News from Dormehl Property Group

It’s hard to believe that only a few weeks ago you received the first edition of our newsletter. When you are in the property industry time doesn’t stand still. No doubt about it. In the end it all adds up in making the real estate industry the most interesting place to be in at all times.

Someone once said that essentially stupid people made stupid loans to stupid people. My question to you with this edition, is it stupid to be in the property industry? My answer is no. Property stays one of the best investments. Not only that, your property is your home or your castle. It’s the place where you centre your life and for some of us the place where we raise our family. Best of all it’s yours to keep. Yours to do whatever you want to do with it.

The debate should rather be, when is it the right time to buy. Property is seen as a long term investment where the return on investment can be very significant therefore it’s important to buy at the right price. I do believe that the right time is now as the property industry is showing signs of recovery;

The latest statistics released by ooba, South Africa’s leading bond origination company, reveal that the recovery in house prices continued year-on-year in March with above inflation growth. The oobarometer price index recorded a year-on-year nominal price increase of 9.7% to R850 864 from R775 559, a slight deceleration from the 11.4% year-on-year price growth recorded in February. oobarometer shows housing market is well into positive growth

If you are looking to purchase a property make sure that you contact one of our highly qualified agents still today!

In this addition advice comes from Heather Downs of Shepstone & Wylie Attorneys' property department. “Savings in commission are an incentive to sell a home privately but the decision of whether or not to use an estate agent should be carefully considered.” Private versus Agent

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The Editor

News

News from the editor

Private versus Agent

Savings in commission are an incentive to sell a home privately but the decision of whether or not to use an estate agent should be carefully considered.

This advice comes from Heather Downs of Shepstone & Wylie Attorneys' property department...

oobarometer shows housing market is well into positive growth

The latest statistics released by ooba, South Africa’s leading bond origination company, reveal that the recovery in house prices continued year-on-year in March with above inflation growth...

Market News

Change in target market

Owen Dormehl, CEO of Dormehl Property Group said “The FNB synopsis is quiet correct. Estate Agents must now recognize that their target market has changed considerably from the traditional white middle-class families to now be the upwardly mobile black families...

Tourists bowled over by new airport

A group of 70 German tourists were among the first international visitors to use Durban's new R7,2-billion King Shaka International Airport, when they arrived at the airport on Sunday to be greeted by a colourful dance group of Zulu women...

Concerns about reverse mortgages

There has been an increase in the number of financially hard-hit pensioners applying for reverse mortgages on their homes, say financial advisers.

This kind of home loan is offered only to the country's cash-strapped senior citizens who have houses with high values and no mortgage debt. They can either repay the loan while alive or leave the debt to be recovered from the estate...

Helpful hints - Insurance

Owen Dormehl, CEO of Dormehl Property Group says “It is vital to remember when insuring freehold residential property to always include the value of all boundary walls if erected on the subject property plus the driveway and the swimming pool if applicable as these items are often overlooked by owners. They are all improvements to the property and their replacement cost must be added to the replacement cost of the main dwelling and outbuildings to guard against the owner being under-insured in the event of a claim for damages caused to either the main dwelling or the periphery improvements. It must also be remembered that most policies do not cover damage that has been specifically caused by subsidence although subsidence-cover is usually obtainable at an additional premium but often only after first obtaining a geotechnical engineers report pertaining to the specific property.”

CEO's pick of the month

Stunning new development in Westville!

Idyllic Bali-styled homes with magnificent views of both nature and ocean, ideal for the Entertainer, the Executive or the family man! Upon entering these unique freehold units, one cannot but marvel at the excellent build and design of these homes, featuring rock cladding, modern elegant fittings, wood and glass surrounds and the dominant setting ‘on a ridge’! Homes vary in size, from 216 m² to 239 m² and with 3 or 4 bedrooms, 2 bathrooms, 2 lounges and the rest! But don’t take my word for it …. Call me NOW! This is a dream come true!

Owen Dormehl
Cell : 082 654 0024
Email : owendormehl@dpgprop.co.za

Nikki Roux
Cell : 072 015 3093
Email: nikkiroux@dpgprop.co.za

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