Neighbourhood CT - 10 November 2019

Neighbourhood 10 NOVEMBER 2019

PROPERTY & LIFESTYLE

Your heart’s desire Arguably the most sought-after area in which to own a property in the country, the Atlantic Seaboard makes good on all its promises, page 8

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FREE CHOICE WHISKY

yourneighbourhood.co.za

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BUY SMART

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SUBURB FOCUS: ATLANTIC SEABOARD

Connecting homeowners with great communities

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SELLING SECRETS

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NEWS & LIFESTYLE

10 NOVEMBER 2019

Editor’s exclusive CARLA REDELINGHUYS

In your hood:

Neighbourhood

Cape Town & Joburg

Craigellachie | craigellachie.com/za/en

Shake it all night long

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armer weather is upon us and bespoke mixer company Fitch & Leedes is ready to take your summer nights from amazing to next-level with their recently introduced grapefruitflavoured tonic. (Living Coral is, after all, the Pantone Colour of 2019, so this mixer is bang on trend.)

A wee dram of history Craigellachie will be pouring their last bottles of a rare 51-year-old single malt in South Africa this month, and it’s all for free. But you’ll need to be quick if you want to stand a chance of enjoying a taste.

WORDS: RICHARD HOLMES

IMAGES: SUPPLIED

“This whisky was distilled on 22 December 1962, laid into a refilled bourbon hogshead (a 250-litre barrel) and then set to watch five decades of history pass it by,” explains Georgie Bell, global malts ambassador for Craigellachie, and a member of The Worshipful Company of Distillers.

The good people at F&L gave us some slightly out-of-the-ordinary recipes to try:

When the barrel was discovered in the maturation sheds in August 2014, a half century of the “angel’s share” – the romantic term for evaporation from the barrel – meant just 51 bottles remained. And while it would’ve been easy to pour it into fancy crystal decanters and auction them off to the highest bidder, the traditions of Speyside suggested a better use for it.

Six Dogs Karoo Gin Ingredients: • Six Dogs Karoo Gin • Fitch & Leedes Grapefruit Tonic • 1 red chilli • 1 lime • Tabasco • simple syrup (optional) Here’s how: In a cocktail shaker filled with ice, combine half a red chilli, juice of one lime, one splash of Tabasco, one part simple syrup, and one part Six Dogs Karoo. Shake well and pour into a glass filled with ice. Top with tonic and garnish with sliced red chillies.

“Scotch whisky is about clinking glasses and enjoyment,” says Georgie. “This whisky was distilled to be drunk, not hidden away. So nobody’s getting a bottle of it, and it’s being given away dram by dram around the world.”

That’s been happening in “Bar 51” pop-ups, which launched in London in November last year before moving on to New York and Australia. Joburg (20 to 21 November, Whisky Brother Bar, Morningside) and Cape Town (26 to 27 November, Athletic Club and Social, CBD) are the final stops, and your last chance to taste this rare malt.

Leonista Blanco Ingredients: • Leonista Blanco • Fitch & Leedes Grapefruit Tonic • 1 lime • ginger syrup • red wine salt Here’s how: Prepare a glass with a red wine salt rim.

In a shaker with ice, combine one part Leonista Blanco, juice of half a lime, and ½ part ginger syrup. Shake well and pour into the rimmed glass over ice. Top with tonic and garnish with slices of fresh ginger.

Except for a few bottles locked away in the distillery’s archive, “in Cape Town, we’ll be pouring the very last dram of the last bottle of Craigellachie 51.

And it’s all for free”, says Georgie.

Alongside a dram of the Craigellachie 51, guests will also be among the first in the country to sample the Craigellachie 13- and 17-year-old single malts from the distillery.

Triple Three African Botanical Gin Ingredients: • Triple Three African Botanical Gin • Fitch & Leedes Grapefruit Tonic • rose water • pink peppercorns • rose petals • 1 lemon

But there’s a catch: to secure a seat at Bar 51 – just 96 double tickets are available – you’ll need to enter the online draw today, as entries close at midnight on 10 November.

Visit craigellachie.com/za/en.

Here’s how: In a glass filled with ice, combine one part Triple Three Gin, a splash of rose water and ½ part lemon juice.

