MAYBE
Maybe. . we were supposed to meet the wrong people before meeting the right one so that, when we finally meet the right person, we will know how to be grateful for that gift.
Maybe . . . when the door of happiness closes, another opens; but, often times, we look so long at the closed door that we don't even see the new one which has been opened for us.
Maybe . . . it is true that we don't know what we have until we lose it, but it is also true that we don't know what we have been missing until it arrives.
Maybe . . . the happiest of people don't necessarily have the best of everything; they just make the most of everything that comes along their way.
Maybe . . . the brightest future will always be based on a forgotten past; after all, you can't go on successfully in life until you let go of your past mistakes, failures and heartaches.
Maybe . . . you should dream what you want to dream; go where you want to go, be what you want to be, because you have only one life and one chance to do all the things you dream of, and want to do.
Maybe . . . there are moments in life when you miss someone -- a parent, a spouse, a friend, a child -- so much that you just want to pick them from your dreams and hug them for real, so that once they are around you appreciate them more.
Maybe . . . the best kind of friend is the kind you can sit on a porch and swing with, never say a word, and then walk away feeling like it was the best conversation you've ever had.
Maybe . . you should always try to put yourself in others' shoes. If you feel that something could hurt you, it probably will hurt the other person, too.
Maybe . . you should do something nice for someone every single day, even if it is simply to leave them alone.
Maybe . . giving someone all your love is never an assurance that they will love you back. Don't expect love in return; just wait for it to grow in their heart; but, if it doesn't, be content that it grew in yours.
Maybe . . . happiness waits for all those who cry, all those who hurt, all those who have searched, and all those who have tried, for only they can appreciate the importance of all the people who have touched their lives.
Maybe . . . you shouldn't go for looks; they can deceive; don't go for wealth; even that fades away. Go for someone who makes you smile, because it takes only a smile to make a dark day seem bright. Find the one that makes your heart smile.
Maybe . . you should hope for enough happiness to make you sweet, enough trials to make you strong, enough sorrow to keep you human, and enough hope to make you happy
Maybe . . . you should try to live your life to the fullest because when you were born, you were crying and everyone around you was smiling but when you die, you can be the one who is smiling and everyone around you crying.
Maybe. . . you could send this message to those people who mean something to you, to those who have touched your life, to those who can and do make you smile when you really need it, to those who make you see the brighter side of things when you are really down, and to all those whom you want to know that you appreciate them and their friendship.
And if you don't, don't worry; nothing bad will happen to you. You will just miss out on the opportunity to perhaps brighten someone's day
__________________
Phil Cooper
Phil Cooper Insurance Brokers (Pty) Limited
Phone: 011 702 1328
Tuesday, May 27, 2008
ABSA speaks about buying property in the current economic cycle
Opportunities for investors if you are patient in terms of your expected capital returns
“Consumers need to be prudent when buying residential property in the current economic cycle,“ says Gavin Opperman, Group Executive: Secured Lending, Absa Retail Bank.
As affordability remains under pressure due to factors such as rising interest rates, consumers may need to consider buying smaller, less expensive homes to ensure their affordability in the medium to long term.
Nominal property price growth is expected to slow down further to between 5% and 6% this year and just below 4% in 2009.
Additionally, interest rates are expected to increase by another 50 bps in June with a risk of further hikes in the short term.
With this in mind, consumers will be wise to carefully assess their disposable income and make prudent decisions when selecting which properties they buy in this current cycle.
Opperman explains: “Residential property should always be seen as a medium to long term investment, especially in the current cycle, and therefore, consumers need to be aware that real returns will only be realised in time.
"Also, when accessing affordability, rather buy for less and put down a deposit to mitigate the risks of the current cycle.”
In response to current market conditions, Absa Home Loans has adjusted its credit lending policy, requiring customers to pay a deposit when purchasing a new home.
Opperman explains the motivation behind this decision: ”When looking at the picture holistically, we need to encourage South Africans to avoid the risk of being over-indebted.
"Working towards saving a deposit for a home instils a good discipline and fosters a savings culture. Chances are also that consumers will buy a home closer to what they can realistically afford when planning their purchase including a deposit.”
Opperman continues: “The lending landscape has changed with the implementation of the National Credit Act in 2007 being a significant driver in managing banks and consumers lending and borrowing behaviour.
"While this had a positive impact on all concerned, one simply must factor in the down cycle when making responsible lending decisions and motivating consumers to make wise financial choices.
"By including a deposit requirement, we ensure our customers take a very close look at what they can realistically afford.”
In spite of the current conditions, there are various options available to consumers. For first home owners, buying down as a way to get started is advised.
Alternatively, rent initially until such time that you are sure you can afford a home. For those already in the market but needing a bigger home, we recommend rather doing alterations to your existing home than selling to buy bigger. Opperman says:” The current cycle brings with it some opportunities for investors if you are patient in terms of your expected capital returns. Rental yields are to pick up further from current levels which may further boost your income.
And for those consumers feeling the pinch, contact your bank to make suitable arrangements.
Those arrangements may include considering a fixed interest rate as a way of managing your cash flow and mitigating the risk of further interest rate increases or extending the loan term from 20 to 30 years.
From www.itinews.co.za Editor Andree Laubscher
“Consumers need to be prudent when buying residential property in the current economic cycle,“ says Gavin Opperman, Group Executive: Secured Lending, Absa Retail Bank.
As affordability remains under pressure due to factors such as rising interest rates, consumers may need to consider buying smaller, less expensive homes to ensure their affordability in the medium to long term.
Nominal property price growth is expected to slow down further to between 5% and 6% this year and just below 4% in 2009.
Additionally, interest rates are expected to increase by another 50 bps in June with a risk of further hikes in the short term.
With this in mind, consumers will be wise to carefully assess their disposable income and make prudent decisions when selecting which properties they buy in this current cycle.
Opperman explains: “Residential property should always be seen as a medium to long term investment, especially in the current cycle, and therefore, consumers need to be aware that real returns will only be realised in time.
"Also, when accessing affordability, rather buy for less and put down a deposit to mitigate the risks of the current cycle.”
In response to current market conditions, Absa Home Loans has adjusted its credit lending policy, requiring customers to pay a deposit when purchasing a new home.
Opperman explains the motivation behind this decision: ”When looking at the picture holistically, we need to encourage South Africans to avoid the risk of being over-indebted.
"Working towards saving a deposit for a home instils a good discipline and fosters a savings culture. Chances are also that consumers will buy a home closer to what they can realistically afford when planning their purchase including a deposit.”
Opperman continues: “The lending landscape has changed with the implementation of the National Credit Act in 2007 being a significant driver in managing banks and consumers lending and borrowing behaviour.
"While this had a positive impact on all concerned, one simply must factor in the down cycle when making responsible lending decisions and motivating consumers to make wise financial choices.
"By including a deposit requirement, we ensure our customers take a very close look at what they can realistically afford.”
In spite of the current conditions, there are various options available to consumers. For first home owners, buying down as a way to get started is advised.
Alternatively, rent initially until such time that you are sure you can afford a home. For those already in the market but needing a bigger home, we recommend rather doing alterations to your existing home than selling to buy bigger. Opperman says:” The current cycle brings with it some opportunities for investors if you are patient in terms of your expected capital returns. Rental yields are to pick up further from current levels which may further boost your income.
And for those consumers feeling the pinch, contact your bank to make suitable arrangements.
Those arrangements may include considering a fixed interest rate as a way of managing your cash flow and mitigating the risk of further interest rate increases or extending the loan term from 20 to 30 years.
From www.itinews.co.za Editor Andree Laubscher
Friday, May 23, 2008
How to hang on to your home
Consult your financial institution if you’re not finding it difficult to meet your bond repayments. Banks should consider all possible options to help homeowners through these difficult times. Discuss alternative arrangements with all your creditors timeously.
Consider increasing your loan term to 30 years if you can’t afford your bond repayments. It will reduce the repayments but push up the total price considerably.
If you’re able to, use your bond to consolidate your debts at a lower interest rate rather than paying off possibly more expensive car loans and interest on credit cards.
You can also take out a bond on another paid-up property to honor bond commitments in the short term, Swart suggests.
Draw up to 90 per cent of life policy’s investment value to supplement your cash flow for six or more months. If you have life cover for one million rand for instance and already have R100 000 in the policy investment account you can draw up to0 R90 000, Swart says. You can continue the policy; the insurer will reduce your cover to R910 000.
Stop annuity payments for a while and reduce investment payments where possible. You can stop annuity contributions for months or even years; your investment will simply grow at a slower rate until you start contributing again. You can similarly stop or reduce your unit trust payments.
“Use extra capital such as a bonus to reduce your bond,” Du Toit says. But if you have two or three bonds you’re struggling to pay it’s possibly better to put that extra cash in the bank account so you can meet your obligations in the coming months, Swart says. There’s no point in paying off R300 extra a month on one bond and being unable to pay your other debts.
Families should live within their means and budget carefully. “Leave your credit card at home,” Swart says. “All family members have to look where they can cut down on spending. For instance, sell one car and buy something cheap and economical when it comes to maintenance and fuel consumption”. In other words, forget about luxuries. For instance, stop your gym membership and rather go for a run or swim. Stop having drinks and snacks before supper and watch your energy consumption. “Make a list of the family’s non essential spending habits. They could amount to a bond repayment you couldn’t afford”.
If you’re facing sequestration you could contact the National Credit Regulator (ncr.org.za) to arrange payment of your debts with the help of a mediator. If you have received a lawyer’s letter of demand from your bank you can still reverse the repossession by contacting the bank and agreeing to reschedule the loan. Also speak to your bank if you think you may be forced to sell your house. Rather sell the house privately for a better price. Your bank should give you more time to do this if you can still pay off the interest on your bond.
- From Huisgenoot 22 May 2008
Consider increasing your loan term to 30 years if you can’t afford your bond repayments. It will reduce the repayments but push up the total price considerably.
If you’re able to, use your bond to consolidate your debts at a lower interest rate rather than paying off possibly more expensive car loans and interest on credit cards.
You can also take out a bond on another paid-up property to honor bond commitments in the short term, Swart suggests.
Draw up to 90 per cent of life policy’s investment value to supplement your cash flow for six or more months. If you have life cover for one million rand for instance and already have R100 000 in the policy investment account you can draw up to0 R90 000, Swart says. You can continue the policy; the insurer will reduce your cover to R910 000.
