Clive Greene has been selling properties for 22 years and in this time, has seen a lot of changes. The reasons why people sell their homes are normally due to Divorce, Death, Disease, Debt and Disillusionment. Obviously, these are not the only reasons why one would sell or buy a home. We dig deeper into why this is so. In South Africa and the world over we live in an age of change which influences why we sell or buy and when and what we do. One of the biggest drivers influencing our decisions is due to Disruption. Not too long back if our sports team lost or won the Currie Cup or the Springboks won the World Cup it would directly impact the public mood and sentiment having a knock-on effect to spend or not to spend. Of course, this pertained to those few who benefitted during that era. As the years rolled on and with the transfer of power from one group to another, the playing fields changed and so too did the disruptors. From economic, political to digital disruption, it engulfed us, for better or worse, apps, websites, cloud-based technologies, android phones, tablets and all other communicative touch points and platforms sparked new ideas and new business opportunities such as Airbnb, Cryptocurrencies, Uber and the like. Disruptive technologies had arrived to turn our world upside down and to challenge the status quo of old-school trading. Tomorrow’s newspapers were yesterday’s news. We all live in a global environment with global disruptions and new challenges.
Today billions of people across the globe have unlimited access to information. Buyers of property are able to make educated decisions.
According to Property 24, demand for housing in Simbithi steadily increased from 3 houses sold per annum 2008 to 58 houses per annum in 2015. This number dipped sharply to 31 houses sold in 2017. Ref (property 24 2017). On the flipside, as sale volumes decreased the sales value increased dramatically. At the current moment, we have 43 homes listed for sale where elasticity for demand starts to play its roll. How high can property prices be pushed before buyers lose interested? This is the golden question? What we do know for sure is that more houses will be listed as the year progresses, but as things stand only 73% of sellers will find a buyer for their home.
The things that will affect a non-sale will be:
- Substitute for better-valued property in neighbouring estate
- Price of the property is too high.
- Banks don’t find value.
Close to 90% of free-standing homes in Simbithi are occupied as a permanent residence. The land has reached a peak due to the cost of Building so we cannot see land prices escalating two much more in the short term. The holiday home market is pretty saturated but there is a steady demand. Again I believe that there is a ceiling on prices for holiday flats in Simbithi as people are being more cautious about spending too much on a holiday home.
On average it takes a home 3 to 6 month to sell a home which falls inline with John Loos of FNB stating homes are taking on average 17 weeks to sell provided they are priced right. If not priced right it can take anything from 1-3 years to sell and very likely to lose more value. Clive Greene advises, “If you are serious about selling your home, pricing it correctly is vitally important”. Call us for a free valuation. There are tools available to us on the web now that help us to determine a Market-related price. In reality, this is what the banks do and if your buyer is requiring a bond, your property is worth what the banks value it at. A good agent will explain to a Seller exactly how his recommended selling price is determined and he will explain why selling prices cannot be influenced by emotion. Market forces determine prices today, more so than ever before. “As experienced agents, it is our job to find a willing buyer and to ensure the transfer of property happens smoothly”.
Selling your home is accepted as one of the most stressful things you can do due to the emotional attachment that most people have to their homes. Having said that, buying a home is also stressful, can I afford it? Is the area right for my family? Are their shops, doctors or schools nearby? The questions are endless. Reducing the impact of the stress you experience is what we do best to ensure your total satisfaction from start to finish.
At Elan Real Estate we have a team of Professional accredited Simbithi real estate practitioners. We also have digital media and marketing experts. If you’re a serious seller or a serious buyer then call Clive Greene 082 578 5166 today or click here. Let’s meet for a cup of coffee. We can assure you of 100% satisfaction.