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CONTENTS
Message From GAR
Departments 4
8
10
Market Report Median House Price Soars to New High Feature Real Estate Boom is Still Expected
August 2011 • Vol. 4 • No. 8 What the experts say
12
18
Our Environment A Brighter Solution Profile Elmore Cotton Owner, Principal Broker Century 21, Commonwealth Realty
P.O. Box 24881 Barrigada, GU 96921 Tel: (671) 472-3495 | Fax: (671) 472-3498 email: office@yellowpagesink.com
|Publisher| |Business Sales Manager| Jay-R S. Dominguez
|Display Advertising| Darrell T. Pereda John Mendiola Vince Cruz Doris Pangelinan Emily Untalan
|Traffic/Circulation Manager| 22
How to D.I.Y Applying Elastomeric Roof Coating
Josie Redmond
|Production Manager| Mark S. Burke
|Graphics & Layout| 24
Contractor’s Corner Highlight on: dck pacific guam, LLC
29
Who Ya Gonna Call?
30
Classifieds
32
Closing Guam Association of Realtors® “Why Own?”
Mark S. Burke Jon Barnhart Edwin Valencia
|Editorial Contributors| Faye Varias Creative Services Anthony Godwin W. Nicholas Captain Peggy Araullo Llagas Shaina Santos Mark S. Burke Angela Rosario Cover Photo: Mark S. Burke CasaGuam is Published by:
Message from the President By Anthony R. Godwin e-pro®, CRS®, ABR®, ASP®, AHWD®, REALTOR®
M
y tiles are crooked! Many have hired a contractor to do a repair or renovation job. Then when the job is complete things just don’t seem right. You ask the contractor about those crooked tiles and the contractor gives you some lame explanation like “that’s how it’s supposed to be”. You call a friend to come take a look and your friend has the same impression as you. Something really is not right. You have a few choices at this point, a) demand the faulty work be done over again b) forget it and chock it up to bad contractor selection. c) if the contractor refuses to fix the work contact the contractors licensingboard, mediate or hire a lawyer. Having experienced this a few times myself, I’ve taken all of these routes. With these experiences I’ve discovered there are contractors that like to be the “jack of all trades”. Unfortunately, I’ve never met one contractor that really was. The contractor might be really good at one discipline, such as painting, but might be awful at tiling. I believe the best contractors will engage other professionals to do the best job. When bidding out a job ask the contractor that is providing you with a quote who will actually be doing the work. Check references… contractor and all sub contractors. Make sure you specify materials and finishes. Get samples. For larger jobs hire someone with experience inspecting the work of a contractor. You will usually be charged a fee for this… somewhere around 10% of the contract cost. It’s worth it. When the job is done, conduct a preliminary inspection yourself. Mark any items that that have issues with blue painters tape so you wont’ forget them. Put together a written punch list of things that need to be attended to. Then conduct a second inspection with the inspector you hired. Update your punch list with your inspector. Then finally, meet with your contractor and go through each punch list item. Don’t rush through these inspections and punch list checks. This is your hard earned money you are spending here. Finally, schedule your payments to your contractor based on completion of the various tasks. Structure your agreement to hold about 25% of the project until AFTER the punch list items are fixed. Don’t forget to inspect again when all the punch list items have been completed. Happy hunting.
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.
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Christina’s Deals of the Month! TAMUNING - $1.6M Golden Motel 26 Rooms, Fee simple land improvements, equipment and generator.
TAMUNING - $9,000/mo 2 Storey Comm. Bldg.
YIGO - $360K
Over 30,000 sq ft, fee simple, negotiable Motivated seller.
BRAND NEW 3br/2.5ba fully fenced and gated, double garage, laundry room, custom made kitchen cabinet and corian counter top. Master bath has jacuzzi tub and standing shower. Close to AAFB, 1071 sq M.
Call Christina!
MLS#10-4002
CHALAN PAGO - $235K or Rent $1,300/mo Central location. Cozy 3 bedroom, 2bath home.
888-8626
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FRee oF ChaRge
637-7165/688-0887/689-7900
to those looking for properties
W. Yamamoto R ealtY
List with me…I’ll Get you SOLD! W. Yam amoto - P RINCIPAL B ROKER HOUSE / CONDO/ LAND $265K
$160K
MLS 11-2807 Las Palmas III- 3Br/2.5Ba Upgraded New Marble Ctr 1850 SQft
$199K / Rent 1,900/mo
MLS 11-2116 Sabana Plaza - Lge 3Br/2Ba 1,550 sq/ft Exlnt Cond. Only $160K
$ 1,700/mo
Las Palmas Phase II 3Br/2.5Ba Townhouse. Exlnt. Cond.
MLS 11-527
MLS 11-326
Dededo Pacific Gardens Condo 1Br/1Ba
Tam Beverly Palms - 3Br/2Ba + Den $234K or 2Br/1.5Ba $174K
$2,800/mo
$3,000/mo
MLS 11-2838 Blue Pacific Lattice - Tumon 1Br Exlnt. Cond. Ocean View FF
$234K or $174K
$52,500
$2,500/mo
MLS 11-2415 Dededo, Off Rt. 16 - 5Br/3Ba Exlnt Custom House 3700 Sqft
$ 1,650/mo
$ 1,650/mo
MLS 10-4014
MLS 11-2824
Tumon Heights - 3Br / 2Ba Pool Exlnt. Cond.
Villa Rosario Condo 3Br/2Ba Must See! Upgraded 1321 Sqft
MLS 11-2978 Summer Palace - Lge 3Br/2.5Ba + Den Pool/Sec./Tennis $2,500/mo
$ 1,900/mo
MLS 11-2475
MLS 11-471
Paradise Estates - Lge 3Br/2Ba Exlnt. Cond.
