Today's GuamHome June 2018 by Todays Realty

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

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

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Residential Market Snapshot from January 1, 2018 to June 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®

Majestic Nimitz Residence

UNDIVIDED INTEREST CLOUDS ON TITLE

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

CLOSED BY TODAY’S REALTY

Santa Rita Unit • $2,205/mo

Regency Tower Condo • $670,000

Boonsri Plaza Unit • $600/mo

Ypao Garden Condo • $2,200/mo

Tamuning Home • $515,000

Perlas Courte Condo • $2,450/mo

Days on market: 54 | MLS ID# 18-1517

Days on market: 27 | MLS ID# 18-1913

Days on market: 57 | MLS ID# 18-1346

Days on market: 133 | MLS ID# 18-444

Days on market: 11 | MLS ID# 18-2106

Days on market: 38 | MLS ID# 18-1610

A collection of recent properties closed by our REALTORS®

Holiday Tower Condo • $2,450/mo

Tamuning Space • $980/mo

Days on market: 105 | MLS ID# 18-760

Days on market: 311 | MLS ID# 16-3624

Barrigada Heights Home • $2,450/mo

Mangilao Home • $339,000

Days on market: 42 | MLS ID# 18-1597

Days on market: 47 | MLS ID# 18-1485

Piti Home • $4,410/mo

Mangilao Home • $590,000

Days on market: 94 | MLS ID# 18-774

Days on market: 64 | MLS ID# 18-1160

ON THE COVER

221 Ocean Summit Drive, Piti, Guam For Sale $1,400,000 | MLS ID# 18-2315

Impressive, stunning and captivatingâ&#x20AC;Ś. a blend of sophisticated design combined with the simplicity of an everyday lifestyle. You will appreciate the wrap-around balconies at both levels that offer sweeping views from nearly every room. On a clear day, the neighboring island of Rota is visible! The master suite includes en-suite walk-in wardrobe, office and bath. The generous living/dining and kitchen complete the second level. At ground level are three additional bedrooms, family room, laundry room, a generous open atrium and stair to the second level. Also features a large 2 car garage with two storage rooms, back-up generator, dumbwaiter and gated entry.

Undivided Interest On occasion I am asked to sell, or help explain to sellers exactly what Undivided Interest in a property is, and how to properly sell this type of interest. Let’s discuss undivided interest in real terms. An undivided property is not just a property that has not been subdivided into different sections. It is usually one piece of property, owned by more than one person, in which all owners have an undivided interest. This type of ownership often occurs when a piece of property is left to siblings to share or if friends or partners buy a piece of land together. Find out how your ownership is classified on the deed. If you are tenants in common, you have an undivided interest in the property; as this type of owner, you can sell only your interest in the property. To sell the whole piece, all owners must agree to sell. Joint tenancy gives rights of survivorship to the surviving co-owner when one of the owners dies. What are the ways to sell this type of property? First, it’s a good idea to consult a real estate attorney and review the conditions under which you can sell your property. Offer to sell your interest in the property to your partners or siblings. This is the best way to sell only one interest at a time. You can also try and find a buyer for your interest in the property and sell it to them. Find a buyer for your interest in the property and ask for consent from the other partners to sell it to him. This is the most common solution to the issue. Lastly, ask your partners or siblings if they want to sell the property also. If everyone with an interest in the property consents to the sale, then you can list it with an agent or sell it as you might do with any other piece of property.

Clouds on Title (aka Title Defects) A 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

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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:

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

671.689.7777 | duane@guamhome.com DuanePahl.com

• 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.

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 201 Agana Beach Condo For Sale $635,000 | MLS ID# 18-2191 On the Beach. Beautiful unit. Spectacular view. This 3bd/3ba corner unit offers a rare opportunity for beachfront living in a building that offers covered parking, two swimming pools, on-site management, and for investors, great rents!

138 Route 2, Agat

For Rent $2,200/mo | MLS ID# 18-2359 Come home to this unique 3 bedroom home located on a hill across from the ocean. You’ll enjoy beautiful ocean views and nightly sunsets from the large front porch. Very nice home with great custom features!

621 Alupang Cove Condo For Rent $2,450/mo | MLS ID# 18-2363

Beach Front Living at it’s finest! This 2 bedroom/2 bathroom condo is waiting for you to occupy! Secured Entry, mail delivery, gym, 24 hour security, beach and pool access are some of the many perks of living in Alupang Cove. 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® 156 Lila Street, Barrigada

#6-1 Royal Gardens Townhome

Premium location - Barrigada Heights! Check out this beautiful home with an amazing ocean view from second floor balcony, fully fence yard, solar power panels, automatic gate, security system & more. Central to both military bases.

You will love this newly renovated unit within the Royal Gardens complex. With great amenities such as a pool, basketball court, tennis court, play ground and security this unit won’t be on the market long.

For Rent $4,410/mo | MLS ID# 18-2188

For Rent $2,500/mo | MLS ID# 18-2358

624 Alupang Cove Condo For Sale $325,000 | MLS ID# 18-2319

Live by the sea and enjoy endless sunsets from the comfort of your own balcony! This 2 bedroom/2bath, partially-furnished, upgraded unit has an incredible view. Fantastic central location just minutes from shopping outlets, restaurants, and attractions.