CasaGuam Vol. 2 Issue 6 by Yellow Pages Ink

June 09 CONTENTS

Message From GAR

REALTORS® In Our Community

7 Departments 6

Market Report Tougher Times Ahead? Feature Slow But Steady

The real estate market may have slowed but some believe investing in Guam is still a good decision.

From the Experts Sell Your Home With The C.A.R.M.E.N. System Profile Toni Johnson

Curb Appeal Garage Doors – Beauty, Strength & Security

How To D.I.Y. Front Door Facelift

Who Ya Gonna Call?

Classifieds

Closing Guam Association of Realtors®

Coming Down From The Sky

How REALTORS® Can Help (Part 2) |Publisher| Julian T. Cooper-Nurse

|Business Sales Manager| Jay-R S. Dominguez

|Traffic/Circulation Manager|

April 2009 • Vol. 2 • No. 6

Josie Redmond

|Production Manager| Mark S. Burke CasaGuam is Published by:

|Production Assistant| Lynda Young

|Graphics & Layout|

P.O. Box 24881 Barrigada, GU 96921 Tel: (671) 472-3495 | Fax: (671) 472-3498 email: office@yellowpagesink.com

Mark S. Burke • Jon Barnhart

“Time is Money” is an adage which is none more relevant than in the real estate industry. Properties come on the market and get snapped up by buyers on any particular day, customers missed today are gone tomorrow, mortgage rates fluxuate regularly and market changes are continually dynamic. Despite this pressure to always be available to their work to meet these opportunities and from working on closing sales and contract where always “time is of the essence”, members of the Guam Association of REALTORS® continue to find personal and rofessional time to give back to the communities in which we live. The Guam Association of REALTORS® recently put together a large number of members to participate in the Guam Relay for Life, where REALTORS® from Guam joined the community in raising money for Cancer research, surpassing its initial goal of $3,000. This month, Guam Association of REALTORS® will be sponsoring its 3rd annual 5K run/walk at 6a.m. on Saturday, June 13th, at the Ypao Park Amphitheater. Proceeds from this fundraiser will go in part to Guam causes, including VARO(Victims Advocate Reaching Out). This 5K run/walk is great fun and GAR welcomes all members of the public to participate. Interested participants, please show up early to get registered or contact Noli Villaverde (tel: 649-2454 or email: vverdec21@yahoo.com) for more information on this fundraising 5K Run/Walk. Guam REALTOR® members participate regularly in giving back to the community and over the past years have participated hands-on with painting of local school buildings, public education seminars, sponsoring housing renovation for needy, direct donations to local charity causes, and this year is working on sponsorship for Guma San Jose homeless outreach program. The Guam Association of REALTORS® works for the community in providing a voice for the sellers and buyers and renters of Real Estate on Guam, and our members are dedicated to improving the community in which we live and work. GAR is also the conduit for both REALTORS® and members of the public who may have concerns or ethics complaints about their real estate agents. Only real estate agents and brokers who are REALTORS® and can display the REALTOR® logo are trained in and bound by a strict code of ethics set forth by the National Association of REALTORS®, and those codes are enforced by the Guam Association of REALTORS®.

|Editorial Contributors| Faye Varias • W. Nicholas Captain • Peggy Araullo Llagas Angela Camacho • Carmen Mesa • Ken Limtiaco

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.

Steffen Niu 2009 President Guam Association of REALTORS®

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Real Estate Listing By Village Looking for something in particular? See the listings index below to point you in the direction of a listing in this real estate guide that’s right for you. Simply look up the village, type of home or apartment and see the ad on the corresponding page number. Happy Home Hunting!

Commercial Sales Agat Century 21 Commonwealth Realty . . . . . . . . . .8

Dededo Coral Sea . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Chen Properties . . . . . . . . . . . . . . . . . . . . . . . . . .19

Inarajan

W. Yamamoto Realty . . . . . . . . . . . . . . . . . . . . . .14 Century 21 Commonwealth Realty . . . . . . . . .15 Coral Sea . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Century 21 Commonwealth Realty . . . . . . . . .17 Global Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18 Advance Management . . . . . . . . . . . . . . . . . . . .19 Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC

Mangilao

FC - Front Cover

IBC - Inside Back Cover

IFC - Inside Front Cover

BC - Back Cover

Yona Jose Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 Century 21 Realty Management . . . . . . . . . . .17 Advance Management . . . . . . . . . . . . . . . . . . . .19

Residential Rentals Agana Heights

Yigo

Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .32

Century 21 Realty Management . . . . . . . . . .IFC BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 Jose Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 Coral Sea . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Century 21 Realty Management . . . . . . . . . . .17

Mangilao

BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 Century 21 Commonwealth Realty . . . . . . . . . .8 RE/MAX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13

BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3

Merizo

Piti

Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC

Barrigada

Century 21 Commonwealth Realty . . . . . . . . . .8

Mongmong-Toto-Maite

Tamuning

Global Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18

BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 Jose Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7

RE/MAX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13 Century 21 Realty Management . . . . . . . . . . .14 Century 21 Commonwealth Realty . . . . . . . . .15

