Table of Contents Message From GAR
FEATURED HOUSES
Your Personal 19TH Hole Departments 6
Market Report Your comprehensive look at the trends of the real estate market.
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Feature A New Kind of Living
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From the Experts Shopping for a Home? Got Portal?
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Profile Ryan De Guzman “Work – Family – Faith”
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Happy Holidays! It has been an honor to serve as the 2007 and 2008 President of the Guam Association of REALTORS. I was presented with great opportunities to serve the REALTOR members and the community because I Arnold Jose • President was blessed with a strong and dedicated leadership team. I wish to thank the 2008 GAR Leadership Team - President-Elect Steffen Niu who has been a great leader who has served GAR as the Vice- President, Treasurer, Director and has served in many GAR committees. I have absolute confidence in his ability to lead GAR to a higher level of that we have been able to achieve. He is very intelligent and capable professional, but more importantly he is passionate about GAR and all its members. We were able to achieve most of the initiatives that we presented at the Strategic meetings held in January. A special thanks to our Vice-President, Neat Muna who successfully negotiated and achieved GAR’s first Health Insurance plan for the Guam Association of REALTORS and its affiliates. Additionally, we have also been blessed with record membership reaching upwards to 400 members. Many may think that that is way too much REALTORS for this small island that we call Paradise, I believe that this creates opportunity for all by giving us more partners who can compete fairly and ethically to serve the island consumers with higher standards. GAR’s unprecedented Public Awareness Campaign has been victorious, thanks to the tremendous work of our Public Relations Chairperson, Marilou Lacson, and her committee for doing an outstanding job. The Public’s perception of REALTORS has changed from merely real estate agents to compassionate and a caring group of professionals who build communities by helping those achieve the American dream of homeownership and educate and remind the consumers of the advantages of building long-term wealth through homeownership. More importantly, the public at large recognizes GAR as a group whose is always willing to help the less fortunate and support our local charitable organizations.
ARNOLD C. JOSE 2008 President
Guam Association of REALTORS®
Market Place
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Who Ya Gonna Call?
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Classifieds
December 2008 • Vol. 1 • No. 7 CasaGuam is Published by:
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The participation of the members have been nothing less than phenomenal due to the GAR events sponsorship committee. Special thanks to Sponsorship Chairperson, Angie David-Araullo whose charm nonetheless convinced many of our many affiliates to sponsor over $80,000.00 worth of GAR events in the last two years. Her diligence and commitment to GAR and its members is commendable and appreciated. The sponsored events benefited all REALTOR members and the community. Thanks to my 2008 Leadership team-PresidentElect Steffen Niu, Vice-President-Nenita Muna, Treasurer- Bree McDowell, Secretary-Helene Anderson. Board of Directors: Tom Godwin, Nick Captain, Layla Raymonova, Scott Campbell, Diane Lee, Moe Cotton and Christopher Felix. Committee Chairpersons: Community AffairsLoisa Cabuhat and Sue Biolchino, MembershipClare Delgado, Grievance-Frank San Agustin, Jr., Education-Liz Duenas, Legislative-Chris Felix, Federal Political Coordinator-Joy Jose, Moe Cotton-Military Affairs, MLS-Ryan de Guzman, Professional Standards-Louisa Wessling, Public relations-Marlou Lacson, Run for Shelter-Noli Villaverde, Sponsorship-Angie Araullo, Brokers Forum-Nick Captain and Technology-Joseph Pereda. Finally our Executive Officer, Peggy AraulloLlagas whose handling of the day to day operation of a ever growing organization is nothing less than incredulous. I am absolutely proud of her accomplishments as she has brought GAR to highest possible level as a professional organization that our members deserve. Her unparalleled commitment and insatiable thirst for REALTOR knowledge has propelled Peggy to be a prolific and exceptional Executive Officer who is always prepared and, more importantly, able to serve our members well. I am positive that she will continue to serve GAR well and will be bring us yet again to another level of professionalism. Thanks for giving me the chance to serve you and for your prayers, encouragement, friendship and support.