Alupang Cove Condo - Renovated 1Br / 1Ba Exlnt. Cond. w/ view
10-3946 Tam Office Spaces - Well Maint. Across Airport Road 2,400 sq/ft $2800/mo
$2,500/mo
$ 1,250/mo
MLS 11-2249 Tam 2Br/2Ba 1,300 sq/ft Exlnt. Condition
$ 1,350/mo
MLS 11-1917 Tam Ypao Gardens 2Br/2Ba FF, Exlnt. Cond. $1,350/mo
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Market Repor t
By Nick Captain
median house Price Soars to New high Increasingly Strict lending guidelines Contribute to Decline in house Sales
A
ctivity Update –
Mixed signals dominate the housing sector as the median price of a Guam single family home soared 18 percent from a year earlier to $260,000, pushing the affordability index into increasingly unaffordable levels. The Guam median home price is now 53 percent higher than the national average of $170,000. The median price has doubled during the past decade, “…partially due to market recovery and partially due to a change in product mix”, according to Captain Real Estate Group President Nick Captain. The median price increase occurred as transaction activity has slowed significantly with only 118 units closing during the first quarter of 2011, reflecting the slowest pace in 8 years (except for 113 units sold during peak of financial crisis in Q1 2009). Stricter lending guidelines are one factor contributing to what could be Guam’s first major housing crisis in 20 years as federal regulators have
4 CasaGuam August 2011
proposed rules that will likely boost interest rates and fees on many low-down payment loans. Families looking to enter Guam’s homeownership market have also been recently hit by massive utility connection fees and increasing utility costs, further eroding the ability to pay mortgage costs. As housing costs soar, the inventory of vacant housing becomes an increasingly critical component of projecting future demand. However, while GHURA’s recently completed $350,000 Comprehensive Housing Study estimates vacant housing units at 9,125 (2009), the federal government’s recent free estimate reflects 2,800 units, a difference of over 300 percent. As the number of housing units sold declines, the inventory of unsold units is increasing to unhealthy levels. Based on Q1 2011 sales volume and a Multiple Listing Service capture rate of approximately 40 percent, the inventory of unsold homes on Guam reflects nearly 15 months, compared to just 6 months on Oahu.
Condominium sales volume during the first quarter of 2011 surged to nearly $13 million. This past quarter included 9 units sold at prices above $500,000, as the high-end market continues its recovery from the recent lows in 2009. The condominium sector has been reflecting less volatility due to increasing investor confidence in Guam’s economic future. During the first quarter of 2011, overall quarterly real estate sales volume on Guam exceeded $100 million for only the second time since mid 2008, and quarterly islandwide sales volume reflected 60 percent growth from a year earlier. The sales volume was boosted by the closing of the former Hotel Okura property in Tumon, which sold at a price over $20 million. Future aggregate sales volume figures are likely to be impacted by foreign investment trends, which have been rebounding primarily due to progress on the military build-up. However, the impact of the triple disasters in Japan on Guam’s real estate market remain unclear.
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Feature
The military buildup helped drag Guam's real estate market out of a decade-long slump and start a long-term growth trend, although the size, shape and speed of the growth are as hard to predict as the form of the buildup itself, according to Nicholas Captain, president of Captain, Hutapea & Associates real estate brokerage.
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Guam Real Estate Market Readies For ‘Virtually Guaranteed’ Growth Spurred By Military Buildup, Experts Say By Frank Whitman "The Guam real estate market is on a long-term growth trend because of the significant economic and population growth that we'll experience as a result of this buildup," Captain said in an interview with GuamBuildupNews.com. "How big? How much? How far? How fast? Nobody knows. But when you're looking at virtually guaranteed significant population and economic growth, that's going to put your real estate on a long-term growth trend." The planned transfer of at least 8,600 U.S. Marines and their support staff and families, along with investments to boost Air Force, Navy and National Guard facilities on the island over the next decade or so, promise to boost the island's military population to 39,000 from 15,000, increasing real estate demand, according to government estimates. The federal wages and living bonuses would further help drive the boom on the island of 180,000, according to real estate experts. "The commercial sector has remained characterized by a significant amount of vacant space" leftover from a slump prior to the announcement of the buildup in 2006, Mr. Captain said. "But we have seen positive growth over the past three or four years." Early excitement about the buildup caused an overnight rush in the real estate market beginning in 2006. But the hype outran the slower, more methodical arc of military planning, Federal Government budgeting, Tokyo-Okinawa relations and local infrastructure upgrades. "The period 2006 to 2008 saw an initial spike in the commercial market caused by the initial discussions and expectations focused on the proposed military buildup on Guam," said Christopher S. Murphy, owner and principal broker of The Real Estate Professionals LLC. Then the 2008 global economic meltdown hit the market and "as the initial plans became increasingly prolonged, the market cooled off considerably during the 2008 to 2010 period," Mr. Murphy said. The growth has been cyclic "but starting in the second half of 2010, we started seeing market conditions rebound," Mr. Captain said. "For the first quarter of 2011 we started seeing some real positive numbers and activity. In early 2011 some of our markets were actually starting to tighten up. ... There was a lot less empty commercial space in the office and industrial markets in early 2011." A number of properties were sold or leased to military contractors. "DZSP 21, Parsons, PB Americas, all these companies that you read about that have been doing consulting and so forth have been leasing office space," Mr. Captain said. In the second quarter of 2011, activity in the commercial and industrial sectors of the real estate market slowed due to the earthquakes and tsunami in Japan and speculation about the pace and scope of the military buildup, he said. "The whole economy's been through a bit of an upheaval since the
March 11 Japan disasters," Mr. Captain said. "And of course the roller coaster news on the military buildup has added to a heightened sense of caution ... on the part of the vast majority of business owners that are looking at making decisions on commercial real estate." As businesses have had time to assess the impact of the factors, "things are thawing out a bit and we're starting to see some upticks in activity," Mr. Captain said. "The quality properties have increased in rental rates," said Siska Hutapea, vice president of Captain, Hutapea & Associates. "New concrete warehouses with good design could get higher rates than a mom-and-pop industrial building would get. The metal industrial buildings in Tamuning Industrial Park are in a good location so they have experienced increased rent in the past five years or so and strong occupancy always." Most military-related real estate activity in the commercial and industrial sectors has been in rentals and leasing as opposed to sales, she added. Local companies are showing confidence in the buildup's impact on the economy over the long-term, said Mr. Murphy. "I see more local people buying," Mr. Murphy said. "In some sense that's a vote of confidence even though times are tough. Locals have a confidence in the buildup over a seven- to 10-year stretch for the island. People are trying to position themselves to take advantage of what comes our way in seven to 10 years." Mr. Murphy cited his own company as one that relocated earlier this year after purchasing the old Government of Guam Employees Federal Credit Union building in Maite. "Other realtors are looking, too," Mr. Murphy said. "Local businesses feel this is a good opportunity to buy their own property." Locally owned commercial buildings are also being built. "We haven't seen new office buildings for decades," Hutapea said. Just during the past three years, several locally owned commercial buildings have gotten underway, she noted, including one owned by Coast 36o Federal Credit Union. The space The Real Estate Professionals had been occupying in the Orleans Pacific Plaza in Tamuning was rented to Mortenson Construction which is, with joint venture partner Kiewit, a participant in the Navy's $4 billion Design-Build multiple award construction contract. "Mortenson's head office had specific requirements," Mr. Murphy said. "They wanted prime space, good access, good parking, a backup generator and Marine Corps Drive frontage." This article is sourced from Guam Buildup News. CasaGuam.com 9
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Our Environment
A Brighter Solution By Angela Rosario
As scientists continually strive for technology that allows us to simplify and maximize our existence, families are tasked with the burden of finding alternatives to living an effective and efficient life without bursting their budgets. Food, clothing, shelter, and energy are all necessities in the art of survival, but only the latter is ever evolving. From incandescent lighting to compact fluorescents, companies have been searching for more energy efficient and environmentally-friendly lighting substitutes for their homes and businesses. Attempts have been made, but rarely achieved in respects to truly energy efficient products, until now. After years of perfecting the science, it had been discovered that light emitting diodes (LED), which were commonly used in remote controls and computers, were able to produce an equivalent luminosity, if not exceed, of that of its predecessors. Unlike compact fluorescent light bulbs and incandescent lighting, LED lights solely employ the movements of electrons in order to produce its brightness, thus eliminating the need for a filament and harmful mercury contents. Because of this, LED lights not only use less energy, but emit less heat than that of regular light bulbs and spring lamps. Less energy used means more money in your pockets. 12 CasaGuam August 2011
LED lights not only use less energy, but emit less heat... Less energy used means more money in your pockets.
