Today's Guamhome March 2015 by Todays Realty

CONTENTS 02

SOLD! PROPERTY OF THE MONTH Tumon Bay’s La Stella Maris...

04 05

MARKET REPORT

Residential Market Snapshot from January 1, 2015 to March 1, 2015

BATHROOM IMPROVEMENTS TO SELL YOUR HOME FASTER

Bathrooms are one area where home buyers make decisions...

MONEY LESSONS TO LEARN BEFORE YOU’RE 40

Economists advise there are specific life/ money lessons everyone reaching 40 should consider...

RECENTLY CLOSED LISTINGS

JUST LISTED

2014 REAL PROPERTY TAXES

Recently listed properties in the market.

There are big changes happening this year with Guam’s real property taxes!

PROS AND CONS OF BUILDING ON LOTS VS. LAND

If you’re in the market for new construction, one of the first items you’ll need to address is where your home will be built...

WAYS TO MAKE YOUR HOME LOOK LARGER

Seven less traditional ways homeowners should consider to create the illusion of more space...

PROPERTY MANAGEMENT

TUMON BAYâ&#x20AC;&#x2122;S LA STELLA MARIS Lovely views and sea breezes from this fabulous beach side residence along Tumon Bay. Panoramic sunset and sandy beach views are awarded from the two private lanais of this second floor unit. This is indeed a rare find... There are just twelve units at La Stella Maris. List Price: $1,275,000 Sold Price: $931,000 Days on the Market: 427

RECENTLY SOLD & RENTED LISTINGS 01 Alupang Cove Condo

Listed: $250,000 • Sold: $245,000

The year of the Sheep has brought this BEACH FRONT condo - 2BR/2BA, brand new kitchen with Granite countertops, cherry cabinets and more. Great for investor of military rental, vacation rental or for yourself. Days on the market: 46

02 Tamuning Mansion

Listed: $4,800/mo • Rented: $4,600/mo

This exquisite 3bd/2.5ba custom home features: 5,126+/-sf of living space, formal living room with wet bar, family room, gourmet kitchen with center island, breakfast nook, formal dining room, exercise room and so much more! Days on the market: 17

03 Tamuning Land

Listed: $141,100 • Sold: $141,400

M-1 property available at a cut-rate price. Located at the end of Siket Street in the Harmon Industrial Park. 2,823+/-sm Days on the market: 604

04 Tamuning Home

Listed: $2,450/mo • Rented: $1,600/mo

This 3 bedroom 2.5 bath home in the village of Tamuning is fully fenced, pet friendly, near shopping centers, awesome restaurants and movie theaters. Days on the market: 185

A LIST OF RECENTLY CLOSED LISTINGS TO HELP YOU ASSESS THE VALUE OF YOUR PROPERTIES

05 Perez Acres Townhome

Listed: $260,000 • Sold: $230,000

Gated community living five minutes from Andersen Air Force Base. This highly upgraded 3bd/2ba townhouse features stainless steel appliances, a large family and living room, and renovated bathrooms. Days on the market: 43

06 Barrigada Home

Listed: $315,000 • Sold: $302,500

‘New’ hasn’t looked this good in a long time! This home is so well priced and staged to give you a feel for how life can be! Beautiful colors, lots of light and high ceilings throughout have modernized this special home. Days on the market: 150

07 Barrigada Duplex

Listed: $2,205/mo • Rented: $2,205/mo

This LARGE, 3bd/2ba, 2-story duplex is in tiptop shape! Panoramic ocean & island view with sensational sunsets and night views. All new glass windows and doors are double paned and sound & typhoon resistant. Days on the market: 12

08 Alupang Cove Condo

Listed: $252,000 • Sold: $245,000

This 8th floor 2bd/2ba unit boasts one of the best views in the complex! Fee simple and upgraded with great building amenities! Days on the market: 77

JUST LISTED

AVAILABLE LISTINGS RECENTLY ADDED TO THE MARKET

01 Chalan Sabana Piti • $978,000

The 14’ high covered porch is your majestic masterpiece, shading a large, classic wooden deck, and leading you toward your infinity edge pool and the brilliant ocean beyond. This view, this house, are spectacular. Guamhome.com/15-778

02 Papatguan Avenue Merizo • $63,336

Historic Merizo remains an island bastion against the march of progress, a sleepy seaside hamlet, ancient landmarks, and the hafa adai spirit. Sow your seeds in this prime plot and watch your island roots grow. 6,336+/-sm Guamhome.com/15-725

03 The Chateau

Tamuning • $1,980/mo

Move right in, all ready for you a 2 bedroom 1.5 bath fully furnished condo unit in the central part of the island. So close to just about everything you would need to live a great island life. Guamhome.com/15-784

04 Sanhilo Circle, Nimitz Estates Piti • $495,000

This 4bd/2ba OCEAN VIEW Home is a MUST SEE!! Escape the everyday stresses by coming home and enjoying the well manicured, custom landscaped backyard, all the while watching Sunrises and Sunsets and Ocean views! Guamhome.com/15-902

S E A R C H O V E R A T H O U S A N D P R O P E R T I E S AVA I L A B L E T O D AY ! 8

VISIT GUAMHOME.COM

2014 REAL PROPERTY TAXES

February 16 to March 16, 2015 - Filing period for Tax Appeals for 2014

There are big changes happening this year with Guam’s real property taxes! During 2014, the entire island was appraised based on property values in 2013. The new appraised values have been entered into the databases at the Department of Revenue and taxation, but bugs are still being worked out.