Closing Guam Association of Realtors REALTOR® Code of Ethics
530 W. O’Brien Dr. Hagåtña, GU 96910 Tel: (671) 472-3495 | Fax: (671) 472-3498 email: office@yellowpagesink.com
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Real Estate Listing By Village
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Market Report
Guam Real Estate Market Update Although foreign investment in Guam real estate appears to be temporarily sidelined, local investors have remained confident, limiting the anticipated slowdown in sales activity. The 2008 3rd quarter statistics are relatively robust, reported Nick Captain, President of Captain Real Estate Group, with $99.8 million in sales volume. However, year to date real estate sales volume is down by 41 percent vs. 2007 figures. “We were expecting a steeper decline in activity”, stated Captain. A number of high priced sales involving local buyers kept the market from a sharper fall. “We don’t see the high price sales activity continuing through the 4th quarter and we are projecting another 40 percent decline. The majority of investors remain in a wait-and-see mode, primarily due to global economic volatility and credit issues as well as the local moratorium on development. And keep in mind that 2007 was a very strong year in Guam real estate. Anything measured against 2007 will likely reflect a steep decline”, said Captain. Local market confidence was reflected in several multi-million dollar land deals, but is most evident in the residential sector as the median price of a Guam single family dwelling reached a new record high at $235,250, up 20 percent from a year earlier. The dramatic rise in median home prices, more than doubling since 2003, compares favorably to mainland markets which are suffering from historic declines. The change in product mix continues to impact the local median home price as a growing number of new houses are built and sold. Newer houses typically sell at prices higher than older houses, pushing median prices upward. Residential transaction activity during the 3rd quarter remained healthy with 191 houses sold. The high end of Guam’s housing market, which has been recently characterized by
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oversupply and limited demand, also staged a rally with seven houses selling at prices above $500,000 during the 3rd quarter. The 3rd quarter high end home sales included a recorded $852,000 sale at the nearly completed Talo Verde Estates, Guam’s premier residential subdivision. Many high end home sellers have adjusted their price expectations which has allowed for significant growth in the high-end sector. However, the supply of high end houses remains excessive with 47 listings priced above $500,000 in the Multiple Listing Service. The condominium sector, which is typically more sensitive to foreign investment, continued to spiral downward as the median
price declined for the 4th consecutive quarter to $125,000. The 57 condominium units sold during the 3rd quarter reflected the lowest level of transaction activity in four years. However, condominium sales activity included the July 2008 sale of an upscale Tasi 17 unit to Clubs of Guam, Inc. at a recorded price of $1.0 million, a record non-beachfront condominium price for Guam. Real estate market conditions for land continue to slide as the weak economy, a moratorium on development and increased prices have combined to limit activity in this sector. Land sales volume has plummeted in 2008, down by 41 percent compared to 2007 fig-
ures. “The land sale rate of decline is, unfortunately, increasing. We expect the land sector to rebound when foreign investment returns, sometime after the moratorium on development is lifted”, said Captain. The moratorium-impacted 3rd quarter land sale figures reflected a decline of 55 percent from 3rd quarter 2007 sales, a loss of $28 million. Based on the surprisingly strong 3rd quarter, Captain has revised their 2008 total sales volume projection to $375 million, up $25 million, but still down by 45 percent from 2007. Captain’s forecast for 2009 involves additional contraction. “Based on our analysis of sales activity trends and regional market conditions, we are projecting a 15 percent decline in aggregate sales volume for 2009”, stated Captain. Captain further added, “The market is moving in different directions. The residential market is characterized by strong consumer confidence which is evident in healthy transaction activity, significant new construction and record high median pricing. Fortunately, Guam banks are still lending and we haven’t experienced the liquidity issues which have put downward pressure on market conditions in the mainland. However, foreign investment in land and several proposed development projects appear to be temporarily sidelined.” “When the market softens, that creates opportunity. Although we don’t expect to see the heightened duress activity that was reflected during the 2000 to 2004 downturn, there will likely be a few bargains on the horizon. The window of opportunity may be short-lived because the fundamentals of the Guam real estate market will change once the military build-up plans are more established. By 2011, Guam real estate should be entrenched in a three to four year growth cycle”, Captain noted.