Top with tonic and garnish with rose petals and pink peppercorns.

PUBLISHED BY TIMES MEDIA PROPERTY PUBLISHING

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peyside distillery Craigellachie is marking its entry onto South African shelves in a rather unusual way: they’re giving some of it away for free. And this isn’t any old single malt, but the Craigellachie 51-year-old, that flowed from the stills back when JFK was president of the United States.

Craigellachie Distillery was founded in 1891 in the village of the same name, at the confluence of the River Fiddich and the River Spey. Craigellachie means ‘craggy rock’.

EDITORIAL TEAM:

ADVERTISING SALES:

Group Editor: Carla Redelinghuys carla@yourneighbourhood.co.za Senior Sub-Editor: Marana Brand Designers: Anja Bramley & Samantha Durand Visit yourneighbourhood.co.za

Call us for advertising opportunities on 087 828 0423 Production (Editorial & Property Advertising): Lucea Goosen capetown@yourneighbourhood.co.za Online coordinator: Chantelle Balsdon chantelle@augmentcreative.com

10 NOVEMBER 2019

Neighbourhood

In your hood:

NEWS & LIFESTYLE

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Cape Town CBD

Starlings at Labotessa | 021 010 6600 | labotessa.com/restaurant Kleinsky’s | 082 583 4162 | kleinskys.co.za Bread Milk and Honey | 021 461 8425 | breadmilkhoney.co.za

Fyn | 021 286 2733 | fynrestaurant.com Pilcrow & Cleaver | 064 301 6328 | Facebook: @pilcrowandcleaver

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t the heart of historic Cape Town, with heritage buildings including Speakers Corner, The Slave Lodge and the Groote Kerk, Church Square has up till recently been a place to stroll through on your way somewhere else, but that’s now changing. The quiet, sunny public space is attracting a variety of inviting new eateries that make Church Square a destination in itself.

Starlings at Labotessa

Get me to the Church (Square) on time Five good food reasons to make this popular Cape Town square your lunch-time hangout WORDS: KIT HEATHCOCK

IMAGES: SUPPLIED & KIT HEATHCOCK

Yes, it’s an outpost of your favourite Claremont cafe, migrated to the city, as the in-house eatery of chic new boutique hotel Labotessa. In a sliver of heritage building with tables spilling onto the square, surrounded by trees and pot plants that echo the garden flavour of the original, Starlings is a charming refuge to escape the office for an affordable coffee, all-day breakfast, luscious lunch wraps and more.

Kleinsky’s

It’s almost two years since the muchloved Sea Point bagel eatery opened its second branch on the Parliament Street side of Church Square. A busy lunch stop for eat-in and takeaways, you can enjoy a sumptuous freshlyfilled bagel with a view of the square

at an inside table, or outside at their sheltered courtyard bench tables.

Bread Milk and Honey

An old family-run favourite famous for its baked goods and fresh harvest table, as well as coffee, salads and sandwiches, Bread, Milk and Honey is on the Spin Street side of the square.

Eat inside where there are plenty of tables at the back, or at one of the pavement tables looking through the leafy street trees to the square.

Fyn

If you can afford to splash out, lift your eyes to the rooftop of the Speakers Corner building where Fyn rocks the urban fine-dining vibe with superb Asian-inspired menus and birds-eye views over the square to Lion’s Head.

Dishes arrive in groups beautifully presented on kaiseki trays, so the taste journey can easily be fast-tracked into a manageable lunch break.

Pilcrow & Cleaver

Opening mid-December next door to Kleinsky’s, for breakfast, lunch and dinner, chef Judi Fourie is planning a brand-new contemporary eating concept, with a retail space for collectible cookbooks and more.

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PROPERTY NEWS

10 NOVEMBER 2019

Neighbourhood

Grow and multiply You can make your investment work smartly by remortgaging cleverly or growing your property portfolio by using only one bond. Here’s how.

WORDS: MIRIAM MANNAK

IMAGES: SHUTTERSTOCK

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esidential property is regarded as the Holy Grail of investment.

But how can buyers make their purchase work for them financially to make the most of their investment?

Clever bond financing

Investors can eventually buy two low- to medium-cost properties with one bond while keeping repayments low and paying off the mortgage quicker, says Just Property Invest sales manager Pieter Piek.

