Today's GuamHome July 2018 by Todays Realty

ISSUE 7

WHAT’S INSIDE Market Report Meet Our Agents Closed by Today’s Realty Just Listed On the Cover

Property Disclosures Faulty Foreclosure?

JULY 2018

Contents W

elcome to the July 2018 issue of Today’s Guamhome newsletter.

It is our honor to present this collection of beautiful homes for your review.

02 03

Residential Market Snapshot from January 1, 2018 to July 1, 2018

Our 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).

MEET OUR AGENTS

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!

MARKET REPORT

We are never too busy for your referrals!

SOLD BY TODAY’S REALTY

ON THE COVER

A collection of recent homes sold by Today’s Realty

Anthony Godwin Principal Broker / REALTOR®

Jun “John” Lin Vice President / REALTOR®

Beautiful Custom Ordot-Chalan Pago Home

PROPERTY DISCLOSURES FAULTY FORECLOSURE?

JUST LISTED

Recently listed properties in the market.

Today’s Realty agents and staff during our 2017 Christmas Party

FOR THOUSANDS OF LISTINGS VISIT

www.guamhome.com

Residential Market Snapshot January 1, 2018 - July 1, 2018

Single Family Homes

Condos • Apts • Townhomes

Homes Sold & Rented

194 Single family homes sold from January 1, 2018 thru July 1, 2018 vs. the 168 homes sold in 2017. However, the strength of the Guam real estate market continues to be residential rentals. Year to date saw an increase in the number of single family homes rented at 407 in 2018 and 371 in 2017. In 2018

Units Sold & Rented

122 Condominium transactions have been completed from January 1, 2018 thru July 1, 2018. Compare this to the 98 closings for the same period last year. Year to date saw a increase in the number of condominiums, townhomes, apartments rented from 552 in 2017 to current year at 564.

In 2017

In 2018

SOLD

RENTED

RENTED 0

100

200

300

400

500

In 2017

100

200

300

400

500

600

Average Sale & Rental Price Single Family Homes

Sales

The average year-to-date home price of $332,937 was signiﬁcantly higher than the $282,566 reported during the same period in 2017.

Rentals

Average single family monthly rentals so far this year decreased from $2,428 last year to current year at $2,340.

Condos • Apts • Townhomes

Sales

The average condominium sale price of $240,793 in 2018 was higher than the $216,500 reported during the same period in 2017.

Rentals

The monthly rental rate for condominiums, townhomes, apartments decreased from $1,660 in 2017 to $1,638 for the same period in 2018.

Average Days in the Market Single Family Homes

Condos • Apts • Townhomes

Sales

Rentals

On average, single family home sales in Guam take about 5 months to sell from date listed to date closed. Compare this to the closings for the same period in 2017 at 5 months.

In 2018, single family home rentals in Guam took about 8 weeks from date listed to date closed. Compare this to the closings for the same period in 2017 at 8 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

It took about 3 months to complete transactions in 2018. Compare this to the closings for the same period in 2017 at about 4 months.

In 2018, condominium rentals in Guam took about 8 weeks from date listed to date closed. Compare this to the 8 weeks for closings during the same period in 2017. *Statistics from Guam Multiple Listing Service from January 1, 2018 through July 1, 2018. **Statistics from Guam Multiple Listing (MLS) from January 1, 2017 through July 1, 2017. 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 ©2018 by LG&G Corporation. All rights reserved.

