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CONTENTS
Let ter from the Editor Letter from the Editor
Departments 4
Market Report MARCH-MAY 2016 REAL ESTATE MARKET UPDATE
8
10
Feature Top 4 Things that Determine a Home’s Value
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Real Estate Spotlight The Three Realms of Perspective
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Profile James Martinez Martinez At the Helm At GCA
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From the Experts Stone Money and Title Insurance
June 2016 • Vol. 9 • No. 06 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
[ Display Advertising ] John Mendiola Doris Pangelinan Emily Untalan
[ Traffic/Circulation ] Carol Aperocho
[ Production Manager ] 18
How to D.I.Y. Greenhouse from Old Windows
22
Curb Appeal Curb Appeal Ideas that are Cheap and Easy!
25
Who Ya Gonna Call?
27
Classifieds
28
Closing
Mark S. Burke
[ Graphics & Layout ] Mark S. Burke Edwin E. Valencia
[ Website Development ] Edwin E. Valencia
[ Editorial Contributors ] John Arroyo Robert Stammers Arlene Taitague Taitingfong Kim Anderson Young
Arlene Taitague Taitingfong
Hafa adai! Our June issue is about what is of value or what can give value in relation to our homes via home improvement projects, property location, and a few other suggestions. Our FEATURE article is “Top 4 Thing That Determine A Home’s Value”. Read up on what really gives your home its worth. What can I say? Location, location, location! James Martinez is our PROFILE this month. Find out how he landed his position as Executive Director of the Guam Contractors Association, and what you can do if you want to get into the construction business. John Arroyo joins us again and shares an interesting story in “Stone Money and Title Insurance” in FROM THE EXPERTS. Read up on what a title company does before they issue the title insurance. Siska Hutapea shares the latest statistics in MARKET REPORT and gives us an update on Guam’s most recent property transactions. Kim Anderson Young recently hosted motivational speaker and business coach, Darryl Turner. He shared with her “The Three Realms of Perspective” and she’s passing that information to YOU! Read about it in REAL ESTATE SPOTLIGHT. GAR President, Deanna Palmer gives us the latest on what’s happening with the First Time Buyer Grant Program, and Peggy Illagas, CEO and Government Affairs Director of GAR, explains “The Value of REALTORS®”. We would love to hear feedback from you. If you want to share your thoughts or story, please send a message to editor@yellowpagesink.com Until next month, stay safe Guam.
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
MARCH-MAY 2016 REAL ESTATE MARKET UPDATE he April 2016 Guam real estate sales volume experienced a spike due to the $125 million sales of the Westin Resort Guam. The 432 room oceanfront hotel, which is always on the top five of highest performing hotels in Guam, was sold on April 21, 2016 by LeoPalace Guam Corporation to Pioneer Holdings Corporation. The indicated price includes a $62.4 million mortgage in favor of Hyundai Marine & Fire Insurance, Mirae Asset Life Insurance and Nonghyup Property & Casualty Insurance; all based in Seoul Korea. The property will be the second Korean-based owner hotel in Guam after Lotte. This purchase is in line with increased Korean tourist arrivals in Guam, and has now included over 30 percent of the total Guam visitors. With this sale, we may see $500 million total sales by the end of 2016. The old Navy Exchange building in Tiyan, and several former officer housing units, also exchanged hands in April. The Sangalang Building along Route 16 was sold for $1.2 million to a local buyer who owns a popular restaurant in Guam (you might see its ad on Facebook). The 12 unit Manibusan Condo in Barrigada was sold in May for $1.5 million ($125,000 per unit). A 3,879 square meter interior Tumon land near Happy Landing Road sold for $395 per square meter. A 1,631 square meter oceanfront M1 zoned land next to Lutheran Church in Anigua sold for $599,900. Another M1 zoned parcel along Marine Corps Drive, also sold in Anigua at $287 per square meter to be built for partial owner occupant commercial building. The slew of million dollar residential units sold in Guam also continues. A unit in La Stella Maris, oceanfront Tumon, sold in May for $1.25 million. Just down the beach, Unit 9B of Villa Kanton Tasi also sold for $1.6 million. The Villa de Kolales 106 sale ($1.24 million) in February and the Villa Kanton Tasi 6B sale ($1.3 million) in January, round up the oceanfront Tumon condominium sales. Three single family dwellings of $1 million and above sold in the first 4 months of 2016. On the affordable end of the market, nine Apusento Gardens condominium units sold in the first four months of 2016. Tamuning Villa, followed with four condominium units sold with prices ranging from $180,000 to $190,000. Three of the four units sold were of the same/related party sellers. Tumon Horizon, Pacific Towers, Oka Towers and Tumon Holiday Manor are the other notable projects with three unit sales each in the first four months of 2016.
