Real Estate Journal - October 5, 2020

OCTOBER 5, 2020 ISSUE | REJGUAM.COM

Life is at home.

So is your bank.

DIGITAL BANKING Learn more at fhb.com/digital.



PAGE 4

The Right Stuff

Rolling out the red carpet Problem prevention Preventing moisture buildup



PAGE 7

The doctor is in The cost of losing a property



PAGE 9

Need to know Laying tiles

t INDEX THE RIGHT STUFF...........................................................2 PROBLEM PREVENTION................................................4 THE DOCTOR IS IN...........................................................7 PROFILE............................................................................8 NEED TO KNOW...............................................................9

In spaces where carpets are not allowed or feasible, area rugs are a nice alternative to add softness to a space.

Member FDIC

2

THE RIGHT STUFF | RUGS

THE REAL ESTATE JOURNAL

Rolling out the red carpet When it comes to flooring in Guam, tiles tend to be the more popular choice over carpets because tiles are easier to clean and they have a fresher feel, stylewise.

But there are perks to carpets and area rugs that tiles cannot provide.

Safety has a lot to do with the functionality of carpets and rugs. And Julien Guédon, project manager of The Carpet Store, said the extra padding helps make spaces more comfortable.

“Usually, the use of area rugs is for areas where there is either ceramic tiles or (luxury vinyl tiles). Some people realize that

the flooring is too hard or cold and, instead of installing wallto-wall carpet, they decide to go for a customized area rug with padding to make the space more comfortable,” Guédon said.

The best uses of a rug are in the living room and bedroom, he added. If there are children in the household, area rugs can protect them from the hardness of bare floors. For those living in rental units where wall-to-wall carpets are not allowed, rugs can be a attractive alternative for a touch of accent and softness to the interior design.

Neutral, thick-cut pile carpets

seem to be the most popular choice in Guam, Guédon said. Beige and gray carpets are picked the most and are therefore usually what The Carpet Store has in stock. Since patterned carpets are more personal to the individual, Guédon said those are limited to special orders.

“One person might like one, but not suit another customer,” he said.

For rentals, he recommended medium-grade carpets and area rugs with dark colors. For people with homes, there are several things to consider: are there young children in home? Indoor pets?

What level of carpet thickness

would be most comfortable for the floor it will lay on?

If there are pets, flooring such as Berber carpets may not be ideal.

For added safety, thicker, high-pile carpets would be best for children.

High-pile carpets have a luxurious, fluffy look to them that can make a space feel more inviting. However, these carpets are also more likely to retain allergens. They also make it harder to move objects around.

In areas of busy activity, low-pile carpets would be the better option.

The flatter surface makes it easier to clean, and it is less work to move furniture around. p

Area rugs can add color and also softness underfoot in a room.

Photos by John I. Borja

4

PROBLEM PREVENTION | PREVENTING MOISTURE BUILDUP

THE REAL ESTATE JOURNAL

Breaking the mold Wherever there is moisture, there is mold. And for Guam’s humid climate, that means mold is everywhere.

Mold becomes harmful to people when it builds up indoors due to excessive moisture. Although it is not possible to get rid of all mold indoors, the best preventative measure is to keep mold under control so that it does not spread and become a health hazard.

The U.S. Environmental

Protection Agency says, “It is impossible to get rid of all mold and mold spores indoors; some mold spores will be found floating through the air and in house dust.

The mold spores will not grow if moisture is not present. Indoor mold growth can and should be prevented or controlled by controlling moisture indoors.”

Simply put, if you prevent excessive moisture indoors, the mold will be kept under control.

John M. “Jack” Fernandez, president of Industrial Hygiene Professionals Inc., said normal housekeeping is adequate for preventing mold growth, but it requires a bit of self-monitoring around the home to check for warning signs. Fixing water leaks is a good first preventative step.

“Conditions to look out for include indoor environments where the relative humidity is above 60%, water leaks, flooding and areas that

remained wet for greater than 48 hours,” Fernandez said. “Leaving buildings sealed up for extended periods without ventilation often results in excessive moisture and mold growth.”

If mold that is growing exists in the home, especially on porous materials, Fernandez suggested removing and replacing the material it is on instead of trying to kill it. If the moisture issue cannot be fixed, mold will grow back.

“It is not necessary to use bleach or harsh chemicals to kill the mold when cleaning surfaces.

Thoroughly wiping to remove the mold with a mild detergent is usually sufficient, unless the material is porous, like gypsum board and ceiling tiles,” he said.

If the affected area of mold growth surpasses 10 square feet, Fernandez said a professional should be consulted. Contamination on this scale requires specialized equipment and trained workers who can successfully remove the mold. Certified industrial hygienists would be ideal to consult, he said.

