Today's Guamhome August 2016 by Todays Realty

Contents 02

MARKET REPORT

MEET OUR AGENTS

GUAM IS OUR HOME

SOLD BY TODAY’S REALTY

Residential Market Snapshot from January 1, 2016 to August 1, 2016

WELCOME TO OUR VILLAGES!

A collection of recent homes sold by Today’s Realty

elcome to the 2016 August issue of Today’s Guamhome newsletter. It is our honor to present this collection of beautiful homes for your review. My team of over 20 agents and associate-brokers 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

Executive Piti Home

INCREASE THE VALUE OF YOUR HOME

Anthony Godwin Principal Broker / REALTOR®

3 TIPS TO KEEP IN MIND

JUST LISTED

ADVERSE INTERESTS

Recently listed properties in the market.

UNDERSTANDING YOUR CREDIT SCORE 5 REFINANCING TIPS

Today’s Realty agents and staff during our holiday luncheon

TODAY’S REALTY EVENTS

FOR THOUSANDS OF LISTINGS VISIT

www.guamhome.com

CLOSED BY TODAY’S REALTY

Chalan Binadu, Yona • $455,000

East-West Business Center • $928.40/mo

Paradise Estates, Dededo • $2,500/mo

Las Palmas Ph. I • $210,000

Days on market: 282 | MLS ID# 16-1133

Days on market: 126 | MLS ID# 16-1064

Days on market: 11 | MLS ID# 16-2500

Days on market: 179 | MLS ID# 16-366

Harvest Residences • $242,700

Tumon Heights Road, Tumon • $112,500

Days on market: 86 | MLS ID# 16-1478

Days on market: 24 | MLS ID# 16-2337

A collection of recent properties closed by our REALTORS®

Y-Sengsong Road, Dededo • $237,500

Estralita Street, Tamuning • $1,800/mo

Chalan Ahi, Dededo • $2,700/mo

North Paulino Heights, Talofofo • $353,000

Alupang Cove • $2,250/mo

Apugan, Agana Heights • $2,205/mo

Days on market: 186 | MLS ID# 16-394

Days on market: 44 | MLS ID# 16-2233

Days on market: 49 | MLS ID# 16-2016

Days on market: 13 | MLS ID# 16-2498

Days on market: 20 | MLS ID# 16-287

Days on market: 19 | MLS ID# 16-2387

ON THE COVER

213 Mama Sandy, Piti Residence

For Rent $4,400/mo | Guamhome.com/16-2334 Beautiful executive homes with amazing ocean and mountain views! Great roof top terrace perfect for entertaining or just enjoying views of your lush surroundings. Two bedrooms have private balconies to enjoy gorgeous sunsets from. Kitchen is equipped with stainless steel appliances and granite counter tops. The spacious living room is bright and airy- ideal for family gatherings and activities. Large 2 car garage and gated entry to the home for privacy.

LISTED BY TODAY’S REALTY A5 San Vitores Terrace

For Rent $1,925/mo | Guamhome.com/16-2696 This spacious 2 bedroom, first floor, and very well maintained unit will surprise your most selective tenants! Enclosed stacked washer and dryer, a stove and a refrigerator make this adorable home beckon you!

638 Ch. Padiron Haya, Yigo For Rent $4,000/mo Guamhome.com/16-2379

Beautiful and spacious 4bd/3ba home right off of Route 15. Just minutes from Andersen Air Force base. Yard space, amazing kitchen, panoramic views, security system, water purifier, and water softener.