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Another cliff line Talo Verde Estates lot sold for $775,000 in May. This is one of four cliff line house lots that sold in the past six months in Guam’s most prestigious subdivision with three acres central park. Two houses, including one $3.5 million cliff line house that sold as a summer home, closed in the first four months of 2016. On the other end of the island, 14 houses in Paradise Meadows, the sister development of Paradise Estates, closed in 2016 as the houses were completed. Interesting months ahead this year!
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Market Repor t
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Feature
Top 4 Things That Determine A Home's Value By Robert Stammers
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Many first-time homeowners and experienced real estate investors seem to focus on the functionality and style of their proposed purchases, expecting these characteristics to lead to increased property value. Many fail to remember the slogan of the real estate industry - "location, location, location" - when trying to find the property that will lead to the greatest investment performance. The reality is that the physical structure actually depreciates over time. It is the land underneath the structure that appreciates in value. This is a significant distinction, considering that the purchase of a home is the single greatest investment that most retail investors will make in their lifetimes. Failing to look at one's home as an investment and understand the drivers of value, or concentrating on functionality and accommodation, can limit the property's overall performance and opportunities to maximize wealth.
Land as an Appreciating Asset Making the distinction between the improved portion of a property and the land on which it sits may seem trivial. But it is not until the real estate investor focuses on these differences that it becomes easier to find more efficient investments that provide the highest return for the amount of risk or capital invested. Because property prices are a function of local supply and demand, the appearance, functionality and maintenance of the physical structure will certainly impact value, but these factors have less impact than one may think. Understanding how location and the future prospects of land values influence property returns allows investors to make better choices between competing assets. The reason that land is an appreciating asset is a simple one. It is in limited supply, and no one is producing any more. The demand for land is constantly growing as the population increases, and since its supply is limited, its price must increase over time. Unless something happens to limit demand for a given area or make it unusable, the grounds should be expected to increase in value over time. The question is how much the land will appreciate and how much the improvements will enhance or degrade overall value. The physical structure on a property is a depreciating asset. As it ages, it requires capital infusions for maintenance, updating to stem functional obsolescence and, depending on its design, 8 CasaGuam June 2016
updating to prevent it from falling out of style. Even the Internal Revenue Service (IRS) acknowledges this fact by allowing depreciation of the physical structure for tax obligations. The land underneath the structure, however, is not depreciated. The degree of depreciation or physical obsolescence will be specific to each property, but it is fair to say that if left alone, a property will continue to lose value until it no longer adds value to the land, or even reduces its value. Some land parcels with inferior structures, as compared to the surrounding properties, will actually be worth more unimproved. Owners will often raze the physical structure in order to maximize the value of the parcel. So why are advisors always suggesting that property owners commit capital to update their homes? The reason is to counteract some or all of the depreciation that is slowly reducing the value of the structure. Experienced real estate investors realize that this asset class is capital intensive, requiring periodic capital input to maximize value.