Stop annuity payments for a while and reduce investment payments where possible. You can stop annuity contributions for months or even years; your investment will simply grow at a slower rate until you start contributing again. You can similarly stop or reduce your unit trust payments.
“Use extra capital such as a bonus to reduce your bond,” Du Toit says. But if you have two or three bonds you’re struggling to pay it’s possibly better to put that extra cash in the bank account so you can meet your obligations in the coming months, Swart says. There’s no point in paying off R300 extra a month on one bond and being unable to pay your other debts.
Families should live within their means and budget carefully. “Leave your credit card at home,” Swart says. “All family members have to look where they can cut down on spending. For instance, sell one car and buy something cheap and economical when it comes to maintenance and fuel consumption”. In other words, forget about luxuries. For instance, stop your gym membership and rather go for a run or swim. Stop having drinks and snacks before supper and watch your energy consumption. “Make a list of the family’s non essential spending habits. They could amount to a bond repayment you couldn’t afford”.
If you’re facing sequestration you could contact the National Credit Regulator (ncr.org.za) to arrange payment of your debts with the help of a mediator. If you have received a lawyer’s letter of demand from your bank you can still reverse the repossession by contacting the bank and agreeing to reschedule the loan. Also speak to your bank if you think you may be forced to sell your house. Rather sell the house privately for a better price. Your bank should give you more time to do this if you can still pay off the interest on your bond.
- From Huisgenoot 22 May 2008
Motivation
Standing for what you believe in regardless of the odds against you,
and the pressure that tears at your resistance
...is Courage
Keeping a smile on your face when inside you feel like dying,
for the sake of supporting others
...is Strength.
Stopping at nothing and doing what's in your
heart that you know is right
...is Determination.
Doing more than is expected, to make another's life a little more bearable,
without uttering a single complaint
...is Compassion.
Helping a friend in need, no matter the time or effort,
to the best of your ability
...is Loyalty.
Holding your head high
And being the best you know you can be when life
seems to fall apart at your feet,
...is Fortitude.
Facing each difficulty with thoughts that
time will bring you better tomorrows,
And never giving up...
...is Confidence.
and the pressure that tears at your resistance
...is Courage
Keeping a smile on your face when inside you feel like dying,
for the sake of supporting others
...is Strength.
Stopping at nothing and doing what's in your
heart that you know is right
...is Determination.
Doing more than is expected, to make another's life a little more bearable,
without uttering a single complaint
...is Compassion.
Helping a friend in need, no matter the time or effort,
to the best of your ability
...is Loyalty.
Holding your head high
And being the best you know you can be when life
seems to fall apart at your feet,
...is Fortitude.
Facing each difficulty with thoughts that
time will bring you better tomorrows,
And never giving up...
...is Confidence.
Wednesday, May 21, 2008
ABSA's answer to South Africa Electricity Crisis - Project Ugesi
South Africa is in the midst of an electricity crisis that threatens the country’s medium to long term growth potential. Government urged all households to reduce their electricity consumption by a minimum of 10% coupled with a newly introduced tax levy and a proposed 60% electricity price hike by Eskom. Absa Home Loans recognized that South African’s households are having a tough time with increasing interest rates, fuel costs and the increased cost of living. So having to come up with cash to install energy saving or energy security products to achieve the 10% target may be challenging.
Absa’s solution will take the form of offering customers the ability to finance energy efficient products, which will reduce their usage of electricity and dependence on electricity supply. These products can be financed through the customer taking a Further Advance or using the equity on their home loan.
The purpose of this communication is to outline the relevant value proposition and process to be followed when financing a further advance for this special initiative.
The primary target market for this energy solution initiative is focused on existing Absa Home Loan customers.
Timing:
This initiative will be effective from 1 April 2008 until further notice.
Project Ugesi Value proposition:
For the customer to benefit in the reduced fees they must use the campaign panel attorneys.
• 50% discount on attorney registration fees when taking up a Further Advance.
• Option for early access to funds is still available and this can be discussed with the attorney.
• The Absa endorsed service providers, namely Home Comfort and SCS, are offering all Absa customers a 10% discount on their products. Customers are however free to use other service providers. Absa would still be willing to finance the option. The discount will however not be applicable them.
• Easy access to funds, using the applicants Home Loan (Further Advance, Flexi Reserve, MultiPlan, etc)
• Customers who have their HOC insurance policy through Absa will not be charged additional for a solar geyser (terms and conditions apply). They will however have to advise Absa that this was installed, in order to qualify for an increased pay-out benefit should a claim arise.
• Absa Home Loans service providers offer the following energy efficient and energy security products to the Absa customers at a 10% discount:
o Free site evaluation and consultation
o Solar Water Heating (Solar Geysers)
o Aerated Shower Heads
o Solar Pool Heating
o Water Under floor Heating
o Digital control for Under floor Heating
o Floor Insulation
o Roof / Ceiling Insulation
o Windows Insulation with Safety Film
o Battery Back-ups (UPS)
o Generators
NOTE: Absa does not endorse these products. Customers are not obligated to use this supplier. Customers are also advised to use SABS approved or test approved Solar Water Heater suppliers. The list is available at http://www.eskomdsm.co.za/swh_7_supplier.htm
For more info on applying for this ABSA further advance, email vania@bondapply.com
Absa’s solution will take the form of offering customers the ability to finance energy efficient products, which will reduce their usage of electricity and dependence on electricity supply. These products can be financed through the customer taking a Further Advance or using the equity on their home loan.
The purpose of this communication is to outline the relevant value proposition and process to be followed when financing a further advance for this special initiative.
The primary target market for this energy solution initiative is focused on existing Absa Home Loan customers.
Timing:
This initiative will be effective from 1 April 2008 until further notice.
Project Ugesi Value proposition:
For the customer to benefit in the reduced fees they must use the campaign panel attorneys.
• 50% discount on attorney registration fees when taking up a Further Advance.
• Option for early access to funds is still available and this can be discussed with the attorney.
• The Absa endorsed service providers, namely Home Comfort and SCS, are offering all Absa customers a 10% discount on their products. Customers are however free to use other service providers. Absa would still be willing to finance the option. The discount will however not be applicable them.
• Easy access to funds, using the applicants Home Loan (Further Advance, Flexi Reserve, MultiPlan, etc)
• Customers who have their HOC insurance policy through Absa will not be charged additional for a solar geyser (terms and conditions apply). They will however have to advise Absa that this was installed, in order to qualify for an increased pay-out benefit should a claim arise.
• Absa Home Loans service providers offer the following energy efficient and energy security products to the Absa customers at a 10% discount:
o Free site evaluation and consultation
o Solar Water Heating (Solar Geysers)
o Aerated Shower Heads
o Solar Pool Heating
o Water Under floor Heating
o Digital control for Under floor Heating
o Floor Insulation
o Roof / Ceiling Insulation
o Windows Insulation with Safety Film
o Battery Back-ups (UPS)
o Generators
NOTE: Absa does not endorse these products. Customers are not obligated to use this supplier. Customers are also advised to use SABS approved or test approved Solar Water Heater suppliers. The list is available at http://www.eskomdsm.co.za/swh_7_supplier.htm
For more info on applying for this ABSA further advance, email vania@bondapply.com
Tuesday, May 20, 2008
New value added service for declined applications
We can assist all clients who have been declined due to adverse listings, judgments or poor credit profile.
1 Clients who have settled their debts and need their credit bureau profile improved.
2 Clients who have NOT yet settled their debts, but have the funds to settle their debts themselves and need their credit bureau profile improved.
3 Clients who own a property (with sufficient equity), have a poor credit profile and do not have the funds to settle their debts themselves. In this case we could assist the client with a bridging loan.
CLIENTS WHO CANNOT BE ASSISTED WITH BRIDGING LOANS
1 Clients who are under administration or have consulted with a debt councillor.
2 Clients who have been sequestrated and have not yet been rehabilitated.
3 Clients who own a property with insufficient equity.
4 Clients who are purchasing a new property i.e. not switching or applying for a further loan.
5 Clients who have Standard Bank judgments. We will consider these if the bank has already consented to rescission of judgment.
6 Clients who have 3 or more “unremovable” defaults and/or an extremely poor payment profile.
INFORMATION REQUIRED FROM A CLIENT
1 All applicable ID documents.
2 Marriage certificate (if applicable).
3 ANC contract (if applicable).
4 Latest 3 months bank statements or 6 months if self-employed.
5 Latest 3 months payslips or letter from auditor if self-employed.
6 Latest 6 months bond statements or 12 months if self-employed.
7 Latest rates account.
8 Latest water and electricity account.
9 Latest Levy account (if applicable).
10 Statements from companies that client is indebted to or in arrears with, or a list of the accounts with approximate outstanding amounts and account numbers, if possible.
11 If self employed, 6 months company bank statements and company registration documents
PROCESS FLOW:
The application is scrutinised and either approved or declined.
If approved, the client signs legal documents and securities are put into place.
Debts are settled and the client’s credit bureau profile is attended to.
We submit the home loan application to the relevant financial institutions for approval.
The home loan is approved.
The amount outstanding for bridging is settled by the attorneys on registration from the balance of the proceeds.
We also now attend to switches to the following banks:
· ABSA
· SA Home loans
· Ithala
In addition we also now assist with commercial bonds to the following banks:
· Standard bank
· Ithala
· Imperial bank
· Nedbank
· Absa
· Fnb
If a client require a personal loan we can assist them at the following banks:
· Nedbank
· Fnb
We also now attend to new loans & further advances to the following banks:
· SA HOME LOANS
· ITHALA
Email vania@bondapply.com for more info.
1 Clients who have settled their debts and need their credit bureau profile improved.
2 Clients who have NOT yet settled their debts, but have the funds to settle their debts themselves and need their credit bureau profile improved.
3 Clients who own a property (with sufficient equity), have a poor credit profile and do not have the funds to settle their debts themselves. In this case we could assist the client with a bridging loan.
CLIENTS WHO CANNOT BE ASSISTED WITH BRIDGING LOANS
1 Clients who are under administration or have consulted with a debt councillor.
2 Clients who have been sequestrated and have not yet been rehabilitated.
3 Clients who own a property with insufficient equity.
4 Clients who are purchasing a new property i.e. not switching or applying for a further loan.
5 Clients who have Standard Bank judgments. We will consider these if the bank has already consented to rescission of judgment.
