Table of Contents Message From GAR Going Green in Guam Real Estate
FEATURED HOME
Amenities Abound In Nimitz Departments 6
Market Report Your comprehensive look at the trends of the real estate market.
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Feature Relocating Made Easy When moving to a new place, getting as much information as you can will prevent most of your headaches.
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From the Experts Lucky You Live Here
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Profile Deanna Palmer “Work Hard Play Harder”
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Curb Appeal A Natural & Unique Look Without A High Cost
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Who Ya Gonna Call?
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Classifieds
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Closing Guam Association of REALTORS® Watch Out For Predatory Lenders (Part 1)
“Green, Green, Green.” In the mainland U.S., this mantra is becoming almost as popular as the Real Estate axiom of “Location, Location, Location”. Guam already has location with the projected military buildup, and with rising energy costs and a greater awareness of our environment, Going Green will become a fast growing concept. Living on Guam, where our island resources are limited, where water is a most important commodity, where fuel is shipped in and energy costs high, where landfill space limited and conservation is key, going green becomes even more important. Add to this the personal satisfaction from being part of the solution and helping our shared environment and the philosophy of green living makes more and more sense on Guam. It is not only achievable, but preferable. Going green with your home and building is not only caring for your environment and reducing the negative impact on our resources, but it makes financial sense as well. Consider that in the U.S., buildings account for 39% of all energy use, 68% of electricity, 88% of potable water and 40% of all raw materials. For buyers, finding a home which is already resource and energy efficient means saving money in the future on utilities, and for a seller, this means your house is more marketable to buyers and likely means less time on the market for sale or results in a higher sales price. Simple solutions can begin by changing light fixtures to energy efficient ones, or to more complex systems installing solar devices,
May 2009 • Vol. 2 • No. 5 CasaGuam is Published by:
P.O. Box 24881 Barrigada, GU 96921 Tel: (671) 472-3495 | Fax: (671) 472-3498 email: office@yellowpagesink.com
recapturing rainwater, reusing construction materials, or just improvements, such as changing out old inefficient appliances for newer more efficient units. There are a myriad of ways we can go green on Guam, for both energy and resource conservation. While Guam’s warm temperatures create a demand for air conditioning, Guam’s plentiful sunshine and high energy costs make solar power much more justifiable, and will help to offset those cooling costs. Solutions which may not make sense in other areas make financial sense in Guam where our power costs can be four times what is paid in other areas. The cost of investment in green technologies and planning can often result in significant savings and have a positive effect on your home’s pricing and homeownership costs. Guam REALTORS® are uniquely position to help with the green concept. Guam REALTORS® have access to educational courses and a “Green Designation” pioneered by the National Association of REALTORS®. The training and the certification which they can earn upon completing core and elective coursework is designed to make the REALTOR® aware of energy efficiency issues, smart sustainable growth planning issues, homeowner concerns, and to give them the tools to help the sellers and buyers on Guam of both residential and commercial real estate. So when looking for a home or considering selling, consider asking your REALTOR® for their advice on Going Green. The REALTOR®’s input can help you to make sense and cents, or more accurately, dollars, and will help you position yourself for the future. Steffen Niu 2009 President Guam Association of REALTORS®
Publisher Business Sales Manager Traffic/Circulation Manager Production Manager Production Assistant
Julian T. Cooper-Nurse Jay-R S. Dominguez Josie Redmond Mark S. Burke Lynda Young
Graphics & Layout Mark S. Burke Jon Barnhart Editorial Contributors Faye Varias W. Nicholas Captain Peggy Araullo Llagas Chrisopher Felix Ken Limtiaco
CasaGuam Advertising Disclaimer All Advertisers agree to hold the publisher harmless and indemnify it against any and all claims, losses, liabilities, damages, costs and expenses (including attorney’s fees) made against or incurred by the publisher, officers or employees with respect to, or arising out of, the content, text, graphics or representations of any ad published herein, including but not limited to the sole negligence and/or fault of the publisher. The publisher is not liable for any claims, losses or damages of any kind, arising from the wording, text, graphics or representations of any ad published herein, or the condition of the articles sold through the publication, or performance of services advertised in this publication. All advertising and/or performance of services advertising and/or submissions become wholly the property of CasaGuam Magazine. CasaGuam Magazine is a registered trademark of PTI Pacifica Inc. Copyright © 2009. All rights reserved. Reproduction in whole or in part in any form without the express written consent of the publisher is prohibited. We reserve the right to edit or refuse any ad and to reprint any photo for promotional use.
