Engel & Völkers news comments
Be savvy about rates on home loans
According to www.property24.com: A lower interest rate generally makes it easier for buyers to obtain a home loan. An interest rate of 8% instead of the current 9% standard rate would automatically translate into savings of more than R151 886 on a bond of R1 million, over 20 years. Money that could come in handy when paying for a child’s tertiary education.
Engel & Völkers Southern Africa says: The interest rate on a bond does influence the buyer dramatically. Money saved due to a lower interest rate can offer the buyer the opportunity to pay off his bond sooner. However, in order to qualify for a rate concession you will need to put down a large deposit.
IT skills necessary
According to www.cyberprop.co.za: Time and again leaders in the residential property marketing sector have reaffirmed the fact that it is the willingness to adopt 21st Century Information Technology that is now separating the winning estate agencies from the rest. More and more estate agents are gravitating towards the companies that can provide sophisticated IT systems and training that will take them forward in the use of this type of technology.
Engel & Völkers Southern Africa says: Engel & Völkers are market-leaders when it comes to IT systems. We boast with some of the most advanced IT systems in the industry, and combined with our training academy that is of an international standard, we ensure that our specialists are fully equipped to make use of the latest IT methods in the marketing of properties.
Warren Buffett’s thoughts on rental homes in recent months
According to www.iolproperty.co.za: Warren Buffett, CEO of Berkshire Hathaway and arguably the world’s top investment brain, has repeatedly said that private investors should now be buying up as many single family homes to rent out as they can afford.
Engel & Völkers Southern Africa says: For investors to buy property to rent does carry its advantages. Buyers would always be better to buy then to rent, even if you pay a little bit more each month. Buying is an investment whereas renting is an expense, and sometimes an unnecessary one.
Location, condition and price are all potential factors
According to www.moneyweb.co.za: The South African property market today is a far cry from its 2007/8 heyday. Prices have come down significantly, homes are often on the market for longer, and buyers are far pickier due to the increased selection they have to choose from. The bank’s Property Barometer continues to indicate that the 1st quarter of 2012 saw an acceleration in house price growth in almost all segments of the market when segmented by room number and title deed.
Engel & Völkers Southern Africa says: Even though the property market is ever improving, there are still properties that are not selling. Property in excellent locations and in great condition will always sell easier than those that are not. Location is a great factor for home buyers as people are always looking to move closer to their place of work and not further away.