Ordot-Chalan Pago

Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC

Tumon Coldwell Banker . . . . . . . . . . . . . . . . . . . . . . . . . . . .4 Global Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18

Commercial Rentals

BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 Jose Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 Century 21 Commonwealth Realty . . . . . . . . . .8 RE/MAX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12 Coral Sea . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15

Piti

Asan Century 21 Realty Management . . . . . . . . . .IFC RE/MAX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12

BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 Jose Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 RE/MAX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12 Century 21 Realty Management . . . . . . . . . . .17 Century 21 Commonwealth Realty . . . . . . . . .17

Hagåtña Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .32

Century 21 Commonwealth Realty . . . . . . . . . .8 Chen Properties . . . . . . . . . . . . . . . . . . . . . . . . . .19

Mongmong-Toto-Maite

Talofofo

Coral Sea . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15

Tamuning Jose Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 Century 21 Commonwealth Realty . . . . . . . . .17 Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .32

Tumon Coldwell Banker . . . . . . . . . . . . . . . . . . . . . . . . . . . .4 Advance Management . . . . . . . . . . . . . . . . . . . .19

Residential Sales Agana Heights Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .32

Agat Century 21 Commonwealth Realty . . . . . . . . . .8 The Real Estate Profressionals . . . . . . . . . . . . .18

Barrigada Century 21 Realty Management . . . . . . . . . .IFC Jose Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 RE/MAX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13 Century 21 Commonwealth Realty . . . . . . . . .15 Century 21 Commonwealth Realty . . . . . . . . .17 Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC

Dededo BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 Jose Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 Century 21 Commonwealth Realty . . . . . . . . . .8 RE/MAX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13

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Yona BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3

Dededo

Century 21 Realty Management . . . . . . . . . .IFC Century 21 Commonwealth Realty . . . . . . . . . .8 RE/MAX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12 Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .32

Dededo

Century 21 Commonwealth Realty . . . . . . . . . .8 RE/MAX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12-13 W. Yamamoto Realty . . . . . . . . . . . . . . . . . . . . . .14 Century 21 Commonwealth Realty . . . . . . . . .15 Advance Management . . . . . . . . . . . . . . . . . . . .19 Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC

Inarajan

Land For Sale Agat Century 21 Commonwealth Realty . . . . . . . . .15

Barrigada Century 21 Realty Management . . . . . . . . . .IFC

Dededo BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3

Century 21 Commonwealth Realty . . . . . . . . . .8

Hagåtña

Mangilao

Coldwell Banker . . . . . . . . . . . . . . . . . . . . . . . . . . . .4

Mongmong-Toto-Maite

Coral Sea . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC

Century 21 Realty Management . . . . . . . . . .IFC BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 Advance Management . . . . . . . . . . . . . . . . . . . .19

Tamuning

Mongmong-Toto-Maite

Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .32

BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 Coldwell Banker . . . . . . . . . . . . . . . . . . . . . . . . . .4-5 Century 21 Commonwealth Realty . . . . . . . . . .8 Century 21 Realty Management . . . . . . . . . . . .9 RE/MAX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13 Century 21 Realty Management . . . . . . . . . . .14 Century 21 Commonwealth Realty . . . . . . . . .15 Coral Sea . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Century 21 Commonwealth Realty . . . . . . . . .17 Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .32 Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC

RE/MAX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12

Piti

Ordot-Chalan Pago

Century 21 Commonwealth Realty . . . . . . . . .15

Tumon

Sinajana

Century 21 Realty Management . . . . . . . . . .IFC Century 21 Commonwealth Realty . . . . . . . . . .8 Century 21 Realty Management . . . . . . . . . . . .9 Advance Management . . . . . . . . . . . . . . . . . . . .19 Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC

BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 Century 21 Realty Management . . . . . . . . . . .17

Yigo Century 21 Realty Management . . . . . . . . . .IFC BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 Coral Sea . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Century 21 Realty Management . . . . . . . . . . .17 Century 21 Commonwealth Realty . . . . . . . . .17 Global Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18 Chen Properties . . . . . . . . . . . . . . . . . . . . . . . . . .19 Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC

BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 Jose Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 W. Yamamoto Realty . . . . . . . . . . . . . . . . . . . . . .14 Century 21 Realty Management . . . . . . . . . . .17 Century 21 Commonwealth Realty . . . . . . . . .17

Global Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18

Ordot-Chalan Pago

Santa Rita Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .32

Talofofo Coral Sea . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15

Piti

Tamuning

Century 21 Commonwealth Realty . . . . . . . . . .8 Nimitz Towers . . . . . . . . . . . . . . . . . . . . . . . . . . . .19

Century 21 Realty Management . . . . . . . . . .IFC Global Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18 Advance Management . . . . . . . . . . . . . . . . . . . .19 Empire Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . .32