Implications for Investment Once an investor understands the impact of land value on total appreciation, the market's mantra of "location, location, location" makes more sense. The implication is that home buyers have to look past the physical attributes of the home and focus how its location in the market will affect overall return. This is extremely difficult for home buyers who expect to live in their homes for an extended period of time. However, even the most lackluster of purchases can be improved over time and create significant wealth if located in an area of high demand. The following are some considerations for new home buyers to consider:
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Feature Smaller or less attractive homes can provide greater investment returns. To understand this point, envision two functionally sound houses on equal land parcels in the same neighborhood, one valued near the maximum for houses in that neighborhood and another trading at half that price. Since local supply and demand factors drive land values, houses in a neighborhood tend to appreciate by approximately the same amount per year. If the more expensive house appreciates by 10% (not including any specific improvement or capital projects), this would be equivalent to a 20% return for the other - a much more efficient use of investment capital. Locations within neighborhoods will affect land values. Locations, such as cul-de-sacs, due their constraint on traffic and implied safety for children, are usually in higher demand than houses on more frequently used roadways. The appreciation of land values underscores the importance of choosing between neighborhoods. Most middle- and upper-class, single-family-home neighborhoods already limit new construction when developers purchase most of the available land to construct residential neighborhoods and subdivisions. Because of this, most neighborhoods evolve their own social, cultural and demographic characteristics that impact demand for houses there. The average age of neighbors can provide clues to appreciation. Many investors do not consider this when selecting locations. New home buyers with small children will often avoid locations with older homeowners that will not provide playmates for their children. Also, most homeowners are aware of the influence that specific public schools have on the demand for homes in that particular school district. Since homes in the area are not homogeneous, the appreciation is all due to location and the value of land. Future development can change your property's value for better or for worse. Homeowners must be cognizant not only of the present state of local amenities, but also the future prospects for commercial and governmental development in the area. Government plans concerning schools, hospitals, traffic patterns and other public infrastructure will have as much influence on land values as present and future development of commercial amenities in a particular locale. Single-family property investors must factor into their purchase offers the potential effect of vacant or developable land on future supply and home prices. This is a continual risk borne by purchasers of condominiums. Condo prices are affected by the same demand factors as single-family homes and the appreciation of the land that their building is on. A unique issue for condo owners is supply. Unlike most single-family homes, which are built in infill locations, a significant number of condos can be built on small parcels of land and in short periods of time, increasing supply and potentially driving down prices. It is difficult for condo owners to gauge the potential
for new development and land values, since multi-unit structures and high rises can easily be built on parcels that were initially home to other types of residential or commercial real estate.
Look Beyond Style The successful real estate investor learns to look beyond style and the physical attributes of prospective purchases and concentrates on the potential for land appreciation. This requires overlooking the most attractive houses in a target location and concentrating on those that provide opportunities for improvement that will enhance the value of the land. Understanding land values will change the investment view of the under-maintained ranch house from "unattractive" to "money maker." Investors interested in tracking appreciation should visit the site of the Office of Federal Housing Enterprise Oversight, which allows you to check the housing appreciation in your area.
Price Appreciation Price Appreciation is the biggest factor, but it's not the only thing to consider - learn more in Measuring The Benefits Of Home Ownership. (check out http://www.investopedia.com/ articles/mortgages-real-estate/08/home-ownership.asp) Attribution: http://www.investopedia.com/articles/mortgages-real-estate/08/housing-appreciation.asp
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On The Cover
Pago Bay Designer Homes ow do you feel when you wake up with sunrise view in your bed? Yes, This is the one. You can enjoy this large 3 Bedroom, 3 Full Bathroom house with ocean view & mountain view. This New Housing Development offers you modern architectural design, top class interior materials , wood kitchen cabinets with granite counter tops, center island, huge walk-in closet for your love one. As a special offer for you we include a water softener system, built in microwave with oven, gas stove, dishwasher... You have to to come to see it, words can not express it! Just pick up your phone and call 647-0888
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Real Estate Spotlight
The Three Realms of Perspective
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By Kim Anderson Young
On April 28th, Security Title was honored to host author, motivational speaker and business coach, Darryl Turner, bringing him to Guam as part of our “partnering for success” commitment to the Guam Association of Realtors®. Over a monster drink, Darryl and I talked about the concept of customer service and his ideas surprised me! Darryl explained that there are three realms of perspective when it comes to Customer expectations and service.
The First Realm Is “Reactive Service”. This is the most common definition of the literal word “service”. This is what we provide when someone asks us for something. This is what we do when we return phone calls. This is what we do when we deliver a title report to a customer, or a commission to a broker. In other words, with this type of behavior, we are reacting to someone’s request. The simple fact is that anyone can do that. If we think this type of service separates us from the competition we are not only wrong, it is worse than that. This type of service confirms that we are exactly like the competition!
