Today's GuamHome April 2019 by Todays Realty

ISSUE 4 | APRIL 2019

CONTENTS 02 03 05 07

MARKET REPORT Residential Market Snapshot from January 1, 2019 to April 1, 2019

MEET OUR AGENTS

SOLD BY TODAY’S REALTY

A collection of recent homes sold by Today’s Realty

It is our honor to present this collection of beautiful homes for your review. Our team of over 20 agents and associatebrokers are all members of the Guam Association of REALTORS®, the National Association of REALTORS® and the Guam Multiple Listing Service (Guam MLS). Our team at Today’s Realty has ranked #1 for many years running in top sales reported to the Guam MLS. Buyers, Sellers and Renters know when it’s time for real estate... It’s time for Today’s! We are never too busy for your referrals!

ON THE COVER

396 Chalan Karetan Trosu, Dededo WHY ARE SURVEYS IMPORTANT? ESTOPPEL CERTIFICATES

elcome to the April 2019 issue of Today’s Guamhome newsletter.

Anthony Godwin Principal Broker / REALTOR®

Jun “John” Lin Vice President / REALTOR®

JUST LISTED

Recently listed properties in the market.

FOR THOUSANDS OF LISTINGS VISIT

WWW.GUAMHOME.COM

RESIDENTIAL MARKET SNAPSHOT JANUARY 1, 2019 - APRIL 1, 2019

HOMES SOLD

88 Single family homes sold from January 1, 2019 thru April 1, 2019 vs. the 95 homes sold in 2018.

HOMES RENTED

Year to date saw an increase in the number of single family homes rented at 203 in 2019 and 199 in 2018.

UNITS SOLD

50 Condominium units have been sold from January 1, 2019 thru April 1, 2019 vs. the 57 units sold in 2018.

UNITS RENTED

Year to date saw a decrease in the number of condominiums, townhomes, apartments rented from 277 in 2018 to current year at 262.

The strength of the Guam real estate market continues to be residential rentals

AVERAGE SALE & RENTAL PRICE HOME SALES

The average year-to-date home price of $358,377 was significantly higher than the $336,206 reported during the same period in 2018.

HOME RENTALS

Average single family monthly rentals so far this year decreased from $2,345 last year to current year at $2,277.

UNIT SALES

The average condominium sale price of $215,033 in 2019 was lower than the $234,502 reported during the same period in 2018.

UNIT RENTALS

The monthly rental rate for condominiums, townhomes, apartments increased from $1,696 in 2018 to $1,791 for the same period in 2019.

AVERAGE DAYS IN THE MARKET HOME SALES

On average, single family home sales in Guam take about 6 months to sell from date listed to date closed vs. the closings for the same period in 2018 at 4 months.

HOME RENTALS

In 2019, home rentals took about 8 weeks from date listed to date closed vs. the closings for the same period in 2018 at 9 weeks.

Interest rates are still very attractive with fixed rates hovering above four percent (4%). The inventory of homes on the market provides buyers with a good selection of properties to choose from. Coupled with low interest rates, it’s a great time to buy. ~ Anthony Godwin, Principal Broker

UNIT SALES

Unit sales in Guam took about 3 months to complete transactions in 2019. Compare this to the closings for the same period in 2018 at about 3 months.

UNIT RENTALS

In 2019, unit rentals took about 8 weeks from date listed to date closed. Compare this to the 9 weeks for closings during the same period in 2018.

*Statistics from Guam Multiple Listing Service from January 1, 2019 through April 1, 2019. **Statistics from Guam Multiple Listing (MLS) from January 1, 2018 through April 1, 2018. Transactions not reported to the Guam Multiple Listing Service (MLS) are not included in this presentation. Information deemed reliable but not guaranteed. Entire contents, including but not limited to, content, design and concept Copyright ©2019 by LG&G Corporation. All rights reserved.