Tamuning Coldwell Banker . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 Jose Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 Century 21 Realty Management . . . . . . . . . . . .9 RE/MAX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12-13 Century 21 Realty Management . . . . . . . . . . .14 Century 21 Commonwealth Realty . . . . . . . . .15 Century 21 Realty Management . . . . . . . . . . .17 Chen Properties . . . . . . . . . . . . . . . . . . . . . . . . . .19 Advance Management . . . . . . . . . . . . . . . . . . . .19

Tumon Jose Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7

Tumon Coldwell Banker . . . . . . . . . . . . . . . . . . . . . . . . . . . .4

Yigo Century 21 Realty Management . . . . . . . . . .IFC BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 Coral Sea . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Century 21 Realty Management . . . . . . . . . . .17 Global Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18 Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BC

Yona BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 Global Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18

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Market Repor t

Tougher Times Ahead? W. Nicholas Captain

It’s been a tough few months and Guam’s real estate market statistics reflect the fear of investing and liquidity issues that have made an impact on global markets. Captain Real Estate reports total quarterly sales of Guam real estate peaked at just over $200 million during the third quarter of 2007. During the first quarter of 2009, that figure plummeted to $36.3 million — an 82 percent drop. The most recent period reflected the lowest sales activity in six years and approximated quarterly activity during the 2000 to 2003 downturn period. Year to date 2009 sales volume is down by 63 percent, and the number of transactions is down by 40 percent compared with 2008. Single family dwelling sales volume during the 1st quarter of 2009 slid to 115 units, the slowest pace since 2002, while the median price of a home fell by 28 percent to $160,000, the sharpest decline on record. The sharp median price decline is more reflective of the change in product mix than overall price deflation, which has been minimal. Condominium sales activity, reflecting a near evaporation of foreign investment, declined to 25 units during the 1st quarter of 2009, the weakest quarterly activity on record. However, the median price of a condominium unit remained relatively firm at $135,000.

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The current weakness in the real estate sector, combined with extremely low interest rates, has created a window of opportunity for buyers. We expect that lower priced transactions closing in 2009 will be the exception, and not reflective of new benchmarks. The opportunity to buy at a discount requires a seller under duress because prevailing market sentiment reflects strong price appreciation potential once the military build-up commences.

by early 2010. Weak local real estate market conditions are due to a combination of fear, uncertainty and a dearth of foreign investment. Hawaii and mainland markets have fallen sharply due to the poor economy and a lack of available capital. Guam’s market will recover much faster than Hawaii or the mainland precisely because of the fundamental causes of the downturn. Although our economy has stumbled, the military build-up activity

Guam real estate investors, for the most part, have shifted into a “hold” mode and those forced to sell remain quite rare. Although the 1st quarter of 2009 statistics approximate those during the 2000 to 2003 downturn, the fundamentals of Guam’s market today are vastly different than during the downturn, and a return to more normalized activity is expected

is expected to create jobs and fuel immigration and foreign investment by next year. Further, Guam banks include some of the nation’s strongest and the mortgage crisis has been mostly tame. The fear and uncertainty impacting Guam’s real estate market is already waning, and excitement and opportunity will likely fill the void. Foreign investment, stung by economic fallout

and the strong U.S. dollar, will steadily rise along with badly needed on and off-base construction projects. We expect the current downturn to reflect the shortest recovery on record. In the near term, the key for investors is staying power. That means cash flow, not just cash, is king. Another reason that we expect Guam’s real estate market to recover quickly is supply. There are very few sectors of the market that are currently characterized by high vacancy and an over supply of new construction. Once military build-up related demand takes off, the upward pressure on rents and prices could be significant. The blind optimism associated with the military build-up since 2005 may find that 20/20 vision is not too far away. The Department of Defense budget is expected to include several hundred million dollars for Guam construction and Japan will likely join the investment party soon. North Korea’s rocket launch further justifies the sharpening of Guam’s military spear. The U.S. General Accounting Office has given Secretary Gates justification to personally act to insure implementation of current Guam build-up plans. Guam’s Industry Forum III will bring badly needed foreign investors back to the island in late April. Assuming that no additional Moratoriums on development are forthcoming, we expect real estate sales volume to increase significantly during late 2009 and early 2010.

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Feature

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Feature

“For both the new and seasoned investor looking for the ultimate investment destination, Guam USA is your ‘business smart destination.’” These are the words that describe investing in Guam found on the Guam Economic Development and Commerce Authority Web site. It states, “Guam offers many business advantages and opportunities” and invites possible investors to explore the elements that contribute to Guam’s economy as the island prepares and continues to develop for the next phase of economic growth in the region.

Military Growth The next phase no doubt refers to the military buildup. David Ulloa, principal broker of Pacific Rim Realty, mentions on the company Web site that the Asia Pacific region would change dramatically because of this growth. Ulloa has more than 40 years experience in the real estate industry as a real estate investor and developer and has been a licensed real estate broker on Guam since 1970. Previously, he was a real estate agent managing up to 70 agents in California. He has built a host of contacts locally and abroad, in both private and public sectors. He has been an active participant in Guam real estate from the upturns and booms to the downturns and economically challenging times, spanning four decades. “This impending military buildup will undoubtedly be an excellent compliment to the growing tourism industry,” the site states.

