SA Property - South Africa's Number 1 Real Estate BLOG

Is property a good investment in the East Rand?

noreply@blogger.com (Unknown) — Mon, 20 Apr 2015 10:31:00 +0200

So the question often asked is “Is buying property in the East Rand a good investment?”

the answer is simply, “I don’t know. Are you a good property investor?”

I personally LOVE investing in property for myself or buy to let.

Especially near OR Tambo in the East Rand or buying property in Boksburg!

Where else in the world do you have the banks standing in a queue and begging you to lend you money?

What other investment in the world can offer you such an awesome tax deal, write offs, income earner - you name it?

But please remember, that eager bankers and attractive tax opportunities do not make property a great investment if you personally cannot manage the process or are simply not adept or in love with property itself.

There are many great property deals and investments ruined by bad investors.

So yes, property is a great investment…if you are a great investor. (Robert Kiyosaki)

What is required is not only skill, but self-awareness of your own shortcomings. You must be brave enough to know when you're not a good fit for a certain type of investing.

email me

Loerie Park 2 bedrooms in Anzac, Brakpan

noreply@blogger.com (Unknown) — Mon, 13 Apr 2015 11:23:00 +0200

http://loeriepark.globalfundi.com/investment/
100% Mortgages at Loerie Park, Anzac, Brakpan - near schools, Green belt of Royal Oak golf course, great bird life,

Secure and subsidy of up to R 87,000 to those qualifying - Purchase price from R 378,000 to R 478,000 and we are running out of units.

CALL US TODAY!

FNB and Building Loans 2014

noreply@blogger.com (Unknown) — Wed, 17 Sep 2014 12:43:00 +0200

So in the past if you had a building loan of 100% and you paid your deposit of 10% upfront you could get your 10% back when completed but now FNB has changed their mind. Or so it seems for now.

Is this because they expect an interest rate hike or is this due to results on their loan book thats not that great and they need to show better results - we will wait and see.

In the past customers were granted a a full Building Loan of 100% by FNB and were required to pay a 10%
deposit upfront even though they had the bond, which would be possible to get paid back upon completion of the building with some FNB based rules attached - well, this offering was known to some as the “Building Loans cash back” offering. Nice deal!

But that is gone folks.

The cash back offering on Building Loans which allowed qualifying customers to redeem their 10% deposit upon final completion of the building, will be withdrawn by FNB as from 1 October 2014.

So, the FNB rule for Building loans and their Loan Policy will only cater for building loans as follows:

Up to 90% LTV for property values up to R 3, 000, 000.00

and 85% LTV for property values exceeding R 3, 000, 000.00

But get your mortgage originator to check for you

Be interesting see what Standard bank, ABSA and Nedbank do next.

Investors and The Elections - What next?

noreply@blogger.com (Unknown) — Tue, 13 May 2014 11:00:00 +0200

I do think that investors need to be aware that there are some other issues that are playing out that will give us some direction in the future. Thanks to David te Brake from Pioneer for the input.

The Platinum belt strike is becoming a very meaningful stand-off between the Unions and Business.

The Rand / Dollar exchange rate is being affected by some of SA’s weak economic data. Some of the key issues are the current account deficit, the budget deficit, possible lower tax collections, the financing of both these deficits, high unemployment, low job creation, inflation, rising interest rate and the lack of priority for infrastructure spending, as opposed to wage and grant increases. These issues play a much greater role in your investments than the noise around the election.
The markets have continued to perform reasonably well this year; and people keep questioning this. The sad reality is that the rand looks to be on a declining trajectory, and this weaknesses has continued to help push our markets up. This is because a lot of local businesses in South Africa have got operations outside of South Africa and those profits help the markets a lot.

The three year decline of the Rand against major currencies is a serious concern; however there is nothing meaningful that is being done to stop further declines.

The only thing that may reverse this trend in the short term is a massive increase in resource prices (gold & platinum) and to be effective, that increase would have occur and be in conjunction with a speedy resolution of the mining sector strikes. It is no good if the prices rise and our mines are all closed.