GRESCO, a locally owned company, has geared all its efforts into reducing the island of Guam, and the greater region of the Marianas' and Micronesia's carbon footprint though providing and producing environmentally conscious products and services including used oil recycling, wastewater, LPG, and lighting . Through their determined efforts to work with companies regionally and throughout the world, GRESCO is able to provide their customers with the best and highest quality products possible in manufacturing their products. Through distributing and supplying LED lights to our local homes and businesses, GRESCO continues to educate our community on the importance of working together to achieve a greener Guam.
Bulb Type
Bulb Life
Cost/Bulb
Cost of Bulbs over 30,000 Hours
Incadescent
2,500 hours
$4.90
$58.80
LED
30,000 hours
$28.35
$28.35
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Asan $325K
Lots for Sale MLS# 11-2803
Yona 65K
Jackie Perez
777-4289 REALTOR®
jperez@remaxguam.com
Santa Rita SRd for lease $2,200
Pulantat 2526sm, ready to build, nice family area, pwr/wtr nrby
Lovely 3 bed 3 bath open floor plan, pitched roof, central a/c, ceramic tiles, HUGE jacuzzi in master bath, double paned windows, large back porch, accordion shutters, carport, quiet neighborhood, close to Big Navy.
Santa Rita 70K 1200+/-sm, Slope w/Oceanview great for split level paradise home, pwr, wtr, sewer acces
Tamuning $1,600/mo Enjoy living is this centrally located first floor renovated unit in Tamuning. This spacious unit includes a separate den/family room next to master suite. Extra high ceilings in living/dining area.. Great amenities,huge balcony ,mail box and pool. BASIC CABLE TV INCLUDED.
MLS# 11-2570
Tumon $2,450/mo 3 bd/2bath upgraded Unit is in pristine condition. Amenities include secured entry, postal boxes, stainless steel appliances, stacked washer/dryer, elevator, partial backup generator, 2 assigned parking slots, ground maintenance & partial ocean view!
Yogita “Payal” Hemlani 482-5263 REALTOR®
phemlani@remaxguam.com
MLS# 11-2725
Tamuning $600/mo
Yigo $428K Mature trees surrounding this brand new 4bd/3ba home give it the feeling of a more established neighborhood! Master bedroom opens to spacious back patio. More executive type homes in the area. Close to AAFB. Move in to this up and coming neighborhood today!
Enjoy the comfort of living in ASAN with this two storey house with wonderful outdoor living areas surrounded by tons of beautiful plants which are there to stay. The house has potential for separate family quarters for older child or mother-in-law.
MLS# 11-584
MongMongToto-Maite $30K Looking for a centrally located lot? You found it! Subject Property is a Flag lot behind the vacant house.
Evelyn San Gil Burke 488-2703 REALTOR
®
Irene Cruz
797-2109 REALTOR
®
icruz@remaxguam.com
Faye's Apts, affordable 2bd, 1 bath apt in the heart of Tamuning located in the vicinity behind Cost U Less. Owner to provide brand new Refrigerator and Stove. Please submit application to lease, must have good rental history. References required. Year of bldg and living area sq ft is approximate.
Dededo $1,900/mo MLS# 11-2702
Santa Rita $1,300/mo A comfortable 3bd, 1 bath home in Santa Rita. Quiet neighborhood. Section 8 welcome.
Spacious 3 bd, 2 bath home on large lot out in the country! Extra clean and shows very well! Quiet neighborhood and just minutes away from Anderson AF Base. Trash and yard maintenance included.
eburke@remaxguam.com
MLS# 11-1988
MLS# 11-2493
MLS# 11-2689
Perez Acres $239K MLS# 11-2447
Patricia Feore 688-6989 REALTOR®
pfeore@remaxguam.com
Barrigada Heights $2,600/mo Fully fenced 4-bedroom executive house. Tastefully designed with contemporary fittings and appliances. Spacious rooms throughout!
Yigo $68K More than half acre in Guam’s fastest growing village. Located on a quiet and neighborly street. Perfect for that family compound.
MLS# 11-1590
Hagatna $2,787/mo A Guam landmark is looking for you as the tenant. On Rt. 4, next to MacDonald’s and across Agana Shopping Center. Get maximum exposure!
MLS# 11-2577
Space and lots of it!! ConveMLS# 11-2738 niently located unit with park and swimming pool right Yona next door! Unique floor plan $2,600/mo that can be used as a five bedroom. Designed for fami- 3bd/2bath home tucked away in a fantastic location! Enjoy lies, with extra storage spaces, inside laundry and the scenery of the Windward Hills Golf Course! separate family room.
Dededo $900/mo Great commercial space with 700sft. In a prime location.