6 Clients who have 3 or more “unremovable” defaults and/or an extremely poor payment profile.
INFORMATION REQUIRED FROM A CLIENT
1 All applicable ID documents.
2 Marriage certificate (if applicable).
3 ANC contract (if applicable).
4 Latest 3 months bank statements or 6 months if self-employed.
5 Latest 3 months payslips or letter from auditor if self-employed.
6 Latest 6 months bond statements or 12 months if self-employed.
7 Latest rates account.
8 Latest water and electricity account.
9 Latest Levy account (if applicable).
10 Statements from companies that client is indebted to or in arrears with, or a list of the accounts with approximate outstanding amounts and account numbers, if possible.
11 If self employed, 6 months company bank statements and company registration documents
PROCESS FLOW:
The application is scrutinised and either approved or declined.
If approved, the client signs legal documents and securities are put into place.
Debts are settled and the client’s credit bureau profile is attended to.
We submit the home loan application to the relevant financial institutions for approval.
The home loan is approved.
The amount outstanding for bridging is settled by the attorneys on registration from the balance of the proceeds.
We also now attend to switches to the following banks:
· ABSA
· SA Home loans
· Ithala
In addition we also now assist with commercial bonds to the following banks:
· Standard bank
· Ithala
· Imperial bank
· Nedbank
· Absa
· Fnb
If a client require a personal loan we can assist them at the following banks:
· Nedbank
· Fnb
We also now attend to new loans & further advances to the following banks:
· SA HOME LOANS
· ITHALA
Email vania@bondapply.com for more info.
Plot for developers for sale - Elsies River - R 1 350 000 negotiable
Rezoned to allow for the building of flats
Architect plans were approved by council around September 2007.
The approved plans are for 10 units in a secured complex. The unit size is 50sqm. There is a parking bay allocated for each unit as well.
For more info contact vania@bondapply.com
Do you want to be at peace with your money?
Have you ever thought “if only I had more money then things would be different?”
Are you earning more money now than you were two or five years ago – yet you still feel like you don’t have “enough” money?
Do you ever ask the question “where has all my money gone?”
Have you ever said “I need to sort out my finances” but never have.
Do you want to be financially free?
Would you like to ‘pay yourself first’ each month?
Do you want money for the fun things in life?
Would you like to be wealthy?
Just think for a moment:
Before you go on holiday, you decide where you want to go to, determine when and how you are going to get there, what you are going to take and then you go on holiday.
When you plan and prepare a meal, you follow a recipe and monitor the food as it cooks.
How much attention do you give to the planning and management of your money each month?
I understand! There are a number of reasons why you wouldn’t pay attention to your money:
• You don’t see the benefit in doing so, or don’t want to see the benefit.
• You don’t know how to. You’re not alone. 90% of people need financial education and discipline.
• You might be scared of money. Lots of people are.
• Your perceptions and beliefs are in the way.
• If I operate a ‘budget’ it would limit me.
• And, and, and……..
Imagine; you are on the roof of a 20 story building, it has a flat roof. There are no barriers around the edge. Where will you be standing? On the edge peering over! Would you put on a pair of roller skates and happily skate around the roof or would you play blind mans bluff without any fear.
Probably not!
However, if a solid 6 foot fence was erected around the edge of the roof, what then? Would you have more freedom to walk up to the edge and look over? Would you be able to play more freely on the roof safe in the knowledge that you aren’t going to fall off?
Absolutely!
Consider then that a ‘spending plan’ instead of limiting you will in fact set you free just like the fence around the top of the building would free you up to relax and enjoy yourself. You would no longer have to worry about ‘falling over the edge’.
Would you benefit from?
• Having financial goals and a plan to achieve them
• Knowing how to manage your money
• Being supported along your financial journey and held accountable to attaining results
• Having the mindset to generate results consistently
• Being financially free
If you are ready to take charge of your money then I invite you to set up your life powerfully by spending a day doing just that by participating in the Money Wise – Financially Free workshop.
As the facilitator of this empowering workshop my objective is to support you to unburden yourself of the fears or barriers you have around money and for you to take responsibility for your finances so that you may live an extraordinary, abundant and wealthy life in a safe environment.
OUTCOMES
By the end of the workshop you will have:
• Clarity, knowledge and understanding of how to work with your money
• Tools to take away that are simple and inspiring to support your financial journey
• A completely new perspective on your money
• Goals that suddenly look achievable
• Spent time reflecting on your money and what you want
• Financial peace of mind
WHO WOULD BENEFIT
• People wanting financial education and discipline.
• Anyone feeling anxious and stressed about money.
• Anyone wanting to take responsibility for their money.
• Anyone wanting to get ahead in life.
• Anyone who feels there is just never ‘enough’.
WORKSHOP DATES:
DATE: Saturday 31st May 2008
TIME: 09h00am to 17h00pm
VENUE: Royal Cape Yacht Club
TUITION:
R750.00 per person
R1300 per couple
The tuition includes a workbook, refreshments and a free follow up coaching session.
To register please e-mail or phone Antony at the details below
Antony Kirk
financial coach and facilitator
ARK financial coaching
Cell: 082 579 6997
Fax: 086 695 0335
antkirk@xsinet.co.za
“Inspiring wealth and financial freedom”
“Knowledge is only potential power. For knowledge to be manifested it must be applied”
Riverfront plot for sale - Oewerstroom Private Estate near Hartenbos, SA - R 795 000 negotiable
Riverfront Plot.
Unobstructed river views with direct access to navigable river to the ocean.
Estate has only 30 properties in total so you will enjoy peace and quiet..........
Plot at only R795 000 or nearest offer.
Estate is fully enclosed with private entrance.
The roads have been built and fences erected. All the properties face a common green on the river edge so that one will have unobstructed river views and access.
For more info contact vania@bondapply.com
Monday, May 19, 2008
Flat for sale - Southfields, London, UK
This newly decorated bright and attractive two bed roomed first floor flat in Southfields features a modern open-plan reception room/kitchen with a stylish interior.
The property further comprises two well proportioned bedrooms, a newly installed bathroom and amble storage space in the hallway. Situated on Bell Drive, just off Linstead Way, the green open spaces and woodland walks of Wimbledon Common and Putney Heath are within easy reach, whilst the shops, bars and restaurants of Southfields are also nearby.
The nearest station is Southfields Underground station that is a 12min walk away (District Line), which provides regular services to central London and London Victoria (for Circle and Victoria lines and British Rail services to Gatwick Airport). Regular bus services (2 every 10mins) also stop nearby that’s travels to Putney town centre within 5 mins.
Map:
http://maps.google.co.uk/maps?f=q&hl=en&geocode=&q=bell+drive,+london&sll=52.335339,-1.054687&sspn=11.855908,20.192871&ie=UTF8&ll=51.44708,-0.210049&spn=0.011795,0.01972&z=16&iwloc=addr&pw=2
Features:
Totally re-furbished in July 2007
New combination boiler and central heating network (Boiler under warrantee)
Integrated fridge & freezer (under warrantee)
Newly installed oven, hob and extractor fan (under warrantee)
Newly fitted bathroom
Two big hallway storage cupboards
Main bedroom build in cupboards
Ample free off street parking
Furniture included in sale
4) Other Info:
Potential rental income: £1050 - £1100/calendar month
Service Charge: £450/calendar year
Lease: 107 years remaining
For pictures and more information, contact Eric S Doms eric@horizon-consultancy.com
+44 (0)79 0630 9038
www.horizon-consultancy.com
The property further comprises two well proportioned bedrooms, a newly installed bathroom and amble storage space in the hallway. Situated on Bell Drive, just off Linstead Way, the green open spaces and woodland walks of Wimbledon Common and Putney Heath are within easy reach, whilst the shops, bars and restaurants of Southfields are also nearby.
The nearest station is Southfields Underground station that is a 12min walk away (District Line), which provides regular services to central London and London Victoria (for Circle and Victoria lines and British Rail services to Gatwick Airport). Regular bus services (2 every 10mins) also stop nearby that’s travels to Putney town centre within 5 mins.
Map:
http://maps.google.co.uk/maps?f=q&hl=en&geocode=&q=bell+drive,+london&sll=52.335339,-1.054687&sspn=11.855908,20.192871&ie=UTF8&ll=51.44708,-0.210049&spn=0.011795,0.01972&z=16&iwloc=addr&pw=2
Features:
Totally re-furbished in July 2007
New combination boiler and central heating network (Boiler under warrantee)
Integrated fridge & freezer (under warrantee)
Newly installed oven, hob and extractor fan (under warrantee)
Newly fitted bathroom
Two big hallway storage cupboards
Main bedroom build in cupboards
Ample free off street parking
Furniture included in sale
4) Other Info:
Potential rental income: £1050 - £1100/calendar month
Service Charge: £450/calendar year
Lease: 107 years remaining
For pictures and more information, contact Eric S Doms eric@horizon-consultancy.com
+44 (0)79 0630 9038
www.horizon-consultancy.com
ABSA raises home loan deposits
Absa, South Africa's largest bank, has announced an increase in the deposit that potential home buyers must pay when asking for a home loan, reports Mike Spencer of Platinum Global real estate group.
From Property24, 14 May 2008
The website address is:
http://www.property24.com/property24/
Before 1999 all banks insisted that home buyers contribute something as a deposit when buying a home. Previously this was a 20% deposit across the board. As the house market warmed up in the early part of the twenty-first century banks started to reduce the amount of the deposit required and eventually offered 108% bond which included transfer and bond costs.
Although the banks had been warned by a number of leading estate agents that this was an unhealthy lending policy and could lead to future financial difficulties for homeowners, they have allowed many lenders to take high percentage loans.
Recent strong rises in interest rates has caused considerably affordability problems. With little or no financial involvement in their homes, many homeowners with payment difficulties are feeling that they can simply give their homes back to the bank.
While they may be tempted to do so, it would be an unwise move as it will affect their ability to obtain finance in the future. They should rather consult their lenders and attempt to come to an equitable compromise whereby they continue to pay their loans at the old rate and accumulate unpaid interest until either rates drop or they are able to afford to pay the full instalment.
ABSA has now issued a confirmation that its credit policy is changing with immediate effect. In future, costs will only be available for purchasers of affordable housing (less than R400k and with a total income for the applicant of less than R13k per month).