The Second Realm Is “Responsive Service”. Have you ever considered what it would be like if your customers never asked for a return phone call because you were actually available to take the call when it first came in? Wow, what would things be like if we could respond to our customers’ needs by making ourselves available to them at the time they needed us? It is sad when the customer no longer expects anyone to be available to take a call. It is also not easy to make the change toward being available! In order to be responsive in your service you will have to re-align some things in your life. I learned from Darryl that I need to let go of some tasks on my “to do” list in order to make myself available to my customers.
The Third Realm Is “Proactive Service”. This is better known as “Customer Surprise”. If you want a customer to never forget your service, surprise them! According to Darryl, it is just as simple as this. The more you do for them without them asking for it and then communicating that to them, the more you have surprised them. In conclusion, you will not keep your customers by simply serving them. You will keep them by surprising them! 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
Martinez At the Helm At GCA
By Arlene Taitague Taitingfong
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It’s funny how fate has a way of getting us to a place that we may never expect to be in. It seems that way for James Martinez who came from a retail service industry. Martinez currently holds the position of Executive Director of the Guam Contractors Association, and has been in his position since September 2001. “I saw an ad in the daily paper and thought I’d take a stab at applying for the position,” Martinez said. Previous to this, he had been the retail manager for an Austrailan-based oil and petroleum company call BHP Petroleum. He explained how the assets were purchased by Mobil Oil Guam back in 1998/1999, which left him unemployed after the acquisition. He then opened a flower shop/party favor business. “The economy was headed south at the beginning of the new millennium, so that business only lasted a short while.” And as fate would have it, he ran across the ad for an Executive Director. After going through the application and interview process, Martinez heard back from GCA. “It was a bittersweet moment for me as I got word that I was hired the morning of 9/11.” It has been 15 years since Martinez took the helm of GCA. The organization is a non-profit corporation dedicated to promoting the common business interests of its members on Guam and Micronesia. According to their website, its sole & prime purpose is to represent the industry by advocating at all levels of government. For more information on the organization, check out their website at http://guamcontractors.org GCA has over 500 members and Martinez expresses how much he enjoys this area of his job. “Working with the members of the organization is probably at the forefront. Coming from a retail service industry perspective where the customer is “king”, I strived for customer service excellence by reaching out to our members and learning what values they look for in the organization, and what programs would help their business grow.” If you are looking at getting into the construction industry, Martinez explains how this industry is so diverse. As far as employment goes, the industry is always looking for skilled trades people. He reported, “We are also looking for people new to the industry and genuinely interested in becoming a part of the industry and have a willingness to learn a construction trade.” The creation of the GCA Trades Academy was probably the most significant accomplishment of the organization. According to Martinez, with the creation of the GCA Trades Academy, there is an opportunity for anyone interested in a field in the construction industry, to be trained. “We are now able to train our local residents and regional migrants in a rewarding career in construction, with nationally recognized certifications under 14 CasaGuam June 2016
JAMES MARTINEZ EXECUTIVE DIRECTOR GUAM CONTRACTORS ASSOCIATION
our accredited training sponsorship with the National Center of Construction Education and Research (NCCER).” It’s no wonder that Martinez likes the DIY projects and editorials of CasaGuam magazine. “I also enjoy the colorful and professional photos of the houses currently on the market,” stated Martinez. In his spare time, Martinez enjoys hanging out with his grandchildren. “They are still at the age when hanging out with grandma and grandpa is pretty cool. It doesn't hurt that they also get spoiled with toys and snacks that their parents typically don't approve,” he said with a smile. “The good thing is we get to return them to their parents at the end of the day!” That sounds like a sentiment shared by many grandparents.
