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FNB First Quarter 2010 Building Stats
FNB - South Africa
The release of the StatsSA Building statistics completes the picture of building activity for the 1st quarter of 2010. Whilst we had previous believed that there were signs of a move towards stabilization in the residential building sector late last year, the first quarter numbers suggest that we are still some way from that point. Commercial property building activity still appears to be on a deteriorating path, as one would expect given a general rise in commercial and industrial vacancy rates.

After some improvement in the rate of decline in residential building activity, this sector once again turned for the worst in the 1st quarter of 2010.
FNB First Quarter 2010 Building Stats

Absa reckless lending court conviction bad for property
Real Estate Web - South Africa
It could lead to banks again being too cautious in granting bonds, argues Tony Clarke.

The recent court case in which Absa Bank was convicted of "reckless lending" in terms of the National Credit Act will reinforce the tendency of all SA banks towards being ultra-cautious in the granting of bonds and this is "regrettable" because they had just begun to show signs of easing up on their loan criteria.

In the Absa case a Port Elizabeth pensioner was granted a bond of R350 000 although his monthly income was only R3 700.

Absa was told that they had not fully assessed the pensioner's financial position, but they are lodging an appeal based on the premise that the National Credit Act allows for contribution to the bond payments from a committed third party and in this case an arrangement was in place to do this.
Real Estate Web

L.E.A.D - Administration of Estates Workshop
L.E.A.D - South Africa
The three day Administration of Estates Seminar will be presented by Ms Ceris Field. Attendees will acquire the knowledge and confidence to administer deceased estates. Topics covered include:

  • Interpretation of Wills;
  • Administration Process;
    o Reporting to the Master;
    o Collecting Assets;
    o Paying liabilities;
    o Advertising requirements;
    o Drafting Liquidation and Distribution Accounts;
    o Calculating estate duty;
    o Transfer of assets and payment to heirs;
  • Minor beneficiaries;
  • Practical examples.
Brochure and Registration details

Global Real Estate Prospects Better
PrivateProperty.co.za - South Africa
There are still challenges, but the US economy and property market are definitely in a "better place" than they were a year ago, and that bodes well for real estate elsewhere in the world.

That's the positive message to emerge from a recent meeting in San Diego of Sotheby's International Realty directors and managers from around the world, who took note of a US National Association of Realtors report that sales of single family homes had shown a year-on-year increase of 16,3% in March to 5,3m units, while the median home price had risen 0,4%.

Consequently, says Sandy Geffen, a director of Sotheby's International Realty in SA, the overall atmosphere at the global meeting was one of "cautious optimism" and a determination to make the most of the new opportunities that are beginning to emerge in property markets around the world.

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