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CONTENTS
Let ter from the Editor
Departments 4
Letter from the Editor
Market Snapshot Market Value vs. Market Conditions
6
10
Feature A Day in the Life of a Furniture Buyer
12
Real Estate Spotlight Set Back Requirements
14
Profile Aiza Champaco Service to Many Leads to Gratification
December 2014 • Vol. 7 • No. 12 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
[ Editor ] Arlene Taitague Taitingfong
16
From the Experts Recycled Furniture A Story in the Wood
18
How to D.I.Y. Home Safety Tips for the Holidays
[ Display Advertising ] Evelyn Trinidad
[ Traffic/Circulation Manager ] Carol Aperocho
[ Production Manager ] Mark S. Burke
[ Graphics & Layout ] 22
Curb Appeal How to Buy Furniture
Mark S. Burke Edwin E. Valencia
[ Editorial Contributors 25
Who Ya Gonna Call?
26
Classifieds
28
Closing Guam Association of REALTORS®
Siska Hutapea Judith Mosley Arlene Taitague Taitingfong Kim Anderson Young
Arlene Taitague Taitingfong
Seasons Greetings Everyone! The theme for this month revolves around Interior Design with focus on furniture. Ever wondered where your furniture comes from? Take a journey with Sylvia Flores as she shares her adventures in our Feature, “A Day In the Life of A Furniture Buyer”. We also have an article by Judith Mosley who shares her stories about recycled boat furniture in From The Experts. Our theme for this month would not be complete if we didn’t have something to say about how YOU can buy furniture. Check out Curb Appeal to see how you can simplify the process with insight shared by Jacqueline Dungca. Our Profile this month is Aiza Champaco. She started in the real estate business very young and has grown, not only with her company, but also in her experience and skill set. Her story will inspire you. Have you started decorating for the holidays? Read D.I.Y. for Holiday Home Safety tips that cover any stage of decorating you are in. There are a few security tips you can use to dissuade burglars. No one wants to be a statistic, especially during the holidays! This month’s Market Report is brought to you by Siska Hutapea. She writes about market values and market conditions, plus get the latest statistics! Kim Young’s article in Real Estate Spotlight, gives us a look at property setbacks. Good information to know! Peggy Llagas gives us an update on the Fair Credit Reporting Act and Louisa Wessling gives us a report on the REALTOR® conference she attended last month. Last, but not least, we inadvertently misspelled our November Profile’s last name. It should have read: Sheila Vega Villamora NOT Sheila Vega Villanueva. Feliz Navidad!
Cover Photo: Mark S. Burke CasaGuam is Published by:
Arlene Taitague Taitingfong
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 Value vs. Market Conditions On Market Value In most cases, an appraisal report is completed to estimate market value. The Dictionary of Real Estate, 5th Edition, published by Appraisal Institute in Chicago provides the following definition: “The most probable price that a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: A. Buyer and seller are typically motivated; B. Both parties are well informed or well advised, and acting in what they consider their best interests; C. A reasonable time is allowed for exposure in the open market; D. Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and E. The price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions granted by anyone associated with the sale. As described, the condition in which a market value was estimated is an ideal condition - which may or may not happen in the market. Market participants typically have motivation when buying or selling property, however some may have limited knowledge of the real estate market or other factors which could potentially affect the transaction. Therefore, an unbiased, well supported opinion of value provided by an appraiser will provide a buyer or seller information to make an informed decision. The scope of work can also vary depending on intended use, and when discussing valuation services to be provided, an appraiser should be able to assist their clients in providing an appropriate scope of work. Despite stringent adherence to professional standards, 4 CasaGuam December 2014
appraisals are a service business, so do discuss with your appraiser what services you need and your intended uses in order for your appraiser to satisfy your specific service needs. On Market Conditions Property investments are all about knowledge of the market. We have summarized a year over year comparison (2013 vs. 2014) for residential and land sales statistics for CasaGuam readers. We have summarized both on Cornerstone Valuation Guam database which includes all transactions in Guam and from GAR MLS, which includes portion of all transactions listed on MLS. Note that sales volume increased significantly in the condominium sector through October YTD statistics, but decreased on land and single family dwelling sectors.