We seem to be hoping for larger and larger miracles without addressing core economic issues, and sadly none of the political parties that I have observed have really come forward with proper plans to reverse this trend. They are all shouting out the same cliches in their promises – they’ll all create jobs, they all promise to stop corruption, they all promise to improve infrastructure, etc.

I think it is prudent for investors to possibly be looking to increase their offshore exposure in the future to hedge against this currency decline so getting the best out of money transfers from South Africa is key.

NEW DEVELOPMENT ANZAC BRAKPAN 100% Homeloans

noreply@blogger.com (Unknown) — Tue, 15 Apr 2014 11:46:00 +0200

NEW DEVELOPMENT ANZAC BRAKPAN 100% Homeloans

Your Chance To Become a Home Owner!
New development Loerie Park in Anzac ext 2 Brakpan. Loerie Park is situated on Loerie Road. Close to Anzac Primary school. 500 meters. Across from the Golf course, and close to shopping centres, and all main roads.

The complex will have 50 apartments when completed:
* 6 Apartments with 2 bedrooms, 2 bathrooms, open plan living area, modern kitchen and stove, large balcony with sliding door and private stoep. Priced at R478 000. 62sqm.
* 44 Apartments with 2 bedrooms, 1 bathroom, open plan living area with modern kitchen and stove. 52 sqm. Priced at R378 000. first floor. R398 000 ground floor.
* All apartments are fully tiled, with modern finishes and built in BIC. Spacious!
* All apartments have pre-paid electricity meters.

* No Transfer duty.

* Investors welcome! Rental income of R4000.

Lizette Vilonel lizette@goldenhomes.co.za

071 455 3674

10 Reasons why budget speech will matter in 2014

noreply@blogger.com (Unknown) — Wed, 26 Feb 2014 09:59:00 +0200

Forget about staying in bed, Pravin Gordhans’ 2014 budget speech today is

Min Pravin Gordhan

bound to get your blood up one way or the other. I feel it is all about managing the budget deficit and spending on social needs and ensuring standard economic growth.

Why does the budget speech for 2014 matter?

1. We need to make sure we balance social spending versus making sure we grow economically. A big balancing act from Pravin Gordhan.

2. It is the 5th democratic election year since 1994. Listen to the 2014 budget speech and then also listen for budget allocations and any changes on taxes.

3. Listen if the budget speech will contain steps to cut state spending and lower taxes. A high hope.

4. Will this force Unions to stage more protests for job creation – will the growth be part of the speech?

5. Will the budget speech support job creation as a whole and stimulate economy.

6. Can we expect sin taxes to go up on tobacco and alcohol?

7. If the budget is not managed expect a broader tax creep such as addition tax types.

8. There is almost certainly going to be an increase in the fuel levy tax – this is keeping fingers crossed time.

9. Being an election – someone is going to get a windfall to boost election votes- watch this space. I will apologize if wrong!

10. 2013 has been financially tough on all South Africans – will there be good news in the wings!

We will publish the full budget speech 2014 by Minister

The Roman's Pizza CEO Challenge - a property switch

noreply@blogger.com (Unknown) — Wed, 5 Feb 2014 16:00:00 +0200

Are you a South African Living overseas and you want a home loan in South Africa?

noreply@blogger.com (Unknown) — Mon, 2 Dec 2013 15:08:00 +0200

The first thing you must know is that depending on the bank your home loan will be between 50% and 70%

and under the right circumstances you could get up to a 100%, but the truth is the chances are very small of this happening.

You will need to get a copy of your work contract, work permit and make sure the contract is signed.

You will need up to six (6) Months payslips and make sure you fill in an income and expenses form in both the currency you earn in and in SA Rands and sign both.

Make sure you have copies of your passport and SA ID and if married send a marriage certificate. Internet bank statements will work and ideally you should be sending some money home to a bank in South Africa, this would be the same bank account that will service your home loan.

What would go against your application - not meaning that you will not get the loan, but it will make it more difficult.