Gina Campos 687-8885 Assoicate Broker
gcampos@remaxguam.com
MLS# 11-2571
MLS# 11-2009
Talofofo $205K Own this country cottage with a partial ocean view on a near half acre in God's country. Hardwood floors and interior walls add to it's charm.
MLS# 11-2762
MLS# 11-2466
Libby Pier
686-2627 REALTOR®
Piti $1,600/mo
lpier@remaxguam.com
MLS# 11-2188
Exquisite sunset views overlooking Apra Harbor. This spacious studio is close to Big Navy and Naval Hospital and includes utilities.
Ron Pangilinan
687-8871 REALTOR®
rpangilinan@remaxguam.com
Tumon $270K Guam's Own Wakiki Beach. This Fabulous Corner Unit in San Vitores Terrace Could Be Yours.Has Been Upgraded to be one of the best units in the Complex. A Must See!! Enjoy the OceanView just outside your living room and walk the short distance To Many Restaraunts and shopping stores. You can also stay at the complex and take a dive in the pool.
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Sinajana $1,700/mo
”
Yona $900/mo
Spacious 2BR home centrally located in Sinajana, conveniently minutes to Hagatna and Naval Hospital. Call your REALTOR® and schedule an appt to see this house.
2 bedroom / 1 bath home in Yona ready for you to move right in.
MLS# 11-1371
Barrigada $299,790
MLS# 11-462
Price reduced to $299,790.00 for this brand new hse, 3bd/2ba 1,757sf living on flag lot Barrigada Village, master walk-in-closet, high pitched roof, foyer entry, solid wood kitchen cabinets, granite counter tops, inside laundry room, porcelain floor tiles, 2 car carport, lots of storage space. Price includes 4 split a/c units & accordion typhoon shutters.
MLS# 11-2405
Vanessa Cabe 688-1210 REALTOR®
vcabe@remaxguam.com
Shawn Blas
888-3221 REALTOR®
Talofofo $1,900/mo
sblas@remaxguam.com
MLS# 11-2250
Barrigada $1,255/mo
MLS# 11-2811
Agat $258K Brand New house in Agat 3bedroom and 2bathroom. House will be complete on August 9, 2011.
MLS# 11-2328
Yigo $425K
Tamuning 170K
Brand New 4bedroom & 4Bathroom house in Yigo. 10mins drive to AAFB and 10mins drive to the Mall.
Well maintained unit. 3br 2ba close to shopping &school. Price is negotiable
Ki Myong Song 929-5398 REALTOR®
Commercial space on 2nd floor fronting route 8 Barrigada great exposure. 2nd unit towards right side of building and comes with its own bathroom. Building also for sale MLS #11-1653. Call for more details.
ksong@remaxguam.com
Barrigada $570K MLS# 11-1411
Tamuning $1,900/mo Centrally located in Tamuning behind Airport Hotel comes with yard service, outdoor covered lanai, outdoor half bath on end of street for privacy. Home shows very well call REALTOR@ for showing.
Barrigada 339K Consider taking a look at this great 4 bedroom 2 bath Barrigada Heights home, conveniently with 2 accesses. Home sits in a cul-de-sac with great neighbors. A must see, call your favorite REALTOR® for a showing.
jeans@remaxguam.com
MLS#11-2893
Tumon $2,500/mo
MLS# 11-1333
Yona $80K Large arcel of land available for farming, or development. Owners are motivated to sell, call for details!
Jodee Duenas 727-5633 REALTOR®
MLS# 11-2573
BLUE PACIFIC LATTICE 3 bd 2 ba with Panoramic Ocean Views. Excellent Condition, New Kitchen, Just what you want! Security, Pool, and back up generator.
jodeeduenas@remaxguam.com
Ipan Talofofo $2,450/mo This 4 bd 2.5 bath home is perfect for your family. Large Open Kitchen, Cathedral Ceiling in living room Lots of storage and in great shape.
$325,000 For Rent: MLS#11-2889
$2200/mo For Rent: MLS#11-2891
$800/mo
688-2855
dpalmer@remaxguam.com
For more information and pictures go to www.showmeguam.com
MLS# 11-2746
Coleen Blas
Spacious 4 bedroom, 3 bathroom in Paradise Estates. Enjoy the conveniences of a 2 car garage, indoor laundry, full appliances, and typhoon shutters.
www:DeannaPalmer.com MLS# 11-2700
Agat $485K
MLS# 11-2869
Yigo $2,200/mo Come see this fully fenced 3 bedroom, 2 bathroom home in great condition. Spacious floor plan with split a/c's, ceiling fans, and typhoon shutters.
MLS# 11-2744
Beautiful 4BR/2.5BA home located right across from the beach area...Wonderful floor layout with lots of balcony space...Won’t last long!
Liz Duenas
687-0911
REALTOR®
www.coleenblas.com
Deanna Palmer REALTOR®
Dededo $2,250/mo
cblas@remaxguam.com
898-2112 REALTOR®
Asan For sale:
Absolutely charming country side home in Dededo for sale. Very peaceful and private 3 BR 2BA on over an acre property, fenced, gated and secure. In addition, this home has been upgraded and set up to be very energy efficient.
MLS# 11-2380
727-6902
Jean Sablan
MLS# 11-569
Dededo 249K
MLS# 10-4275
Executive home with great return. Fully fenced and gated on 1,340sm log. 4bd/4.5ba. 3,000sf with all top quality finishes. Call to see this home now - a must see!
MLS# 11-1664
MLS# 11-2785
Renovated 3 bed/2bath house inTalofofo. This home is 'PERFECT' for you. Call to turn this house into your HOME!!
Assoicate Broker
Tamuning $670K
lduenas@remaxguam.com
Executive 3BR/3BA home you have been looking for, with all the right touches, perfect location.
MLS# 11-1016
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Profile
By Shaina Santos
Business Veteran
Elmore “Moe” Cotton had his mind on real estate from the moment he arrived in Guam.
e
“
Elmore Cotton Owner, Principal Broker; Century 21 Commonwealth Realty
Family:
Wife: Haruko Daughters: June Aiko, Patricia Mae, and Akemi Jean
Hobbies:
Art, especially paintings, which he displays in his office Sports, especially Tennis
I think Casa Guam Magazine is very good, very professional.