MEET OUR AGENTS

Angie Camacho 671.687.0483

Anthony Balajadia 671.686.7173

Beverly Brady 671.688.8550

Carmen Mesa 671.777.6372

angie@guamhome.com

anthonyb@guamhome.com

beverly@guamhome.com

carmen@guamhome.com

Fiona Hocking 671.988.9982

Francine Bamba 671.727.8008

Hui Gallagher 671.689.4881

Janet Calvo 671.687.1841

fiona@guamhome.com

sissy@guamhome.com

hui@guamhome.com

janet@guamhome.com

Ray Rupley 671.685.5070

Sandy Yow 671.687.6006

Sharmila Sahni 671.483.7125

Shawntel Techaira 671.483.7368

ray@guamhome.com

Anthony Godwin 671.688.8198

anthony@guamhome.com Principal Broker | REALTORÂŽ

sandy@guamhome.com

sharmilasahni@yahoo.com

shawntel@guamhome.com

John Lin 671.688.8518

john@guamhome.com Vice President | REALTORÂŽ

Work with the Proven Market Leader

Chad Knapp 671.777.6520

Christine San Nicolas 671.682.2412 christine@guamhome.com

dennis@guamhome.com

duane@guamhome.com

Jeremy Looby 671.689.6100

Julie Paxton 671.687.6900

Kimberly Ada 671.489.5232

Michael Kumar 671.988.6900

chad@guamhome.com

Dennis Couzijn 671.727.3815

jeremy@guamhome.com

realestate@guam.net

kima@guamhome.com

Suzanne Naputi 671.482.6426

Vicki Anderson Estes 671.687.3558

Yumiko Blaisus 671.688.7791

suzanne@guamhome.com

vicki@guamhome.com

Duane Pahl 671.689.7777

michael@guamhome.com

yumiko@guamhome.com

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

CLOSED BY TODAY’S REALTY

Yona Unit • $2,205/mo

M-T-M Home • $2,450/mo

Days on market: 53 | MLS ID# 18-1873

Days on market: 35 | MLS ID# 18-2144

Alupang Sunset Garden • $95,000

Barrigada Home • $2,200/mo

Days on market: 17 | MLS ID# 18-2387

Days on market: 38 | MLS ID# 18-2113

Inarajan Home • $335,000

Santa Rita Home • $2,600/mo

Days on market: 62 | MLS ID# 18-1563

Days on market: 46 | MLS ID# 18-1725

A collection of recent properties closed by our REALTORS®

Tumon Vista Condo • $2,205/mo

Pago Bay Unit • $2,500/mo

Days on market: 53 | MLS ID# 18-1819

Days on market: 59 | MLS ID# 18-1735

Agat Home • $2,200/mo

M-T-M Home • $325,000

Days on market: 14 | MLS ID# 18-2359

Days on market: 182 | MLS ID# 17-4396

Dededo Land • $79,000

Perez Acres Townhome • $2,205/mo

Days on market: 157 | MLS ID# 18-68

Days on market: 32 | MLS ID# 18-1946

ON THE COVER

174 Chalan Inda, Ordot-Chalan Pago, Guam For Sale $939,000 | MLS ID# 18-2424

The hills of Pago Bay present remarkable mountain and ocean views, precisely what you see from this extraordinary custom home. Beautiful views, and a beautiful 3500+SF, 4 bdrm/5 bath home on nearly 1/2 an acre of lush property. $15 per month power bills are a plus with the solar panels, and a complete back-up generator, and a 3 car garage. Two master bedrooms, and separate Jack-and-Jill rooms. Extra large master bedroom with a private balcony. An extended deck toward the view makes for great gatherings. Double height ceilings, grand stairwells, tray ceiling, beautiful open kitchen with 2 dishwashers, and a trash compactor...this list goes on!

Property Disclosures compulsory. But, it is good to understand its aspects in the realm of Real Estate, whether buyer or seller. In this case, you are the seller, What does Property disclosures mean? In my so lets discuss what it may mean. purchase agreement the buyer asked that I “disclose” facts about the home within 7 Depending on what is exactly written in days of my acceptance of his offer. It’s now your contract, let’s say that you rented out 5 days in and I am not sure how to respond. your home for a short while, and when you Any help you can provide? Who YOU gonna vacated the tenant, you noticed a tank built call? under a slab of concrete. If the tenant did not inform you of this, and you had no idea Duane: The definition secured from what the use was for. Then you would want Wikipedia is the following “In the United to “disclose” that fact to the buyer. Another States, a seller disclosure statement is a example could be if when you bought your form disclosing the seller’s knowledge of the home, and did not have a survey done, and condition of the property. The seller disclosure the neighbor informs you that the fence on notice or statement is anecdotal and does the east side of your property is not yours, not serve as a substitute for any inspections and is owned by him. You may want to get of warranties the purchaser may wish to a survey done to clarify this, but, you will for obtain. It also does not serve as a warranty of sure want to “disclose” the information to the any kind.[1] Deliberate misrepresentation in buyer. the statement can result in liability.[2] Seller disclosure statements are not compulsory in Sometimes disclosures can be that you New Mexico” added a back porch, or created a French drain to help with over flow during storm To my knowledge on Guam, it is also not conditions. Customer: Hafa adai Duane,