The bank will continue to consider 100% loans on homes priced at R800k or less.
Properties between R800k and R2,7m will require a minimum of 5% deposit from the buyer. Between R2,7m and R4m will require a minimum of 10% and for over R4m a 20% deposit will be required. These changes take place with immediate effect.
"I have been concerned for some time about these high percentage loans. Fortunately only a few of our clients have elected to take these types of bonds. It is important that buyers should buy within their means and that they should put down the biggest deposit they can together with the transfer and bond registration costs. While the government has eased the transfer duty on property it would help if the level at which no transfer duty was charged was increased say to R800k as this has become the level at which ordinary homes are sold," said Mike Spencer.
"Every incentive should be provided to encourage homeowners to pay off their loans as soon as possible. This could include escalating bond payments so that homeowners effectively get ahead with their bond payments. This would mean that after a year or two it would be possible for individual homeowners to absorb rates changes like those we have recently experienced without having to increase the amount they paid each month".
From Property24, 14 May 2008
The website address is:
http://www.property24.com/property24/
Before 1999 all banks insisted that home buyers contribute something as a deposit when buying a home. Previously this was a 20% deposit across the board. As the house market warmed up in the early part of the twenty-first century banks started to reduce the amount of the deposit required and eventually offered 108% bond which included transfer and bond costs.
Although the banks had been warned by a number of leading estate agents that this was an unhealthy lending policy and could lead to future financial difficulties for homeowners, they have allowed many lenders to take high percentage loans.
Recent strong rises in interest rates has caused considerably affordability problems. With little or no financial involvement in their homes, many homeowners with payment difficulties are feeling that they can simply give their homes back to the bank.
While they may be tempted to do so, it would be an unwise move as it will affect their ability to obtain finance in the future. They should rather consult their lenders and attempt to come to an equitable compromise whereby they continue to pay their loans at the old rate and accumulate unpaid interest until either rates drop or they are able to afford to pay the full instalment.
ABSA has now issued a confirmation that its credit policy is changing with immediate effect. In future, costs will only be available for purchasers of affordable housing (less than R400k and with a total income for the applicant of less than R13k per month).
The bank will continue to consider 100% loans on homes priced at R800k or less.
Properties between R800k and R2,7m will require a minimum of 5% deposit from the buyer. Between R2,7m and R4m will require a minimum of 10% and for over R4m a 20% deposit will be required. These changes take place with immediate effect.
"I have been concerned for some time about these high percentage loans. Fortunately only a few of our clients have elected to take these types of bonds. It is important that buyers should buy within their means and that they should put down the biggest deposit they can together with the transfer and bond registration costs. While the government has eased the transfer duty on property it would help if the level at which no transfer duty was charged was increased say to R800k as this has become the level at which ordinary homes are sold," said Mike Spencer.
"Every incentive should be provided to encourage homeowners to pay off their loans as soon as possible. This could include escalating bond payments so that homeowners effectively get ahead with their bond payments. This would mean that after a year or two it would be possible for individual homeowners to absorb rates changes like those we have recently experienced without having to increase the amount they paid each month".
Plot for sale - Stonehaven Estate, Fish Hoek, Western Cape - R 1 320 000 negotiable
The plot is on a small wine estate with cobbled roads and olive trees.
The size is 1364 m2 making it the largest plot in the Estate.
There are approved plans. The landscape plans and Environmental Impact Study have been done as well, literally one can start building today!
The views are unobstructed over to Long Beach and Chapman's Peak. No one can build in front of this plot. It is completely secure, situated close to the gate, the plot is level and easy to build on. The surrounding three houses have been built and thus all the boundary walls are already in place as well.
For more info email vania@bondapply.com
Flat for sale - Stellenbosch, Western Cape - R 495 000 negotiable
Flat for sale - Mulberry Place, Cloetesville, Stellenbosch, Western Cape, South Africa
R 495 000 negotiable. 36 m2. On 2nd floor.
Levies R 411.86 per month.
1 Bedroom, 1 bathroom, under cover parking, communal pool and braai facilities.
3-4 km from Stellenbosch University, secure complex with intercom and electric fencing with pool and braai facilities and undercover parking.
Expected rental income around R 2900 per month. Ideal for students.
For more information contact vania@bondapply.com
R 495 000 negotiable. 36 m2. On 2nd floor.
Levies R 411.86 per month.
1 Bedroom, 1 bathroom, under cover parking, communal pool and braai facilities.
3-4 km from Stellenbosch University, secure complex with intercom and electric fencing with pool and braai facilities and undercover parking.
Expected rental income around R 2900 per month. Ideal for students.
For more information contact vania@bondapply.com
Plots for sale - Parsons Ridge, Westering, Port Elizabeth - R 225 000 each
2 Plots for sale in Eastern Cape, South Africa.
610 m2 each.
Price negotiable.
Vacant land.
Contact vania@bondapply.com for more info.
610 m2 each.
Price negotiable.
Vacant land.
Contact vania@bondapply.com for more info.
Discover the fun of work
"The supreme accomplishment is to blur the line between work and play."
Arnold Toynbee.
For many years, therapists have encouraged adults to get in touch with their inner child. With the growing popularity of extreme sports, exciting trips into the wilderness and obsessions with kiddies-toy collectables, it seems that adults are taking their advice and are ready to have fun. This urge to play, whether through a game of tennis or miniature train collecting, is a vital and healthy one – and not limited to children, say the experts.
Play is pure pleasure! It is intense, absorbing and invigorating and can drive out anger, anxiety and fear. Taking time to play gives us the distraction from worries about expanding waistlines and rising bills, enabling us to focus on pleasure rather than duty. Furthermore, it has been found that adults who have a sense of fun and playfulness are better able to handle life’s challenges, think creatively, manage stress, have healthy relationships and strong families, grow spiritually and increase their personal confidence.
So how can we experience more fun into our workplace? It seems that often the reward of a good salary and generous bonuses isn’t enough to get you to enjoy your work and be the best you can be in your job. The work itself must be interesting and engaging. When you have the kind of job that you can get completely engrossed in, then you can say with certainty, that your work is fun!
Your work environment is another important reason for finding your job fun. When you work with colleagues you like and who like you, when you recognize each other’s capabilities, and when there is a sense of true consideration and respect for the other person, then work is really fun.
When your workplace community has light-hearted staff members who celebrate events like birthdays, new contracts, births, weddings etc, it has a positive effect on the level of fun at work. (We all know at least one playful person at work who is fun to be around!)
This sense of fun seems to have a positive impact on each staff member’s sense of his or her own abilities. The team’s competency increases and there is a drive to meet even greater challenges. There is greater personal involvement and an increase in staff commitment. Even Richard Branson, when asked the secret of his success, replied “Have fun working”
So don’t forget to play, it is the source of great inspiration and growth!
For many years, therapists have encouraged adults to get in touch with their inner child. With the growing popularity of extreme sports, exciting trips into the wilderness and obsessions with kiddies-toy collectables, it seems that adults are taking their advice and are ready to have fun. This urge to play, whether through a game of tennis or miniature train collecting, is a vital and healthy one – and not limited to children, say the experts.
Play is pure pleasure! It is intense, absorbing and invigorating and can drive out anger, anxiety and fear. Taking time to play gives us the distraction from worries about expanding waistlines and rising bills, enabling us to focus on pleasure rather than duty. Furthermore, it has been found that adults who have a sense of fun and playfulness are better able to handle life’s challenges, think creatively, manage stress, have healthy relationships and strong families, grow spiritually and increase their personal confidence.
So how can we experience more fun into our workplace? It seems that often the reward of a good salary and generous bonuses isn’t enough to get you to enjoy your work and be the best you can be in your job. The work itself must be interesting and engaging. When you have the kind of job that you can get completely engrossed in, then you can say with certainty, that your work is fun!
Your work environment is another important reason for finding your job fun. When you work with colleagues you like and who like you, when you recognize each other’s capabilities, and when there is a sense of true consideration and respect for the other person, then work is really fun.
When your workplace community has light-hearted staff members who celebrate events like birthdays, new contracts, births, weddings etc, it has a positive effect on the level of fun at work. (We all know at least one playful person at work who is fun to be around!)
This sense of fun seems to have a positive impact on each staff member’s sense of his or her own abilities. The team’s competency increases and there is a drive to meet even greater challenges. There is greater personal involvement and an increase in staff commitment. Even Richard Branson, when asked the secret of his success, replied “Have fun working”
So don’t forget to play, it is the source of great inspiration and growth!
Some ideas on how to inject a little fun into the workplace:
Ask all employees to bring in baby photos or Matric dance photographs to post on the bulletin board. Then guess who's who.
Ask all employees to bring in baby photos or Matric dance photographs to post on the bulletin board. Then guess who's who.
The Travelling Bouquet: bring in a bouquet of flowers and present it to one of your co-workers. Tell him/her to keep this on his/her desk for the next half-hour, then pass it on to someone else and tell him/her to do the same!
Hold a Company Limousine Lottery where the winner gets driven to and from work in the company limo. (If you don't have a company limo, rent one for the day!)
Take some Joy Breaks during the day and teach all your employees the art of tennis ball juggling or play marbles together or any other fun activity.
Hire an On-site Masseuse for the day.
Take a group photo portrait of your office mates dressed up for Clash Dressing Day ... or Polka Dots Day ... or Suspender Day ... or Pyjama Day ... or Bad Hair Day!
- From SAMO Newsletter - May 2008
Will property rentals save the day?
No sooner have we recovered from the latest increase in the interest rate, than the Reserve Bank hinted that yet another increase might be on its way much sooner than we expected. Given the increase in interest rates during the last year or two, the oil price spiraling out of control causing local fuel prices to reach all-time highs, food prices rocketing, inflation exceeding the targets set by the Reserve Bank and the electricity crisis having a major impact on all South Africans, it comes as no surprise that the property market has been adversely influenced.
Sales in the residential property market have slowed down enormously over the past few months as the abovementioned factors have contributed to restricting prospective buyers’ borrowing ability. It is becoming increasingly more difficult for first-time home buyers to buy property, and those people who were already struggling to make ends meet prior to the recent interest rate hikes, simply cannot afford the repayments on their properties.
But the downfall of one is certainly set to be the success of the other. In the wake of the stagnant housing market, the rental market is expected to improve significantly. According to the latest FNB Property Barometer, yields in the rental market have increased. Yields of upto 9% are no longer un attainable.
