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CONTENTS
Let ter from the Editor Letter from the Editor
Departments 4
Market Report Here We Go!
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Feature Fall in Love with Your Home—Again!
February 2016 • Vol. 9 • No. 02
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Real Estate Spotlight Have Notary? Will Travel
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Profile Tom Roberto From Cars to Buildings–
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
A “Cool Business”
[ Display Advertising ] Evelyn Trinidad
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From the Experts To Love & Protect from This Day Forward
[ Traffic/Circulation ] Carol Aperocho
[ Production Manager ] Mark S. Burke
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How to D.I.Y. Ideas on How to Create Wall Art
[ Graphics & Layout ] Mark S. Burke Edwin E. Valencia
[ Website Development ] Edwin E. Valencia
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Curb Appeal Improve Your Relationship With Your Home
25
Who Ya Gonna Call?
28
Closing
[ Editorial Contributors ] Anthony R. Godwin Yuka Oguma Karen Kasperbauer-Perez Arlene Taitague Taitingfong Kim Anderson Young
Arlene Taitague Taitingfong
Bueñas Guam! We are into the second month of the year which is well known as a month we celebrate LOVE! According to the Merriam-Webster dictionary, love is defined as a feeling of strong or constant affection. It’s no surprise that our theme for February is Fall In Love With Your Home! We have a few articles that will hopefully rekindle that feeling. Our Feature addresses ways you can fall back in love with your home. Read what you can do to give your home the needed TLC it deserves. Tom Roberto, our Profile this month, is someone who makes it his business to keep you cool. Read how a simple idea blossomed into a successful business. Our From The Experts writer this month is Yuka Oguma, Assistant General Manager of Guahan Insurance Services. She shares the various coverages of insurance and how it can keep your beloved home and your loved ones protected. Karen Kasperbauer-Perez joins us again and gives a list of ways we can improve our home’s frontage. Read about it in Curb Appeal. We also have your informative monthly submissions from Kim Anderson for Real Estate Spotlight, and Anthony Godwin for the Market Report. Guam Association of REALTORS® president, Deanna Palmer, gives us an update on how TRID can save us time in Message From GAR; while Peggy Illagas, Chief Executive Officer of GAR, has information on Fiduciary Duties. We also welcome ideas or topics you are interested in seeing. Please let us know at editor@yellowpagesink.com. If you are interested in writing on a few topics, or have candidates for our Profile page, please let us know too! And remember, House + ❤ = Home
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
Here We Go! e are off to a great start in 2016! Two homes have sold/closed during the first month of the year for over a million dollars! A home along the Paseo De Oro cliff line closed for $1,628,000 while another along Father Duenas near the hospital closed for $1,000,000. The Multiple Listing Service (MLS) reveals there are 34 single family and condominium/townhouse type properties that were marked pending sale just after the first of the year, including a condominium unit along the beach in Tumon asking $1.4 million.
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More MLS highlights An M1-Light Industrial Zoned property near the Pacific Towers Condominium sold closed for $400,000 just under two weeks into the new year... that works out to about $74.00 per square meter for the 5,430 square meter lot. A four-plex located in Mong-Mong-Toto-Maite sold for $390,000 or approximately $97,500 per unit just past the first week of the year. There have been 45 condominium/apartment/townhouse style units rented so far in 2016 with an average monthly rent of $1,457.00. Days on market was a quick 55 days for these units. During the same period 26 single family homes rented for an average rent of $2,170.00 monthly. Days on market was 66.
