CONTENTS Departments 8
Market Report Market Stabilizes
12
Feature Life-Long Renting
18
From the Experts Selling in a
Message From GAR
5
Message from the President By Christopher Felix CPM,CIPS,CCIM
H
Slow Market April 2010 • Vol. 3 • No. 4
20
Profile Carmen Mesa Inspired by Millions
P.O. Box 24881 Barrigada, GU 96921 Tel: (671) 472-3495 | Fax: (671) 472-3498 email: office@yellowpagesink.com
|Publisher| 24
Curb Appeal Increase Your House’s Value
26
How To D.I.Y.
30
Jay-R S. Dominguez
|Advertising/Sales| Carl Perez
|Traffic/Circulation Manager|
The Home Buying
Josie Redmond
Process: Step by
|Production Manager|
Step 29
Julian T. Cooper-Nurse
|Business Sales Manager|
Who Ya Gonna Call? Classifieds
Mark S. Burke
|Production Assistant| Lynda Young
|Graphics & Layout| Mark S. Burke • Jon Barnhart
|Editorial Contributors| 32
Closing Guam Association of Realtors® Standards of Conduct for
Faye Varias Creative Services Christopher Felix Sandy Gould Yow W. Nicholas Captain Peggy Araullo Llagas
Realtor® Associations CasaGuam is Published by:
ey again- Wow another month has gone by! It was a very busy one for me- unfortunately not too much in making money. March is corporate tax month and we had to file our corporate taxes for my company and the companies we manage properties for (over 50!). So I spent the month answering questions from the accountants. One good thing that happened for the Guam Association of Realtors® was the passage of Bill 319 by the Legislature. I’d like to thank our REALTOR® Association Legislative Chairperson, Marilou Lacson of Jose Realty for spearheading this bill for us and our Past President, Steffen Nui of GCIC Property and Management for all their hard work and for pushing this along last year. Special thanks to Senator Ben Pangelinan and his great staff for getting this bill on the floor and passed. I sure hope the Governor signs it this week! This bill cleans up some problems and misunderstandings that the Real Estate License Law had and we believe will promote more professional service from the real estate industry and get you better service from licensed real estate people. The law removed the waiver of continuing education for those of us licensed over 15 years and makes it mandatory that everyone take continuing education for our license renewals regardless of our age or experience. It also requires everyone to have at least two years experience as a real estate agent before they can get their brokers license. This will help ensure you are working with a firm that is headed up by an experienced person with years of practical knowledge. I wish you all well and hope you have a great April!
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 © 2008. 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.
CasaGuam.com 1
Real Estate Listing By Village Looking for something in particular? See the listings index below to point you in the direction of a listing in this real estate guide that’s right for you. Simply look up the village, type of home or apartment and see the ad on the corresponding page number. Happy Home Hunting!
FC - Front Cover
IBC - Inside Back Cover
IFC - Inside Front Cover
BC - Back Cover
Century 21 Commonwealth Realty . . . . . . . . .16 Coral Sea Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .5
Dededo
BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .15
BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 The Real Estate Professionals . . . . . . . . . . . . . . .7 Century 21 Commonwealth Realty . . . . . . . . .16 Coral Sea Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .5 RE/MAX Diamond Realty . . . . . . . . . . . . .10, IBC Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC
Property Mangement Group . . . . . . . . . . . . . . . .3
Harmon
Harmon
Hagatña
RE/MAX Diamond Realty . . . . . . . . . . . . . . . .IBC
RE/MAX Diamond Realty . . . . . . . . . . . . . . . .IBC
Century 21 Commonwealth Realty . . . . . . . . .17 Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .15
Mangilao
Mangilao
The Real Estate Professionals . . . . . . . . . . . . . . .7 Century 21 Commonwealth Realty . . . . . . . . .16 RE/MAX Diamond Realty . . . . . . . . . . . . . . . .IBC
The Real Estate Professionals . . . . . . . . . . . . . . .7 Century 21 Commonwealth Realty . . . . . . . . .17
Dededo
BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5
The Real Estate Professionals . . . . . . . . . . . . . . .7 Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Century 21 Commonwealth Realty . . . . . . . . .16 Coral Sea Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .6 RE/MAX Diamond Realty . . . . . . . . . . . . . . . .IBC
Merizo
Mongmong-Toto-Maite
The Real Estate Professionals . . . . . . . . . . . . . . .6
Hagåtña Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC
GPR The Real Estate Consultants . . . . . . . . . . .7 Century 21 Commonwealth Realty . . . . . . . . .16 RE/MAX Diamond Realty . . . . . . . . . . . . . . . .IBC
Commerical For Rent Barrigada Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Century 21 Commonwealth Realty . . . . . . . . .17
Harmon
Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Century 21 Commonwealth Realty . . . . . . . . .17 RE/MAX Diamond Realty . . . . . . . . . . . . . . . .IBC
Hagåtña
Asan Century 21 Commonwealth Realty . . . . . . . . .16
Barrigada
BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 Coral Sea Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .5 Century 21 Commonwealth Realty . . . . . . . . .16 Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC
Property Mangement Group . . . . . . . . . . . . . . . .3 Marianas Steamship Agencies, Inc . . . . . . . . .10 Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Century 21 Commonwealth Realty . . . . . . . . .17
Latte Heights
Tamuning
Mongmong-Toto-Maite
RE/MAX Diamond Realty . . . . . . . . . . . . . . . .IBC
Coral Sea Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .9 Century 21 Commonwealth Realty . . . . . . . . .17
Harvest Residence . . . . . . . . . . . . . . . . . . . . . . . . .2 Titan Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6 Coral Sea Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .6 RE/MAX Diamond Realty . . . . . . . . . . . . . . . .IBC
Ordot-Chalan Pago
Ordot-Chalan Pago
BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Century 21 Commonwealth Realty . . . . . . . . .17 RE/MAX Diamond Realty . . . . . . . . . . . . . . . .IBC
BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 The Real Estate Professionals . . . . . . . . . . . . . . .9 RE/MAX Diamond Realty . . . . . . . . . . . . . . . .IBC
Piti Nimitz Towers . . . . . . . . . . . . . . . . . . . . . . . . . . . .14
RE/MAX Diamond Realty . . . . . . . . . . . . . . . .IBC Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC
Century 21 Commonwealth Realty16Coral Sea Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 RE/MAX Diamond Realty . . . . . . . . . . . . . . . .IBC
Sinajana
Santa Rita
BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 Coral Sea Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .9 Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Century 21 Commonwealth Realty . . . . . . . . .17
Merizo
GPR The Real Estate Consultants . . . . . . . . . . .7 Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC
Tumon Century 21 Commonwealth Realty . . . . . . . . .17 Property Mangement Group . . . . . . . . . . . . . . . .3
Commercial For Sale Agat Century 21 Commonwealth Realty . . . . . . . . .17
Dededo Coral Sea Realty . . . . . . . . . . . . . . . . . . . . . . . . . .11
Mangilao Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC
Tamuning BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 Coral Sea Realty . . . . . . . . . . . . . . . . . . . . . . . . . .11 Century 21 Commonwealth Realty . . . . . . . . .17
Multi-Family For Sale
Piti
Sinajana
Ordot-Chalan Pago
Tamuning
Century 21 Commonwealth Realty . . . . . . . . .16 Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC
BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 Century 21 Commonwealth Realty . . . . . . . . .16 RE/MAX Diamond Realty . . . . . . . . . . . . . . . .IBC
Tamuning
Century 21 Commonwealth Realty . . . . . . . . .17 RE/MAX Diamond Realty . . . . . . . . . . . . . . . .IBC
Tumon
Yigo
Yigo
BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 The Real Estate Professionals . . . . . . . . . . . . . . .6 Century 21 Commonwealth Realty . . . . . . . . .17