1. Self employed
2. Pure commission earners
3. Lack of documents
4. Contract worker
5. Over exposure

But it is all possible and I recommend sue your mortgage originator to all the ground work for you.

FINANCE AVAILABLE

noreply@blogger.com (Unknown) — Wed, 17 Jul 2013 15:26:00 +0200

WE Finance your home. Just fill in the form on the right and we will call you. With pleasure.

100% homeloans
Affordability loans
You name it we will get it.

We do mortgages and home loans in:
Hoedspruit - such a place to live in Hoedspruit
Polokwane
Tzaneen
Potchefstroom
Somerset West
Franschoek
Phalaborwa
Sishen

Buy to let - great property deal in the bush

noreply@blogger.com (Unknown) — Wed, 3 Jul 2013 11:20:00 +0200

Found this excellent Studio - bachelor pad in Hoedspruit - has a tenant presently and in an awesome environment. Raptors Wildlife Escape - The Kruger National Park is situated only an hours' drive away. The townhouse development is situated close to Eastgate airport with daily scheduled flights to Johannesburg. Hoedspruit is only 45 minutes from the Orpen Gate of the Kruger National Park.

View 32 Raptors Wildlife Escape in a larger map

A fantastic investment this double story, 181sq m lofted looking over the magnificent raptors view wildlife estate is a steel at R 570,000.00 directly from the owners. They will also get you a 100% mortgage as part of the deal.

Contact ownershomeloans@globalfundi.com

FNB - and buy to let news

noreply@blogger.com (Unknown) — Mon, 1 Jul 2013 15:47:00 +0200

So is buy-to-let the new way to go.

The on-going saga and lack of capital growth in the residential property market has made investment
in residential real estate so unattractive compared to the earlier part of the last years when house price growth were at much higher levels. Yields are also driven down by financially strained tenants and rising costs of maintenance, petrol, home goods etc, further stacking up an argument against investing in residential property unless you have a big daddy.

However, as more young South Africans require housing, there is a constant growth of demand for rental houses and flats. Ownership is not always possible or feasible and for some there will always be strong arguments in favor of renting instead of buying. This is aggravated further by challenges that banks face in granting credit - you better stay squeeky clean. These poor folk often have no other choice but to enter the rental market.

Should the SA reserve bank’s repo rate, and in turn the bank lending rates rise, the argument quickly tips in favor of renting rather than buying and is expected to further increase the demand for rental properties in the short term.

This rising demand for rental properties and slow growth in supply is expected to ultimately drive up yields to a point where buy-to-let property becomes a much more attractive investment. Once this excess demand pushes prices upward, investors will start earning higher returns. High returns will in turn attract more investors to participate in the rental market, buying up a larger portion of stock.

Risks of financing buy-to-let properties are not expected to change, but banks will continue to support this market with responsible lending to enable a much larger buy-to-let market tosupport the growing demand for housing in South Africa.

Buy-to-let ask your mortgage originator today.

ABSA June Residential Building Statistics June2013

noreply@blogger.com (Unknown) — Fri, 28 Jun 2013 09:24:00 +0200

Thank you Jacques du Toit from ABSA Home Loans for this great insight.

Residential building activity improving compared to a year ago
Residential building activity, i.e. the number and value of housing units for which building plans were approved and the number and value of housing units completed in the South
African market, improved further in April 2013. This is consistent with a continued improvement in the Bureau for Economic Research’s building confidence index in the
second quarter of 2013, which rose to its highest level since the fourth quarter of 2008.

The real value of plans approved for new residential buildings was up by 21,2% year-onyear
(y/y), or R1,74 billion, to R9,95 billion in the first four months of 2013 from R8,21
billion a year ago. The real value of residential buildings reported as completed was up by
12,6% y/y, or R808,15 million, to R7,2 billion in the period January to April from R6,39
billion in the corresponding period last year. These real values of residential building
activity are calculated at constant 2010 prices.

