Table of Contents Message From GAR Like virtually all other industries, the real estate market experiences highs and lows which Arnold Jose • President coincide with a variety of economic conditions within the region. In recent years, the number of REALTORS® on Guam has grown, there has been a marked increase in residential and commercial transactions and projections have all pointed to “the next big boom”. All of these positive attributes have been tied closely to the well-publicized military influx. Well, what happens when there’s a market lull between the big news and the big boom?
FEATURED HOUSES
TASI 17 August 2008 • Vol. 1 • No. 3
Departments Publisher Yellow Pages Ink
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Market Report Your comprehensive look at the trends of the real estate market.
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Feature What You Get For Your Money
Business Sales Manager Jay-R S. Dominguez Traffic/Circulation Manager Josie Redmond Production Manager Mark Burke Production Assistant Lynda Young
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From the Experts Sell Your Home with The CARMEN System
Graphics & Layout Mark Burke Jon Barnhart
Editor
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Profile Alfredo Bustamante “In Passionate Pursuit”
Janiece A. Sablan Editoral Contributors W. Nicolas Captain Carmen Mesa
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Classifieds
Peggy Araullo Llagas Special Thanks To
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Closing Guam Association of Realtors The REALTOR® Code of Ethics
Ricardo Delgado Jr. - President PTI Larry Knecht - EVP
“When market conditions dry up, lay the groundwork for healthy harvests in the future,” advises Mariwyn Evans in the July 2008 issue of Realtor Magazine. This may be a time for reflection and creativity among REALTORS to meet the current demands of the marketplace and prepare for tomorrow’s growth. With U.S. consumer confidence at a nearly all-time-low, we are fortunate that Guam has strong indicators for further growth. It is unfortunate; however, that specific events have created rather large stumbling blocks for smooth progress. Not only have fuel prices muddled consumer confidence on a local and national level, but the more recent moratorium by GWA has caused quite a stir in the real estate industry. New developments have been halted indefinitely due to the uncertainty of Guam’s wastewater situation. This impression leaves an unfavorable image of Guam’s real estate industry and its ability to meet progress demands. Yes, for every peak there is a dip. What do we, as real estate professionals, do about this? Evans writes, “…it means adopting an authentically positive attitude, which recognizes real estate is a cyclical business. Your market may be in the down leg of the cycle now, but it won’t be there forever.” Fortunately for us on Guam, the little pause in business should prove to be just that, a little pause. With the military build-up still several years away, we should anticipate that there will be an upward slope in real estate activity with numerous pauses along the way. What lies ahead? Choose your future! Accept the facts of change and decide how to respond. The truth is, any type of real estate market is always good for someone.
CasaGuam is Published by:
ARNOLD C. JOSE 2008 President Guam Association of REALTORS®
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Real Estate Listing By Village
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Market Report
Annual Volume & Transaction Number of units sold and average sale price of residential homes for each month for 1st Qtr 2008 (Jan-Mar). 1st Qtr 2008: 156 units sold with a median price of $206,000.
SFD (Homes) The median price for Guam SFD reached a new high in the first quarter of 2008. However, there is only sale of a home more than $500,000. We’re expecting stabilization in the next 12 to 24 months before it’s a wild ride again. During 2006 and 2007, new trends impacted SFD sales figures. New trends include the increase in new construction, which typically increases overall median pricing. Increased consumer confidence and the near elimination of foreclosure activity further supported increasing prices. The near term is expected to reflect continued positive momentum due to strong consumer and foreign investor confidence, relatively low interest rates, a weak U.S. currency and other factors. However, considering the dramatic improvement in market conditions since 2003, intermittent periods of cyclical activity are anticipated.
Condos Many existing projects are still a great bargain, same outlook as above. Guam’s real estate market is in a robust expansion phase driven primarily by military-related economic and population growth projections. Market activity and median prices have increased significantly since the recessionary period of 1998 to 2003. Currently, numerous new projects are under construction or proposed. Considering the significant recent increases in prices, the near term may reflect periods of stabilization or modest growth before market conditions improve during the construction boom projected to commence in late 2009. Future market conditions will reflect supply and demand patterns which are frequently subject to both positive and negative external forces. Number of units sold and average sale price of condominiums for each month for 1st Qtr 2008 (Jan-Mar) 1st Qtr 2008: 71 units sold with a median price of $145,000
Residential Rentals Overall, we estimate that Guam’s rental market includes approximately 20,000 units and an aggregate annual rental figure approximately $172 million. The current market is characterized by slow growth or stabilization in rent and occupancy levels. The recent run-up in prices has tended to lower demand from investors, who previously benefited from relatively high rates of return. [ Editors Note: Second Quarter Market information was unavailable by press time. We are, therefore, repeating First Quarter data. ]
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Feature t's no secret that we are in a seller's market and that prices for real estate are almost double what they were five years ago. If you're considering purchasing a home, should you play the waiting game or proceed? Market data projects increases in some segments of the residential real estate market. You might consider purchasing now if you find a home that meets your size, price, and location requirements. In terms of location, "The most desirable areas in Guam are those that have some sort of view and for the most part are centrally located. These would include Tamuning, Nimitz area and Pago Bay. Talofofo is also showing signs of great potential, but houses further away from town would usually demand to be of larger size," says Bobby Sachdej, Principal Broker for Landmark Realty Group & Services. "Tumon, Barrigada Heights, and Harmon Loop are top locations due to being central to most places of employment, desirable schools and school activities, entertainment, medical and dental care, shopping, and the airport," adds Toni Johnson, REALTOR® with Century 21 Management. For some buyers, house size is more important than specific location requirements. A family of seven is probably not looking for a two-bedroom condo in Tumon even if it has a "spectacular view". For almost all buyers, price is generally a foremost concern. You can't buy a $750K home when you have a $35K annual household income. With so many variables intertwining, your average home buyer might wonder where to begin. Here is a simple snapshot of "What you get for your money".