Final End of Year Report There were 161 condominium/townhome sales in 2015. The average sales price was just shy of $200,000 at $199,337.00 and market time was 131 days Total sales volume was $32,093,299.00 Buyers scooped up 293 single family homes in 2015 at an average price of $299,871.00. Market time was slightly under six months at 172 days. Total sales volume as $87,862,345.00. List to sale ratio was slightly over 4%. Rentals commanded the headlines with a total of 1,773 single family, condominium, townhome and apartment units rented in 2015. The average rental for single family homes was $2,262.00 monthly. Days on market was 67. For condominium/townhome and apartment units the average monthly rent was $1,574.00. Market time was slightly than single family units at 60 days. All information included in this report was provided by the Guam Association of REALTORS Multiple Listing Service. Information for the month of January 2016 was for the period January 1 through January 20, 2016. Information for Year 2015 reflects all activity for the full year for the categories stated. Information deemed reliable but not guaranteed. 4 CasaGuam Februar y 2016
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Market Repor t
Market Snapshot 2015 Final End of year Statistics By Anthony Godwin
Total MLS Volume for 2015: $297,202,174.00 Condominium/TownhomesFor Sale Number Sold: 161 Average Sold Price: $199,337 Average Days on Market: 131 Total Volume: $32,093,299
Condominium/Apartment/Townhome Rentals Number Rented: 1079 Average Monthly Rental: $1,574 Average Days on Market: 60 Total Volume: $1,698,760 Â
Single Family Home Sales Number Sold: 293 Average Sold Price: $299,871 Average Days on Market: 172 Total Volume: $87,862,345
Single Family Rentals Number Rented: Average Monthly Rental: Average Days on Market: Total Volume:
694 $2,262 67 $1,567,273
Disclaimer: All information provided is from the Guam Multiple Listing Service (MLS) for the period January 1, 2015 through December 31, 2015. Prior year comparison data is for the same period.
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Feature
Fall In Love With Your Home, Again!
By Arlene Taitague Taitingfong
ome is where the heart is. I pondered this as I looked around my own place. After living in my apartment for over a year, I asked myself if I still like it or love it? My place is a pretty good size in comparison to others I have seen or lived in. It has great amenities too. Yes, I really do like it. On that note, I have to add that my place is adorned very simply. I have minimal furnishings and the walls are bare and could use some kind of artwork or adornment. It’s not that I don’t have anything to place on the walls. I do.
I have decor, accessories and artwork that I have bought over the years. I figure I would save them for when I become a homeowner - someday (not sure when). And then it hits me! I realize that my status as a renter is preventing me from actually using my collection of niceties. I have been “living” in my apartment, and not loving my home. I’m thinking some of you are in the same situation. You don't need to be a renter or a homeowner to experience the feeling of non-committal to your house or apartment. You need to fall in love with your place (again). Remember when you first moved in? You were excited when you placed the couch in its corner, rolled the carpet out in the bedroom, placed the lamps on the end tables, and everything else fell into its own spot easily? The first step to recapturing that feeling is to fully commit to enjoying where you are living. If you find that you are not feeling the vibe, look around and identify what you enjoy or appreciate about your place. Ask yourself what drew you to it. Was it the great view? The spacious living room? Perhaps is was the large yard in the back or the fact that a wonderful cool breeze passed through every time you opened the patio doors? Whatever it was, it probably swayed your decision to move in. Here are a few ideas to get you started on the road to loving your home again. 8 CasaGuam Februar y 2016
Get ideas. If you are stumped on how you would like to change your room, I suggest looking at samples. I love looking at pictures in decorating magazines and websites. They give inspiration and spawn a slew of ideas. You don’t have to get the exact item as in the photos either. Use the pictures as a guideline.
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Feature Bring in nature. You can use silk plants, but I find that live plants are a great way to bring “life” back into your home. You don't have to use plants either. It really can be anything reflecting nature like a rock terrarium, a small fountain, or a collection of seashells. Nature has a calming effect on humans. Decorate your walls. Sometimes, all you need is to put up a few pieces of artwork. It breaks up the monotony of the living area. Please don't go and buy any old thing for the sake of having something on the walls. Be selective. You don’t have to have something on every wall either. Create a wall of your favorite things. Decorated walls reflect your personality. Use candles. Candles can be placed in many areas of your home like the living room, bedroom and bathroom. They add color to an area, and when lit, create a cozy effect. I love scented candles. They give off a nice fragrance and puts me in a relaxed state. Change out the window treatment. Sometimes just changing out the curtains to another color will do. If you have the budget, opt for nice blinds that compliment your color scheme. Declutter. Ah, life was good when you moved in. Everything was in place, at least most of it, but time has passed and life happened. You tire of your room, so you no longer make your bed everyday. Your bathroom doesn't excite you anymore. Perhaps you even have accumulated piles of “stuff ” because you lack storage for them. If it comes to the point where your piles of “forgetme-nots” turned into “Mt. Forgotten”, it is time to declutter every room of your home.