“Conditions to look out for include indoor environments where the relative humidity is above 60%, water leaks, flooding and areas that remained wet for greater than 48 hours.”

THE REAL ESTATE JOURNAL

PROBLEM PREVENTION | PREVENTING MOISTURE BUILDUP

5

Mold grows in areas where moisture is concentrated.

Normal housekeeping and monitoring of wet spots can help control mold growth.

20-FHB-MortgageOnlineApp_REJ_Size7.5"X10".pdf

1

8/14/20

4:03 PM Photo by John I. Borja

EPA also has a list of tips for property owners to counter mold: • Fix plumbing leaks and other water problems as soon as possible.

• Scrub mold off hard surfaces with detergent and water, and dry completely.

• Do not paint or caulk moldy surfaces. Clean up the mold and dry the surfaces before painting. Paint applied over moldy surfaces is likely to peel.

• Increase ventilation in spaces where moisture would be commonly present, such as bathrooms.

• Wear gloves, goggles and a mask when removing mold to avoid exposure. p

THE REAL ESTATE JOURNAL

THE DOCTOR IS IN | CLOSING THE DOOR

7

The cost of losing a property In dire situations, a property owner may be forced to give up their property because they are falling behind on payments.

Anthony Godwin This can lead to either a foreclosure or a short sale.

A foreclosure is when the lender revokes ownership of a property that a borrower was unable to continue paying for. The lender assumes the ownership and then tries to sell the property to make up for any lost costs. A short sale

is when the borrower sells the property back to the lender, but at a lower amount than the balance of a mortgage, due to a financial shortfall. While both processes result in the loss of property for the borrower, the latter of the two at least has a negotiation process.

Anthony Godwin, principal broker with Today’s Realty, said, “A foreclosure is more detrimental, as a foreclosure action is initiated only by a lender. On the other hand, a short sale request is initiated by the property owner with the lender, so there is more opportunity to find a workable solution for both parties.”

Before taking a final move that will impact their lives in the short term, Godwin said property owners can seek help.

“Generally, I suggest borrowers that are having difficulties speak with their lenders when they notice the first sign of challenges making their loan payments.

Property owners can also speak with their realtor, attorney or a credit counselor for guidance.”

Foreclosures have long been a source of opportunity for investors.

But Goldwin said individuals could also consider buying a short sale property as an investment, but with the same care as any purchase.

“Buyers of short sale properties should still conduct all due diligence, title review, home inspections and other typical buyer investigations. The lender will be involved in approving the short sale and any conditions

attached to the approval, so the buyer should clearly understand all terms and conditions associated with the approval of the short sale.

For example, will the lender seek payment of any deficiency? Who will pay that deficiency?”

Buyers should still hire a title company or attorney to conduct a thorough search of the property records that might impact clear title, Godwin said.

“It is suggested that the buyer purchase title insurance with proper endorsements for any concerns the buyer might have. Furthermore, the buyer should confirm there are no rights remaining for the prior owner to redeem the property. “ p

8

REAL ESTATE PROFILE | EMPIRE REALTY

THE REAL ESTATE JOURNAL

Real Estate Profile — Empire Realty EMPIRE REALTY YEAR FOUNDED ON GUAM: July 2018 PRINCIPAL BROKER/CO-OWNER: Shivrani “Rani” Daryanani NUMBER OF REALTORS: 15 (one principal broker, one associate broker, 13 agents) WEBSITE: www.empirerealtyguam.com PHYSICAL LOCATION: 221 Farenholt Ave., Ste 201, Tamuning (Oka Commercial Center) AREAS OF EXPERTISE/SPECIALTIES: Residential, commercial, land, probate, relocation, military, PCS, investing, buying, selling, development, foreclosure, property management INVESTMENT TIP: “In today’s climate — with everyone being home — it’s the perfect time to do some home improvements to up the value and appeal of your home. Something as simple as a fresh coat of paint can do a lot to add value. Now is also the perfect time to upgrade appliances, such as changing to Energy Star rated kitchen appliances and air conditioning units. It is a seller’s market; inventory is low; demand is high and improvements can only increase the value of your home.” – Rani Daryanani ADDITIONAL COMMENTS ABOUT US: “Empire Realty is a dynamic team of realtors from different backgrounds, specialties and experiences. We take time to listen to our clients and understand their needs. As we build relationships, we work as a partner with our clients. We consult and offer you all the information and data you need as you take the journey to buy, sell or rent. We are here for our clients from start to finish.”

PICK OF THE MONTH: On an island where space is limited, warehousing and storage space will always be in demand.

Invest today in this fully air-conditioned concrete warehouse with chill storage room, 28-foot ceilings and five loading docks with roll-up doors. Fire alarms, a sprinkler system, solar panels, pallet racking and shelves are included. This property also features a built-in mezzanine and offices, an automatic backup generator and backup storage water tank, all with ample parking in a gated and secure compound. Located at 600 Bello Road, Barrigada. MLS# 20-2825. 39,252 square feet.