MEET OUR AGENTS

Angie Camacho 671.687.0483 angie@guamhome.com

Beverly Brady 671.688.8550 beverly@guamhome.com

Carmen Mesa 671.777.6372 carmen@guamhome.com

Chad Knapp 671.777.6520 chad@guamhome.com

Fiona Hocking 671.988.9982 fiona@guamhome.com

Fumiyuki Takahara 671.488.5502 fred@guamhome.com

Hui Gallagher 671.689.4881 hui@guamhome.com

Jackie Calvo 671.687.5050 jackie@guamhome.com

Michael Kumar 671.988.6900 michael@guamhome.com

Ray Rupley 671.685.5070 ray@guamhome.com

Sandy Yow 671.687.6006 sandy@guamhome.com

Sharmila Sahni 671.483.7125 sharmilasahni@yahoo.com

Anthony Godwin 671.688.8198 anthony@guamhome.com Principal Broker | REALTOR®

John Lin 671.688.8518 john@guamhome.com Vice President | REALTOR®

Work with the Proven Market Leader

Christine Campos 671.682.2412 christine@guamhome.com

Clariza Samaniego 671.747.7440 clariza@guamhome.com

Dennis Couzijn 671.727.3815 dennis@guamhome.com

Duane Pahl 671.689.7777 duane@guamhome.com

Janet Calvo 671.687.1841 janet@guamhome.com

Jason Young 671.685.2059 jason@guamhome.com

Julie Paxton 671.687.6900 realestate@guam.net

Kimberly Ada 671.489.5232 kima@guamhome.com

Shawntel Techaira 671.483.7368 shawntel@guamhome.com

Suzanne Naputi 671.482.6426 suzanne@guamhome.com

Vicki Anderson Estes 671.687.3558 vicki@guamhome.com

Yumiko Blaisus 671.688.7791 yumiko@guamhome.com

Thinking about a career in real estate? We can help!

CLOSED BY TODAY’S REALTY

Tamuning Home | $2,300/mo Days on market: 145 | MLS ID: 18-4207

Harvest Gardens Condo | $240,000 Days on market: 133 | MLS ID: 18-4560

Ypao Gardens Condo | $2,205/mo Days on market: 174 | MLS ID: 18-3929

Mangilao Land | $76,000 Days on market: 39 | MLS ID: 19-692

Tamuning Unit | $2,450/mo Days on market: 40 | MLS ID: 19-796

Barrigada Heights Home | $3,000/mo Days on market: 25 | MLS ID: 19-888

A collection of recent properties closed by our REALTORS®

Villa Rosario Condo | $184,000 Days on market: 132 | MLS ID: 18-4014

Sinajana Home | $520,000 Days on market: 48 | MLS ID: 19-411

Dededo Home | $1,400/mo Days on market: 29 | MLS ID: 19-679

Barrigada Home | $300,000 Days on market: 53 | MLS ID: 19-609

Tamuning Land | $4,350,000 Days on market: 0 | MLS ID: 19-1160

LeoPalace Resort Condo | $1,600/mo Days on market: 1 | MLS ID: 19-1226

ON THE COVER 396 CHALAN KARETAN TROSU, DEDEDO For Sale $435,000 $10,000 Seller Credit to Buyer for Closing Costs! Be the proud owner of this NEW four bedroom 2 bath home. This property features a generous great room just off the incredible kitchen fit for a gourmet! Master suite includes ensuite bath and wardrobe. Bedroom adjacent to the master suite can be purposed as a bedroom, nursery, office, or to your liking. The remaining spacious two bedrooms are along a separate hallway with full bath. Indoor laundry with convenient separate access to rear yard. Double car - carport includes a bathroom for parties or quick cleanup. Yard is fenced and gated. Priced over 25,000 BELOW most recent (2018) appraisal. Ask your REALTOR for a copy of the floor plan.

MLS ID# 19-1015

WHY ARE SURVEYS IMPORTANT? Have you ever wondered where your property boundaries were? Have you ever wondered if your house sits properly within the setback requirements? Have you ever wondered how far away your property line is from access? Have you ever wondered how far your property line is from utility connections? Have you ever wondered how close your neighbors house is to your property line? Have you ever wondered if the fence that sits on your property line really is yours? Have you ever wondered if your property is big enough to be subdivided? Have you ever wondered if your property could be subdivided and given to your children? Have you ever wondered the actual size of your property? Have you ever wondered what is the actual dimensions of your property? All of these questions lead to one answer,

YES, surveys are extremely important. Depending on your use, whether it’s commercial or residential, or agricultural, surveys will help you understand more about your property. If you have more questions? Your questions are always welcomed. See you next month Guamies!