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Feature
A New Kind of Living By Janiece A. Sablan
What could be better than living in a tropical paradise? Living in a gorgeous, well-designed home in a tropical paradise of course. Three new developments offer potential home buyers a new way to experience life on Guam. Starts Golf Villas & Estates, Tumon Bel-Air, and Emerald Oceanview Park are raising the bar for design, function, and amenities on the island of Guam. Buyers who are looking to purchase, not just a home, but a whole new lifestyle, will be excited to see what these new developments have in store.
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Feature
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Feature
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From the Experts
Shopping for a Home? Got Portal? By Anthony Godwin, Today’s Realty
Anthony Godwin Principal Broker, Today’s Realty
oday, more and more Guam homebuyers are starting their home search on the internet. Guam homebuyers are not alone in this trend as over 77% of homebuyers nationwide begin their home search online according to the National Association of REALTORS®. Over the past several years the ‘on-line’ experience has been enhanced to bring more property information to the buyers and sellers of real estate. Five years ago or so, the first real estate websites allowed visitors to view and search the inventory of all real estate companies that were members of the Multiple Listing Service (MLS). The visitor could perform searches but there was no method to save or retrieve the information later. Times have indeed changed and technology has caught up with the buyer’s desire to save and retrieve their searches. Recently Today’s Realty launched a FREE new service on their ever popular website, www.guamhome.com, that allows visitors to create a personal webpage called a portal. This portal allows you to save your favorite properties, save ‘what if’ properties and even ‘reject’ properties that didn’t make the list. This new service also allows you to create and save your own searches. So, for
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example, say you want to search for all homes in Tamuning with three bedrooms, two baths and an ocean view. Now you can save this search and the next time you visit your portal any new or changed listings will automatically be updated. See something you like in the results of your saved search? You can also mark these properties and they will be automatically saved in your favorites! As your home search progresses, you can update your favorites until you have narrowed your search to those homes that best meet your needs. When you are ready to start seeing the properties you can call Today’s Realty and property showings will be scheduled for you. In addition to saving searches and favorites you can make a showing request and request for additional information on a property all from the comfort of your home.
How do you get your very own portal? Go to www.guamhome.com. Click on Client Login and then select “Don’t have an account. Sign up here.” It’s that simple and you are on your way! If you have questions you click on Live Support or call 649-4361 or feel free to call me at 6888198. Don’t wait til tomorrow… get your FREE portal Today! Anthony Godwin is principal broker with Today’s Realty, a five term past president of the Guam Association of REALTORS®. He can be reached at anthony.godwin@guamhome.com, 671-6888198 or visit him on the web at www.guamhome.com.