Listing price: $39,252

A 39,252-square-foot warehouse and storage room in Tamuning is available for sale at $39,252.

Photos courtesy of Empire Realty

NEED TO KNOW | L AYING TILES

THE REAL ESTATE JOURNAL

9

How to floor them Upgrading the flooring or walls of a home with a new set of tiles can provide a refreshing look and also make it easier to clean. While one can call a contractor for a bit of remodeling, tile installation can also be done independently.

For Iuliia “Julia” Mavrodieva, contractor and owner of Julia & Co., there is a lot of math involved in tile installation. This includes measuring the length and width of the area, purchasing the right number of tiles and leveling the cement on the subfloor so there

are no unwanted angles or dips.

“Always count an extra 15% of tiles, because you need to make sure you have enough after cutting,” Mavrodieva said.

There are several things to prepare beforehand when tiling, according to the service team at Home Depot. First, the space where the tiles will be laid will need to be measured. This will determine how many tiles are needed, and by extension, what style would look best in this space. Tiles are made in a variety

of materials, such as wood, stone, marble and porcelain, so it is best to research what materials would work best in certain spaces.

The space must also be clean, dry and flat. The subfloor — the area directly beneath the tiles — should be sturdy enough to support the tiles, mortar and grout when installing. Also keep in mind that furniture and appliances will rest on top of the freshly laid tiles, so the subfloor must maintain its support under those, too. Any dips, cracks or uneven places must

be fixed before installing tiles.

The primary materials needed for laying tile are thin-sets, which are adhesive mortars, a leveling tool, spacers of different sizes and grout. Mavrodieva said that for thin-sets, gray is better for floor tiling while white is best for walls.

As for grout, she said you can either go for the darkest shade of the tile, or a contrasting color for a bolder pattern definition. Other materials include a five-gallon continued on page 10

10

NEED TO KNOW | L AYING TILES

THE REAL ESTATE JOURNAL

PUBLISHER Maureen N. Maratita EDITORIAL COORDINATOR Morgan Legel CONTENT COORDINATOR John I. Borja CREATIVE CONTENT MANAGER Vikki Fong DESIGN & PRODUCTION Conrad Calma Luisa Joy Castro SENIOR MEDIA SALES Kevin Iwashita DIGITAL MEDIA SALES Natalie Gilbert ADMINISTRATION Tricia Scott DIRECTOR Ken Duenas

Tiling is a skill you can learn for saving money and satisfaction.

Photo by John I. Borja

MANAGING DIRECTOR Marcos W. Fong continued from page 9

The Real Estate Journal — October 5, 2020. Entire contents copyrighted 2019 by Glimpses Media. The Real Estate Journal is published monthly by Glimpses Media.

161 US Army Juan C. Fejeran St., Barrigada Heights, Guam 96913. (671) 649-0883; Fax (671) 649-8883.

POSTMASTER: Send address changes to Glimpses Media, P.O. Box 3191, Hagåtña, Guam 96932. Send e-mail to glimpses@glimpsesofguam.com. All rights reserved. No material may be printed in part or in whole without written permission from the publisher. Printed by Guam Daily Post LLC, on Guam. In the Northern Mariana Islands, contact Glimpses Media at Glimpses of Saipan Inc., 2nd Floor Transpac Business Center, Middle Road, Gualo Rai, Saipan, MP 96950, or call (670) 235-7645; Fax (670) 234-1801. Send e-mail to subscriptions@ glimpsesofguam.com.

Glimpses Media includes Guam Business Magazine, Marianas Business Journal, MBJ Life, The Real Estate Journal, Beach Road Magazine, Buenas, Drive Guam Magazine and Pocket Deals.

Glimpses of Guam Inc. Mission Statement: To connect people with information.

bucket, a drill, mixer, trowel, tape measure and tile cutter. You can also ask a home department store to cut the tiles for you if they provide that service.

After having everything in order, the process is simply laying the adhesive mortar on the bare subfloor, adding the tiles and using the grout to seal the tiles in place. There are several ways to make sure the tiles stay in place while setting, but Mavrodieva prefers the combing method with a trowel.

“My favorite method to lay tiles is laying under comb, but the floors needed to be leveled.

If possible, you can make an underlay with a bit of cement,” she said.

If removing old tiles require some demolition, Mavrodieva recommended to cover up drains beforehand and to wrap other nearby materials with plastic to avoid dust from settling. Keep in mind that the floor needs to be completely cleaned before laying anything down.

From a design perspective, Mavrodieva said that if there is a certain print on the tile, it would look better if the design was parallel to the longer side of the tile. p