110 Ch. Tasi, Ordot-Chalan Pago For Sale $474,400 | Guamhome.com/16-2560

Modern & gorgeous ‘open style’ executive home with plentiful kitchen cabinet storage space adorned with granite counter tops plus center island counter top. Just a stroll to one of Guam’s eastern sandy beach on renowned Pago Bay. Entire contents, including but not limited to content, design and concept Copyright ©2016 by LG&G Corporation. All rights reserved. Anthony R. Godwin • Principal Broker

A collection of properties featured for Rent or Sale by our REALTORS® 230 Nino Perdido Street, Asan

160-1 Chalan Ayuyu, Yona

For Rent $4,400/mo | Guamhome.com/16-2736

For Rent $2,045/mo | Guamhome.com/16-2761

Extremely spacious home! In a nice neighborhood close to the beach and more. Amazing ocean views, a huge second floor balcony perfect for having get togethers and 2 rooms with their own separate bathrooms upstairs.

Ocean views don’t get better than this. This 2 bedroom unit has many unique and unusual features... but mostly it has huge bay windows right over the ocean. It’s simply beautiful. Unit is situated at the end of a quiet cup de sac.

215 Bamba Street, Mangilao For Rent $4,400/mo | Guamhome.com/16-2361

This executive home is near the Mangilao Golf Course Clubhouse. This 4bd/4ba home includes 2 car garage, fully fenced, beautiful ocean views from 2nd & 3rd floor balcony, & the 3rd floor pavilion is perfect for entertaining.

Adverse Interests Occasionally in the course of our title research we find the interest of a person or company that does not fit the mold. We call that an “adverse interest”. The definition from Nolo’s Plain-English Law Dictionary states “an adverse interest is a right or concern that’s contrary to the interest or claim of another”. This morning our senior title examiner shared with me the following chain of title on a fee simple lot containing a four unit apartment building: • Juan and Juana Castro deeded the entire property to their corporation, JJ Castro, Inc. • JJ Castro, Inc. deeded Unit 1 of the building to their son John. • JJ Castro, Inc. deeded the entire property to (Mom) Juana Castro • Juana Castro gave a deed for Unit 2 of the building to daughter, Juanita, but retained a life estate for herself. • Juana Castro gave a deed for Unit 3 of the building to daughter Teresita, but retained a life estate for herself.

So who owns the property? Drum roll please…. The property is owned by Juana Castro, subject to the following:

interests such as squatter’s rights or adverse possession, but those will require an article of their own.

• Adverse interest of son John, as to Unit 1 • Adverse interest of daughter Juanita as to Unit 2 • Adverse interest of daughter Teresita as to Unit 3

Be Safe when dealing with real estate transactions! Contact the professionals at Security Title for a title report showing the ownership of the property and any adverse interests that might appear in the public record. Then follow up your purchase with a title insurance policy protecting you against adverse interests!

Juana has the right to occupy and manage Units 2 and 3 during her lifetime, but when she passes away, her two daughters have the right to the management of those units. However, since the property is still in one piece and has not been converted into a condominium, the fee ownership remains in Juana’s name and would be subject to probate upon her death. Common example of adverse interests include: • Easements across the property for the benefit of neighboring properties. • Licenses to use portions of the property, perhaps for an encroachment or overhang.

by Kim Anderson Young PRESIDENT, SECURITY TITLE, INC.

kim@securitytitle.net | 671.647.8100

Finding simple solutions to complex real estate transactions.

There are also more dire adverse

Understanding Your Credit Score ...and its Effect on Purchasing a Home By Keith Loria If a home purchase is in your future, one thing you absolutely have to think about is your credit score. No matter what your timing looks like, it’s a good idea to think about it sooner rather than later, because having a good credit score can be the difference between obtaining the mortgage you need to buy your dream home—or settling for less because you didn’t qualify for the money you need. Unfortunately, many prospective buyers don’t think about their credit score until they’re already in buying mode. And more often than not, at this point, it may be too late to do anything to fix your credit score. Therefore, it’s important to remember that if you have a bad credit score, it’s not something that can be fixed overnight or by simply making a phone call. If you’re not sure where you even stand on the credit score spectrum, the first thing you’ll want to do is obtain a copy of your credit report. Your report will list all the details that were used to calculate your score, including past payment information concerning loans, credit cards and other bills. According to the Federal Trade Commission, nearly five percent of consumers have a major error on their credit reports, and approximately 25 percent of all reports have some sort of error that can negatively affect a score. Once you receive your credit report, look it over and make sure there are no errors or discrepancies. For instance, if there’s an entry for an outstanding bill on a credit card or a late payment on a car loan that’s incorrect, you’ll