He says a R1m flexi or access bond typically involves repayments of about R9,800 a month for 20 years.

However, a paying tenant in your property can change this. If their rental income covers the bond repayments, you could increase your payments by R5,000. “The bond will be paid off in less than half the time,” says Piek.

Because flexi or access bonds allow you to withdraw money, you could take out the excess after five years to buy a second property at R500,000 without a new bond. Piek says this unit should achieve a rental income of R4,500, to be put towards your original bond. “This means you now have two properties paying off one bond and you still have 15 years left in which to pay it off.”

Save, save, save

Put bonuses, 13th cheques, tax rebates and other windfalls into your bond.

“This allows you to pay back more than just your monthly repayment rate,” says Mike Greeff, CEO, Greeff Christie’s International Real Estate in SA. “The increased payment paired with any potential cash injections could cut your bond period by up to five years.”

Defaulting on payments negatively impacts on your credit score and opens the door to added interest and potential charges on returned debits, Greeff warns.

Remortgage, don’t sell

While it may seem attractive to sell a home that is appreciating fast, capital gains tax payments on the profit need to be considered. Remortgaging your home or using your property’s higher value to obtain a larger mortgage, may be a better alternative.

“This is called releasing equity,” says IP Global head of Africa George Radford.

“This lump sum can be used to diversify a portfolio or invest in new properties in different markets to mitigate risk – each with their own mortgage.”

Beware of a bargain

A bargain may become a rip-off due to unforeseen renovation bills, which can impact on bond repayments. Piek’s advice is to buy newer units. “You might pay a little more but you’re getting new geysers and know that the plumbing and wiring have been done recently.”

QUESTIONS TO ASK BEFORE SIGNING • Buying property to let requires an investor’s mindset free of emotion.

The perfect investment location is an area with high rental demand and may not be your own preferred location.

• The low- to mid-end market has a higher demand for rentals than the upper end. Entry-level residential properties almost always appreciate in value faster.

• Set up an emergency fund for unexpected costs not covered by insurance.

• When purchasing to let, calculate the potential yield of the property (the annual rental income minus expenses, divided by the price of the property) and compare it to the yield of other rental properties in the area.

• Do a comparative marketing analysis of the area. Make sure your rental income covers your monthly repayments and that you can afford potential shortfalls.

• Find an experienced management agent to find the right property, an approved tenant, manage rent collections, and take on maintenance issues.

• Be aware of all legal aspects and capital tax implications.

Source: Maryke Beyers, property investor consultant and attorney

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PROPERTY NEWS

10 NOVEMBER 2019

Neighbourhood

New-generation retirement development to be launched in Century City

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he tremendous success of Oasis Luxury Resort, where all 375 apartments were sold ahead of completion, was an indication of Century City’s potential as a soughtafter retirement address. Residents praise the lifestyle they enjoy – a perfect blend of modern comforts with the serenity and easy access to nature.

Oasis Life Century City will rise along the water’s edge of the old Ratanga Junction site, a unique design and lifestyle retirement offering that stands tall and proud as a series of four residential towers that forms a wonderful bookend to the southern boundary of the newly-designed Ratanga Waterfront precinct.

The choice of location was well considered to ensure that due to its scale, the development would have optimum orientation and views facing north over the reimagined

and rehabilitated Ratanga Park that it will overlook. The new large body of water will connect to the extensive network of existing canals that flow throughout Century City.

Residents will be able to enjoy the lush greenery of the gardens around Oasis Life, which meet the banks of the water. Smaller islands and a large new green park will be visible across the water, which will include additional habitats for the exceptional bird life that’s already established in Century City, as well as a new recreational destination for residents and visitors.

Phase one, with construction commencing next year, will consist of 62 luxury apartments ranging between 81m2 to 165m2, and one-, two- and three-bedroom options. Each apartment will have a north-facing balcony which will be partly screened for privacy and wind protection.

Public, private sector must collaborate in face of Joburg water crisis

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ith the ongoing heat wave pushing water consumption to a record high, the City of Johannesburg has implemented Stage 2 water restrictions. The situation is exacerbated by falling dam levels due to low rainfall, and a planned shutdown of the Lesotho Highlands Water Project (LHWP) tunnel system for inspection and maintenance.