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PRICE RANGE $200,000-$300,000 With median house prices over $200K, there isn't an abundance of single-family homes in this price range. Often, you will be looking at an existing home as opposed to a new build, and smaller square footage. Condos and town homes are good option at this price point. Dededo: For just over $220K, a buyer can purchase a renovated townhouse in Las Palmas with 3-beds, 2.5 baths. Yigo: The mid-$200K can buy an updated 3-bed, 2-bath townhouse in the ever-popular gated community of 12 CasaGuam ◆ August 2008
By Janiece A. Sablan
ell it would depend if I was buying a home for myself or for investment purposes. Each person has their own preferences. For investment I would buy a home that is centrally located with a minimum of 1700 sq. ft with 3 bedrooms, fix the place up and give it some curb appeal and put back on the market for rent. Between Nimitz and DEDEDO. This would include Mangilao and Chalan Pago. The Neighborhood is very important. As for myself, well it would have to be somewhere where I can build and has a view that would allow for me and my family to feel that ‘WOW, Guam is truly breathtaking’ I am constantly in the hunt for such lots.” -Bobby Sachdej, Principal Broker for Landmark Realty Group & Services
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Perez Acres. There continues to be demand for rentals in this area and the debt service for a loan in this price range can easily be covered by the average monthly rent. Translation-this is a good area for investment. Sinajana: Nearing $300K, expect to find a 2-bed, 2-bath executive condo at Holiday Tower with a gorgeous ocean view and a large balcony to enjoy it on. PRICE RANGE $300,000-$500,000 There is a fairly good supply of homes in this price range from northern to southern Guam. You pick the village.
Barrigada: Brand new 4-bed, 2-bath single family home with 2,200 sq. ft. of living space. Anything with a view in the Barrigada Heights area may be double this range! Tamuning: Closer to the $400K range you can expect to find an attractive two-story home with 1,800 sq. ft. of living space, and obviously, a desirable central location. Dededo: At the lower end of this price range, you might find a 4-bed, 2bath home in Paradise Estates being resold from one of the first three phases. Prices for Phase 4 might be more towards the middle of this range. www.CasaGuam.com
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would definitely consider purchasing a home in Talo Verde Estates. The location is unbeatable, the homes are the best quality around with architectural integrity, a three-acre park, swimming pool, tennis court, 24 Hour gated entry and gated community. This is a "One of a Kind" development. This is the Ultimate Package!” -Toni Johnson, REALTOR® for Century 21 Realty Management.
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If you were to buy a home in today’s market, what village or development would you focus in on? PRICE RANGE $500,000-$750,000 It is no surprise that there are many units available in the lower end of this price bracket. Some critics say too many. This can prove to be a benefit, as more supply means better prices. Tumon: Holiday Manor 4-bed, 2.5 bath two-story townhouse in a fee simple development is a great option in this range. It is just minutes away from the ocean! Pago Bay: This is becoming an increasingly popular area for larger homes. Here, you can find a 4-bed, 3-bath two-story home with a view! www.CasaGuam.com
Talofofo: Spacious homes in the 3,000 sq. ft. range with balconies and high ceilings would be the norm for $500K in this village. PRICE RANGE $750,000-$1,000,000+ This price range will get you a premium location with top-of-the-line appliances, fixtures, and amenities. It will also get huge square footage in places like Talofofo or a fantastic ocean view in a luxury condo in Tumon. If you've got this kind of money, you will find numerous attractive options available through your REALTOR®.
Barrigada Heights: Brand new, gated, 5-bed, 3-bath with ocean view, modern kitchen and gorgeous Spanishstyle design. Asan: Panoramic view of ocean and city with large balconies to take advantage of these views. In the million dollar range, a large house with an ocean view is not uncommon in this village. Tamuning: Several homes in this popular central village are listed over the million dollar mark. Well-designed houses with water tanks, large generators and garages are typical in this market segment. Where will you find your very own piece of residential gold? Deanna Palmer, REALTOR® for RE/Max Diamond Realty advises buyers, "Get to know the market. It is easy to become familiar with the market through the public Multiple Listing Service (MLS). It does not give you the addresses, but if you use the search criteria and include the village, at least you will be getting information close to the area you would like to live in. You can search by number of bedrooms and bath, village, price range and square footage. And, if you have chosen an agent, they can send you additional information when a new listing is added. Only REALTORS® can provide this service to you, because we are a part of the Guam Association of REALTORS® and members of the MLS system." Finding the right home is one huge task. The other is finding the right lender and mortgage. The Hunt for Financing Despite median home prices being at an all-time high and concern over lack of options for people with purchasing power at the lower to middle price ranges, there are still options out there. With an open mind and a little help from a knowledgeable REALTORS®, buyers can find their very own gold nugget in today's real estate marketplace. For many people, the major hurdle is financing. Again, a little bit of research yields some great options for those who may not qualify for mortgage loans through regular banking institutions. At Guam Housing Corporation in the ITC Building, loan programs are available for those who do not qualify for a bank loan. The five major loan programs August 2008 ◆ CasaGuam 13
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If you were to buy a home in today’s market, what village or development would you focus in on?
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uying a home depends on each and every individual. You just have to depend on your gut feeling and your deep pocket in order to buy a home. It will increase in value any anywhere you buy. Again, that depends on the individual. If I were to buy a home, it would be in the central area.” -Suki Nicole Sul, VP, Real Estate Guam
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offered are: the Regular Loan Program, the Six Percent Loan Program, and the Community Affordable Housing Action Trust (CAHAT), Leverage Loan Program, and the American Native Loan Program. All loans vary with interest rates and criteria. The Regular Loan Program offers residential mortgage loans to families and individuals who are first time homeowners to buy or construct. Current interest rate is 7.5% for a 30 year term. Six Percent Loan offers a 6% interest rate for 30 years; however, maximum loan amount is just over $200K. The Community Affordable Housing Action Trust (CAHAT), is a unique interest free second mortgage designed for buyers who lack down payment resources. Maximum amount for this loan is $40,000. The Leverage Loan Program offers joint financing through Guam Housing and Rural Development with 100% financing, low interest rates, and 33-38 year terms. Chamorro Land Trust properties are eligible, although Dededo properties are ineligible. American Native Loan Program offers loans to veterans who are Chamorro Land Trust recipients. Mary Guerrero, Loan Administrator for Guam Housing Corp., explains, "We are not here to compete with banks. We [offer] complimentary programs for those who cannot qualify for loans through conventional means.