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Real Estate Listing By Village
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Market Report
Guam’s Real Estate Market Report for the First Quarter of 2009 W. Nicholas Captain
Ah, the volatility. Ah, the disappointment. Paradigm shifts, even the real ones, were nothing like this. Seizure. Collapse. The Brink. The Big One. Nationalization. A situation like nothing we’ve seen since the Great Depression. It’s been a tough few months and Guam’s real estate market statistics reflect the fear of investing and liquidity issues that have impacted global markets. Captain Real Estate reports that total quartely sales of Guam real estate peaked at just over $200 million during the third quarter of 2007. During the first quarter of 2009, that figure plummeted to $36.3 million, off 82 percent from the recent peak. The most recent period reflected the lowest sales activity in six years and approximated quarterly activity during the 2000 to 2003 downturn period. Year to date 2009 sales volume is down by 63 percent, and the number of transactions is down by 40 percent compared with 2008. Single family dwelling sales volume during the 1st quarter of 2009 slid to 115 units, the slowest pace since 2002, while the median price of a home fell by 28 percent to $160,000, the sharpest decline on record. The sharp median price decline is more reflective of the change in product mix than overall price deflation, which has been minimal. Condominium sales activity, reflecting a near evaporation of foreign investment, declined to 25 units during the 1st quarter of 2009, the weakest quarterly activity on record. However, the median price of a condominium unit remained relatively firm at $135,000. The current weakness in the real estate
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sector, combined with extremely low interest rates, has created a window of opportunity for buyers. We expect that lower priced transactions closing in 2009 will be the exception, and not reflective of new benchmarks. The opportunity to buy at a discount requires a seller under duress because prevailing market sentiment reflects strong price appreciation potential once the military build-up comences. Guam real estate investors, for the most part, have shifted into a “hold” mode and those forced to sell remain quite rare. Although the 1st quarter of 2009 statistics approximate those during the 2000 to 2003 downturn, the fundamentals of Guam’s market today are vastly different than during the downturn, and a return to more normalized activity is expected by early 2010. Weak local real estate market conditions are due to a combination of fear, uncertainty and a dearth of foreign investment. Hawaii and mainland markets have fallen sharply due to the poor economy and a lack of available capital. Guam’s market will recover much faster than Hawaii or the mainland precisely because of the fundamental causes of the downturn. Although our economy has stumbled, the military build-up activity is expected to create jobs and fuel immigration and foreign investment by next year. Further, Guam banks include some of the nation’s strongest and the mortgage crisis has been mostly tame. The fear and uncertainty impacting Guam’s real estate market is already waning, and excitement and opportunity will likely fill the void. Foreign investment, stung by economic fallout and the strong U.S. dollar, will steadily rise along with badly needed on and off-base construction projects. We expect the current downturn to reflect the shortest recovery on record. In the near term, the key for investors is staying power. That means cash flow, not just cash, is king.
Another reason that we expect Guam’s real estate market to recover quickly is supply. There are very few sectors of the market that are currently characterized by high vacancy and an over supply of new construction. Once military build-up related demand takes off, the upward pressure on rents and prices could be significant. The blind optimism associated with the military build-up since 2005 may find that 20/20 vision is not too far away. The Department of Defense budget is expected to include several hundred million dollars for Guam construction and Japan will likely join the investment party soon. North Korea’s rocket launch further justifies the sharpening of Guam’s military spear. The U.S. General Accounting Office has given Secretary Gates justification to personally act to insure implementation of current Guam build-up plans. Guam’s Industry Forum III will bring badly needed foreign investors back to the island in late April. Assuming that no additional Moratoriums on development are forthcoing, we expect real estate sales volume to increase significantly during late 2009 and early 2010. Is Guam ready for the build-up? On the government side, the Guam Civilian Military Task Force recently reported that, “...legisltive actions are urgently needed such as a water resources management authority law, solid waste recycling laws, new zoning and subdivision laws, updated water quality standards, storm water management law, quarry management law, noise management law, legislatively approved conservation master plan, legislatively approved seashore protection law, and an environmental protection agency autonomy law.” Is that all? It appears that the Task Force may forget about the legislative actions required to update the kitchen sink laws...ready or not, the build-up is already underway.
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Feature
When moving to a new place, getting as much information as you can will prevent most of your headaches.
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Feature make your house hunting efforts go smoothly. Guam is my home; I grew up here, left for college and came back. Now, I want to make this beautiful island your home.” Another Web site, GuamPCS.com, is run by two retired military members. In the site’s “About Us” section, it states, “GuamPCS.com provides military personnel and government employees temporary lodging in one of Guam’s premier resorts and a free courtesy car for use while in temporary lodging allowance (TLA) status. All our customers, regardless of rank, will experience exemplary customer service with the GuamPCS.com team handling the details. Our fees are based on the service member’s authorized TLA allowance: This means no direct cost to our customers.” There are several companies who offer different services, so it’s important to find one that’s suitable for your needs.
