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SEEFF BLOUBERG FEATURED AREA: FLAMINGO VLEI

From the Directors Desk Meet Your Flamingo Vlei Area Specialists How Cape Town Avoided Day Zero

Joint Venture: Eric Miles Cheshire Homes 10 Rights Tenants Should Be Aware of When When Renting Samuel Seeff: Time To Get On With Building The Economy And Property Market

MAY ISSUE


TABLE OF CONTENTS Properties For Sale

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4

Joint Venture: Eric Miles Cheshire Home

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We're Recruiting, Join Our Team

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Properties For Sale

18

Directors Choice: Flamingo Vlei

6

Development: C'est La Vie

19

Flamingo Vlei: Then & Now

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Meet Your Flamingo Vlei Area Specialists

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Properties For Sale Meet the Rental Team

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Directors Choice

9

Rental Tribunal Case Study

22

From The Directors Desk

3

Take Our Survey

How Cape Town Avoided Day Zero

10

Properties For Sale

11

Properties For Sale

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Samuel Seeff: Time To Get On With Building The Economy And Property Market

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Properties For Sale

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A Recent Case Study with Velile Tinto Cape Inc.

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INDEX OF PROPERTIES ATLANTIC BEACH|BIG BAY| BLOUBERGRANT|BLOUBERG RISE| BLOUBERG SANDS| BLOUBERGSTRAND|BROOKLYN| DUNYEFONTEIN| FLAMINGO VLEI| LAGOON BEACH|MELKBOS|MILNERTON|MILNERTON RIDGE|PARKLANDS| PARKLANDS NORTH|RUGBY |SUMMER GREENS|SUNNINGDALE |SUNSET BEACH| SUNSET LINKS|TABLE VIEW|VAN RIEBEECKSTRAND|WAVES EDGE| WEST BEACH|WOODBRIDGE ISLAND

10 Rights Tenants Should Be Aware of When When Renting 23 Velile Tinto Cape Inc.: Buying Property? Make sure your Co-ownership Agreement is secure   Our Panel of Attorneys

24 25

Commercial Team

26

Ooba Homeloans

27

Branch Contact Details

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FROM THE DIRECTORS DESK An Area Overview from the Managing Director Given the focus on Flamingo Vlei this month, I felt it appropriate to look a deeper into the sales performance of the area over the last twelve months. The area certainly has produced some interesting stats and may be useful should you consider selling or be selling in the coming months. According to Lightstone, 70% of the current property owners in Flamingo Vlei and 58% of the recent sellers are older than 50. The area seems to be attractive to younger buyers with 81% of the purchasers moving into the area being younger than 50 and more than 50% being younger than 36. This certainly is a complete change in the area’s demographic. Younger home owners are looking for a lifestyle close to all amenities, with something different to offer being the Rietvlei Nature Reserve that borders the suburb. According to Propstats, out of the 41 sales recorded in the last 12 months, only 51% of these purchasers have required bond finance, with 49% of the buyers paying cash for their properties.

Cash 49%

Bond vs Cash

Bond 51%

The average days from listing to selling in Flamingo Vlei is around 73 days, however, when looking at how these buyers were sourced, there is a noticeable shift in the time it takes for a property to sell.

Website 63%

Online vs Other

Other 37%

Whilst the sample size is small, it should be mentioned. that agents in the area are gaining traction in marketing their properties on various platforms and are not solely reliant on Web based advertising. This reiterates the importance of using a reputable agency and agent to expertly invest in a comprehensive and planned, marketing strategy. As 37% of buyers who bought in the area, over the last 12 months, found the property on a platform other than online.