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Feature We walk people through the entire process and provide education." Robert Paulino, Mortgage Manager explains what Citizens Security Bank has to offer buyers who would qualify for mortgage loans at regular banking institutions. Paulino says, " the popular mortgage programs currently are financing with private mortgage insurance, 100% VA financing and stacked financing at 80/10/10. These programs have adapted to Guam's real estate market demands. Due to the increase in home prices, many borrowers are unable to meet the traditional 20% down payment requirement. So buyers are having to explore the financing options with private mortgage insurance "PMI" up to 95% financing or 100% with VA for eligible veterans or 10% down payment with a first and second mortgage". "For first time home buyers with lower incomes, we can offer conventional financing or USDA's Rural Development Guaranty 100% financing. For investors who plan to flip a house within a year, we offer investor financing for 1 to 4 unit properties. With Citizens Security Bank most investors only need to 20% down payment. Our conventional financing maxes out at $625,500 with Freddie Mac and Fannie Mae, however, we can offer jumbo financing for purchases above this limit based on the client's overall qualification and other lending conditions," explains Paulino. There is a property out there for you and lending options to help you get it. Happy house hunting!
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If you were to buy a home in today’s market, what village or development would you focus in on?
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f I had the money, The Piti Ocean View House for $615,000; Tasi 17 condo for $1,000,000 is a great deal or Villa Kanton Tasi for Beachfront at $1,600,000. Well, maybe someday, but in the meantime, I’ll sell them.” -Deanna Palmer, REALTOR® for RE/MAX Diamond Realty
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From the Experts
Selling Your Home Today with The CARMEN System By Carmen Mesa
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omparative Market Analysis.
Carmen Mesa REALTOR® Today’s Realty
s a licensed and seasoned REALTOR®, Carmen Mesa has encountered many owners that are not aware of the processes involved in selling their home. It may appear quite easy to try and sell your home on your own but we would like to share with you some of the benefits of the methods used by Carmen when selling your home. Carmen affectionately calls her unique results driven program, The Carmen System.
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What is the CARMEN system?
Award winning REALTOR® Carmen Mesa is a REALTOR® with Today's Realty and can be reached at 777-6372 (777-MESA) or by email at carmen@guamhome.com
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She provides her Sellers with a Comparative Market Analysis (CMA) Report. This report gives an idea of what the property is worth in the current market. The report will compare homes that are actively listed for sale, homes that have recently closed, and homes that have recently expired. In order to attract serious buyers the home must be priced correctly. Access to extensive databases provides Carmen with the information she needs to get the ball rolling.
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ction
Develop a plan of action to get the results you are looking for... a sold sign in your yard and cash in your pocket.
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esults
In order to achieve optimum results Carmen will stage your home to encourage buyers to visualize the property as their OWN. This very often overlooked step in the home preparation process is very important to achieve a buyer early in the marketing period.
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aterials
Getting your home ready to sell must also include making sure the title to your property is clean. You would be surprised at what might 'pop' up. Carmen will review any documents you have on hand such as old appraisals, maps, deeds, utility bills, tax bills and any other documents that may have the answers to a prospective buyer's questions.
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xposure
Carmen's systems are designed to expose your property to as many potential buyers and their agents in the shortest period of time possible. Some examples of tools that she uses include newspaper/magazine ads, banners, tv ads, flyers, real estate company websites, open houses, and radio ads. As an added an unique bonus, Carmen also promotes your property directly to all 350 plus REALTORS that are members of the Guam Multiple Listing system.
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egotiation and Closing
When offers come in Carmen will be there to work with you to negotiate a purchase on terms and conditions that are in your best interest. Once a contract has been agreed upon, we will work together to clear any matters that pop up (believe me they do!) and then close on the transaction. Selling your home is serious business! You do have choices in how you go about this very important task. Call Carmen today and let her Carmen System work for you.
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Profile
In Passionate Pursuit “Dream Achievable Dreams.” The 24/7 job of owning and running his own restaurant took a toll and he was advised by his doctor to take a break. That break led him to a laid-back tropical island in the Pacific where his brother Kiko was running JJ Moving Company.
Alfredo Bustamante Team Leader Edge Realty
The laid-back life didn’t last long for this self-professed “work-a-holic”. He was back to a hectic schedule as the manager for Al Dente restaurant at the Hyatt. He quickly realized that he was back to square one with the 24/7 work weeks and knew that he was not meant to be a “worker” for someone else. It was at this point that he met two local real estate icons, Anthony Godwin and John Lee, who gave him his first opportunity in the industry. “I look up to them. There was always something to learn. They are good friends with good ethics,” says Bustamante.
Alfredo Bustamante Team Leader Edge Realty
Education BS Campbell University, S. Carolina Currently pursuing a Master’s Degree in Business Administration from the University of Phoenix, AZ
Family Wife: Monica Children: Francesca (19 mos.), Sebastian (4 yrs.), Mafer (14 yrs.), Giacomo Fabrizio (coming soon!)
Most memorable real estate moment Opening Edge Realty because it was a dream fulfilled
Hobbies hen Alfredo Bustamante was a young man in line at a Jack-inthe-Box trying to order lunch with limited English, and was rudely pushed aside by an impatient cashier, he made a life altering decision.
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Bustamante immersed himself in the English language which he learned within ten short months. After this feat, he realized that he could do anything he put his mind to. This was the beginning of the many lives that have led this native of Peru to Guam. The hook of “Be all that you can be” led Alfredo from a career as a professional soccer player to enlist in the Army. The Army was his stepping stone into college where he graduated with a bachelor’s degree from Campbell University in North Carolina. Next, he worked in the banking industry in Chicago and in a chance encounter with a friend who was selling a restaurant, Alfredo became a restaurateur. He had found his true passion in life, gaining rave reviews for his unique Italian cuisine and customer service.
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In a short time, he realized that he was ready to break out on his own and proposed a partnership to local attorney, principal broker, and inspiring friend, Cesar Cabot. Today you can see Edge Realty right off Marine Corps Drive in Tamuning. Not only is his office high profile, but his marketing strategy focuses on keeping highly visible and definitely staying outside the box. From his cutting “edge” website, to his commitment to his clients, Bustamante has definitely differentiated himself.