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From the Experts
Stone Money and Title Insurance
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As the General Manager of Title Guaranty of Guam I am asked from time to time to explain the function and significance of title insurance. I love these occasions because it allows me the opportunity to promote the company I manage and to educate property owners and potential owners of the importance of protecting what is, in most cases, their single largest purchase and greatest asset. But let’s face it, listening to a discourse on title insurance is like listening to a decision theory lecture on the von Neumann-Morgenstern utility theorem. I see eyes glaze over and impatient twitching within the first minute of my discussion, my cue to quickly get to the point leaving out critical aspects of title protection. That was the way it went until I remembered Yap stone money. What? I’ll get to the connection, but first, what do you know of Yap stone money? I started my banking career as a commercial lender at the Bank of Hawaii. Shortly after I transferred from the Honolulu main office to Guam, I was given the islands of Palau and Yap as my commercial loan calling responsibilities. Both islands are beautiful, rich in culture and tradition, and the people are warm and friendly. I was extremely happy to get these assignments. On my first trip to Yap I was treated to a tour of the Stone Money Bank. The “bank” is actually a tree shaded footpath lined on both sides by stone money, circular shaped limestone disks of different diameters with a hole in the center of each stone. Some experts say that the sparkle of limestone and its rareness (limestone is not available on Yap) lead early Yapese natives to believe the stone had value and could be used as a medium of exchange. The closest place to Yap to get limestone is Palau, some two hundred plus miles away across open ocean. Expeditions required many men to quarry and shape the stones which are as large as twelve feet in diameter and weigh several hundred pounds. The massive stones would then have to be lashed to a raft and sailed via outrigger canoe back to Yap. Depending on the sea and weather conditions the trip could be perilous and there were times lives and stones were lost at sea making the passage. The value of stone money is determined by the effort it took to get it to Yap, if lives were lost in the endeavor, the workmanship, and what tools were used to cut and shape the stone. Stones carved by shell implements have a higher value than those carved by metal tools. Small stone money carved by shell tools can be more valuable than larger ones carved by metal tools. When the stone money arrived on Yap it was placed in the front yard of its owner and there it typically remained. Stone money was and still is, to a lesser degree, used to buy land and other goods and services and while these transactions are undocumented they are extensively known throughout the island. In some cases the size and 16 CasaGuam June 2016
By John Arroyo
weight of larger stone money do not readily allow them to be physically transferred from owner to owner when traded. Even though it would remain where it was originally placed, the new owner and the ownership chain of each stone is common knowledge and unquestioned. So what does stone money have to do with title insurance? Like stone money, land has value and can be bought and sold many times over and in the process accumulate a considerable and complex history of owners. Also like stone money, land does not physically transfer from owner to owner when bought and sold, it remains in the same place no matter who the owner. It would be great if land transactions could be undocumented like those with stone money and that the ownership history of each parcel of property were extensively known and unquestioned as well. Land transfers would be faster and far less expensive. However that could never happen, wish as hard as we might, except for those amongst most trusted relationships. The truth of the matter is that land transactions have to be documented and a record of ownership history kept because they are often questioned and challenged. When you are looking to purchase real estate and need information, a title company will conduct a comprehensive search of all public records pertaining to the property and ownership chain so that you don’t have to. They will provide a report of their findings listing all encumbrances, liens and encroachments affecting the property and will back their research with a monetary guaranty, an insurance policy, that it is complete and accurate. Furthermore, the title policy coverage extends to ownership risks that were not known or were not public record at the time the policy was issued. Some of these risks include forged deeds, undisclosed heirs, erroneous interpretation of wills, and falsification of public records. A title policy will cover losses you sustain in the event a claim against your title is successful. Additionally, it covers the legal fees and court costs to defend your title against challenges to your ownership. And if all that is not enough, your title insurance policy will cover you and your heirs for as long as you or they own the land. The greatest thing about a title insurance policy is that you pay the premium only once! There are no annual renewals or fees. Title insurance is the best protection value you can ever get. Considering the investment you make in purchasing real estate and developing it, protecting it with title insurance is a no brainer. There you have it. Still awake? About the Author: John Arroyo is the General Manager of Title Guaranty of Guam. He is a member of the Guam Land Use Commission and has been a financial institution executive and lender for over 25 years.
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H o w To D . I . Y.
