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CONTENTS
Message From GAR
Departments 4
Message from the President
Market Snapshot Jan 1, 2013 Sept 23, 2013
8
10
Feature Not Just a Way to Beat the Heat
By Clare Delgado 2013 President Guam Association of REALTORS®
SHOPPING FOR PROPERTIES ONLINE… CALL A REALTOR® FIRST!
Window Tinting for your home or office
October 2013 • Vol. 6 • No. 10
12
Profile Christopher G. Guerrero
P.O. Box 24881 Barrigada, GU 96921 Tel: (671) 472-3495 | Fax: (671) 472-3498 email: office@yellowpagesink.com
New Kid on the Block
16
From the Experts Remodeling for Form and Function with Home Equity
|Publisher| |Business Sales Manager| Jay-R S. Dominguez
|Display Advertising| Evelyn Trinidad
18
How to D.I.Y. Go Solar
|Traffic/Circulation Manager| Josie Redmond
|Production Manager| 20
Curb Appeal Your Front Door – A Small Change Can Make a Big Impression
22
One Last Thing Holding Title Corporations
25
Who Ya Gonna Call?
26
Classifieds
28
Closing Guam Association of REALTORS® AIDS Disclosure and Other Stigmas Part 2
Mark S. Burke
|Graphics & Layout| Mark S. Burke Edwin E. Valencia
|Editorial Contributors| Faye Varias Creative Services Marissa Borja Clare Delgado Anthony R. Godwin Bryan J.C. Sualog Jesika Artero Taitano Arlene Taitague Taitingfong Kim Anderson Young
Homeownership is a dream we all share. It’s part of the three basic necessities in addition to food and clothing. But with the rising costs of owning or renting a home along with a challenging economy, it may appear that pursuing that dream may be harder to attain. With that thought, we shop around, negotiate the best deal and hopefully get the most bang for our buck. Nowadays, looking for properties can be as easy as the click of a computer mouse. Most homes for sale or rent can be found online in various websites. Many of us know the benefits of looking of properties online in that you can search for properties anywhere and anytime. As you browse the listings, you could also see where the property is located, take a photo tour and calculate how much you can afford. There are many websites that advertise property listings. Websites such as Craigslist for example offers a section devoted to real estate listings. But while we are searching for the best bang for our buck, we need to remember that there are certain things we need to be aware of. When considering buying or renting property from an online source, take care that you are aware of whom you are dealing with. Part of being prudent is to know how to avoid online scams. Always deal with someone locally. Your favorite REALTOR® is local and will meet with you on a one to one basis. They can personally show you homes and negotiate the best price and terms for you. Secondly, it is highly recommended never to wire money to secure a property, unless you know the credibility of the recipient. Your local REALTOR® will ensure your deposit is safe and secure in either escrow or their company trust account. You can have peace of mind knowing where your hard earned money is deposited. It’s important to note that Craigslist does not participate in any transactions and also offers suggestions on avoiding scams. Your favorite and local REALTOR® though, can help you find the perfect place that you can call home. They will work hard to protect your deposit and ensure the keys to your home are safely delivered directly to you. Your REALTOR® is also one of your biggest advocates. They will protect your interests and strive to see to it that your dream of homeownership can also be as easy as a mouse click away. REALTORS® adhere to a strict code of ethics and are the ideal professional to help you in your pursuit of the dream of homeownership. Call your REALTOR® now!
GUAM ASSOCIATION OF REALTORS® Cover Photo: Mark S. Burke CasaGuam is Published by:
The Voice for Real Estate on Guam Suite 236A Julale Center 424 West O'Brien Drive, Hagatna, Guam 96910 Office: (671) 477-4271 • Fax: (671) 477-4275
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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Market Repor t
Market Snapshot: January 1, 2013 - September 23, 2013 Total Listings in MLS:
1,963 (as of September 2013)
Average Home Price: Single Family Home Days on Market: Average Condo Price: Condo/Townhome Days on Market: Market Type:
$244,329
187 $192,483
147 Buyer’s (& Renter’s) Market
Market/MLS Highlights! There were four homes sold/closed above $400,000 during the August 1, 2013 through September 23, 2013 period with the top sale being a home in Dededo that closed for 562,800, or approximately $215.00 per sq foot. During the same period a condominium unit on the beach in Tumon was sold for $850,000, or approximately $442.00 per sq foot. There were 37 homes and 18 condominiums that exchanged hands during this period. There have been 808 condominiums/apartment/townhouse units rented and 487 single family homes rented January 1, 2013 through September 23rd. The village of Tamuning had the highest reported average sold price year-to-date for single family homes of $491,375. There were 68 homes sold in the village of Dededo followed by 27 homes sold in Yigo. 4 CasaGuam October 2013
