David Rudisha Defends his 800m Title in Rio. Another Gold for Kenya

David Lekuta Rudisha gives Kenya the second Gold and becomes the first Kenyan to defend his 800 Olympic Title

Kenyans ready to start harvesting Gold in Rio Olympics tonight

The real Olympic Games begin tonight in Rio 2016! Unleash the Kenyans!
Share this post and prove your patriotism! #GOTEAMKENYA

http://www.ndatani.com/up-coming-events/

UNDERSTANDING THE REAL ESTATE JARGONS.

In Kenya whether you plan to apply for a loan, or buy  a piece of land, or sell your apartment - you'll hear realtors and banks use some unfamiliar lingo . If you correctly understand these technical terms, you'll be able to clinch better deals.Let us demystify some of these real estate jargons. 

Agreement of sale:Also referred to as a purchase or sale agreement, it is a written contract between the seller and the buyer for the sale of property. Terms and conditions under which the seller agrees to sell and the buyer agrees to buy are clearly spelled out in the contract and signed by both parties.

Amendment:A slight alteration or correction to an agreement without changing its basic essence.

Amortisation:A loan repayment plan which enables the borrower to reduce his debt, through monthly payment of both principal and interest due.

Appraisal:A realistic estimate of the value of the real estate on a given date.

Commission:Money paid by the seller (and in some cases even by the buyer) for finding a suitable buyer and completing the sale of property.

Cloud on title:An irregularity or claim, that if proved valid would adversely affect the title.

Depreciation:A fall in the value of the property is known as depreciation.This term doesn't particularly apply to buying or selling land as a piece of land will always appreciate in value.Thats why you hear sayings like, "buy land they're not making it anymore" , "Buy land and Wait"

Encroachment:Any wall, fence, fixture, obstruction or part of a building that crosses its legal limits and protrudes into the property of a neighbour.

Easement rights:A right granted to a person or company authorising access to or over another's land is easement rights. For instance, electric company drawing wires, placing poles or pipelines is a common example.

Lien:A claim by one person over the property of another as a security for money owed.

Mortgage:A lien or claim against the property, given by a buyer to the lender as a security for the money borrowed.

Public domain:Government land belonging to the public at large.

Refinancing:Paying off one loan with proceeds from another loan.

Lease:An agreement under which the owner of a property gives the rights of possession to a lessee for a specified term and for a specified rent.

Survey:The measurement of plot by a surveyor that delineates its boundaries.

Power of attorney:A document by which you can authorise and empower another person to act on your behalf in specific manner in specific transactions.

Title:The rights to ownership , possession, usage and disposal of a property.

Waive: Voluntary relinquishment of one's rights or privilege.

Affordable housing gaining ground in Kenya

Economic policies if implemented to the letter and are free from minimum consequences of corruption and political interference can transform a country to a state of economic vibrancy; wide spread sound infrastructure and responsible political governance.
Vision 2030 is founded on three pillars; economic pillar, social pillar and political pillar. In its Social pillar, the Government is to plan for adequate and affordable housing for its citizens.
The blue print guides policy implementers and stakeholders to aim at producing houses to all income earners at the rate of 150,000 units annually.
True to this policy, the country has currently increased its annual production to between 40,000 and 50,000 units annually according to the Ministry of Housing. However it is important to note that this annual production of the housing units is a global national figure. If one is to go into detail and survey the number of low cost housing for the low income earners, one may notice that the figures are extremely low and perhaps it is precise to say affordable housing is not affordable to all.
One major impediment of infrastructure development in Kenya, ironically it is the law itself.
In the yesteryears, none of the local authorities would approve drawings that did not comply with the good old Building Code of 1969.
With the enactment of National Building Authority Act and subsequent establishment of the National Construction Authority, the landscape of building development is set to change positively. This new law will allow a developer to construct green buildings with unconventional materials like Structured Insulated Panels (SIP) and interlocking bricks. The doors are now opened to more variety of construction materials at very fair prices. These fair prices of materials, should lead to affordable housing.
The law has given the construction industry a further major boost by amalgamating all previous land laws to only three Acts. Namely, the National Land Commission Act, the Land Registration Act and the Land Act.

 The advent of Real Estate Investments Trusts (REITs) is another conspicuous sign that Kenya’s housing industry is not only growing but also maturing. Although the legal framework of how the REITs will operate has not been finalized, the Finance Bill 2012 has catered for its tax exemption. These are tell-tale signs that opportunities are now opening up that should lead to affordable housing.
If one is to track backwards the history of affordable housing in Kenya, perhaps technology would stand out as the most outstanding key factor in response to addressing affordable housing.
Vision 2030 did not exist ten years ago. National Construction Authority Act did not exist ten years ago. But prefabricated buildings did. Green technologies like solar panels and low cost building blocks did.
The Ministry of Housing has been in the forefront in advocating for low cost housing through technologies like Appropriate Building Material Technology (ABMT) and Expanded Polystyrene (EPS).The main objectives of ABMT is to lower construction cost, improve quality and speed of construction. It is believed such technologies can lower cost of construction by 50%.
Other technologies include a hydra form block which is a South African technology which uses interlocking hardened earthen blocks to minimize the use of sand and cement in wall construction. Tevi roofing tile, a technology from Ecuador creates micro concrete roofing tiles for low cost houses.
Publicity has played a significant role in raising awareness of the business opportunities in the property development industry. In the last few years there have been consistent and growing numbers of housing expos, thanks to the housing deficit. The positive consequences are that these expos are bringing together stakeholders, like minded professionals and international investors. This is a good sign because these expos only serve to generate interest and subsequently have knock on effect in bridging the gap of affordable housing. A good example is the recent housing expo organised by East African Housing & Construction Expo 2012 in Nairobi.