MZ Homes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 Century 21 Commonwealth Realty . . . . . . . . .16 Coral Sea Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .5 RE/MAX Diamond Realty . . . . . . . . . . . . . . . .IBC Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC
Agana Heights Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .15
Agat
Nimitz Hill
Talofofo
Tumon
Residential For Rent
RE/MAX Diamond Realty . . . . . . . . . . . . . . . .IBC Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC
Century 21 Commonwealth Realty . . . . . . . . .17
Century 21 Commonwealth Realty . . . . . . . . .17 Century 21 Commonwealth Realty . . . . . . . . .17
Mangilao
Coral Sea Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .6 RE/MAX Diamond Realty . . . . . . . . . . . . . . . .IBC
Ordot-Chalan Pago
Century 21 Commonwealth Realty . . . . . . . . .17
Inarajan
Talofofo
GPR The Real Estate Consultants . . . . . . . . . . .7 The Real Estate Professionals . . . . . . . . . . . . . . .6 Coral Sea Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .6 Century 21 Commonwealth Realty . . . . . . . . .17 RE/MAX Diamond Realty . . . . . . . . . . . . . . . .IBC
Hagåtña
Harmon
Residential For Sale
Coral Sea Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .5
Tamuning Century 21 Commonwealth Realty . . . . .16,17 Coral Sea Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .6 RE/MAX Diamond Realty . . . . . . . . . . . . .10, BC Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . .10, BC
BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5
Piti Century 21 Commonwealth Realty . . . . . . . . .16
Sinajana Century 21 Commonwealth Realty . . . . . . . . .16
Talofofo Century 21 Commonwealth Realty . . . . . . . . .16
Tamuning Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Century 21 Commonwealth Realty . . . . . . . . .16 Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC
Tumon
Anigua
Agana Heights
Yona
Century 21 Commonwealth Realty . . . . . . . . .16
Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .15
Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .15
Yigo
Asan
Agat
RE/MAX Diamond Realty . . . . . . . . . . . . . . . .IBC Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC
Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC
The Real Estate Professionals . . . . . . . . . . . . . . .9 Century 21 Commonwealth Realty . . . . . . . . .17
Barrigada
Land For Rent
The Real Estate Professionals . . . . . . . . . . . . . . .7 Century 21 Commonwealth Realty . . . . . . . . .17
Asan
Hagåtña
RE/MAX Diamond Realty . . . . . . . . . . . . . . . .IBC
Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .15
Dededo
Barrigada
RE/MAX Diamond Realty . . . . . . . . . . . . . . . .IBC BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 The Real Estate Professionals . . . . . . . . . . . . .6,7 Coral Sea Realty . . . . . . . . . . . . . . . . . . . . . . . . . .11
The Real Estate Professionals . . . . . . . . . . . . . . .7 Century 21 Commonwealth Realty . . . . .16,17 Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC
Agana Heights
Dededo
Agat
4 CasaGuam April 2010
Land For Sale
Coral Sea Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .6 The Real Estate Professionals . . . . . . . . . . . . . . .7 Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Century 21 Commonwealth Realty . . . . . . . . .16 RE/MAX Diamond Realty . . . . . . . . . . . . . . . .IBC Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC
Yona Century 21 Commonwealth Realty . . . . . . . . .16
Century 21 Commonwealth Realty . . . . . . . . .16 Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC Coral Sea Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .5
CasaGuam.com 5
6 CasaGuam April 2010
CasaGuam.com 7
Market Repor t
Market Stabilizes By Nick Captain
A
fter peaking in 2007, Guam's real estate market suffered from sharp declines in sales activity during 2008 and 2009. In 2008, the decline in overall sales activity reflected over 46 percent, and contraction in 2009 reflected an additional 32 percent. Compared to the $687 million in sales activity during 2007, the 2009 annual figure of $251 million reflects a decline of 63 percent. The 2009 figure was the lowest annual total since 2004, a bit shocking considering the vast difference in market fundamentals between 2004 and 2009. The most significant contributing factors affecting the shrinkage in sales activity since 2007 involve foreign investment, which plummeted along with the global financial crisis, and the widening gap between buyer and seller expectations. Captain Real Estate Group expects foreign investment to increase significantly as Asia continues to recover and massive military build-up related contracts are awarded in 2010. During the past year, all sectors reflected sales volume contraction. The land sales sector reflected the sharpest sales volume decline of 57 percent down to $45.6 million. Islandwide land sales volume is down almost 80 percent from the 2007 peak. In the housing sector, condominium sales activity reflected a decline of nearly 53 percent to $21.7 million and single family house sales reflected a decline of over 16 percent to $136.4 million. The commercial, industrial and multi-family residential market sectors reflected declines of 10 to 17 percent in 2009. 8 CasaGuam April 2010
A closer look at quarterly real estate sales activity highlights the global financial boom and bust cycle's impact on Guam's market. While the world was awash in capital, Guam's Q4 2006 to Q3 2007 sales volume reflected between approximately $150 to $200 million. That figure plummeted to $36 million during the first quarter of 2009, as risk and fear concerns wiped out foreign investment and high priced deals. However, the next three quarters of 2009 reflected sales growth of 55, 25, and 26 percent growth, respectively, with fourth quarter 2009 sales activity reflecting a robust $88.6 million. Captain Real Estate Group is currently projecting 2010 sales volume at $300 million or 20 percent growth. Growth in 2010 is projected due to the unusually weak first quarter of 2009, prevailing market forces and anticipated military build-up related economic growth. In addition to sales volume figures, another indicator of real estate market conditions involves transactions closed. In 2009, 1,187 real estate transactions closed on Guam, a drop of 20 percent from 2008. The 2009 total is the lowest since 2002, near the bottom of the recent cycle, and approximately one-third less than the peak year of 2007. The industrial and apartment markets reflected only 6 transactions closed in 2009, down from 35 sales in 2007. The single family residential market reflected 616 transactions closed in 2009, down 20 percent from 2007 and approximately the same figure reflected in 2004 and 2005. The 150 condominium transactions closed in 2009 reflects a drop of 38 percent from 2008 and 61 percent contraction from the 2007 peak.
Housing median prices appear to have stabilized, with modest contraction in 2009. Single family houses reflected the second highest median price on record at $200,000. This figure is down 7 percent from 2008, but still 60 percent higher than five years ago. The median price of a condominium unit on Guam in 2009 was $122,500, down over 12 percent from 2008, but still up by 36 percent compared to 2004. Prices in other sectors moved in different directions, with industrial land reflecting the strongest performance. The real estate market in 2009 was supported by strong loan activity. Our database reflects total real estate loans for 2009 at $534.7 million, down just 11 percent from 2008. Loan activity was dominated by First Hawaiian Bank ($132.9 million) with nearly 25
percent of market share, followed closely by Bank of Guam ($121.6 million) at 23 percent. The next most active real estate lending activity occurred at ANZ/Citizens ($77 million), Coast 360 ($64.3 million) and BankPacific ($33.8 million). Recently ranked by Forbes Magazine as the No. 1 bank in the USA, Bank of Hawaii's Guam real estate lending activity dropped to only $32.4 million, or just 6 percent of market share, down from over $83 million in real estate lending in 2007 and nearly 20 percent market share in 2006. At the big US banks, Wells Fargo's Guam lending dropped from $27.1 million in 2006, to only $4.6 million in 2009 while Citibank lending dropped from $51.9 million in 2007 to just $13.1 million in 2009.
