I think if the South African government were to revise its position and nominate a city to be the host, we would want it to be Durban which, we believe, would be a very suitable host city," he said.
He said Durban managed large events very well and its facilities had been well positioned and were of a high standard.
"It remains to be seen what the financial advantages would be," he said. "There are reports from the UK that the Olympics didn't draw as many people as a visit to the UK at the same time in other years.
"It is pretty clear, I believe, that the yield comes only from the tourism prospects, either for the Games themselves or, importantly, afterwards once the destination has had good global publicity."
Layman said staging events of this nature involved expenditure only - the host did not make money from the gate or from sponsorship.
"It has to be seen as an investment in tourism, I think. Without knowing exactly what is required, I think Durban probably has at least the major facilities required, except for an Olympic village.
"I don't think there is any chance that Durban could make a bid without significant support from the central government. We don't have the money."
Looking at costs of hosting the world's biggest sporting event, Beijing 2008 was R334 billion. According Britain's Guardian newspaper, which conducted a poll, the British population thought the the games were "well worth" the £9bn (R115bn) pricetag, cheering the nation up as it battled recession.
The projected price tag for the 2016 Games to be hosted in Rio is R100bn.
According to the eThekwini Municipality, the 2010 World Cup cost Durban between R7bn and R8bn. Last year, DA councillor Tex Collins voiced concern over the cost of a bid that failed, saying the city would be seriously out of pocket. He also said the Games would create job opportunities and a financial benefit but said this windfall would be short term. He felt the Olympics would be a great idea but not if Durban ratepayers had to foot the bill.
Municipal spokesman, Thabo Mofokeng, said Durban would be guided by government on whether it would bid. It would also consider feasibility, he said.
It would further require financial support from national government and the province.
Mofokeng was confident Durban would have an edge over other cities because it had "the best facilities that can handle any sporting code and also has skilled people to host the best events in the country".
Last year Jochen Farber, the director of communications for the German bid for the 2018 Olympic and Paralympic Games, briefed Durban about its bid and said a lesson Durban could benefit from was "don't build what you won't use later".
Former municipal manager, Dr Michael Sutcliffe, told newspapers last year that thought had already been given on where an Olympic village would be built: the old drive-in site in Masabalala Yengwa (NMR) Avenue, which could be used for flats after the Games.
Justin de Allende, special adviser to Sports Minister Fikile Mbalula, felt Durban was definitely bid-worthy.
"The first thing one looks at is a stadium and infrastructure costs and Moses Mabhida Stadium has been designed to host international events."
Durban, he said, had the perfect climate and natural facilities. He explained that should South Africa submit a bid there would first have to be an internal bid process (among the bigger cities) and cabinet would make the final decision.
"Government would have to be on board as it is Brand South Africa that we are promoting. The focus is on 2020 for now so there is still time to decide on 2024. By 2016 we would start looking," he said.
Lihle Dlamini of the KZN Tourism Authority said the 2010 World Cup put Durban on the map and the city was still basking in the glory.
"We also hosted the International Olympic Committee last year. We've proved to the world we can be a good host."
She also said the tourism industry would benefit as many would be staying in the city for the first time.
Wayne Ridden, a South African swimming team coach at the 2012 Olympics, was also behind Durban, saying it would be just as good as London and Sydney.
"There would be lower costs in comparison to the UK as we already have most of the infrastructure. The Kings Park pool, though, would need to be upgraded. I hope Durban goes for it."
Daily News

MARGATE, HIBISCUS COAST
Kwazulu Natal, South Africa

R 650,000

http://www.thepropertycircle.co.za/property_details.aspx?property_ref=533139 PROPERTY FOR SALE IN MARGATE, HIBISCUS COAST. HOUSE FOR SALE IN MARGATE KWAZULU NATAL. This is a lovely large and spacious house situated in the popular Margate Ext 3. There are 3 Bedrooms, 2 bath. The house is situated close to amenities in Margate and has a big garden. the property is secure, and has good lighting outside. This house will be well suited for a family home. MARGATE BEACH is always alive with action. The' mile long' beach in Margate is an attraction that appeals to all. In season, Margate over a festive holiday programme with beauty pageants, musical concerts, and lots of fun for the whole family to enjoy. Margate Beach is a fundamental part of the town that surrounds it. On Margate Beach you will find an amusement park, Olympic size fresh water pool and an expanse of sand to play beach games. Change Rooms, Ablution Facilities, Lifesavers, Shark Nets, Swimming, Surfing, Fishing. Margate beach is a Blue Flag Beach.