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Market Repor t
January 2014 - October 2014
Cornerstone Valuation Guam Database Category
2013
2014
% Change
Condominium: No. of Sales Sales Volume ($/M)
136 $25.8
210 $44.8
54% 73%
Single Family Dwelling: No. of Sales Sales Volume ($/M
463 $110.9
433 $104.5
-6% -6%
Land: No. of Sales Sales Volume ($/M
223 $61.5
229 $43.1
3% -30%
GAR Multiple Listings Service (MLS)
Category
2013
2014
% Change
Condominium: No. of Sales Sales Volume ($/M)
96 $17.8
132 $26.1
38% 47%
Single Family Dwelling: No. of Sales Sales Volume ($/M
230 $57.7
185 $47.2
-20% -18%
Land: No. of Sales Sales Volume ($/M
89 $15.8
85 $12.1
-4% -23% CasaGuam.com 5
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Feature
A Day in the Life of a Furniture Buyer By Arlene Taitague Taitingfong
Have you ever wondered what goes into the process of buying furniture for our island residents? If you have a difficult time trying to select furniture for your home, imagine what it would be like to be a buyer looking for furniture for the masses! It’s a difficult job and there are many factors that go through a furniture buyer’s mind during the selection process. My curiosity led me to interview Ms. Sylvia Flores, owner of Furniture Trends, upon her recent return from a furniture show in Las Vegas. Flores has over 30 years of buying experience. She also is an interior designer. Put the two talents together and you have a combination for success to a large degree. Her clients are residents interested in procuring trendy furniture that is durable and stylish. Her skills, and furniture, have found their way into many of our homes. Her resume includes interior designing of the homes of a general, an admiral, two guest houses and lodges on Anderson Air Force Base, numerous prominent business owners and Guam’s own Government House (during the Camacho/Cruz administration). She has fond memories about the Government House project because it was a great experience to have had a hand in designing “The People’s House” for our island. Let’s start at the beginning of the furniture buying process. What does a buyer take into account? “People, including the military, are always looking for inspiring pieces,” reported Flores. “I try to look for something different. I also search for items that are high quality, but also are moderately priced.” Her journey begins with an annual trip to The Furniture Show. This year, it was held in Las Vegas. The following is an account of a typical one week furniture buying trip to this yearly event. 6 CasaGuam December 2014
Days 1 - 3: The Shopping Experience. Flores explained that there were three buildings, each about 16 stories full of furniture displays—everything from living room layouts to bedroom designs—represented by furniture companies and suppliers. “If we had a store in the mainland, it would be easy for the supplier to come and visit us, however, we live so far away, that we need to go to the show and make sure we see what is available and make appointments to see the suppliers during the expo,” explains Flores. The morning of the first day, one is given a directory to muse over and guide them along their walk. This is a good time to take note of which supplier you want to see. As a buyer, you will do A LOT of walking. Flores commented that you need to have strong legs to walk for five days at the expo, good eyes to see merchandise and strong arms to carry the catalogues, plus a strong rolling cart. The expo is open from 8am to 6pm. Once you walk in, it is showroom after showroom. Luckily, there are refreshment stands along the way, giving out Free food and drink, courtesy of the furniture company that you happen to be visiting. One does not have to leave their route, or the building, to get some sustenance for the ongoing trek. Flores took pictures for CasaGuam Magazine so that we can see what temptations were available. “As an interior designer, you need to ask yourself how can you create something of interest for your client. I’m looking for things that give a ‘new experience’ for the client. You need to keep in mind what the community wants. As a buyer, I’m always conscientious of price points after the furniture arrives on Guam.” She went on to say that her clients know that she looks for beautiful and lasting pieces. (continued on page 8)
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Feature
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Feature (continued from page 6) Day 4/5: The Wrap Up. For the first three days, Flores had been devoted to scouting out the goods and identifying what pieces interested her, keeping in mind her clients back on Guam. It was now time to write up the orders. According to Sylvia, this is a very specific process and one has to keep their budget in mind. “It is so easy to go over your budget,” says Flores. “One must select pieces that will sell well and quickly”. She also stressed the importance of having a good relationship with suppliers, especially when we live so very far away. They will assist you with shipping the orders out. It’s not all about buying. There are other things to do at an expo. It’s not all just walking around looking at furniture. Flores reported that there are seminars available, such as, “How to Make a Profitable Sale," “Window Treatment” and “Adding Accessories," just to name a few. Each day you are greeted with juice and a muffin and suppliers sometimes contract with a major food franchise so that there are refreshments throughout the day. There is even a daily “happy hour” after the expo closes at 6PM, and a chance to meet celebrity hosts from HGTV. On the last night, there is a banquet for all participants. Furniture buying sounds like a wonderful journey to take!