Spending time with my family by going to the movies, to the beach and especially to church
If I weren’t in the Real Estate Industry, I’d be… Running my own restaurant
He attributes all of his achievements to God as he leads a Christ-centered life. Bustamante beams about the great things happening with Edge Realty and the great team he works with. His greatest joy; however, comes from spending time with his wife Monica and their three children. As the icing on the cake for this already happy life, he is expecting his fourth child on August 28th! Bustamante has many big goals. “I like to dream—achievable dreams,” he says. This is not the last we’ll see of Alfredo Bustamante, especially since he has a 12 foot sign up at in just about every village on the island!
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# 3R Incorporated 3V's Construction 4J's Equipment, Inc. 5M Construction Corporation
A A. Cayanan Construction A.B. Mer Construction Corporation A.C. Plumbing Contractor A.D.A. Fire Alarm A.D.C Construction Co. A.F.A. Construction Inc. A.M.V. Construction Co., Inc. A.S. Miranda Const. Co. A.V.A Electrical Constructor & Services A.Y.K. Corporation AAE Landscaping Abe's Painting Access Builder Ace Builders, LLC Acme Universal Inc. ACR Electrical/Mechanical Advance Electrical Services Advance Management, Inc. Advanced Electronics Service Adventure Divers, Inc. AES Construction, Inc. AG Pacific Tech LLP Agate, Inc. Agbayani Construction Corporation dba: ACC-AIR AGV Construction Company AIC International, Inc. Aircraft Service International, Inc. dba: ASIG AJS Electrical Services Akira Hattori Alcast paint company Alex Thomas dba; Guam Cleaning Masters Alfred Saguid dba: Al's Construction All Business Enterprises, Corporation Allan MacCormack Allied Builders Engineering & Const. Allied Pacific Builders, Inc. Allied Pacific Environmental Consulting Almario Gatmaitan dba: Guam Metal Work & Welding Services Aloka's Home Improvement & Construction Amazon Construction, Inc. Ambience Builder American Black Dragon, Inc. American Painting America's Best Electricmart, Inc. AmOrient Contracting, Inc. Anam Construction Angel Loyola Anita Quenga dba: Mianna General Construction Co. Antonio Chargualaf dba: C. Construction Aries Plumbing Service Ariven Olamit dba: Ariven Construction Armando Ilagan dba: AMI Builders Arms Construction & Welding Service Arnel Castro dba: AMC Painting & Construction Company Asan Corporation Asanuma Construction Ltd., International Asanuma Corporation Asia & Pacific development Corporation Asia Tiger, Inc. dba: Asia Tiger Construction Asia-Pacific International, Inc. Aslcon Company Astec Builders Co.
B B & R Construction Corp. Bang Sahn Trung Construction Bascon Corporation Base Corporation
Base Tech Corporation Basilio Palomar dba: BMP Construction Baton Builders Inc. Beacon Construction Co. Becco Guam ,Inc. Beck Enterprises Bejjess Enterprises, Inc. dba: GEMCCO Belfor USA Group, Inc. Ben Lujan Towing, Inc. Big Ben & Company Big Boy's Heavy Equipment Rental Bing Hua Construction Inc. Black Construction Corporation Blue Legend Ltd., Inc. BME & Sons, Inc. BMP Construction Bob's Nursery Bolson Builder's Guam Bong Ho Kang dba: Junny Pacific company Bong Jul Corporation dba: Sun Jin Heavy Equipment Rental BQ FirePro, LLC Brian Chen Brique Construction Inc. Budazu Electric Bueno Builders
C C & L Construction C L and Sons Co., Ltd. C.H. Equipment Rental & Construction Cable Constructors, Inc. Cabuhat Inc. dba: Cabuhat Tech. Services California Pacific Technical Services LLC Calvin Arii Camacho Family Partnership\ Camelot Corporation Candilaria Construction Canton Consruction Corp. Carrier Guam, Inc. Cascade Pacific LLC CBS Alacom, Inc. CD Electric Cedar Construction Change 21, Inc. Chang's Appliance Co. Chavez & Co. CHB International, Inc. Chen, Zong Ben China State (GUAM) Inc. dba: C.S. Builders Cho chang Yong dba: CCY Construction Choi's Appliance Repair Chou's Enterprises Co. Chu Ung Kim dba: C.U. Construction Co. Citi Development & Construction Inc. CJC Enterprises, LLC dba: CJC Fire CMD Enterprises, Inc. Cobow Pacific LLC Concrete Solutions, Nc. Construction & Power Sources, Inc. Cool-biz Core Tech International Corporation Corona Electric Co. Corp. Tech-Rite Builders, Inc. Costudio c. Calilung dba: Triple C Builders Craig A. Camacho dba: Pacific Concrete Coatings Crisanto Q. Coles dba: CQC Builders CSB Construction Cura's Painting Co. Custom Quality Home Builders Cybertech Holdings
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D D K Builders Corporation D.B.P Construction Da Eun Pacific Dae Kyoung Jun dba: Dae Kyoung Construction Dae San Corporation Dae-Seng Construction Dahong Development Corp. Ltd. Dallas Berringer Danny Construction Danny Park Da-Ri Trenchless Tech. Int'l Corp. David Loughlin dba: ACR Electrical & Mechanical DB's Builders Inc. DCK Pacific LLC Dekay A/C & Refrigeration DEMD Construction Dennis Lee Hiatt dba: Brando's Painting & Interior Design Detry Corporation DH Welding Dick Pacific Construction Co, Ltd. (GUAM) Dick Pacific Construction Co., Ltd. (Guam) dba: Bishman continental Services DL & C Corporation Dong Yang Corporation Doosan Engine Co., Ltd. Double JJ Construction, LLC Doug La Coste Duran's General Const. DZSP 21 LLC
E E & D International Corporation E T Construction Inc. E.P. Valencia Builders Earth Tech, Inc. Ed Tiamzon Construction Eddie Gomez dba: Prime Pacific Builders Edilberto Serrano dba: Ed Serrano Pro Builders Electrical Contracting Corporation of Guam Electrical Technology Design Inc. Eliseo Gomez dba: Ela Builders ELMEC ELR Airtech Emission Technologies Inc. Energytech Electric Co. Enrique Cruz dba: ITI-Electric SignCo. Entity Construction Inc. Envirochem Inc. dba: Burke Engineering Eons Enterprises Corporation Equatorial Manufactory Inc. Ernest Nelson dba: Greenscapes Estella's Refrigeration & Air Conditioning Service Eureka Construction Corporation Ever Green Construction Guam, Inc. EVM Construction, Guam Expressive Line, Inc. dba: Express Signs & Graphics
F FACS Incorprated dba: FIRE-COMM Falcon Fire Protection Far East Construction Inc. Fargo Pacific Inc. Fei Da Corporation Fentress Refrigeration Service Co. Fernando Erese dba: Hydroaire Mechanical System Fidelity Const. Corp. Fine Development Corporation Finish Dimensions, LLC Flex Builders, Inc. Fojas & Sons Construction Company Four Points Global Services FPG Construction & Services
Franklin A. Rios dba: Moto X EQ. Rental Frederick Martin dba: Sunshine Paintin & Construction Fren's Construction FSS Corporation dba: ELDS Konstraksion Fujimak Guam Corporation Fujitec Pacific, Inc. Fusheng Wang dba: Fusheng Construction Co. Future World Corporation FY Construction Co.