The Two Pillars For the uninformed, Guam has two primary pillars in its economy: tourism and military. GEDCA states that while tourism has been the primary driver of the island’s economy for the last three decades, the government of Guam and leaders in the private sector jointly made aggressive strides in creating an environment conducive to the development of other industries, such as financial services, telecommunications and transportation. The other pillar of the economy, CasaGuam.com 11

Feature the U.S. military, is currently making tremendous amounts of investment into Guam. This is due in part to the transfer of the Okinawa based

Marines and their families to the island. In addition, the military will be constructing many new facilities to accommodate this increased growth in the Pacific Rim. Both Navy and Air Force bases are reportedly earmarked for major expansion, possibly doubling in size. This almost ensures Guam will experience major economic and population growth over the next few years. Pacific Rim Realty believes this military expansion together with our staple tourist industry and continued influx of foreign investment has Guam real estate on the rise again and poised for sustained long-term growth. “The confidence and optimism of the residential real estate market these days has many new projects either proposed, approved or currently under construction, with some already successfully completed and sold.” According to local industry analysts, through the first half of 2008, the median price paid for a single-family dwelling on Guam was around 12 CasaGuam June 09

$203,000, a condominium unit, in the same time period, was about $138,000.

Market Fluctuations Ulloa states Guam did experience a huge spike in real estate investments in 2007; resulting in approximately $687 million in transactions closed, but the market has since slowed down. It is predicted to slow down the next couple of years and then gradually grow as the buildup approaches. Industry experts believe both the actual time frame for the Marine relocation planned for 2014, still several years away and the temporary moratorium on new developments in central Guam were direct contributing factors, however world events and the global financial crisis are contributing to the slow down as well. The Pacific Daily News reported early last month that as the global economic downturn continues, Guam has seen fewer tourists and investments from South Korea, a trend that isn’t likely to improve significantly this year, according to South Korean economists. South Korea is the island’s second-largest tourism market and

Feature visitor arrivals have dropped as that country’s economy faces difficult times, said Guam Visitors Bureau General Manager Gerry Perez in March. Yvonne Lee, one of seven U.S. fellows participating in the EastWest Center’s Korea-U.S. Journalists Exchange said arrivals from Korea were down 21 percent in April. From January to March, arrivals were down 41 percent compared to last year. Lee reported that when it comes to investing, analysts at Samsung Economic Research Institute, a private-sector think tank in South Korea, said recently that investment in Guam is considered too risky.

Take the Risk? “All countries have seen an increase in investment risk. Compared to Korea, overseas investment, whether it’s Guam or other countries, is seen as riskier,” said Hyun Soo Park, a research fellow at the institute. In particular, real-estate investments in Guam and the U.S. mainland aren’t viewed as a likely option for South Korean companies, said Soojong Kwak, research fellow in the American economy at the institute. “I can’t speak for other companies, but the Samsung group is not interested in real-estate investment.

In the short term, it’s hard to see Korean companies investing in real estate,” he said. Lee said, in the April 20 issue of “Korea Economic Trends,” a weekly analysis of Korea’s economic and management trends, the institute reports that despite some encouraging signs, it seems unlikely that internal and external economic conditions will improve in the near term. Even the strongest sectors have been negatively affected by the economic downturn. The education market is as big as the auto industry, with Koreans spending about $4.2 billion on it each year, Park said, adding that education is the last expense households tend to cut from their budgets. Despite the temporary setbacks, Ulloa believes these are still very promising times for Guam. From a national defense perspective, it is expected that the planned military buildup on Guam will move forward and the marine relocation will occur. Thus Guam, in the next few years, is almost assured to experience major economic and population growth, which is a real opportunity for real estate investors.

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From the Experts

The Power of VA Purchase By Angela Camacho

Angela Camacho REALTOR®, Today’s Realty

The Veterans Home Loan Guaranty Program is a mortgage loan made by a private lender and guaranteed by Veterans Administration in the event payments are not made as agreed upon. The VA home loan was created under the GI Bill and encourages private lenders to offer favorable home loan terms to qualified veterans. Some advantages of VA home loans are no down payment, no private mortgage insurance (PMI) required and limitations on buyer's closing cost. Notary fees, tax service fees, attorney fees, termite inspection fees and escrow fees cannot be charged to the veteran or military member.

In addition to the program’s 100% financing, the VA funding fee may also be financed. Currently, the VA funding fee is 2.15% for first time users and 3.3% for subsequent user. This fee may be waived for compensated disabled veteran borrowers. A VA loan may be used to buy an existing home or condominium unit in a VA-approved project, or to build a home. The veteran must occupy or intend to occupy the property as their primary residence within a reasonable period of time after closing the loan.

STEPS TO A VA LOAN:

Contact your favorite bank’s mortgage department to prequalify for a VA Home Loan.

Select a REALTOR® to work with. Decide on a home you want to buy and make an offer. Once your offer is accepted by the seller, apply for a VA loan and work on the details. Your mortgage loan officer will process your loan application and help you obtain your certificate of eligibility.