Rental properties are in huge demand as many would-be buyers shy away from taking up mortgage bonds with the possibilities of even more interest rate hikes. As a result of this upsurge in demand for rental properties, rental prices charged by landlords are set to increase drastically over the next year. Furthermore, as landlords negotiate a higher rent for their properties, the demand for available rental properties will increase. Therefore, it is expected that the higher demand for properties in the lower price sector will stimulate the current slow-down of property value growth. According to FNB, the rental market has strengthened to a point where it could promote an overall sector recovery.
Many experts believe opportunities to buy properties with the intention of selling them in a relatively short period of time for a huge profit will become increasingly scarce. However, property investors might be lured back by the upsurge in demand for rental properties.
- Theuns Hanekom - SAMO Newsletter May 2008
Sales in the residential property market have slowed down enormously over the past few months as the abovementioned factors have contributed to restricting prospective buyers’ borrowing ability. It is becoming increasingly more difficult for first-time home buyers to buy property, and those people who were already struggling to make ends meet prior to the recent interest rate hikes, simply cannot afford the repayments on their properties.
But the downfall of one is certainly set to be the success of the other. In the wake of the stagnant housing market, the rental market is expected to improve significantly. According to the latest FNB Property Barometer, yields in the rental market have increased. Yields of upto 9% are no longer un attainable.
Rental properties are in huge demand as many would-be buyers shy away from taking up mortgage bonds with the possibilities of even more interest rate hikes. As a result of this upsurge in demand for rental properties, rental prices charged by landlords are set to increase drastically over the next year. Furthermore, as landlords negotiate a higher rent for their properties, the demand for available rental properties will increase. Therefore, it is expected that the higher demand for properties in the lower price sector will stimulate the current slow-down of property value growth. According to FNB, the rental market has strengthened to a point where it could promote an overall sector recovery.
Many experts believe opportunities to buy properties with the intention of selling them in a relatively short period of time for a huge profit will become increasingly scarce. However, property investors might be lured back by the upsurge in demand for rental properties.
- Theuns Hanekom - SAMO Newsletter May 2008
Plot for sale - Fynbos Crescent, Pearl Bay Heights, Yzerfontein - R 2 060 000 neg
Vacant land for sale in Yzerfontein, West Coast, Western Cape, South Africa.
Close to Cape Town.
717m2. Unobstructed sea views, can see Dassen Island and Table Mountain clearly, about 150m front beach.
No time limit in which to start building.
Green belt between erf and next plot, then beach front.
For more info contact vania@bondapply.com
Close to Cape Town.
717m2. Unobstructed sea views, can see Dassen Island and Table Mountain clearly, about 150m front beach.
No time limit in which to start building.
Green belt between erf and next plot, then beach front.
For more info contact vania@bondapply.com
Plot for sale - Pearl Bay Heights, Yzerfontein - R 690 000 neg
Plot for sale - Yzerfontein, West Coast, Western Cape, South Africa
Price - R 690 000 negotiable.
1000 m2. Fynbos and beach views.
Vacant land - Protected from wind, close to beach.
No time limit stipulated in which to start building.
Approx property value = R 750 000.
Please contact vania@bondapply.com for more info.
Price - R 690 000 negotiable.
1000 m2. Fynbos and beach views.
Vacant land - Protected from wind, close to beach.
No time limit stipulated in which to start building.
Approx property value = R 750 000.
Please contact vania@bondapply.com for more info.
Plot for sale - Yzerfontein - R 580 000 neg
One of my clients have a plot for sale in Yzerfontein, West Coast, Western Cape, South Africa.
957 m2. Corner plot.
Offers will be considered.
Please email me for more information vania@bondapply.com
Wednesday, May 14, 2008
Homeowners turn to renovations
Higher interest rates and the National Credit Act (NCA) may well have forced consumers to think twice before moving house or buying investment properties but it hasn't stopped them from upgrading existing homes. Latest building data from Stats SA show a hefty rise of 27,3% in the value of building plans passed for residential additions and alterations in the first two months of 2008 (y-o-y). That compares to a rise of only 2,7% in the value of all residential building plans passed for the same period.
Completions of additions and alterations were also up 25,3% in January and February this year compared to the same period last year. That is in stark contrast to a drop of 8% in all residential building plans completed over the same period. The fact that homeowners continue to spend money on renovations probably explains why the growth in mortgage advances have held up relatively well amid a sharp drop in housing sales. According to latest SA Reserve Bank figures growth in mortgage advances was still up 23,2% in March 2008.
Economists were expecting mortgage lending to slow significantly this year on the back of higher rates and the introduction of the NCA mid-2007. But that has yet to happen despite estate agents reporting a drop of around 30% in housing sales in first quarter 2008. Property analysts say that rising rates and rapid house price inflation over the past five years have made it increasingly expensive to upgrade from one property to another. So many homeowners are taking out second and third bonds to improve their existing homes instead.
Research done by FNB Home Loans appears to support this trend. A survey done by the bank in fourth quarter 2007 shows that approximately one in five homeowners were investing in their existing homes by making major improvements and renovations. Lynette Nicholson, head of research at FNB Home Loans, says about 36% of homeowners spending money on improvements are doing so because they cannot afford to buy elsewhere and want to upgrade the property that they currently live in. Nicholson says about 20% of homeowners make improvements in order to increase the value that they can sell their homes for in the short-term. This is more prevalent in the lower and middle house price segments than it is in the upper priced property market.
- Joan Muller - From Property24.com 12/5/2008
Completions of additions and alterations were also up 25,3% in January and February this year compared to the same period last year. That is in stark contrast to a drop of 8% in all residential building plans completed over the same period. The fact that homeowners continue to spend money on renovations probably explains why the growth in mortgage advances have held up relatively well amid a sharp drop in housing sales. According to latest SA Reserve Bank figures growth in mortgage advances was still up 23,2% in March 2008.
Economists were expecting mortgage lending to slow significantly this year on the back of higher rates and the introduction of the NCA mid-2007. But that has yet to happen despite estate agents reporting a drop of around 30% in housing sales in first quarter 2008. Property analysts say that rising rates and rapid house price inflation over the past five years have made it increasingly expensive to upgrade from one property to another. So many homeowners are taking out second and third bonds to improve their existing homes instead.
Research done by FNB Home Loans appears to support this trend. A survey done by the bank in fourth quarter 2007 shows that approximately one in five homeowners were investing in their existing homes by making major improvements and renovations. Lynette Nicholson, head of research at FNB Home Loans, says about 36% of homeowners spending money on improvements are doing so because they cannot afford to buy elsewhere and want to upgrade the property that they currently live in. Nicholson says about 20% of homeowners make improvements in order to increase the value that they can sell their homes for in the short-term. This is more prevalent in the lower and middle house price segments than it is in the upper priced property market.
- Joan Muller - From Property24.com 12/5/2008
Sunday, May 11, 2008
No recession on the cards for property
The South African residential property market is expected to experience a relatively mild cyclical downturn rather than a full blown recession, says Sizwe Nxedlana, Standard Bank Property Economist.
"Given the current dismal house price growth currently being experienced in South Africa, the question of whether or not the South African housing market will experience a deep recession similar to that being experienced in the US housing market is being asked with increasing frequency.
"However, our analysis of the sources of the recession in the US housing market and it subsequent transmission mechanism to the rest of the US economy suggest that South African residential property will experience a relatively mild cyclical downturn rather than a full blown recession," says Nxedlana in the latest Standard Bank Property Gauge.
The Standard Bank median house price index recorded negative year-on-year growth for the second consecutive month. The Standard Bank median house price fell to 530,000 rand in April from 550,000 rand in March.
The April median house price of 530,000 rand translates into a growth rate of -8.6% year-on-year when compared to the median price recorded in April 2007.
The five month moving average growth rate declined to -2.8% year-on-year in April. However, these figures should be interpreted with caution before any assumptions are made, according to Nxedlana.
He says: "A relatively high base value from which the latest and pending year-on-year growth rates is calculated was established last year.
"The establishment of the high base was primarily due to the temporary upward adjustment in the distribution of mortgages entering Standard Bank’s home loans book in the months leading up to the introduction of the National Credit Act (NCA).
"The uncertainty preceding the implementation of the NCA incentivised the prioritisation and increased the urgency by market participants to conclude higher valued housing transactions in order to circumvent the possibility of stricter lending standards post implementation."
The distortive base effects may continue to impact the point estimates of the monthly median house price in May, June and possibly July suggesting further negative year-on-year growth rates in those months.
"The implication of all of this is that there may be an overestimation in the extent of the decline in house price growth.
Leon Barnard, Director Standard Bank Personal and Business Banking Products says: "Property remains the one of the best investments and over time has shown very good returns. There is no denying that South African consumers are starting to feel the pinch of higher inflation and the higher interest rate environment.
"There is also no denying that property prices have cooled off dramatically in the past few months as a consequence of these environmental pressures. While these numbers might raise some concern there are a few important factors to bear in mind.
"Firstly, it is the upper most sector of the property market that has cooled off the most. We are starting to see increased levels of activity in the lower property segments.
"It’s not all doom and gloom. Standard Bank is actually quite pleased with the performance and resilience currently being seen in the lower spectrums of the property market."
The recent trends in South African house price growth, when compared to trends in the US and the growing impact of the sub-prime crisis could at first glance seem ominous for the outlook for South African residential property.
Increasingly, there are comparisons being made between the sub-prime induced housing recession in the USA and the current challenging conditions facing the South African housing market.
"The overall downward trend is still reflective of the sharp fall in demand due to the reduction in housing affordability which is a function of other well documented factors constraining the ability of consumer to purchase residential property," says Nxedlana.
- From The Business Times - 5 May 2008
"Given the current dismal house price growth currently being experienced in South Africa, the question of whether or not the South African housing market will experience a deep recession similar to that being experienced in the US housing market is being asked with increasing frequency.
"However, our analysis of the sources of the recession in the US housing market and it subsequent transmission mechanism to the rest of the US economy suggest that South African residential property will experience a relatively mild cyclical downturn rather than a full blown recession," says Nxedlana in the latest Standard Bank Property Gauge.
The Standard Bank median house price index recorded negative year-on-year growth for the second consecutive month. The Standard Bank median house price fell to 530,000 rand in April from 550,000 rand in March.
