Free Property Valuation

TokaiObtaining a property valuation is an essential step when thinking of selling but for other purposes too such as estate planning, insurance purposes and to keep up with your asset values.  So even if your move is not imminent, a house valuation still proves an excellent tool for indicating current market value, and possible room for improvements to increase the value of your home.

An online house valuation is a useful tool to get a quick and easy estimate of the actual price of your property.

By answering a few easy questions on the current condition of your home in Tokai, our complimentary property value calculator, using the latest GIS (Geographical Information System) will provide you with an indication of how much money you could potentially make from the sale of your home if you are intending to sell or for the other purposes indicated above.

A feature unique to Valuator provides references to recent final property sales in selected Cape Town Metropolitan Areas, which have yet to be recorded in the Deeds Office. This value added feature ensures that our reports are reliable and up-to-date.Green buttonValuator is a service provided by: HOMEimage.

*HOMEimage is not an estate agency and offers specialised marketing solutions to property developers, hospitality industry, private property sellers and agents, such as 3D models, floor plans, virtual tours, professional photography, drone aerial photography, property marketing materials, and project management.

Give Away | Property Power

property powerProperty Power is giving away 10 copies of the 11th edition of ‘Property Power in South Africa’. To be entered into this draw subscribe to our Tokai blog. Winners will be announced on the Friday 26 February 2016 on our blog.

Buying or selling a home as well as moving, can be one of the most stressful experiences in your life, even more so if you are not properly informed, and it is probably one of the most important investments you will make. You need to understand your rights and obligations and learn to take control of the process.

Property and its wealth creating power is not an exact science, but a very complex industry, in which most of us share an interest. Property Power is designed to empower home buyers, home sellers, first-time property investors and owner-builders/renovators with knowledge regarding important aspects of purchasing and selling immovable residential property.

Too many people run into financial difficulty and have to live with disappointments after making hasty decisions and not taking control of their property transactions. Property Power is a magazine (including an interactive PC CD-Rom) in which we cover the most important facts with regard to property transactions as comprehensively as possible, while keeping it simple, user-friendly and easy to read.

If you missed out on the previous editions, don’t despair. Each year, after the Minister of Finance announces the new Budget, we update Property Power and release a new edition. Everything discussed in the previous edition is simply revised and modified to the latest developments, figures and legislation in the market and newly researched material is added.

Updated Information
Property Power is updated and published regularly. You can visit our website at any time to make sure that you have the latest edition and that you are not missing out on any new information, like amendments to certain acts, or changes in the interest rate, budget speech, and so on. We endeavor to update Property Power at least once a year, however sometimes an edition may be relevant for two years.

Read more

New Tokai Partnership

Bruce Haywood and Lisa Rowell have joined forces!

Combining their specialist knowledge and a wealth of experience to bring both a fresh energy and their service driven benefits to Tokai where they are both residents.

Working from the prominent Chas Everitt Office on Tokai Road right opposite the Blue Route Mall, they are ideally positioned to attract walk in buyers.  And with their fingers firmly on the pulse of community happenings via the many social media blogs they both co-sponsor, not to mention state of the property market intelligence, they justifiably claim specialist knowledge of the area and what’s happening with house sales.

Alongside the blogs, they also sponsor the Community Directory which is a Google search optimized directory of small businesses, owned and operated by residents of the Southern Suburbs.  Give them a call for details for this FREE service.

Available ’24/7′ please do not hesitate to give Bruce and Lisa a call for any property related issue.

Lisa & Bruce

Lisa Rowell
082 844 0800
lisa@everitt.co.za
Bruce Haywood
082 555 6810
bruce@everitt.co.za

Tokai Property Snapshot

Tokai Property Snapshot – Sales and Trends for 2014 vs 2015

Table of Comparison: 2014 vs 2015

2014

2015

Total number of Sales

56

45

Total Rand value

R177,290,000.00

R153,825,000.00

Average Asking Price

R3,396,166.00

R3,360,333.31

Average Selling Price

R3,165,892.00

R3,418,333.33

Av negotiated down by buyers

-6.12%

-5.28%

Average Days on Market

39

31

Steady and fairly consistent results again for the suburb of Tokai.