GUAM REAL ESTATE NEWS! As we head into the fourth quarter of the year, it’s a great time to begin your search for a home for a holiday time move-in. What an awesome gift to yourself or your family when you can truly say, welcome to My Home. Yes, there are so many reasons that NOW is the time to make your move…. Low Interest Rates…Bank interest rates remain very attractive. Time to head to your lender and get pre-qualified/pre-approved for a loan. Know your financing power before you start your hunt for homes. FREE Money to Help With The Down Payment. There is now more $$$ available through the Guam Housing Corporation grants up to $10,000 to help with closing costs for home purchases to qualified buyers. REALTORS Are Creating More Home Owners On Guam! REALTORS have helped over 270 of our island residents purchase a home or condominium property so far this year. Thank you to our REALTORS for making home ownership happen right here on Guam! PROPERTY CHOICES! There were over 1,000 homes and condominiums/townhomes on the market for sale as of September 23rd in nearly all price ranges, styles and locations. From starter homes to million dollar plus mansions…there’s a home for nearly every budget. ADVICE TO BUYERS. The signals to buy are everywhere…more choices! Low interest rates! Help with closing costs & down payments. These are the ideal conditions to make a home purchase. Will these conditions last forever? No. Supply and demand affects everything…including the purchase of a home. Interest rates on mortgages in Guam are based on the financial markets in the US. As the US financial markets improve, interest rates will most likely start to rise. As demand for real estate increases sellers are less likely to provide concessions and credits to buyers. As the number of properties available for sale decreases then the usual market response is an increase in prices. Property choices, low interest rates, help with closing costs and down payments… it’s an ideal time to buy! FINDING PROPERTIES. Perhaps 90% of buyers and tenants start their search on the Internet. Nearly all real estate websites on Guam feature all properties from all real estate companies through the Guam MLS. Websites such as www.guamhome.com even allow you to create favorite folders, save searches and track properties that meet your requirements. When you are ready to make a move, we are here to help.
All data in this article is from the *Guam Multiple Listing Service (MLS) for the period stated.
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Feature
One of the first things you do when you get a car is get the windows tinted. With the heat on Guam, it’s more of a necessity than a luxury. Now, have you ever thought about getting the windows at your home tinted? If not, maybe you should. It has a lot more benefits than you realize.
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Feature
Not Just a Way to Beat the Heat: Window tinting for your home or office By Bryan J.C. Sualog
Joe Roberto, managing member of East Island Tinting and North Island Tinting says most customers get primarily for heat reduction, “then they let us know how much they saved.” In addition to heat reduction, the benefits include power savings, fuel savings, comfort and the protection of furniture, carpets, and other items from the harsh ultra violet rays from the sun. Once the tint is applied, Joe says the upkeep or maintenance is very minimal. “All you need is a soft damp cloth to wipe it down. Do not use any type of fancy cleaners as there’s simply no need for it. The film has a clear protective layer which allows for easy cleaning.” Using harsh cleaners would only shorten the life of the tint. Joe says there isn’t any legislation that he knows of concerning tinting your home, but each customer should be aware of the differences in tint or film. “We provide the right film for the right reason. We do not recommend putting automotive film on residential or commercial type applications. Auto film may be cheaper and you know how that saying goes, ‘you get what you pay for.’” Interested customers are encouraged to contact East Island Tinting or North Island Tinting for an estimate. “We provide you a free estimate based on our conversation on exactly what type of film you’re looking for or what you’re trying to accomplish using film.” The process is pretty simple. Joe and Tom’s team will go to your home or office for a visit. They’ll measure all your windows provide suggestions on what really needs to be done. “On occasion we’ve come across windows that don’t really need any film.” Once that’s done the job is scheduled. The job length varies but the average home takes about two working days to complete, he says. If anyone on island understands the benefits of tinting, it’s Joe and his brother Tom Roberto, general manager for East Island Tinting and North Island Tinting. The two brothers have been in the tinting business for more than 22 years. The family started with one company,
Island Tinting, in 1990. Since then the business has expanded to North Island Tinting, East Island Tinting and the auto-detailing company Paradise Auto Spa. To ensure customer satisfaction, Tom has received various accreditations including automotive accreditation, solar accreditation, advance solar accreditation, and safety accreditation. He is the only one on island with all four accreditations, which he had to work two years for. “It was very difficult. There was a lot of reading and studying. Remember, you have to understand everything that you are reading,” Tom says. Tom had to learn about the different types of film and what was legal on automobiles. He became an expert in what the sun does to your window and how applying window film affects it. “It taught me that you can really change the outcome of a piece of glass after filming.” It wasn’t just hard work. The accreditation process involved a lot of traveling. Tom says he had to travel all over the U.S. to places like Las Vegas, San Francisco, Chicago, and Kentucky. He also had to make international trips to Japan as well. The two brothers take their business seriously and appreciate it when others take notice. Tom was recently recognized by the International Window Film Association or IWFA. In 2012, The family received the Small Business Administration’s Jeffrey Butland Familyowned Business of the Year award. “We spend thousands upon thousands of dollars for our staff to be trained and educated. I don’t think our competition is even on the same plateau as we are. We don’t just put film to glass. We’ve gone the distance to learn about the sun and all its energies and glass itself,” Joe says. “Film is only one part of our industry we take seriously. The understanding we have is bar none the best in Guam and all of Micronesia. Tom’s accreditations prove it. We don’t just say we’re the best, we prove and go to every extent in our industry to make sure of it.”
