Today's Guamhome March 2018 by Todays Realty

ISSUE 3

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

Keeping Your Pets’ Needs in Mind Mortgage Assumptions

MARCH 2018

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

Contents

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

MARKET REPORT

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).

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!

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

SOLD BY TODAY’S REALTY

ON THE COVER

A collection of recent homes sold by Today’s Realty

We are never too busy for your referrals! Anthony Godwin Principal Broker / REALTOR®

Spacious M-T-M Home

KEEPING YOUR PETS’ NEEDS IN MIND MORTGAGE ASSUMPTIONS

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 - March 1, 2018

Single Family Homes

Condos • Apts • Townhomes

Homes Sold & Rented

Units Sold & Rented

53 Single family homes sold from January 1, 2018 thru March 1, 2018 vs. the 57 homes sold in 2017. However, the strength of the Guam real estate market continues to be residential rentals. Year to date saw no difference in the number of single family homes rented at 126 in 2018 and 2017.

28 Condominium transactions have been completed from January 1, 2018 thru March 1, 2018. Compare this to the 28 closings for the same period last year. Year to date saw a decrease in the number of condominiums, townhomes, apartments rented from 175 in 2017 to current year at 169.

In 2018

In 2017

In 2018

SOLD

RENTED

RENTED 0

120

150

In 2017

100

150

200

Average Sale & Rental Price Single Family Homes

Condos • Apts • Townhomes

Sales

The average year-to-date home price of $340,932 was significantly higher than the $265,419 reported during the same period in 2017.

The average condominium sale price of $223,843 in 2018 was lower than the $238,482 reported during the same period in 2017.

Rentals

Average single family monthly rentals so far this year decreased from $2,361 last year to current year at $2,332.

The monthly rental rate for condominiums, townhomes, apartments increased from $1,693 in 2017 to $1,729 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 62 days from date listed to date closed. Compare this to the closings for the same period in 2017 at 59 days. 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 89 days to complete transactions in 2018. Compare this to the closings for the same period in 2017 at 102 days.

In 2018, condominium rentals in Guam took 60 days from date listed to date closed. Compare this to the 66 days for closings during the same period in 2017. *Statistics from Guam Multiple Listing Service from January 1, 2018 through March 1, 2018. **Statistics from Guam Multiple Listing (MLS) from January 1, 2017 through March 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