The number of building plans approved for new housing recorded growth of 43,5% y/y in
April, largely driven by the segment for flats and townhouses. This strong growth in April
contributed to growth of 14,7% y/y in plans approved in the first four months of the year.
The construction phase of new housing saw growth of 16,4% y/y in the first four months of
the year, influenced by growth of 35,1% y/y in the month of April. The segments of small
and larger-sized houses were mainly responsible for the strong growth in April.
Residential building activity will continue to reflect conditions with regard to the economy,
household finances, consumer confidence and factors impacting the market for new and
existing housing.

Love the Kruger Park to visit but prefer a home on the outskirts to live.

noreply@blogger.com (Unknown) — Tue, 25 Jun 2013 15:40:00 +0200

If you are like me, I love to visit the Kruger Park, spend a day on the outside, play some golf and then go back in for the day. I first visited Raptor’s about 10 years ago and the view offered secure living in a well-maintained wildlife estate, situated on some of the finest bushveld that South Africa has to offer. Game abundant, lots of things to do, great restaurants in town and there are some great houses to buy in this place and the prices are excellent.

Not only is Raptor’s View a fantastic investment but it also offers plenty privacy and a school if needed, an airport nearby and traversing rights on the Blue Canyon conservancy.

If its family and friend entertainment you love, this place is for you. I went to look at a few places in the area and looked for a bargain (as we all do) and found a place that was just up my street - perfect for the great entertainer (ha my wife, not me), this house was situated on the banks of the riverbed with a full view onto the Drakensburg Mountains and some huge leadwood trees, great pool and braai area

So these great estate agents in Hoedspruit gave me what I want, but being overexposed at the banks I could not come up with the mortgage - drats and have had to let it go

My lesson - see if you can afford a place in the bush in advance with a mortgage originator such as Wizard Midrand.

Get the best estate agent in Hoedspruit to work for you

be patient! Your bushveld property is waiting for you - and so is mine!

What is it that bond originators do and why not go the D.I.Y route?

noreply@blogger.com (Unknown) — Thu, 20 Jun 2013 09:59:00 +0200

What is it that bond originators do and why not go the D.I.Y route?

such a great question and you will always get your pros and cons depending on whom you are speaking to.

We do know that bond originators often shop around and are kind of impervious to which bank you are looking at but finding someone that is great is not always easy. So do you get references? I would.

Bond originators assist you by negotiating with all the major lenders on your behalf, thus taking the fear out of applying for a bond and even work with SA Homeloans, BMW finance and Investec not just Standard, ABSA, FNB and Nedbank.

The service of a bond originator is free to you, the applicant – this is because bond originators get paid by the banks.

This means less leg-work for you and a lot less admin for you, the client.

Even where the home-buyer has a really good, strong relationship with their own bank, bond originators allow for room to shop around for the best deals and to look around at all the other banks simultaneously, getting you the best deal there is.

Every now and again some banks seem to get into a tiff with the originating groups and then for a while no longer allow bond originators to act on their behalf, therefore it is advisable to first ask the originator who they represent and the good ones will make a plan regardless.

FNB Home Loan requirements for Non-Resident application to purchase property in South Africa

noreply@blogger.com (Steven Green) — Tue, 11 Jun 2013 08:45:00 +0200

If one or more of the applicants are Foreign National or Non-residents, the application will be treated as a

Foreign Choice application.

Non-Residents:

A Non-Resident is a person who is not a South African and who is living and working abroad.

Requirements:

Valid Passport, i.e. with a future expiry date
50% of purchase price has to be introduced from abroad. These funds should be paid by the applicant to the registering attorneys and proof of this deposit is required for the Excon application
Excon approval will be required before the loan can be finally approved
Excon application fee of R1140 payable by applicant

Foreign Nationals:
A Foreign National is a person who is not a South African and lives and works in South Africa on a temporary basis.

