Monday, May 23, 2011
Municipal Elections and Real Estate
Seeing that the municipal elections just finished, I though of how this can assist, or not, in the whole Real Estate, buying and selling cycle. Being an agent I have to listen to buyers making all sorts of excuses for not buying because of weird and wonderful reasons but most of the important ones are concerns regarding safety and services delivery in the area, complex and or estate. It doesn’t help taking a prospective buyer into an area where the refuse hasn’t been removed for weeks and the municipal grounds or parks are littered with rubble and it looks like a dump site. On the way to the property you have to negotiate the potholes and hope that you don’t have to help your client change a tyre or worse.
I think people in general vote for change. They are unhappy with the way their tax Rands are being spent and they believe that another party might be the solution or at least assist to achieve more than the previous bunch. I’m not big into politics but I am big into finding properties for buyers and I would like to know that they are happy in their new home and neighbourhood …..
The math is simple, good area = higher value, bad area = lower value, and if you buy in a “GOOD AREA” and the municipality goes from good to bad, your prime property will loose value. Selling will only be an option if you are prepared to settle for less as in the current real estate market, property values take there time to increase so buying in the right area is very important. Making sure that the area where you stay is run and maintained properly by whoever is involved is just as important if you ever want to sell.
Oh well, the elections are over and all we can do now is to make sure that the work is done and the services are delivered. We should be involved as it is our money being used to clean up and maintain the streets where we want to be safe and happy.
……. Just a thought!
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