ADVERTISEMENT
Making Your Dream Home a Reality
D
oes it seem like you will never be able to build your dream home? If you are like many people, you are probably overwhelmed with the many decisions involved. George A. Gill and Associates Inc. with 25 years of experience has the solution: home consulting. Our services include site review, utility review, house lot orientation, surveying, plan design, plan drawing, legal requirements, building permits, loan structuring for upgrades, contractor bids and selection, contract review, change orders, and project supervision. When you have purchased a home we also provide decorating services, including painting, tile selection and
10 CasaGuam April 2010
design, closet and pantry design, cabinetry design, millwork selection, light fixture selection, bath hardware and mirrors, and plumbing fixtures. We also provide green features, such as water cisterns, windmill power, solar and environmentally sound septic systems. After 25 years of home consulting, we have made our expertise available for those wanting a stress-free solution to building your dream home. You can make the process fun and enjoyable by hiring us to do the work for you. The initial meeting requires a copy of your legal land map, site visitation, house orientation on lot, and utility requirements with locations. Next, we talk about your home plan which they can draw for you (including
By Jim Ballman
dimensions, elevations, and printing). Because Guam has a multicultural building industry, effective communication can be a stumbling block. Let our company interview contractors, bid plans, negotiate price,
and ensure all necessary documentation for contracts have been included. Contractors will like working with George A. Gill and Associates because they can shorten the building of most projects and you will save money.
CasaGuam.com 11
Feature
Feature
Real estate may be a good investment, but renting has its benefits too.
By Alex Salazar
Don’t buy. Rent instead. es, we meant to say that. When people challenge a conventional way of thinking, it can sometimes seem sacrilegious. However, some good can come when a new line of logic comes in and throws conventional wisdom out the window. In our society, many people believe that renting forever is not a good idea and buying a home is a great investment. And for some people, it may actually prove to be a great way of life.
Y
Chris Felix, president of the Guam Association of Realtors and principal broker of Century 21 Realty Management, said five advantages immediately come to mind when considering renting versus buying. Read on. 1. There are no buying hassles, such as bank qualifications, credit checks and the like. Buying a house is a long tedious process with a lot of back and forth communication and can be frustrating if you are uninformed. Looking for a rental is relatively pain free. 2. There is a short time commitment which can be as little a month versus years of ownership. CasaGuam.com 13
Feature Owning a house is not always the best financial choice. Renting a home, apartment, or condominium makes more financial sense than buying a home if you aren’t planning on staying for more than three years. You also avoid the risks that homeowners face — losing the money they invested in their home if housing prices decline. For example, if you spend $2,000 a month on your mortgage, not including your home maintenance costs and taxes, and your home is either currently depreciating or only appreciating at a nominal rate and your current rent is costing you only $1200 a month, you could have invested that extra $800 a month in even a low-yielding savings account, and could actually build more financial assets at a faster rate than a home could. Homeowners also risk foreclosure if they miss mortgage payments. As a renter, you avoid those risks altogether. If you are staying in an area a long time, you may want the personal and financial advantages of home ownership. In either case, it is important that you understand how to make the most of your housing decision to protect and grow your money. 3. Rental payments are less than monthly mortgages and common area fees, if applicable. When you purchase a home, you have to pay all sorts of fees, such as property taxes, fees for homeowners associations, all sorts of utilities that you have never had to pay for before, expensive homeowners insurance and the like. Renter’s insurance is actually much cheaper than you would homeowners insurance, by about 80 percent! Now throw in home maintenance expenses and property taxes, also adding in additional amounts for almost inevitably higher homeowners insurance, gas, electric, water, and potentially neighborhood covenant fees - and the savings you realize each month through renting becomes even more noticeable. 4. In most cases, you don’t have to do your own repairs. Another benefit of renting is that someone else does the repairs. When something goes wrong in your home, you have to fix it! But when something goes wrong in your apartment, all you have to do is give a call to the apartment manager who has to take care of it. When you rent, you get free appliances with no cost of replacement, and that’s a great deal. More often than not owning a home can be much more expensive than you think. As a renter, you are not responsible for upgrading appliances, modernizing a kitchen, or replacing a leaking roof. And instead of spending weekends on yard work, you are free to do what you want to do. 5. If you need to relocate, breaking a rental contract is an easier process. Renting really keeps you flexible in your lifestyle. When you are renting, generally you can pickup and move almost whenever you want to wherever you want without much of an issue. You might face a small early termination fee if you have a lease, but you can get out of it much quicker than selling a home which can take a period of months. 14 CasaGuam April 2010
Feature So when does it make sense to buy a home? While you may appreciate the advantages of renting, you should also recognize some important benefits of owning your own home. Assuming you have saved enough for a down payment on a home, you should compare the benefits of renting versus buying: • Each time you make a monthly mortgage payment, you build equity in your home, which can be converted to cash by refinancing or selling your property. • Most real estate properties appreciate in value over time, so your home becomes an important asset. • You benefit from the tax benefits of mortgage interest and property tax deductions. • If you have a fixed-rate mortgage, your monthly payments are set—an advantage for long-term financial planning. • Your first home brings financial advantages of first-time home-buyer programs. In addition to these financial benefits, there are other positive effects of home ownership. When you put down roots, you become part of a community and can benefit from the stability and security that provides. You can also enjoy a level of independence and freedom not possible when a landlord is in control of your living space. That means you can decide whether to have pets, change the décor of your home, or plant a garden.
CasaGuam.com 15
Land (House Lot & Investment) Commercial
Piti Lot - $49K 430sqm #10-912
Yigo Lot - $55K 1,417sqm #09-3041
Dededo Land - $60K 2,075sqm #10-635
Laguina Estates, Yona $65K 1,903sqm #10-997
Dededo Land - $65K 1,957sqm #10-1000
Yigo Land - $65K 1,853sqm #10-1037
Yigo Land - $65K 1,853sqm #10-1038
Yigo Land - $65K 1,853sqm #10-1039
Dededo Land - $70K 1,957sqm #10-999
Macheche Ded - $100K 1,730sqm #09-2902
Yigo Land - $195K 5,559sqm #10-1036
Tamuning Land - $260K 702.24sqm #10-843
Piti Lot - $498K 15,088sqm #09-264
Barrigada Comm. Lot $545K 4,171sqm #10-987
Talo Verde Tam. - $900K 1,551sqm #10-1112
Inarajan off Rt. 4 - $45K 2,280sqm #06-865
Yigo Rt. 15 - $180K 7,407sqm #06-2108
Tumon - $12,614,700 25,229sqm #06-3019
Tumon - $2,008,265 4,016.53sqm #06-3020
Chalan Bada Dededo $45K 2,023sqm #10-824
Naki St. Ordot-Chn Pago $100K 3,774sqm #07-3157
Ipan-Talofofo $575K 27,774.22sqm #07-3850
Agana Heights $29K 686sqm #08-2077
Tumon $8,386,470 9,423sqm #08-3021
Dededo $45K 2,023sqm #10-825
Pago Bay - $290K 1,245sqm #09-3556
Rt. 15 Yigo - $55K 1,432sqm #09-1144
Murrey Dr. Asan - $650K 7,984sqm #09-1983
Dededo $65K 1,245sqm #10-633
Lot 456 Merizo - $250K 43,837sqm #10-622
Mangilao - $1,049,000 10,000sqm #09-206
Sinajana - $48K 1,957sqm #09-4076
Tamuning - $1.2M 3,818sqm #10-301
Tamuning - $7K/mo 3,818sqm #10-302
Yona - $80,145 1,781sqm #09-3328
Asan - $650K 7,984sqm #09-1983
Rt. 16 Barrigada $1,500/mo #08-3294
Agat House & Mart $599K #09-241
New Tamuning Rest. $50K #09-2700
Star Bldg. Upper Tumon $1,800/mo #09-2898
Office Building, Hagåtña $6,270/mo #10-799
Mangilao Condo $600/mo 1bd/1ba #10-1154
Talo Verde - $900K 7,984sqm #10-1112
Office Space, Hagatna $900/mo #10-411
Fatima St. Dededo $2,500/mo #10-754
Fatima St. Dededo $4,500/mo #10-753
Harmon Warehouse $3K/mo #04-434
Tamuning - $4.5M #08-3898
Flora Pago Condo Chl. Pago $1250/mo 2bd/1.5ba #10-1140
RENTALS
