Humewood House Prices

To all Property Owners

We have recently conducted some in-depth research on property prices in the Humewood house market and we thought you may be interested to see what we have found.

THESE ARE THE FACTS

  • According to Lightstone deeds office information, since 1 Oct 16, only 5 houses were sold in Humewood for R2.8m or more. 4 of these were guesthouses and 1 was a newly built, modern home.
  • There are currently in excess of 25 Humewood houses for sale over R3m on the Private Property website. Many of these are stale listings (older listings generally fetch below market value) and have been listed with multiple agencies. Open mandates mean no commitment by the agents – The property becomes everyone’s listing and no one’s responsibility.
  • The average sold price for freehold houses is R2 325 000 (during Jan – May 18).

Market value is the price a willing and able buyer will pay to a seller at any given point in time, in a free and open market.

Buyers buy by comparison. They will view many properties (sometimes more than 14) before making their decision. Buyers are well informed about prices, value for money and make comparisons between the different properties before making their decision.

BANK VALUATORS MUST STILL FIND VALUE FOR A BONDABLE SALE TO SUCCEED

Most buyers will need bond finance for their purchase. Part of this process involves the bank sending out their valuators to the property, to advise if the property is worth the price being accepted by the seller. Should they not find value, the bond will not be granted and the sale will not proceed.

Bear in mind that for a buyer to qualify for a R3million bond, they would need to earn in excess of R90 000! The average household income range in Humewood is between R35 000 – R45 000

PLEASE CONSIDER THE FOLLOWING WHEN YOU INTERVIEW AGENTS TO SELL YOUR HOME

  • How did your Agent arrive at the Price?
  • Has your Agent discussed the comparable list of recently sold properties in your area with the prices achieved?
  • Does your property offer the best value for money in the Humewood area? If not, it will not sell.
  • What resources does your Agent have to Market your home?
  • Does your Agent have a growing database of buyers, as a result of the fact that they specialise in the area and     have regular showhouses?
  • Does your Agent have experience selling in Humewood?
  • Does your Agent have a proven track record of sales (not listings) in the Beachfront area?

COMMON MISTAKES SELLERS MAKE

  • To choose an agent who prices their home the highest, rather than based on their track record or ability to market and sell.
  • Price their home above market value in the initial marketing period – which is the most critical time to price it right.
  • Neglect to ask for a marketing plan from the agents they interview.
  • Neglect to check out other properties for sale in the area (the competition).
  • Place the home on the market before it is in the best condition. Fail to give proper viewing opportunities and show house access.

Don’t let your Agent over-inflate the price and lower their commission just to get the Mandate.  This will most certainly cost you more in the end.

If you need to sell and would like an honest, facts-based, market-related valuation, call the Beachfront specialists.
Kind Regards,

Nikki Strooh
Harcourts Beachfront
Mobile: 072 245 6037
Office: 041 583 4034
Email: nikki.strooh@harcourts.co.za
_____________________________________________________________
To view my properties please visit my website: www.harcourtsbeachfront.co.za

 

Calendar of Events

 
2 June:

– Lady’s Slipper Farm Market

– Next to St Albans prison

– 08:00 – 12:00

 

15 June:

– Poolside Yoga

– Boardwalk Hotel & Spa, outdoor/indoor pool

– 08:00

 

24 June:

– Vintage Tea Buffet

– Boardwalk Hotel Lobby Lounge

 

8 July:

– Sunday Roast @ Apron Strings

– Apron Strings Country Restaurant

– 12:00

 

17 July:

– Comedy Night

– The Bru Bar, 161 Heugh rd, Walmer

– 18:00

 

26 July:

– Ladies Night

– Bridgestreet Brewery, 1 Bridge street, Baakens Valley

– 17:00

Con.ect Port Elizabeth Geek Convention

 

4 Aug – 5 Aug

Nelson Mandela University Vodacom Indoor Sport Centre

10:00 – 18:00

 

Women’s Interprovincial Ice Hockey Tournament

09 Aug 2018 – 11 Aug 2018

Baywest Ice Rink

08:00 – 09:00 and 17:30 – 19:00

 