April 20, 2015 - 1st installment payment due date for 2014 (or if electing to pay in full) May 20, 2015 - 2nd installment payment due date for 2014 (balance due) June 8, 2015 - Publication of the 2014 Delinquent List

In past years property taxes are due: First installment February 20 Second installment April 20 However, due to the immensely time consuming job of re-evaluating, inputting the data and getting the information distributed to the public, we are a little behind on the 2014 Tax Assessment due dates (as amended) for the tax year 2014 which are as follows: January 23, 2015 - Last dated to file an application for property tax exemption or tax credits February 2, 2015 2014 - Preliminary distribution to each Mayors Office

March 31, 2015 - Last date to certify the 2014 Assessment Roll

Roll

Due to the enormous nature of the reevaluation there are bound to be issues on some properties. When your tax notices arrive, check them closely for not only the appraised value, but also for accuracy in lot numbers, ownership names and mailing addresses. The contact information for the people who can help address any issues are: Appraisal branch: 671.635.1895 john.terlaje@revtax.guam.gov

Assessment branch: 671.635.1763 katrina.hodges@revtax.guam.gov Administrator: 671.635.1897 benedict.atoigue@revtax.guam.gov Our property taxes pay for our roads, our schools and our public safety. While we can see progress being made, it is important that funds are available to continue to improve and maintain our precious island home. Our friends at Rev & Tax are working hard to implement the new assessment, so please be kind to them!

by Kim Anderson Young PRESIDENT, SECURITY TITLE, INC.

kim@securitytitle.net • 671.647.8100

Finding simple solutions to complex real estate transactions.

PROS AND CONS OF BUILDING ON LOTS VS. LAND

7 NEW WAYS TO MAKE YOUR HOME LOOK LARGER by Barbara Pronin

If you’re in the market for new construction, one of the first items you’ll need to address is where your home will be built: on a developed lot or undeveloped land. Let’s review the pros and cons of each.

Hanging large mirrors on one wall of the living room has been touted for years as a way to make the room larger. But, said New York designer Jeffrey Blum, mirrors reflect everything in the room, creating the illusion of clutter.

Lots, or developed land parcels typically partitioned by builders, have unique advantages. They are often priced to sell and owners can expect a significant price appreciation in the future. Thanks to the builder, homes on lots are generally connected to water and sewage systems, have electric, phone and cable lines wired and have paved road access. A qualified builder will also disclose information such as drainage and soil issues, making it easier for the buyer to weigh their options.

Blum, the owner of SixZero6 Designs, suggests seven less traditional ways homeowners should consider to create the illusion of more space:

Owning on a lot has its cons. For the sake of mass production, builders create cookie cutter floor plans. Every upgrade, whether it’s marble in the bathroom or cherry cabinets, will cost more. Homes in developments are typically spaced close together, limiting outdoor space for some and creating concerns for those who seek more privacy. Homeowners in developments are also subject to HOA fees, which can take a toll on household budgets. But HOA fees do come with their fair share of benefits: trash pick-up or lawn care, for instance. Building on an undeveloped plot of land gives you the freedom to choose your location. Those interested in building on land will face more expenses, but have the ability to customize the home to their needs and wants. The homeowner may also enjoy a more ecofriendly lifestyle, especially if the home is in a rural area with cleaner air.

Invest in built-ins – Whether you add window-seats or built-in bookshelves, small rooms will benefit. Unlike groupings of furniture which can appear awkward or cluttered, built-ins make small rooms provide vertical interest and architectural detail, making them appear gracious and more substantial. Open up the doorways – Renovate doorways, making them as wide and tall as possible, preferably to the ceiling. There may be no need to remove an entire wall between rooms when enlarging a door can make a huge difference. Choose larger floor tile – The larger the tile, plank or pattern on a floor, the larger the room will look. Even the tiniest of powder rooms can benefit from this trick. Another tip? Install tiles on a diagonal. Make use of the hallway – Hallways often seem small and closed-in. ‘Open’ them by hanging an eye-catching piece of artwork at the far end. This draws the eye to the longest distance, making the hallway appear less cramped. Add a wall of windows – Replace the living slider with a wall of windows or French doors. They will brighten the room and draw the eye out to the landscaping, making the room itself seem more expansive.

Aside from higher costs, the disadvantages to building on land include the potential for zoning changes to affect construction or ownership down the road. Homeowners may also need to install a septic, dig a well or run electric, phone and cable lines. The land itself may also present some challenges, such as buried oil tanks.

Use light colors and scaled-down furniture – Rooms painted in light colors, especially cream colors and icy blues, help make a room appear larger. Choose low-profile or slim pieces of furniture, rather than large or overstuffed pieces, to maintain the open look.

Source: RISMedia’s Housecall

Please the senses – Just placing fresh flowers in a room, playing soft music and opening windows or sliders to let the breeze in can go a long way toward making a small room appear airier and me spacious.