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So the next time you look at a piece of furniture, remember that a lot of thought (and walking) went into that selection!
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On The Cover
T
Oka Towers
his gem offers the best of luxurious island living. Enjoy breathtaking views from your wrap around balcony. Located on the center stack of the 11th floor, this unique unit is sure to please. Enjoy the splendor of the million dollar view night and day. This unit boasts granite countertops, stainless appliances and an upgraded kitchen. Amenities include a playground, tennis court, barbecue pavilion, mail delivery, swimming pool, jacuzzi, top notch security and much more. From the moment you pass through the security gate you enter in to the elite, pristine, peaceful, choice, classy community. The entrance is calming with beautiful flora and serene koi filled ponds. Relax in the Jacuzzi or splash around in the pool. Truly the best and you are worth it!
HORIZON PROPERTIES, INC
Maria E. Miller
646-7616
777-7792
www.horizonpropertiesguam.com Over 35 years of experience 10 CasaGuam December 2014
Principal Broker
ABR, CRB, CRS, EPRO, NCP, SFR, NARPM, MVA REP
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Real Estate Spotlight
Set Back Requirements By Kim Anderson Young setback requirement refers to the distance from the property line to the building or structure located on the lot. It can also apply to the distance from a street or road to a structure; or the distance from a natural feature, such as a river, lake or shoreline to an improvement located on the lot. Setbacks are established to promote well-planned communities and to provide for public access, utilities and public enjoyment.
A
Setbacks can be set by federal or local government zoning laws, as well as by subdivision covenants. On Guam, the Territorial Land Use Commission is responsible for zoning regulations and variances. Federal setbacks apply when the property is regulated by the federal government, such as government funded roadways o federal parks. Federal setbacks also apply to items such as mailboxes, which interestingly enough, have a maximum setback instead of a minimum setback. If a mailbox is set too far from the curb, the letter carrier may have to leave his vehicle in order to deliver the mail. A few examples of Guam’s setback requirements include: • Distances from the ocean or river to a house • View corridors so as not to block ocean or river access • Distances from a septic system to the lot line • Distance from a septic system to the aquifer that provides our drinking water Residential setback rules are set by both the Guam zoning law AND subdivision covenants, with the most restrictive covenant being the one that rules. Setback requirements vary according to the zoning and appropriate use of the property. Guam’s zone designations are: • R1 - One Family Dwelling Zone • R2 - Multiple Dwelling Zone • C - Commercial Zone • P - Automobile Parking Zone • M1 - Light Industrial Zone • M2 - Heavy Industrial Zone • H - Resort-Hotel Zone • S-1 - School Zone • Public Facility (PF) 12 CasaGuam December 2014
Different setbacks apply to each of the different zoning designations. For example: a standard residential setback would be 15 feet on the front, 8 feet on each side and 10 feet in the rear. A M-1 setback sets a minimum of 0 feet on the front, 8 feet on the sides and 20 feet on the rear of the property. Any decision to build should start with hiring a licensed Guam surveyor, who will ensure your setback distances will comply with Guam law! 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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Profile
Service to Many Leads to Gratification
By Arlene Taitague Taitingfong
A
“
Aiza Champaco OPERATIONS MANAGER PROPERTY MANAGER, REALTOR® HORIZON PROPERTIES
Her advice to others in the industry is to move forward. “Complacency can kill you; a business coach can help you move forward. For you to become better, you need to grow.” She added that you need to have immense focus. “If it is definitely your dream to help others to get their home - do it if you have the heart!” Her next goal is to become a Broker by February of next year. When she does take time out, she spends it with her husband, Brian, and their two girls, Alana and Akayah. “I love taking my kids to the bookstore. When we walk into any bookstore, it feels like Disneyland to us!” She also takes time for herself. “I do my best to find some time alone and use that as my time of reflection; reviewing my goals, looking back at my week to see how I could’ve handled issues in a better way.” In the end, she leaves off with this advice, “Teachers and mentors are there to guide you. In the real world, your success lies within you.”