18 CasaGuam August 2011
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Elmore Cotton is the Principal Broker and Owner of Century 21 Commonwealth Realty. A college graduate from Wooster in Ohio, Cotton also served as a Captain in the Marine Corps. Currently, he serves as the Director of the Guam Association of Realtors, which he has been a part of for 30 years. Cotton, who was a salesman for 20 years before he moved to Guam in 1977, said he already knew what he wanted to do upon his arrival on the island. “When I came to Guam I came to be in real estate and took the broker's exam right away. I think it's the best sales job there is on Guam,” he said. “When I bought my first apartment house, I turned it into a condo. That was one of my early success stories, and since then, I've done four or five of them.” Eight years after he joined the real estate game, he went back to California and negotiated to buy the Century 21 franchise. “When you buy a franchise,” Cotton explained, “one of the reasons you buy it is because people feel comfortable dealing with you because they feel like they already know you.” He briefly described the nature of working with buyers and sellers. “You have to make them like you and want to do business with you or they're not going to do business with you, very quickly, and you do that by showing your professionalism.” But it's not all about business. Cotton said he has a lot of job satisfaction. His favorite thing about real estate is his ability to help people, whether it be helping sellers sell a home or buyers buy a home. “I'm 75, so I'm thinking it would be nice to retire, although I enjoy it. I wouldn't be in it if I didn't enjoy it.” His desire to help, however, doesn't hurt as he describes his business motto as, “Helping people. By helping people you get a reputation and it's easier to do business because people know you.” He has had his share of setbacks, however. Cotton describes much of his challenges relating to purchasing too much real estate, especially during certain markets. “When the market is slow, it's more difficult because buyers procrastinate. Because they say to themselves, ‘Why should I buy today when I can buy tomorrow cheaper?’” Cotton uses his determination to see himself through by working even harder and seeing more people. Cotton says, “The key to the business is prospecting.” Cotton advises customers to buy when the market is slow, as it is currently. “That's when you get the best prices. If you wait till the market gets hot, then the prices go way up.” He describes many customers problems as buying something they can't afford. “They fall in love with a piece of real estate even though they can't afford it and they have trouble making payments. It's our job to make sure that we sell something that they can afford.”
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Curb Appeal
The Ultimate Selling Buzz Word: Curb Appeal
By Joe Lane
C
hances are, in the mind of a potential buyer, your home is not the unique gem that you might think see it as. It can be hard to understand that, but most homes have a pretty basic structure that might change from home to home but does not vary greatly overall. If you are aiming at creating that elusive buzz word, curb appeal, understanding that and playing up the strengths you do have can help you tremendously. Curb appeal can help you cut through a lot of the hassle of selling your home buy motivating buyers to want your property before even setting foot inside the real estate. With a surplus of interested buyers, you can skip the process of even hiring a real estate agent and simply sell it to one of the interested parties that has demonstrated interest in your property. So while curb appeal is an ever-changing characteristic, there are some basic things you can do to help your home show better and look better to everyone that drives by. These can be simple things like adding shutters around windows that might look out on to your porch and can be as complex as adding new products to the front of the home like a refurbished garage door or better looking porch railing.
can guarantee that a buyer will have a slightly negative feeling about your home before ever setting foot in your real estate. You can combine the landscaping and window aspects of your home by making sure that your bushes and other items are trimmed away from window beds. These may look like they were planted with good intentions when your home was built a few decades ago, but letting light into your property and showing off the amount of windows will ultimately do more to increase your curb appeal.
Walkways Your driveway and other walkways that lead to your home serve as a visual line that grabs the buyer's eye and directs it toward your home. If a walkway or garage is full of holds and has not been cared for, this travel of the eye will only hurt the curb appeal of your property. Take advantage of the way a buyer will look at
your home and pay extra attention to the walkways and driveway. If you have some nice landscaping elements around a path to your home that might wind its way to your front door, you will have almost instant curb appeal and will set your home apart from the other 50 properties a buyer might be shown that day. Common sense is the biggest asset when it comes to developing curb appeal. If something on the exterior of your home is broken or dirty, fix or clean it. If you drive by and wince at a particular eye sore in the front yard, remove it. Put yourself in a buyer's shoes and ask yourself what you would want to see when you drive up to your new home and what you wouldn't. Change accordingly and you will help yourself develop some elusive curb appeal. This is another original article by Joe Lane, co-owner of The Lane Real Estate Team at http://www.joelane.com/. (Source: Http://www.freerealestatearticle.com/)
Windows Windows make up a lot of the expense of a home, but are sometimes neglected when it comes to dressing up your property for potential sale. Adding things like shutters to the exterior of your property or repainting trim on each window can make your home look words different. Paint especially is an inexpensive input for your property, so putting in a little manual labor can make a big difference in your curb appeal.
Landscaping Landscaping is perhaps the aspect of a home that most people think of when they hear the term curb appeal. If your front lawn has gone with mowing and is chock full of weeds, you CasaGuam.com 21
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H o w To D . I . Y.
How to Apply Elastomeric Cool Roof Coatings in 3 Easy Steps
O
kay, admit it. When it comes to our roofs, most of us think we need to call in an expert! I used to hear the words elastomeric coating and suddenly have visions of people in hazmat suits with special applicators and EPA Licenses! Well take heart Do It Yourselfers! It ain’t that big a deal! Any Do It Yourselfer willing to spend a little time in the sun, (and that’s good for you, right? Think of all that vitamin “D” you’ll be getting up there!), and put forth a little dedicated effort can apply their own roof coating. We’ve all heard how great this stuff is, it cuts your energy costs and helps your air conditioning work more efficiently...Well, for once it’s true! By applying an elastomeric coating to your roof you can actually reduce your energy costs by as much as 30 percent! Of course, this is a bit bigger job than most simple home repairs, but don’t let it intimidate you; “How do you eat an elephant? Cut it into bite sized pieces!” Applying elastomeric coating to your roof can be cut into three bite sized pieces: • Clean the Surface • Repair and Reinforce • Apply the Roof Coating Let’s take them one at a time.
By Mark S. Burke STEP 2: REPAIR & REINFORCE Patch and repair cracks, blisters and other problem areas using an acrylic roof sealer, following label directions. Reinforce with a universal patching fabric for the bigger cracks and holes
You can apply elastomeric Coatings to: • • • •
Metal Urethane/polystyrene foam Concrete roofs Aged roll roofing, existing aluminum & white coatings • Flat and barrel cement tile Here are some recommended Applicators: Patching material: brush or trowel as indicated on container instructions. elastomeric coating: Roof brush, ¾”nap roller, or airless spray in 10”- 12”pattern, 2000 psi, .021 to .025 spray tip Coverage: How much do I use?