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Profile
Work-Family-Faith
Ryan De Guzman REALTOR® Century 21, Commonwealth Realty
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fter failing the Real Estate Exam
twice, Ryan De Guzman endured and passed in May 2006. It couldn’t have been at a better time as Guam was in the midst of unprecedented growth. This might have been tough for any new Realtor; however, De Guzman had aligned himself with one of the best in the business. After much searching, he settled in comfortably at Century 21 Commonwealth Realty with Moe Cotton as his mentor. “When you’re new to the business, it’s important to surround yourself with someone who can really show you the ropes…because you cannot afford to make many mistakes. I chose Moe as my mentor because of his knowledge, incredible experience but also for his availability and willingness to work closely with me. He is the kind of person who can accept anyone and is quick to trust. Persistence and determination are his motto and have very much become a part of mine,” says De Guzman. The fast-paced ride didn’t last for too long
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though. “Real estate has been significantly slow since the end of 2007 due to a multiplicity of local and international economic factors so it is an ideal time to re-evaluate, get motivated, set some new goals, prioritize, pray, plan, prepare, work and hope for the very best!” exclaims De Guzman. His optimism and commitment to service are reflected in his nominations for the prestigious First Hawaiian Bank’s Ginefile’e I Tano awards. In 2007 he was nominated for the “Outstanding Newcomer Award” and in 2008, the “Island Homes-People’s Choice Award.” In September of this year, members of the Guam Association of Realtors cast their first ever e-votes for “Realtor of the Year” and De Guzman was chosen by his colleagues as the recipient of that award. De Guzman is also GAR’s MLS Committee Chairperson which is a position he’s held for almost two years now. He looks forward to serving the community further through his involvement with the many events and projects GAR sponsors throughout the year. He also does something that is difficult to do in this industry, that is, he tries to keep a normal 8-5 schedule so that he can maintain a healthy balance. “Does this affect my income?” he asks rhetorically, and answers, “Yes, it probably does.” But he doesn’t seem to mind. As the 2008 State Realtor of the Year representing Guam, Ryan De Guzman attended the National Association of Realtors Conference in Orlando, Florida. This was a memorable achievement for De Guzman. He explains, “It was a dream being accompanied by my lovely wife and meeting other delegates from all over the nation. We literally had a blast at Disneyland, Universal Studios and truly enjoyed ourselves at the Convention!” Ryan De Guzman has made huge strides in the real estate industry in the few years he’s been a Realtor. His formula for success is simple: faith, family, and work.
Ryan De Guzman REALTOR® Century 21, Commonwealth Realty Family: My loving wife Michelle and beautiful step-daughter Eden. Education: Liberty University Lynchburg, VAMBA (Candidate) Christian Life College Stockton, CABA Bible and Theology (summa cum laude) Guam Community College Mangilao, GUBusiness Management Business Philosophy: “…your heavenly Father already knows all your needs, and he will give you all you need from day to day if you live for him and make the Kingdom of God your primary concern.” So don't worry about tomorrow, for tomorrow will bring its own worries. Today's trouble is enough for today (Matt 6:32-34NLT). My business philosophy includes putting God first and allowing His provisions to support and sustain me and my family every day. Exercising this concept regularly shifts the focus from me to Him who makes my life complete, a future secured by faith and exceedingly blessed. If I weren’t in the RE industry, I’d be… I would still be teaching Middle School at Pacific Christian Academy (Dededo), finished with my MBA at LU through the Distance Learning Program and pursuing a EdD (Doctor of Education) or Degree in Law and planning to start a new Christian Life Church somewhere in the heart of Tamuning with the help of my Pastor Ron De Guzman, his wonderful wife Tina and my Lord and Savior Jesus Christ.
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Market Place
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Who Ya’ Gonna Call
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Who Ya’ Gonna Call
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Classified Residential Sales NCS-Dededo Brand New House - 3bedroom/2.5 bath close to school stores and many more. Asking $265,000 Call Pioneer Realty at 649-8568/689-8038. MZ PB.
Paradise Estates - Brand new 3bed/2bath home with enclosed double carport, accordian typhoon shutters, central a/c, all new major appliances and ceramic tile flooring. Owner has started planting yard. PRICED REDUCED TO RENT. $2,100. Call Julie 688-0887
Tamuning
Piti
Pacific Tower Cond. - 3bdr./ l bath, fully renovated, pool, security, and appliances. Asking $95,000.00 Call Pioneer Realty at 649-8568/688-3121. MZ PB.
Nimitz Hill Estates - Nicely upgraded and renovated 3bed/2bath exec home with custom designer kitchen, top of the line appliances, water softner. Enlarged master br w/wall-wall closet plus walk in closet. Large separate family room. Close to Naval Hospital. PETS OK. Has side & rear gated fence. $2,400 Call Julie 688-0887
Tumon San Vitores Terrace 3 Bd/2 Ba 1st flr unit $240,000. Great location. walking distance to beach. Call Esther: 688-6787 elglenn@guam.net – www.islandrealtor.net Tumon Heights Court Cond. - 3 bdr./2 bath, close to the beach, hotel and shopping center. Asking $275,000.00. Call Pioneer Realty at 649-8568/689-8038. MZ PB.