want to take action quickly, as these items will lower your credit score. Be sure to dispute any errors you find with the Credit Bureau. If there are no mistakes within your report, and your score isn’t where you want it to be, there are a number of things that can be done to gradually increase your number. To start, make a list of the money you owe and start paying off any debts you may have incurred over the years. Eliminating debt is the best way to see your score rise. Also, be sure to pay everything on time path forward. Late payments are seen as a huge negative when it comes to your credit report and overall score. You’ll also want to refrain from opening any new accounts or taking out other loans, as this will simply add to the problem. Be sure to stay away from closing accounts that you have a strong history with as well. By closing accounts, you run the risk of eliminating a good payment record. And last but not least, beware that debts that get sent to a collection agency typically stay on your report for years. While most people think paying these items off will cause them to vanish from their credit report, it’s simply not true. If you feel that all hope is lost, there are agencies out there that you can pay to help you improve your report and remove negative items. Before you go this route, think about the expense you’ll be incurring, and whether it’s worth it in the long run. Checking your credit score is something you should think about doing annually regardless of whether you’re planning to move or not. By keeping up to date with your report, your credit score will be solid when you’re ready to buy your next home. To learn more about understanding your credit score, contact our office today. Reprinted with permission from RISMedia. ©2016. All rights reserved.

5 Refinancing Tips You Can’t Afford to Ignore

Today’s Realty Events

By Keith Loria

It’s no secret that the past couple years have been an opportune time to refinance a mortgage as mortgage rates were hitting historic lows. In fact, according to the Mortgage Bankers Association, the average interest rate on a 30-year fixed-rate mortgage was 3.49 percent near the end of July, down from 4.2 percent at the same time last year, and 3.9 percent from January. Not only can refinancing a mortgage save you money, it can also help you pay off your home quicker, and will even unlock more equity in your home. If you’re looking to take advantage of today’s low mortgage rates, keep the following items in mind, as they may jeopardize the process. 1. Waiting too long. While rates have been low for some time now, with some experts predicting they’ll go even lower, the upcoming election may lead to unpredictability. With low rates like the ones we’re seeing today, time is of the essence, so be sure to refinance sooner rather than later. 2. Not being prepared. When your lender calls or emails asking for information, don’t put it off. Have your documentation and financial information ready so that you can sign it in a timely manner. The last thing you want to do is plan to refinance your home when you’re going to be out of town on vacation, as this will most likely keep you from being able to get everything in place before you’re out of pocket. 3. Not shopping around. Even if you’re happy with your current lender, it doesn’t mean that you need to stay with them. Shop around and make sure you’re getting the best deal out there. Even a little difference in rates can save a lot of money over the course of a mortgage. If you find a better deal, let your lender know. They may even be willing to match. 4. Adding to your loan term. When faced with refinancing, some people decide to add to the number of years of their loan term, lowering their monthly payments, but increasing the total amount of interest over time. Conversely, lowering the terms by five or 10 years can save you a lot, so if you want to change the years, make it lower. 5. Forgetting closing costs. When you refinance a home loan, it’s important to remember that you’ll most likely have to pay closing costs, including a loan application fee, appraisal fees, title fees and attorney’s fees. Be sure you have this money on hand. By making smart decisions, your refinancing can be a smooth experience. To learn more about refinancing, contact our office today. Reprinted with permission from RISMedia. ©2016. All rights reserved.

The Today’s Realty team received some valuable tips on home staging during our weekly Wednesday meetings. 14