STEP 3: APPLY COOL ROOF COATING On a clear, warm, sunny day (we have plenty of those on Guam, right?), apply your Elastomeric Roof Coating to a dry roof surface. Cut in along edges, then move from one end of the roof to the other keeping a continuous wet edge. Follow all the label directions.
Two coats are recommeded to ensure complete coverage For metal surfaces: 80-100 Sqft. per gallon For Porous surfaces: including foam, concrete, tile, roll roofing, and previously coated surfaces use 50-75 Sqft per gallon If you need additional help or have questions you can always visit Guam Home Center and get everything you need there, from good advice, to tools and materials. Have fun and save money, what more could you ask for? Good luck!
STEP 1: CLEAN THE SURFACE Clear roof surface of loose debris including dirt, gravel, sticks, etc. using a push broom or blower. Wash away surface dirt with a pressure washer.
How-to content provided by: Project How-To’s™ @ www.gardner-gibson.com copyright © 2008, 2009, 2010 Gardner-Gibson, Inc.
Sure, it’s a bit of a challenge, but it’s no harder than painting a wall, and just think how proud you’ll be when your power bills go down and you can tell your neighbors “I did it myself and saved money there too!” It’s always fun to stretch and challenge your DIY skills!
22 CasaGuam August 2011
Here is some additional information to help with your project:
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CONTRACTOR’S CORNER
Highlight on: dck pacific guam, LLC
d
dck pacific guam, LLC, a dck worldwide company, is a diversified group of professionals with experience in new and renovated institutional, retail, hotel, recreational, offices, and industrial facilities. Since 1985, the company’s employees have been recognized leaders in the industry in the Micronesia area, a dynamic, exciting, and culturally diverse region. It has steadily expanded to meet the growing construction needs of military and private clients. An integral part of this dck team includes Bishman Continental Services (BCS), whose services include electrical, plumbing, air conditioning, fire protection, and pipe fitting for both commercial and industrial projects. With its Fena Water Treatment Plant Upgrade project, the Guam office was recently awarded the honor of Contractor of the Year from the Guam Contractors Association. Other recent projects on Guam include the Guam High School and McCool Elementary/Middle School for the U.S. Department of Defense. About dck worldwide dck worldwide is a global construction company that develops, manages, and builds highly complex projects. It has created a company with a wide range of capabilities and experience by acquiring all of the assets and resources of Dick Construction Company and its affiliates—construction leaders for 85 years—and by attracting top industry talent. Its people's history of quality workmanship and construction expertise will continue to be one of its strongest cornerstones. dck is
dck pacific guam, LLC
prepared to meet the challenges of its clients and deliver exceptional projects. The company offers one of the best building solutions while providing high quality performance with a broad geographical reach and a strong commitment to safety. The company’s primary strengths include the ability to manage the entire construction process for its clients—from conception, financing, planning, and pre-construction, to estimating and scheduling, through construction, and ultimately project closeout. Over the course of the project, the company quickly responds to challenges, work to develop lasting relationships, and maximize quality and efficiency to instill in its clients the utmost level of trust. For dck worldwide, this commitment and the ability to build trust are at the heart of its corporate values, guiding its unwavering mission to be the best in a challenging industry. dck worldwide’s capabilities extend well beyond the nation’s borders. The reputation of its people is known across the country and around the world. Experience, superior management skills, and its commitment to advanced forms of technology allow the company to extend its full-service capabilities into geographic territories everywhere. The company prides itself on its ability to integrate with diverse cultures, always working safely and efficiently with local labor and management. dck worldwide provides program management, construction management, design-build, general construction, and global project development services to corporations, developers, and government entities.
Guam High School
Coast 360 Credit Union
FENA Water Treatment Plant Upgrade
Duty Free Shops Galleria Renovation
24 CasaGuam August 2011
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Our Community
Lending a Helping Hand e guam association of RealtoRS® is proud to have the habitat for humanity of guam as beneficiary of a $10,000 donation in part from the Ira gribin grant that the association received from the National association of RealtoRS® early this year. e donation has been allocated to assist two families with home construction. “Balan” family with HFHG President, Shane Intihar
GAR Vice President, Clare Delgado, Citi Foundation Representative, Connie Moral, GAR Executive Officer, Peggy Araullo Llagas, HFHG Executive Director, Christine Gordon, GAR Director and Workforce Housing Committee Member, Layla Raymanova and HFHG President Shane Intihar
Building Houses, Building Hope, Changing Lives. Guam Association of REALTORS® representatives with “Balan” family. 28 CasaGuam August 2011
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Who Ya Gonna Call
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Classifieds Commercial Rentals Dededo 106 East Sta. Barbara, Dededo 4bed/1 ba corner house, fenced, and gated. Centrally located close to church, school and malls. Asking $1,200/month. Call MYRNA @ 488-0144
Ordot-Chalan Pago Commercial space for rent. Approx 2155 sq ft. Ideal for laundromat, bakeshop, video store or retail business. Asking $2,500/mo. Please call ANGIE @ 727-2228 Commercial space for rent. Approx 850 sq ft., video store or retail business. Asking $850/mo. Please call ANGIE @ 727-2228
Tamuning Tamuning Oka Plaza – 810sf - $648 / 907sf - $816.30 / 1st flr. 907sf - $1,360 Call 637-7165 / 688-0887 / 689-7900 Rocky Business Center Well Maintained Building w/ Elevator. 1000sf -$1,200/ 1,172.56sf - $1,407 / 2400sf - $2,800 Call 637-7165 / 688-0887 / 689-7900
Barrigada
Tamuning
2b/1b, near Subway with water $830/mo. Please call 637-7165 / 688-0887 / 689-3333
Popular Pia Marine 2 bedroom 2 bath units available for Month to Month Rentals. Utilities/Furnitures included with cleaning services. $2400.00. Call Nick @ 689-2939.