“We need to educate people. Cape Town had a water crisis, its experience and successes must be shared, and the public made aware of,” Hanine van Deventer, senior engineer: water, Africa, at infrastructure delivery company AECOM comments. “It’s a case where public and private entities need to collaborate to better manage water, a precious commodity, and serve the ever-growing population so as to promote economic growth.”

Private property owners can become more resilient against waterstress conditions by reviewing their commercial and insurance obligations in terms of maintaining water supply; reducing their overall water dependency and consumption; familiarising themselves with the national and provincial legislation, regulations, and restrictions in terms of water use, and the development of alternative water sources and systems; engaging with their local water service authority (WSA) on the local application and management of the national mandates according to local bylaws, restrictions, and standards; and even considering local private-public partnerships in developing alternative water sources.

expedite procedures to establish a realistic and viable resilience plan,” Van Deventer argues.

WSAs also need to have a realistic water resiliency plan that has to be communicated properly to the public to facilitate its implementation.

The capability and readiness of bulk water infrastructure to operate intermittently at reduced flows and/or pressures must be assessed, in hand with contingency plans and interventions to reduce or control non-revenue water.

“It’s a fact that South Africa is a water-scarce country. We need to evolve accordingly, and manage water wisely. Everyone must work together to improve our state of water resilience,” Van Deventer concludes.

The estate of choice for parents with schoolgoing Cederberg Estate aimed at first-time homebuyers children

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estled in the heart of Irene and conveniently situated just off the N1 highway lies the sought-after Southdowns Estate.

Michelle Nieuwoudt, an agent with Seeff Centurion, says Southdowns is marketed as “a life less hurried”, and even though this is exactly what it offers being far enough from the city’s hustle and bustle, it’s still within close proximity to all the important activities, amenities and places of employment.

“Situated less than 3km from the Centurion Gautrain Station, Southdowns appeals to many different people. The estate is popular especially among professionals who enjoy farm living, but who still need to be close to the fast pace of the city.”

Nieuwoudt says young professionals and graduates who are planning

families are a big portion of recent buyers in Southdowns. “The estate appeals especially to young families and those planning families soon – not only because of the high-quality schools within the estate, but also because Southdowns offers a safe and friendly environment to raise a family.”

Living in the estate when your children attend a school here, is a big bonus as working parents save both time and money when they don’t have to arrange au pairs or transport for their children. Children can walk to and from school within the estate.

The pasture, Irene Dairy Farm, as well as the Irene Country Club (social membership for the whole family is included in the levies) are also on your doorstep and the estate offers direct access via walking, golf carts and cycling to all these, based on a fingerprint system.

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Spaces, a subsidiary of VDMV Property Group, has launched Cederberg Estate, which will offer 192 units on completion.

Situated on the urban edge of Kuils River adjacent to the Mooiberge Estate on the Bottelary Road, the new development is only 20km from

“Early stakeholder engagement can clarify many uncertainties, and

Stellenbosch and within easy access of the Brackenfell, Tygerberg, Bellville and Durbanville business hubs.

With prices for a studio apartment starting from only R650,000 including transfer costs, the developers aim to address the ever-increasing

shortage of affordable residential property developments close to work, schools, transport nodes, shopping centres and other amenities in and around the Cape Peninsula.

According to developer Craig Myburgh of V Spaces, Cederberg Estate is designed to assist qualifying first-time buyers onto the property ladder.

“First-time homebuyers can start their first chapter with peace of mind, knowing that their kids can play in a safe environment in the estate’s play park and landscaped gardens.

The estate will also offer a clubhouse and swimming pool where residents can socialise around the braai areas and pizza oven, creating a feeling of community. Furthermore, the fynbos-cladded slopes of Simonsberg are a beautiful backdrop to come home to every day, with fresh air and open spaces in the Winelands.

Everything one needs to lead a fulfilling life,” Myburgh says.