Not only did they find the property from an alternate marketing source, the difference in the time it took for these properties to sell, was quicker. The properties sold through other marketing medium sold, on average, 37 days faster than those sold online. According to Propstats the average days to market is 73 days, however online listed Website 87 sales averaged 87 days and the other sales sources (such as referrals, print media, Days drops and on shows) resulted in an average selling time of 50 Days. It’s not unreasonable to therefore assume that one cannot merely sell property through one medium, but must invest in other marketing reaches to find those buyers…. Perhaps something to consider when listing your property. Ensure the agency and agent have the marketing reach to achieve the best possible price, in the shortest possible time. It seems the other marketing mediums also produced a more favourable selling price. Perhaps something to consider in the coming months…

Clinton Martle, Managing Director Seeff Blouberg

Average Listing Days Sales Source

Other 50 Days


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Flamingo Vlei: Then & Now The Flamingo Vlei area is situated comfortably with Cape Town’s world-famous Table Mountain and one of Cape Towns most important nature reserves in the back-drop, Rietvlei. Rietvlei was once a cattle kraal before it was transformed into a man-made fresh water lake. The Rietvlei was built between 1974 and 1976 by dredging the area and pumping seawater into the pans to create a depth of 9 metres. The effects were irreversible, and a permanent deep-water lake was formed. A new ecological habitat began to grow, and Rietvlei was born. Rietvlei is considered as an important area for water birds and is recognised by Birdlife International. The area was officially given the status of a South African Nature Reserve by the government in 1984. Up to the present, Rietvlei has been considered a Protected Nature Reserve and is managed as such. Over 40 years later Rietvlei is a thriving wetland Nature Reserve with the area of Flamingo an arms-length away. The Vlei is home to over 173 species of birds, during the summer Rietvlei supports an average of 5550 birds. One of South Africa’s biggest seabird rehabilitation non-profit organisations, SANCOB, is located besides the Vlei and treats up to 2500 seabirds a year and 97 000 birds since 1968.

Rietvlei isn’t just home to birds and plant species, the Milnerton Aquatic Club is also a major attraction for the residents of Flamingo Vlei and people all around Cape Town. The Milnerton Aquatic Club has called Rietvlei home since 1976 and has majestic views of Table Mountain for all those enjoying the water sports or just having a picnic. The club is quite active in the community and there are plenty of opportunities for sport and socializing. According to our Seeff Area Specialist Darnel Van Der Spuy,” Flamingo Vlei is a very family orientated area, with low crime rates. For families with school going children there is Table View High School, Table View Primary School, nursery and preprimary schools within close proximity.” Debi Todt, our other experienced Seeff Area Specialist says,” The area offers a retirement village, water park, Buddhist centre, 6 churches, a tennis academy, soccer club, a gym and so much more. The SAPS and MyCiti bus routes are all within 3km. Flamingo Vlei is the ideal place to call home!”.


FLAMINGO VLEI AREA SPECIALISTS With 12 years of real estate experience based in the Blouberg and Flamingo Vlei area. I am a fully licensed Real Estate Specialist and pride myself in my ability to adapt to an everchanging market by using dynamic methods and resolving challenges. By understanding that each client and property is different, I am able to apply my experience and knowledge of market trends to meet the needs of my clients in the shortest time possible. Attention to detail is a key aspect in my approach in building strategic marketing plans, individually designed and specialised to suit my client's needs. I enjoy working with people and getting to know each client personally to provide a tailormade marketing approach. I utilised the back-end systems provided by Seeff to keep up-todate, because my clients are my priority, and if I’m well informed, my clients will be too. Darnel Van Der Spuy 074 588 0825 darnel.vanderspuy@seeff.com

I have completed my Real Estate NQF level 4. I have over four years’ experience in real estate. I was born in Cape Town and lived my whole life in the Blouberg area. I have personally seen the area and market grow into what it is today. Property has always been a passion of mine, even before becoming an estate agent, I would visit show houses on the weekend as a hobby and now I am lucky enough to have my own.   Being a Seeff Area Specialist means I get to offer my clients access to our multiple marketing and information platforms. My clients can have the best strategies formulated for each of their needs. Which keeps myself and my clients happy knowing the information and service I provide are accurate and one of the best in the industry.   I am determined and work extremely hard to achieve my goals and meet my client’s needs. Debi Todt