“We like this magazine because it offers a wealth of info rmation from escrow and property management to furniture and pest control. I also enjoy reading articles from my real estate colleagues!”
14 CasaGuam December 2014
“
Aiza Champaco has come a long way from when she first started in real estate. She initially wanted to become a social worker because she enjoys helping people. But as fate would have it, a close friend introduced her to Maria Miller, Principal Broker at Horizon Properties, Inc., a new company at that time. It wasn’t long before she accepted the position of Broker’s Assistant with Miller’s company. From there, she learned the legalities of homeownership and how to manage rental investments. With these tools tucked under her belt, she was able to help develop the new business. That was eight years ago. She is now their Operations Manager, Property Manager and REALTOR®. “My broker has over 35 years in real estate experience, so I got a good head start. It’s one of the best decisions I have ever made,” expressed Champaco. Her skill set has grown since then, along with the company. She continues to educate herself through training, reading, and posing questions. She also invests in herself by having a business coach. According to Champaco, a business coach or business mentors are good to have. They have previous experience and are able to guide one through thinking and action processes. “Sometimes they tell you things you don't want to hear, but need to hear them. It’s a blessing.” She learned that you can become anything once you put your mind to it. She added, “Focus on your strengths; your God-given abilities.” She explains that her typical day starts with talking to God about what is in store for the day. Then it’s off to the office where planning and organization keep the company moving forward. The office has grown from 4 employees to 10 since its early beginnings. “I like to build and be futuristic. I’m also planner, but remain fluid,” she said as she explained how she handles the daily operations and property management duties. In this field, anything can come up and you need to be flexible. Her daily goal is being able to contribute to the economy and making a difference in all aspects. One of her favorite quotes is “service to many leads to gratification.” This is something she follows, not only in office duties and among her staff, but also when she is in REALTOR® mode. Her initial wish to help others achieve their dream is strong, and helping them attain their dream of home ownership is even stronger. “I get to serve people from all walks of life,” said Champaco excitedly. “I look at how I can make a difference in someone’s life.”
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From the Experts
Recycled Furniture A Story in the Wood Recycled furniture is a growing trend around the world. Our company is one of the few, if not the only furniture store on Guam, to carry a large stock of this type. Recycled furniture has history behind it and a story to go along with every piece. We first started bringing in recycled wood furniture from Northern China. The owner of the furniture factory would scour the countryside and find old, solid, wooden doors in many sizes, some of which still had their welcome signs painted on them. These doors were discarded as they were being replaced with doors made of glass or some sort of metal. The doors were collected and taken back to the owner’s factory and refitted into new cabinets. We loved them, but were unsure how customers would feel about them. The old and the new somehow worked, and it became one of our most popular pieces of furniture. Not only did the furniture have a story, but helped in the bid to recycle the world’s diminishing wood supply. We then found that recycling of old wood was happening in Indonesia. Next to tourism, fishing is one of their main industries. Up and around Java, brightly colored teak fishing boats can be seen gracing the waters; the fishermen spending days at a time bringing in their catch both for local & foreign markets. After many years, the boats that were either too expensive to repair or were no longer seaworthy, were discarded. Piles of these colored relics could be seen rotting all over Indonesia. A very savvy European entrepreneur decided he could make something from these discarded boats. He encouraged the fishermen to bring their old boats to him. He paid them a small stipend that allowed the fishermen to put a deposit on a new boat and feed their families for a couple of months, allowing them to go back to fishing — the only industry they had ever known. It was a win/win situation for all concerned. Carpenters & woodworkers then carefully set about disassembling the boats and using it to make furniture. They made dining tables, coffee tables, chairs, cupboards, and benches. In some cases, they would use the smaller boats and cut them in half to make unique items such as wine racks & shelving units. The furniture is heavy & rough, but all of the old colors are kept intact, restored & cleaned. Like anything, there are now copies of this furniture springing up all over Bali. It might be hard to tell that they are copies because they try to make the wood look damaged by painting and 16 CasaGuam December 2014
By Judith Mosley
sanding it several times to look beaten up by the sea. This process takes a lot of work and makes the fake boat furniture the same price as the genuine boat furniture. You can distinguish the difference because the fake boat furniture has a clean, neat appearance, and is often heavily glossed to make it look “new and polished”. Keep in mind the fisherman & their families do not benefit from this “look alike” furniture in any way. It is the manufacturers who do. Currently, teak trees in the forests of Indonesia are at an all time low. Indonesia has found that they have used more teak than they are growing. Not only has the price for teak wood doubled, it is running out fast and a lot of furniture is now being made from mahogany. It will take years and years to build up the Teak forests again. Let’s continue to do our part for the world’s vanishing forests, while helping our neighbors across the waters with their economic cycle. Be mindful of “copy cat” furniture. Be knowledgeable about true “recycled” wood furniture. True recycled furniture is unique, top quality and one-of-a-kind finds that enable you to release the story in the wood.