LAUNCHING 21 NOVEMBER

For an invitation to the launch,register on www.oasislife.co.za

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PROPERTY NEWS

10 NOVEMBER 2019

Neighbourhood

Suburb focus

Atlantic Seaboard An area that’s way more varied than the collective name suggests WORDS: KIT HEATHCOCK *Map not to scale

IMAGES: ALLISON FOAT, NATASHA LASSEN, SHUTTERSTOCK & GOOGLE MAPS

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he Atlantic Seaboard stretches from the ultra-urban three Points – Sea, Green and Mouille – through rarefied Bantry Bay, Clifton and Camps Bay. Then there’s a stretch of wild rocky coast before you get to the seaside village of Llandudno, a popular beach and surf spot, and then the fishing harbour of Hout Bay with an almost rural feel in the valley behind it.

What they have in common are endless sea views and sheltered sundowner spots, sea birds, surf and an outdoor lifestyle – out of the city-centre bustle but close enough to feel connected.

I enjoy the feeling of the city with the contrast of the ocean life and bird life. If you want to be close to nature you can be! There’s so much to do in close proximity that one doesn’t actually need a car.

ALESSIA COLLURA BROWN, RESIDENT

“Sea Point has a laidback vibe; the pace feels slower and I feel calmer here,” says Allison Foat, who moved back to Sea Point after 10 years in Oranjezicht.

“I love being close to the sea – the sounds of the gulls and the ocean, and being able to walk everywhere.

It feels safe, too, day and night.”

Her brother, physiotherapist Geoff Foat, chose Green Point to be close to his practice. “Green Point is a perfect combination of heritage and sophistication,” he says. “I live on a cobbled street circa the 1800s that looks and feels a lot like Paris, and a stone’s throw away is the bustle of the best in urban life.”

The walkability is one of the things residents love – it’s far easier to lower your carbon footprint when everything you need is close by, and with the MyCiTi bus connecting the length of the Atlantic Seaboard with the CBD it’s quite possible to live car-free.

Property

The Atlantic Seaboard have been making headlines with recordbreaking property prices, glamourous villas in the exclusive suburbs of Clifton, Bantry Bay and Fresnaye.

The current property slow-down has affected this luxury market hardest making for a buyers’ market, although this is expected to pick up as summer brings foreign buyers looking for their dream holiday home. Sea Point and Hout Bay have traditionally been the most affordable suburbs of the Atlantic Seaboard for locals, although new developments and urban regeneration have led to a rise in prices and rates.

Schools A top choice among public high schools in the area is Camps Bay High, with students moving on here from Camps Bay Primary, Sea Point Primary, Llandudno Primary, and Kronendal Primary in Hout Bay, which are all well regarded.

In the private sector, Reddam House in Green Point, Herzlia Weissman Primary, Cape Town French School, Camps Bay Prep, and Hout Bay International School give plenty more choices, or you can look to the city-bowl schools, still within easy distance.

Explore

The Atlantic Seaboard with its back to the mountain and face to the ocean is all about outdoor living. Sea Point promenade is where everyone’s path crosses sooner or later, running, walking, cycling, strolling, outdoor gym and kids’ playgrounds, all with the sound of the ocean and a spritz of sea spray. “Bird-watching and whale-watching add to my prom addiction,” says Allison. “I’ve seen terns and oystercatchers, among others – it’s just the best!”

Glen Beach and Llandudno are favourite surf spots along the Atlantic Seaboard for experienced local surfers, and there’s even a break off Mouille Point, but none of these spots are for beginners. Another way to get out onto the water is paddling in the bay with Kaskazi Kayaks where you might see dolphins and whales, seals and seabirds.

Capetonians head to one of Clifton’s four beaches for sun-bathing and sundowners, or the Camps Bay palm-lined beach overlooked by glitzy cafes, where you’re likely to share the white sands with an international photoshoot. For nature and beach braais, secluded Oudekraal beach is a local favourite, part of SANParks it requires an entrance fee. The wide expanse of Hout Bay beach hits the spot for horse-riding and dog walks, as well as bucket-and-spade play. There really is something for everyone on the Atlantic Seaboard.