Tumon Horizon Condo - Enjoy a daily view of Tumon Bay for an affordable price, partially furnished with a swimming pool, mail delivery and assigned parking including basic cable service. A few condos left with this package. Centrally located and a few minutes drive to Tumon Bay. $1200/mo #10-1107 Yona - Panoramic ocean view of Ilig Bay from this breezy first floor unit right on the cliff. Must see! $1400/mo #10-992 Pia Resort Condo-Tumon - Nice 2 bedroom 2 bath condo in Tumon with nice view of the ocean and Tumon area. Walking distance from shops, hotels and restaurants. The interior was recently painted. $1500/mo #10-1040
Oka Towers Condo-Tam. $169,999 1bd/1ba #10-957
Dededo Home - $175K 4bd/2ba #10-1048
Dededo Home - $178,999 San Vitores Garden Condo 3bd/1ba #10-1006 Tum - $186K 3bd/2ba #10-898
Yona - Cozy home tucked away on a private street yet close to grocery stores and other conveniences. $1700/mo #10-913 Horizon Townhouse-Tumon - A nice kitchen nook countertop made of granite stone, which you will no longer need a dining table, this townhouse can be yours if the price is right. This centrally located unit at Horizon Town Homes (10C) is looking for a nice tenant that will take care of the unit and probably maybe able to buy it in the future. Rent it before buying. $1700/mo #10-923
Ordot-Chalan Pago Home $195K 5bd/3ba #10-947
San Vitores Terrace Tum $205K 3bd/2ba #10-918
Yigo Home - $260K 3bd/2.5ba #09-3488
Dededo Home - $335K 3bd/2ba #10-835
Tumon Heights Court-Tamuning - Spacious 3BR 2BA condo in the heart of Tamuning. Close to school, shopping, minutes away from Tumon Bay. $1700/mo #10-1014 Trophy Condo-Yigo - Brand new condos extremely close to base and walking distance to stores. You must see this unit to appreciate it. Unit can come furnished or unfurnished. $1700/mo #10-1052 Dai-Ichi Condo-Tamuning - Great location! Close to Tumon and Tamuning without all the traffic of downtown Tumon. Owners will install new Split A/C's. $1800/mo #10-879 Yigo - Very cozy home, spacious and clean. Must see to appreciate! $1800/mo #10-900
Homes & Condos
Asan Home - $429K 4bd/3ba #10-1055
Asan Home - $486K 4bd/3ba #10-1057
Liguan Terrace Ded. East Nandex Ave. NIL Dededo $275K 4bd/2ba #10-1110 $142K 3bd/2ba #10-712
Liguan Terrace-Dededo - Walking distance to Micronesia Mall, gas station and a few minutes drive to Dededo Public Health. It has 2 car garage and the unit is fully fence for children to play around, a dog cage for pet lovers and if you'd like to clear a dirty kitchen located at the back of the unit, which was used temporarily as a storage space by the owner. $1900/mo #10-838 Takano Subdivision-Yigo - Nice home in a quiet neighborhood! Close to AAFB, fenced and gated, well maintained, big yard with fruit bearing trees! $1900/mo #10-890
Vitores Garden Condo Tam. $219K 3bd/2ba #10-691
Perez Acres Yigo $220K 3bd/1.5ba #10-428
Yigo Home $157K 2bd/1ba #10-440
Yigo Home - $227K 3bd/2ba #10-235
Sinajana - Well maintained 3bd/2ba located central Guam. 20min. to Naval Base, 5 min. to Naval hospital. Open layout, spacious, clean, ready to move in. $1900/mo #10-931 Sinajana - Well maintained 2bd/2ba located central Guam. 20min. to Naval Base, 5 min. to Naval hospital. Open layout,spacious master bed room with walk in closet, clean, ready to move in. $1900/mo #10-932
Mangilao $263K 3bd/2.5ba #10-358
Perez Acres Yigo $246,500 4bd/2ba #10-338
Dededo Home $295K 4bd/3ba
Yigo Home $260K 3bd/2ba #09-3488
Summer Palace-Dededo - Executive living in a great neighborhood - Summer Palace Townhouse, Replaced A/C with 30-40% more efficient unit, Newly tiled, new refrigerator, gated community, swimming pool, 24 hr Guard, Playground, many..many more. $1900/mo #10-974 Yigo - Enjoy the use of this extremely spacious yard and cozy 3 bed 2 bath home in a nice neighborhood. Only 1 minute away from AAFB back gate and UPI Elementary School. Now fully fenced for security and convenience. Appliances are included with split AC Units in all rooms to save you big bucks on your utility bill. $1900/mo $10-1009 Yigo - Beatufil home newly painted inside and out ready to occupy minutes away form Air Force base. $2200/mo #10-1111
Multi-Family
Sinajana - Beautiful 2-storey house with 3 bedrooms and 2 bathrooms. $2600/mo #10-1120 Tan Pelicita Dungca Tam. $2.8M 20 Units #07-416
Guevara Properties Ordot-Chn Pago $650K 6 Units #09-507
Bradley Place Hagåtña $1.6M 18 Units #09-2306
Kim’s Apartment Tamuning $1.2M 9 Units #10-82
Ordot-Chalan Pago - This is a Spacious first floor Ocean View unit with great features, a must see. LOCATION: excellent neighborhood, Walking distance to Pago Bay, a short distance to Hagatña, Navy Hospital and 25 min. drive to Big Navy Base. Price is negotiable! $2700/mo #10-1062 Yigo -Beatiful Excutive Home Minutes away form NCTS and Anderson. Land Scaping still in progess. $4400/mo #10-1026
Carlos Heights Tam. $320K #08-2980
Mangilao $1700/mo 3bd/2ba #10-1161
Dededo $1900/mo 3bd/2.5ba #10-1160
Villa Pacita Yigo $1950/mo 3bd/2ba #10-1123
Dededo -Spacious home right on VSA Benavente Street, Harmon. Walking distance to Compadres Mall and banks. A few minutes drive to the Micronesia Mall, Airport and Mcdonald's. Rent with covered carport. NEGOTIABLE! 1,500/mo #09-3138 Dededo - Walking distance to Micronesia Mall, gas station and a few minutes drive to Dededo Public Health. It has 2 car garage and the unit is fully fence for children to play around, a dog cage for pet lovers and if you'd like to clear a dirty kitchen located at the back of the unit, which was used temporarily as a storage space by the owner. $1,700/mo #10-838 Dededo - Here's a 4BR/1BA newly painted house located in Machanao, Dededo. Has ceramic tiles, new A/C, spacious living room and a large front patio. As a bonus, Power and Water Included!!! Act fast! Section 8 ok. $1,700 10-676 Vitores Garden C, Dededo - Nice 3 bedroom 2 bath condo on the second floor with some ocean view. Some furnitures provided $1,700 #10-603
From the Experts
Selling in a Slow Market By Sandy Gould Yow
F
irst off, take on the ‘can do’ attitude, because this project is very doable, and with the correct state of mind, you could even turn this lemon into lemonade! You want to step back from the house and look at your house through new eyes. Maybe the eyes you had when you bought it. Secondly, understand your surroundings. What have neighborhood houses sold for? Are there any that are currently for sale? What are the benefits of living where you do? For example, is your house in a secluded area on an acre of property with fruit bearing trees? Or, is your house close to restaurants and shopping? Every property has an upside, and this is what you want to understand and focus on. Next, determine how much money you can spend on upgrading your home. Upgrading does not have to mean adding a room, or demolishing a shed. And, much of the needed upgrading may be able to be done by you or other family members to have better control over the work, and to save money. Often the simple work that needs to be done is painting the exterior and/or interior, fixing minor plumbing problems, or simply cleaning up. The next thing you need to do is to love your trash receptacle, because you want to throw away absolutely everything you don’t need. You could give it away, or store it if it’s not a necessity. This is de-cluttering. Simply walk though each room and remove family photos, knick knacks, wall hangings, and all the stuff that accumulates through the years. You want your house to be more barren than full, and not over-decorated. Keep it simply and clean. You may like that electronic waterfall photo, but a buyer may think it tacky. Water blast the drive way, and change that old screen door. Take the small appliances off the kitchen counter-tops, keep the dish drainer hidden from view, and keep all personal items tucked away; like vitamins, tooth brushes/paste, make-up, etc. We don’t necessarily live like this, but you want buyers to see the house
18 CasaGuam April 2010
and imagine their own items in these places, not yours. De-cluttering will also allow a buyer to see the actual size of the home and not feel that it is smaller than it really is. There are inexpensive ways you can de-clutter and dress-up your home. And, as we’ve heard, time and time again, first impressions go a long way. So, when a buyer drives up to your house, what do you want them to see? Not an unkempt yard, black water stains from the air conditioners, red dirt along the bottom of the house, an old paint job, and toys strewn about. This says to a buyer that the house has not been well maintained. What can they expect on the inside? And, what other items, not easily visible, have also been neglected? Like the air conditioning, the roof, appliances, and the like. Have a data sheet that provides the buyers with as much information
about your house, like the house size, the lot size, the zoning, etc. This is apt to answer a lot of the buyer’s questions before the questions are even asked. Put yourself in the buyer’s shoes. Make your house look too good to resist. Plant flowers under the window, and when buyers walk in, have potpourri lain out around the house, or have scented candles burning. Bathrooms and the kitchen are the most important rooms, so make sure these sparkle and smell good. Hide all trash cans, turn off the TV and put on some ‘easy listening’ type music. This is all part of staging your home. In today’s market there are hundreds of homes being sold. Think like the buyer: ‘Why would I buy this house?’ And, go from there! …and, call me if you should need any help. The Best of Luck.