What to Expect
Uprooting your life and moving to a new place is never easy. What makes it even harder is when you have to move to a place that you know nothing about. This is how many military members feel when they receive their assignments to come to Guam. Within the next few years, there will be a lot of them. But service member or not, if you’re thinking about relocating, there are several things of which you should be mindful so moving doesn’t have to be as hectic as you expect.
Where to Start Do your research. Yes, it seems simple enough. At this point, Google can be your best friend. Find specialists in the area in www.CasaGuam.com
which you’re moving. Feel them out and seek their services. For example, Norma Del Carmen, principal broker and owner of Isle Properties has a wealth of information on her Web site for potential Guam residents. She states, “Moving can be frustrating and finding a place to live once you arrive in Guam can be overwhelming, especially if you’ve never been here before or don’t know anyone who can be of help.” She provides a personal background of her credentials and why her services are valuable. Del Carmen welcomes Web visitors by saying, “I know you’ve looked at many other sites before coming here. I’ve been in real estate since 1997 and with all those years of experience, I can
Knowing what to expect can be your saving grace to ensuring that there are no unexpected surprises during relocation. Del Carmen is upfront about policies when it comes to renting. “I’ll start off by reminding customers I don’t work with short term rentals. I receive frequent requests for weekly or one month stay. Your only choices are a hotel or a condo style hotel. Many landlords don’t want to work with short term when they could rather have long term tenants and less turn around,” she stated. Del Carmen also said she has a lot of customers that want to make an offer online. She advises against that, because pictures can be deceiving. “Another common request is for condos/ townhouses with carports under $2,000 in the Tamuning/Tumon area,” she said. “First, you’re not going to find a nice house in that price range in that area. Most customers will settle for a nice townhouse or condo but it’s hard to find one with a carport. Many complexes, even high end properties were made without covered parking. There are also a lot of requests for customers wanting to preview properties while they are visiting Guam for a few days but not planning to move in several May 2009 ◆ CasaGuam 11
Feature months later. I know many want to find out what housing looks like when you get here but they won’t be the same inventory when you get here and we’ll have to house hunt all over again. Good properties go quickly and so it’s best to look at the properties when you finally arrive and are ready to move in.” The GuamPCS site states, “We know what it’s like to PCS and we’re here to help with all your relocation needs. From assisting you with information about schools for the kids, importing pets or firearms and vehicle registration, to where to find the best Chinese food, we go the extra mile in customer service. And as associates of The Real Estate Professionals and licensed Guam real estate agents, we can also help you find a perfect place to live whether you intend to rent or buy.” The site’s founders, Maj. Mike Carey, USMC (Retired) and GySgt. Martin W. Howard, USMC (Retired) have both been there before. Carey enlisted in the Marine Corps in 1959, and was commissioned in 1965. He served in various intelligence, reconnaissance, infantry and training assignments, including three combat tours in Vietnam. He retired in November 1979. In October 1987, Mike and his wife, Christine, landed in Guam with two backpacks and a camera bag. They had never been there before, didn’t know a soul and didn’t have jobs. He tried several public and private sector jobs before teaming up with Howard in October 2005 to form GuamPCS.com. “Between us, we’ve made dozens of military PCS moves. We’ve both been there, done it, and got the T-shirts helping 12 CasaGuam ◆ May 2009
military families get settled on Guam should be as normal as breathing!” Howard joined the Marine Corps on August 30, 1984 and attended basic training at Parris Island, South Carolina. Upon graduation from boot camp, he reported for law enforcement specialist training at Lackland Air Force Base, Texas. Three weeks after his retirement ceremony, he reported for duty with the U.S. Department of Homeland Security as the Assistant Federal Security Director for Law Enforcement assigned to the Guam International Airport. His first words upon landing on Guam were, “Oh my God, what have I done?” After a difficult adjustment period (he didn’t unpack his bags for six months) Howard has quite adjusted to the island way of living. Many of his friends in the mainland U.S. leave home three hours early just to get to work on time. “There’s something bizarre about that,” he said. What both Howard and Carey enjoy about Guam is what makes it a desirable place to live. Del Carmen said, “Beachfront living is the most common request by many who move to Guam. Tumon is the most desirable location to live for many newcomers because it is Guam’s entertainment, shopping, hotel, and tourist district similar to Hawaii’s Waikiki.”
Frequently Asked Questions According to Del Carmen’s Web site, these are some of the most common questions she receives and her responses to them. www.CasaGuam.com
Feature Q. How much security deposit do I give? A. Landlords require one month security deposit equal to one month’s rent.
Q. What happens if I don’t finish my lease and need to leave the island? A. If you are in the military and had your military clause signed by landlord, you’ll be entitled to your full security deposit. However, if you are not in the military, you’ll need to discuss this matter directly with your landlord. The lan lord usually keeps the security deposit if a tenant backs out on their contract. You may need to seek legal counsel regarding this matter. When signing your contract, please make sure you read your agreement in detail and ask any questions before signing to prevent any problems in the future.
