Today's Guamhome February 2017 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, 2017 to February 1, 2017

WELCOME TO OUR VILLAGES!

A collection of recent homes sold by Today’s Realty

elcome to the 2017 February 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

Serene Beachfront Umatac Home

WHY ARE YOU AFRAID TO BUY?

Anthony Godwin Principal Broker / REALTOR®

2017: THE YEAR OF GEN X, MINORITY HOMEBUYERS

JUST LISTED

ESTOPPEL CERTIFICATES

Recently listed properties in the market.

THEN COMES MARRIAGE…OR A HOUSE BUY OR RENT?

Today’s Realty agents and staff during our holiday luncheon

FOR THOUSANDS OF LISTINGS VISIT

www.guamhome.com

CLOSED BY TODAY’S REALTY

Merizo Home • $2,000/mo

Asan Home • $2,205/mo

Days on market: 60 | MLS ID# 16-4067

Days on market: 65 | MLS ID# 16-4045

Agana Bay Condo • $2,800/mo

Santa Rita Home • $2,205/mo

Days on market: 28 | MLS ID# 16-4574

Days on market: 28 | MLS ID# 16-3953

Tamuning Unit • $2,300/mo

M-T-M Home • $2,047/mo

Days on market: 40 | MLS ID# 16-4506

Days on market: 18 | MLS ID# 16-4516

A collection of recent properties closed by our REALTORS®

Piti Home • $4,000/mo

Mangilao Home • $2,450/mo

Days on market: 66 | MLS ID# 16-3870

Days on market: 39 | MLS ID# 16-4421

Yona Home • $335,000

Tamuning Home • $560,000

Days on market: 152 | MLS ID# 16-2459

Days on market: 67 | MLS ID# 16-4015

Yigo Home • $999/mo

Yigo Home • $4,400/mo

Days on market: 201 | MLS ID# 16-2428

Days on market: 46 | MLS ID# 16-4186

ON THE COVER

619 Kanton Tasi, Umatac

For Rent $4,395/mo | Guamhome.com/17-48 Historical Umatac by the sea shore. Unbelievable ocean views of Cocos Island & Bile Bay with at least one pod of dolphins that occasionally visit off shore. Three bedrooms & 3 full baths. Open style kitchen, separate island counter top/breakfast bar all overlooking bay and ocean vista. Situated on a 2,746+/square meter lot. Traffic flow to & from this village is not congested or gridlocked. Beautiful travel route! A definite oneof-a-kind location & home.

LISTED BY TODAY’S REALTY Tumon Commercial Space For Rent $3,465/mo | Guamhome.com/16-1123 A well-known popular meeting place, an iconic landmark, prestigious office spaces and set on the edge of Tumon’s Pleasure Island, let this location be your next successful venture! Pacific Place is Tumon’s major activity hub.

186 Paradisu Estates, Talofofo For Rent $3,800/mo | Guamhome.com/17-428

You won’t want for anything in this spacious Brand NEW home! 3bd/2.5ba. Enclosed Two car garage, large yard, a floor plan to be excited about and all the finishing touches to make your spirit sing. See why this lovely home should be yours.

260 Route 4, Ordot-Chalan Pago For Rent $1,700/mo | Guamhome.com/16-3423

Centrally located in the village of Chalan Pago, this renovated 3 bedroom 2 bathroom home is clean and ready to move in. Take a look today! 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® 564 N. Dionisio, Umatac

Apusento Gardens Condo

For Rent $2,205/mo | Guamhome.com/17-453

For Rent $2,200/mo | Guamhome.com/17-526

Designer kitchen with enough room for all the chefs in the family. Easy to maintain ceramic tile floors. Home was beautifully remodeled throughout (kitchen, bathrooms, all windows replaced + more). 4bd/2ba.

Beautifully renovated and furnished 2bd/2ba unit just waiting for you! Includes dishwasher, flat screen tv, granite counters, designer furniture and modern kitchen and bathrooms. Just a few minutes to naval hospital.

103 Bamba Street, Tumon

For Rent $2,600/mo | Guamhome.com/17-313

Spacious, luxury, elegant and open concept living is at your door step. This centrally located 3 bed, 2 bath condo is truly done right to meet all your needs. Walking distance from all the amenities you would need to enjoy your life here on the island.

Estoppel Certificates

• •

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.

