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	<title>Somerset West</title>
	<link>http://somersetwest.ilocals.info</link>
	<description>Somerset West Home Owners News By Linda van Nes</description>
	<lastBuildDate>Wed, 11 Feb 2009 18:48:07 +0000</lastBuildDate>
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	<item>
		<title>Rate cut provides welcome relief</title>
		<description><![CDATA[


John Loos says rate cut provides welcome relief 
             




 
 






 
 


 


JOHANNESBURG (February 05) &#8211; The SARB Monetary Policy Committee (MPC) took the decision to reduce its policy repo rate by 100 basis points today, from 11.5% to 10,5%, which should imply a drop in prime rate from 15% to 14%. 
This, says Johh Loos, Property Strategist [...]]]></description>
		<link>http://somersetwest.ilocals.info/2009/02/11/rate-cut-provides-welcome-relief/</link>
			</item>
	<item>
		<title>National Budget 2009</title>
		<description><![CDATA[






The Minister of Finance today delivered his Budget Speech reconfirming government’s continuing commitment to disciplined fiscal policy and announced various changes to budget allocations. 
For the taxpayer-man-in-the-street, the most relevant of these are:

The threshold below which no income tax is levied for people under the age of 65 is raised to R54 200 and for people [...]]]></description>
		<link>http://somersetwest.ilocals.info/2009/02/11/national-budget-2009/</link>
			</item>
	<item>
		<title>FNB PROPERTY BAROMETER (HOME BUYING MARKET) Q3 2008</title>
		<description><![CDATA[
– Activity levels decline further but agent confidence improves on the back of declining inflation and interest rate risks
 
SUMMARY
FNB’s Residential Property Barometer for the third quarter reflected further deterioration in the market. 
 
The Barometer is a survey of estate agents in major property regions, in which they are asked to provide an indication of demand [...]]]></description>
		<link>http://somersetwest.ilocals.info/2008/10/07/fnb-property-barometer-home-buying-market-q3-2008/</link>
			</item>
	<item>
		<title>Emotions in the market</title>
		<description><![CDATA[
Dear property enthusiastic,


It is a time of changing emotions in the property market. And for us property professionals not always emotions we can understand. Banks are informing us one way while other institutes are informing us differently. The national credit act did have its effects which we got used to surely but slowly. The last [...]]]></description>
		<link>http://somersetwest.ilocals.info/2008/04/13/emotions-in-the-market/</link>
			</item>
	<item>
		<title>VAT OR TRANSFER DUTY?</title>
		<description><![CDATA[
Very often the question arises as to whether the purchaser must pay transfer duty on a particular transaction or whether there is no transfer duty payable as the transaction is in fact a VAT transaction.  This question can arise where the seller is registered for VAT but the purchaser is not or the seller is [...]]]></description>
		<link>http://somersetwest.ilocals.info/2008/02/06/vat-or-transfer-duty/</link>
			</item>
	<item>
		<title>THE NATIONAL CREDIT ACT AND BOND CLAUSES</title>
		<description><![CDATA[
The question of amendments to the bond clause as a result of the passing of the National Credit Act has been the subject of much discussion.  Most contracts contain a clause which provides that the agreement is subject to the suspensive condition that the purchaser is able to raise a loan upon the security of [...]]]></description>
		<link>http://somersetwest.ilocals.info/2008/02/06/the-national-credit-act-and-bond-clauses/</link>
			</item>
	<item>
		<title>NATIONAL CREDIT ACT</title>
		<description><![CDATA[
INTRODUCTION The National Credit Act (hereinafter referred to as &#8220;the NCA&#8221;) was passed by Parliament on the 10th of March 2006.  The main provisions of the Act come into effect on the 1st of June 2007. The purpose of the Act is to:  




	promote a fair and non-discriminatory market place for access to the consumer credit;
	



	regulation [...]]]></description>
		<link>http://somersetwest.ilocals.info/2008/02/05/national-credit-act/</link>
			</item>
	<item>
		<title>NO NEED TO PANIC</title>
		<description><![CDATA[
There have been certain articles recently which have stated that South Africa intends to only allow foreigners to purchase property on a 99 year lease.  These reports are not all together accurate.  All that has happened is that the relevant minister has stated in parliament that one should investigate why the prices of properties in [...]]]></description>
		<link>http://somersetwest.ilocals.info/2008/02/05/no-need-to-panic/</link>
			</item>
	<item>
		<title>VOETSTOOTS &#8211;  DOES SILENCE CONSTITUTE FRAUD?</title>
		<description><![CDATA[
A contract to buy or sell property would invariably include a voetstoots clause.  The recent Court decision of Waller and Another vs Pienaar and Another 2004(6) SA 303(C) has elucidated certain aspects of the voetstoots clause.


What is meant by the term &#8220;voetstoots&#8221;? The clause means that the property is sold &#8220;as is&#8221; or &#8220;as it stands&#8221;.  [...]]]></description>
		<link>http://somersetwest.ilocals.info/2008/02/05/voetstoots-does-silence-constitute-fraud/</link>
			</item>
	<item>
		<title>ELECTRICAL COMPLIANCE CERTIFICATES – A REQUIREMENT IN LAW</title>
		<description><![CDATA[
There is an obligation in Law that when property is transferred, there is in existence a valid electrical compliance certificate or the obligation to obtain an electrical compliance certificate.  This onerous obligation is most often placed on the Seller and is one that extends beyond a mere contractual obligation, as it is governed by statute [...]]]></description>
		<link>http://somersetwest.ilocals.info/2008/02/05/electrical-compliance-certificates-%e2%80%93-a-requirement-in-law/</link>
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