Greenhouse From Old Windows
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This is a brief guide on how I took some old windows from houses they where tearing down in my neighborhood and turned them into a small greenhouse in my back yard. I collected the windows over the course of a year and a half and the build took about 3 months, spending one day a week on it. I spent about $300 for the lumber for the frame and screws, caulk, latches, etc. That's almost 10% of what a greenhouse kit would cost. The size I built was 7 ft high x 10 ft deep x 6 ft wide. But the size of your greenhouse will depend on your windows and the time you want to put into project.
Step 1: Collect Windows and Plan Two Pair of Equal Sides. Look for old windows and save every one you get. After you have many, lay them out and play a game trying to make two pairs of "walls" both the same height. Two to three inches won't matter as you can cover the difference with wood. Smaller holes will need to have glass cut for them or filled with something else. Keep in mind that one end will need a door and the other a hole for a fan.
Step 2: Create a Frame Using the windows you chose as a guide, construct a frame for each wall. Use good lumber for this, as it is the structure that holds all the weight. I used all 2 x 4s for the studs and 4 x 4s for the corner posts. Choose a length that allows at least 14" of the stud to be placed in the ground for support.
By Chert
Step 6: Get a Floor I was able to find someone who needed rocks removed from their yard. Using rocks or stones is good for two reasons: good drainage and heat storage.
Step 7: Build the Roof This was tricky. I ended up getting siding from an old shed someone had torn down. Any material you use, look for lightweight and waterproof material. Be sure that you have some that will open for ventilation, at least 20-30% of your floor space. You can get by with less if you use a fan for ventilation. Also build the slant roof with at least a 4 degree pitch, otherwise rain may not sheet off well.
Step 8: Add the Shelves and Fans. I found an old picnic bench table and this fan and shelf in the garbage. I figured I can use them in my greenhouse and save them from a landfill.
Step 9: Caulk and Paint Use a good outdoor caulk and seal all the cracks and holes between windows. Paint the wood to protect it from the weather.
Step 3: Brace Walls Start placing the walls up, bracing well so they don't fall over. Be sure to check that they are level.
Step 4: Make the Foundation Secure To avoid certain problems with pesky city building permits, I built the structure shed height and did not pour a concrete foundation. Instead I buried cinder blocks to stabilize the 4 x 4 corner posts. They keep it from moving an inch.
Step 5: Screw on Windows I used some nice coated deck screws to affix the windows to the frame. This will allow for easy removal and replacement if any break. This side facing the camera has the empty window for a fan. 18 CasaGuam June 2016
Citing Source: http://www.instructables.com/id/Greenhouse-From-Old-Windows
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Curb Appeal
Curb Appeal Ideas That Are Cheap and Easy!
By Lilly (Listotic.com)
1. Hide Your Air Conditioner It serves it purpose, but it’s not something anyone wants to look at. Not only that, but a lot of times it’s in violation of the HOA to have it visible from the street. I really like the little lattice fence idea, and you might only need just one small side of paneling depending on where your air conditioner is. Or, maybe even a really large, potted bushy plant instead?
2. Camouflage An Eyesore Leave it to that huge electrical box, piping, and wires to ruin the aesthetics of your home. Paint anything that stands out the same color as your house and they are a lot less noticeable and painful on the eyes. You could also paint other things in the yard the same color as your landscape and surroundings to help them blend in. 22 CasaGuam June 2016
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Curb Appeal 3. Give Your Front Door A Facelift Replacing an old door makes a huge difference, but to save a considerable amount of money, consider a little paint and molding instead. See what a difference it can make?! The added molding to the top of the entrance makes it appear more like a grand entrance. In fact, you probably wouldn’t believe that molding is made out of foam! This project just got so much more affordable.
B e f o re
After 4. Create A Walkway Even something as simple as placing a few pieces of slate down to create a pathway can make your home seem so much more inviting. My husband and I did this from the front circle drive to a side area in our yard (so we could stop walking through the grass), and it really made a noticeable difference in the overall look of our home.
After
Citing Source: http://www.listotic.com/17-easy-and-cheap-curb-appeal-ideas/3/
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W h o Ya G o n n a C a l l ?
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Classifieds Commercial Rentals
Piti
Chalan Pago
Land for Sale
Hagåtña
2BR, Ocean view! Across the beach! Close to Port, Naval Station, Polaris, & Stores. Max two tenants. $650 (Price does not include utilities) Call 649-8265 or 727-8265.