Close the loan and get ready to move in!

Sell Your Home With The C.A.R.M.E.N. System

By Carmen Masa

What is the CARMEN system? omparative a Market Analysis. She pro-

vides her Sellers with a Comparative Market Analysis (CMA) Report. This report gives an idea of what the property is worth in the current market. The report will compare homes that are actively listed for sale, homes that have recently closed, and homes that have recently expired. In order to attract serious buyers the home must be priced correctly. Access to extensive databases provides Carmen with the information she needs to get the ball rolling.

ction.

A R

Develop a plan of action to get the results you are looking for... a sold sign in your yard and cash in your pocket.

esults.

In order to achieve optimum results Carmen will stage your home to encourage buyers to visualize the property as their OWN. This very often overlooked step in the home preparation process is very important to achieve a buyer early in the marketing period.

aterials. a Getting your home ready to sell must also include making sure the title to your property is clean. You would be surprised at what might ‘pop’ up. Carmen will review any documents you have on hand such as old appraisals, maps, deeds, utility bills, tax bills and any other documents that may have the answers to a prospective buyer’s questions.

xposure.

Carmen’s systems are designed to expose your property to as many

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Carmen Mesa REALTOR®, Today’s Realty

potential buyers and their agents in the shortest period of time possible. Some examples of tools that she uses include newspaper and magazine ads, banners, tv ads, flyers, real estate company websites, open houses, and radio ads. As an added an unique bonus, Carmen also promotes your property directly to all 350 plus REALTORS that are members of the Guam Multiple Listing System.

egotiation and Closing.

a a

When offers come in Carmen will be there to work with you to negotiate a purchase on terms and conditions that is in your best interest. Once a contract has been agreed upon, we will work together to clear any matters that pop up (believe me they do!) and then close on the transaction. Selling your home is serious business! You do have choices in how you go about this very important task. Call Carmen today and let her Carmen System work for you. Award winning REALTOR® Carmen Mesa is a REALTOR® with Today’s Realty and can be reached at 777-MESA (6372) or by email at carmen@guamhome.com

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Profile

Coming Down From The Sky

Growing up, Toni Johnson always thought she would follow in her father’s footsteps and work in the airline industry. “My father had worked for Pan Am for 15 years,” she said. Johnson worked a two-year stint at Continental Airlines but she switched careers soon after. “I decided I wanted to own my own home and that getting into the real estate profession would be the best way to learn the process.” That was more than 23 years ago. “It was the best decision I made,” she said. Starting out, she said her father referred her to Chris Felix, saying he’s the only guy for whom to work. She’s been with him since. Johnson entered the real estate

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Toni Johnson By Faye Varias

industry in the late ‘80s and early ‘90s when real estate was booming. “I learned quickly that I had to carry a purchase agreement with me on showings. If a buyer wanted the property they had to decide on the spot and I had to write the purchase

Associate Broker Century 21 Realty Management Co. Education: Bachelor’s in business administration from the University of Oregon Family: Jonathan Johnson, husband; David and Chris, children Business motto: “Never stop trying. Never give up. It’s not done until it’s done.”

agreement on the spot. Those were memorable days.” She said working with different personalities is probably the most challenging part of her job but she focuses on the task at hand. I’ve overcome these challenges by developing more patience. Any successful transaction is all about team work.” For her customers, she says, “Before looking around at properties, check out the various lenders and the learn about the financing packages; figure out what you qualify for and what your bottom line costs are; and always bare in mind the ability to resale when you are purchasing. Lastly, you will get better service if you stick with one agent.” On the job, Johnson has also learned to do her homework. She advised those looking into the business to “Learn what the downside and what the challenges are which

come with the business by talking with other realtors. Most people get into the business thinking it’s easier than it really is. It takes a couple of years to build a customer base, sometimes longer. It takes a lot of perseverance, patience and a strong will to succeed.” Though she said she doesn’t really have time for hobbies other than catching up on personal matters and attending family events, she enjoys her career. As for the airline industry, Johnson said, “I ended up marrying someone who works for Continental Airlines so I still have some connection. My life has been a blessing.” But she’s not done yet. Within the next few years, she hopes to continue improving and not only sell more real estate, but to strive to earn the trust and long-term business of every customer and client.

“Casa Guam is a great magazine. The quality, the sales division and design lay out staff that work behind the scenes are all outstanding. They show great effort and as a result the end product is really great! As a consumer, it is a good quality magazine and I really like the content. I also like that CasaGuam Magazine is available in every possible known location a customer goes to.”