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Pago Bay Beauty On The Cover
B
eautiful single story house with high pitched ceilings and only a mile from Pago Bay. It sits on a ¼ acre landscaped corner lot. It is a spacious house with 4 bedrooms, 3 bathrooms, formal dining room, and bonus space that can become your formal sitting room, your office or another bedroom. It also offer you amenities such as Double car garage with automatic door, 1,000 gal back up water tank, well maintained Automatic transfer 100% 40KW capacity generator with concrete structure & 500 gal Diesel tank, professional landscaping with sprinkler system, water softener system, and RO drinking water system, water boaster pump and all split A/C units. Don’t forget to ask about the credits offered by the Seller.
E.Cotton/P.B.
Call 687-8865 for more information
Geri Cordova REALTOR®
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Profile
The New Kid on the Block By Bryan J.C. Sualog
A
“
Christopher G. Guerrero PRINCIPAL BROKER, RE/MAX REALTY GROUP
Associate Degree from College of the Canyons, Santa Clarita, California Family: Wife - Judy P. Guerrero; Sons - Jonathan Guerrero (18) and Anthony Guerrero (17); Daughter Caitlyn Guerrero (11) Organizations: President of Guahan English Bulldog Club; President of Project Dog Park, Inc. Education:
community, Guerrero serves as a model anyone new to the real estate industry or anyone looking to get into the industry. Guerrero's goals for the future include expanding RE/MAX Realty Group with the help of passionate, driven agents that share the common goal of helping all their clients to the best of their professional abilities. "Through fluctuating experiences and the fact that I love to educate and train, I am looking for real estate agents and Realtors to join in RE/MAX Realty Group and help the people of Guam achieve the Guamanian Dream of homeownership."
Casa Guam is a quality magazine showcasing the world of real estate on Guam. It addresses current issues and gives advice, poin ts of views and different perspectives coming from professionals in a variety of fields.
12 CasaGuam October 2013
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As the "new kid on the block" many might not know about Christopher G. Guerrero's new company. Guerrero is Principal Broker of RE/MAX Realty Group, which he recently established in December 2012, but he brings more than 10 years of real estate experience with him. "I've been in the business since 2001 and have seen Guam's housing market decline to record lows, where there were more foreclosures than regular homes for sale; The rise of construction and building new residential homes where the prices skyrocketed from its lowest just a couple years ago; The ups and downs of the military buildup and its effects; After the bailout, with laws being passed and banks becoming more strict with financing guidelines; And now after over a decade, the approval of the 100% RD loan program back to the village of Dededo." Prior to joining the real estate industry, Guerrero worked in banking and collections for seven years. It was after he met his wife's sister, Gina Campos, when he caught the real estate bug. "When I joined, I said to the Agents at RE/MAX Diamond Realty, 'If Gina can do it, I can do it!' which was a very bold statement to a bunch of aggressive, top producing Realtors." Throughout the years, Guerrero has established himself working for various real estate agencies before venturing out on his own. He's worked at companies such as RE/MAX Diamond Realty from May 2001 - August 2009 as a Realtor; Argent Estates Realty from May 2010 - December 2011 as a Realtor and Associate Broker; and Edge Realty from January 2012 to December 2012 as a Realtor and Associate Broker. With more than a decade of experience, Guerrero has just about seen it all. "Someone once asked me, 'What's the hardest thing about hour job?'" He says its keeping the deal together. "There are so many things that can go wrong -- from pre-qualification all the way to the day of closing. Knowing what to do or how to fix issues only comes from experience and having great support and training from your broker's office." During Guerrero's time in Real Estate he's had many memorable moments but one in particulars sticks out in his mind. Guerrero had a client, with four young children, who was going through a divorce. She asked him to find her a two-bedroom rental unit in Tamuning for $650. "She had been employed for a couple of years with a stable job, but she also thought she didn't have good credit," he says. "While looking, I asked her to fill out a pre-qualification worksheet. I sent that worksheet to her three times until she finally filled it out and gave it back to me. Too make a long story short, she now owns a three-bedroom/one-and-a-half bath for $700 a month and he's happy and grateful she made the decision to buy instead of rent. Every time I see her, she thanks me for the opportunity that was not even a consideration in her life." With all the work that comes with opening up a new business, you'd think Guerrero wouldn't have any free time to spare. You'd be wrong. Guerrero serves as president for both the Guahan English Bulldog Club and Project Dog Park, Inc. "What started off as a get together to mingle, share in our experiences, and enjoy the English Bulldog breed developed into an opportunity to establish Guam's first dog park through the Department of Parks and Recreations' Adopt a Park program. Continuing our efforts with contacts from Lt. Gov. Ray Tenorio and his staff, we are getting closer to this goal. We are also trying to reach out to other dog clubs and businesses who may be interested in supporting the dog park project." With the success of starting his own venture and still making time to help the
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From the Experts
Remodeling for form and function with home equity By Jesika Artero Taitano Assistant Vice President & Business Banking Officer
espite the challenging economy, the home remodeling industry is booming. In Guam, whether you’re remodeling to better suit your family’s needs or preparing to sell your home, the most popular home improvement projects tend to be the ones that increase a home’s value. These projects include kitchen and bathroom renovations, upgrading floor coverings and landscaping projects.