MARGATE, HIBISCUS COAST
Kwazulu Natal, South Africa

R 670,000

http://www.thepropertycircle.co.za/property_details.aspx?property_ref=529980

PROPERTY FOR SALE IN MARGATE, HIBISCUS COAST. TOWNHOUSE FOR SALE IN MARGATE KWAZULU NATAL.  This is a lovely large and spacious corner unit. The kitchen has granite tops and lots of cupboards. There are 2 Bedrooms with build in cupboards, 2 bathrooms, a court yard, lock up automated garage with direct access to the unit.  This complex is very sought after in the Margate Area, it has in the perfect position, walking distance to the Hibiscus Mall, the Margate library, the Netcare Margate Private hospital, doctors, clinics, the gym, primary school and pre-school. It is absolutely perfect for any retired resident. The owners are selling due to the relocation. MARGATE BEACH is always alive with action.  The' mile long' beach in Margate is an attraction that appeals to all.  In season, Margate over a festive holiday programme with beauty pageants, musical concerts,  and lots of fun for the whole family to enjoy. Margate Beach is a fundamental part of the town that surrounds it. On Margate Beach you will find an amusement park, Olympic size fresh water pool and an expanse of sand to play beach games.  Change Rooms, Ablution Facilities, Lifesavers, Shark Nets, Swimming, Surfing, Fishing. Margate beach is a Blue Flag Beach.

Gert Meyer Cell: 072 456 8845 Tel: 039-317 1024 more properties from Gert more properties from this office

 MARGATE, HIBISCUS COAST
Kwazulu Natal, South Africa

R 920,000 MARGATE PROPERTY. APARTMENT / FLAT FOR SALE IN MARGATE KZN LOWER SOUTH COAST / HIBISCUS COAST SOUTH AFRICA. This 3 bedroom flat is situated on the beach in Margate. This side of Margate is very quiet yet close to the amenities. This flat has just been repainted and is very neat. The unit includes all the furniture as well as all the appliances in the kitchen. It is fully equipped for 8 people. It is an excellent price for this position! The complex has a swimming pool, tennis court as well a laudromat. The unit is a ground floor unit and has a large covered patio for you to enjoy the view. There is access control and the complex if fully secure. http://www.youtube.com/watch?v=WUUCtaqEM10&feature=player_embedded#t=0s

http://www.thepropertycircle.co.za

Finding home buying opportunities
PUBLISHED 15 AUG 2012
14 Aug 2012 With price correction following the boom period and low interest rates last seen over 39 years ago, buyers now have many investment opportunities. Adrian Goslett, chief executive officer of RE/MAX of Southern Africa, says property buyers should still be patient, selective and focus on quality.

An investor will have the benefit of a tenant assisting them with the monthly bond repayment as well as the benefit of owning an asset that is appreciating in value.

He says it may be tempting for buyers to jump at every opportunity that comes their way, however, it is important that they do not rush into any decision, but rather choose the properties that will provide them with the highest return on their investment.
Goslett cautions buyers not to assume that a property is a bargain simply because we are currently in a buyers’ market.
“Even distressed properties are listed at current market value, reminding consumers that property purchases should always be treated as a long-term investment.”
Whenever possible, property buyers should learn as much as they can about the environment they are trading in, consult various experts and make use of professional, reputable and knowledgeable estate agents to assist them in the sales process.
Goslett advises that with any property investment, location of the property as well as the type of property and amenities that surround it will have a bearing on the appreciation in the future, which will in turn affect the long-term return on investment.
He says that there are a few other aspects that buyers should consider when weighing up their investment prospects in the current market. These are:
Proximity to business and transport
Properties located close to business or transport nodes, or within walking distances of the country’s much-improved public transport networks, will become increasingly sought-after.
This will be because the congestion on South African roads continues to increase and more people move closer to their place of business to avoid time-consuming and expensive commutes.
Green features
Properties with environmentally-friendly features should also be considered as the country’s electricity costs are expected to increase at a minimum rate of 25 percent per year.

Properties located close to business or transport nodes, or within walking distances of the country’s much-improved public transport networks, will become increasingly sought-after.

These homes will cost less to run and appeal to the growing number of environmentally conscious buyers entering the market.
Statistics point to the fact that homes with green features will fetch a higher price when sold than those homes without.
Security features
South African home buyers are among the most security conscious people in the world, which is why properties within secure estates and those with state-of-the-art security systems are generally sought-after and have a greater return on investment.
This is evident in the premium paid for homes in secure estates.
Rental property
While conditions are ideal for investors with access to finance, many consumers are still struggling with bond approval and are forced to continue renting.
This has led to greater opportunity within the buy-to-let market as demand for rentals continues to gain momentum.
An investor will have the benefit of a tenant assisting them with the monthly bond repayment as well as the benefit of owning an asset that is appreciating in value.
Finding the best opportunity in the market and making a good property investment is all about selecting the right property with good prospects for future capital appreciation, adds Goslett.