Issue 10 / December 2007
TITOS CHRISTMAS GIFT TO YOU
All eyes will be on the Governor of the Reserve Bank
when the Monetary Policy Committee meets on the 5th &
6th December to decide whether to raise interest rates yet
again, for the seventh time in the past year.
Mboweni has made it clear that if the decision were his alone,
we would definitely see another rate hike. There is a growing
chorus of opposition to a knee-jerk rise in interest rates
as the only solution to curb consumer spending, but it seems
unlikely that more creative ideas will emerge from this meeting.
In an article written for Mail & Guardian, Réjane
Woodroffe writes: It is not sensible for government
to require the central bank to use the only tool it has, interest
rates, to solve a problem that simply cannot be solved by
higher interest rates and at the expense of economic
growth. Just because you have only a hammer in your toolbox
does not mean you have to use it for every problem that comes
along. If the problem is one weve never dealt with before,
lets open the debate and apply our minds to deal with
it and not just bash it with the hammer and hope for the best
simply because that is the tool weve always used
in the past. It may make the problem worse.
And since theres nothing we mere mortals can do about
it, The Bond Man is inviting you to let your imagination fly.
If YOU were the Govenor, what would YOU do to fight the inflation
monster? Enter our competition
below and your response could win you a Balthazar (12 litres)
of Laborie Cabernet Sauvignon 2002 .
Reflecting the mood of the market, the FNB Property Barometer
reports that four out of five residential properties were
sold at less than the asking price in the third quarter of
this year. The average selling time has increased to 11 weeks,
with premium properties remaining on the market for an average
of 12 weeks and lower-priced properties for about nine weeks
before being sold.
Win a Balthazar (12 litres) of Laborie
Cabernet Sauvignon 2002!
Simply click on the button below and email The Bond Man
your answer to this question by
15 December 2007. As long as your response is original,
it can be either serious or as wacky & off the wall
as you like. Please limit your response to 100 words.
Since there are no right or wrong answers, the winning
entry will be the one that most hits The Bond Mans
A TRIBUTE TO MIKE VAN ALPHEN
the day after he retired from Absa after 40 years distinguished
service, Mike van Alphen paid a visit to The Bond Man. As
Regional General Manager of Absa Home Loans, he was our most
senior contact at the bank and was always available to help
us with complicated and urgent deals. Mike has been a staunch
supporter of The Bond Man ever since I started the business,
but my association with him goes back much further than that.
He was my boss about 15 years ago and has been a friend and
mentor ever since.
At his farewell function a few weeks ago, one speaker after
another paid tribute to his legendary commitment to customer
service and to getting the deal done. In a systems
driven industry now run by impersonal, anonymous call centre
staff, Mike represented the human face of banking. It was
a privilege to have a hotline to MVA whenever
a big deal of mine teetered on a knife edge. I relied heavily
on his guidance and drew on his prodigious knowledge of the
mortgage industry more times than I can remember. In banking
terms, he was something of a national treasure, a building
society man of the old school, who was never too busy to lend
an ear and give advice at any time of the day or night.
Luckily for us, Mikes association with The Bond Man
will continue in his new role at Independent Initiatives,
a recently launched aggregation company.
AT THE BOND MAN
My long-time friend and colleague, Jenni Warrington,
has moved on and I wish her every success in her new endeavours.
I am delighted to welcome my 19 year old
nephew, Toni Fardella, into the business.
Initially, Toni will be responsible for following up the
progress of our deals with the attorneys, as well as capturing
new bond applications onto the system.
Look out for our regular "Ask The Bond Man" questions
and answers column in The Property Magazine, starting
in the December edition. Click
OUR WISH FOR YOU
The Bond Man wishes all our clients and friends peace &
joy this festive season.
The Bond Man
House prices in SA have risen faster
than anywhere else
House prices in South Africa rose 351% - the highest in
the world between 1997-2006, according to Economists
Pocket World in Figures. Ireland and Britain had the next
highest rate of increase in house prices.
Telephone: +27 (0)21 433 1060
Fax: +27 (0)21 433 1062
Mobile: +27 (0) 82 453 7374
204 Main Road, Sea Point