Achievements: Chairman’s award - October 2018

082 932 8714 debi.todt@seeff.com


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How Cape Town Avoided Day Zero Top tip from The City of Cape Town “The time to save water is when there is water to save!” The dam levels in the Western Cape started declining in 2015 and residents noticed a real crisis was on the horizon mid-2017. When Cape Town’s dam levels fell to 13.5%, the talk of “Day Zero” began. Cape Town was about to become the first major city in the world to run out of water and even the international media showed an interest. Now, halfway through 2019, Cape Town has managed to dodge a major disaster. How did a city come together with no time to spare and save their home?   The first step was the start of gruelling water restriction, applied by The City of Cape Town (COPT) government. Cut back now or there will be nothing later, was the message spread far and wide. By February 2017, level 3B water restrictions were in place, by February 2018, level 6B, limiting water to 50litres per person per day.   But Capetonians came to the party, and the clock counting down today zero on the COCT website kept getting pushed back due to the people following the restrictions given to them and water usage saw a drastic decline. Restaurants, malls and homes shut off their restroom taps offering hand sanitizer to patrons instead. Signs could be seen virtually everywhere, urging people to save water.   Cape Town pulled together, suffered through brown gardens, minimum flushes of toilets, no bathing and quick two-minute showers and even more extreme measures to save their beloved city. The only thing to do now was to pray for the rain to come… and it did. In June 2018 “Day Zero” was postponed indefinitely.   Many factors contributed to the water crisis, but one point came shining through above all others, the residents of Cape Town love their city and worked hard to save her. An example of a modern-day community, where you can be assured your neighbours care about your area as much as you do.


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Much of this year has been characterised by hesitation and waiting on the part of buyers, especially those with discretionary money who have been waiting to see how the elections unfold before putting their confidence back into the property market.

Time To Get On With Building The Economy And Property Market

An essential element of economic and property market growth is confidence, and the country is certainly poised for a return of confidence and economic revival. We now need the commitment and hard work done by President Ramaphosa and the investments to start filtering into the economy. The latest FNB Property Barometer points to a level of stability returning to the market. Despite more people selling for financial and emigration reasons, there is an expectation that buyers will start heading back to the market by midyear, and sellers should be ready to capitalise on that demand.

"It’s time to get back to building the economy and property market. With so much good stock, more motivated sellers, a flat interest rate and positive mortgage lending landscape, there’s every reason for momentum to start building."

At the same time, buying conditions remain favourable. The latest from the economists is that we are likely to see a flat interest rate for the next quarter. The mortgage market also remains positive with Ooba for example reporting that the approval rate is currently trending upwards while the deposit requirements are down year-on-year as competition increases among the banks.

As we enter the last phase of Elections 2019, we look forward to getting it done and dusted as quickly and efficiently as possible so that we can get back to the business of building the economy and property market.

The rental market is currently seeing good demand, fuelled by a combination of affordability pressures driving more people to rent along with many who have decided to rent while they watch and wait for stability to return to the economy.  

That said, agents continue to caution landlords to keep their expectations around rental returns in line with the current market and to focus on sustainability. While we are certainly looking forward to renewed energy in the market as we dust off the uncertainty that has characterised the lead-up to the elections, the market is likely to remain fairly flat this year. As momentum builds and the year unfolds, we could then hopefully start looking forward to a return to real growth next year. "Home is our story, so be sure to start your next chapter with us." Samuel Seeff

SAMUEL SEEFF CHAIRMAN


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A RECENT CASE STUDY WITH VELILE TINTO CAPE INC.