Sundays River Valley Provincial Arts & Culture Festival 2018

13 Aug 2018 – 24 Aug 2018

Sundays River Primary School

09h00 – 17h00

 

Medihelp Nelson Mandela Bay Train Race

19 Aug 2018

Port Elizabeth Station

06:00

 

Town Lodge Business Night Relay

28 Aug 2018

Nelson Mandela Bay Stadium

16:30

Lauren’s best Brownies ever

 

Print

Prep time

5 mins

Cook Time

30 mins

Time to Make It

35 mins

This really is the Best Brownie Recipe ever! These homemade brownies are the perfect chewy fudge squares of chocolate. You’ll never buy a boxed brownie mix again!

Author: Rachel Farnsworth

Yield: 9×9 pan

Ingredients

  • ½ cup + 2 tablespoons salted butter, melted
  • 1 cup granulated sugar
  • 2 large eggs
  • 2 teaspoons vanilla extract
  • ½ cup melted milk chocolate chips
  • ¾ cup all-purpose flour
  • ¼ cup unsweetened cocoa powder
  • ½ teaspoon salt
  • 1 cup milk chocolate chips

Instructions

  1. Preheat oven to 350 degrees F. Line a metal 9×9 pan with parchment paper.
  2. Pour melted butter into a large mixing bowl. Whisk in sugar by hand until smooth, 30 seconds.
  3. Add in eggs and vanilla extract. Whisk 1 minute.
  4. Whisk in melted chocolate until combined and smooth.
  5. Use a rubber spatula to stir in flour, cocoa powder, and salt until just combined. Stir in whole chocolate chips.
  6. Pour into prepared pan and smooth out.
  7. Bake in the preheated oven for 30 minutes. Let cool in pan 30 minutes before slicing.

Notes

METRIC MEASUREMENTS:
141 grams salted butter, melted
207 grams granulated sugar
2 large eggs
12 grams vanilla extract
114 grams melted milk chocolate chips
99 grams all-purpose flour
25 grams unsweetened cocoa powder
175 grams milk chocolate chips

Bake at 176 degrees Celsius

Beachfront Updates by Dean Biddulph

The beachfront has been a hive of activity recently with several high profile sporting events having taken place. Every effort is being made to improve our beachfront offering and to continue cementing our place as the watersports capital of South Africa.  Among the events that have taken place were the SA National Junior and Senior Surf and Still Water Lifesaving Championships which drew competitors from across the country. This is the first time that these events have taken place as a combined event and full credit should go to Craig Van Rooyen and the organising team at Kings Beach Lifesaving for a great event.

It is hoped that the event will become a permanent fixture on the local events calendar. In addition, the city also saw the convening of the SA Youth and Senior National Swimming Championships as well as the SA Hobie Champs and finally (and not least of all) the annual IRONMAN Africa event.

Later in the year, our beachfront community will have the opportunity to welcome the first Ironman 70.3 WORLD CHAMPIONSHIP which will take place in September.

One of the key concerns around the hosting of all events as well as making the beachfront an attractive and enticing offering is the issue of personal and public safety. The local ward councillor and the Beachfront Safety Sector Forum have been working on this and numerous meetings have been convened with the Metro Police Dept as well as Humewood SAPS.

One of the key issues that is being championed is the notion of creating a dedicated Humewood SAPS Beachfront Sector.  I am pleased to inform that questions raised in Bhisho by Bobby Stevenson MPL in this regard have been met with a positive response and that there is both support and an appetite for the formation of such a sector. This will be vigorously pursued with the relevant departments and roleplayers.

The metro police department are also looking at the establishment of a satellite MPD office in the beachfront area and various locations are currently under consideration.

Further afield, the demolition of the Telkom Park facility has been quietly progressing behind the scenes with the recent approval of both the contractor for the demolition along with required environmental approvals having been finalised. The demolition is anticipated to begin before the end of the current financial year in June this year. The future development of this valuable parcel of land is still anticipated to be mixed use commercial/residential and leisure.