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Curb Appeal

Garage Doors – Beauty, Strength & Security Ken Limtiaco By

Who would’ve thought that our island homes would now be using garage doors? I remember, years ago, when I would take that occasional trip to the mainland seeing my friends living in a home with a garage door. I always thought how “cool” that was. I mean driving up to your house and pushing a button that opened the garage door then driving your car into the garage and then the door closing behind you. Wow... I would only see that on television and here were my friends living the dream. Well, our housing industry has certainly jumped on the garage door bandwagon. It seems that almost every new home (including the beautiful homes found at the new Talo Verde development in Upper Tumon) is being designed to have an actual garage complete with garage door instead of an open air carport. Garage doors provide a great level of curb appeal as the first look of the property is clean and neat. Gone are the days when you would see the rusty bicycles and unused weight bench when you drive up to someone’s home. These can be neatly tucked away in the garage and covered by the garage door. Additionally, as our resident population becomes more diverse, particularly from the growing U.S. Military presence, the expectation that homes should have garage doors becomes quite high. In this article, I will provide several buying tips to help you select the right garage door. First and foremost in most buyers minds would be the strength of the door. We live on an island that is prone to devas-

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tating typhoons (thankfully none in the recent past) and those of us that have experienced one can attest to the fact that there is no storm, and I mean no storm, like a Guam SuperTyphoon. Having said that; however, most U.S. Garage manufacturers will make a special line of doors that meet the worst wind conditions that have been experienced in the mainland United States. These “codes” are associated with the state of Florida, in particular, the Miami Dade County. While we may snicker a little bit when we see the wind speeds associated with these codes they are in fact the strongest doors manufactured for the general consumer and we have to remember that manufacturers must balance aesthetics with costs in trying to get a “price effective” product to the market. U.S. Manufacturers of these types of garage doors will provide a certi-

fication that the door that you have purchased meets the Miami Dade requirements and you should insist on receiving that when buy your door. Of course, there are “standard” type garage doors that do not meet these codes and will, most certainly, cost you a little bit less but I believe that it is worth the extra investment to get the stronger door. It will provide you with peace of mind and will certainly add to the value of your home. Secondly, garage doors come in a variety of colors and designs. Over the past year or so, I have only seen white being used. I believe that this is because the white is a very neutral color and really goes with any color of exterior paint. Bear in mind though that you can choose from a rainbow of colors. The designs available are also varied. You can choose from a plain paneled door to one that looks like a “barn door” complete with old school handles (only there for aesthetics). Additionally, you can opt for glass inserts throughout the various panels to add a unique look to

the door as well as providing for external light to get into your garage. You can choose a wood door, a wood composite door, a steel door (typically the only ones Miami Dade Certified), or a fiberglass door. Options, Options, Options. The last factor, at least for this article, is that you will need to ensure that your home will physically accommodate a garage door. Some homeowner’s are renovating their existing open air carport in hopes to install a garage door. There are certain clearances on the sides and the top of the garage opening that need to be met in order to properly install a garage door. Call or visit one of the local dealers here in Guam to get the measurements that you will need. In closing, a garage door will certainly add to the curb appeal and overall value of your property. It not only presents a cleaner look but also adds to the security of your home.

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H o w To D . I . Y. Materials

Front Door Facelift -www.diynet.com With the home market being as they are in these tough times; first impressions could be the deciding factor in getting your home sold. In this DIY tutorial weâ&#x20AC;&#x2122;ll show you how to freshen up your front door and improve your home's curb appeal.

Remove the door

Saw Horses Chemical Paint Stripper Shave Hook Old Paintbrush Electric Sander

Sand the door Let the door dry and then sand the wood thoroughly for a smooth, clean surface. Use an electric sander for flat surfaces and hand sand tight, intricate areas.

Begin by removing the door and placing it on saw horses in a well ventilated area.

Remove hardware

Apply base coat

Remove any hardware from the door and, with an old paintbrush, apply a generous amount of paint stripper to any painted areas using a dabbing motion.

Start stripping

Apply a base coat of stain or varnish, brushing with the grain. Allow the coat to dry.

Apply 2nd & 3rd coat Allow the stripper to set according to the manufacturer's instructions, and remove the bubbled paint with a shave hook. Note: Doors with heavy paint build-up may require more than one application or stripper to get the job done.

After the coat is dry, lightly sand the wood with a fine-grit sandpaper. Wipe away any dust with a moist cloth and apply a second coat. Then repeat the process once more for a third -- and final -- application.

Re-install

Remove excess

Once all the paint has been removed, neutralize any residual stripper with water or white vinegar and a lint-free cloth.

www.bensonguam.com email: sales@bensonguam.com 26 CasaGuam June 09

Lint-free Cloth And Vinegar Stain And Brush Rubber Gloves Safety Glasses

Finally, install new-door hardware, roll out the welcome mat and you'll have the front of your home looking its best!

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Who Ya Gonna Call

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Who Ya Gonna Call

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Classifieds Commercial Sales Agat AGAT MLS 09-241 Oppurtunity is knocking!!! Own your own business & 3 bedroom home by purchasing this great corner lot property. So much potential to the right owners to grow this well established business and adjacent home. Call for details. Call Clare 483-2120

Harmon Harmon Industrial M-1 Zone ? Acre Fenced Lot $280000 or Best offer. MUST SELL! Ideal forWarehse/Office PLUS PreConstructed / Unfinished Slab Call/Lv Msg 632-1200

Dededo - Cont.

Yigo

Dededo - Cont.