• The market is slow. • You need to sell your house. • Your time is limited.
WHAT DO YOU DO?
CasaGuam.com 19
Profile
Inspired by Millions
Carmen Mesa was inspired to go into real estate after being enamored in the Big Apple.
By Alex Salazar
Carmen Q. Mesa REALTOR® Today’s Realty 2010 Vice President, Guam Association of REALTORS®
Education: Notre Dame High School and Sacramento City College, Calif. Children: Jacob Mesa Bustamante, 14 Hobbies: Working out at the gym, running and jet skiing Business motto: "Work hard and you will see results."
Casa Guam magazine is very informative. They bring out the best in real estate properties and the agents. I love their vibrant choices on pictures for their cover.
“
20 CasaGuam April 2010
“
W
hen Carmen Q. Mesa visited New York City, it triggered more than the usual awe most tourists experienced. It propelled her career into real estate. “I love traveling,” said Mesa. “One favorite place I traveled to was New York City. I enjoyed seeing all of Donald Trump’s real estate and so I started to read about him.” After that, she was hooked and was motivated to get her real estate license. She remains a fan of Trump and uses his books as a tool for success. “I have read all his books and it helps me today with my success as a Realtor and as an investor.” Mesa said the industry isn’t without challenges. She said the biggest ones involve deals falling apart because of financing, property setbacks, title reports and other roadblocks. “I overcome them by working closely with everyone that can make the deal work to close from the bank, the appraiser, the surveyor, the title companies, land management, Department of Public Works and the lists goes on.” But she finds joy in her memorable real estate moments and saving homeowners from foreclosures and seeing many happy buyers in their new homes. She recalls some of her most memorable as the sale of Imperial Suites and selling a $7 million lot in Yigo. “Every transaction is memorable — even the difficult ones,” she said. Mesa advises her clients that’s important to take your time and work with an experienced Realtor. “Ask as many questions as needed. Every question is important.” In the future, Mesa hopes to be more and more successful and eventually get her broker’s license to open her own firm and invest in more properties. But she said she would be remiss if she didn’t mention her parents, the late John O. Mesa and Andrea Q. Mesa, owners of JJ Moving Service as he inspiration. “[They taught me] early in life about what hard work is and what it takes to accomplish your goals. My success is a gift from the Lord and my parents.”
CasaGuam.com 21
LEADER IN METAL INDUSTRY OPENS GUAM SHOWROOM
• GuamShowroomGrandOpeningFriday, March 19th
ES TECH ABOUT THE COMPANY:
V
IP guests and media were given a glimpse of the latest in innovative esthetic building material, and an exclusive preview of ES Lite windows, during the grand opening of ES Tech Guam showroom, on Friday, March 19. ES Tech specializes in stainless steel and bronze metal, and is a leader in design, manufacturing, and installation of aesthetic building materials, such as windows and doors, balcony handrails, revolving doors, shutters and curtain walls. 22 CasaGuam April 2010
They pride themselves on pursued technical development and gain a competitive edge by improving quality, lowering costs and increasing productivity boasting prices 30% cheaper than other local specialized glazing companies, while still being able to offer the most superior product on island. At the grand opening, guests were given an exclusive preview of the full product range showcase, and their innovative low emissivity window glass - ES Lite that can withstand winds up to 170mph, virtually eliminating the need
ES Tech, specializes in stainless steel and bronze metal, and is a leader in design, manufacturing, and installation of aesthetic building materials, such as ASTM Certified 170 mphwind resistant windows and doors, balcony handrails, revolving doors, shutters and curtain walls. • Leader in innovative metal works (steel, bronze) and glass • Opened Guam business in August 2008 • JP Superstore • JFK Interim School in Tiyan • Several private/luxury residences • Worked with Core Tech, 5M Const., Leading Tech, Future World • Also completed international jobs for Samsung in Korea and the Student Center at Tadmur, Qatar
About ES LITE WINDOWS: • ES Lite film coating deflects exterior heat, maintaining comfortable interior temperature – Reducing cooling costs by 30% • ASTM Certified to withstand 170 MPH winds – virtually eliminating the need for typhoon shutters. • Innovative windows that offer excellent insulation and condensation prevention. • ES Lite transmits over 76% of visible light while retaining interior light. • Has Clear Double Glaze(24mm) and can be tinted for privacy APPLICATIONS • External windows of buildings, high-rise residential and commercial buildings • External windows of high-end villa-type housing or apartment units • Windows of trains, ships and aircraft • Areas that require temperature and moisture control
From left to right: Sam Lim(office manager), Kyunghee Han(supervisor), Lyndon Kim(managing director), H.J. Kim(field supervisor) for typhoon shutters. The film coating deflects external heat, reducing cooling costs by 30% and transmits over 76% of visible light while retaining interior light. ES Lite windows are mainly used for external windows of buildings and high-rise residential buildings and commercial buildings, external windows of high-end villa-type housing and apartment units, even windows of ships and aircrafts; areas that require temperature and moisture control. ES Lite is ASTM Certified, and available exclusively from ES Tech.
Lyndon Kim, managing director for ES Tech, stated that “not only do our windows withstand water penetration, wind-load and debris impact of 170mph, but is energy efficient, modern and sleek in design.” Kim went on to say that, “Customers not only want to be energy efficient, but want to do away with shutters that are clunky and visually unappealing for their home or businesses.” For more information, please contact Lyndon Kim at 671-647-6940, or visit our website at www.estechnics.com. CasaGuam.com 23
Curb Appeal
Easy Ways to Increase Your House’s Value By John Whiteside
B
efore getting your house valuated think about the list below and if you should implement them to increase your house’s value.
Clean up your house: Clean your house thoroughly. By this I mean do everything humanly possible to cleanse your house. Clean the windows, the sink, vacuum the floor, scrub the toilet, take out the trash, make sure nothing appears to be in a sloppy mess.
Fix what can be seen before what can’t: Quite a few people believe that its important to work on the things you can see before the things you can’t, this attracts more buyers. For example renovate the exterior before the interior before the creaky floor boards. If the house looks like a dump from the outside most people will not be willing to have a look around inside.
Seal the driveway: Do you have a gravel driveway? Do weeds pop up, do you find yourself constantly raking gravel, do you find that gravel manages to get into your house, do you get irritated by the loud noise of a car that’s driving on it makes? It may be time to end these problems and increase your house’s value by sealing your driveway.