“Make the call!” BY DUANE C. PAHL, R E A LT O R ® 671.689.7777 | DUANE@GUAMHOME.COM DUANEPAHL.COM

ESTOPPEL CERTIFICATES What is an estoppel certificate? Generally speaking, it is a certified statement made by an owner or by a tenant that confirms the current status of the lease between the owner and tenant. When the owner of a commercial building decides to sell or refinance the property, it is common for the buyer or lender to request the owner provide tenant estoppel certificates in order to determine if the tenant leases are in full force and effect. The process will also ensure that the buyer or lender has a complete copy of the tenant lease and any amendments thereto. This action is intended to prevent any surprises when a new owner buys the property or a lender forecloses and takes ownership. Let’s say that same owner of the commercial building is leasing the land the building is located upon. A buyer or new lender would want the fee simple owner to sign an estoppel certificate to guaranty the ground lease is not in default. Typical items addressed by an estoppel certificate include: • Starting date and term of the lease • Any and all amendments to the lease • Statement that the lease is in full force and effect and has not been modified other than by existing amendments. • Amount of Security deposit being held by owner • Amount of current monthly rent being paid and if there are any past due rents or prepaid rent. • Assurance by the tenant that the landlord is not in default of the lease. • Assurance by the fee simple landowner that the lease is not in default. The word estoppel is derived from “estop”, meaning to stop. It prohibits a tenant from taking a position or saying something contrary to what they have certified in the estoppel certificate, so an estoppel certificate is a document to be taken seriously. Occasionally there will be verbal agreements between the owner and tenant that can come to light in an estoppel certificate. Estoppel certificates may also be drafted in such a manner that they give a new lender rights that were not present in the original lease, (effectively amending the lease). A common example of such an amendment is a statement that the lender can assume the lease if the tenant defaults. Most commercial leases require that a tenant sign an estoppel certificate within a reasonable time frame in order for an owner to be able to finance or sell the property. Some leases go so far as to state if the estoppel is not received within a certain amount of time, the certificate is deemed approved by the tenant! While they are valuable tools in the real estate transaction, estoppel certificates are serious documents with far reaching consequences. If presented with one, I would make my first call to a real estate attorney for guidance through the process.

BY KIM ANDERSON YOUNG PRESIDENT, SECURITY TITLE, INC.

KIM@SECURITYTITLE.NET | 671.647.8100 FINDING SIMPLE SOLUTIONS TO COMPLEX REAL ESTATE TRANSACTIONS.

LISTED BY TODAY’S REALTY

15 GOLF VILLA, LEOPALACE RESORT, YONA

2C AGANA OCEANVIEW CONDO

Looking for a place with a resort feel without the crowd? Well, look no further. Welcome to LeoPalace Resort, your home away from home. This resort has everything you will need without having to leave the property.

Rare opportunity to purchase a large 3 bedroom, 2 bath, second floor unit at Agana Ocean View. Partial ocean views, and very high ceilings, and an extra-large master bedroom have made this a favorite place for years! Extra storage, inside laundry & more!

117B PALM COURT, TAMUNING

BISHOP A. S. APURON ST, SANTA RITA LAND

For Rent $2,600/mo | MLS ID: 19-1162

For Sale $224,999 | MLS ID: 19-1209

For Rent $1,500/mo | MLS ID: 19-1306

For Sale $90,000 | MLS ID: 19-1336

Newly upgraded 3 bedrooms, 1 bath duplex with new appliances. Close to restaurants, shopping mall, clinics, hospital and much more. Call your favorite Realtor TODAY!

Lot with southern exposure, view of Naval Magazine and a bit of Fina Lake, with 2,023+/- square meters located on Bishop Apuron, Santa Rita.

A collection of properties featured for Rent or Sale by our REALTORS®

53 NIMITZ DRIVE, NIMITZ ESTATES, PITI

ROUTE 4, YONA LAND

For Rent $2,800/mo | MLS ID: 19-1238

For Sale $440,000 | MLS ID: 19-1289

Welcome to Nimitz Estates! A very family and pet friendly community. This spacious, and very well kept home is ready for your immediate occupancy. Fully fenced and gated with a large carport. Come and take a look at this elegant home today!

INVESTOR /DEVELOPER ALERT!!! BEAUTIFUL, relatively flat lot, more than 2 acres, with Route 4 frontage! Rezone as you need or want... and BUILD!!! Tons of potential with a huge return! Accessible utilities!

183 CONSOLACION STREET, ASAN

306B FR. FERDINAN WAY B, SANTA RITA

Enjoy this beautiful ocean view, 4bd/3ba home with amazing sunrise and sunsets. Extra large master bedroom with spectacular ocean view. Close to Naval Hospital, Naval Station and the capital city of Guam - Hagatna.

Interior of this particular 3 bedroom unit has been completely renovated with a touch of class. All new stainless appliances, washer, dryer, microwave... Bar B Que in the back covered patio, fully fenced in yard with friends and relax with a nice cold one.

For Rent $3,500/mo | MLS ID: 19-1338

For Rent $2,205/mo | MLS ID: 19-1328