Faulty Foreclosure? One thing I love about the real estate business is that I continue to learn something new every day. A while ago a Realtor and her client came to see me about a woman who claimed she owned the house the Realtor had listed. She insisted that the Realtor remove her sign from the property and that the people living in the house vacate it immediately. The Realtor was in a pickle. She had just received a very nice offer on the property and the seller was looking forward to accepting the offer. Security Title had closed the sale of the property to the current owner and he had purchased an owners title insurance policy guaranteeing his ownership of the property. Here is a little background:

• 1978 Deed to Mr. & Mrs. Smith • 1984 Unrecorded divorce proceedings in which Mrs. Smith becomes Ms. Jones • 1986 Recorded Quitclaim Deed from Mr. Smith to Mrs. Smith • 1987 Mortgage signed by Mrs. Smith favor of Bank • 1998-1999 Bank forecloses for failure to pay mortgage and sells the house to Mr. & Mrs. Doe. • 2006 Mr. & Mrs. Doe sell the property to Mr. Current Owner • 2014 Ms. Jones sues Bank to set aside the foreclosure based on the fact that they sued her under the name Ms. Smith and her name is Ms. Jones. She asked the bank to return the property to her and asked for damages suffered while she did not have access to her house for over 15 years.

While it is a truly unique situation, this is exactly the reason a purchaser should always buy title insurance when they acquire a property. The information was forwarded to Stewart Title Guaranty Company and they immediately opened

When working with a buyer, just be upfront, and work with your Real Estate professional to be sure you “disclose “ pertinent facts about your home. Other than that, let the buyer independently investigate all property conditions so that the buyer is confident in the purchase process. For further interpretations of disclosures you can always discuss with a Real Estate Attorney. Hope this helps with your question! See you all next month Guamies!

Who ya’ gonna call? Duane C. Pahl, R E A L T O R

671.689.7777 | duane@guamhome.com DuanePahl.com

a file to address the current owners threatened title to the property. A lawsuit was filed and the court quickly returned a judgment in favor of the bank, determining that while Ms. Smith had used an alias to mortgage the property, it was not sufficient grounds to invalidate the mortgage when she had clearly defaulted. Meanwhile, the current owner was able to move forward with his plans to sell the property and very soon will be moving on to his next opportunity.

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 A1 Bonita Villa, M-T-M For Sale $187,500 | MLS ID# 18-2654 You will love the 2 bedroom, 2.5 bath townhome centrally located. This would be the perfect home for first time home buyers. This unit features an upgraded kitchen, a tankless water heater and 2 master bedrooms with private balconies.

16 Kristina Lane, Yona For Sale $192,000 | MLS ID# 18-2550

Well cared for Baza Gardens 4bd/2ba home - newly painted, with two new split a/c’s and a wonderful address, just off the main road. Fenced-in/walled-in on three sides, with a lovely covered area right out the back sliding glass door.

101 Paulino Heights, Talofofo For Rent $2,800/mo | MLS ID# 18-2599

Beautiful 3 story ocean view home in a very nice and quiet neighborhood in the cool breezy southern part of the island! Plenty of storage, yard space, right across the street from the ocean and just up the road from 2 of Guam’s best golf courses! Entire contents, including but not limited to content, design and concept Copyright ©2018 by LG&G Corporation. All rights reserved. Anthony R. Godwin • Principal Broker

A collection of properties featured for Rent or Sale by our REALTORS® Kanada Loop Road, M-T-M

260 Chalan Nette, Yigo

Two lots totaling 11,702 square meters or almost 3 acres of A zoned property up the hill from Kanada Loop Road. Two easements to subject lots.

Be the first to enjoy the Brand New Kitchen! This Northern gem, located just off of Chalan Nette is minutes from base, minutes from shopping! You will be amazed at how nice this home is! and with 4 bedrooms, its perfect for your large family!

For Sale $225,000 | MLS ID# 18-2618

For Rent $2,205/mo | MLS ID# 18-2647

149A Hatsa Street, Asan For Rent $2,450/mo | MLS ID# 18-2662

Newly upgraded home with a cozy atmosphere tucked in the hillside overlooking the ocean and Naval Hospital. Private location with great family members as neighbors. Security system installed.