LAS PALMAS I –Townhouse 3bd/2.5ba excellent cond, pool, security, tennis $200,000 Call 637-7165 / 688-0887 /689-7700

Two homes for a price of one! Semi-concrete home with 4 bedrooms & 2 baths and full concrete home with 2 bedrooms in the back. Home has lots of potential for future expansion. $190,000 Call Lourdes @ 483-1384

Latte Heights 4 bd/2 ba Home for Rent $1,900.00/month Call Angie 727-2228

Villa Rosario Condo 3bd/2ba, pool, security, clean newly, renovated $155,000 or $1300/month-rent Call 637-7165 / 688-0887 /689-7700 Latte Heights 4 bd/2 ba Home for Sale $235,000 Call Angie 727-2228 Latte Heights 3 bd/2ba Home for Sale $220,000 Call Angie 727-2228 Villa Rosario Condo 3 bd/2ba for Sale $140,000 Call Angie 727-2228

Residential Rentals Barrigada Heights Luxury new house, 4500 sqft, gated, panoramic view $6000/m Call 637-7165 / 688-0887 /689-7700 Barrigada Heights Home for rent $4,000.00/month Call Angie 727-2228

Chalan Pago

Ordot ORDOT/CHALAN PAGO $650,000 MLS 09-507 This nice complex is situated in the village of Ordot is centrally located very near to schools, shopping, restaurants and minutes to downtown Hagatna. Fully occupied, renovated with neatly kept grounds, this is a great income producing property. Call Clare 483-2120

Commercial Rentals

DEDEDO $136,000 MLS 08-3189 Villa Rosario Newly renovated 3rd floor unit. Nice spacious condo with new tiles. Great as either a personal residence or investment property. Call Clare 483-2120 for a showing, you won't be disappointed.

Harmon Duplex R2 Lot 3bd/2ba & 2bd/1ba excellent condition, good location $342,000 Call 637-7165 / 688-0887 /689-7700

Tamuning Mangilao Commerical Building - Across Oka Payless, 1800 square feet 2nd floor unit. Great location! $3,000/mo Call Daniel @ 687-5115

Behind Latte Heights Market House 2bd/2ba half-acre lot, fenced, good location $212,000 FIRM Call 637-7165 / 688-0887 /689-7700

Residential Sales Barrigada Heights Barrigada Heights Home for sale $675,000 Call Angie 727-2228

Park Villa Condo – Large 3bd/2ba, 1st floor very nice near Route 10. Asking $155,000 or $1,300/month-rent Call 637-7165 / 688-0887 /689-7700

Tamuning

Chalan Pago CHALAN PAGO $270,000 MLS 09-89 Nestled quietly in Chalan Pago, this 3bd/3ba two story home has lots of yard space and is fully fenced on a quarter acre lot. Call Clare 483-2120

Dededo SUMMER PALACE ; Townhouse 3bd/2.5ba, corner unit w/ large yard, pool, tennis, 24hr. sec REDUCED $240,000 Call 637-7165 / 688-0887 /689-7700 30 CasaGuam June 09

Asusentado Condo: Large 3bd/2ba, pool excellent condition $240,000 Call 637-7165 / 688-0887 /689-7700

4bd/2ba 1850 sqft . renovated quiet & very clean house $1,900 Call 637-7165 / 688-0887 /689-7700 Spacious 3 bd. 2.5 ba. townhouse. Large master bd., ceramic tiles, indoor laundry, remote control garage, & shutters. Only minutes to shopping, restaurants, & other establishments. $1,800/mo. Call Lou @ 483-1384

Dededo New 4 bedroom 3 bath home in Guam’s premier subdivision, Paradise Estates phase II. $2400.00 Call Pat at 727-4PAT (4728) 2 Bd w/ Ref / Oven/ Split Aircon/ Patio & Garden Good location Walking Distance to church, schools, payless,flea market Call / Lv Msg at 632-1200 1 Bd w/ Ref / Oven/ Typhoon Shutters Good location Walking Distance to church, schools Payless & flea market. Sec 8 / Mil OK Call / Lv Msg at 632-1200 Totally renovated, large 5bd/3ba, ample parking,gated $2,500/mo Call 637-7165 / 688-0887 /689-7700

Tumon

Summer Palace: 2 Exec Home 4bd/2.5ba, renovated, pool, tennis, 24-hr security $2,200 Call 637-7165 / 688-0887 /689-7700

Villa De Coco: Condo Large 2bd/1ba excellent condition fee simple $220,000 Call 637-7165 / 688-0887 /689-7700

Las Palmas Ph III 3bd/2.5ba + 2 dens excellent condition, sec., pool $1,700 Call 637-7165 / 688-0887 /689-7700

Upper Tumon: Condo 3bd/2ba Renovated fee simple Only $150,000 Call 637-7165 / 688-0887 /689-7700

Large Apartment 2bd/2ba w&d, shutters, nice, near schools sec 8 ok $800 - $830 Call 637-7165 / 688-0887 /689-7700