10 NOVEMBER 2019

Neighbourhood

PROPERTY NEWS

9

SHOP • V&A Waterfront: everything from Pick n Pay to designer boutiques in the mall and artisan foods at the market on the wharf • OZCF market on weekends: artisan food products, ethical butchers, fresh produce • Cape Quarter: stylish decor, Spar, art galleries and everyday services • Green Point and Sea Point Main Roads, and Regent Road: everything from essential services and chain stores to quirky vintage shops, specialist delis, bookshops and boutiques • Artem: Pick n Pay, Sans and Coco Safar • The Point: Checkers, Dischem, Banks Kitchen • Camps Bay’s The Promenade: Pick n Pay and local services, glitzy restaurants and Hard Rock Cafe • Hout Bay’s Mainstream Mall: Woolworths, Pick n Pay, boutiques and services

EAT

The air is crisp in Sea Point, the sun goes down late in summer, we have the foghorn – I love that sound – and the Prom!

ALLISON FOAT, RESIDENT

• Jason Bakery: artisan breads, pastries and lekker lunches • Giovanni’s Deli: Italian institution for specialist groceries and quick eats • Pizzeria Napoletana: traditional family pizzeria • Coco Safar: patisserie, lunches, tapas and much more • La Mouette: affordable fine dining • Andy’s: sushi • Salsify at the Roundhouse: fine dining with a local flavour • Cheynes: contemporary Asianinspired cuisine

PLAY

For a typical property in this area You’ll pay

R53,872 per month

R5,582,500

For a typical property (two-bedroom apartment)

R10,75m In a complex

2% 75%

Median asking price

COMPLEX

Median asking price

APARTMENT

Monthly bond repayments

For rent

R19,600

For a typical property (two-bedroom apartment)

R32,000 In a complex

2% 70%

APARTMENT

For sale

COMPLEX

• Beach-time at Clifton and Camps Bay • Surf, SUP and kayak all along the Atlantic Seaboard • Sea Point promenade for everyday running, cycling, dog-walking and social hang-out • Putt-putt on the promenade at Mouille Point • Hike up Lion’s Head or along the Table Mountain trails • Green Point Urban Park: picnics, running routes, outdoor gyms • Theatre on the Bay: musicals, plays, cabaret and comedy productions • Horse-riding in Hout Bay on the beach or at a riding school

Based on

over a period of 20 years at 10.25% prime

R5,45m

R17,500

For an apartment

R16,75m For a house

23%

For an apartment

R28,475 For a house

HOUSE

median asking price

HOUSE

R5,582,500

28%

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PROPERTY NEWS

10 NOVEMBER 2019

Neighbourhood

Win the mind games We look at the psychology of pricing and six myths that prevent a property sale WORDS & IMAGES: SUPPLIED

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lthough improving, the property market remains largely favourable for buyers while sellers have to compete for the limited pool of buyers in a market which is generally still overstocked. While pricing is important in any market, it’s especially so in this market, says Samuel Seeff, chairman, Seeff Property Group.

He says any property sale involves competing interests. Firstly, that of the seller who wants to achieve the highest possible price and, secondly, the buyer who wants to pay the lowest possible price. Since the listing process starts with the asking price, the seller will often think that setting the price at the highest possible level will get you better offers closer to the desired price.

In reality, says Seeff, there’s simply no evidence that shows a higher asking price will result in a higher selling

price and actually has the opposite effect by putting buyers off from the outset. There’s a psychology to pricing and the consumer’s mindset about price can make or break a sale. A New York Times report states that “in a market where buyers and sellers circle one another warily, each certain that he or she is being taken advantage of, no matter what the conclusion of a deal, the asking price of a property is rarely a straightforward reflection of comparable values”.

In this climate, says Seeff, the role of an experienced local area agent becomes pivotal as they know the area, what’s on the market and what has sold and for how much.

With their eye on the market and their nose to the ground, such an agent will offer guidance to ensure that your property is not standing out like a sore thumb with an outof-kilter price, but that it’s also not competing at the same price level as every other property on the market.

It says that sellers often start at a point which equates to “wishful thinking” and even when the seller and agent finally reach a point of consensus, it’s often still slightly above the ideal price level. Buyers on the other hand, simply love a bargain and will always look to deconstruct the price, not just in terms of how it represents fair value, but they’ll actively look for vulnerabilities.

Setting the price at the right level can mean the difference between getting a quick offer and drawing little interest which may result in having to drop your price to get an offer.

Seeff says there are many pricing myths which can stand in the way of a successful sale and highlights six of the most common misconceptions.

A high price leaves room to negotiate Nope, Seeff says this is a weak strategy which will have the opposite effect.