What is an estoppel certificate? Generally speaking, it is a certified statement made by • a tenant that confirms the current status of the lease between the owner and tenant. The word estoppel is derived from “estop”, When the owner of a commercial building meaning to stop. It prohibits a tenant from decides to sell or refinance the property, it is taking a position or saying something common for the buyer or lender to request the contrary to what they have certified in the owner provide tenant estoppel certificates in estoppel certificate, so an estoppel certificate order to determine if the lease is in full force is a document to be taken seriously. and effect. The process will also ensure that the buyer or lender has a complete copy of Occasionally there will be verbal agreements the lease and any amendments. This action between the owner and tenant that can come is intended to prevent any surprises when to light in an estoppel certificate. a new owner buys the property or a lender Estoppel certificates may also be drafted in forecloses and takes ownership. such a manner that they give a new lender Typical items addressed by an estoppel rights that were not present in the original lease, (effectively amending the lease). A certificate include: common example of such an amendment is • Starting date and term of the lease a statement that the lender can assume the • Any and all amendments to the lease • Statement that the lease is in full force 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.

Then Comes Marriage…or a House More young homebuyers today are unmarried couples—in fact, according to a recent analysis by Zillow, 15 percent of homebuyers aged 24-35 are unmarried couples, up 4 percent from 2005. The trend, says Zillow Chief Economist Dr. Svenja Gudell, is taking off due to limited affordability, compounded by out-of-reach home values. “Buying a home is a big part of the American Dream—equally shared by millennials and baby boomers alike—but it’s becoming extremely difficult to make it work on a single income,” Gudell says. Seventy-five percent of all homebuyers are in a relationship or married, according to Zillow, and the majority hunted for a house with a significant other. Other studies have indicated similar shifts away from conventional milestones related to homeownership. One report reveals 25 percent of married millennial couples purchased their home together before their wedding day. Where are unmarried couples taking the plunge? Las Vegas— coincidentally—had the highest share of unmarried homebuyers in 2015, at 23.8 percent, followed by Philadelphia at 23.4 percent and St. Louis at 19.9 percent. Portland, Ore., where home values appreciated the most in 2016 at 13.8 percent, also saw a considerable amount of unmarried homebuyers take to the market: 19.4 percent.

As more unmarried couples become homeowners, however, less singles do the same. Twenty-five percent of homebuyers aged 23-25 are single, compared to 28 percent in 2005, according to the analysis. “Many singles looking to purchase a home on their own may not make enough money to afford or qualify for a mortgage on their dream home,” says Gudell. “That makes buying a home with a significant other even more appealing, even if marriage isn’t quite part of the picture. Simply put, buying a home is much easier with two incomes. Assuming home value growth continues to outpace income growth, I imagine this trend will continue.” For more information, please visit www.zillow.com. Reprinted with permission from RISMedia. ©2017. All rights reserved.

Buy or Rent? How to Decide Which Living Option Is Best for You

Today’s Realty Events We celebrated the Year of the Rooster with a traditional Lion Dance performed by the students from the Chinese School of Guam.

By Emma Sturgis Should you buy or rent? Most people ask themselves this question at one point or another, and there’s no clear correct answer. Before you give up in frustration, take some time to ask yourself the following questions. How Stable Is Your Lifestyle? Are you the kind of person who likes to stay in one place, or do you like to move around? If your life is relatively stable and you are looking to put down roots, buying a home is probably a good idea. If you are looking to move around or you are willing to pick up stakes for your job, you should consider renting. What Are Your Plans for the Near Future? Your plans for the near future are also very important for deciding whether you will rent or buy. If you are planning on expanding your family, for example, it might be a good idea to buy a home that’s bigger than most apartments. Likewise, if you are planning to move soon, you’ll want to rent. Issues like adopting a pet, taking long trips or even major medical decisions can influence whether purchasing a home is the right move in your life. What’s Important to You? You should also take a few moments to consider what’s important for you in terms of a living situation. Do you like privacy, stability, and the feeling of owning your own home? If so, then you’ll want to buy. Do you prefer amenities, a community, and putting the responsibility for home care and maintenance in the hands of professionals? That might mean you want to rent. There’s not a right or wrong answer here, so take some time to come to your own conclusion. Who Is Helping You? Finally, think about who’s helping you to make this choice. If you work with professionals, you’ll have a better chance to see more properties and make a more informed decision. One of the worst moves you can make when making this decision is to rush forward without enough information. Always make sure you let a real estate professional help you in your search. Deciding whether to rent or buy is always a deeply personal decision. Take some time and think things over, then work with a professional to help you find a living situation that suits your lifestyle. Reprinted with permission from RISMedia. ©2017. All rights reserved.