Chandru Sadhwani 671.788.5044

angie@guamhome.com

anthonyb@guamhome.com

beverly@guamhome.com

carmen@guamhome.com

chandru@guamhome.com

Francine Bamba 671.727.8008

Hui Gallagher 671.689.4881

Janet Calvo 671.687.1841

Jay Blakley 671.777.7683

Jeremy Looby 671.689.6100

sissy@guamhome.com

hui@guamhome.com

Sharmila Sahni 671.483.7125

sharmilasahni@yahoo.com

Anthony Godwin 671.688.8198

anthony@guamhome.com Principal Broker | REALTORÂŽ

janet@guamhome.com

Shawntel Techaira 671.483.7368

shawntel@guamhome.com

jay@guamhome.com

jeremy@guamhome.com

Suzanne Naputi 671.482.6426

suzanne@guamhome.com

John Lin 671.688.8518

john@guamhome.com Vice President | REALTORÂŽ

Work with the Proven Market Leader

Christina Blakley 671.688.8899

Christine San Nicolas 671.682.2412 christine@guamhome.com

dennis@guamhome.com

duane@guamhome.com

fiona@guamhome.com

Julie Paxton 671.687.6900

Kimberly Ada 671.489.5232

Michael Kumar 671.988.6900

Ray Rupley 671.685.5070

Sandy Yow 671.687.6006

christina@guamhome.com

realestate@guam.net

kima@guamhome.com

Dennis Couzijn 671.727.3815

michael@guamhome.com

Vicki Anderson Estes 671.687.3558 vicki@guamhome.com

Duane Pahl 671.689.7777

ray@guamhome.com

Fiona Hocking 671.988.9982

sandy@guamhome.com

Yumiko Blaisus 671.688.7791

yumiko@guamhome.com

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

CLOSED BY TODAY’S REALTY

Talofofo Home • $2,450/mo

Commercial Space • 750/mo

Days on market: 212 | MLS ID# 17-2814

Days on market: 83 | MLS ID# 17-4226

Tamuning Property • $4,000/mo

Dededo Home • $430,200

Days on market: 18 | MLS ID# 18-599

Days on market: 0 | MLS ID# 18-786

Las Palmas Ph. I • $1,500/mo

PIA Marine Condo • $2,205/mo

Days on market: 83 | MLS ID# 17-4220

Days on market: 7 | MLS ID# 18-734

A collection of recent properties closed by our REALTORS®

Sinajana Home • $2,450/mo

Yigo Land • $80,000

Days on market: 76 | MLS ID# 17-4330

Days on market: 69 | MLS ID# 17-4353

Talo Verde Estates Home • $4,100/mo

Apusento Gardens • $2,205/mo

Perez Acres Townhome • $2,450/mo

Tamuning Space • $5,272.80/mo

Days on market: 47 | MLS ID# 18-127

Days on market: 86 | MLS ID# 17-4415

Days on market: 32 | MLS ID# 18-288

Days on market: 479 | MLS ID# 16-3609

ON THE COVER

980 Sgt. Roy T. Damian Jr. Street, M-T-M, GU For Sale $325,000 | MLS ID# 174396

BONUS! Seller to credit buyer $5,000 towards closing costs! This 4 bedroom 3 bath property features a beautiful modern kitchen with center island, tons of cabinet space, granite counter tops and a full complement of stainless appliances. Dream big with the ginormous master bedroom with bath. Three more bedrooms, two bathrooms and a separate laundry room are located at the main level. Dream bigger with the lower level 500+ square foot bonus room that can be purposed as a great room, recreation room, playroom, guest room, office, or use your imagination! Outside you will find a covered front porch, patio, storage and grassed front and rear yards. Rooftop there is a 6K solar system installed for year-long energy savings!

Keeping Your Pets’ Needs in Mind Customer: I’m very keen on purchasing a home or condo in the near future. I don’t have any kids, but, I do have pets. 1 cat named Pat, and 1 dog named Rob. Are there any tips you can provide so that I can be sure Rob and Pat will be safe and comfortable? Thank you.

fine. Many communities are striving to create and maintain environmentally friendly and pet-friendly parks. Someone should consider putting out info on locations of these types of parks as I am unaware of any.

Duane: Dealing with pets, or as I like to say, “family”, can sometimes be challenging as there are some complexes, or PUD’s, or Planned Urban Developments (Housing Subdivisions) that have strict rules when it comes to your “family”. The first thing is to reach out to a Real Estate Pro and discuss your questions with them, or call me! If you’re a pet owner you likely treat your furry, feathered, or scaly friend as a member of your family. That’s why it’s important to keep your pet’s needs in mind in home purchase. Ensuring whether local ordinances, regulations, and neighborhood environment welcome pets will affect how well your beloved pet gets used to your new home and how much freedom there is for your pets activities. Here are some tips to help ensure your future home and neighborhood are pet-friendly:

If you plan to have a farm animal as a pet, such as a Goat or Carabao, clarify the zoning regulations and with the proper officials. While house pets such as cats, dogs, birds, fish and rabbits are acceptable in most types of housing, there may be restrictions on the total number of animals allowed in a single dwelling.

of the home and think about what would be needed to make your pet comfortable there. If your pet is older, stairs may be difficult and your pet could be confined to a single floor in the house. Examine the outside of the home, too. Is there a doghouse or place for your pet to roam? Is the yard fenced? If you have a big, hairy dog, you might want a garden faucet to use when bathing your pet.

If a pet is a central part of your life, you will find personal enjoyment in your future house only if it accommodates the needs of your pet. As you consider the needs of your family, including pets, decide what Ask for apartment or HOA rules you must have and what you can compromise on. You While a single-family home is likely to provide your can also speak casually to potential neighbors to see pet with the most freedom, a townhouse, apartment if they are pet-friendly. or condominium may be what fits your budget. For these options, check the townhouse or condo Like all family members, if they are happy, then most board rules and regulations for pets. Homeowners likely you will have a happy home. associations (HOAs) typically govern condos and townhouses with rules and bylaws for what’s allowed, disallowed and required. Some HOAs will allow pets but restrict them to certain areas on the property. You Who ya’ may face fines for violating the rules and bylaws.