The April median house price of 530,000 rand translates into a growth rate of -8.6% year-on-year when compared to the median price recorded in April 2007.
The five month moving average growth rate declined to -2.8% year-on-year in April. However, these figures should be interpreted with caution before any assumptions are made, according to Nxedlana.
He says: "A relatively high base value from which the latest and pending year-on-year growth rates is calculated was established last year.
"The establishment of the high base was primarily due to the temporary upward adjustment in the distribution of mortgages entering Standard Bank’s home loans book in the months leading up to the introduction of the National Credit Act (NCA).
"The uncertainty preceding the implementation of the NCA incentivised the prioritisation and increased the urgency by market participants to conclude higher valued housing transactions in order to circumvent the possibility of stricter lending standards post implementation."
The distortive base effects may continue to impact the point estimates of the monthly median house price in May, June and possibly July suggesting further negative year-on-year growth rates in those months.
"The implication of all of this is that there may be an overestimation in the extent of the decline in house price growth.
Leon Barnard, Director Standard Bank Personal and Business Banking Products says: "Property remains the one of the best investments and over time has shown very good returns. There is no denying that South African consumers are starting to feel the pinch of higher inflation and the higher interest rate environment.
"There is also no denying that property prices have cooled off dramatically in the past few months as a consequence of these environmental pressures. While these numbers might raise some concern there are a few important factors to bear in mind.
"Firstly, it is the upper most sector of the property market that has cooled off the most. We are starting to see increased levels of activity in the lower property segments.
"It’s not all doom and gloom. Standard Bank is actually quite pleased with the performance and resilience currently being seen in the lower spectrums of the property market."
The recent trends in South African house price growth, when compared to trends in the US and the growing impact of the sub-prime crisis could at first glance seem ominous for the outlook for South African residential property.
Increasingly, there are comparisons being made between the sub-prime induced housing recession in the USA and the current challenging conditions facing the South African housing market.
"The overall downward trend is still reflective of the sharp fall in demand due to the reduction in housing affordability which is a function of other well documented factors constraining the ability of consumer to purchase residential property," says Nxedlana.
- From The Business Times - 5 May 2008
Friday, May 9, 2008
Be yourself no matter what
There was this man who saw a scorpion floundering around in the water. He decided to save it by stretching out his finger, but the scorpion stung him. The man still tried to get the scorpion out of the water, But the scorpion stung him again.
Another man nearby told him to stop saving the scorpion that kept stinging him. But the man said: "It is the nature of the scorpion to sting. It is my nature to love. Why should I give up my nature to love just because it is the nature of the scorpion to sting?
"LESSON: Don't give up loving? Don't give up your goodness... Even if the people around you, sting. "The greatness comes not when things go always good for you. But the greatness comes when you're really tested, when you take some knocks, some disappointments, when sadness comes.. Because only if you've been in the deepest valley can you ever know how magnificent it is to be on the highest mountain.
By Douglas Burns
Another man nearby told him to stop saving the scorpion that kept stinging him. But the man said: "It is the nature of the scorpion to sting. It is my nature to love. Why should I give up my nature to love just because it is the nature of the scorpion to sting?
"LESSON: Don't give up loving? Don't give up your goodness... Even if the people around you, sting. "The greatness comes not when things go always good for you. But the greatness comes when you're really tested, when you take some knocks, some disappointments, when sadness comes.. Because only if you've been in the deepest valley can you ever know how magnificent it is to be on the highest mountain.
By Douglas Burns
Thursday, May 8, 2008
How to apply for a building mortgage bond
Description of the Product:
The Building Loan is a process linked to a new Home Loan or to a Further Advance, to assist customers with the construction of residential property or renovations/additions to an existing property.
With this Home Loan you can include the purchase of a vacant stand as well as the cost of building the residence on that property in a single loan.
Documentation to accompany your new loan application:
In order to apply for a Building Loan, banks require the following information:
· Fully completed application form (this can be completed by your mortgage originator)
· Your bar-coded ID document
· Latest salary advice
· The original document or a certified copy of one of the following documents verifying your residential address, not more than three months old: Municipal account, lease or rent agreement, Telkom statement, etc.
· Original document or certified copy of a South African Revenue Services document reflecting your personal details and income tax number (where issued)
· Copy of Contractor’s NHBRC certificate
· Copy of Provisional/Approved Plans
· Copy of detailed tender/quotations
· Minimum specifications and schedule of finishes
· Waiver of Builders Lien.
What are the features of the Product?
· During the building period, the bank pays funds to the developer/builder based on the work completed, against a “progress payment” requested by you.
· Repayment requirements only commence once the loan has been paid out in full (i.e. once building processes are complete), although we recommend voluntary payments are made earlier to cover interim interest (see below).
· Interest is charged on the daily outstanding balance and is capitalised monthly which means that interest starts accumulating as soon as the first payment is made – called “interim interest”. As a result, payments should be made to cover this “interim interest” as it is capitalised, otherwise there will be a shortfall on the final payment.
How does the Product work?
During the building process:
The Building Loan is a process linked to a new Home Loan or to a Further Advance, to assist customers with the construction of residential property or renovations/additions to an existing property.
With this Home Loan you can include the purchase of a vacant stand as well as the cost of building the residence on that property in a single loan.
Documentation to accompany your new loan application:
In order to apply for a Building Loan, banks require the following information:
· Fully completed application form (this can be completed by your mortgage originator)
· Your bar-coded ID document
· Latest salary advice
· The original document or a certified copy of one of the following documents verifying your residential address, not more than three months old: Municipal account, lease or rent agreement, Telkom statement, etc.
· Original document or certified copy of a South African Revenue Services document reflecting your personal details and income tax number (where issued)
· Copy of Contractor’s NHBRC certificate
· Copy of Provisional/Approved Plans
· Copy of detailed tender/quotations
· Minimum specifications and schedule of finishes
· Waiver of Builders Lien.
What are the features of the Product?
· During the building period, the bank pays funds to the developer/builder based on the work completed, against a “progress payment” requested by you.
· Repayment requirements only commence once the loan has been paid out in full (i.e. once building processes are complete), although we recommend voluntary payments are made earlier to cover interim interest (see below).
· Interest is charged on the daily outstanding balance and is capitalised monthly which means that interest starts accumulating as soon as the first payment is made – called “interim interest”. As a result, payments should be made to cover this “interim interest” as it is capitalised, otherwise there will be a shortfall on the final payment.
How does the Product work?
During the building process:
· As the building progresses, payments are made to the developer/builder by means of progress payments. All progress payments must be authorised by the owner. There are normally three progress payments in the life cycle of a building loan – the final payment is only made once the work is completed in full.
· An assessor will visit the site prior to payout of each progress payment.
· Interim interest is calculated on the daily outstanding balance and is capitalised to the account monthly.
· Repayments will only commence once the loan has been paid out in full. However you should make additional payments to cover the accumulated interim interest, which will eliminate any possible shortfall on the final payment (as such a shortfall will be your responsibility).
Pricing structure:
· Only the variable interest rate option is permitted until such time as the loan has been fully paid out.
To process your building loan, please click on http://www.bondapply.com/
Success motivation for today
"I will run, where failures fear to walk.
I will try harder, when failures seek to give in.
I will act right now, for now is all I have.
Tomorrow is the day reserved for the depressed. I am not depressed.
Tomorrow is the day when the failure will succeed. I am not a failure.
I will act now. Success will not wait.
If I delay, success will be lost forever.
This is the time. This is the place. I am the one"
- By Bea Campbell-Young
Wednesday, May 7, 2008
Information on Yuwie.com
By Trae Dizz
Just wanted to say welcome and you have come to the right place for some awesome social networking.
I have been here on Yuwie since September '07 and I'm having the time of my life. Never have I been so happy meeting people and getting paid to do so. Since I'm and "Old School Yuwie Head" (lol) I've decided to post some information that I get a lot of questions about. This is some basic information as to how the site works. However, before I post the infomation below, there are a few points I'd like to make.
1. Yuwie is a Business , so please keep that in mind as you post your pics, and solicitations for other business opportunities you may have. I'd hate to see anyone have their profile locked for noncompliance of the terms of agreement here at Yuwie. Be mindful of how you conduct yourself here. It's an awesome site which has some integrity.
2. Making Friends- Many people ask me, how did I get so many friends and how can I do that? It simple, ask, ask, ask. I have spent countless hours asking for friend requests, and I never turn a person down. You will find the more active you become, the more readily your friends will come to you. The Law of Attraction and the Power of intention is definitely working Here.
3.Be Patient- Remember, like I said earlier, Yuwie is a business so you have to be business savy. Basically that means that you Have to Build your business, and Part of that process is TIME. Many People come here with the mindset of "I'm going to make a Million Dollars in One month?" That is so unrealistic. Therefore, because of that mindset, they become frustrated, quit or think it's a scam. They key is to think LONG TERM, and HAVE FUN. I look at it like this, If you were to only make a DIME here on Yuwie, that's 10 cents more you would have made on Myspace, Facebook, etc... So with that in mind, happy networking and please read the info below. I HOPE THIS HELPS!!
HAPPY NETWORKING,
Trae
What actually counts as a paid page view?
When anyone views any of these pages, it counts as 1 page view for you:
1. your profile page
2. your blog pages
3. view all your friends
4. view all your comments
5. your picture pages
6. if someone views one of your shared layouts
When you view any of these pages, it counts as 1 page view.
1. any of your control panel pages, including but not limited to: settings, messaging, friends, referrals, favorites, etc.
The following does not count as a page view:
1. Refreshing/reloading a page
2. Any page that's viewed within 3 seconds of the last page doesn't count.
Direct Link to This FAQhttp://ww3.yuwie.com/help/?f=53
Actually the most important thing is to get as much referrals as you can. Here is a sample:==========================================LEVELS REFERRALS IMPRESSIONS EARNINGS==========================================
1 ................. 3 .................. 3,000 .............. $0.152 ................. 9 .................. 9,000 .............. $0.453 ................ 27 ................ 27,000 .............. $0.544 ................ 81 ................ 81,000 .............. $1.625 .............. 243 .............. 243,000 ............... $4.866 .............. 729 .............. 729,000 ............. $14.587 ............ 2,187 ........... 2,187,000 ............. $43.748 ............ 6,561 ........... 6,561,000 ........... $328.059 .......... 19,683 ..........19,683,000 ............ $984.1510........... 59,049 ..........59,049,000 ..........$8,857.35==========================================TOTAL: 88,572 88,572,000 $10,235.49==========================================
Here is the secret to earn at Yuwie, keep this in mind:
Just get 3 people, and encourage those 3 people to get 3 people, and to encourage the same of their 3 people åtc.....Sounds easy, so why not try it?
