Friday, 18 May 2012

Greek Exit from EU mmmmm - has the race been run!!!

Political leaders in Greece have failed to form a coalition government signalling fresh elections next month. Just over a week ago an inconclusive general election saw voters reject the established political parties in favour of anti-austerity movements on both sides of the political spectrum - so has the Greek race been run. 

Is it not time to send your money to South Africa.
Exit polls suggest that the leftwing SYRIZA party led by Alexis Tsipras, who were the surprise runners-up on 6 May, will claim victory comprehensively in the next set of elections.

Anti-austerity Tsipras has vowed to renege on Greece's austerity agreement: "The popular verdict clearly renders the bailout deal null." His aggressive stance on the matter has caused many economic analysts to accept that Greece's Eurozone membership is riding on its last legs.

The bottom line is that a victory for Tsipras greatly increases the chance of a Greek exit.
And a Greek exit has huge implications for the Eurozone.

The tenuous situation in Greece has already caused chaos within financial markets; stocks have plummeted, bank deposits have fallen sharply, and the Euro has declined to its lowest level in three-and-a-half years.

But the economic ramifications of a Greek exit are far more serious.

If Greece defaults on its debt obligations and is subsequently ejected from the currency bloc then it will face numerous challenges to keep the country afloat. Greek currency will devalue, so send your money to SA,  inflation will soar, banks will collapse, businesses will become bankrupt, and the economy will contract sharply.

In terms of currency the most likely scenario is that all Greek Euros (distinguishable by the serial number) will be converted into new Drachmas with an effective exchange rate of 1:1 against the Euro. Whilst the Central Bank prints new banknotes in preparation for the changeover, Greek Euro banknotes will be stamped and these will be used as temporary currency, leaving unstamped foreign Euro notes no longer accepted as legal tender, so get rid of them and send your money to SA. In a few months time when the new Drachmas are released, all old banknotes will be withdrawn and demonetized.

The initial 1:1 exchange rate is not expected to hold up in the currency exchange market, and the new Drachma is widely predicted to experience rapid devaluation as investors price it in line with the dreadful Greek economy. This scenario could potentially cause huge losses for anybody with investments or assets in Greece. The Greek government will most likely employ capital controls to prevent large masses of money from leaving the country as people look to gain an economic advantage.

Over the past week €700 million has been withdrawn from Greek banks as many investors are looking to transfer funds out of Greece to avoid the risk of currency devaluation on their asset values if a Greek exit does materialise.

Thursday, 3 May 2012

How do I get my Property website to the top of Google - Part 1

I am sure you have asked yourself the question over and over and over.  How come my property website does not appear first in Google when people search for property and homes?  Have I not the best property deals available?  Do I not offer the best commissions and services?

I understand that Google had over 2.5 Billion page views per day at beginning of 2012 and that 67% of Internet users have gone online to search for a product that was advertised offline - which often suits my expensive billboards I place in my area.  I read that 89% of consumers research products online which includes properties, distressed sales, properties in possession and all kinds of property deals, and yet 63% purchase offline yet more frequently online sales in the property industry is being made.

YouTube is now averaging 2 Billion videos views per day globally and I have tried to make my own videos and get them "up there" and even better, there are 5 billion mobile users worldwide.

OK, so I have Facebook but all my friends are just that friends, and I want them to buy properties from me and I even have a twitter account and a LinkedIn account and then in July2012 Google+ launched, a new social network that no one apparently wanted and guess what? It reached 25 million users in less than 30 days. 

Our 2012 planning therefore has include a plan for all clients on Facebook, Twitter, LinkedIn & Google+, as well as other emerging social networks as needed but I am still totally concerned - How do I get the buyers to notice me and come to my property website? 

the truth my friend is that: Social media marketing, Search Engine Optimization (SEO) and Paid search (Google and Facebook Advertising) is a serious marathon, and not a 100 m race!

So in part 2 I look forward to talking about how you the property person with a super property website can start getting your business to the top of Google, get the leads you want; convert these leads to clients and start managing your budget so that you can get the bang for your buck!

Please feel free to add comments, email me, add your thoughts, questions and each and everyone will be answered and added to our free getting to the top of Google conversation.

So if you want to start - get a free website audit!

Wednesday, 2 May 2012

Access bonds, flexi option, money available from a home loan

So what is the reasoning behind the banks such as FNB and ABSA, and Standard bank and Nedbank offering access bonds and what do they do for us.

The reasoning is that when allowing a customer to increase their home loan balance to the original bond amount without going through a new credit assessment the banks are not acting as  responsible lenders - a real no no for any lender

So, by only allowing access to funds that have been prepaid, the bank then assists, you the customer in ensuring that the home loan is paid off over the term of the bond as set out originally, without placing any additional financial strain on you the customer.  trust me, if you are under strain you will complain.

Should the customer require more than their prepaid amount available, a credit assessment will be done as normal to assess the affordability, which will ensure that the customer can afford the additional credit they want. This in turn reduces the risk of the customer going into arrears in the event they start taking financial strain.

So what are the rules - well these vary from bank to bank but generally they are and include but are not limited to: The customer must have a transactional account at the same bank as the access account.  The linked account must be in the same name as that of the bond holder and where the bond is in joint names, in the name of one of the bond holders. Home loan repayments must be by debit order or salary stop order.  Customer should not be under Special Repayment Arrangement or debt review. Insurance cover must be up and running. No vacant land bonds. No foreign nationals and non residents.

     Call a bond originator today and they can immediately send you details for all banks at once.