Today’s buyers are informed and aware of market conditions and prices. They’ll simply overlook an overpriced property in favour of those which are correctly priced. This could mean that you may have to make price cuts which in turn could attract bargain hunters rather than serious offers.

The news says the market and prices are up With so much written about the market, often by people who are not local experts, it’s easy for sellers to get caught up in the hype of rising prices. Many sellers also look at the property portals which are generally overpriced. It’s best to trust your agent who will use local area sales to advise on the appropriate asking price.

Let’s wait for a better offer Research has shown that the first offer is often the best as it’s based on the value that buyers attach to the property. Sellers tend to be sceptical at first, thinking that the buyer is trying to make a quick bargain buy. If it’s a fair offer, you should always consider it. There are no guarantees that another offer might come along, especially in this market.

A quick offer means the agent priced too low

Renovations and improvements will get a higher price Renovations do not equal a higher price. While some improvement of an older property may well be advised, you should take care not to overspend and overcapitalise. Always consult a local agent and do a “cost versus value” analysis before embarking on renovations.

Not at all, says Seeff. The objective of selling is to get a good offer as quickly as possible.

Receiving an offer soon after listing means that the property is on the market at the right price to attract buyer interest. If you appoint a credible agent, they will not risk their reputation on giving you incorrect pricing advice.

Reducing the price will entice bargain hunters While no seller or agent would want to be in this position, there may come a time when it seems that the market is just not reacting to a particular asking price. In such an instance, if you need to, or are motivated to sell, your agent may advise a price drop. Remember, time is money and the longer your property is on the market, the more it costs in bond repayments, utility costs and so on.

Lowering the price could even result in a better offer.

NEW YEAR’S EVE Tuesday 31 December Rock ‘n Roll is back!! Combine all the fun of the Swinging 60’s, Seductive 70’s and Over-the-Top 80’s, with great views, terrific music and menus celebrating the best produce of the season, and you’ve got a New Year’s Eve to remember! Dress is black-tie / elegant.

Azure Restaurant: 5-course Set Menu; R3650 per person Atlantic Terrace Marquee: 3-course Buffet Menu; R3250 per person

SUSHI & A MOVIE IN THE CAFÉ GRILL GIN & JAZZ ON WORLD MOUNTAIN DAY Wednesday 11 December

Celebrate the ‘Silly Season’ in Style!

BOOK NOW on (021) 437 9029/9000 or on restaurants@12apostles.co.za

With The Twelve Apostles mountain range as the backdrop we’re thrilled to host our very first Sundowner Gin & Jazz in the Fynbos event and look forward to your company! Start the evening with a welcome drink and light snacks, before settling down to a spectacular sunset and live Jazz in the magnificent Fynbos Gardens.

Limited to 8 couples only…so booking is essential. Start your evening with Bubbly on arrival on the outdoor deck, followed by a four-course Sushi Dinner in the Café Grill and a movie in our Cinema, with popcorn, sweets and hot chocolate. An exceptional dining experience with spectacular Twelve Apostles mountain views.

R795 per person

R295 per person / includes welcome drink and snacks

A TWELVE APOSTLES CHRISTMAS Tuesday 24 December | Christmas Eve Dinner Wednesday 25 December | Christmas Lunch During this time of tradition and family, get your festive celebrations off with a bang! We’ll be offering festive feasts... including a welcome drink on arrival...on Christmas Eve & Christmas Day in the Azure Restaurant and Atlantic Marquee.

Contact restaurants@12apostles.co.za for details and to book.

Gift Experience Vouchers - Our Vouchers make the perfect gifts for all occasions. Choose from a tempting selection of food and wine experiences, Spa treatments or a monetary voucher to spend in the hotel. Beautifully presented in a personalised wallet or emailed for convenience, purchase at the hotel or Online.

AGENTS ARE EXPERT PROBLEM SOLVERS Negotiating is a tricky business and contracts can be problematic.

Are you familiar with legalities or how to ensure that a contract protects you? Registered estate agents are licensed professionals with experience of moving transactions forward smoothly.

Another good reason why you should use an estate agent

www.rebosa.co.za

REAL ESTATE BUSINESS OWNERS OF SOUTH AFRICA