G G Construction company G-Pem E&C Guam Inc. G.C. Gozum Construction G.K.I. Corporation Ga'-Ga' Inc. dba: Pestex Garden Group, Inc. Gene Salo Contractor General Pacific Services, LLC Geo-Engineering & Testing, Inc. Giant Construction Corporation Glass Concepts, LLC Global Construction Gloria Mariano dba: Triple K Construction GMS Painting Division LLC GNK Enterprises, Inc. Golden Bay Inc. Golden Stone Construction Gomez Bros., Inc. dba: Mako Diving & Salvage Goodfellow Bros., Inc. GPPC, Inc. GR Construction Co. Green Environmental Management & Solutions, LLC dba: GEM Solution Greg Abinales dba: GME. Guam Groupa C & E Service GSP Co., Inc. Guahan Star, Inc. Guam Advance Pest Control Guam Cablevision, LLC Guam Central Air Corporation Guam Construction Co., Inc. Guam Contractors Management and Construction Services Guam Exterminator's & Construction, Inc. dba: Guam Exterminators Guam Glazing Contractor Guam Gold Star Corporation Guam Industrial Services, Inc. dba: Guam Shipyard Guam KC Construction Guam Pacific Power Corporation Guam Residential Construction, Inc. Guam Steel Services, LLC Guam T & Y Corporation Guam Tropical Landscaping, Inc. Guam Yooshin Corporation Guam YTK Corporation
H Habitat for Humanity of Guam Hafa Adai Trucking Services Hagens Inc. dba: pacific Pest Control Han Kang Corporation Hana enterprises (GUAM0, Inc.) Hanil Engineering & Construction Co., Ltd. Hanil Resorts (Joint Venture) Corporation Hanjin Heavy Industries & Construction Co., Ltd. Han's Construction Corporation Hari Construction company Inc. Harty Incorporated, U.S.A. Hattori Home Improvement & Plumbing Service Hawaiian Rock Products HD Guam, LLC Hee Woo Lee dba: HW Lee Construction
Henry Fu-heng Wang dba: Wang's Repair Service Hexa Construction High-Rise Builders Corp. Highway Safety Services, LLC Hiller Enterprises Ho Won Kang dba: Sung Bin Construction Hoe Mo Kim dba: Guam Cool Spot Construction Hoku-Sino Guam, Inc. Hon Tai Corporation Howard Burkholder III dba: Improvements Plus Hubtec International Corporation Hyong Jin Construction Hyosung Construction Hyun Hee Construction
I I.J. Construction Ian Corporation Ideas-Plus Creative Solutions Iner-Tech Buidlers, Inc. Innovative Renovations International Bridge & Const. Marianas, Inc. International Bridge Corporation Intratech Innternational, LLC Isabana Corp. Isagani Baluyut Construction Isla Pacific Telecommunications Isla Wire and Telephone Island Essence dba: Molecular Construction & Development Island Paradise Construction Corporation Island Roofing Company Island Woodwrights IT & E Overseas, Inc.
J J & R Const. Corp. J.C. Electrical Services J.C. Serrano & Co. J.PH. Construction J.S. Construction J.S.L. Construction J.T. Angoco & Sons, Inc. Jack and Sons General Construction Jack Hammer Builders, Inc. Jae Enterprise Incorporated dba: Tano Construction Company Jaime Deloso dba: Powerlight Electric Construction (PELCON) Jam Construction Guam James E. Moorehead Jr. dba: E M Enterprises James Ji dba: J.D.K Construction Jason Chiu dbfa: CRDC Co. Jay Corporation JB Service Jebun Builders Jeffrey Santos Jei Il Construction Jejobele Construction, Inc. Jem Builders JHC Corporation Ji, boo Young dba: JBY Rental Jian Hua Construction Inc. Jimi K Construction Corp. dba: I.T.D. Jin Jin Construction Co. Jing Z. Wang dba: Charlie Builders Jins Construction Company JJ Global Services/ JK Lee Construction JM Sandblasting and Painting JN Corporation dba: JNL Construction & Communications John David Ishmael, Sr. Johndel Construction & Dev'l. Corp. dba: JMI-Electrical & Air Conditioning Jones & Guerrero Co., Inc. dba: J & G Construction www.CasaGuam.com
Jong Jin lee dba: Nova International Jose R. Mapalo dba: J.R. Mapalo Equipment Rental Jovi's Plumbing Service JPB Construction JPL Construction Inc. JR Applications, Inc. JRN Air-Condition & Refrigeration, Inc. JSD Construction Inc. JSK Construction JSK Heavy Equipment Rental JSW Inc. JT & LI Corporation Julio Gonzales dba: Manufacturing Modular Home Jums Construction Jung Woong Lee dba: Precision Crane Rental Just Rush Inc. JWK Korea Ltd. JWS Refrigeration & Air Conditiong Ltd.