Q. What if I only need a place for three months; what can you recommend? A. There are a few places that can accept short term rentals. Some hotel units also function as short term rentals such as the Pia Marine Resort or Garden Villa where rentals can cost from $1400/month for a 2 bedroom and to the beautiful beachfront Alupang Beach Towers, perfect for your executive lifestyle at $2200/month for a two to three bedroom unit. There are few homeowners/landlords that will consider this option if the vacancy has been running high.
case by case basis depending on what type of pet, how large your pet, or how many pets will depend on the owner/landlord. Normally a cat/bird/fish that are indoor trained animals have had an easier time getting accepted. But a dog usually raises a red flag with most owners, especially if the entire complex has a not pet policy, so it’s hard to hide your dog when you go outside for walks. Usually a landlord/owners will require a pet deposit if they do accept pets.
Q. Are there lots of snakes on Guam? A. This probably is the most asked question I get unrelated to real estate, but I just have to answer this so I don’t have to keep repeating myself in e-mail reply to customers. It’s amazing to think that many unfamiliar with Guam think that Guam is slithering with snakes everywhere. The only snake I’ve seen is on display at Underwater World and once (and a rare sighting) right near my apartment. But other than that, I’m more concerned about running over a boonie dog or cat when I’m driving.
Referrals Perhaps the best way to choose your service provider would be to ask for referrals. Talk to people. Ask others who have relocated about their experiences and see who they will recommend. Though research is helpful, word of mouth can be quite eyeopening. Happy moving!
Q. Do apartments and condominiums accept pets? A. Certain complexes have a strict no pet policy. In general, the decision will be on a www.CasaGuam.com
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From the Experts
Lucky You Live Here! By Chris Felix CPM, CIPS, CCIM
Christopher Felix CPM, CIPS, CCIM Principal Broker, Century 21 Realty Management ecently, there has been a lot of confusing and contradictory statements and reports about the past and projected future real estate market on Guam. While I am not a soothsayer or as bright as some of my fellow professionals, I do have opinions and comments I’d like to share. First and foremost, I think it is important to remember that the market here in Guam (while it may be a bit slow this year) is much, much better than the markets in the United States and Asia. I was at a breakfast meeting last week sponsored by Bank of Guam and featured Joseph Bradley, their economist. He gave many facts about the economy in our Asian country neighbors and in the United States that clearly shows how much better off we are here than just about anywhere else in the world right now. Also the latest economic report from First Hawaiian Bank also predicts a solid and improving economy for Guam. You may have heard about the real estate housing market in Nevada, California, Florida, Arizona and a few other states and how values have dropped by 50 to 70 percent and how 5 percent of all houses are in foreclosure or have received default notices. These numbers are frightening and staggering. I recently was in Florida and Las Vegas visiting friends and relatives and the market and mood is much worse than
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even these figures show. People are literally leaving their keys on the kitchen counter and driving off to another state to look for a job and better life! As they used to say in Hawaii, “Lucky you live here!” This has become very true for us in Guam. Our market has softened and flattened a bit and even decreased in certain areas but it still so much better than elsewhere. I continue to get inquiries from off island investors about our market and what they should buy. While things have slowed down they have not died like they did last year when the moratorium was declared by GWA. Sales are still happening but at a slower pace. I also have seen a slowdown in upper end sales such as luxury condominiums and executive housing (condos over $250,000 and houses over $350,000) and this is the reason for Nick Captain’s latest report showing a dramatic decrease in the median sales price of housing sales. So what about tomorrow? Thanks to the military buildup and federal spending I see nothing but blue skies for our real estate market. I do expect the market to start increasing as soon as third quarter this year and definitely by mid 2010. I believe we will
see the rental market solidify by occupancy increasing up into the 90+ percent range. This will cause rental rates to start increasing, hopefully not drastically but slowly. This will cause prices to start to increase in apartment building, condominiums and even houses as investors will pay more for units that have higher rental income. I also see an increase in industrial properties both warehouse rentals and and values as contractors who are awarded construction contract start to look for warehouse spaces to rent and land to occupy for their construction bases. Finally I believe the office and retail markets will also finally solidify and hopefully start to increase in rental rates and values. All this will affect the raw land investment market positively as well. So I believe all facets of our real estate market will be impacted favorably in the next five years with a slowdown in annual increases after that. I believe investors will see Guam as a safe haven for their investment dollars for the next few years while the U.S. and Asian economy settles and starts to improve. So as I said earlier we may have some problems and headaches we need to face and overcome but, “LUCKY WE LIVE IN GUAM!!!!”