D
There are also a lot of new energy-saving technologies and, with rising utility costs, some homeowners are remodeling to convert to more energy-efficient appliances and lighting, and even investing in solar panels. While renovating is a great way to boost your home’s value, it can be costly. Right now, home equity lines are a hot product, making this a great time to consider tapping into a home’s equity to finance home improvement projects. With First Hawaiian Bank’s Equity FirstLine products, which offer homeowners a line of credit to make improvements, finding money to make these improvements may be easier than you think. Since you are borrowing on your home’s equity, you can draw on funds as you
need them, up to a predetermined limit, at a fixed interest rate lower than those for personal loans or credit cards. Much like you would use a credit card, you can access the funds of your line of credit anytime by simply writing a check and only paying interest on the funds you use. The current low interest rate environment for home equity products is especially attractive for those homeowners who have built up equity in their homes and are now ready to get started on improvement projects. We are definitely seeing more demand from our customers for home equity loans and lines because they have lower rates with possible tax deductions. With First Hawaiian Bank’s Home Equity FirstLine Plus, advantages include wrapping home improvement costs into a fixed rate lock to take advantage of today’s low rates. Recently, a First Hawaiian Bank customer upgraded their home by spending $100,000 on their Equity FirstLine Plus. After the remodel was completed, they chose to lock at a fixed rate of 3.75 percent so they didn’t have to worry about rising rates and fluctuating payments. With the right mix of low interest rates and equity, it’s possible to remodel your home without refinancing your entire mortgage and having to pay points and fees all over again. This is a great example of how borrowers can increase the value of their homes using a flexible line of credit and taking advantage of long-term fixed rate locks. Home equity lines are perfect for remodeling, they provide affordability and security with low rates and can also provide that added security with the fixed rate lock feature that is available with our Equity FirstLine Plus product. Talk with your personal banker at First Hawaiian Bank and find out how you can save money by opening a home equity line or securing a fixed rate lock on your existing Equity FirstLine Plus account today.
The opinions, statements and views contained in this article are those of the author, and do not necessarily represent the views of First Hawaiian Bank or its management. First Hawaiian Bank does not warrant that the information herein is accurate, complete or current. 16 CasaGuam October 2013
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H o w To D . I . Y.
Go Solar It’s time to use our Guam heat to our advantage. By Marissa Borja ith what seems like ever increasing power rates, it doesn’t really matter who you are or how much money you earn. The increases are bound to make you think twice about your power consumption. So what’s the solution?
W
Well, for those in the market to go solar, the technology is ready and available in Guam and it’s bounch to catch on soon enough. With it, you can practically get your bill down to zero, it’s pollution free, there are no moving parts—just clean, renewable energy.
In one of the past episodes of Pacific Home & Garden, we learned that the technology includes a meter, inverter, and the panels. A glance at the meter revealed it was spinning backwards! This is because the sun is producing more power for the home that it is consuming. This excess power causes it to move counterclockwise. The brain of the operation is the inverter. What happens is the power comes from the roof in a direct current. It enters through what looks like a pipe leading to the inverter. The inverter then reaches out and reads GPA—gets its frequency, voltage and cycles—and whet it matches GPA, it has an automatic switch that kicks in and starts producing the same power as GPA. There are plenty of safety features too to make sure it never feeds back against GPA should it ever go down: it only operates if GPA has an active grid against which it can work. Next, there are panels which are secured to your roof. Anchored into the concrete with stainless steel bolds and high strength hypoxi, the panels themselves can withstand winds over 175 miles per hour so no need to worry about losing your investment to a typhoon. The bonus with the panels is that because of their size and dimension, they actually provide shade to the rood so it cuts down on heat entering into your home. Anyone who’s ever had to pressure wash— or waterblast—their roofs know how hot it can get up there so this is definitely an added benefit. I know what you’re thinking—cost. Well, all good things come at a price and this is no different. So you will certainly pay a pretty penny. But this is a long term investment that with undoubtedly be worth your money. With the increasing consumer prices you might as well consider investing now so later down the line, you’ll be saving while others are still spending. Plus, the system is guaranteed to produce power at the same rate 25 years from now so rest assure that your investment will not deteriorate. For those who have the financial means to afford it, I say it’s a no brainer. Be grateful for the heat and let that scorching Guam sun pay for your power bill.
About the Author Since 2007, seasoned television personality Marissa Borja (Pacific Home & Garden and My Home with Marissa Borja) has been working to fill Guam's home and garden niche with stories, products and services that locals will find beneficial and relative to their lifestyle. She enjoys the creative outlet that writing and television offer in order to balance out her busy personal life as a wife and full-time mother of five.