Is the property secure? People will tend to pay more for a house they feel safe in, so consider; - Installing a burglar alarm - Installing a fire alarm - Installing security doors - Installing secure and reliable locks
Do you need new spouting? Spouting will be one of the first things an appraiser or buyer will notice when they look at your house. You do not want them to see rusted, dirty, broken spouting. Putting in new spouting will increase the value of your house and decrease the maintenance required.
Are your windows up to scratch? Windows are a powerful tool in your home improvement arsenal. If your windows are not 24 CasaGuam April 2010
aesthetically appealing or are in an awful state consider double-glazed windows, although possibly a bit expensive, are a good improvement. They will provide your house with superior heat insulation and sound insulation. If a room isn’t getting much light, consider enlarging the windows or putting in new ones. This will make the room a lot warmer and, “light and bright” which appraisers and buyer love.
Does the house need a power wash? Unless you regularly clean your house with a scrubbing brush it will probably be a good idea to get your house power washed. Being inexpensive, this will help get rid of the grime, dirt, and any other disgusting build up on your house.
Temperature: Curtains and windows will help with insulation but to really insulate your property you need to have a good insulator between walls such as fibreglass or foam. People will happily pay much more to be warm throughout the winter than spend the extra money on heating, so by doing this the value of your house can increase substantially. If excess heat is an issue then consider installing an air conditioner. Again, people will always pay extra to feel comfortable.
Things to think about before an open day. • Make sure you have a plan and know what your doing on the day. Assign jobs to all family members or flat mates to get things done quicker in case there is a showing scheduled with short notice. • Make sure everything smells nice and fresh, if you smoke do not smoke in your house for a few days before the auction. Open all the windows, use an air fresher if you have to. • Get rid of all your pets for the day. They can be a nuisance especially if they are over friendly and may cause some allergic reactions. • Your house should have a light and sunny atmosphere. Pull back all the curtains and blinds, turn lights if its dark or rainy. • If you have the luxury of controlling the temperature of your house make sure the temperature is comfortable for all your guest. • Clean your house thoroughly. By this I mean do everything humanly possible to cleanse your house. Clean the windows, the sink, vacuum the floor, scrub the toilet, take out the trash, make sure nothing appears to be in a sloppy mess. • Leave the open home unless your do not have a real estate agent there. If you have to stay, don’t let the buyers know your the seller and don’t approach or smother them unless they come to you. Try to stay out of their way.
Roofing: Going back to the idea of “fix what can be seen before what can’t”, a roof improvement can be very beneficial to the value of your house. Firstly the roof needs to be cleaned, preferably power washed. If the roof is in that bad of a shape maybe a re-tiling is in order.
This article is owned by http://www.use-your-equity.com and written by John Whiteside. Learn more about real estate investing, and how to create and use the equity in your home! The original article can be found at http://www.use-yourequity.com/General.html
CasaGuam.com 25
H o w To D . I . Y.
The Home Buying Process: Step by Step
B
uying a home can be a very intimidating process, especially if you've never done it before. So the first thing you should do before you start is to figure out whether owning a home is right for you. If you're in a region where housing is at a real premium or is very expensive (such as New York or California), it may be better for you to continue renting. Take into account that if you do buy a home, there are extra responsibilities and costs that go along with it — such as lawn care, snow removal, home maintenance and repairs, etc. Ok, then. You've decided that renting is no longer for you and you want to move into your own home. Where do you begin?
Step 1: Check Your Credit Report and Score Before getting any kind of loan, you should always check your credit. According to the law, you're allowed to receive one free copy of your credit report per year. You can do this by visiting Annualcreditreport.com. Don't forget to check your report for errors.
Step 2: Figure out How Much You Can Afford You can calculate how much you can afford by starting online. Quicken Loans Home Affordability Calculator can help you calculate an affordable monthly mortgage payment. Don't forget to factor in money you'll need for a down payment, closing costs, fees (such as for an attorney, appraisal, inspection, etc.) and the costs of remodeling or furniture. Remember that you don't always have to put down 20 percent as your parents once did. There are loans available with little to no down payment.
Step 3: Find a Real Estate Agent To find a real estate agent, it's best to shop around. Get recommendations from your friends and family and check with the Better Business Bureau. Talk to at least three or four real estate agents. Ask lots of questions and make sure they have answers that satisfy you. Don't go with anyone who makes you feel uncomfortable.
You also need to find a lender to get home financing. Most lenders offer pre-qualifications or pre-approvals. Pre-qualifications are only a guess based on what you tell the lender and are no guarantee. A pre-approval will give you a better idea of how big a loan you qualify for. The lender will actually pull your credit and get more information about you. Quicken Loans offers a Mortgage 1st approval before you start home shopping. With an actual approval, you're ready to make an offer, and the sale will go much quicker. Besides, your offer will look more appealing than other buyers' since your financing is guaranteed.
Step 4: Look for the Right Home Make a list of the things you need to have in the house you buy. Ask yourself how many bedrooms and bathrooms you'll need, how big you want the kitchen to be, if there's an adequate number of closets and cabinet space and if the yard is big enough for your kids and/or pets to play in. Once you've made a list of your must-have's, don't forget to think about the kind of neighborhood you want, types of schools in the area, the length of your commute to and from work and the convenience of local shopping. Take into account your safety concerns as well as how good the rate of home appreciation is in the area.
Step 5: Make an Offer on the Home Now that you've found the home you want, you have to make an offer. Most sellers price their homes a bit high, expecting that there will be some haggling involved. A decent place to start is about five percent below the asking price. You can also get a list from your real estate agent to find out how much comparable homes have sold for.
Step 6: Get the Right Mortgage for Your Situation There are many different types of mortgage programs out there, but as a first-time home buyer, you should be aware of the three basics: adjustable rate, fixed rate and interest-only.