The main idea is to surround yourself with things you love. Remember your home is your refuge and your retreat from the world. Make it a place that you want to be in, just like the first time you stepped into it. Ultimately, you will fall back in love with your home and not just live in it.
Find storage for seasonal decorations. I recommend the plastic containers with lids. It will protect what is inside and is easily stackable. If you have a small space or limited storage areas, the containers can be stacked up and placed in your closets or garage. Clear your closets of unwanted clothing. Donate any clothes you don’t fit into or is older than your grandkids or adult children. I like vintage clothing, but having stuff dating back to the 80’s have got to go! Get over this hurdle. If you are lucky, it may be the only thing stopping you from moving forward. Once this is completed, you will experience a sense of accomplishment and gain more floor space. Now the fun part can begin! Refresh what you have. Take that old sofa and give it a new look by having it reupholstered. If you are on a budget, a simple couch cover will work. Add a few bold colored throw pillows and “voila!”, you have a fresh, new look. You can refresh your bedroom by changing out the bedding with covers or quilts with color that pops the room! Or go classic with a nice duvet. Upgrade bathroom fixtures with modern ones. It’s an easy and affordable way to give it a facelift without splurging too much. You can do this for your kitchen as well. CasaGuam.com 9
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On The Cover
Reshaping the Northern landscape
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ne of a kind commercial complex in the heart of Yigo. Rent is $1.80 per square foot and $0.60 for estimated CAM total of $2.40 per square foot. Owner will only pay commission on the base rent. Aircon is not provided by the owner. Units are now subdivided into five slots ,and only 3 more available. Your client can take the 3 units with the total area of 2874 square feet.
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Real Estate Spotlight
Have Notary? Will Travel! For buyers and sellers that reside in a non-US country, a big hurdle to closing Guam real estate transactions is the requirement that they must sign original documents, and have them notarized at the US Embassy in the country of their residence. Not only do they have to make an appointment in advance, but many times the embassy is located hours, if not a day’s travel, from their home town. Add to that the burden placed on the person signing if they are in poor health, or are caring for a loved one in poor health, or simply cannot get enough time away from their work to make the trek. Recently, the Guam Legislature considered this hardship and with the legislation below, have authorized Guam notaries public to travel to a remote location for the specific purpose of notarizing a real estate document for recording on Guam. The full text of the law follows: Public Law 33-101, passed by the legislature on November 19, 2015 and signed into law by acting Governor Ray Tenorio on December Extended Jurisdiction Authorized. As authorized by the Attorney General of Guam, a Guam commissioned notary public residing on Guam shall be authorized to perform notarial acts in
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By Kim Anderson Young
foreign countries for Guam residents or individuals requiring a document to be notarized for and recorded in Guam in a manner strictly compliant with this Chapter. The accomplishment of all requisite notarial journal entries and the compilation of all other mandatory records shall be adhered to, and the journal and all requisite records pertains to the notarial act shall subsequently be maintained on Guam as provided pursuant to this Chapter. the only documents authorized to be notarized in a foreign country shall be limited to those relating to real estate transactions, and must be recorded at the Guam Department of Land Management or any other government agency as may be required.� From the elderly seller living in the remote provinces of the Philippines without the ability to travel to the US Embassy in Manila, to the overworked Japanese or Korean executive for whom a day long trip to Tokyo or Seoul does not fit into their schedule, this new law will provide a welcome alternative to closing their Guam real estate transactions! About the Author Kim Anderson Young, president of Security Title, has over 30 years of experience in the real estate industry. Contact her at kimŽsecuritytitle.net or 647-8100.