 It is a fact that a decade ago there were only two mortgage lending institutions in Kenya. Today because of market demands, available opportunities and possibility to make profits through mortgage lending, there are close to ten banks ready to offer mortgage services. This has meant interbank competition which has favourable effect to would be house buyers. However it has come to pass that no matter how attractive a bank mortgage service may be if the base lending rate of Central Bank of Kenya is high, monthly payments of mortgage will also remain high.
In response to the growing housing deficit, a number of parastatals are now offering subsidized mortgage rates for as low as 5% through internally structured housing schemes. Not to mention that those rates are protected regardless of inflation. Statistics have shown mortgage uptake has gradually increased within such housing schemes especially for the middle class. Sacco’s have not been left behind in playing the role of mortgage lender. One such Sacco is the Stima Sacco. They are aiming at providing affordable housing to its members. The conclusion that can be drawn here is that lending institutions have not only increased in number but in nature and according to the needs of the potential home buyers. And all these should serve as a clear sign that concerted efforts are being made to address affordable housing.
Without no doubt such incentives have paid off and have contributed largely in bridging the gap of the 150 units housing deficit.
By all standards in as far as Africa is concerned, Kenya is among Africa’s top ten countries that has a vibrant, progressive and growing housing industry. Statistics are showing there is still more opportunities to invest in the housing industry but investors should tap more in the sector of low cost housing to address the larger housing deficit among the low income earners. Visit www.nda

WHAT TO KNOW BEFORE GOING FOR MORTGAGE

 In the most basic sense a mortgage is a loan to buy a property. The process of securing a mortgage means lender approval based on your income, credit rating and other debt.

Understand Your Fixed Costs-Before you decide what you can—or should—spend on a mortgage it’s important to take stock of your habits and your true fixed costs. Be honest with yourself when putting together your household budget, if you’re going to be miserable without your daily premium cup of coffee, then along with your student debt and car payments,plan your costs

Paying Off Your Mortgage-

Once you’re approved for a mortgage and buy your home (congratulations!), now you have to actually start paying off the loan. There are several factors involved in this like your interest rate, payment schedule (monthly, twice a month, every two weeks, or weekly) and your amortization period, which is the amount of time you’ve selected to pay back the mortgage (usually ranging from 15-25 years).

PICKING THE RIGHT interest RATE. 

The interest rate at which you select to pay off your mortgage varies from “fixed”—whereby the rate will NOT change for the term of the mortgage, and is generally a bit higher but considered more stable, or “variable” whereby the interest rate can fluctuate with the current state of the market.

CONCLUSION-Owning a home can truly be an amazing thing. Thankfully there are many resources out there to help make the process a smooth one like mortgage brokers and financial advisors, so remember, you’re never alone through this daunting process

WHY YOU SHOULD ATTEND INVESTMENT EXPOS.

 Exhibitions is a business platform for the  real estate sector and others and for investors. You will find representatives of all areas of the supply chain just a few steps from one another: from development, financing and realization through marketing to the operation and use of real estate and other investment options.
Here you are able to network and share contacts with the sellers of various products and services and the investors.
Exhibitions are open to a large and sometimes diverse range of audiences, general public. This provides you with a platform to promote your product or service to a broader group that may have little or no knowledge of your products and services.
Depending on your type of business, product and market testing can be carried out at exhibitions to gain industry or general opinion about your offering.
As investors you are able to find diverse and wide range of products in one room where you can compare the market prices to make a choice where to invest.
Also you get information  from financiers like banks and Saccos on the amounts, interest rates and percentages of plots and mortgages.
In conclusion companies tend to offer exclusive discounts during this period because of the competition and the need to attract clients as depicted by Ndatani ent.during the just ended 23rd Kenya Homes Expo at KICC.

Why you should buy from a property agent

 

Buying a home is one of the most important financial transactions you will ever make in your life. Hiring a trained and experienced Real Estate agent who has market expertise is the logical and smart choice in today’s busy world and fast paced market. In the capable hands of an experienced and well-versed agent, you can be sure to get your money’s worth. Having a pro can save you’re your money and definitely your time. You can find your dream property through a realtor because he will guide you right from the beginning to the end.

The Property consultant or agent will help you take the right decision giving you property related advice such as:

    Smart search- giving you the maximum property options and helping you short list
    Compare and weigh the pros and cons of localities and projects, security, etc.
    Updating you on the latest rates and trends of the real estate market.
    Financial advice and updates on various schemes
    Giving you walk through of the property or a subjective orientation
    Help you with legal advice

The realtors nowadays invoke a long term trusted relationship with their clients at the same time giving premium professional service. There are numerous well-known real estate agencies and consultancies who offer their services to help you buy residential Property. They will help you choose, plan and budget your home buying. There is no harm in buying directly from the builder but most of us do not have the knowledge as to whether the building has a clear title, land deed clearances, etc. It is, therefore, advisable to hire a professional who will take care of all the small details and help you close the deal. They will provide you strategic advice and with the help of their residential and commercial property specialists, deal making will be at hand.

The modern trend is that the real estate companies have different departments that cater to different problems related to a property purchase. So find a good established realtor who will help you find your dream home.