Requirements:

Valid Passport, i.e. with a future expiry date
50% deposit and proof of the source of these funds must be provided to the registering attorneys
Valid temporary residence permit, i.e. with a future expiry date. Please note that application for a new temporary residence can be conducted 3 months prior to expiry. An expired temporary residence permit will delay registration
Employer’s letter confirming employment in South Africa
A Foreign National Declaration signed at the bond registration attorneys
An active primary cheque account with FNB for at least 6 months

Foreign National and Non-resident exclusions:

Lesotho, Swaziland, Namibia and South Africa are part of a Common Monetary Area and therefore, applicants from Lesotho, Swaziland & Namibia will be treated as South African applicants;

Juristic entities excluded
Additional properties excluded. Foreign Choice is only available on a NEW property, and only one property may be registered with the bank
Switches from another financial institution excluded

Foreign National and Non-resident access to funds:

Non-Residents & Foreign Nationals are not allowed to access funds from the home loan after the initial payout is made on registration of the bond. This includes Flexi Option, Future Use, Prepaid, Readvance and Further Loan.

If you need further assistance, please fill in the online form here - http://www.wizardmidrand.com/home-loans/bond-application-form.html

Common Debt Pitfalls - get a home loan!

noreply@blogger.com (Unknown) — Wed, 5 Jun 2013 11:42:00 +0200

Here is a list of the most common debt pitfalls that South Africans tend to make – avoid these and turn your

credit record around, and before you know it you will be able to approach a home loans advisor to assist in applying for that bond to buy your dream home. Thank you Wizard Midrand for this article.

Here’s a list of the eight most common financial errors made by South Africans which you should avoid at all costs:

· Consumers automatically take for granted that interest rates will not go up when they buy a property – this is when they make the mistake by buying a property above their means.

· Males in South Africa often go to micro lenders to finance their “lobola” which means that traditional weddings often start off on a bad financial note.

· Having a home repossessed is perhaps one of the most debilitating things that can happen to anyone, and often people are too afraid of what the Jones’s will say; this leads to many home owners dragging their feet to move to a smaller more modest abode.

· The home that is affordable is usually replaced by a rental option that is just as upscale and as expensive – all this to save face!

· Using a balloon payment option to finance an expensive car is insanity, but it is done more often than not. The sad reality is that many of these individuals driving around with their expensive “balloon financed” vehicles cannot even afford to replace their tyres; these cars are then traded in at a loss and in the end the car owner loses a substantial sum of money.

· Money is a taboo topic in many relationships which is only discussed once funds have run dry - it is a fact that many marriages break down to a lack of communication, especially when it comes to money.

· If you owe creditors money, random debt payment is not the way to go forward – rather put together a solid repayment plan and stick to it at all costs.

· The creditor who shouts the loudest usually gets paid first – remember to stick to your plan to ensure you become debt free in the near future. And for heavens sake get a free credit report.

Don’t guess what you owe in total – work out a plan, stick to it and work out what you owe your creditors in total. This way forward will ensure that your credit record is corrected over time, making you bond ready when applying for home loans.

Ten easy Steps to Live within Your Means to Get a Home loan and Bond Approval

noreply@blogger.com (Unknown) — Thu, 30 May 2013 12:02:00 +0200

A great bit of advice from one of the top bond originators.

Applying for a bond in today’s world is quite a challenge, as is the case with all credit. A little bit of preparation prior to applying will ensure you are bond ready, plus you will learn how to live within your means.

Bond requirements are getting tougher, therefore it will do little harm to call on the services of home loans advisors, as they will be able to offer some really pertinent advice and they are experienced professionals who really know exactly what the banks are looking for when applying for a home loan.

Here are ten steps that will teach you to live within your means – bear in mind that living a debt-free life will lead to getting the bond you need to buy your dream home:

· Thanks Wizard Midrand for this advice and original article/

Teach yourself to live within your means prior to applying for a bond, then approach a bond originator to assist in accomplishing that dream.

Just can't get the banks to give me a home loan

noreply@blogger.com (Steven Green) — Fri, 26 Apr 2013 11:30:00 +0200

If you are battling to get a bank to give you a home loan, there is a definite formula to get past this; building up a good credit record is of course the first step in the right direction.

First things first - you will need to build up a good credit record. Many of us are freelancers or work for ourselves – and this is often a huge obstacle if you need to get credit, whether for a home loan or credit for other uses and needs.