K K & W Construction Services K.C. Reed Construction and Maintenance K.E.Y.S. Construction K5 Development, Inc. Kak Hyun Han dba: Han's Appliance Repair & Service Katrein Plumbing Service MC Paulino, Inc. dba: JMC Equipment Rental Kautz & Sons Glass Co., Inc. Keith Wenzel dba: Sundance Construction Ken's A/C & Refrigeration Keum Yang Corporation Kevin & Steve Corporation Kim Bros. Construction Corporation Kim Ironwork Shop Kim Sung Bo dba: Jung In Company Kim's Appliance Kim's Equipment Rental Kinden Corporation Kinden Pacific Corporation Kindo Electric Kingdom Construction Kingdom Enterprise, Inc. KLSO Construction KNA Construction Kokuba(Guam) Corporation Konstrak Builders Koolit Guam Korando Corporation KSS Corporation Kusakabe Guam, Inc. KWM Corporation Kwon, Oh Young dba: Musso Construction Kyong Ki Corporation Kyung Hoo Song dba: Uno Construction Kyung Suk Chung dba: C-Max Construction
L L & K Communications L.P Ganacias Enterprises, Inc. LA Painting & Construction Co. Lamberto Manlutac dba: L.G. Manlutac Construction Larry A. Barrecante dba: B.L.P. Construction Larry Mijares dba: LMM Construction Company Latte Investment Inc. dba: Latte Builders Layao Enterprise Leby Construction company dba: LBCC Elegant Builders lee, Young Sook Legend Pacific Corp., Ltd. Legend Stone Corp., Ltd. Leighton Contractors Inc. Leo Brady dba: Island Elevator Leo Construction Co. Leo Oasay dba: Leo's Electrical Contractor & Services Leo Sison Equipment Rental
Leonardo C. Canlas dba: Clifford Electric L. G. Manlutac Construction Leonard's Plumbing Service LMM Construction Co. Low Cost Builders Loyal Pacific Corporation Lucky Dragon Development Co., Ltd. Lusmik Construction LVI Environmental Services, Inc.
M M Electric Corporation M.C.R.M Construction Co. M.D. Crisostomo, Inc. M.E. International, Inc. dba: Solcom M.L.D. Construction M.L.G. Rental M.S. Construction Co. M2P, Inc. M-80 Office Systems Maeda Corporation Maeda Pacific Corporation Maeda Road Construction Co., Ltd. Malcolm F. Stiles Mammoth Construction Company Manuel Rodriguez dba: M.S.R. Electrical Co. Marcelino P. Inciong dba: Four Square Construction Marianas Drilling, Inc. Mario Calma dba: Guam MTB company Masoud K. Teimoury dba: Masoud & Company Master Contractor Mauro Joaquin Maximo Ocampo Jr. dba: Max Constrution Co. Maxx Air Conditioning Mechanical Tech Group, Inc. Mechanical, Electrical & Refrigeration Contractors, Inc. Medi's Air Conditioning and Refrigeration, Inc. Mega United Corp. Melrose Guam Inc. dba: M & R Builders Mercon Guam MGS Construction, Inc. Michels Corporation MJ Gentech MJM (GUAM) International Modern Konstrak Motorola Sales and Service MS Builders, Inc. dba: Fencemasters MS Consultants MSE Builders
N N.D. Construction Builders Nakae Realty Inc. Net Guam, Inc. New M.W. Corporation New South Pacific Corp. Newton Passaue Nexus Environmental Group Nghia Corporation Nichilon Nippo Corporation No Ka Oi Termite & Pest Control (Guam) Noel G. Calaguas dba: NNC Builders NTG Corporation
O Oceanan Technical Services LLC OG Enterprise Onwish Corporation (Guam) dba: Applied Buidling Automation Supplied & Services Orion Construction Corporation (GUAM) Otis Elevator Company Our Lady of Peace Memorial Gardens, Inc.
P P & C Corporation P & E Construction, Inc. P. Tugan P.C. Carlos Construction Corp.
“INACTIVE CONTRACTORS” CANNOT PERFORM ANY WORK.
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P.E.P Construction P.I.C. (Guam), Inc. PacAir, LTD. Pac-Eastern Dragon Inc. Pacific American Millworks, LLC Pacific concorde Development, Inc. Pacific Drilling Inc. Pacific Elevator Company, LLC Pacific Guam T.V. Repair Pacific Industrial Coatings Pacific International (Guam) Inc. Pacific International Development Corporation Pacific Jeil Corporation Pacific L.P. Gas dba: Pacific Armor Service Pacific Max Corporation Pacific Modair Corporation Pacific Plumbing & Air Conditioning Pacific Refrigeration Pacific Services & Logistics Support, Inc. Pacific Technical Services Guam, Inc. Pacific Termites & Pest Control Co. Pacific Trucking Guam Inc. Pacific Union Construction Pacific Yousheng Corp., Ltd. Pacifica Gardens Pac-Tek, Inc. Painting Dynamics, Inc. dba: Construction Dynamics Pan Dol Park dba: P.D. Construction paragon Construction Inc. Park's Construction Patrick Leon Guerrero dba: Bug Out Pest Control Paul Faasen dba: V.F. Welding Paul Fernandez dba: P.C.F. Builders Paxia Builders, Inc. Perez Bros., Inc. Phil-Gets (GUAM) International Trading Corp., dba: J & B Modern Tech Phoenix Pacific (GUAM), Inc. Plus marketing, Inc. Polyphase System, Inc. Port enterprises (Guam) Inc. dba: DAIKIN Premier International Inc. Primo Caburian dba: Appliance Pro Primos Heavy Equipment Rental Services Pro Rental Promptcom PTI Pacifica Inc. dba: PTI Pacifica Public Utilities Maintenance, Inc. PW Investment Corporation
Q Q Star Corporation dba: Any Construction Quality Business Machines dba: 5NG Construction Corp.