Assess the home layout Check local pet owner requirements Consider creature comforts inside and outside the For any potential home purchase, familiarize yourself home. Will your pet have enough yard our living village or island wide ordinances that are in place space to live and play in without difficulty? Will your for health and safety reasons. Often, they require pet be happier with carpeting or tiled floors? you to obey leash laws and clean up after your pet Note whether the windows are at floor level, as your in public places. Noncompliance can result in a pet can accidentally run into them. Check the layout

gonna call?

Duane C. Pahl, R E A L T O R

671.689.7777 | duane@guamhome.com DuanePahl.com

Mortgage Assumptions

Before it starts to appear that I am advocating assuming another persons mortgage (I don’t!); let me say that there are a number of good reasons that mortgages prohibit assumption, for example:

In order for the lender to consent, they process the buyer as if they were applying for a new loan (to determine if they qualify to repay). While assuming a sellers mortgage may seem If the lender approves the assumption, an like a simple and straightforward way to quickly assumption of mortgage document is signed close the sale of a property, the ramifications can by the new borrower and recorded as required be disastrous to both the buyer and the seller. under the mortgage. At this point the debt is removed from the original borrowers credit and our buyers and sellers are in compliance with • If the buyer fails to make the mortgage the terms of the loan. payments in a timely manner or if the loan goes into foreclosure, the sellers credit score is affected since they are still responsible for the loan. • If the seller wishes to purchase another property, the existing loan still shows as a debt for which they are responsible. by Kim Anderson Young • If the bank discovers that a loan has been PRESIDENT, SECURITY TITLE, INC. assumed they can immediately call the note due and payable, and the buyer will need to kim@securitytitle.net | 671.647.8100 quickly seek alternative financing. Finding simple solutions to complex real estate

• Lender cannot confirm that the new buyer qualifies to repay the loan.

Other mortgages allow for the mortgage to be assumed, but only with the lenders consent.

Even though most mortgages contain what is called a “due on sale” clause which states that a mortgage cannot be assumed by a new buyer, it is not uncommon for parties to take over payments when purchasing real estate. Contracts of Sale, seller financing and wrap around mortgages are all examples of creative financing in which the existing loan is assumed without the knowledge of the lender. While not in compliance with the terms of the loan, assumptions are not rare. In most cases the lender does not have any idea that the loan has been assumed and as long as the payments are made, no red flag is raised.

• Lender loses the opportunity to adjust interest rates to current market levels.

transactions.

LISTED BY TODAY’S REALTY 404 Oka Tower Condo For Rent $2,450/mo | MLS ID# 18-892 Beautifully renovated 2BD 2BA unit w/ great ocean view. Pool, Tennis courts, BBQ pavilion with playground, Management office, Mail delivery, Generator, 24 hour security guard and more. This unit is fully furnished and ready to move in.

404 Ridge Condo, Dededo For Rent $2,205/mo | MLS ID# 18-842

This beautiful corner-unit townhome is bright and cheery, and hits all your hot spots! With 3 bedrooms, 2 bathes, 2 stories, and 2 parking stalls. Newly painted, ceramic floors, and a private balcony off the master bedroom, washer and dryer.

137 Adacao Ave, Barrigada For Rent $1,700/mo | MLS ID# 18-528

Location! Location!! Location!!! Newly renovated 3BR, 2BA home with LARGE bonus room in Central Guam! Walking distance to Catholic Church & Crown Bakery. Minutes to restaurants, shopping, schools, & entertainment. 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® 479 Sgt. B. Benevente St, Barrigada

304 Tumon View Condo, Tumon

Explore the possibilities of this 5,000+/- square foot home sited on a huge 1,793+/- square meter lot. The home features 8bd/5ba, 2 kitchens, a 4 car garage, oversized balcony/porch and a refreshing swimming pool with bath and shower!

Fully Furnished and Cozy 2bd/1ba unit! Literally MINUTES away from Tumon beaches, hotels, restaurants and bars! WATER INCLUDED! Enjoy the convenience of walking to Pleasure Island.

For Sale $600,000 | MLS ID# 18-876

For Rent $2,200/mo | MLS ID# 18-849

A2 Villa De Oro, Mangilao For Rent $1,700/mo | MLS ID# 18-777

Centrally located, newly renovated spacious 3 bedrooms, 2 bathroom condo. Newer appliances, including washer, dryer, water softener. Perfect location, walking distance to UOG, GCC, GW High, FD, restaurants & Payless.