Friday, 26 August 2011

A good credit record is worth cultivating

26 August 2011

It’s never too early to start building a healthy credit record.

That’s the advice of Young Carr, CEO of the Aida property group, who notes: “Most homebuyers need home loans, but what many don’t appreciate is that the process of obtaining this credit actually needs to begin years in advance of the decision to buy property.

“The first thing banks will do on receiving a home loan application is to check on the prospective borrower’s credit history, which means that good management of monthly bills, including any clothing or furniture accounts and credit card payments, is critical even for young people who have no immediate plans to buy a home.”

It is also important for future buyers to open a savings or cheque account in their own name, to keep it balanced and not to overrun credit limits. “And a history of full payment on time for a major purchase, say a car, will be a great recommendation for any mortgage applicant,” he says.

“Getting an early start on building a good credit record in this way also means that if there are any minor misjudgements early in a working career, they will most probably be outweighed by a longer period of good credit management when the time does come to buy a home.”

Carr says it is particularly important for those who are working on their credit records to pay attention to the “due dates” on their bills. “For credit reporting purposes, overdue accounts are usually anything unpaid for longer than 30 days. So if the due date is the 1st of the month, say, the debtor must make sure that his payment will actually reach the creditor on or before the 1st – and inside the 30-day window. The advent of electronic banking has of course made this much easier to manage.”

It is also important for potential borrowers to pay attention to the implications of the National Credit Act, which provides that lenders must ensure, before they grant any new credit, that borrowers will not be committing too much of their income to debt repayment.

“They do this by compiling a complete debt profile including all other repayments the consumer has to make as well as regular monthly expenditure on such items as transport, food and school fees before they can approve a home loan.
“However, it must be said that this is not the only good reason to keep the total of your monthly debt repayment obligations as low as possible. The other is that doing so will also give you plenty of leeway to cope with any future interest rate increases without financial hardship, whether you are a homeowner by then or not.”

Issued by Aida National Franchises
Aida head office: 012 682 9600
Contact: Young Carr

Thursday, 25 August 2011

Lowveld farmland in demand

23 August 2011

Food shortages are becoming a worldwide concern, with current prices at the highest level in three years – and the situation is no different in South Africa.

“Food security and a very real need for improved output are vital to ensure social stability,” says Marelize Schuld, principal of the Aida Lowveld office. “With the world population fast approaching 7bn people and estimated to top 9bn by 2050, global food production will have to increase substantially to put food on every table.

“Demand for agricultural land world-wide is consequently rising sharply as investors see value in the commodity against the background of extreme volatility on stock markets. And farms in the Lowveld, as one of South Africa’s pre-eminent food-producing areas, represent solid value in spite of – or perhaps because of - the current economic climate.

“Agricultural land, and developed farms in particular, offer an excellent return on investment and the Lowveld is experiencing a growing demand for the commodity among farmers and corporate buyers from all corners of the country. Banana, macadamia nut and avo farms are particularly popular.”

At the same time, she notes, incentives have been launched to motivate established farmers and agri-businesses in the area to continue operations, and assistance to buy land or consolidate debts is available.

“Various commercial banks support the sector and offer financial expertise and tailored services. These include special mortgage products for first-time buyers, while short-term loans to finance harvesting and other operations such as processing, transport and storage of products can be arranged.”

Schuld adds that it is heartening that the Land Bank has just earmarked R1bn over the next two years to assist emerging farmers. “Land claims in the Lowveld are still being settled and farmers are taking it in their stride. But it is vital that new farmers who are settled on productive land maintain the highest possible production levels.”

In view of the importance of secure food production, Aida Lowveld has committed its services to the sector. “Our office fields experienced specialist agents who invest their energies and knowledge in this important sector and go all out to smooth transactions and transfers for buyers and sellers alike.”

Meanwhile, the Lowveld has lost none of its appeal among investors and city slickers who yearn for wider horizons. Eco and wildlife estates have consequently made a welcome appearance in Barberton, Hazyview and Nelspruit. Many of these developments adhere to green building principles and offer secure living.

