Properties sell ‘if correctly priced’

WHEN Waterfront Real Estate principal Marjory Ferreira decided to enter the property industry 16 years ago, one of her reasons for being attracted to real estate was an aversion to moving house too often.

“Archie, my husband, was an owner-builder over the weekends. We did up four houses and sold them on spec, but every time we left the oven behind!” she said.

The Ferreira couple put down firm roots in their South End townhouse 25 years ago and love their seaside property.

Ferreira completed a course with The Estate Agents Exam Board in 1991. “I wanted to know what I was doing,” she said.

She entered the property industry with a flourish in 1996.

“I joined Peter Davey, then the owner principal of Beachfront Estates, and was employed as a property agent.”

She sold 33 properties in her first year: in 1996 when the interest rate stood at 27%.

She has an SAQA-accredited NQF 5 qualification in real estate.

“I enjoy finding a willing and able buyer and a problem-free property that they really love.”

Her advice on buying property generally is buying property that is affordable. “Leave space for interest rates that may go up.”

She agreed with expectations that interest rates could go up from the middle of 2014.

Her advice is to buy a smaller house in an upmarket area rather than a larger home in a down-market area.

“If a property owner needs to sell immediately, buying a property in a less attractive area will affect the sale of their property,” she cautioned.

She has noticed in the last few months that some people are prepared to stay and improve their homes rather than sell because of costs like registration fees.

Ferreira maintains an optimistic outlook. “There are always sellers wanting to move.”

Since May this year property sales have risen 20% in different areas of Nelson Mandela Bay.

“Andrea Atkinson of Ooba advised that average house prices in Port Elizabeth stand at between R800000 and R900000.

“There are not many bargains,” Ferreira said.

“The properties that are correctly priced sell. It depends on the offer on the day – this is going to predict the real selling price. There is a stock shortage.”

Ferreira has found that the property market stagnates in winter when buyers seem to go into hibernation. “In spring buyers come out to buy,” she said.

Ferreira and her husband love travelling. Their favourite travel destination is Mauritius. They have visited Mauritius many times despite her fear of flying.

Although Ferreira enjoys Thailand she recalls their good fortune at switching travel plans from Thailand at the time of the 2004 tsunami on the strength of a complimentary voucher to Mauritius.

Not on her list of holiday “must- dos” is staying in a high rise flat in Dubai. “We visited a friend living on the 67th floor of a 112-storey building. Everything was state-of-the-art, but he was renovating it as he wasn’t happy with it.”

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