www.bensonguam.com email: sales@bensonguam.com 26 CasaGuam April 2010
Adjustable rate mortgages (ARMs) are shortterm mortgages that offer an interest rate that is fixed for a short period of time, usually between one to seven years. After that, the interest rate can adjust every year up or down, depending on the market. These are good for people who don't plan on living in their home very long and/or are looking for a lower interest rate and payment. Fixed-rate mortgages are more traditional and offer a fixed interest rate (and thus a fixed monthly payment) for a longer period of time, usually 15 or 30 years, though they're available in 20 or 25 year terms. These are good for people who like a predictable payment and plan on living in their home for a good long time. Both fixed- and adjustable rate mortgages can have an interest-only payment. What this means is that for a certain amount of time during the loan term, you're allowed to pay only enough to cover the interest portion of your payment. You can still pay principal when you wish, but don't have to if your budget is tight. There is a myth that with interestonly mortgages, you don't build equity. This is not necessarily true, since you can build equity through home appreciation. The benefit to interest-only mortgages is that you increase your cash flow by not paying principal. Buying a home for the first time doesn't have to be a hassle if you're prepared and you know what to do and when to do it. Courtesy of ARA Content
CasaGuam.com 27
28 CasaGuam April 2010
Who Ya Gonna Call
CasaGuam.com 29
Classifieds Commercial Sales Harmon 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 Tumon Salon For Sale : Good income. All fixtures, equip., hair products included. Rent $1,300/mo pwr & wtr included. Facial products can be sold at additional price OBO.$39K. Call CHRISTINA 888-8626
Commercial Rentals Hagatna Building has lots of potential, located on Marine Drive. Second floor is a 4 unit apartment apartment. $1500/m. Call DEL 727-7380
Barrigada Barrigada Office Space! Very convenient, large office space with road frontage access located in Barrigada next door to Subway. $1500/month. Call DEE 727-3777
Dededo
Agana Heights
Mongmong-Toto-Maite
Tumon
Agana Heights Condo. Studio and 1 bedroom units, power/water/basic cable/security included. $38K - $72K $zero DOWN. Call DEE - 727-3777
Great 3bd/2ba home close to Agana and conveniently located. Waiting for the perfect owner. Fully fenced, secured gate. Definitely worth your time! $230K Call DOROTHY 482-3881
Tumon View Ph2 Back of DFS 2Bd Loc Back of DFS For Sale Lv Msg 9883592
Chalan Pago $78,000-1 Br/ 1Ba Nice for 1st timers May buy w/no $ down! Also good for investors – Has excel tenant! Apuseto Gdns-Pools-Mail Delivery! Call to see or information 646-7616 Horizon Properties, Inc. 777-7792
Dededo Villa Rosario Condominium 3bd 2 Ba Good location ! Furnished Ref/ Oven & Washer & Dryer. Great Airconditioning System! Besides Swimming Pool. LV MSG 632-1200 Dededo Villa Rosario Condo 3bd 2ba w/ Pool/AC/Ref/Ovn/Park For Sale LvMsg 988-3592 Dededo Fixer Upper:Home on more than 1.25 Acre Lot and can be subdivided in to 2 lots. Includes complete floor plan for a huge 5bd/3 ba.$225K Call TRINI 687-8340 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
Tamuning
Harmon
Warehouse spaces available for lease! 2,000sqf @ $1500/m, 4800sqf @$3,300/m Call DEE - 727-3777
4Bd/3ba newly renovated house in a quiet location close to the pleasure of Tumon $265K Call DEE 727-3777
UIU Building 1000sqft, very nice office. $1143 + com/month Call 637-7165 / 688-0887 /689-7700
Malojloj
Residential Sales
3br/2.5, 1746sqf living space, 1200sqm lot, built 1993. $300K. Call FRANK 864-9531
Mangilao Latte Plantation 4br. 2 ba on 1,858 sq.M Lot, fenced 3 sides, undergoing full renovation. $245K Titan Realty 479-4663, Franklin 727-2891
Agana Merizo Agana Oceanview : Spacious 3bd/2ba unit. High ceilings add to the spacious feeling! Also for rent @ $1700/mo. Land is Leasehold $189K Call LOUISA 727-8400 30 CasaGuam April 2010
PITI
Dededo
Ground floor Available! Corner of Route 16 & Harmon Loop Road! Located at the ParaOceana Business Center. Spaces available for your business today! Call DEE 727-3777
Golden Motel Tamuning :Well maintained & established motel near shopping mall & businesses, 26 rooms. Includes free simple land/improvement, equipment & generator.$1.68M Call CHRISTINA 888-8626
House is very well maintained one of a kind find! Garden boasts a variety of plants & fruit trees, ample yard space. Close to Hagatna, shopping, schools. $298K Call DOROTHY 482-3881.
Nice home that needs a little TLC. Owner financing available. Oceanview, 909sqm lot. $99,000. Call PAT - 727-4728
Nimitz Estates - large yard/ lot 4bd/2ba, good neighborhood, nice yard, asking $380K Call 637-7165/688-0887/689-7700
TUMON BEL AIR BRAND NEW TOWNHOUSE Gated, Very good location,Across driving range. 3 bed room / 2.5 bath $ 2500 CALL 898-1687 Blue Pacific Lattice. Large 3bd/2ba excellent condition, oceanview. $395K or make offer. Call 637-7165 / 688-0887 / 689-7700
Yigo Yigo House 3bd2ba Near Marine Drive For Sale Lv Msg 988-3592
Sinajana New 2br/2ba $1,300 to $1,700/month. Call 637-7165 / 688-0887 / 689-7700 Holiday Towers: Come home to a gorgeous ocean and city views from this 3 bedroom 2 bath unit. Imagine being only minutes away from shopping and dining. $ 375k. Call LOU 483-1384
Tamuning Daiichi Condo 1st Floor 3BR Fee $138,000. Call 637-7165 / 688-0887 / 689-7700 Tamuning home; great price in private location. It has everything that you need such as generator, solid wooden door, stainless steel security door, water pump & softener. $289k or $1700/m Call JAMES 482-0498 Great location 3bd/2ba. old vandalized house R2, 929sqm AS IS $297,000 or MAKE OFFER. Call 637-7165 / 688-0887 /689-7700 Daiichi Condo: Unit is in a central location and in excellent condition. The complex has just been painted and is very well maintained. $140,000. Call TONI 687-8714 Tamuning: Comfort seaside living, unwind in the serenity of your living room with a beautiful view, pool & bbq. Security to put you at ease and central to shopping and entertainment. $239K. Call DOROTHY 482-3881 First floor unit is across GPO Theaters and near Cost U Less in Tamuning.Two assigned parking. Property is fully fenced with swimming pool. Well maintained complex. Sale on AS IS BASIS. Tenant needs appointment to show. $205,000 Call 637-7165 / 688-0887 /689-7700
2 Yigo Homes: Investment Oppportunity! Two homes on one lot. Rent out both or live in one and rent the other out. $350K Call LOUISA 727-8400 Yigo Save $25,000-$50,000 Perez Acres 3/2 compare! Nice & Clean! Located minutes from AAFB. Secured entry. 2 Pools/Cabanas/BBQ/Mail Deliv./Cover Pkg & more Asking $199,000. Call Horizon Properties, Inc. 646-7616 Trophy Condo Yigo: This new condo unit is on the 1st floor w/new appliances & split a/c's in Open layout w/large bedrooms.$180K or $1,200/mo Call DANIEL 687-5115 Sagan Ipaopao: Motivated Seller! This is family freindly neighbrhood located only 15 mins from AAFB & less than 10 mins from the malls, banks, grocery stores, & restaurants.$179,500 Call AVERY 988-5263
Yona 929+/- sq.M corner lot, $5K down, owner finance, Asking $40K Let's negotiate! Titan Realty 479-4663, Franklin 727-2891 Beautiful brand new 4bed/3ba executive home, minutes away from Talofofo Golf Course. Home has custom kitchen with granite countertops, Jacuzzi Tub, enclosed garage, generator ready and much more. $651k Call VIC 483-7518
Looking to Purchase Buying in Dededo / Barrigada / Mangilao 3bd House Needed for First-Time Homebuyer Lv Msge 632-1200
Classifieds Residential Rentals
pool, security $1,500/month. Call 637-7165 / 688-0887/689-7700
Anigua
Harmon
Just newly renovated 2bd/1ba, worth a look! Close to Navy, comfort all around, close to conveniences and beaches, come relax and unwind. $1,200/month. Call DOROTHY - 482-3881
Barrigada Besta Market area, large 4BR/3.5ba on fenced half-acre asking $2,200/month. Call 637-7165 / 688-0887 / 689-7700 2 bd/1ba with yard, including water $ 750/m Sec 8 ok Call 637-7165 / 6880887 /689-7700 Large 2bd/1ba tri-plex. First floor yard including water $ 800/m Sec 8 ok Call 637-7165 / 688-0887 /689-7700