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Profile
Work Hard, Play Harder
I am impressed with CasaGuam’s fast growing market share.I love it when someone calls on my ads. I ask them how they found me. They respond ‘CasaGuam.’
hen a new agent asked Deanna Palmer for her advice on how to be successful in real estate, that’s the moment she felt accomplished that someone valued her opinion. This was her best real estate moment for it was definitely a tough battle. She entered the real estate industry at one of its lowest points. “I learned to work hard from the start,” she said. “We built a house in Sinajana and, when that was done, I decided to start real estate. It was in 1994, the worse year for real estate on Guam.” Palmer said her experience in customer service worked for her. “I was previously working for Xerox, first as a technician, then as a sales representative. Those 10 years were very good and the training was excellent.” For someone looking into real estate, she said, “Guam is at the start of a five to 10 year buildup. It is the perfect time to purchase here. The interest rates will not be lower.” She warned that the prices will start increasing and the inventory of available units will start decreasing soon. “If you are an investor, you need to improve the properties and have them ready to compete in the military housing rental market. Right now we have some vacancies, so be prepared to cover the mortgage for up to four months. If you are an owner occupied buyer, do not wait any longer.” Though she has proven to be a successful Realtor, Palmer still faces a similar challenge that most businesswomen face — balancing work and family. “I really like what I do, so it is easy for me to become unbalanced. The
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Deanna Palmer REALTOR®, RE/MAX Diamond Realty Family: Deanna Palmer is married to Marvin Palmer. They have a son named John who lives in Arizona with his wife, Jennifer and their son, Peter. Business Motto: First, be of service. Help people with their real estate needs and goals. Continually improve my knowledge of the market and my skills so that my clients benefit. Contribute back to my community.
Contact Deanna at: Cell: (671) 688-2855 Tel: (671) 479-8828 Email: dpalmer@remax-guam.com Website: www.deannapalmer.com
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By Faye Varias
price is high, more in the way of time away from family than anything else. I take Sunday off most of the time and Saturdays, I try to work half day.” She said that nine years ago, she and her husband, Marvin, learned to snow ski and try to go on a winter ski trip every year. “The last three years, (we) have been to Japan and we swished through the snow.” Aside from skiing, Palmer also likes decorating houses and designing landscape ideas and camping. She said her family has a teardrop camper which they drove across the states last year. But that’s not all. Palmer is also learning to paint. “I started with oils, then tried acrylics and now have water color. So far I like acrylics, but I am open to learning more in each medium because I have not settled into one thing yet.” For now, her goals are to contribute time and money to a few non-profit organizations and pretty much, enjoy life.
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e It’s a great tim art, to buy. Be sm ® OR , T L A E R a e s U u I can help yo make it easy.
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Curb Appeal
A NATURAL & UNIQUE LOOK without a high cost…
By Ken Limtiaco
he phrase “curb appeal” is a very popular one in the real estate/ construction industry and generally refers to the exterior look of a home or commercial property as compared to surrounding properties. Think of yourself as a potential homebuyer, renter or commercial tenant. If you drive by a property, does that property “positively stand out” amongst the others? If so, then there is good “curb appeal.” If not, then the curb appeal is low. The general thought is that improving the look of the exterior increases the property’s curb appeal. There are a number of methods, including the installation of exterior decorations, re-painting and extensive attention to the landscaping, that when done properly will increase a property’s curb appeal. The end result should be a property that will have a higher value or a better marketability. In this article I will address “installation of exterior decorations” and will focus on the use of a product known as manufactured stone veneers (also referred to as cultured stone) to increase curb appeal. Manufactured stone veneers are not natural stone. They are manufactured to look and feel like natural stone but have several distinct advantages: lower cost, easier to install, lighter weight and easier to procure. In the last year, our island’s homes and commercial properties have seen a big increase in the use of this product. I have seen properties that have installed large amounts of veneers to the point where an entire wall looks like a beautiful wall of stone and I have seen properties where the veneers were thoughtfully placed as an accent in the front doorway. It comes down to individual taste and, in each situation, certainly, in my opinion increased curb appeal. There are several local businesses that sell manufactured stone veneers and I will try to give you some tips on how to select the right one for you. First of all, you need to know that there are not only several manufacturers (brands) to choose from but also numerous designs and colors. Designs, also referred to as pr files, can have large, medium and small pieces. Within these designs there are a variety of color themes to choose from. Choose the
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profile and color best suited to blend and enhance your property’s architectural design and color(s). Some businesses will allow you to take a sample with you to see how a well profile will fit into your plan. Secondly, you should look for a veneer that will last and is made by a company with a solid reputation in the industry. Keep in mind that, in recent years, there have been several U.S. brand veneers as well as “non-brand” products from Asia. Select the one that best fits your “curb appeal goal.” Sometimes the use of a name brand product will add value and prestige. Next, and this is important for a sound installation, look for a veneer that has a rough textured backing. This will ensure that the veneer will properly adhere to the mortar mix needed for installation. I have seen a couple of products here where the backing was relatively smooth and would more than likely not adhere properly during installation. Lastly, ask about the product’s warranty. The warranty should protect you from manufacturer’s defect and should be for a fair length of time. I know of one product that offers a 50-year warranty period. That, in my opinion, shows confidence by the manufacturer in it’s product. To end this article, using a manufactured stone veneer is a unique way to enhance your property’s curb appeal. The installation process is relatively easy but time consuming as each veneer must be secured individually. The end result, however, will be well worth the time and effort.
