Today's Guamhome February 2016 by Todays Realty

Contents 02

MARKET REPORT

MEET OUR AGENTS

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

GUAM IS OUR HOME

SOLD BY TODAY’S REALTY

WELCOME TO OUR VILLAGES!

A collection of recent homes sold by Today’s Realty

JUST LISTED

ON THE COVER

NEGOTIATIONS

CLOUDS ON TITLE

elcome to the 2016 January 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! Anthony Godwin Principal Broker / REALTOR®

Recently listed properties in the market.

Chalan Binadu Road, Yona Residence

10 MONEY WASTING HABITS YOU CAN DITCH

KEEP YOUR HOME PURCHASE ON TRACK TODAY’S REALTY EVENTS

Today’s Realty agents and staff during our holiday luncheon

FOR THOUSANDS OF LISTINGS VISIT

www.guamhome.com

CLOSED BY TODAY’S REALTY

Segundo Street, Tamuning Unit • $2,200/mo

Tumon View Plaza Unit • $1,900/mo

Mamis Street, Mangilao • $2,500/mo

Antanacio Street, Mangilao • $2,600/mo

Route 3, Dededo Land • $520,000

Antanacio Street, Mangilao • $2,450/mo

Days on market: 24 | MLS ID# 16-80

Days on market: 23 | MLS ID# 16-114

Days on market: 1,461 | MLS ID# 12-321

Days on market: 48 | MLS ID# 15-3992

Days on market: 41 | MLS ID# 15-4040

Days on market: 15 | MLS ID# 16-201

A collection of recent properties closed by our REALTORS®

Canada Road, Barrigada • $2,900/mo

Borja Street, Barrigada • $2,900/mo

Chaco Road, Yona • $2,300/mo

Off Juan Muna Street, Mangilao Lot • $38,000

Father Duenas, Tamuning • $1,000,000

Chalan Munoz, Dededo Land • $80,000

Days on market: 75 | MLS ID# 15-3761

Days on market: 44 | MLS ID# 15-3950

Days on market: 183 | MLS ID# 15-2374

Days on market: 83 | MLS ID# 15-3582

Days on market: 50 | MLS ID# 15-3568

Days on market: 33 | MLS ID# 15-4021

209 N. Paulino Heights, Talofofo For Sale $375,000 | Guamhome.com/16-287 Be the first to own this 2016 modern design 3 bedroom, 3 bathroom brand new home in Ipan. Open concept, cathedral ceilings, quality design, ceiling fans in every room, white picket fence with an electric remote gate & more.

174 N. Perino Street, Agat For Sale $125,000 | Guamhome.com/16-413 Here’s your opportunity to own a duplex of 2bd/1ba units in the southern town of Agat. Nearby shopping, bank, navy base, schools, restaurants and beaches. Bring your contractor along and create your dream investment property.

161 Oceanview Drive, Piti For Sale $535,000 | Guamhome.com/15-4027 You’ll love this gorgeous 4bd/4ba home with a large family room in a great neighborhood. One acre lot with fruit bearing trees, blossoming bamboo trees at the entry and spacious carport for 3 cars. 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

Alupang Cove Townhome B

801 Oceanview Residences

For Sale $739,000 | Guamhome.com/16-430

For Rent $3,500/mo | Guamhome.com/16-490

Enjoy this gorgeous beachfront townhome and all the views it has to offer. Treat yourself to the waters of Agana Bay and the majestic sunsets found only on Guam or take a dip in the warm, azure swimming pool!

Enjoy 1927+/-sf of living space on the top floor with views of Tumon Bay. Listen to the ocean waves come in while drinking a cup of coffee or having your favorite drink. Set up your own outdoor patio furniture and enjoy the island sunsets.

140 Chalan Kareta, Dededo For Rent $2,450/mo | Guamhome.com/16-128 This 3bd/2ba home boasts an island style open living, dining & kitchen spaces as well as high ceilings. Built on a 929+/-sm lot that is fully fenced & gated. Located within minutes to both northern military bases, NCTS/NCS & AAFB.