Pago Bay, Newly Built Home for Sale by Developer. Starting from $525,000. New subdivision, 2 story home, high ceilings, 3BD/3BA, 2 living rooms, dining room. Ocean & mountain views.
Agana Heights Lovely 1,640 +/- sm parcel fronting Chalan Macajna. R-2 zoned. Includes 2 lots. Close to the Firary. Rare opportunity. $169,500. Call Anthony at 688-8198.
Sinajana
Dededo
Agat
3BD/2BA home. Fully fenced. Price reduced. $305K. Call Ellen’s Realty at 647-0888 for more details!
14,221 SqMtrs. Fairly level. $711,050. Call 649-2121 for more details.
Commercial space for rent. 1,792 square feet. $3,500/month. Call Ellen’s Realty at 647-0888 for more details!
Tamuning 5 contiguous spaces available right on Guam’s busiest intersection! Highly visible, ample parking, backup generator.
Holiday Tower Condo - 2BD/2BA. Corner unit. Ocean & island views. Upscale & upgraded kitchen w/ extra counter space & stainless appliances. $2,205/mo. Call Sandy @ 687-6006.
$1,312.50/mo each. Call Sandy at 687-6006.
Yigo Northpoint Commercial Complex Space for Rent. $1.80 per square foot, $0.60 per square foot for common fee.
Merizo Santa Rita
Tamuning 4BD/2BA centrally located home for rent, along Carlos Heights. Tumon is closeby. Call Lolita @ 688-6743 or 479-8891 for more details.
4BD/3BA upgraded home. Fully fenced. Minutes away from Naval Station. $310K. Call Lolita at 479-8891 or 688-6743.
Talofofo
Call Rowena at 483-4317.
Tumon
Residential Rentals Barrigada 4BD/2BAHome . Central living close to the airport, schools and shopping areas.
Tecio Tumon Villa - Awesome 3BD/2BA unit in the heart of Pleasure Island. Walking distance to beaches, dining, shopping & more! $2,600/mo. Call Janet @ 687-1841.
$2,700/mo. Call Lolita at 479-8891 or 688-6743.
Tumon Horizon Condo - 2BD/1BA. Fully renovated & furnished. Water included. Call Weiwei @ 777-0688.
Dededo
Large 3BD/3BA home. Includes 25K generator, 650 gal water tank. $360K. Call Dennis at 727-3815.
Tamuning Oka Tower Condo. 2BD/2BA 1st floor unit. Superb amenities. $298K. Call Sandy at 687-6006.
3BD/2BA home for rent. $1,980/mo.
4BD/2BA Home. Peaceful and safe environment. Breezy and airy location. $1,500/mo. Call Lolita at 479-8891 or 688-6743.
Fully renovated. Fenced & gated. Call Loisa @ 727-6880.
Ordot-Chalan Pago Peaceful and serene 4BD/2BA home. 1,922+/-sf of living space. Upgrade master suite. 3-car covered car port. Call Suzanne @ 482-6426.
880+/- square meter land in a great central location and immediately available to build. Quiet neighborhood but close to central shopping and business areas. $65K. Call Flora @ 727-2955.
Piti 24,173+/- square meter lot with partial ocean view for agriculture or developers. Close to Harbor, Port Authority & Naval Base. $846,055. Negotiable. Call Flora @ 727-2955.
Talofofo
Yona
for more details!
Ordot-Chalan Pago
Tumon
5BD/5.5BA home. $4,800/mo. Call Ellen’s Realty @ 647-0888
Almost one acre lot ready for farming or dream home in quiet but lush area. $44K. Call Flora @ 727-2955.
Tumon Condo. 3BD/2BA. Great location close to restaurants, shopping areas, and minutes away from beaches. Grea investment. $150K. Call Karen @ 988-1883.
Residential Sales
Yigo
Barrigada
3BD/2BA Home, gated, storm shutters, split A/C, backup generator. $195,000. Call 688-8276 or 653-5679.
4BD/5BA modern home with spacious living area. Includes executive master bath with jacuzzi. Lot +/- 969 square meters. Price dropped to $508K! Call Karen at 988-1883..