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Curb Appeal
Your Front Door – A Small Change Can Make a Big Impression ’ve been watching a lot of real estate-related shows lately and it never ceases to amaze me what a little home improvement can do to increase the curb appeal of a home. I’d like to touch on doors in this article, because it is a change that we are capable of doing with reasonable cost (. . . depending on your tastes and budget) and is a great way to give our homes a facelift with a personal touch.
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By Arlene Taitague Taitingfong
MATERIALS First, let’s start with options for door materials: wood, fiberglass and steel. (These are the top three materials for doors, but there are other options i.e. glass & copper). The following is information I pulled from the HGDIY website about materials. Wood
The Front Door Your front door can say a lot about you and your home. It is the first thing one sees when one comes to visit. And yes, visitors definitely will be checking out the front door. So, if you really want to give them something to talk about and boost your curb appeal instantly, you'll need to really think outside of the box with the design.
Wooden doors are most often used in custom or specialized design situations since they are easiest to manipulate. With the countless options (mahogany, side lights, transoms, decorative glass, etc.) you can custom design the specific look you want for your entryway. Another design advantage is that decorative transparencies such as glass are easier to install in wooden front doors. A disadvantage to having a wooden exterior door is that over time, exposure to the elements can cause the wood to warp, resulting in a break in the door's air-sealing capabilities. Fiberglass These paneled doors can take a beating without incurring dents. Not only are fiberglass doors more durable than their wooden counterparts, they can also be stained in order to achieve the same traditional look of wood. And thanks to an insulated core, fiberglass doors give added protection from the elements. Keep in mind that fiberglass front doors may cost a bit more than wood, but the long-term energy savings can help offset the difference. Fiberglass virtually needs no maintenance. Steel Metal front doors have insulated foam within the panels and steel on either side and are the safest of the three options. One of the main problems with a metal door, however, is denting that's hard to repair. This can result in the need for a whole door replacement. Steel doors will start to rust if they are not cared for. A lot can be done to inhibit rusting but you still need to maintain steel doors to keep them in like-new condition.
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Curb Appeal The Designs Traditional doors are awesome, but one can take traditional materials and let the imagination take off ! Remember about thinking outside the box? Here are a few ideas.
doors in the middle. Fiberglass doors are starting to enter the lower-end markets but steel entry doors are still your best bet when it comes to bargain entry doors. But for those not on a strict budget, fiberglass is the way to go. It offers the best combination of performance, durability, value and security. Now fiberglass even rivals high-end wood entry doors for beauty. A few pieces can do the trick! As mentioned earlier, your front door says a lot about you and your home. If you have a simple front door in great condition, give it a fresh coat of paint. Add some character by adding some hardware. Even on a small budget, a few pieces of hardware like a kick plate can add a visual upgrade AND work as a functional addition. Replace the hinges with something that makes a statement and will make your front door stand out.
Red steel door with frosted glass
Guam has many home improvement and construction supply stores to visit. Changing or enhancing your front door may not be a project you might do immediately, but consider it as a “down-the-road� project on your journey to giving your home curb appeal. Shop around and get some inspiration!
Mid-Century Modern
The Budget If you are on a really tight budget, your best option for an exterior door is probably still going to be a steel door. Steel doors are usually the least expensive exterior doors you can get for your home. Wood doors are the most expensive with fiberglass entry
The hinges and hardware on this door, plus the bold red color, makes this simple door stand out in a big way!
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One Last Thing
Holding Title - Corporations By Kim Anderson Young et’s explore the rights and responsibilities of Corporations when purchasing and selling real property. There are three requirements for corporations when buying or selling real estate.
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First, a corporation’s Articles and Bylaws must allow for the corporation to do so. If a corporation’s structure does not allow dealing with real estate, it may not have the authority to do so. A transaction conducted under these circumstances may be invalid.
2. Corporate Resolution. 3. Certificate of Good Standing (or equivalent). The professional Escrow Officers at Security Title can help by obtaining Articles, Bylaws and Certificates of Good Standing from appropriate GovGuam agencies. Give our escrow team a call at 647.8100 TODAY to keep your transactions running smoothly!
Second, when you and I make a decision to purchase real estate, we might talk it over with our spouses, friends or family members. If we are smart, we will consult with a Realtor to guage the market and with our tax professional for advice on tax consequences. When a corporation “makes up its mind,” it acts according to its articles of incorporation and bylaws. Typically, the board of directors will make a decision to buy or sell property by majority vote. They memorialize the vote by writing a corporate resolution. Without this resolution, a corporation is not empowered to buy or sell real estate. Third, for you and I to be a valid entity, we just have to continue breathing. Optimally, we should be of sound mind, but that is a matter of opinion and a discussion better left for another time. A corporation has the responsibility be in “good standing” with its state or country of origin. This is the evidence that a corporation is “still breathing.” The Government of Guam and most of the United States governments issue Certificates of Good Standing or Certificates of Existence; Japan provides corporate registries; every country has it’s own method of certifying that a corporation is legally authorized to transact business. In order for a corporation to be in good standing on Guam, it must have filed and paid all of it’s taxes and filed its corporate annual report (due each June 30). So, to pull it all together, there are three key elements when a corporation plans on purchasing or selling real property: 1. Articles of Incorporation and Bylaws. 22 CasaGuam October 2013
About the Author Kim Anderson Young, President of Security Title, has over 30 years of experience in the real estate industry. Contact her at kim@securitytitle.net or 647.8100.