All beachfront lighting has been upgraded to energy saving LED lighting, along with the replacement of virtually all pedestrian lighting which has also been replaced with LED fittings. This should greatly improve both lighting and safety in the area.

The firm commitment is to ensure that the beachfront area is continually improved, that the city continues to attract increasing numbers of quality events and that the Summerstrand/beachfront areas remain the premier area of the metro to live, work and play.

Dean Biddulph
Humewood, Port Elizabeth

 

Cyber fraud in the Property Industry – Alice in Cyberland

Cyber fraud is now at the order of the day and is the cause of substantial amounts of money lost by innocent victims. Unfortunately the real estate environment (and the legal fraternity as part of this environment) has been the latest focus.

When a purchaser makes an offer to purchase a property, the standard pre-printed document contains (amongst other things) stipulations regarding when the deposit is due, when the balance is due and when financing should be approved. That same pre-printed document provides space for both parties’ personal details. The sellers names, id numbers, contact telephone numbers, email addresses and existing home loan account number must be furnished.

The purchaser similarly provides personal information and contact details and also where he would be applying for finance.  Once the seller accepts the offer, a valid agreement of sale comes into existence. The agreement is then filed with the estate agency, furnished to the institution which will deal with the financing application, sent to the conveyancing attorney and both parties. All of this personal information is now in cyber space.

This is how you get caught…

The purchaser receives a phone call from someone pretending to be the transferring attorney. He is told that banking details will be sent to him via email in the next couple of minutes. The email is then sent from an address that looks the same as the real conveyancer eg. liesel@greyvvensteins.co.za whereas the correct address is liesel@greyvensteins.co.za.  Very difficult to pick up the spelling error.  In some cases, they actually manage to use the exact same email address.

The banking details will then have Greyvensteins Trust account as the account name, but with a number that belongs to a fraudulent account – usually opened online. Unfortunately the account name and account number are not automatically matched. The purchaser, who is led to believe that the account details are correct as a result  of the account name, then pays the money over. When he is presented with the correct details, the money is long gone and the fraudulent account closed.

It is VITALLY important that no money is ever paid over until you have had the chance to personally verify the transferring attorney’s banking details. Purchaser’s are cautioned to wait for the consultation with the transferring attorney in order for them to present him with the correct pro-forma statement and banking details.

There is no available form of insurance for Attorneys to safeguard clients against cyber fraud, as our professional insurance only covers us in the case of negligence. A payment into a wrong and fraudulent account constitutes negligence on the client’s behalf. What makes matters worse is that in a case where a part of the purchase price has been paid into a fraudulent account, the purchaser remains liable to the seller for payment of the full purchase price.

Things to watch out for:

1)      An e-mail confirming a change in banking details. This should IMMEDIATELY be flagged.

2)      Spelling mistakes in the email.

3)      Urgency in payment request (they will send repeated requests to confirm payment as they need to withdraw               it immediately).

4)      Proof of banking details – ALWAYS check the bank’s stamp. You can usually see it was tampered with.

5)     No payment should be made without official proof of banking details. Not from client to conveyancer nor from

conveyancer to client.

If you are uncertain regarding bank details, please contact your attorney or agent immediately.  Thanks to Liesel Greyvenstein of Greyvensteins Attorneys for supplying this article.

5 Tips for Sellers to make Buyers love your home

Turning home viewers into home buyers could be an art or a science, but either way, home sellers have a lot more control over the process – and the final decision – than they may think.Prospective buyers who are coming to view your home are usually already ‘sold’ on your neighbourhood and price.  You just need to make sure that the property itself lives up to the expectations that have brought them to your door, and turn their hopes that this might be ‘the one’ into reality.

1. Create a sense of space

Moving home is very stressful and the number one reason why most people would even consider doing this, is to have more space, or a different space, to do the things they enjoy or to accommodate a change in family size. This means that you need to show off whatever space you have, and why good estate agents will always suggest that you declutter tables, countertops and cupboards and let in as much light as possible, and to do this preferably before the listing photos are taken.