Wonderful 2BD/2.5BA home. 1,714 +/- sf living space. Fully fenced. $321K. Call Suzanne at 482-6426.
929+/- square meter land for sale. Quarter acre lot, rectangular in shape. $57,400. Call Lolita @ 688-6743 or 479-8891 for more details.
Yigo 2,787+/- square meter land in the midst of quiet ambiance. Almost 3/4 acre lot just outside the back gate of AAFB. $105K. Negotiable. Call Flora @ 727-2955.
Yona One of seven lots and could become a developer’s dream. Located in the heart of Pulantat, Yona. 1,858+/- square meters. $50K. Call Flora @ 727-2955.
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Closing
Message from the President Deanna Palmer 2016 President Guam Association of REALTORS®
Funding for First Time Buyer Grant Program is on the Way! The Guam Association of REALTORS® has been working with Guam Housing Corporation and Tina Muna Barnes in an effort to identify money for the First Time Buyer Grant fund Program. We are excited to inform the public that Bill 293-33 (COR) has had its first public hearing. The Bill, introduced by Speaker Judith Won Pat, Senators Tina Muna-Barnes, RJ Respicio, NB Underwood, PhD, and Tommy Morrison, secures the Escheated funds from old savings accounts to go to First Time Buyer Grant fund program and is the current available funds are estimated to be able to help 95 Buyers pay for most of their closing fees. With this Bill, the program will continue with Escheated funds each year as the funds become available. The program does have requirements for receiving the grant funds. The Buyer must be a First Time Buyer. This also means that if you sold a property over 3 years ago, and do not have other property(s) you could be a first time Buyer. The purchase price cannot exceed $230,000 and you must live in the property for a minimum of 5 years or the funds will need to be reimbursed to Guam Housing Corporation on a sliding scale based on how long you lived in the property. Additionally, your debt to income ratio must meet loan requirements. Now is a great time to talk with a REALTOR® to understand more about the program. The Dream of Home Ownership is possible more now than ever.
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 June 2016
Message from the Chief Executive Officer and Government Affairs Director Peggy Araullo Llagas Guam Association of REALTORS®
Value of REALTORS® The term REALTOR® is not a generic term; it is a registered collective membership mark that identifies a licensed real estate professional who is a member of the Guam Association of REALTORS®. The term REALTOR® is NOT synonymous with “real estate agent.” There are about 1.2 million REALTORS® in the U.S., that work in both residential and commercial real estate as brokers, salespeople, property managers, appraisers, counselors and others engaged in all aspects of the real estate industry. Today’s home sales involve dozens of steps to complete the transaction. REALTORS® work through the real estate transaction process daily and know how it affects the interests of their clients and customers. REALTORS® know how to position a home for sale, negotiate contract terms, manage inspections and ensure a smooth settlement. All REALTORS® must take comprehensive training on the National Association of REALTORS® Code of Ethics every four years to retain their membership. NAR adopted its Code of Ethics in 1913 and was only the second trade or business group in the U.S. to adopt mandatory ethical standards. The Code is a comprehensive document spelling out professional responsibilities owed to clients, customers, other REALTORS® and the general public. • REALTORS® bring value to home buyers, sellers and investors. • Working with a REALTOR® gives buyers, sellers and investors the advantage they need to succeed in today’s market. REALTORS® help people buy and sell hundreds of homes over the course of their careers. • REALTORS® know what matters to buyers and sellers in your area. They have the expertise and experience to help sellers protect their investment and help buyers build theirs. • REALTORS® have unparalleled knowledge of local market conditions and can leverage that expertise to help their clients reach their real estate goals. • REALTORS® have access to advanced educational opportunities and training in both residential and commercial real estate specialties. • REALTORS® are industry innovators who have harnessed the power of the Internet to better serve consumers and have helped bring real estate technologies into the home buying and selling process to facilitate and streamline today’s real estate transactions. • REALTORS® are the most trusted resource for real estate information. Ask if your agent is a REALTOR®. A member of the Guam Association of REALTORS® who shall remain your leading advocate for promoting and protecting homeownership on Guam. Visit our website at www.guamrealtors.com.
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