About the Author Judith Mosley is the owner of Dragonfly Furniture & Decor. She travels to China & Indonesia on buying trips frequently. For more information on recycled wood furniture, you can contact her at 649-3339.
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H o w To D . I . Y.
Home Safety Tips for the Holidays By Arlene Taitague Taitingfong ecorating for the holidays is always fun. Children (at any age) appreciate the festive decor of the season. The lights, the trees, the ornaments, the smell of holiday treats freshly baked, and family gatherings, all surround this time of year. It can also be a stressful time too, with is the long lines at the cash register and the bumper-tobumper traffic. You might not be able to remove the stress, but you can alleviate it. Make sure you give yourself enough time to shop for gifts and meal items. Don’t rush out to the stores last minute! As for decorating, keep your home safe with a few tips to remember, courtesy of G4S Security Systems (Guam), Inc. and the National Safety Council.
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Decorating Safety • Never use lighted candles near trees, boughs, curtains/drapes, or with any potentially flammable item. • Wear gloves while decorating with spun glass “angel hair.” It can irritate your eyes and skin. A common substitute is non-flammable cotton. • When spraying artificial snow on windows or other surfaces, be sure to follow directions carefully. These sprays can irritate your lungs if you inhale them. • Small children may think that holiday plants look good enough to eat, but many plants may be poisonous or can cause severe stomach problems. Plants to watch out for include: mistletoe, holly berries, Jerusalem cherry and amaryllis. Keep all of these plants out of children's reach. • When displaying a tree, cut off about two inches off the trunk and put the tree in a sturdy, water-holding stand. Keep the stand filled with water so the tree does not dry out quickly. • Stand your tree away from heat sources. Make sure the tree does not block foot traffic or doorways. • Avoid placing breakable tree ornaments or ones with small, detachable parts on lower branches where small children or pets can reach them. • If you use an artificial tree, choose one that is tested and labeled as fire resistant. Artificial trees with built-in electrical systems should have the Underwriters Laboratory (UL) label. • Only use indoor lights indoors (and outdoor lights only outdoors). Look for the UL label. Check lights for broken or cracked sockets, frayed or bare wires, and loose connections. Replace or repair any damaged light sets. • Use no more than three light sets on any one extension cord. Extension cords should be placed against the wall to avoid tripping hazards, but do not run cords under rugs, around furniture legs or across doorways. • Turn off all lights on trees and decorations when you go to bed or leave the house. Unplug extension cords when not in use. • If using a natural tree, make sure it is well watered to avoid dry branches from catching fire from the heat of light bulbs. 18 CasaGuam December 2014
• When displaying outdoor lights, fasten them firmly to a secure support with insulated staples or hooks to avoid wind damage. Never nail, tack or stress wiring when hanging lights and keep plugs off the ground away from puddles. Hosting and Food Safety • When preparing a holiday meal for friends and family be sure to wash hands, utensils, sink, and anything else that has come in contact with raw poultry. Keep in mind that a stuffed bird takes longer to cook. • Never defrost food at room temperature. Thaw it in the refrigerator, in cold water or in the microwave. • While doing holiday cooking, keep your knives sharp. Most knife injuries occur due to dull blades. • Use a clean food thermometer to cook foods to a safe internal temperature before serving. • Avoid cleaning kitchen surfaces with wet dishcloths or sponges. They easily harbor bacteria and promote bacteria growth. Use clean paper towels instead. • When reheating leftovers, bring the temperature up to at least 165°F to eliminate any bacterial growth. • Refrigerate or freeze leftovers in covered shallow containers (less than two inches deep) within two hours after cooking. Date the left overs for future use. • Being a smart party host or guest should include being sensible about alcoholic drinks. More than half of all traffic fatalities are alcohol-related. Use designated drivers, people who do not drink, to drive other guests home after a holiday party. • Minimize your errands. The traffic gets worse as the holidays approaches and who wants to be stuck in traffic? It would be best to make a list and check it twice before you go shopping to ensure you can get what you need in less number of road trips. Securing Your Home for the Holiday “Don’t forget to secure your home, especially during this time of the year,” emphasized Teresa Sakazaki, Director of Sales & Marketing for G4S Security Systems (Guam), Inc. She advises to place lamps and a radio or TV on timers so that they can automatically turn of or on if you are not at home. Burglars, if they are casing your residence, will find it difficult to see if someone is home or not. Although it is nice to open your curtains to show off that beautifully decorated tree, you might want to hide the gifts and place them under the tree on Christmas Eve or Christmas Day. She added, “Don’t tempt fate and no bragging. Take a reserved approach when displaying expensive decorations and gifts!”