2. Make a great first impression

There is no bigger disappointment for prospective buyers than arriving at a home that looked great online and finding that it isn’t like that in reality. Kerb appeal is what you need to get them out of the car and into the right frame of mind to really appreciate your home, and the only way to achieve it is to pay attention to detail. This is especially important when the property market is in a slow phase and there are more sellers than buyers. You need to win them over right from the start with fresh outside paintwork, gleaming varnish, a swept driveway, welcoming porch, well-kept garden and shiny, clean windows – whatever it might take to make a favourable first impression on a very important guest.

3. Create a modern look

Dont choose the same colours you used five years ago.  Pick an updated neutral that will complement the architecture and flooring of your home.

4. Clean, check and repair everything

Reasonable buyers won’t expect your home to be in brand-new condition, but they will want to see pride of ownership, so the cleaner it is and the fewer dripping taps there are, the better. In fact, some buyers are so critical that even a minor problem that would only cost a couple of hundred rand to repair can put them off the whole deal. So hire a professional team, if necessary, to give your home a deep clean before you put it on show – and before that, cast a critical eye over every part of the property and fix anything that is not already in perfect working order, from a loose door handle or a cracked window pane to a temperamental garage door or a rusted gutter.

5. Put your security on show

Increased security is the second biggest motivator for people to brave a house move. Therefore excellent and visible security measures are a key attraction, especially in the suburban context. Prospective buyers will be looking for burglar guards and an alarm system at the very least, but if you also have security gates, good outdoor lighting, electric fencing or a CCTV system and other security measures in place, these should be pointed out by your agent.  A home that is obviously well secured will give  prospective buyers a feeling of comfort, and they may even be prepared to pay a premium for it because they will be saving on having to install additional security themselves.

For more ideas on how to display your home so that it has the best possible appeal, ask your Harcourts Beachfront sales consultant.  We know properties.  Call us on 041 583 4034.

 

The Do’s and Dont’s of Rental Deposits

One of the important aspects of a rental agreement is the deposit.

It is important to understand the legal requirements pertaining to rental deposits. The landlord must invest the deposit in an interest-bearing account with a financial institution. The landlord must pay the tenant interest at the rate applicable to such account which may not be less than the rate applicable to a savings account with that institution. The tenant is entitled to ask the landlord to provide him with written proof of the interest that is accruing on the deposit, and the landlord must provide him with such proof. On expiration of the lease, the landlord may apply such deposit and interest the payment of all amounts for which the tenant is liable under the said lease, including the reasonable cost of repairing damage to the dwelling during the lease period and the cost of replacing lost keys. The balance of the deposit and interest, if any, must be refunded to the tenant by the landlord not later than 14 days of restoration of the dwelling to the landlord.

The Act also requires landlords to provide tenants with a receipt for the deposit, which states the date on which the deposit was paid, the amount, the name of the tenant, the address for which the deposit was paid, the type of dwelling (house, flat, cottage), and the landlord’s name and signature.

Another crucial element pertaining to a rental deposit is the inspection of the property.  If an inspection has not been completed, it will severely prejudice the parties respective rights to claim against the deposit (in the case of the landlord) or to have the deposit refunded (in the case of the tenant). It is vital for inspections to be undertaken jointly by both landlord and tenant. This inspection must take place before the tenant takes occupation and again when the lease is due to expire. It is always advisable to formulate a list of defects before taking occupation. Both parties can sign off on this list to prevent disputes when the lease expires. This list should be attached to the lease agreement.

There is also an important procedure that must be followed when repaying the deposit. Once the final inspection has been completed, the landlord must determine if there are any damages. If there is no claim for damage and the tenant does not owe rent or additional charges, the landlord must refund the deposit within seven days of the expiry of the lease. If an amount is owed, the landlord must refund the balance (if any) of the deposit within 14 days.

For more information regarding the proper management of your rental property, call the rental experts, Harcourts Beachfront 041 583 4034.  We know tenants.