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W h o Ya G o n n a C a l l ?
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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
Harmon Ct. Townhouse. 3BD/2BA. Sec. 8 OK. $1,200/month. Call 637-7165 689-3333/688-0887
Residential Sales
Talofofo
Large 4BR/2Ba 1800sqft. House Only 248,000 637-7165 / 688-0887 / 689-3333
Talofofo
Dededo
Two 2BD hse. 1 Full Concrete & 1 semi concrete in one lot. $96K. Negotiable. Call 727-4985.
Ipan Talofofo. Just footsteps away from Pacific Ocean beach, gigantic 3BD/2BA home awaits you. Family room with more than 400sf. $2200/month. Call 687-6900.
Ordot-Chalan Pago Tamuning Commercial space for rent. Approx 850 sq ft., video store or retail business. Asking $850/mo. Please call ANGIE @ 727-2228
Residential Rentals Asan Nimitz Hill, 2BD apartment including ocean view. $950/mo. Modern upgraded, all ceramic tiled, typhoon shutters. Call 687-6900
Barrigada 2b/1b, near Subway with water $830/mo. Please call 637-7165 / 688-0887 / 689-3333
Dededo 1Bd / 2BD / 3Bd located near schools/church/store and just front of park across St. Barbara Church S/F S8/Mil OK Call/LvMsg 727-6456 Ester Garden: Large 2BD/2BA. Very nice. 1,000 SqFt, $800/month. Call 637-7165/688-0887/689-7700.
Dai Ichi Condo. 3BD/1BA, Pool, Sec 8 OK, by O/A. $1,250. Call 637-7165/688-0887 Sunrise D Condo. Large 2BD/2BA. Pool. Very nice. 1,000 SqFt. $1,000/month. Call 637-7165/688-0887/689-7700. Tumon 2bd / 2 ba + Den. excellent condition. Asking $1200. Please call 637-7165 / 688-0887 / 689-3333 / 477-7042 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 San Vitores Terrace Condo-2bd/1ba, 3bd/2ba - walking distance to beach, rest/bars, church. Asking $950 $1800/mo. CSR- PB 649-6088
Tumon Tumon Horizon Condo: 2bd/2ba, 5th floor, water incl., pool, security $950.00 CSR- PB 649-6088
Barrigada
Multi-Family House/Good Investment located front of Dededo Mayor’s Office/Park & Library Greath Neighborhood / Gated/ Corner Lot/Serious Buyers Only! FOR SALE BY OWNER. Call/LvMsg 727-6456 Villa Rosario Condo: 3bd 2ba Excellent Condition, Pool, Tennis Court, Play Ground. Good Location $160,000.00 Call 637-7165/688-0887 Las Palmas Ph3. 3rd Floor. Large 3BD/2.5BA/2Den. Pool. Excellent Condition. $255,000. Call 637-7165 689-3333/688-0887 Pacific Gardens. 1st Floor. Pool. Security. 1BD/1BA. $47,000. Call 637-7165 689-7700/688-0887/689-3333.
Harmon 3BD/2.5BA Townhouse. Pool. Security. Tennis Court. $1,900/month. Call 637-7165/688-0887/689-7700 Large 4BD/2.5BA. Single home. Pool. Security. Tennis Court. $2,450/month. Call 637-7165/688-0887/689.7700.
Executive 2-story house with a great view, fully fenced and a quiet area. 5bd/3ba w/ 2 huge balconies. SS appliances, wash/dry, 2-car garage. Huge storage shed, a must see, Military OK! $3500/mo. Call Joe @ 483-3333!
Exec. 2 Story/Very Spacious For Sale by Owner. Growing in a great location beside Cost-U-Less Tamuning and Guam Premium Outlet. Great lifestyle and community environment with 5bd/3ba corner lot; nice sized bd on 1st and 2nd flr; master suite w/ jacuzzi spa tub; quality granite staircases; red hardwood railings; crown molding all over the house with open spacious kitchen. Dream home and a good investment! Call/LvMsg 727-6456 Jonestown. 3bd/2ba, Large Yard. Fenced. $320,000 or $1,350 for rent. Call 637-7165/689-7700/689-3333
Tumon View Condo. 2bd 1ba. Near beach. $110,000. Call 637-7165/688-0887/689-333 Lily Village Tumon Condo. Nice. 3BDM 2BA Fully Renovated. $2,000/mo.