Chalan Binadu Road, Yona Residence For Sale $498,500 | Guamhome.com/15-3523 This spacious 4 bedroom, 2.5 bath home boasts an open floor plan with cathedral ceilings throughout. Having seen only one owner, it still maintains a “new” wow factor with many amenities. A solar water heater system, generator plus shed, water softener and an enclosed garage to name a few. From a 934+/-sm lot with a large outdoor lanai one can enjoy the typical Talofofo breezes and an easterly partial view of the ocean. Don’t miss out on this island jewel.

Clouds on Title (aka Title Defects)

property with a “cloud on the title” refers to an irregularity in the chain of title that raises the question of a potential risk or threat to the buyer. A cloud on the title is generally less threatening than a defect in the title, however both may have the effect of reducing the value and marketability of a property because a prospective buyer knows they are acquiring a possible problem with the property. Examples of clouds and defects in the chain of title include: •

•

Missing Documents, also called a “break in the chain of title”. Not only refers to deeds, but powers of attorney granting authority for someone to sell property. Another example of a missing document would be if an owner dies and there is no probate (and no spouse with community rights interests). Lack of a decree of distribution from the probate court would constitute a title defect. A variance or misspelling to the names of previous buyers and sellers. A

•

• • • •

woman who acquires title in one name but sells under a different name. All parties executing deeds. A brother and sister purchase the property, but only the sister signs the deed to sell it. The brother’s interest would remain in his name. A mortgage lien that has not been released. Unpaid property taxes. Conveyance by a minor, or an incompetent person without the benefit of court approval. Conveyance into a trust could be a defect, in that in most jurisdictions, title is properly vested in the Trustee of a Trust, not the Trust itself.

So, how do you fix a cloud or title defect? Each situation is unique, but many issues can be resolved by relying on a statute, filing of an affidavit or by placing a corrective document into the public record to correct the defect. For example: • •

Locating the mortgagee under an unreleased mortgage and having them sign a release. A woman who acquired the property when single can correct her name on the chain of title by recording an

•

Affidavit of Identity. Missing deeds are often located in home records when parties did not realize that recording was necessary.

When other remedies are exhausted, it may be necessary to find a good real estate attorney to file a quiet title action to clear the title. Kim Anderson Young, president of Security Title, has over 30 years of experience in the real estate industry.

by Kim Anderson Young PRESIDENT, SECURITY TITLE, INC.

kim@securitytitle.net | 671.647.8100

Finding simple solutions to complex real estate transactions.

Keep Your Home Purchase on Track Article From BuyAndSell.HouseLogic.com By: G. M. Filisko

If you have 10 days to get a home inspection, call the inspector immediately.

5. Consider deadlines immovable. Get your funds together a week or so before the closing, so you don’t have to ask for a delay. If you’ll need to bring a certified check to closing, get it from the bank the day before, not the day of, your closing. Treat deadlines as sacrosanct.

Published: March 30, 2010

ou’ve found your dream home. Make sure missteps don’t prevent a successful closing.

A home purchase isn’t complete until you make it to the closing. Until then, the transaction can fall apart for many reasons. Here are five tips for avoiding mistakes that cause a home sale to crater. 1. Be truthful on your mortgage application. You may think fudging your income a little or omitting debts when applying for a mortgage will go unnoticed. Not true. Lenders have become more diligent in verifying information on mortgage applications. If you fib, expect to be found out and denied the loan you need to fund your home purchase. Plus, intentionally lying on a mortgage application is a crime. 2. Hold off on big purchases. Lenders double-check buyers’ credit right before the closing to be sure their financial condition hasn’t weakened. If you’ve opened new credit cards, significantly increased the balance on existing cards, taken out new loans, or depleted your savings, your credit score may have dropped enough to make your lender change its mind on funding your home loan. Although it’s tempting to purchase new furniture and other items for your new home, or even a new car, wait until after the closing. 3. Keep your job. The lender may refuse to fund your loan if you quit or change jobs before you close the purchase. The time to take either step is after a home closing, not before. 4. Meet contingencies. If your contract requires you to do something before the sale, do it. If you’re required to secure financing, promptly provide all the information the lender requires. If you must deposit additional funds into escrow, don’t stall.