If everyone simply refers 3 people to Yuwie and actively encourages their down line to do the same...then we can stand to make some decent money here.I can't say exactly how much, but here's an example of what could happen. The chart above assumes you refer 3 people, and those 3 people refer 3, then those refer 3, through 10 levels, and each referral gets 1000 page views for the month, and the month's RSR is $0.50.... But does it mean only referrals matter? No, not at all. The number of friends also matters, I mean the more friends you have the more page views you will gain additionally.
For example: If you have 100 friends and everyone of them visits 5 your pages you will have 500 page views, right? ... But if you have 1000 friends by 5 page visits, that means 5000 page views. So, if you have 1000 friends, you would have more people looking at your profile than if you had only 100 friends. Therefore the assertion that there are no benefits of having more friends is wrong.
Make money while networking
> http://www.yuwie.com/bondapply
Just wanted to say welcome and you have come to the right place for some awesome social networking.
I have been here on Yuwie since September '07 and I'm having the time of my life. Never have I been so happy meeting people and getting paid to do so. Since I'm and "Old School Yuwie Head" (lol) I've decided to post some information that I get a lot of questions about. This is some basic information as to how the site works. However, before I post the infomation below, there are a few points I'd like to make.
1. Yuwie is a Business , so please keep that in mind as you post your pics, and solicitations for other business opportunities you may have. I'd hate to see anyone have their profile locked for noncompliance of the terms of agreement here at Yuwie. Be mindful of how you conduct yourself here. It's an awesome site which has some integrity.
2. Making Friends- Many people ask me, how did I get so many friends and how can I do that? It simple, ask, ask, ask. I have spent countless hours asking for friend requests, and I never turn a person down. You will find the more active you become, the more readily your friends will come to you. The Law of Attraction and the Power of intention is definitely working Here.
3.Be Patient- Remember, like I said earlier, Yuwie is a business so you have to be business savy. Basically that means that you Have to Build your business, and Part of that process is TIME. Many People come here with the mindset of "I'm going to make a Million Dollars in One month?" That is so unrealistic. Therefore, because of that mindset, they become frustrated, quit or think it's a scam. They key is to think LONG TERM, and HAVE FUN. I look at it like this, If you were to only make a DIME here on Yuwie, that's 10 cents more you would have made on Myspace, Facebook, etc... So with that in mind, happy networking and please read the info below. I HOPE THIS HELPS!!
HAPPY NETWORKING,
Trae
What actually counts as a paid page view?
When anyone views any of these pages, it counts as 1 page view for you:
1. your profile page
2. your blog pages
3. view all your friends
4. view all your comments
5. your picture pages
6. if someone views one of your shared layouts
When you view any of these pages, it counts as 1 page view.
1. any of your control panel pages, including but not limited to: settings, messaging, friends, referrals, favorites, etc.
The following does not count as a page view:
1. Refreshing/reloading a page
2. Any page that's viewed within 3 seconds of the last page doesn't count.
Direct Link to This FAQhttp://ww3.yuwie.com/help/?f=53
Actually the most important thing is to get as much referrals as you can. Here is a sample:==========================================LEVELS REFERRALS IMPRESSIONS EARNINGS==========================================
1 ................. 3 .................. 3,000 .............. $0.152 ................. 9 .................. 9,000 .............. $0.453 ................ 27 ................ 27,000 .............. $0.544 ................ 81 ................ 81,000 .............. $1.625 .............. 243 .............. 243,000 ............... $4.866 .............. 729 .............. 729,000 ............. $14.587 ............ 2,187 ........... 2,187,000 ............. $43.748 ............ 6,561 ........... 6,561,000 ........... $328.059 .......... 19,683 ..........19,683,000 ............ $984.1510........... 59,049 ..........59,049,000 ..........$8,857.35==========================================TOTAL: 88,572 88,572,000 $10,235.49==========================================
Here is the secret to earn at Yuwie, keep this in mind:
Just get 3 people, and encourage those 3 people to get 3 people, and to encourage the same of their 3 people åtc.....Sounds easy, so why not try it?
If everyone simply refers 3 people to Yuwie and actively encourages their down line to do the same...then we can stand to make some decent money here.I can't say exactly how much, but here's an example of what could happen. The chart above assumes you refer 3 people, and those 3 people refer 3, then those refer 3, through 10 levels, and each referral gets 1000 page views for the month, and the month's RSR is $0.50.... But does it mean only referrals matter? No, not at all. The number of friends also matters, I mean the more friends you have the more page views you will gain additionally.
For example: If you have 100 friends and everyone of them visits 5 your pages you will have 500 page views, right? ... But if you have 1000 friends by 5 page visits, that means 5000 page views. So, if you have 1000 friends, you would have more people looking at your profile than if you had only 100 friends. Therefore the assertion that there are no benefits of having more friends is wrong.
Make money while networking
> http://www.yuwie.com/bondapply
UK House prices
London - British house prices dropped 1.3% in April from March and also declined year-on-year for the first time in 12 years, the country's biggest provider of home loans, Halifax, said on Friday.
Halifax, part of British banking group HBOS, said in its latest monthly survey that house prices fell 0.9% in April from a year earlier. The last time British house prices dropped on a 12-month basis was in 1996.
The average cost of a property in Britain stood at £189 027 in April, it added.
"The decline in prices is driven by a squeeze on spending power and the rapid rise in house prices in the last few years," Halifax said in its survey.
"These factors have curbed housing demand. The rise in (British) interest rates between August 2006 and July 2007 has increased average mortgage costs. A decline in 'real' earnings over the past year has also constrained housing demand," the bank added.
Home owners are also seeing the value of their properties fall as banks become less willing to offer mortgages to higher-risk borrowers amid a squeeze on credit caused by the recent collapse of the US subprime home loan market.
Halifax said the latest price falls "should be viewed in the context of the substantial price rises over recent years."
The cost of British homes almost doubled in the decade to August 2007, it noted.
Halifax said in April that house prices had slumped 2.5% in March from February. That was the biggest monthly fall since September 1992.
The bank added on Friday that it expected house prices in Britain to fall by about 5% in 2008 compared with 2007.
"There will be regional variations, however," it said.
"Some areas of the country, such as Scotland, are likely to record modest price rises whilst other parts (such as Wales and areas of central England) are expected to see falls above the national average."
- AFP
from Fin24.com 2 May 2008
Halifax, part of British banking group HBOS, said in its latest monthly survey that house prices fell 0.9% in April from a year earlier. The last time British house prices dropped on a 12-month basis was in 1996.
The average cost of a property in Britain stood at £189 027 in April, it added.
"The decline in prices is driven by a squeeze on spending power and the rapid rise in house prices in the last few years," Halifax said in its survey.
"These factors have curbed housing demand. The rise in (British) interest rates between August 2006 and July 2007 has increased average mortgage costs. A decline in 'real' earnings over the past year has also constrained housing demand," the bank added.
Home owners are also seeing the value of their properties fall as banks become less willing to offer mortgages to higher-risk borrowers amid a squeeze on credit caused by the recent collapse of the US subprime home loan market.
Halifax said the latest price falls "should be viewed in the context of the substantial price rises over recent years."
The cost of British homes almost doubled in the decade to August 2007, it noted.
Halifax said in April that house prices had slumped 2.5% in March from February. That was the biggest monthly fall since September 1992.
The bank added on Friday that it expected house prices in Britain to fall by about 5% in 2008 compared with 2007.
"There will be regional variations, however," it said.
"Some areas of the country, such as Scotland, are likely to record modest price rises whilst other parts (such as Wales and areas of central England) are expected to see falls above the national average."
- AFP
from Fin24.com 2 May 2008
Saturday, May 3, 2008
Dolphins & Dreams
Adventures
Dolphins and Dreams
Would you love to swim and play with dolphins?
Do you long to connect to the magic and beauty of nature?
Do you want to get clear on your Dreams, Goals and Vision for your life?
Then Join us on our next Fairy Godmother Adventure
16 OCTOBER - 19 OCTOBER 2008
Come and feel the rythym of the sea, the connection to nature, and the fun and playful nature of dolphins and using these incredible animals and experiences as a catalyst to get connected to your dreams and goals for 2008 and beyond as we take you on a 4 day journey in Mozambique.
During this dolphin swim experiential weekend workshop we will go through a Dream Mapping and Goal Setting process and a series of exercises to assist you in realizing and crystallising your dreams and goals for yourself and your life and then how to turn those dreams and goals into reality.
During this dolphin swim experiential weekend workshop we will go through a Dream Mapping and Goal Setting process and a series of exercises to assist you in realizing and crystallising your dreams and goals for yourself and your life and then how to turn those dreams and goals into reality.
Over the 4 days you will spend time in relaxation, creating your own dream collage, journaling, reflection, visualisation and other exercises, together with learning the basic tools to use on a day-to-day basis for turning your dreams into reality… plus of course, swimming with wild dolphins!
You will relax, cut & paste, swim with dolphins, connect, have fun & get in touch with the dreams that linger in your soul!
By the end of the weekend away in Mozambique you will
• Have clarity, focus, direction and tangible tools to use to create a life you love
• Have had time to relax
• Have an amazing and soulful experience of swimming with dolphins
• Be clear on a future direction for your life
• Have given yourself time to relax and play
• Have made a Dream Collage to take home to remind you of what you want
• Have given yourself time for you
• You will have a Big Goal to inspire you
• Find a renewed zest and energy for life
• Have tools to turn your dreams and goals into reality
How much is this fabulous Adventure?