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Profile
From Cars To Buildings – A “Cool” Business
Tom Roberto GENERAL MANAGER EAST ISLAND TINTING AND NORTH ISLAND TINTING
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Tom Roberto is an island boy at heart. He’s good-natured and friendly. As general manager of East Island Tinting, he has an energy that motivates his employees and anyone else who comes in contact with him. His business success is a reflection of that energy. It started when, at age 13, Roberto watched his older brother Manet tinting cars with his friends. It looked like fun and he was also into cars, so he decided to give it a try. This led him to take automotive courses at GCC where he graduated in 1987. He later moved to Hawaii and took a job in the Auto Paint industry and General Mechanics. While there, he and a few of his brothers helped start a tint shop with one of their Hawaiian friends, called Kool Glass Tinting. Soon after, the Roberto brothers decided this business was something they could do on Guam. In 1989, they returned to the island to open their own tint shop and East Island Tinting opened its doors in May 1990. Today, they have diversified their market to include residential and commercial properties, including the federal government. They still tint cars, but they have found a niche for their services beyond what they initially expected. 14 CasaGuam Februar y 2016
By Arlene Taitague Taitingfong
The “Green” movement helped them transition into this new market of providing tint films for residential homes and commercial buildings. Roberto explained how people started to look for ways to save power. “The public saw how window film helps reduce power consumption,” he said as he elaborated on his tactics. “We participated in many home expos over the years to educate the island about how to save on power while keeping your home cool.” “I like to see the joy in peoples’ faces when they see what we have done,” Roberto said in reference to the car tinting side of the business. “Some really see what a difference it actually makes.” He also gets the same response from businesses when they share the savings they see after window film installation is completed. Roberto pursued additional training and obtained accreditation through the International Window Film Association (IWFA). The association is an educational resource where industry professionals can learn more about the benefits of window films. Roberto has earned accreditation as a Solar Control Specialist, a Safety & Security Window Film Specialist, and an Automotive Window Film Specialist. His latest accreditation is Advanced Solar Control Specialist. Roberto is the only person on Guam who possesses this level of accreditation. His achievements have placed East Island Tinting in the position of being the only tinting business on Guam qualified to participate in projects that the federal government bids out. Along with their contractor’s license, this places them in a very advantageous business position. They have come a long way from being just a car window tinting company. For the most part, Roberto has been busy with the residential/corporate side of the business. At the time of this interview, he had just finished a project at one of the hotels, and was ready to start on another window tinting project at another one. If you want to see Roberto and his team’s handiwork, take a look at the windows of the DNA and the Bank of Guam buildings. They also worked on the Hyatt Regency Guam’s large lobby windows, the skylight at the Micronesia Mall, the panoramic windows of the Executive Lounge of the Dusit Thani Guam, as well as a several federal buildings. One of the medias that Roberto uses is CasaGuam magazine. “I like the fact that it is specific to the homeowners. We use it to find out who we can see for our residential and commercial side of our business. We have window filmed many homes and businesses on Guam.” His shares this advice to those who are looking to grow their business or get into a specialized field. “Patience. You need a lot of it. Don’t think that you will learn this in a short period of time. After 25 plus years, I am still learning.”
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From the Experts
To Love & Protect From This Day Forward The two of you met through your real estate agent, or maybe you crossed paths through a real estate magazine. Regardless, you replay that first meeting over and over in your mind—the first day you saw your dream home. You remember every detail from the white picket fence to the way the lawn smells. You recall the homey neighbors who you felt like waving at as you drove into your soon-to-be new home. The one that you have been looking for, dreaming about, and working so hard to possess. Now that you have fallen in love with this new place and are going through the courtship of documentation for ownership, it is time to find the right protection that will endure a lasting relationship. Here are three key components that should be your guide to selecting your insurance.
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Insurance cost depends on the information you provide to your agent. In order to get the most accurate pricing, you need to look into the details. Some components of your home may result into major savings. Age of the house, Value of the house, Deductible, Roof Type, Location, Size of your Home, and Payment Term are some of the details you may be required to provide. You would rather want your agent to be asking you questions involving some of the key terms mentioned above, so that he/she may quote you properly. If not, start asking them! Don't be ashamed to inquire what factors of the home they will be using as basis for the underwriting. After all, the underwriting determines the price tag of the premium. Ask your agent what type of discounts are offered for homeowner’s policy, and go down the list to see if you may qualify for any of them. Ask if there are some improvements or additions you can make on your home to qualify for additional discounts or a lower rate. Compare and see if this will save you some money in the long run.
By Yuka Oguma, B.B.A., A.I.S.