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Curb Appeal
How to Buy Furniture By Arlene Taitague Taitingfong t doesn’t matter where I go, whenever I walk into a furniture store, my eyes are darting here and there, not quite sure what to focus on. It’s like being a kid in a toy store! Everything is so pretty, bright, and shiny! (Note to self: make sure you remember this feeling when bringing young children into a toy or candy store.)
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When you walk into a furniture showroom, you might not know where to start looking. You may have the intention of buying a bedroom set, so why are you looking at the dining tables? There is a simple process you can follow so you don’t get off track. Jacqueline Dungca, General Manager and Interior Designer for Mirage Furniture, gives some insight when selecting furniture. Dungca has been in the furniture business for over 25 years and has come across every kind of client. Knowing her clientele is part of her success. “We carry every type of furniture style from modern to contemporary to classic,” she reported. “But there are some people who still like the traditional styles.” If you are not sure how to go about it, I suggest you follow the same criteria Dungca applies when she does her furniture buying. “There are four things I look at as a buyer. F-O-R-M.” Below is a breakdown of the acronym.
F = Family Determine what makes up your family. Are you a couple? Single? Do you have children? How many? Are the children young or teenagers? Asking these questions will help you determine the type of fabric you will want your furniture to have as well as the function of the furniture. For example, a couple wouldn't mind getting modern style furniture because there are no little ones to worry about getting hurt with certain contours of the furniture. If you have a family of toddlers, your need for durability and functionally will play a big role in the selection process.
O = Occupation If you are a single businessman who travels often, you might want to come home to either a nice comfy sofa or a trendy, contemporary refuge. If you are a two income family with kids, its best to select furniture where dirt and spills can be cleaned off easily, as you might not have the time or strength to handle the industrial clean ups of delicate materials. 22 CasaGuam December 2014
R = Recreation Is your family the “rough and tumble” type that bring the activities of the outdoors, inside? Maybe you like to sit in a nice recliner and ease into a good book with soft music playing in the background. Figure out HOW you want to use your furniture.
M = Money Note that this is the last item in the acronym. Dungca says she goes through the first three letters so that she can determine what furniture styles she can show the client. For some, money may be the first thing someone may think of asking a client, but not Dungca. It is important to find that piece of furniture that is accommodating to the client’s needs. It’s best to have a budget and stay with it. A good salesperson will work with what you can afford and also have other financing options for you.
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W h o Ya G o n n a C a l l ?
Del Ca Carmen Investment, LLC We set th the standards high for residential rentals
Apartments • Condominiums • Homes A
Sheila Vega
Assistant Property Manager Interior Designer
Tel: 646-7748 Fax: 646-5929 sheilavegadci@gmail.com
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Classifieds Commercial Rentals
MongMong-Toto-Maite
Dededo
Economical studio unit. Completely renovated. All ceramic tiles, new cabinets, new split A/C, typhoon shutters & double paned windows. Call Deanna @ 688-2855.
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!
Piti
Residential Sales
2BR/1BA Apartment. Close to Port, Naval Station, Polaris, Park and Beach. Ocean Breeze Apts. Max two tenants. $650 unfurnished. (Price does not include utilities) (Right across the beach!) Call 649-8265 or 727-8265
Barrigada
Two 2BD hse. 1 Full Concrete & 1 semi concrete in one lot. $96K. Negotiable. Call 727-4985.