THE IMPORTANCE OF UNDERSTANDING THE SUSPENSIVE AND RESOLUTIVE CONDITIONS OF YOUR OFFER TO PURCHASE We have often found in practice that a fair amount of confusion exists specifically around the inclusion of certain special conditions in an Offer to Purchase. These conditions can be broken up into two main categories, namely suspensive and resolutive conditions.   To put it simply, Suspensive conditions suspend the rights and obligations under a contract until the specific condition is fulfilled, and upon fulfilment the contract is deemed valid and enforceable as from the date it was concluded. A good example of this, is the insertion of the special condition that the offer to purchase is subject to the sale of the Purchasers property. Until the purchaser's property has been sold, the purchaser is not bound to the full terms of the Offer to Purchase, should the purchasers property not sell, the contract will lapse, and both Seller and Purchaser will be placed in the same position, had the contract never been concluded in the first place. This condition is usually easily recognisable with the words “Subject To”. Resolutive conditions operate differently, in that the Offer to Purchase is valid and enforceable from the start. The condition comes into force upon the occurrence of another certain future event, for example, “a waterproofing certificate is to be produced by the Seller on Transfer” once transfer takes place, the certificate must be produced. With both conditions, it is important to ask the “Who, What, Why, When and Where" questions.   We recently received a contract concluded between the Seller and Buyer directly without the assistance of an experienced Property Professional, which included a condition that read simply “Subject to an Engineers Certificate”. No mention was made of what type of engineer, when the certificate was required to be produced, who would pay for it, what the certificate must certify, and what the consequences of any of these questions would be. A disagreement subsequently arose between the parties regarding these very questions, and after much negotiation and compromise by both sides, an agreement was finally reached, and an addendum to the contract drafted to give effect to the true intention of both parties.   It is for this very reason that Sellers and Purchasers are encouraged to make use of the vast wealth of knowledge and experience available to them through their local Property Professionals and Conveyancers, who are well trained to ask the questions that need to be asked, and to ensure a smooth and stress free transaction.

Adam Cox Senior Associate Velile Tinto Cape Inc.


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Joint Venture:

Eric Miles Cheshire Home From July 2018, Rebecca Lourens began using the support of Seeff Blouberg to help promote Eric Miles Cheshire Homes and the outpour of support was phenomenal. The first event was a bingo evening, where Seeff Blouberg reached out to sponsors for prizes and Ooba Homeloans, VTC, Roberts Incorporated, Miltons Matsemala and STBB came back to us with great enthusiasm. The event raised R13 000 for the Home and was a massive success, and all who contributed could feel proud of.

Eric Miles Cheshire Home is a residential facility in the Milnerton area which enables adults with physical disabilities to function in the community by giving them assistance. It is an environment which enables them to acquire skills, develop confidence and provides attractive accommodation in a homely atmosphere.

The residents are from all walks of life and their disabilities result from a number of causes. Eric Miles Cheshire Home accommodates 45 people with full care, assisted living as well as independent living. Each person is valued as a unique valuable individual, whatever their disability.Â

Rebecca and Seeff Blouberg initiated drive-drops and appealed to clients to drop off clothes and other items to the bric-a-brac charity shops the Home manages. The response was slow to start, but today the Home attributes R20 000 of extra monthly sales in their charity shops due to Seeff Blouberg's support, as the agents are consistently reminding their clients to contribute. Rebecca still continues to work tirelessly on behalf of Eric Miles Cheshire Home with another successful bingo evening held in April and planning for forthcoming events has already begun. 

Seeff Blouberg is proud to support Eric Miles Cheshire Home, follow us on our social media pages, for upcoming charity events. Call Rebecca Lourens on 079 133 7790 for more information.