Yigo
Chalan Pago 2bed 1bath SFD for sale. 1169sq.m lot Asking $119K. Call Karen 988-1883
Executive 2-story house with a great view fully fenced and a quiet area. 5bd/3ba w/ 2 huge balconies. SS appliances, wash/dry, 2-car garage. Huge storage shed, a must see! $425KSale. Call Joe @ 483-3333!
Sinajana
Land for Sale
Large, villa style home. 5bd/3ba. Completely remodeled. Private and beautifully landscaped. Asking: $579K. (Priced below appraised value.) Call 489-3285
Chalan Pago
Yigo Single Home. Excellent Condition. 3BD/2BA. Large yard. Good location. $1,400/month or for sale $200K. Call 637-7165/688-0887/689-7700.
Tamuning
Tumon For Sale By Owner Summer Palace Estates Located close to Cost-U-Less in Harmon 4Bd/2.5Ba 2100 Sq. Ft. Home located in a secured gated community with swimming pool, tennis court, and playground. New granite countertop and tile floor throughout with typhoon shutters. $440,000.00 Please call 777-0951
Ordot-Chalan Pago Paradise Estates. 4BD/3BA, Exc. Condition, Fenced. $2,450. Call 637-7165 689-3333/688-0887.
Large 4BR/3Ba 2755sqft w/1600sqft covered deck/porch. Detached util & gen. room. Walled/Gated & beautifully landscaped. $529K. Call Michael @ 477-4111
Back of Island Fresh Market. $45,000. Bank Owned. 1,387 +/- sm. Call 637-7165/688-0887/689-3333
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Closing
Message from the Executive Officer
By Peggy Araullo Llagas
AIDS Disclosure and Other Stigmas - Part 2 lthough federal law provide guidelines for handling AIDS disclosures, there are still grey areas surrounding disclosures of other stigmas. When a property defect is physical, disclosure is mandatory in most states. When the defect is an emotional stigma, however, disclosure becomes dependent on materiality. The following guidelines are designed to help a listing agent, when faced with information regarding a potential stigma, determine whether or not a stigma is material to a particular real estate transaction.
A
STEP #1 Determine whether the information is fact or fiction. Investigate the sources of the information, e.g., check newspaper accounts, talk to neighbors, etc. Separate rumor from reality. If the stigma is based on rumor and not on fact, you are under no obligation to disclose. If, on the other hand, the stigma turns out to be factual, e.g. there was in fact a murder, you should proceed to the next step.
STEP #4 Discuss disclosure with the sellers. Go back and talk to the sellers about what you have determined. Walk them through your analysis and show them why this particular factor may make a difference in the sale of their property. If the sellers agree to disclose the stigma, make the disclosure judiciously. It is not necessary to disclose information about a stigma to those who simply express interest in the property. The best time to disclose is at the contract proposal stage. Present the subject as one more relevant piece of information about the property and use simple non-threatening language.
If the sellers disagree and refuse to disclose what you have determined to be a material factor regarding the property, you will need to give up the listing. Because the sellers are your clients, you cannot disclose information that they have specified should remain confidential without violating one of the duties inherent in your agency relationship with them. However, you may also be in STEP #2 violation of the basic duty to disclose material factors that affect the value or Check state laws. desirability of the property. The best way to handle this dilemma is to give Many states have enacted laws that generally apply to AIDS, homicides, or up the listing. suicides, and provide that the stigma is not a material factor which needs to be disclosed. CONCLUSION Remember, property stigmas are emotional issues that need to be handled If a state does not have a specific law governing disclosure of stigmas, there carefully. To reduce the legal risks in this area, it is essential that real estate may be other laws, such as privacy laws, that influence or affect disclosure agents: decisions. State statutes vary widely, however, so it is essential that an agent be (1) understand the issues associated with stigmatized property, familiar with the laws of his state. (2) know pertinent federal and state laws, and (3) know how to evaluate facts and make informed decisions about If there is a law governing disclosure, it will probably state that you have