R R & C Corporation Radix Construction, Inc. RAS Builders Raul Varcas dba: Rocky Construction Company RCT Corporation Reaction Co. Reca Construction Service Red Stone International, Inc. Reliable Builders, Inc. Reliable Equipment Corporation Renato Valdez dba: Technology 2000 Rex International RGT Construction RH Refrigeration & Air conditioning Ricardo G. Navarro dba: RGN Construction Richard Burkhart dba: Burkhart Minor Electrical Repair Rico's Genera Construction RN Earn Power Robert Delos Reyes Robert James International, Inc. Robert Leon Baker, Jr.
dba: Todo Mauleg Porta Toilet Rental & Service Rocky Mountain Precast, LLC Roma Construction Company Romeo De Vega dba: Mel's Electrical Contractor Romeo Mariano dba: Mariano & Sons Backhoe E-Rental Rong chang Limited Company, Incorporated Roofing constructors, Inc. dba: Western Roofing Service Roofing constructors, Inc. dba: Western Roofing Service RS-One Builders R-T Builders RTM Services Inc. Rudy's Plumbing Services Rufin S. Perez RYK Corporation
S S & J Heavy Equipment Rental S I P Guam, Inc. S.B. Corporation S.E.T.-Pacifica, Inc. S.G.M. Construction S.H.K. Construction S.J. Skerritt Construction Co., Inc. dba: Control Technology S.K. Construction, Inc. S.M.D. Corporation S.R. Ma's Construction Sabuya Electric Companys Sam-Duk Corporation San Martin Development LLC Santiago Corporation Securitech Solutions, Inc. Segyero Corporation Serrano Const. & Dev., Corp. Shaun's Refrigeration & Air Conditioning Shodensya Co., Ltd. Sign King Siwoo Corporation Sky Jeong Construction SMCC Guam Inc. Smithbridge Guam Inc. Soo-Ik Chang dba: Seung guang Construction Co. Southern Island Corp. Specialized Technologies Services Spectrum Electric, Inc. Sphere Construction & Services Spring Equipment Rental Co. SRD Builders Standtion Inc. Star Delta Electrical Steven Corporation Suk Namkoong dba: SYD Company Sumitomo Mitsui Construction Co. Ltd. Sun Electrical Service Sung In Construction Super Seal Construction Company
dba: TNK Guam Tong Zhou Construction Corp. (Group) Guam Tony's Workshop Top Builders Top Interior Corporation Trane Export, LLC dba: Trane Guam Transrama Guam Inc. Trench Towers Tridon Corporation Triple L: Construction, Inc. Tudor Construction Co., Inc. Tumon Corporation Turner International (Guam) Construction, Inc.
U UCC (GUAM) Enterprise Corporation Ul H. Construction UMS Heavy Equipment Rental Uniarc Uniss Enterprises, LLC United E Construction United E Construction United Mechanical United Micro Construction United Overseas Investment Co. Universal Maintenance Urethane Services ( Guam) Uri Schallhorn Utilities Services Specialists, Inc.
V V & B Enterprise Valiant Fire Protection VB Diez Ref. & Air Conditioning Vector Construction Vector Works Corp. Very EZ Construction Victorino c. Cabinta dba: VRM General Contractor Victory Construction Vision Construction Company Inc. Vital Builders Vital Technology Vivian Tapang dba: Arvin Builders VOS Construction VRG Construction Corporation
W
T Tanglao General Contractor Tanza Construction Company TDH Incorporated Tech Plus, Inc. Technical Construction Group Inc. Techni-Con Inc. Teddy Reyes dba: Astec Builders Company Tem's Bulders Teng and Zeng Enterprises dba: Min Jian Construction The Americana Group Inc. dba: The Carpet/Store/Americana Suppliers The Free Company, Inc. The Infiniti Group, Inc. dba: Aliance Metal Specialties THK Construction Thomas Lemerand dba: Choice Drywall Tianjin Incorporated Tir-Con Corporation TJI Air Conditioning TMYC Green Thumb Landscapers Todd Olson dba: Valley View Construction Tonets Corporation
Wade D. Mailloux Wang K. Construction Company Watts Constructors, LLC West Enterprises, Incorporated Western Pacific Electric, Inc. Wilfredo S. Meneses dba: WSM Construction company Wilfredo S. Meneses dba: WSM Construction company Willcon General contractor William Kim dba: Kim Do Company Willie's Appliance Home Service Windward Service Center Wood Joints Woojung Construction, Inc. World Electic & Construction Company Inc. dba: WECCO
Y Xiang Wang Construction Corp. Xing, Xiao Jian Xingbo (Paul) Yu dba: P.H. Construction Yin Electrical A/C & Refrigeration Youdong Equipment Rental Co. Younex Builders Corporation Yun Shing Guam Corporation Yun Soo Construction Yury Construction Company
Z Z4 Corporation Zheng's Corporation Zhneg Ha, Inc. Zhong Bao Construction Company Zhong Ye Inc. ZMC Corporation Zong Ren chen
To find out whether or not the contractor you have chosen is in good standing, please contact CLB office for further information at 649-9676
August 2008 ◆ CasaGuam 29
Who Ya’ Gonna Call
30 CasaGuam ◆ August 2008
www.CasaGuam.com
Classified Residential Sales Dededo MFD 3 Bd/2Bd/1 Bd Front Park, Nr Sta Barbara Church; Close to schools, stores and many more. Up to $40K/yr income opportunity. FSBO. Serious inquiries only! Call 632-1200.
Piti Nimitz Hill Home On 1100sqmtr 3bed 2 Bath Located Next To Million Dollar Homes. Build On For Oceanview $300,000. Call Rena Borja 687-7362
Tamuning Beverly Palms - 2bd/1.5ba $165,000 Call Esther 688-6787. www.islandrealtor.net Pacific Towers Condos Starting at $68K Renovated, C-Tiles, Pool, Security Call MACKS Realty at 646-9870 SC PB
Tumon Pia Marine Condo 2 Bd/2 Ba - $180K Panoramic Ocn. View, Renovated, Modern Furn, Pool, C-Tiles, Excel Cond. Call MACKS Realty at 646-9870 SC PB
Land For Sale Agat C-Zone 906 Sqm Central, Close To Kimchee Store, Great Investment Only $95k. Call Nilisa Arnold @ 777-3335 / 727-3335 / 482-5551
Asan 2137 Sqm A-Zone Great Valley View Build Your Dream Home $165k. Call Rena Borja 687-7362
Mangilao 3 Adjacent Lots On Eba Road R-1 Zone 1562 Sqm $80k Each. Close To Schools, Restaurants. Utilities Nearby. Call Cathi Beam 689-3492
Talofofo Talafofo Oceanview land–34,146SqM $1,195,180. Call Esther 688-6787 www.islandrealtor.net
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Upper Tumon Across Driving Range, Near Pia Marine R-1 8645sqm, Fenced $1.3m. Call Cathi Beam -689-3492
Rental Properties
MongMong Toto Maite Oasis Apartment Studio - $550 A Must See! Full Kitchen & Appl. Prof. Design & Remodeled, Includes WATER Call MACKS Realty at 646-9870 SC PB
Ordot
Asan 3br/2ba Wshr/Dryer Ceiling Fans Aircon Stove/Fridge Wall To Wall Cabinets Minutes To Town Polaris Pt. Call 689-3492 Cathi
Dededo Good Location! 2Bd /1Ba w/ Ref/Oven/ Patio/Fence/front Park; nr church, walking distance to schools, market & many more! Call 632-1200.