Financial institutions want to be certain that you will be in a position to pay your home loan without any problems or difficulties. This is the reason why they scrutinize all your finances really closely and also examine and analyse your income and expenses by using an average on your earnings over a six month period to determine whether you will or will not be able to afford the monthly installments.

If you earn commissions, are a freelancer and your monthly earnings fluctuate, banks will adjust the average earnings down to cater for these ups and downs and will give consumers a fair opportunity to meet the loan agreement.

Banks and lenders always choose the more conservative approach to ensure that applicants will be able to cater for fat months as well as lean months.

If you are thinking of applying for a home loan chances are that the financial institution you approach will go as far back as two years into your credit history. This is to find out whether you are a good payer and up to speed on all your credit agreements. This information is then used to calculate their risk in lending you the money – but there is nothing that formally states that borrowers need to have a credit history to qualify for a home loan.

A problem will aris is if you have no credit anywhere and you have an income that fluctuates due to the fact that you are a commission or freelance worker; you will then have issues trying to get that essential home loan.

Wizard Midrand is here to assist and to guide individuals no matter how they earn their bread and butter – let us take your home loan to the next level; our professional team will do all the leg-work on your behalf, bringing you closer to owning that dream home you always longed for.

Standard bank and 100% Homeloans

noreply@blogger.com (Unknown) — Thu, 11 Apr 2013 08:06:00 +0200

It has been quite some time since the banks have offered 100% loans unless you were a client

of theirs and the good news is there seems to be a swing in the opposite direction.

Is this because the mood and sentiment is at a low ebb and clients are moving away from there traditional banks for other savings havens?

Never sure, but the decision by Standard bank to offer 100% home loans to non- standard bank clients in April 2013 is a definite positive swing.

so what do banks offer in general:

Firstly, this changes often so call your broker or call your mortgage originator first,

But as it stands: Remember other conditions always apply.

Standard Bank 100% home loans to all
FNB - will consider 100% home loan to all but favour their own clients
ABSA - will consider 100% home loans to all, but favour there own clients
Nedbank - Only for Nedbank clients
Investec - for Investec clients or meeting strict criteria
SA Home Loans - will consider but more like a 90% loan

Other kinds of offers in general are - These can change

- Investment property usually max. 75%

- Self employed clients usually max. 85%

- Foreign applicants with no green ID books max. 50%

- Foreign applicant married to South African max. 50 -75% (South African must be higher income earner)

- Vacant Land 60%

FNB property barometer some interesting news

noreply@blogger.com (Unknown) — Thu, 28 Mar 2013 12:06:00 +0200

Square metres of residential building plans passed vs completions

Preparation is Key to Getting a Loan

noreply@blogger.com (Steven Green) — Fri, 22 Mar 2013 10:55:00 +0200

It is definitely a myth that there is no funding available for entrepreneurs, as there is without question more funding than ever before available to entrepreneurs in South Africa. If you are in the market for a personal loan or need a loan to get your business off the ground and have not being successful in securing a loan is often the main reason why entrepreneurs often put off going it alone or individuals simply give up on trying to secure a home loan, personal loan or other much-needed finance.

Take note that not all businesses suit all financiers. Many entrepreneurs will soon become frustrated trying to access funding because they are not being successful. Many successful business owners will admit that they asked numerous funders before getting the finance they were looking for. This is usually due to a number of factors ranging from being unsuitable to not having all their ducks in a row.

Entrepreneurs usually learn from trial and error and adjust the sales pitch to the lender. One way to increase your chances of getting financing is setting up a pre-pitch meeting with the lender. You need to find out exactly what it is that they are looking for and what you as an entrepreneur can tweak and change to increase your chances of getting funding.

There are usually areas that you have not even thought about and you would not have been in a position to answer certain questions in an interview. Preparation is all-important when asking for any type of loan.

Funding is usually the bugbear of most entrepreneurs and the general consensus is that there is no funding – but this is simply not the case at all.