Although there were 9 fewer sales, the average selling price was up by about 7.97%.

Buyers only managed to negotiate an average of -5.28% off asking prices this year compared to -6.12% last year. Gone are the days of immediately knocking 10% off asking prices.

Days on market, typically driven by asking price, remained fairly similar at 39 and 31 respectively.

It’s interesting from an Estate Agent’s point of view to see the changing trends in buyer sources.  Showhouses and Newspaper Advertising were King but stats tell the tale of their decline.  Showhouses;  only 11 in 2014 and a meagre 4 in 2015 yielded buyers.  Newspaper Advertising;  only 3 in 2014 and 2 in 2014.  Security concerns and ever more pressure to make the most of off time can be ascribed as reasons for fewer Showhouses, and of course the exponential improvement in form and functionality of property web portals will definitely impact on the cost-effectiveness of Newspaper Adverts.

There’s no doubt that fascinating times lie ahead with the threat of further interest rate increases ever present.  Real Estate activity will continue to be suppressed with pressure from banks keeping would-be first time homeowners in the rental market and with the continuing low stock situation, would-be sellers have little choice to tempt them into new investment.

Whatever lies ahead you can rely on our Tokai area specialist, Lisa Rowell, to be at your call for any property related advice.

With another round of municipal valuations on the cards in 2016, Lisa Rowell  – 082 844 0800 will be more than happy to provide free, no obligation and confidential evaluation so you can see what your home might be worth in today’s market.

(All figures sourced from Propstats for the suburbs of Tokai and The Hamlets, excluding Sectional Title and Lifestyle Estates.)

Interest Rate Increase

Attention Tokai homeowners and house hunters! Last week’s news about the interest rate hike came as a bit of a surprise to a majority of the experts and commentators.  Herewith the implications in a nutshell:

  • Prime has gone from 9.5% to 9.75%.
  • Existing homeowners with bonds:  an increase of about R17 a month per R100 000 of their bond value – or R131 on a bond of R800 000 (the average bond value in SA according to BetterLife Home Loans).
  • Prospective first-time buyers:  household income requirement for the average first-time loan will rise by some R350 a month now to around R19 420.
  • Banks’ lending criteria:  will tighten further on net surplus income to ensure leeway for debt repayment in the face of increasing costs of food, medical and utility costs, and the installments on cars, credit cards and other debts.
  • Affect on the real estate market:  buying activity may start to slow down somewhat now, especially among first-time buyers who are the most credit dependent.

What should you do?  Save for a bigger cash deposit which will assist loan qualification and also help to reduce home loan installments.

Get pre-qualified!  Look at your finances in the cold light of day so you know what you can afford before you fall in love with a new home.

Tokai Property Snapshot

Tokai Property Snapshot – 3rd Quarter 2014 vs 2015:

There is not a huge difference in property statistics but interesting nonetheless.  There were 11 sales for a total of R37,340,000 in 2014 and 13 sales for a total of R48,305,000 in 2015.  So the extra two sales brought in nearly R11 million more, quite a high average, but not reflecting reality.  The average sale price for 2014 was R3,183,636 – buyers having negotiated an average of -5.65% off the asking price, whilst in 2015 it is R3,499,615, dropping an average of -5.32% off asking prices.

Average days on market also fairly similar at 14 days last year and 18 this year. A recent article on Property24 states: “The slowing economy is starting to bite into the residential property market with sales and transfers dropping 7.1% in the third quarter of 2015 compared to the previous quarter.”  Obviously the writer is analysing stats for the whole of South Africa so it is understandable that the microcosm of Tokai would not look the same.

However it has to be said that in spite of this apparent decline, all things property are still looking pretty rosy in our neck of the woods.

Are you interested to know what your house is worth in today’s market?  Call Lisa Rowell on
082 844 0800 for a hassle-free, no strings, confidential evaluation and find out.