Large 4BR/2Ba 1800sqft. House Only 248,000 637-7165 / 688-0887 / 689-3333
Tamuning
Talofofo
Dededo
Asan
Ipan home less than one mile away from the beach and golf courses. 2 story, 4BD/3BA plus studio. Call 707-6923/4 for more information.
Nimitz Hill, 2BD apartment including ocean view. $950/mo. Modern upgraded, all ceramic tiled, typhoon shutters. Call 687-6900
Tamuning
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
Sunrise D Condo. Large 2BD/2BA. Pool. Very nice. 1,000 SqFt. $1,000/month. Call 637-7165/688-0887/689-7700.
Villa Rosario Condo: 3bd 2ba Excellent Condition, Pool, Tennis Court, Play Ground. Good Location $160,000.00 Call 637-7165/688-0887
NEWLY BUILT TAMUNING VILLA HOME 3BD/2BA, 2 carport, fully fenced, basic appliances included (split AC, ref, stove, washer, dryer, heater, drain disposal) $2,500/mo. Call 727-7670 or 988-7671
Las Palmas Ph3. 3rd Floor. Large 3BD/2.5BA/2Den. Pool. Excellent Condition. $255,000. Call 637-7165 689-3333/688-0887
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 850 sq ft., video store or retail business. Asking $850/mo. Please call ANGIE @ 727-2228
Residential Rentals
Barrigada 2b/1b, near Subway with water $830/mo. Please call 637-7165 / 688-0887 / 689-3333
Dededo 3BD/2BA, split type AC all rooms, typhoon shutters. 168 B Rizal St. $1,200/mo - negotiable (Sec 8 OK) Call 637-0949/686-6094/929-5310
San Vitores Terrace Condo-2bd/1ba, 3bd/2ba - walking distance to beach, rest/bars, church. Asking $950 $1800/mo. CSR- PB 649-6088
Harmon
Tumon
3BD/2.5BA Townhouse. Pool. Security. Tennis Court. $1,900/month. Call 637-7165/688-0887/689-7700
Blue Pacific Lattice Condo. 2bd/1ba. Backup generator, securted entry, pool, mailbox, room A/C units, stove/oven, refrigerator. Call Deanna @ 688-2855.
Large 4BD/2.5BA. Single home. Pool. Security. Tennis Court. $2,450/month. Call 637-7165/688-0887/689.7700.
Yigo
Harmon Ct. Townhouse. 3BD/2BA. Sec. 8 OK. $1,200/month. Call 637-7165 689-3333/688-0887
Single Home. Excellent Condition. 3BD/2BA. Large yard. Good location. $1,400/month or for sale $200K. Call 637-7165/688-0887/689-7700.
Pacific Gardens. 1st Floor. Pool. Security. 1BD/1BA. $47,000. Call 637-7165 689-7700/688-0887/689-3333. 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
Talofofo Two homes for sale! House 1: Full concrete, 2 bed, 1 bath House 2: Semi-concrete, 2 bed, 1 bath Asking $94K for both. Call owner at 727-4985
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 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 4BD/3BA 2 carport on a half acre corner lot. Fully fenced. Atis St. Ch La Chanch Yigo. $265,000. Call Joe. 488-4563.