Dededo 1 Bd/ 2 Bd/ 3Bd Good location! Near school, church, market. Nice neighborhood. Furnished with refrigerator and stove. Military & Sec 8 OK. Lv Msg at 632-1200 Dededo Villa Rosario Condominium 3bd 2 Ba Good location ! Furnished Ref/ Oven & Washer & Dryer. Great Airconditioning System! Besides Swimming Pool. LV MSG 632-1200 NCS - For LEASE: 3 Bedrm. 2 bath Home w 3 carport , typhoon shutters 1/2 acre yard 10 minutes to AAFES 10 min. to NCS Titan Realty Franklin 727-2891. 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 988-3592 Dededo Home: Brand new house. Very Private with nice valley view. $1900/mo Call TRINI 687-8340 DEDEDO: 1bd/ 1ba across Circle Park, Nr Church, Schools & MallsCall/Lv Msg Ph:988-3592; Welcome Sec 8 / Military Las Palmas Ph III 3bd/2.5ba + 2 dens excellent condition, sec., pool $1,700 Call 637-7165 / 688-0887 /689-7700 Large Apartment 2bd/2ba w&d, shutters, nice, near schools sec 8 ok $800 - $830 Call 637-7165 / 688-0887 /689-7700 Villa Rosario – First Floor, Large unit 3bd/ 2ba patio leading to large yard, complete renovation like brand new, walk-in closet,
SABANA PLAZA Large 3bd/2ba Condo,2nd floor, very clean fully furnished $1,300 Call 637-7165/688-0887/689-7700
Mongmong-Toto-Maite Maite - Large 2bd/1ba very clean near Townhouse $800/m Sec 8 OK Call 637-7165 / 688-0887 /689-7700 For rent, large 1bd/ba power and water included. Sec 8 ok, military welcome. Call 477-1014 or 482- 0802
plex),mail box and pool. BASIC CABLE TV INCLUDED. $1,900/m Call 637-7165 /688-0887 /689-7700 Tumon Height Court - Very nice unit on the first floor of this well maintained condonimum complex off Ypao Road near Royal Gdn and SDA Clinic. Comes with two open assigned parking and use of pool. $1350/month Call 637-7165 / 688-0887 /689-7700
Tumon PIA Marine Condo.Next to Golf Driving Range. Security guard, pool, tennis court, Restaurant, Shop & Bar in lobby. $1,700/mo Call TRINI- 687-8340
Mangilao Villa De Oro: This 3bed/2ba comes with two parking stalls and is in good condition,just minutes away from the grocery store, schools, gas stations and much more. $1,300/m. Call KAMAKA 689-2553
Piti NIMITZ ESTATES – 3 and 4 bedroom homes. Asking $2,100/month. Call 6377165 / 688-0887 / 689-7700 2br/1ba apt. close to port, NavSta, Polaris, store, church, park, and beach! Ocean Breeze Apts $600. Call 649-8265 or 888-7447
Talofofo IPAN House for rent, 2 storey 5 bed/3bath plus family room. A/C every room, gas stove, refrigerator, h2o heater. Please call BEN / ANNE 482-6592 / 734-8272 / 472-6134
Tamuning Great Location near the Sheraton Hotel and Oka Towers. Laundry inside, Nice size kitchen with lots of cabinets. Marble in bathrooms, nice high ceilings and central a/c unit. All windows have accordion typhoon shutters, 2 car parking and security door entry. Live close to beaches and across from a new executive subdivision.$ 1700/m. Call DEANNA -688-2855 Beverly Palm, large 3bd/2.5 ba + den. You will enjoy living is this convienently located complex off Ypao Rd in Tamuning. This spacious unit also includes a separate den/family room next to master suite. Extra high ceilings in living/dining area..plus a nice upgraded kitchen. Amenities..huge balcony(length of com-
Tumon Height or Ypao Garden 2nd floor 2bd/2ba, pool newly renovated, ample parking $1,200/mo Call 637-7165 / 6880887 /689-7700
Inarajan Inarajan land for sale: 5278sqm. Beautiful Inarajan land formerly used as a tree farm. $110,000. NEGOTIABLE! Call PAT Ipan-Talofofo 727-4728 Get the last parcel available in this sub-division. It has it's own private driveway & it's location puts it out of view of regular traffic. This property is a 10 min walk to the beach.$65K Call NERI 727-3325
Piti Piti Land: This is an excellent road frontage property w/high visibility for any business, most especially w/the build-up by the military just around the corner.$500K Call NERI 727-3325
Tamuning Blue Lattice: Enjoy all the amenities this complex offers such as pool, security, mail delivery, back up power and water, to name a few. Walking distance to Beaches will have you wanting to stay on Guam longer. $1,800/m. Call DEANNA 688-2855 Tecio Condo: Enjoy a comfortable and quality condo with Ocean View in this 3 bedroom 2 bath 4th floor unit. All Ceramic Tile floors, new paint and upgraded kitchen make this place sparkle. New stacked washer/dryer, new stove, new refrigerator Full backup water and generator, security door entry, pool and more. Call for your showing appointment. $2,250/m. Call DEANNA -688-2855
Yigo Brand new 4bd/3ba units. Great neighborhood, professional lanscaped. Mins from AAFB. Several to choose from. Great family atmosphere. $2600/month. Call PAT 727-4728.
Land For Sale Barrigada BARRIGADA - 1,119 sq.M, Rt 16 pan handle Commercial Zone LOT w/ 3br.1ba. Home.$186,000.Titan Realty, 479-4663 Franklin C) 727-2891
Chalan Pago Chalan Pago Land: Investor/Developer special. Centrally located fronting Rt4 1.75+ acres commerical land. Rental income $3,000/mo. Motivated seller.$1.1M Call CHRISTINA 888-8626
Over an acre of M1 zoned land in a secluded & safe spot within Harmon Industrial Park. At about 50 cents per square meter, it won't last very long.$3K Call DANIEL 687-5115 Build your dream home on this one of kind subdivision, with many amenities including a park, swimming pool, tennis court, secured entry and much more. $500k. Call ROWENA - 777-4317
Yigo Development property. Developer alert. Perfect for subdivision. Panoramic views. Rt 15 frontage 1 mile south of AAFB back gate. 53,830sqm. $35/sqm Call PAT 727-4728
Yona Over 4 acres of argricultural secluded property in Yona with private access. Priced to sell TODAY at $19.83/sq.m. Hurry, property is moving fast and furious!$325K Call AVERY 988-5263 Most AFFORDABLE & UNIQUE You'll will enjoy a panoramic view of 2 golf courses (CCP & Onward Talofofo Golf Course) & the beatiful Pacific Ocean.$150K Call AVERY 988-5263 Land for sale: 104,688sqm. Slight sloping terrain. View of Mangilao & Pago Bay. Water and power within the vicinity. $14.33/sqm Call FRANK 864-9531 CasaGuam.com 31
Closing
Message from the Executive Officer By Peggy Araullo Llagas
Standards of Conduct for REALTOR® Associations 1. Maintain the highest standards of personal conduct. 2. Actively promote and encourage the highest degree of ethics at all levels within the real estate industry. 3. Maintain loyalty to the REALTOR® association, and pursue its objectives in ways that are consistent with member and public interest. 4. Abide by association policies, procedures, and laws impacting REALTOR® associations. 5. Strive for excellence in all aspects of leading and managing the association. 6. Serve all association members fairly and impartially. 7. Refuse to engage in a decision-making capacity or to accept personal benefit from business-related activities, which might create a conflict of interest, without full disclosure and knowledge of the association’s governing board. 8. Maintain confidentiality of privileged information entrusted or known by virtue of an office or position, unless disclosure is necessary to protect the interests of the association. 9. Refuse to engage in, or countenance, activities for personal gain at the expense of the association or the real estate industry. 10. Refuse to engage in, or countenance, unlawful discrimination. 11. Ensure that communicated data and information is accurate and truthful. 12. Cooperate in every reasonable and appropriate way with other association executives and officers, and work with them in the advancement of the association and the real estate industry. 13. Create and promote a positive public image and role for the REALTOR® association and the real estate industry. 14. Ensure that the objective of all association actions and pursuits is to provide the best possible services for the REALTOR® member.
Unacceptable Business Practices 1. Knowing or reckless false or misleading representations about other REALTOR® associations or the association’s programs, products, or services 2. False, deceptive, or misleading advertising or marketing practices 3. Illegal business practices 4. Knowing violation of state or national policies or mandated local policies 5. Undisclosed conflict of interest –National Association of REALORS®
Ask if your agent is a REALTOR®, member of the Guam Association of REALTORS®. REALTORS® are professionals who have comprehensive awareness of the Unacceptable Business Practices and thoroughly adheres to the Standard of Conduct of the REALTOR® Association. 32 CasaGuam April 2010