Hagatna
Apusento Gardens 2/2. Pool & Playground. $750. Call Horizon Properties, Inc. 646-7616.
Piti 2br/1ba Apt in Piti. Partial Ocean View. Renovated. Near stores, across from beach, with cool breezes. Ocean Breeze Apts. $600 649-8265 or 888-7447.
Tamuning Pacific Towers Condo 1 Bd/1 Ba - $750
For Lease Newly Renovated 7,361 Sqft 2-Story Comm Bldg Marine Corps Dr Frontage. For Showing $14722 Call Toni 482-4663
Renovated, Unique, Modern Open Fl. Plan,
For Lease ! 3050 Sqft 3-Story Near Courthouse. Flexible Terms $6,100/Mo Call Rena Borja 687-7362
Royal Gardens 2/2, $1700, 3/2, $1800 for
Inarajan 3br/2ba Wshr/Dryer Ceiling Fans Aircon Stove/Fridge Quiet/Private Abundant Fruit Trees Call Rena Borja - 687-7362
Mangilao 3bd/2ba Condo close to both bases, and a walking distance to schools,remodeled kitchen w/ dishwasher & pool to enjoy. The unit is in an excellent condition. Please contact Tara 482-2074 or 483-7056 $1700/m
New S/S Appliances, Includes WATER Call MACKS Realty at 646-9870 SC PB
rent. Pool, Tennis Court, BBQ area. Call Horizon Properties, Inc. 646-7616. Beverly Palms - 2bd/1.5ba $1500 Call Esther 688-6787. www.islandrealtor.net
Tumon 3br 2ba Condo for rent $1900 w/ oceanviews. Rarely available. Near beaches, shopping & restaurants. New kitchen and Bathrooms 649-8763 • galvin22@hotmail.com Pia Resort Condo Studio - $875
2 Bedroom One Bath Greenpark Central Air Clean Includes Appliances. $750/Month Call Rena Borja - 687-7362 Brand New Single Family Home 3/2.5, near UOG and GCC. Double Whirlpool tub, 2 car garage and outside bathroom. $1,995 obo Call Horizon Properties, Inc. 646-7616.
Spacious, Kitchenette, Fully Furnished Includes POWER, WATER & BASIC CABLE Call MACKS Realty at 646-9870 SC PB Pia Marine Condo 2 Bd/2 Ba - $1250 Exhilarating Ocn. View, Renovated, C-Tiles, Pool, Fitness, Tennis, Bk-up Generator Call MACKS Realty at 646-9870 SC PB
August 2008 ◆ CasaGuam 31
Closing Message from the Executive Officer Guam Association of Realtors®
The Voice for Real Estate on Guam
Peggy Araullo Llagas
Honesty. Integrity. Commitment. As a Homebuyer or Seller, that’s what the REALTOR® Code of Ethics means to you. Buying or selling a home is never an easy process. All the different and confusing terms, the huge stacks of paperwork, all the forms that need to be filled out. Although it’s an exciting experience, it can also be a very stressful one. You need someone you can trust. Someone who can put your mind at ease because you know they’re going to do the right thing and act in your best interest. Someone who will protect your rights. When you enlist the services of a REALTOR®, you can be confident that you’re being dealt with honestly. Every member of the National and Guam Association of REALTORS® makes a commitment to adhere to a strict Code of Ethics, which is based on professionalism and protection of the public. The Code of Ethics is a promise…as a customer of a REALTOR®, you can expect honest and ethical treatment in all transaction-related matters. It is mandatory for REALTORS® to take the Code of Ethics orientation and they are also required to complete a refresher course every four years. How does the Code of Ethics affect everyday real estate practices? What does it mean for consumers? If a REALTOR® represents you, whether you are buying or selling a home, you can count on that REALTOR® to: 1. Be honest with all parties in the transaction – not just with you, as his or her client, but also with the other real estate practitioner and his or her clients. For example, if REALTORS® represent a buyer with a spotty credit history, they can’t be dishonest with sellers about this fact. At the same time, REALTORS® can help their buyer clients collect and assemble information, such as credit reports and audited tax returns, to demonstrate that the buyer has addressed the problem and improved their situation. 2. Put your interests ahead of his or her own, at all times. A REALTOR® makes every effort to understand the housing needs of his or her client, thoroughly researches available inventory, and shares all relevant information with the buyer so that he or she can make an informed decision. This service is provided regardless of the compensation available. 3. Disclose all pertinent facts regarding the property and the transaction to both buyer and seller. If a REALTOR® believes information provided by a seller is questionable, the REALTOR® is obligated to investigate. REALTORS® should recommend that buyers consult their own experts, such as home inspectors, to address concerns. For example, if a home seller asks his or her REALTOR® to conceal the fact that the roof leaks, the REALTOR® cannot comply; if the seller insists, the REALTOR® should end the business relationship with that seller. 4. Be truthful in all communications with the public. When REALTORS® distribute newsletters, create Web sites, or place advertisements, they must be careful not to represent other real estate professionals’ work product as their own. If recently sold or listed properties in the community are publicized, it must be clear whether the REALTOR® was actually involved in the transaction, or whether that data came from the local multiple listing service or other source. This ensures that the public understands the REALTOR®’s experience and can make an informed decision when choosing real estate representation.
32 CasaGuam ◆ August 2008
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