Schuld says, however, that although interest in these units is high, strict lending criteria are dampening sales because interested buyers struggle to get the required large deposits together.

Issued by Aida National Franchises
Aida head office: 012 682 9600
Contact: Young Carr
Aida Lowveld: 013 750 2069
Contact: Marelize Schuld

Aida opens new coastal offices

10 August 2011

Still on the expansion trail it has been following for the past 18 months, national real estate group Aida has just opened three more offices in KwaZulu-Natal – two on the South Coast and one in Ballito on the North Coast.

This brings the total of Aida outlets in the province to six, and there are more in the pipeline, says CEO Young Carr. “The KZN property market is beginning to recover from the recession, with prices starting to rise now in response to increased demand.

“Indeed, the latest Absa Housing Review reveals that the average home price in the province during the second quarter of this year was 5% up on the first quarter, and that year-on-year price growth is back in positive territory.”

However, he says, prices are generally still well below boom levels, and the increased activity in the market is in recognition of the fact that there are many really excellent buying opportunities now for both local homeowners looking to upgrade and out-of-province holiday home buyers and investors.

“We believe the timing is thus opportune to establish new outlets that can further showcase these opportunities to a national audience and benefit KZN home sellers.”

Carr says home sellers along the KZN coast should also take heart from the latest FNB Property Barometer, which reveals that holiday home purchasing has more than doubled in the past year.

“Holiday property buying expressed as a percentage of total residential buying has risen from an estimated 1% in mid-2010 to an estimated 3% by the end of the second quarter this year – which we think is excellent news considering that at the peak of the market in 2007, holiday home buying accounted for just 5% of all purchases.”

What is more, he notes, closer analysis of the Absa figures reveals that KZN coastal regions, while coming off a low base, experienced some of the best year-on-year performances in the second quarter of this year, “and we expected these to be sustained by growing buyer interest, especially on the North Coast.”

Issued by Aida National Franchises
Aida head office: 012 682 9600
Contact: Young Carr

Property - AÏDA - Real Estate - Free State - Bloemfontein - Willows - #2694427 : 2 bedroom 1 bathroom

Property - AÏDA - Real Estate - Free State - Bloemfontein - Willows - #2694427 : 2 bedroom 1 bathroom

Wednesday, 17 August 2011

Property - AÏDA - Real Estate - Western Cape - Agulhas - Agulhas - #2600720 : 2 bedroom 1 bathroom

Property - AÏDA - Real Estate - Western Cape - Agulhas - Agulhas - #2600720 : 2 bedroom 1 bathroom

Property - AÏDA - Real Estate - Gauteng - Centurion - Amberfield - #91344155198 : 2 bedroom 2 bathroom

Property - AÏDA - Real Estate - Gauteng - Centurion - Amberfield - #91344155198 : 2 bedroom 2 bathroom

New Agent claims Top National Award

09 July 2011

Roodeport agent Charl Els (centre) has just been named by national property group Aida as its Top Agent of 2011 – after less than a year in the real estate business.
He earned this accolade by winning a string of other prizes at a recent awards ceremony held to honour Aida’s top achievers of the past 12 months, including the Top Rookie Agent award and the awards for the top agent in the units sold category and the top rookie agent in both the units sold and commission earned categories.
Earlier, he had been named as both the top rookie agent and top agent overall in the Gauteng region – and his office, Aida Roodepoort North Executive as the Top Rookie Office in the country.
His awards were presented by Jigsaw chairman Neville McIntyre (right) and Aida CEO Young Carr who said the past year had been a challenging one in real estate but also one in which many agents had become infused with a new energy and enthusiasm which was reflected in their sales achievements and in the growth of their businesses and careers.
* Aida National Franchises has a network of more than 85 offices around the country and is one of the companies in the Jigsaw Holdings group, which also has interests in several other top real estate brands and Ditasa, the Development Institute and Training Academy of South Africa.

Issued by Aida National Franchises
Aida head office: 012 682 9600
Contact: Young Carr