Villa Rosario Condo 3 bd/2ba for Rent $1,250.00/month Call Angie 727-2228 Villa Rosario – First Floor, Large unit 3bd/ 2ba patio leading to large yard, complete renovation like brand new, walk-in closet, pool, security $1,500/month. Call 6377165 / 688-0887/689-7700 Villa Rosario 1st Floor Large unit 3bd/2ba Patio leading to a large yard. Completely renovated. $1,500/mo walk-in closet. Call W. Yamamoto Realty 688-0887

Harmon Large 3bd/2ba Condo, fully furnished $1,400 Call 637-7165 / 688-0887 /689-7700

Mongmong-Toto-Maite This is a nice 3 bedroom plus a Den with 2 full baths. Flooring is all ceramic with an open floorplan. Fully fenced yard with gates and lots of back yard to roam. This is on a cul-de-sac with other nice homes. $1,800/m Call Deanna 688-2855

Santa Rita 2bd 1bath, starting $700 Call 687-5422 for this & more, Coral Sea

Sinajana Rarely available 2 bd. 2 ba. executive unit at Holiday Tower Condo. Ocean/city views, secured ent., pool, covered parking & many more. $2,000/mo. incl. water. Call Lou @ 483-1384.

Tamuning 3bd 2Ba section 8 OK Call 687-5422 for this & more, Coral Sea Great Location near Oka Towers. Laundry inside, Nice size kitchen w/lots of cabinets. Marble in bathrooms, high ceilings & central a/c unit. All windows have accordion typhoon shutters, 2 car parking & security door entry. $ 1,700/mo Call Deanna 688-2855

Classifieds Tamuning - Cont. This Horizon Townhome has been recently refurbished w/Ceramic Tiles, New Kitchen cabinets, new bathrooms, paint & window blinds. 2 large patios to enjoy with enough room for your B-B-Q. Gated community. NEW DISHWASHER INSTALLED! $1,800/mo Call Deanna 688-2855

Tumon Tumon Height or Ypao Garden 2nd floor 2bd/2ba, pool newly renovated, ample parking $1,200/mo Call 637-7165 / 688-0887 /689-7700 Pia Resort Condo 2bd/2ba oceanview, pool, security, fully furnished $1,900/mo Call 637-7165 / 688-0887 /689-7700 Nice 2 bedroom 2 bath condo in Tumon behind Duty Free Shoppers. It is on the 10th floor & has a beautiful ocean view. $1,400/month Call George 483-9111 Nice condo on the top (10th flr) w/a beautiful ocean view, nice furnitures, gated entry, swimming pool & walking distance from shops and restaurants in Tumon. $1,700/month. Call George 483-9111

Yigo Completely renovated 4 bedroom 3 bath home on a huge 1/2 acre lot. Just off RT. 15 and minutes from AAFB. Fully fenced and ready to move in. $2400 Call Pat at 727-4PAT (4728) 3 Bd w/ Ref / Oven/ Window Grill & Patio Fenced/ Big Yard! Walking Distance to Bus Stop Sec 8/Mil OK! Call/Lv Msg at 632-1200

Land For Sale Dededo Rt. 16 Acho Latte St. Near MIDPAC, 1,970 Âą sm land $100,000 Call 637-7165 / 688-0887 /689-7700

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Closing

Message from the Executive Officer The Voice for Real Estate on Guam

Peggy Araullo Llagas

LEARN HOW TO AVOID FORECLOSURE AND KEEP YOUR HOME How REALTORS® Can Help (Part 2) REALTORS® are in the business of helping people become homeowners and want to do everything they can to make sure you can afford to stay in your home. • The best and least expensive option may be working with the company that collects payments on your mortgage (the loan servicer, which often is not your original lender). • If your loan servicer isn’t willing or able to help, check into refinancing your current mortgage with another lender. REALTORS® can help you find lenders that make fair and affordable loans. • Ask your REALTOR® or counselor if there are state and local government and local nonprofit organization foreclosure prevention programs and who to call. • Counseling agencies are in the business of helping borrowers like you. Check out Counseling Resources.

• Remember, you should shop just as carefully for a mortgage as you do for a car or anything else you buy. Getting the lowest possible rate and fees can save you many thousands of dollars over the life of the loan. • Sometimes the only option is selling the home. Of course, no one is better at helping a seller than a REALTOR®. It is better to sell than go through foreclosure because (1) you can profit from any equity that remains in the home, and (2) it will be easier to qualify for credit in the future and buy another home. Be wary of advertisements like “Cash for Houses/Any Situation” or “We Buy Houses for Cash.” Many of these are scams that falsely promise rescue from a foreclosure. Unfortunately, the “rescue” often involves the homeowner signing over the house and the family being evicted from its home. -National Association of REALTORS®

Guam Association of Realtors®

The Voice for Real Estate on Guam 414 West Soledad Avenue, GCIC Building, Suite 500-U, Hagåtña, GU 96910 Office: (671) 477-4271 • Fax: (671) 477-4275 www.guamrealtors.com • email: eo@guamrealtors.com 32 CasaGuam June 09