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Who Ya’ Gonna Call
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Classified Commercial Sales
Dededo
Yigo (Cont.)
Harmon
SUMMER PALACE ; Townhouse 3bd/2.5ba, corner unit w/ large yard, pool, tennis, 24hr. sec $266,500.00 Call 637-7165 / 688-0887 /689-7700
Perez Acres – Great gated community living with mail delivery, sidewalks, two pools, basketball court and cabanas. Patio enclosed and was used as an office. Unit is tiled and has beautiful wooden stairs. $235,000 Call Judy 482-7775
Harmon Industrial M-1 Zone ? Acre Fenced Lot $280000 or Best offer. MUST SELL! Ideal forWarehse/Office PLUS PreConstructed / Unfinished Slab Call/Lv Msg 632-1200
Tamuning GOLDEN MOTEL – With 26 rooms, well established and maintained motel in the heart of TAMUNING. Good investment opportunity. $2.1 Million Call Christina @ 888-8626
Commercial Rentals Tamuning Great value for Marine Drive frontage. Building has 100% back up generator. $5625/mo - $7200/mo Call Toni 687-8714 Commerical Building - Across Oka Payless, 1800 square feet 2nd floor unit. Great location! $3,000/mo Call Daniel @ 687-5115 Ready build restaurant and bar with all the necessary equipment and large parking space. $2,500/mo Call Frank @ 689-6576 or 300-8130
Tumon Upper Tumon: Boonsri Plaza – Office/retail space available 600-800+/-sft. Fronting Marine Drive – Asking $1.25 per sqft. Call Coral Sea Realty 649-6088
LAS PALMAS I –Townhouse 3bd/2.5ba excellent cond, pool, security, tennis $200,000 Call 637-7165 / 688-0887 /689-7700 Villa Rosario Condo 3bd/2ba, pool, security, clean newly, renovated $155,000 or $1300/month-rent Call 637-7165 / 688-0887 /689-7700
Harmon
Residential Rentals
Duplex R2 Lot 3bd/2ba & 2bd/1ba excellent condition, good location $342,000 Call 637-7165 / 688-0887 /689-7700
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Mangilao Behind Latte Heights Market House 2bd/2ba half-acre lot, fenced, good location $212,000 FIRM Call 637-7165 / 688-0887 /689-7700 Park Villa Condo – Large 3bd/2ba, 1st floor very nice near Route 10. Asking $165,000 or $1,300/month-rent Call 637-7165 / 688-0887 /689-7700
Agat
Asusentado Condo: Large 3bd/2ba, pool excellent condition $240,000 Call 637-7165 / 688-0887 /689-7700
Brand new 4 bedroom, 2 bathroom house, centrally located. House includes split A/C units, typhoon shutters partial fencing and sidewalks $325,000 Call Colleen @ 727-6902 or 479-6902
Chalan Pago This 4 bedroom, 3 bathroom home belongs in the House and Garden Magazine – offering a designer’s touch! This spacious 2,535 sq. ft. floor plan is ready for YOU to call it HOME! It’s a must see! $449,000 Call Colleen @ 727-6902 or 479-6902
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Windward Hills Estates P2 – 4BR/3BA Beautiful home with gorgeous view! $295,000 Call Avery @ 988-5263 Cross Island Road, Yona. 6BR, 4BA, 1672SM, nice neighborhood $295,000 Call Jackie @ 777-4289 or 479-8846
Tamuning
Barrigada
Yona
Summer Palace – Live the gated community at Summer Palace! Enjoy community features such as a pool, 24 hour security, tennis court, and children playgrounds. Shopping and dining are minutes away. $405,000 Call Vic 483-7518