Land for Sale Yigo
Ordot-Chalan Pago Chalan Pago 2bed 1bath SFD for sale. 1169sq.m lot Asking $119K. Call Karen 988-1883
5,545 SQ/MTR Off Rt 1, past Hillside Markiet. Water/power on site, paved access. $300K-negotiable Call 988-7671 or 727-7670
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Closing
Message from the President Louisa Flores-Wessling 2014 President
Message from the Executive Officer Peggy Araullo Llagas Guam Association of REALTORS®
Guam Association of REALTORS®
Recently, members of the Guam Association of Realtors® (GAR) and I, joined nearly 17,000 Realtors® and industry experts from across the country at the 2014 Realtors® Conference & Expo held in New Orleans during November 7th through the 10th. This year’s conference theme, “Realtors® in Full Swing,” encouraged us to take full advantage of new technologies, tips from top industry professionals and the opportunity to make new contacts from across the globe. We had the chance to hear from real estate experts and leadership featured talks and panels throughout the week, including from the U.S. Department of Agriculture’s Rural Housing Service Administrator Tony Hernandez, Federal Housing Finance Agency Director Mel Watt, and Double Down: Game Change 2012 authors and political commentators Mark Halperin and John Heilemann. As the leading voice for real estate, Realtors® constantly immerse themselves in the issues and trends affecting our industry. During the conference, Realtors® advocated solutions to important legislative, regulatory and market issues that face the industry and home buyers and sellers. Realtors® are dedicated to keeping real estate issues a priority on the nation’s agenda as the market continues its recovery, as well as helping clients within our own island communities on Guam. Throughout the week, we participated in workshops, forums and education classes to help prepare ourselves, own businesses and our clients for 2015. This is one of the many ways Realtors® raise their professionalism and skills and gain specialized knowledge and expertise. During the conference, Chris Polychron, a Realtor® from Hot Springs, Ark., was installed as the 2015 NAR president. He said, “ In 2015, we need to keep important homeownership issues, including protecting the mortgage interest deduction and increasing access to affordable financing, a priority since these issues affect all Americans, not just those who own a home or property. Homeownership is the American Dream for many people in our country, and Realtors® will continue to fight to ensure that every person who is able and wants to own a home has that opportunity.” This objective rings same and true for Realtors® on Guam. Always contact a Realtor® when it comes to buying, selling or leasing real estate! GAR members also had the opportunity to explore the newest technologies and innovations that are transforming the real estate industry. Over 350 exhibitors showcased the latest products and services available to the industry during the conference’s trade expo.
GUAM ASSOCIATION OF REALTORS® 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 28 CasaGuam December 2014
Fair Credit Reporting Act The Institute of Real Estate Management (IREM) has just learned of changes that were included in the 1996 Budget Bill that amend the Fair Credit Reporting Act (FCRA). These new provisions were just a small part of the bill, but are very important to what is required of property managers. Up until now, property managers rejecting tenant applicants based on credit information have simply been required to advise the applicant against whom the adverse decision was taken of the name and address of the agency providing the information. Effective September 30, 1997, more detailed information must be provided to a rejected applicant. Also effective September 30, 1997, consumer credit reporting agencies are required to provide notice to persons who buy consumer information form the consumer reporting agency of the user’s responsibility to notify applicants regarding the use of that information in making the adverse decision. The following letter covers the additional information required to be provided by users of credit reports making adverse decisions. Please review it carefully and adapt it to cover any unique circumstance of your own tenant evaluation process. You may not rely on the letter as legal advice or as assurance of compliance with the FCRA; consult your own attorney. MODEL LETTER Dear Tenant Applicant: Our decision to not (rent/lease space) to you was based wholly or in part on a credit report. We are hereby informing you of certain information pursuant to the Fair Credit Reporting Act, 15 U.S.C. 1681, et seq., as amended by the Consumer Credit Reporting Reform Act of 1996 (Public Law 104-208, the Omnibus Consolidated Appropriations Act for the Fiscal Year 1997, Title II, Subtitle D, Chapter 1). 1. We have denied your applications based on information contained in a consumer credit report obtained from the following consumer credit reporting agency(ies): [Insert name, address and toll-free telephone number of all consumer credit reporting agencies that provided information] 2. Pursuant to Section 615 of the Fair Credit Reporting Act, we are notifying you that the above-noted agency(ies) only provided information about your credit history. It took no part in making the decision to reject your rental application, nor can it explain why the decision was made. 3. You have certain rights under federal law, as explained in more detail in paragraphs 4 and 5 below. Pursuant to the Fair Credit Reporting Act, you have a right to obtain a copy of your credit report, dispute its accuracy, and provide a consumer statement describing your position if you dispute the credit report. If you believe your report is inaccurate or incomplete, you may call the consumer credit reporting agency at its tollfree number listed above or write to it at the listed address. 4. Pursuant to Section 612 or the Fair Credit Reporting Act, you have the right to obtain a free copy of your consumer report from the consumer credit reporting agency(ies) listed above. You must request the copy within 60 days of the date you receive this letter. 5. Pursuant to Section 611 of the Fair Credit Reporting Act, if you dispute any of the information in your report, you have the right to put into your report a consumer statement of up to 100 words explaining your position on the item under dispute. Trained personnel are available at the consumer credit reporting agency to help prepare consumer statements. Sincerely, XYZ Management Company. -National Association of REALTORS®The Guam Association of REALTORS® shall remain your leading advocate for promoting and protecting homeownership on Guam. Ask if your agent is a REALTOR®. Visit our website at www.guamrealtors.com
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