Rate per person sharing: R 3 175.00
Included:
4×4 Transfers from the border to camp
Three night’s accommodation in tents on wooden decking, with mattresses and linen
Snorkelling course & Code-of-conduct-with-dolphins de-briefing
Three launches to swim with the dolphins
Full program presented by Donna McCallum & Courtney Ward
Excluded:
Transport to the Mozambique border
All meals. There is a restaurant to enjoy meals out or a self-catering facility available
Drinks (except tea/coffee served in the dive camp)
Snorkelling equipment
Visa (ONLY for non-South African passport holders)
All meals. There is a restaurant to enjoy meals out or a self-catering facility available
Drinks (except tea/coffee served in the dive camp)
Snorkelling equipment
Visa (ONLY for non-South African passport holders)
For Bookings and Enquiries
Kate from Halo Gaia Holistic Tourism
Email: info@halogaia.com or call 011-614-4185
or
Shanine from Fairy Godmother Inc.
Email: shanine@fairygodmotherinc.com or call 084-207-0202
Kate from Halo Gaia Holistic Tourism
Email: info@halogaia.com or call 011-614-4185
or
Shanine from Fairy Godmother Inc.
Email: shanine@fairygodmotherinc.com or call 084-207-0202
More about the Facilitators:
Donna McCallum
Donna McCallum is a Fantastically Fabulous and Magical Fairy Godmother. She is an inspirational communicator with a passion for people, turning vision into reality, business, making things happen, connection and making a difference.
She is the MD of Fairy Godmother Inc. a business committed to spreading the message that it is possible to live your dreams. Prior to being a Fairy Godmother Donna was a serial entrepreneur who has started, run and sold a number of successful businesses in both Marketing and IT.
In 2007 Donna has been conducting workshops around South Africa, the UK and Germany.
Courtney Ward
Courtney Ward is a talented musician, sound therapist, dolphin swim facilitator, and essentially a performer in ‘the great arts of the divine’, who will be assisting and creating along side Donna.
Courtney has been exploring the powerful use of sound vibration healing for the past 12 years. It has taken her on a journey of shamanic sound discovery that lies within the seed core of us all. Courtney will be utilizing her gifted musical skills to gently guide you on a journey of ancient self-discovery and dolphin jubilance. Courtney will present a meditative Sound Journey for our participants among other musical experiences
The Dolphins
Wild Inshore Bottlenose dolphins - Our communion with the dolphins of Southern Mozambique has produced some extraordinary wonders. The encounters are often up close and very personal, with eye to eye communication and intimate twirling dances… Just you and a wild dolphin in the Big Blue!
If you have always imagined this for yourself, now is the perfect time to explore the world of the dolphin with us.
New buy-to-let offering
Absa introduces new buy-to-let offering
The buy-to-let market, from an investor’s point of view, has grown substantially during the period of declining and low interest rates experienced from 2003 to 2006 as the favourable economic and interest rate environment made it easier to acquire investment property.
However, strong growth in the South African economy coupled with low interest rates also made it easier for prospective buyers to own their own property. This obviously placed the buy-to-let-market under pressure against the backdrop of a surge in supply of rental properties coming onto the market. As a result, rental yields began to decline to levels as low as 0,5% in the recent past. Current market activity does, however, indicate that the rental market is beginning to show signs of resurgence as interest rates rise and the full impact of the NCA comes into play. These developments have had an impact on a buyer’s ability to qualify for a mortgage loan to purchase property.
It is expected that the rental market will improve further as current market conditions continue for the foreseeable future. This coupled with the possible negative impact that the electricity crisis may have on economic growth, employment, inflation, household income and consumption may force many households to look at entering the rental market.
These developments may benefit the investor market from a buy-to-let point of view. Benefits are also available to those who are able to access cash or who do not require high gearing on their investments as investment properties may be acquired at reasonable prices.
The property market is expected to bottom out towards the end of 2008 or in early 2009, with single-digit price growth projected over the next twelve months. As such, this year may be the best year to purchase a house, as well as investment property. It is noted that property in 2012 is expected to be about 60% more expensive than today, taking into annual growth of 10% over this period.
Absa has recognised the unique needs of the buy-to-let investor and has recently launched an offering aimed at addressing these. With the Absa Buy- to-Let product, both novice and experienced investors are placed in the enviable position to create wealth through property ownership.
The product, which is available to investors who purchase property up to the value of R1.5 million, acknowledges the existence of future rental income and uses this in affordability calculations. Value-adds are also offered on a number of items including discounts on Conveyancing Fees and access to services offered through independent Property Management companies.
The buy-to-let market, from an investor’s point of view, has grown substantially during the period of declining and low interest rates experienced from 2003 to 2006 as the favourable economic and interest rate environment made it easier to acquire investment property.
However, strong growth in the South African economy coupled with low interest rates also made it easier for prospective buyers to own their own property. This obviously placed the buy-to-let-market under pressure against the backdrop of a surge in supply of rental properties coming onto the market. As a result, rental yields began to decline to levels as low as 0,5% in the recent past. Current market activity does, however, indicate that the rental market is beginning to show signs of resurgence as interest rates rise and the full impact of the NCA comes into play. These developments have had an impact on a buyer’s ability to qualify for a mortgage loan to purchase property.
It is expected that the rental market will improve further as current market conditions continue for the foreseeable future. This coupled with the possible negative impact that the electricity crisis may have on economic growth, employment, inflation, household income and consumption may force many households to look at entering the rental market.
These developments may benefit the investor market from a buy-to-let point of view. Benefits are also available to those who are able to access cash or who do not require high gearing on their investments as investment properties may be acquired at reasonable prices.
The property market is expected to bottom out towards the end of 2008 or in early 2009, with single-digit price growth projected over the next twelve months. As such, this year may be the best year to purchase a house, as well as investment property. It is noted that property in 2012 is expected to be about 60% more expensive than today, taking into annual growth of 10% over this period.
Absa has recognised the unique needs of the buy-to-let investor and has recently launched an offering aimed at addressing these. With the Absa Buy- to-Let product, both novice and experienced investors are placed in the enviable position to create wealth through property ownership.
The product, which is available to investors who purchase property up to the value of R1.5 million, acknowledges the existence of future rental income and uses this in affordability calculations. Value-adds are also offered on a number of items including discounts on Conveyancing Fees and access to services offered through independent Property Management companies.
bondapply.com is proud to partner with ABSA Home Loans
At some point in consideration of Gavin Opperman’s speech of 25 January 2008 at the Monsoon Lagoon, Emperor’s Palace, I could not help wonder exactly what the meaning of the word “integrity” is.
Along with many impressive announcements and inspiring statements, Gavin also favoured the audience with a few considerable undertakings. This included commitments to Government, a pledge of support to customers and confirmation of our focus on excellent service delivery. Through all this, reference was also made to our “integrity”.
One day later, when Gavin addressed approximately 1260 members of the Absa Home Loans team at the annual road show, he said that we aim to be “The best of the best…. No doubt it means maintaining the high standard of integrity we have established in terms of good corporate citizenship”.
As a newcomer to the Absa Group, I deemed it appropriate to understand exactly what our leader was talking about…
According to the Cambridge Advanced Learner’s Dictionary, synonyms of this word are honesty, uprightness, morality wholeness and unity. It is explained as the quality of being honest and having strong moral principles that you refuse to change.
Research on the history of the word “integrity” revealed that the word stems from the mathematical term “integer”, which simply refers to a status of being unified, complete and consistent.
Whilst thinking of a good example of a famous person who had lived a life of “integrity”, the face of Mother Teresa immediately jumped to mind and then I remembered her famous quote: “I know God won’t give me anything I can’t handle. I just wish He didn’t trust me with so much”.
The mental picture of Mother Teresa took me completely off the definitions of the word and strangely enough, within this context, the word “integrity” now also included a flavour of “servanthood”, although the principle of leadership was unmistakeable.
I realised that “integrity” prolongs leadership and furthermore, it establishes credibility. It provides guidance and it also confirms direction. For us, the challenge probably lies in the fact that “integrity” must be present in all areas of our lives, as people learn more from what we are than from what we say.
Since it appears that our “integrity” is something precious to develop and also to guard, we must decide beforehand never to compromise and never to be corrupted. We must be on guard at all times and we must draw a clear line on the limits of our behaviour.
I believe it is wise to surround ourselves with good people and it is clear that we have no other option that to be fully accountable to one another. It was also Mother Teresa who said “Do not wait for leaders; do it alone, person to person”.
The integrity of Absa Home Loans starts and ends with each and every one of us, in everything we do. Are you ready to become “the best of the best”?
Kind regards,
Jan DavelHead: External Business Initiation
Absa Home Loans
Along with many impressive announcements and inspiring statements, Gavin also favoured the audience with a few considerable undertakings. This included commitments to Government, a pledge of support to customers and confirmation of our focus on excellent service delivery. Through all this, reference was also made to our “integrity”.
One day later, when Gavin addressed approximately 1260 members of the Absa Home Loans team at the annual road show, he said that we aim to be “The best of the best…. No doubt it means maintaining the high standard of integrity we have established in terms of good corporate citizenship”.
As a newcomer to the Absa Group, I deemed it appropriate to understand exactly what our leader was talking about…
According to the Cambridge Advanced Learner’s Dictionary, synonyms of this word are honesty, uprightness, morality wholeness and unity. It is explained as the quality of being honest and having strong moral principles that you refuse to change.
Research on the history of the word “integrity” revealed that the word stems from the mathematical term “integer”, which simply refers to a status of being unified, complete and consistent.
Whilst thinking of a good example of a famous person who had lived a life of “integrity”, the face of Mother Teresa immediately jumped to mind and then I remembered her famous quote: “I know God won’t give me anything I can’t handle. I just wish He didn’t trust me with so much”.
The mental picture of Mother Teresa took me completely off the definitions of the word and strangely enough, within this context, the word “integrity” now also included a flavour of “servanthood”, although the principle of leadership was unmistakeable.
I realised that “integrity” prolongs leadership and furthermore, it establishes credibility. It provides guidance and it also confirms direction. For us, the challenge probably lies in the fact that “integrity” must be present in all areas of our lives, as people learn more from what we are than from what we say.
Since it appears that our “integrity” is something precious to develop and also to guard, we must decide beforehand never to compromise and never to be corrupted. We must be on guard at all times and we must draw a clear line on the limits of our behaviour.
I believe it is wise to surround ourselves with good people and it is clear that we have no other option that to be fully accountable to one another. It was also Mother Teresa who said “Do not wait for leaders; do it alone, person to person”.
The integrity of Absa Home Loans starts and ends with each and every one of us, in everything we do. Are you ready to become “the best of the best”?
Kind regards,
Jan DavelHead: External Business Initiation
Absa Home Loans
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