Tokai Property Snapshot – 3rd Quarter  2014 vs 2015
Detail 2014 2015
Total number of sales 11 13
Total value of sales 37,340,000 48,305,000
Average selling price 3,183,636 3,499,615
Average difference in ssking price -5.65% -5.32%
Average days on the market 14 18
(Source: Propstats, Tokai only – excl Lifestyle Estates and Zwaanswyk)

Tokai Property Snapshot

What happened in The Hamlets this winter compared to last year, property-wise?

Good question and there is an interesting answer if one analyses the sales for the two periods, i.e. 1 June – 1 September 2014 vs 2015, as reported on Propstats.

2014

2015

Total number of sales

15

9

Total value of sales

R16,886,500.00

R13,140,000.00

Average selling price

R1,125,767.00

R1,460,000.00

Differential asking vs sale price

-4.16%

-5.25%

Average days on market

36.75

15.11

 

PropertyAnaylsisSo the main differences are that there were 60% more sales for the same period last year, but the average selling price increased by R334,233.00 and the number of days on market more than halved in 2015.  This can only mean we are still firmly in a sellers market cycle and if you are even remotely thinking of selling, your home could be worth more than you think.  The Hamlets is eternally popular with first time buyers or those wanting to scale down, so there’s no shortage of people queuing to get in.  But the secret is knowing who wants to sell!

What is your home worth in today’s buoyant market?  Ask me for a free, no obligation, confidential evaluation and find out. Lisa Rowell, Tokai Specialist for Chas Everitt, 082 844 0800, 021 712 5029, lisa@everitt.co.za.

Family Living in Tokai

01Leafy lanes, access to green belts, good schools, dog-walking, community spirit, active neighbourhood watch and general all round feel good factor, Tokai ticks all the boxes!
Positioned in desirable Dennendal this family home offers all the lifestyle versatility you could possibly need. Read more about this four bedroom Tokai property for sale.

Contact Lisa Rowell on 082 844 0800 or email lisa@everitt.co.za for additional queries.

 

The market is a lot warmer than the weather!

TokaiWe would like to share why, in this cold weather, we believe there is a very hot opportunity to put your property on the market right now!
Price is largely determined by supply and demand, and right now we have a substantial number of good buyers and there is not a lot to show them.  Many buyers are frustrated with what is on offer and many sellers we are working with hold an opinion that it would be better to wait until Spring to start marketing.

Think about it!  Right now your property will be competing with fewer other properties on the market for the attention of buyers.  This is a huge marketing advantage in trying to secure a sale at the best possible price.

Should the buyer require finance, our friends in the home loan business confirm that banks are currently inclined to be a little more lenient, as there are fewer transactions.   Right now is the optimum time of the year to secure the financing needed to secure the sale.  Add to this, the market is generally expecting interest rates to move higher later in the year.

If you would like to take advantage of marketing your property right now, please give us a call

Tokai Area Specialist
Lisa Rowell
021 712 5029
0828440800
lisa@everitt.co.za

 

Tokai Property Snapshot

  2nd Quarter 2014 verses 2015
Total number of sales 15 14
Total Rand value 46,720,000.00 49,695,000.00
Average selling price 3,114,667.00 3,549,643.00
Average difference to asking price -6.5% -7.14%
Average days on the market 50 28


property inflationWith one less sale than for the same period last year, 2015’s Tokai performance looks quite rosy!

The total Rand value is up, the average selling price is up by R434,976, but the average difference between asking and selling price is almost .5% higher.

The biggest difference is number of days on market, houses have taken almost half the time to sell this year.

What does the market hold for the rest of the year?  No-one really knows, but with weak economic growth, the threat of rising interest rates and electricity costs, the property market is sure to be under pressure for the last six months of 2015.

What is your home worth in today’s vibrant seller’s market?  Are you interested in receiving a free evaluation?  Call Tokai Property Specialist Lisa Rowell on 082 844 0800 for any property related advice you may need.

Source: Propstats