COVERAGE One of the main reasons you buy an insurance policy is for the coverage it provides. A homeowner’s policy covers more than just damage to the building. Other Structure: applies to other than the dwelling building, that are not attached to the dwelling. Storage sheds, detached garages, and outside kitchen are few examples. Personal Property: applies to the contents of the insured property that you own or use. Note that there are special sub-limits. Some items such as money, gift cards, jewelry, and firearms are subject to smaller sub-limits. Some items also have limitations for theft exposures. Additional living expense: apart from the property damage itself, if the residence is damaged so badly to a point of inhabitability and you and your family must live elsewhere until the home is repaired, it will pay for any necessary living expenses. Medical Payments to Others: expense to include reasonable charges for medical, surgical, x-ray, dental, and ambulance etc. are typically included in homeowners policy for a specified limit and under applicable conditions. Personal Liability to Others: If a claim is made or a suit is brought against you for bodily injury or property damage arising from a covered accident, it will pay damages and the cost of defense. Coverage details vary within the agencies. The cheapest home insurance is rarely the best choice. Adequate coverage is important as long as you are in this long term relationship.
CLAIMS Disaster strikes and your home is now needing some major repairs. The last thing you want to do is go to battle with your insurance agent. You are emotionally drained at this point; you do not need an additional quandary. All those years of paying your premium, but you never knew what you were paying for until this very moment when you dig through your files and look for your homeowner’s coverage forms. Before you bind your coverage with the agent, read through and make sure you understand what you are purchasing to avoid this predicament. Claims filing is when your insurance transaction reaches full circle. Choose an insurance carrier that has a superior financial rating. You want to choose a company that has the ability to fulfil its financial obligation with you - the policy holder. 16 CasaGuam Februar y 2016
About the Author: Yuka Oguma is the Assistant General Manager of Guahan Insurance Services, Inc. She has been in the insurance industry for five years. You can contact her at 475-1172
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H o w To D . I . Y.
Ideas On How To Create Wall Art
By Arlene Taitague Taitingfong
One of the many ways you can change a room is to create wall art. I checked out www.homedit.com and found an article with ideas on easy DIY wall art. Here are a few worth mentioning.
http://littlebirdiesecrets.blogspot.com/2011/ 03/canvas-map-wall-decor-g uesttutorial.html. The author has step by step instructions and pictures to help you along in this project. Check it out!
Glazed Wall Art.
Paper Silhouette Art.
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Here’s a project that is easy enough. You will need: 12x12 scrapbook Paper 12x12 Plywood "Pour-On" Glaze Spray Adhesive Glue Gun Ribbon Plastic Cups
Abstract Wall Painting. This project only needs three items and is very easy to do. The key is to make the design seem random. Don’t think about it too deeply. Depending on the size canvas you use, you can place your artwork anywhere in your home. You only need acrylic paint, the canvas and some 1/4” painters tape. Complete instructions can be found on www.thenewdomestic.com/210/03/weekend-art-project.
This project is more “personalized” because you take photos of friends and family and cut out their silhouettes out of black paper. You then arrange them in photo framed on white backgrounds. You will need: • Old photographs or a camera and printer to make new ones • Black construction paper
Canvas Map Wall Decor. This project might be a little more involved, but it is still easy to do. You need a large map, several canvases of various sizes, and possibly some spray paint (optional), and glue. Basically, you cut up the map. Cut sizes should match the sizes of the various Directions: Spray the back of the scrap- sized canvases. This is actually a pretty cool book paper with the adhesive and glue it DIY project. Full instructions are found on to the plywood. Next, set the wood on the paper cups. Mix the “Pour On” glaze very well, then pour it onto the paper, spreading it evenly using the back of a plastic spoon or popsicle stick. Let dry for a day or two. Flip your art work over and measure 6 inches to find the middle. Hot glue the ribbon on the back. Find the complete instructions on www.everycreativeendeavorblog.com. 18 CasaGuam Februar y 2016
• Scissors • Tape • An assortment of picture frames The look you are trying to achieve is that the frames/silhouettes interact with each other. Full instructions can be found on http://www.timeout.com/newyork/style-design/paper-silhouette-art. I think this is really great DIY project! There are many more ideas which you can find on http://www.homedit.com/15best-and-easy-diy-wall-art-ideas/ if you want to explore other wall projects. Get inspired and start your wall art this month!
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Curb Appeal
Improve Your Relationship With Your Home
By Karen Kasperbauer-Perez
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What on earth is curb appeal? Do we even have curbs on Guam? What does one do with a curb? Well, according to Investopedia (a reliable online source-from all accounts) curb appeal is defined as: The general attractiveness of a house or other piece of property from the sidewalk. This term is often used to sell or evaluate a piece of property.