Rental Properties Dededo For an extended family! 4bed/1ba house plus a concrete extension of 1bed/1ba. Newly renovated, in the heart of Dededo, close to everything. $2,000/month. Call Myrna 488-0144 Kaiser - 4bd/1ba, Newly upgraded with new tiles, kitchen cabinets new french windows, new paint, covered carport. Walking distance to schools, church grocery stores. Section 8 OK $1200 Call Scott Campbell 649-6088 3bd/2ba, covered carport, nice neighborhood, stove, refrigerator. Section 8 OK Asking $1,200 Call Scott Campbell 649-6088 Summer Palace – C Type Executive Home – 4 bdr./2.5 bath – Newly renovated – New kitchen – Pool – 24 Hr. Security - $2,900 Call Julie 688-0887 Ypaopao Est. Ph. II - Nicely fenced 3bdr./2.5bath home on corner of Bengbing Lane and Raven Way. House is completely tiled and has large yard. Perfect for pet owner. $1,700. Call Joy 689-7700
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Sinajana 3bd/2ba house, ceramic tile throughout Close to St. Jude Church, schools and minutes away from downtown Haganta. Section 8 OK Asking $1200 Call Scott Campbell 649-6088
Tamuning 4bed/3.5ba Centrally located in Perezville, Tamuning. A couple minutes away to GPO, church, schools and the hotels of Tumon. House is newly painted with elastomeric coating. Has master bedroom and a junior master bedroom. $2,200/month. Call Myrna 488-0144 2bd / 1 ba furnished. Includes power, water, cable & wireless internet. MILITARY WELCOME! $1,700 Call : Anita 688-5785 Oka Towers Condo-Newly renovated 3bd/2ba unit overlooking swimming pool and ocean New ceramic tiles floors, new kitchen cabinets w/granite counter tops, new bathroom floors and counter Freshly painted. Great amenites includes: 24-hour security, tennis courts, swimming pool, mail delivery playground area, back-up generator Asking $2400 Call Scott Campbell 649-6088 Grand Pacific Condo: 3bd/2ba, 2nd floor Appliances included, ceramic tiles throughout Centrally located in the heart of Tamuning. Minutes to GPO, restaurants, theaters and many more Section 8 OK Asking $1100 Call Scott Campbell 649-6088
OKA Towers 2 BR and 3BR available today. Also, exclusive executive rental available soon. Call Ron Ostern at Coral Sea Realty 727-4653.
Tumon San Vitores Terrace Condo-3bd/2ba, 3rd flr. Upgraded unit. Ready to move-in. stack washer/dryer,refrigerator, stove, water purifier, typhoon shutters, covered balcony, Partial oceanview. Walking distance to beach, shopping centers, restuarants/bars and more attractions. Asking $1850 Call Scott Campbell 649-6088 San Vitores Garden – Large 3 bdr./2 bath – Oceanview – 1st floor unit - $1,700 Call Julie 688-0887
Yigo 3 bed/2ba house close to school, church and AAFB . Quiet neighborhood. $1,500/month Call Myrna 488-0144. Upper Tumon 4bd/2ba, covered carport, spacious yard, new ceramic tiles, freshly painted, minutes away from Micronesian Mall and downtown Tumon. Section 8 OK Asking $1400 Call Scott Campbell 649-6088 Tumon Horizon Condo: 2bd/1ba, ground floor, water included. Complex has pool, security, mail delivery. Walking distance to downtown Tumon Asking $1,000 Call Scott Campbell 649-6088
Land For Sale 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 1,876 s.m. Asking $79,000.00 Water & Power nearby Call Toni 482-4663
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Closing Message from the Executive Officer The Voice for Real Estate on Guam
Peggy Araullo Llagas
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.
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