Residential Sales 4BR, 3BA, 2400ST $189,000 Call Jackie @ 777-4289 or 479-8846
3BR/2BA Only 3 years old with double carport, typhoon shutters, fenced and gated, Very close to AAFB. Freshly painted. $235,000 Call Trini @ 687-8340
Tumon Villa De Coco: Condo Large 2bd/1ba excellent condition fee simple $220,000 Call 637-7165 / 688-0887 /689-7700 Upper Tumon: Condo 3bd/2ba Renovated fee simple Only $150,000 Call 637-7165 / 688-0887 /689-7700
1BR/1BA apt. Second Floor. Balcony, newly renovated. near schools, church, beach, and stores. Highly Efficient Tankless Hot Water Heater included! 600.00 Call 888-8265 or 888-7447 2BR/1BA apt. Second Floor. Balcony, newly renovated. near schools, church, beach, and stores. Highly Efficient Tankless Hot Water Heater included! 650.00 Call 888-8265 or 888-7447
Barrigada Heights Luxury new house, 4500 sqft, gated, panoramic view $6000/m Call 637-7165 / 688-0887 /689-7700
Chalan Pago Flora Pago Gardens – 3bd/2ba, stv/ref/washer/dryer. Well maintained complex with 24 hr security and pool. Minutes away from downtown Hagatna. Asking $1200/m Section 8 welcome! Call Coral Sea Realty 649-6088
Yigo
4bd/2ba 1850 sqft . renovated quiet & very clean house $1,900 Call 637-7165 / 688-0887 /689-7700
Two homes for a price of one! Semi-concrete home with 4 bedrooms & 2 baths and full concrete home with 2 bedrooms in the back. Home has lots of potential for future expansion. $190,000 Call Lourdes @ 483-1384
Spacious 3 bd. 2.5 ba. townhouse. Large master bd., ceramic tiles, indoor laundry, remote control garage, & shutters. Only minutes to shopping, restaurants, & other establishments. $1,800/mo. Call Lou @ 483-1384
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Classified Dededo
Piti (Cont.)
Ypaopao Estates – upgraded 3BR/2BA home, fully fenced. Good neighborhood. $1,900/mo Call Christina @ 888-8626
4bd/2ba house, stv/ref/split a/c typhoon shutters, covered carport, spacious yard. Section 8 welcome. Call Coral Sea Realty –649-6088
New 4 bedroom 3 bath home in Guam’s premier subdivision, Paradise Estates phase II. $2400.00 Call Pat at 727-4PAT (4728) Peaceful living at the end of a quiet street. Complex is convenient to northern military bases and schools. 2 FULL baths with marble tied flors. $800/mo Call Teri @ 727-3577 or 479-8881 2 Bd w/ Ref / Oven/ Split Aircon/ Patio & Garden Good location Walking Distance to church, schools, payless,flea market Call / Lv Msg at 632-1200 1 Bd w/ Ref / Oven/ Typhoon Shutters Good location Walking Distance to church, schools Payless & flea market. Sec 8 / Mil OK Call / Lv Msg at 632-1200 Totally renovated, large 5bd/3ba, ample parking,gated $2,500/mo Call 637-7165 / 688-0887 /689-7700
Santa Rita 3 bedroom, 2 bathroom, corner lot home in Santa Rita. This home is approximately 5 minutes from Naval Station, schools and stores and comes with refrigerator, stove with oven, air conditioners , inside laundry room and carport. $1,700 Call Joylyn @ 483-5069 or 300-8132 2bd 1bath, starting $700 Call 687-5422 for this & more, Coral Sea
Sinajana Rarely available 2 bd. 2 ba. executive unit at Holiday Tower Condo. Ocean/city views, secured ent., pool, covered parking & many more. $2,000/mo. incl. water. Call Lou @ 483-1384.