What does curb appeal have to do with anything? Read on. Let me start off by saying I love, love, LOVE coming home! It starts with the curb appeal of my place. I love my contoured walkway that starts from the sidewalk with a manicured yard on either side. I love walking past the neat line of shrubbery to my tiled stoop and front door with sidelights. Did I mention I love my shrubs? They create a sort of “screen” of privacy while releasing a sweet smell, reminding me of why I love living on a tropical island. Plus, the more it rains, the more it produces little white fragrant blossoms. But beyond that lovely smell, and the meandering short walk to my ever welcoming door, what the eye first sees of any home IS curb appeal. It’s a feeling of “Ah, yes! This is the house for us. This will become our HOME”. At this point, you should have fallen in love with your home from the moment you drove up. If in evaluating your current relationship with your curb and yard, you find that you don’t get that same excited feeling as you once did, then it is time to re-evaluate your surroundings. It’s never too late to rekindle that old flame of love. Here are a few thoughts that could help you fall back in love with your home. The suggestions are not too pricey and can be locally procured and completed.
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Dress up your front door: Your home's front entry is the focal point of its curb appeal. Make a statement by giving your front door a blast of color with paint. Clean off any dirty spots around the knob, and use metal polish on the door fixtures. Your entry should also reflect your interior, so choose a swag or a wreath that reflects your personal style. Replace old hardware: House numbers, the entry door lockset, and an overhead light fixture are all elements that can add style and interest to your home's exterior curb appeal. If they're out of date or dingy, your home may not be conveying the aesthetic you think it is. These elements add the most appeal when they function collectively, rather than as mix-and-match pieces. Oiledbronze finishes suit traditional homes, while brushed nickel suits more contemporary ones. Create perfect symmetry: Symmetry is not only pleasing to the eye; it's also the simplest to arrange. Symmetrical compositions of light fixtures and front-door accents create welcoming entryways and boost curb appeal. Create an instant garden: Container gardens add a welcoming feel and colorful curb appeal to any home exterior, quickly and affordably. You can buy ready-made containers from local garden centers or create your own with your favorite plants. For most landscapes, a staggered, asymmetrical arrangement works best to create a dynamic setting.
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Curb Appeal Renew paint and trim: New paint automatically transforms the look of a home. Periodic maintenance of that exterior surface is the surest way to keep your house and its curb appeal looking its best. Any obvious defects, such as cracked or rotting material, can downgrade the aesthetic. Tile your doorstep: Create a permanent welcome mat by tiling or painting a design that contrasts with the porch floor or front stoop. Not only will you not have to worry about replacing the mat when it gets ratty, but you can impress your visitors with your creativity. Dress up your driveway: If your driveway is cracked or stained or has vegetation sprouting from it, you can upgrade it for curb appeal without doing a complete redo. First repair the cracks and stains (and kill the weeds), then dress it up by staining the concrete or affixing flagstones. If you need more room to move your car or park, add stone, brick, or pavers to the sides of the drive to widen it with flair. Build a walkway: Well-designed walkways make your home feel warm and inviting. For a dramatic improvement to a straight concrete path, replace it with a contoured one made of stone or brick. For a less radical upgrade to your curb appeal, apply a colored
concrete resurfacer to the old walkway, then edge with brick or stone borders. Brick pavers offer traditional, classic beauty to the landscape of any home. Upgrade railings: Porch and stoop railings can deteriorate quickly if not treated properly. If your railings are past their prime, look for quality wood or metal components to replace the existing material and improve curb appeal. As with other improvements attached directly to the house, make sure the color, scale, design, details, and material are compatible with your home’s main features. Mailbox redo: If you have home delivery of mail, your mailbox should complement your home and express your personality. When choosing a hanging drop box, pick a box that mirrors your home's trimmings. Dress up mailboxes for curb appeal by painting the wooden post to match the house's exterior color, or by surrounding it by a beautiful flowering garden. About the Author: Karen Kasperbauer Perez is blissfully married to Tom D. Perez of Perez Brothers Inc/Perez Properties. Much of her knowledge of construction and materials was gained when she became involved with some of the design aspects of their home. Kasperbauer Perez currently is an educator at Guam High School, but likes to dabble in sharing design thoughts with friends and family.