Dededo Dededo Ester Garden Large 2BR/2BA w/ Den C/AC ONLY $850.00 month 637-7165 / 688-0887 / 689-7900 3Bd/2Bd/1Bd located near schools/church/store and front of park Semi-Furn. Sec.8 & Military OK. Pls. leave message at 727-6456 Great spacious house located near Paradise Estates. 5bd/3bth. Section 8 okay with full security deposit. Call 646-9870/1 Dededo Villa Rosario - Spacious 3BR/2BA W/D, Pool, Security, Mailbox $1,650.00 3Bd/2Bd/1Bd located near schools/church/store and front of park Semi-Furn. Sec.8 & Military OK. Pls. leave message at 632-1200
Hagåtña Hagatna large 2 bedroom 2 bathroom condo excellent condition $1,000 mo. Call 637-7165 / 688-0887 / 689-7900
Tamuning Commercial Spaces 500 sq ft ~ 2400 sq ft. Asking $1.15/sqft + common area. Please call 637-7165 / 688-0887 / 689-7900
Tumon
Latte Heights Spacious 4 BR/2BA home in central location. Gated and fully fenced with indoor laundry and outside entertainment area for parties. Asking:$1900/mo. Call Roma@988-9587.
Fountain Plaza for Rent: Finally prime commercial space in the much desired Fountain Plaza. Own your very own business amongst the likes of many long time established busibesses already patroning this plaza. Where can you go wrong, San Vitores road frontage with ample space, there are no lossers and YOU are the winner. Asking $2,700/mo. Please call DANIEL @ 687-5422
Nice Large - 2BR/1BA in Maite near Shop 4 Less $800.00 Call 637-7165 / 688-0887 / 689-7900
Residential Rentals
Mangilao
Mongmong-Toto-Maite
Maite Wiliwilie Apartment 2BR/2BA Only $800.00 month Call 637-7165 / 688-0887 / 689-7900
Tumon – Dai-Ichi Condo – 3b/1b, 3rd floor. $1,300/mo. Section 8 OK. Please call 637-7165 / 688-0887 / 689-3333 / 477-7042 Tumon Heights Court - 3BR/2BA Excellent Condition, Pool. $1,650.00 Call 637-7165 / 688-0887 / 689-7900 Tecio Tumon Villa: Nice two bedroom two bath condo located in Tumon. Condo is just a walking distance to the beach, stores, restaurants and nightlife. Asking $2,100/month. Call VIC @483-7518 Tumon 2bd / 2 ba + Den. excellent condition. Asking $1200. Please call 637-7165 / 688-0887 / 689-3333 / 477-7042 Tumon Holiday Manor ; 4 bedroom, beatifully furnished with pool and BBQ area, near beaches. Asking $3,800/month. Call VICKI for a showing @ 687-3558 Happy Landing Road, Tumon 3bd, 2ba, Condo : Enjoy your island paradise in this 2nd floor unit within walking distance of Tumon Beaches. Complex has a pool and the unit is all ceramic tile, central a/c and accordion typhoon shutters. Asking $1,900/month. Call DEANNA @ 688-2855 MLS 10-133 Tumon Penthouse for Lease: A Rare Penthouse, Oceanview unit is now available. This large 2 bedroom 2.5 bath Condo was upgraded and is in like new condition. Security, Full Back-up Generator, Pool, 2 parking all go along with your desire for the ''good life'' while on Guam. Water included. You CAN have the dream. Asking $3,800/month. Call DEANNA @ 688-2855 MLS 10-744 San Vitores Terrace Condo: 3bd/2ba, 3rd floor unit with oceanview, upgraded unit with new carpets, pool, security and basic cable TV. $1800. Call Coral Sea Realty 649-6088
Agat 3 bedroom / 2 ba house, close to schools, stores, beach and church. Asking $1250.00. Call 649-8265 or 888-7447
Asan Asan Beach House Newly Renovated, Fresh paint and ceramic tiles. Asking: $2,200.00/mo. Call FRANK @ 479-4663 Asan 3bd./2ba. Ocean Views Newly Renovated - All ceramic tiles. New a/c's. Asking: $1,900.00/mo. Call FRANK @ 479-4663 30 CasaGuam August 2011
Nice house on a cul-de-sac street in Latte Hts. 4 bedrooms, 2 baths with all ceramic tiles and split a/c units per room. Newer kitchen counters and appliances. Fenced back yard. Has always been leased to military personnel for their tour on Guam. Asking $2,100 / month. Call DEANNA @ 688-2855
Upper Tumon Horizon Town House 3BR/2BA Plus 2 Balcony. Must See.. Unit Security Gate Call 637-7165 / 688-0887 / 689-7900
Yigo
Piti
Perez Acres: 4 bedroom, 2 bath with pool & playground. Corner unit. Asking $1,900/month. Call SANDY @ 687-6006
2br/1ba apt close to Port Authority of Guam , NavSta, Polaris, store, church, park and beach! Ocean Breeze Apartments $600. Call 649-8265 or 888-7447
Perez Acres: 3 bedroom / 1.5 ba townhouse with extra room great for family room or office, gated and secured community, pool, mail delivery. Asking $1900 . Call CORAL SEA REALTY 649-6088
Residential Sales Agana Heights Cliff Condo 2BR 2BA Lease Reduced $47,900 Call 637-7165 / 688-0887 / 689-7900
Barrigada Barrigada Large 4BR/2Ba 1800sqft. House Only 243,000 637-7165 / 688-0887 / 689-7900 Opportunity Knocking.... Buy the home you deserve! Newly renovated 4BR/2BA home with a snazzy kitchen, fenced and waiting for YOU to move now! Asking $445,000. Call DEANNA @ 688-2855 4BR 2BA Near Happy Market 1800SF Only $243,900 637-7165 / 688-0887 / 689-7900 Large 4BR/2BA Renovated House 1800sf $1,900.00 Rent Call 637-7165 / 688-0887 / 689-7900
Dededo Dededo Pacific Garden Condo 1BR/1BA Excellent Condition $52,500 637-7165 / 688-0887 / 689-7900 DEDEDO Multi-Family House located in front of Dededo Park, Library and Julyor's Office. Lots of nearby schools, markets and churches. Income Property with fully occupied and screened Tenants. Property located in a corner lot with fence. This is a wise choice of investment property. For sale by owner. Call now and lv msg at 727-6456. Las Palmas Phase I Great 3bd / 2.5 ba Townhouse style condo. Great for first time home buyer or investor. Complex includes Pool, playground, BBQ cabanas and night security. Asking $195,000. Please call DEANNA 688-2855 Pacific Garden, Dededo – Large 1BR/1BA 1st Floor. Only $55,000 Call 637-7165 / 688-0887 / 689-7900 A nice 3bed/2ba house completely renovated in 2008 with ceramic tiles, french windows and security grills, waiting to be your home. Located in a quiet neighborhood that's perfect for raising a family. Priced to sell at $169,000. Call MYRNA @ 488-0144
