The Science behind improved billing
"The Science Behind Improved Billing" - watch out for the next article in our Practice Management series where we will explore the basic principles that should be observed when billing your clients. We will also debunk some of the common myths and misunderstandings that make this simple procedure one of the most poorly executed aspects of good practice management.
In the meantime read the following articles: Cash Flow and Complete Practice Management
FNB House Price Index
FNB - South Africa
The year-on-year decline in the FNB House Price Index continued to gather momentum in February, from a January revised rate of -4.7% to -6.9% last month.
This is the fourth consecutive month of average year-on-year house price deflation, and it continues to appear likely that this situation of national house price decline will continue for most of 2009. On a month-on-month basis -2.2% deflation was recorded, worse than the revised -1.9% of the previous month.
This ongoing deflation is the lagged response to a decline in demand dating back to 2007. Rather than being reflective of the recent global recession, it is likely that the deteriorating house price trend is still largely reflective of rising inflation and interest rates up until mid-2008, and unfortunately this means that the negative impact of the more recent recessionary conditions probably still has to be seen. This would suggest that the rate of house price deflation will probably get worse before it gets better.
Understanding how attorneys manage property deposits
RodneyHayter.com - South Africa
With banks tightening up on lending, many more purchasers are paying for their properties with cash, or at least part of it in cash, thus making it important for buyers to understand how attorneys manage their money while in trust, advises Brett Nicholson of Shepstone & Wylie Attorneys property department.
"In most cases the sale agreement will have a clause which provides that this cash deposit, or the full purchase price, is to be paid over to the transferring Attorney on a specific date prior to the actual transfer taking place," adds Nicholson.