no disclosure. duty to disclose. Because there is no disclosure obligation, investigation into the issue ends here. If there is no law governing disclosure, proceed to Step -National Association of REALTOR®#3. The Guam Association of REALTORS® shall remain your leading advocate STEP #3 for promoting and protecting homeownership on Guam. Ask if your agent Determine materiality. is a REALTOR®. To analyze the materiality of a stigma, you should ask yourself this question: would knowing about the stigma affect the willingness of most people to buy Visit our websites at www.guamrealtors.com and the property or reduce the amount of money they would pay for the www.guamhousingprograms.com. property? Most stigmatized property cases involve stigmas that are less sensational than say a multiple-murder. Less sensational stigmas may or may not impact on the market value of the property. However, it is your job to make an analysis of what a reasonable person would do with this information. Would a reasonable person be willing to buy the property knowing about the stigma? Or, would a reasonable person pay less for the property knowing about the stigma? If, at this point in the analysis, the answer is yes to either question, you have concluded that the stigma is a material fact which should be disclosed. 28 CasaGuam October 2013
For More Information Contact: Peggy Araullo Llagas, Executive Officer Guam Association of REALTORS® Suite 236A Julale Center 424 West O'Brien Drive, Hagatna, Guam 96910 Tel: (671) 477-4271 • Fax: (671) 477-4275 Mobile: (671) 689-4271 • www.guamrealtors.com
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We speak Russian, Farsi, Chinese, Korean, Japanese, Filipino, and Chamorro facebook.com/Century21CommonwealthRealty
RENTALS Pacific Gardens Condo, Dededo - 3Br/2Ba - $1,350 - #13-3519 Las Palmas Ph II, Dededo - 3Br/2.5Ba - $2,200 - #13-3325 Apusento Gardens, Ordot-Chln Pago - 2Br/1Ba - $850 - #13-3518
Sinajana $249K 2Br/2Ba #13-3478
Tumon $85K 2Br/1Ba #13-3285
Barrigada $429K 4Br/3Ba #13-3391
Dededo $168K 2Br/1Ba #13-3174
Dededo $195K 3Br/2Ba #13-3245
Dededo $223K 3Br/2.5Ba #13-3173
Dededo $225K 3Br/2Ba #13-3101
Dededo $225K 4Br/2.5Ba #13-3123
Dededo $270K 3Br/2Ba #13-3459
Dededo $425K 4Br/2.5Ba #13-3288
Inarajan $178K 3Br/2.5Ba #13-3368
Mangilao $279K 4Br/2Ba #13-3457
Yigo $180K 2Br/1Ba #13-3311
Yona $378K 3Br/3Ba #13-3452
Mangilao $39K 2Br/1Ba #13-882
Santa Rita $498K 4Br/3.5Ba #13-3030
Tamuning $658K 5Br/4Ba #13-1166
Ordot-Chln Pago $699K 5Br/4.5Ba #13-1770
Ordot-Chln Pago $432,500 4Br/3Ba #13-2984
Mangilao $410K 4Br/2.5Ba #13-373
Ordot-Chln Pago $250K 5Br/2Ba #13-2505
Tamuning $178K 3Br/2.5Ba #13-3558
Tumon $350K 3Br/2Ba #13-2966
Yigo $375K 3Br/2.5Ba #13-2388
Tamuning $100,000 Business #13-3058
Tamuning $650,000 Commercial #13-1488
Flora Pago Condo, Ordot-Chln Pago - 3Br/2.5Ba - $1,900 - #13-3266 Flora Pago Condo, Ordot-Chln Pago - 3Br/2.5Ba - $2,200 - #13-3163
A&D Apts, Tamuning - 3Br/2Ba - $1,600 - #13-3516 Dededo Home - 4Br/1Ba - $1,800 - #13-3187 Dededo Home - 4Br/2.5Ba - $2,200 - #13-3289 Mangilao Home - 4Br/2Ba - $2,200 - #13-3458 Mangilao Home - 3Br/2.5Ba - $2,450 - #13-3491 Yigo Home - 4Br/2.5Ba - $4,400 - #13-3460 Yona Home - 3Br/2Ba - $2,500 - #13-3384 Yona Home - 3Br/3Ba - $2,500 - #13-3223 Alupang Cove Condo, Tamuning - 2Br/2Ba - $2,200 - #13-1523
Homes & Condos
Alupang Cove Condo, Tamuning - Studio/1Ba - $1,500 - #13-3186
Holiday Tower Condo, Sinajana - 2Br/2Ba - $2,200 - #13-1909 Hibiscus Gardens Condo, Tamuning - 3Br/2.5Ba - $1,300 - #13-3559 Blue Pacfic Lattice, Tumon - 3Br/2Ba - $2,450 - #13-3589 Dededo Home - 3Br/2Ba - $1,250 - #13-2110 Tamuning Home - 3Br/2.5Ba - $2,800 - #13-626 Tumon View Condo Ph I, Tumon - 2Br/1Ba - $900 - #13-2384 Tumon Holiday Manor, Tumon - 3Br/2Ba - $1,900 - #13-2963 Yigo Home - 3Br/2.5Ba - $2,450 - #13-2389
LAND
Yigo Home - 3Br/4Ba - $2,700 - #13-3569
Agana Heights Lot - 1,608sm - $180,000 - #13-3279 Ipan Talofofo Lot - 969sm - $38,000 - #13-3494 Ipan Talofofo Lot - 990sm - $58,000 - #13-3132 Ipan Talofofo Lot - 991sm - $58,000 - #13-3133
Commercial & Multi-Family
Marine Corps Drive, Yigo - 58,096sm - $4,357,200 - #13-3334 Santa Rita Lot - 606sm - $39,000 - #12-3885 Yigo Lot - 1858sm - $56,000 - #13-315 Barrigada Lot - 4,171sm - $465,000 - #13-1613 Oceanview Property - 1,123sm - $130,000 - #12-4907
Harmon $26,000 Business #13-3385
Dededo $25,000 Business #13-1090
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