Inarajan 2 bedroom / 2 bath on a living area of 800 sf and 5,526 ± sm lot. Fixer upper home on a beautiful beach front property, over an acre in size. There is already Power&Water if you would like to rebuild. Asking for $628,054. Call DEANNA @ 688-2855
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Classifieds Mangilao Latte Heights House with 3 bed / 2 ba, ideal location with carport, fully fenced, gated, spacious yard with patio. Asking $200,000. Please call ANGIE @ 727-2228
Mongmong-Toto-Maite Exceptional 3bd and 3.5 ba home waiting for that special family to fall in love with. Enjoy the view, separate refrigeration and stove for the person who enjoys cooking, the pool and the great central location. Asking $630k Call JUDY @482-7775
Ordot-Chalan Pago Quiet, Private, and centrally located 4 bedroom 3 bath house on a 1/2 acre lot. this would be great if you enjoy your privacy and appreciate being close to shopping malls, grocery stores, and schools. Asking $315,000. Call JOYLYN @ 4885069 for a showing. MLS 10-2077 Apusento Gardens Condo : Great price with seller financing. Just like you pay monthly rental, without bank fees. Downpayment is required. Asking $105k. Call JAMES @482-0498
Talofofo Talofofo Homes for Sale: Great starter home on large lot with fruit trees. Outside kitchen and laundry room with metal roof attached to house. Asking $85K. Call LIBBY @ 686-2627
Tamuning
Large 3BR/2BA Excellent Condition, 1st Floor. Only $160.00 Call 637-7165 / 6880887 / 689-7900
Tumon Tumon Vill Gi Papa Ladera 3BR/2BA Only $119,000 637-7165 / 688-0887 / 689-7900 Tumon Blue Pacific Lattice 1BR/12BA Excellent Condition Only $199,000 637-7165 / 688-0887 / 689-7900 Nice 2 and 3 bedroom condo with panoramic ocean view and city view and waliking distance from the shops and hotels. Please call George 483-9111 Century 21 CR.
Yona Winward Hill Estates: Lovely 4 bedrooms / 2.5 ba with beautifully upgraded kitchen and bathrooms, nicely appointed living & dining spaces & bedrooms. Large, well maintained yard with lots of gorgeous plants, flowers, trees and a cozy verandah & spacious tool shop in the middle of it all! Come see this beauty in Yona. Asking $289,000. Call MARILOU @ 988-5600 Baza Gardens 3bd./2ba 1,600 s.f .Extended with game room. Asking $175,000.00. Call FRANK @ 479-4663 Baza Gardens - $169,000 - Best Deal! 3 BR 2BA corner lot home in great condition - call for details...Asking $169,000. Call LIZ @ 687-0911
Land For Sale Tamuning Beverly Palms Condo 2BR/2BA Excellent Condition $174,000 637-7165 / 688-0887 / 689-7900 Tamuning Beverly Palms Condo 3BR/2BA Excellent Condition $234,000 637-7165 / 688-0887 / 689-7900 Tamuning Sabana Large 3BR/2BA Excellent Condition Only $160,000 637-7165 / 688-0887 / 689-7900 Private and secluded Tamuning 3bed/1ba house with partial ocean and city view. Recently painted and upgraded with ceramic tiles, french windows and accordion typhoon shutters. Fenced and gated, and comes with 4 split A/Cs'. Asking only for $229K. Call MYRNA @ 488-0144 TAMUNING Executive 2 Storey Spacious House for Sale by Owner. Great location beside Cost-U-Less Tamuning and GPO. Great lifestyle and community environment with 5 bd/3ba corner lot; nice sized bd on 1st and 2nd flr; luxurious master suite w/ jacuzzi spa tub; quality granite staircases; hardwood railings; crown molding all over the house with open spacious kitchen and stainless steel appliances. Please call owner/lv msg at 727-6456.
Chalan Pago Chalan Pago LAND FOR SALE Great Investments with Lots of Potentials Near Front Road Zone C More than an Acre Size Lv Msge 632-1200
Dededo Dededo Land 18585Âą Very Nice $85,000 637-7165 / 688-0887 / 689-7900 Dededo Land with 830Âą sm with R-1 Zoned and minutes to NCS with paved access. Asking $45,000. Call YUMIKO @ 688-7791
Harmon Property is view lot next to last lot below Airport exit light on Pangelinan Blas St. in Harmon/Tamuning. Access paved w/sidewalks, water & sewer. Power up to adjacent lot below. Asking $490,000. call 637-7165 / 688-0887 / 689-3333 / 4777042
Piti Turner Rd. - Channel 10 - (Nimitz Hill) Piti. 151,508 sq. meters of unobstructed ocean views Asking: $2,300,000.00 Call FRANK @ 479-4663 CasaGuam.com 31
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Closing
Message from the Executive Officer By Peggy Araullo Llagas
Why Own?
there are many great reasons to consider owning a home:
T
You'll have a place that is yours! You'll own it, have a place to raise your children and become a part of your community. You can pass your home down to your children, and their children, creating security for generations to come.
You may pay less to own a home than you would to rent – and it's yours at the end! Homeownership can reduce the federal income taxes you pay. You can deduct the interest on your home mortgage and property taxes you pay on your home on the tax returns you file each year. These tax savings partially reduce, or offset somewhat, the actual cost of owning your home.
Your monthly payments won't ever go up if you choose a fixed-rate mortgage! If you choose a mortgage with a fixed-interest rate (one that stays the same for the life of the loan, say 30 years), you'll pay the same mortgage payment each month for the entire 30 years of the loan (if your taxes go up, your escrow will go up – increasing your monthly payment).
You'll build a good nest egg! Owning a home and building equity is the single greatest source of financial security and independence for the majority of people who've taken this step. - Freddie Mac’s Guide For more information on the opportunities here in guam and how you can build wealth through homeownership, contact a REALTOR® a member of the guam association of RealtoRS® or visit www.guamrealtors.com.
Guam Association of Realtors®
The Voice for Real Estate on Guam
Suite 236A Julale Center 424 West O'Brien Drive, Hagatna, Guam 969100 Office: (671) 477-4271 • Fax: (671) 477-4275 www.guamrealtors.com • email: eo@guamrealtors.com 32 CasaGuam August 2011
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