You can always bootstrap your business – did you know that many of the most successful businesses globally were launched on a wing and a prayer and no outside funding whatsoever? Alternatively find the right funding medium that suits your business but ensure that you get everything ship-shape prior to pitching to your funders.

If you are in the market for a personal loan, a loan for your business or a home loan, it is always wise to prepare well prior to giving your pitch.

FNB Home Loans Update - From Head Office

noreply@blogger.com (Steven Green) — Tue, 19 Mar 2013 08:40:00 +0200

FNB Housing Finance is excited to announce that we have now officially joined Home Loans and
other banks in rolling out Interbank Document and Data eXchange (IDX) for our customers.

IDX is an interface which allows bank agents (within FNB) to request bank statements from all
other banks using a specified criterion. The purpose of this crossing point is to eliminate the
lengthy and unpleasant process of having to ask and wait for customers to bring their monthly
statements from banks which they hold their personal active account/s in order for their “loan”
requirements to be considered. Furthermore, this also allows the affected bank to be privy to
information which the customer might withhold/omit that could prove to be troublesome at a later
stage.

For now, customers are allowed to opt not to partake in this roll out but it will be mandatory at a later
stage. We request that you utilise the existing (applied by other banks) form for all FNB Housing
Finance customers who would like to involve themselves in this roll out.

Thank you for your continued support.

There is no problem with Hoedspruit - 100% home loans available.

noreply@blogger.com (Unknown) — Thu, 29 Nov 2012 16:17:00 +0200

There is no problem with the estates in Hoedspruit.

Obtaining finance and a home loan even a 100% home loan is possible.

Why there are so many properties available, especially vacant stands is because when there was the property boom about 5 years ago, developers climbed on the band wagon and started developing all these estates. Some were great and some not.

As you know Hoedspruit is a small town so without the outside and overseas buyers, who became fewer and far between, when the market dropped, these properties could not be sold. But it seems to be changing.

Over the past year the market has gradually recovered and we have seen more movement as far as property changing hands is concerned and Hoedspruit seems to have become the destination of choice and International home loans, mortgages and banking has been a normal occurrence once again.

Hoedspruit is a lovely little town with a friendly and caring community that attracts one time visitors to become residents. So looking for finance contact your favourite financial wizard.

So managing your home loan and prioritise your debt

noreply@blogger.com (Unknown) — Mon, 26 Nov 2012 14:37:00 +0200

Pretoria: South African homeowners are trying to do a better job of keeping up with their bond payments and we think this is being helped by a perception of an improving housing market and of course the constant low interest rates that are making it easier to refinance and also that loans are getting a bit easier to get.

The percentage of bond holders at least two to three months behind on their payments fell in the third quarter to 5.41 per cent, the lowest point in more than three years, credit reporting agency TransUnion in the USA stated and we in SA seem to be leaning that way as well. I look forward to Loos report and Rode reports at year end.

In the USA, the mortgage delinquency rate has not been this low since the first quarter of 2009. Still, it remains well above the 1 per cent to 2 per cent average historical range, an indication that many homeowners still are struggling to make their payments.

But, here back home in SA, the question is: have your finances turned the corner? Well, many homeowners changed the way they prioritize their financial setup after the value of their homes crashed with the world housing crash. I wonder if this has changed yet? I think not.

We know that people used to pay their bond first, and now they pay their cars and their credit cards and then accounts before their home loan.

Even so, some owners are benefiting from the gradual turnaround in housing this year as we see prices stabilise, interests rates remaining low and generally a better feel out there.

US home prices jumped 5 per cent in September compared with a year ago, the largest year-over-year increase since July 2006, according to data provider CoreLogic.

Generally speaking, higher prices help bring down the number of homeowners who owe more on their bonds than their homes are worth, potentially making it easier for them to lower their monthly payments by refinancing.

And interest rates remain near record lows, making it possible for more homeowners to qualify for refinancing and normal financing. The average rate on a 20-year mortgage was 8.5 per cent land has remained below 9% all year. Awesome.

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noreply@blogger.com (Unknown) — Wed, 24 Oct 2012 12:05:00 +0200

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