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MEET OUR RENTAL TEAM

Ashleigh Barsby

Sharon Basson

Pinky Mathebula Rental Manager Nancy Oeschger

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Angelique Steenkamp

Cheryl-Ann Bloor

Ina Du Preez

Gina Walsh


Rental Tribunal Case: Exorbitant Rental Increase

An elderly social housing tenant was informed that his rental increase from 2010 would be backdated at the inflation rate leading to him winning the case at the tribunal due to this being against the rental housing act. The 59-year-old failed to pay his exorbitant rental over several years which lead to his landlord attempting to evict him and his family. The Western Cape Housing tribunal ruled that the rental increases for 2011 (47%), 2012 (27%), 2013 (17%) and 2014 onwards at 10% were exorbitant and ruled that increases should not be backdated and should be based on the consumer price index inflation rate from 2010 onward. In accordance with the rental housing act, the Tribunal may make any other ruling that is just and fair to terminate any unfair practice including exploitative rentals. The landlord is entitled to a realistic return on investment but not to exploit the tenant with exorbitant increases.  The unfair practices regulation also states that the landlord must give a tenant at least 2 months written notice of an intention to increase rental. We advise our landlords that in the current market it is best to keep a good paying tenant who maintains the property instead of increasing the rental to high and potentially losing the tenant and having the risk of the property being vacant.   In the current market, the escalation that we recommend to our landlords is between 6 %–8%.  Tenants need to be made aware of the cost of owning a property and cannot expect to rent the property at the same price year-on-year. It is always best to have both parties interests at heart and ensure that all parties feel the escalation is fair.

Nancy Oseschger Rental Manager Seeff Blouberg


10 Rights Tenants Should be Aware of When Renting 1.   

Read the Lease Agreement carefully. Don’t ever feel pressured into signing the lease agreement if you need more time.  Making sure you understand your lease is fundamental.

2.

The landlord may not increase the rent during the fixed term period.

3.       The landlord is responsible for up keep and repair to the premises the tenant is leasing. 4.       Your landlord’s insurance will only cover the building not its contents. Insuring your belongings is still your responsibility.

5.       A landlord may not cut the utilities to the dwelling e.g. Electricity

6.       A landlord may not lock a tenant out of a property. 7.      Make sure you get the ‘YES’ in writing from your landlord before making changes to the property, remember, this is not entirely your property. 8.

By law, a landlord can’t just drop by and let him or herself into the property.

9.       It is a criminal offense for a landlord not to pay the tenants deposits back with any interest it has accumulated subject to both parties signing off on the outgoing inspection.

10.   The landlord cannot use the deposit to upgrade the property when the tenant vacates the property.


Velile Tinto Cape Inc. Buying Property? Make sure your Co-ownership Agreement is secure Buying property; whether for personal, investment or business purposes, remains a stressful exercise. Co-ownership? Property price, transfer costs, deposits & maintenance. As a result of the increase in price of properties and difficulty to raise the costs involved with maintaining and attaining a property; such as transfer costs, deposit and maintenance, many people are seeking to share some of the responsibility and financial exposure with another person/s. Individuals opt to partner with another person to jointly buy a property, essentially co-owning the property. In this situation, neither of the 50/50 co-owners have overriding decision-making authority: The Importance of your Co-ownership

hence a potential stalemate; but further than that, in this stalemate there is no prior

Agreement

agreement on how the parties will resolve any disputes which arise between them.

It is important to enter into a co-ownership agreement before the purchase of a property. The co-owners have to appreciate that they do not exercise the same freedom over the property as they would if they were the sole owner of the property. The co-ownership agreement helps provide clarity on the rights, obligations and scope of each co-owner.

An extensive co-ownership agreement will assist co-owners who find themselves in such a position. Important elements to cover in the agreement would be: -The shares each party owns in the property -Financial contributions to the loan repayment -Maintenance and upkeep costs of the property -Distribution of any profit -Management of the bank account -Arrangements regarding the renting or selling of the property, pre-emptive rights to buy the property etc.

For example, unless the parties have entered into a prior agreement, transfer will automatically be given to the co-owners in equal shares.

-A breakdown of the relationship between the parties -Death or incapacity of one of the parties -Dispute resolution options before issuing summons -Termination of the agreement

“It is best to make use of the experience and expertise of an Attorney proficient in these types of transactions to alert you to the potential risks and benefits of these contracts, and to help you ask the right questions�

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Velile Tinto Cape Inc.

Tel: 021 202 5729

Visit: www.veliletintocape.co.za


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