Tamuning Upgraded 3BR/2BA. Great location! Fully fenced. $2,200 Call Christina @ 888-8626
Summer Palace: 2 Exec Home 4bd/2.5ba, renovated, pool, tennis, 24-hr security $2,100 & $2500 Call 637-7165 / 688-0887 /689-7700
Beautiful beach front condo with 100% back up generator and back up water supply. $2,700/mo Call Hana @ 777-3660 or 300-8131
Las Palmas Ph III 3bd/2.5ba + 2 dens excellent condition, sec., pool $1,700 Call 637-7165 / 688-0887 /689-7700
3bd 2Ba section 8 OK Call 687-5422 for this & more, Coral Sea
Large Apartment 2bd/2ba w&d, shutters, nice, near schools sec 8 ok $800 - $830 Call 637-7165 / 688-0887 /689-7700
Harmon Large 3bd/2ba Condo, fully furnished $1,400 Call 637-7165 / 688-0887 /689-7700
Piti 2BR/1BA apt. Ground Floor. Fruit trees, bus stops in front. Partial Ocean View. Highly Efficient Tankless Hot Water Heater included! $550.00 Call 888-8265 or 888-7447 2BR/1BA apt. Second Floor. Renovated. Fruit trees, bus stops in front. Partial Ocean View, Balcony, Highly Efficient Tankless Hot Water Heater included! $600.00 Call 888-8265 or 888-7447
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Tumon Horizon Condo - 5th flr3 units available 2Bd/1Ba each. Stove, ref, central a/c. Furnished, pool, security. Asking $850/mo each. Call Coral Sea Realty 649-6088 Tumon Height or Ypao Garden 2nd floor 2bd/2ba, pool newly renovated, ample parking $1,200/m Call 637-7165 / 688-0887 /689-7700 Pia Resort Condo 2bd/2ba oceanview, pool, security, fully furnished $1,900/m Call 637-7165 / 688-0887 /689-7700 San Vitores Gardens Condo : 3bd/2ba, 2nd flr, with ocean view, ceramic tiles. Amenities includes pool and basic cable tv. Within walking distance to beach, restaurants/bars, shopping malls and many more. Asking $1400/m also available for sale at $200K. Call Coral Sea Realty – 649-6088
San Vitores Terrace Condo : 2bd/1ba 3rd flr., stv,ref,stack w/d, c-a/c typhoon shutters. Security, mail delivery, pool. Walking distance to beach, restaurants/bars and many more. Asking 1200.00 Call Coral Sea Realty –649-6088
Yigo Completely renovated 4 bedroom 3 bath home on a huge ? acre lot. Just off RT. 15 and minutes from AAFB. Fully fenced and ready to move in. $2400.00 Call Pat at 727-4PAT (4728) 3BR/ 2BA Nice floor plan with 3 tiled patios, 2 carport and baywindows. Large fenced yard. Near Takan Subd. $1,500/mo Call Trini @ 687-8340 Perez Acres : 3bd/1.5ba townhouse, carpet/ceramic tiles, stv, ref, washer/dryer. Well maintained community with great amenities. Gated and fenced. Minutes away from AAAFB. Asking $1400/m. Call Coral Sea Realty –649-6088 Perez Acres - Near AAFB, 3bd/2ba, 2 pools, playground. Asking $1,700/month. Call Maude 472-5136 LV MSG or 7277135. 3 Bd w/ Ref / Oven/ Window Grill & Patio Fenced/ Big Yard! Walking Distance to Bus Stop Sec 8/Mil OK! Call/Lv Msg at 632-1200
Land For Sale Barrigada Large lot with utilities in the area. Lot is 3,129 square meters and is waiting for you to build your dream home. $190,515 Call Jesse 688-4885
Chalan Pago Ready to build lot in Chalan Pago. Lot has been cleared and has a paved road to the property. $75,000 Call Frank @ 689-6576 or 300-8130
Dededo Rt. 16 Acho Latte St. Near MIDPAC, 1,970 ± sm land $100,000 Call 637-7165 / 688-0887 /689-7700
May 2009 ◆ CasaGuam 31
Closing Message from the Executive Officer The Voice for Real Estate on Guam Peggy Araullo Llagas
LEARN HOW TO AVOID FORECLOSURE AND KEEP YOUR HOME WATCH OUT FOR PREDATORY LENDERS (Part 1) Here are some warning signs: • Sounds too easy. “Guaranteed approval” or “no income verification” regardless of borrower’s current employment, credit history, and assets. These claims indicate the lender doesn’t care about whether you can afford to make the payments over the long haul. • Excessive fees. Higher lender and/or mortgage broker fees than are typical in your market. Because these costs can be financed as part of the loan, they are easy to disguise or downplay. On competitive loans, fees may be negotiable. It is common for home buyers to pay only 1 percent of the loan amount for prime loans. By contrast, a typical predatory loan may cost 5 percent or more. • Large future costs. High-risk adjustable rate mortgages where the payment rises a lot after the initial interest rate period are seldom appropriate for families who already have had problems repaying other loans. Home buyers should avoid “balloon” payments (a lump sum due at the end of the loan’s term). • Closing delays. The lender delays closing, so your commitment on a reasonably priced loan expires. • Over-valued property. Inflated appraisals that allow excessive fees to be included in the loan and result in the borrower owing more to the bank than the home is worth. • Barriers to refinancing. Prepayment penalties that make it hard for a borrower to refinance in order to pay off a high-cost loan by refinancing into a low-cost loan. • No down payment loans. These loans may be split into two mortgages, with one having a much higher cost. Home buyers should be sure they can afford the payments. • Unethical document management. Ethical lenders and brokers always require you to sign key loan papers, and never ask you to sign a blank document or a document dated before the date you sign.
Guam Association of Realtors®
-National Association of REALTORS® -
The Voice for Real Estate on Guam 414 West Soledad Avenue, GCIC Building, Suite 500-U, Hagåtña, GU 96910 Office: (671) 477-4271 • Fax: (671) 477-4275
www.guamrealtors.com • email: eo@guamrealtors.com 32 CasaGuam ◆ May 2009
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