THE 10 YEAR INTEREST RATE JOKE!!!

Interest Rate (%pa) Effective From
15.50% 2008-06-13
15.00% 2008-04-10
14.50% 2007-12-07
14.00% 2007-10-15
13.50% 2007-08-20
13.00% 2007-06-11
12.50% 2006-12-11
12.00% 2006-10-13
11.50% 2006-08-03
11.00% 2006-06-12
10.50% 2005-04-18
11.00% 2004-08-16
11.50% 2003-12-15
12.00% 2003-10-20
13.50% 2003-09-15
14.50% 2003-08-15
15.50% 2003-06-13
17.00% 2002-09-13
16.00% 2002-06-14
15.00% 2002-03-18
14.00% 2002-01-16
13.00% 2001-10-01
13.50% 2001-07-16
13.75% 2001-06-18
14.50% 2000-02-01
15.50% 1999-10-04
16.50% 1999-08-16
17.50% 1999-07-14
18.00% 1999-07-02
19.00% 1999-05-03
20.00% 1999-04-02
21.00% 1999-03-02
22.00% 1999-02-02
22.75% 1999-01-04
23.25% 1998-11-16
24.00% 1998-09-02
22.00% 1998-08-03
21.50% 1998-07-16
20.00% 1998-07-02
18.00% 1998-03-16

Why Should You Buy Now?

Yes, call me mad but NOW IS THE TIME to buy property. High inflation and high interest rates have ensured two things:

• If you buy now you will be building wealth – the value of houses tend to double every 10 years so now is a good time to get into the market. There is a lot of stock to choose from and the prices are highly negotiable ensuring the best prices. Check out http://www.myroof.co.za/ - Cut your agent costs and fees TODAY!
  
• Paying your own bond and not paying rent enables you to gain access to the wealth: in profits, when you sell the property or equity on the value for improvements. This can be used towards education or even buying a second home.


• You will also have a measure of freedom that comes from owning your own home. You can decorate as you want, add on and benefit from the enjoyment of the improvement and the growth in value of your investment.

Also you can be building equity by paying your mortgage off sooner; this can be done by paying more than the minimum instalment each month like a ready made savings plan, allowing you to pay off more capital and save thousands in interest.

I will reassure you of the steady and growing demand of buyers is SA. The growing amount of people who are keen and financially able to buy their own homes are growing thanks to broad-based black economic empowerment so there will be a continued demand to sustain the value growth that builds wealth over the next few years.

“The Mystic”
rosettap @ wizard .za .com

Happy Birthday TATA!

Dear Tata

We wish you all the love back that you have given us

We wish you the strength of a 1000 warriors

We wish you so many more special days like those that we have got from you

BUT MOST OF ALL

WE WISH YOU A HAPPY 90th BIRTHDAY!!!

from your humble friends and admirers

Wizard Midrand

Platinum

Bossetto Investments

Jordan Properties

Ivolution-Seo

Houzeit!

Angela Kernot Properties

Oscar Properties

and the rest of SA!

Standard Bank Ends Stanrands Program

I know alot of estate agents out there loved the Stanrands program that offered a nice rewards program for business done through Standard Bank, but in light of the current economic situation and changes in Standard Bank Home Loans lending policies they have decided to withdraw this program until further notice.

See the letter from Standard Bank Below:

We are all feeling the affects of a slowing market, and are having to adjust our organizations and offerings accordingly.

In light of these tougher economic times, Standard Bank Home Loans has taken a decision to shutdown the earning of StanRands, as a blanket rewards programme, for the time being.

This means that as of July 31, 2008 estate agents and principals will no longer be able to earn StanRands for business registered with Standard Bank. This means that claims can be made for bonds that registered before July 31, 2008 in terms of the current rules.

StanRand members will, however, be able to redeem StanRands, onto their StanRands Gift cards, until December 15, 2008 with our Call Centre until that date.

Once the StanRands have been credited to the card the value will be available until the card expires. StanRands packages currently in place will be honoured

As in the past Standard Bank initiated campaigns will continue to run for particular geographic regions and agency/development groupings. Consequently, please hold on to your StanRands Gift Card, as the opportunity to earn further StanRands will be available through these campaigns.

Please could you assist us in ensuring that all StanRand members are made aware of these impending changes.

WizardMan Out!

LOVE your PROPERTY

Well you know how good this feels RIGHT.

So do the same with your property. Whether you buy from a great agent, or a so-so agent, make sure you ask the right things, give the right brief and enjoy; as this is your biggest investment. So buy today because in 10 years time its going to be a lot more expensive.

Get great advice and use a great mortgage originator. they will give you sound advise and work very hard to get you your best deal. You can even get financing in Botswana, Mocambique and Zambia from your South African bank. email your mortgage man today.

Same as attorneys, use one who gives you great advice, they are there and will steer you in the right direction. There are those special attorneys who will give you free advice before you even start.

If you need to finance those costs, get a personal loan and short-term at that. There are ways to make the property deals happen all you need to do is ask the professionals.

How can we help you feel like you are falling in love again?

Rate Tarts - New Terminology We Should All Be Using

Home “rate tarts” is a term that has been coined by the UK for consumers who constantly look for and chase after better deals from lenders in order to limit the pinch of rising interest.

It is now thought that South African home owners may have to revert to being ‘rate tarts’. According to various industry experts, the increasing interest rates are beginning to send SA buyers to develop a culture of bargaining, bartering and chasing after better deals and as there are definite indicators of the property market having dissipated slightly, the lenders may be more willing to bargain.

The shrinking margins and lowering of bustle in the South African property sector may lead banks to advertising their lending rates and competing on prices, something that has not been done by in the past. Another development occurring in the banks is the emergence of a ‘cancellation or defend rate’. The cancellation or defend rate occurs when a banks client threatens to move to another lender and cancel their existing mortgage at their current bank.

The cancelling (defend) department of their current bank is prompted to offer a further rate concession to the enraged client in order to avert them from moving to another bank. Consumers should use this to their advantage by talking to lenders about moving their mortgage thereby allowing for the greatest leverage.

It should be remembered that it costs approximately 1% of the value of the loan to move to another lender. This 1% can be covered by the equity that is accessible in the new home loan and can possibly be recovered in approximately 18 months after the change has been made. This term is otherwise known as Loan Switching!

If switching is something that interests you, give us call at Wizard Home Loans today and chat to one of our specialised consultants. Click here to chat to Wizard Home Loans.

SA Property BLOG reforms.

BLOGGING is such a funny thing. We've been going for just over a year now and if there's one thing I don't get is alot of criticism. Now the bad thing about not getting criticism is that you tend to think that you're doing everything correctly.

Well I received some criticism a week ago from a very big client of ours, and frankly after I was told that my Property BLOG was only portraying bad news, I was rather offended, BUT IT'S SO TRUE!!! With all the negativity and bad news that I've been reading of late, I've forgotten the true purpose of this BLOG. To educate people purchasing homes, to assist those looking for property finance and to give an all over GOOD and HAPPY feeling to everyone, because home financing and buying property is your biggest asset you'll ever have.

With so many people having credit issues, we're going to posting alot more tips on how and where to save money. Tips on using your home loan to your advantage. Tips on getting your loans approved with the banks...

So stick around people, this South African Property BLOG is about to get exciting!!!

Thanks to all those who've stuck around and thanks to those who've just joined us.

WizardMan Out!