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W h o Ya G o n n a C a l l ?
Call Trini at
687-8340 Trini Sarmiento
Associate Broker/REALTOR®
triniguam@yahoo.com
BHI Realty
Real Estate Sales•Property Management•Tel:637-7431•D. Bruschi PB
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Closing
Message from the President Deanna Palmer 2016 President Guam Association of REALTORS®
Looking to buy a house? Real estate agent members of GAR are trained and licensed to help you navigate through the buying process for the dream house you have your eyes on. And if you need financing, these REALTORS® can also help you in the process of obtaining a mortgage loan. Last October 2015, the federal government implemented new guidelines, called TILA/RESPA Integrated Disclosure (TRID), to govern how financial institutions will process a mortgage loan application. Your REALTOR® has been trained in the mechanics of TRID and will work with your chosen bank and mortgage loan officer to make the loan process as convenient as possible. All you need to do is provide a written authorization giving permission to your bank to discuss the loan with your REALTOR®. With this authorization, your REALTOR® can then have the necessary information to advise and assist you in the steps needed, so that your mortgage application can be processed in the shortest time possible. This means you can complete your purchase with less frustration and move-in to your dream house sooner. A very welcome feature of TRID is paperless processing. Once you send in the application documents and they are scanned at the bank, you won't need to repeat any of these documents. They are all stored in one file. Your file. The financial institutions have worked hard to complete the TRID requirements and the loan process is becoming faster and less tedious. And you will make the biggest difference by providing all required documents quickly. So if you are looking to buy, make an appointment with a REALTOR® as a first step. You could be moving-in in no time.
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 Februar y 2016
Message from the Chief Executive Officer and Government Affairs Director Peggy Araullo Llagas Guam Association of REALTORS®
Fiduciary Duties: Part 1 A real estate broker who becomes an agent of a seller or buyer, either intentionally through the execution of a written agreement, or unintentionally by a course of conduct, will be deemed to be a fiduciary. Fiduciary duties are the highest duties known to the law. Classic examples of fiduciaries are trustees, executors, and guardians. As a fiduciary, a real estate broker will be held under the law to owe certain specific duties to his principal, in addition to any duties or obligations set forth in a listing agreement or other contract of employment. These specific fiduciary duties include: Loyalty. A duty of loyalty is one of the most fundamental fiduciary duties owed by an agent to his principal. This duty obligates a real estate broker to act at all times solely in the best interests of his principal to the exclusion of all other interests, including the broker’s own self-interest. A corollary of this duty of loyalty is a duty to avoid steadfastly any conflicts of interest that might compromise or dilute the broker’s undivided loyalty to his principal’s interests. Thus, a real estate broker’s duty of loyalty prohibits him from accepting employment from any person whose interests compete with, or are adverse to, his principal’s interests. A classic example of breach of this duty of loyalty by a real estate broker is a broker who purchases property listed with his firm and then immediately resells it at a profit. Such conduct ordinarily is perfectly appropriate and lawful by persons acting “at arm’s length.” But a fiduciary will be deemed to have “stolen” a profit opportunity rightfully belonging to his principal and thus to have breached his duty of loyalty. Confidentiality. An agent is obligated to safeguard his principal’s confidence and secrets. A real estate broker, therefore, must keep confidential any information that might weaken his principal’s bargaining position if it were revealed. This duty of confidentiality precludes a broker representing a seller from disclosing to a buyer that the seller can, or must, sell his property below the listed price. Conversely, a broker representing a buyer is prohibited from disclosing to a seller that the buyer can, or will, pay more for a property than has been offered. CAVEAT: This duty of confidentiality plainly does not include any obligation on a broker representing a seller to withhold from a buyer known material facts concerning the condition of the seller’s property or to misrepresent the condition of the property. To do so would constitute misrepresentation and would impose liability on both the broker and the seller. Obedience. An agent is obligated to obey promptly and efficiently all lawful instructions of his principal. However, this duty plainly does not include an obligation to obey any unlawful instructions; for example, an instruction not to market the property to minorities or to misrepresent the condition of the property. Compliance with instructions the agent knows to be unlawful could constitute a breach of an agent’s duty of loyalty. - National Association of REALTORS® -
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