Today's GuamHome October 2019 by Todays Realty

ISSUE 10 | OCTOBER 2019

WHAT’S INSIDE Market Report | Meet Our Agents | Closed by Today’s Realty | On the Cover | Just Listed What Happens in Escrow?

CONTENTS 02 03 05 07

MARKET REPORT Residential Market Snapshot from January 1, 2019 to October 1, 2019

MEET OUR AGENTS

SOLD BY TODAY’S REALTY

A collection of recent homes sold by Today’s Realty

It is our honor to present this collection of beautiful homes for your review. Our team of over 20 agents and associatebrokers 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

104 La Stella Maris Condo, Tumon

What Happens in Escrow?

elcome to the October 2019 issue of Today’s Guamhome newsletter.

Anthony Godwin Principal Broker / REALTOR®

Jun “John” Lin Vice President / REALTOR®

JUST LISTED

Recently listed properties in the market.

FOR THOUSANDS OF LISTINGS VISIT

WWW.GUAMHOME.COM

RESIDENTIAL MARKET SNAPSHOT JANUARY 1, 2019 - OCTOBER 1, 2019

HOMES SOLD

279 Single family homes sold from January 1, 2019 thru October 1, 2019 vs. the 303 homes sold in 2018.

HOMES RENTED

Year to date saw a decrease in the number of single family homes rented at 633 in 2019 and 642 in 2018.

UNITS SOLD

174 Condominium units have been sold from January 1, 2019 thru October 1, 2019 vs. the 168 units sold in 2018.

UNITS RENTED

Year to date saw a decrease in the number of condominiums, townhomes, apartments rented from 922 in 2018 to current year at 875.

The strength of the Guam real estate market continues to be residential rentals

AVERAGE SALE & RENTAL PRICE HOME SALES

The average year-to-date home price of $351,882 was significantly higher than the $336,591 reported during the same period in 2018.

HOME RENTALS

Average single family monthly rentals so far this year decreased from $2,402 last year to current year at $2,345.

UNIT SALES

The average condominium sale price of $255,078 in 2019 was higher than the $248,135 reported during the same period in 2018.

UNIT RENTALS

The monthly rental rate for condominiums, townhomes, apartments increased from $1,696 in 2018 to $1,720 for the same period in 2019.

AVERAGE DAYS IN THE MARKET HOME SALES

On average, single family home sales in Guam take about 5 months to sell from date listed to date closed vs. the closings for the same period in 2018 at 4 months.

HOME RENTALS

In 2019, home rentals took about 8 weeks from date listed to date closed vs. the closings for the same period in 2018 at 9 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

UNIT SALES

Unit sales in Guam took about 3 months to complete transactions in 2019. Compare this to the closings for the same period in 2018 at about 3 months.

UNIT RENTALS

In 2019, unit rentals took about 8 weeks from date listed to date closed. Compare this to the 8 weeks for closings during the same period in 2018.

*Statistics from Guam Multiple Listing Service from January 1, 2019 through October 1, 2019. **Statistics from Guam Multiple Listing (MLS) from January 1, 2018 through October 1, 2018. 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 ©2019 by LG&G Corporation. All rights reserved.

MEET OUR AGENTS

Angie Camacho 671.687.0483 angie@guamhome.com

Beverly Brady 671.688.8550 beverly@guamhome.com

Carmen Mesa 671.777.6372 carmen@guamhome.com

Chad Knapp 671.777.6520 chad@guamhome.com

Fiona Hocking 671.988.9982 fiona@guamhome.com

Fumiyuki Takahara 671.488.5502 fred@guamhome.com

Hui Gallagher 671.689.4881 hui@guamhome.com

Jackie Calvo 671.687.5050 jackie@guamhome.com

Michael Kumar 671.988.6900 michael@guamhome.com

Ray Rupley 671.685.5070 ray@guamhome.com

Sandy Yow 671.687.6006 sandy@guamhome.com

Sharmila Sahni 671.483.7125 sharmilasahni@yahoo.com

Anthony Godwin 671.688.8198 anthony@guamhome.com Principal Broker | REALTOR®

John Lin 671.688.8518 john@guamhome.com Vice President | REALTOR®

Work with the Proven Market Leader

Christine Campos 671.682.2412 christine@guamhome.com

Clariza Samaniego 671.747.7440 clariza@guamhome.com

Dennis Couzijn 671.727.3815 dennis@guamhome.com

Duane Pahl 671.689.7777 duane@guamhome.com

Janet Calvo 671.687.1841 janet@guamhome.com

Jason Young 671.685.2059 jason@guamhome.com

Julie Paxton 671.687.6900 realestate@guam.net

Kimberly Ada 671.489.5232 kima@guamhome.com

Shawntel Techaira 671.483.7368 shawntel@guamhome.com

Suzanne Naputi 671.482.6426 suzanne@guamhome.com

Vicki Anderson Estes 671.687.3558 vicki@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

Yona Home | $409,000 Days on market: 199 | MLS ID: 19-894

Agana Oceanview Condo | $185,000 Days on market: 165 | MLS ID: 19-1209

Yigo Home | $358,000 Days on market: 144 | MLS ID: 19-1657

Tumon Condo | $6,600/mo Days on market: 65 | MLS ID: 19-2586

Pago Bay Unit | $2,350/mo Days on market: 60 | MLS ID: 19-2870

Sinajana Home | $2,450/mo Days on market: 45 | MLS ID: 19-2903

A collection of recent properties closed by our REALTORS®

Ordot-Chalan Pago Land | $35,000 Days on market: 132 | MLS ID: 19-1565

Ipan-Talofofo Home | $475,000 Days on market: 126 | MLS ID: 19-1821

Harvest Gardens Condo | $2,205/mo Days on market: 137 | MLS ID: 19-1623

Tamuning Home | $3,000/mo Days on market: 72 | MLS ID: 19-2714

Harvest Residences | $196,500 Days on market: 45 | MLS ID: 19-3141

Beachway Manor Condo | $1,000/mo Days on market: 27 | MLS ID: 19-3220

ON THE COVER 104 LA STELLA MARIS CONDO, TUMON For Rent $3,800/mo RARE FIND! Island living at its finest. A beachfront executive condo right in the heart of downtown Tumon. This condo is a 1st floor corner unit, featuring a large private yard for BBQ parties for your family & friends. The unit has been beautifully renovated in 2014.Walk down to the Tumon beach directly from the private yard and which also includes an outdoor shower. There are 3 split ac units, water softner, partial back up generator, mail delivery, security door and more. Surely, you'll love this condo!

MLS ID# 19-3286

WHAT HAPPENS IN ESCROW? A real estate transaction is complex. A single transaction involves several different parties, many carefully executed documents, and a high volume of funds. The function of escrow is to manage all the intricacies of the transaction from the time an offer is accepted right through to the final closing. EARN ABOUT ESCROW IN REAL ESTATE An escrow company acts as an independent third party to the transaction, managing the transfer of funds and documents between the buyer, seller, real estate professionals, attorneys, mortgage lenders, and government agencies. When a buyer and seller agree on the terms of a sale and sign a purchase agreement, they “open escrow”, which means they assign the escrow company with the task of ensuring that title to the property is passed from the seller to the buyer free from encumbrances. Sometimes this is called transferring “marketable title”. The first step the escrow officer will take is to order a Preliminary Title Report (PTR). The PTR discloses the legal and financial status of the property along with any discoverable defects, such as unpaid property taxes, outstanding mortgages, leases, easements or overlaps that are disclosed by a current map of the property. With the overview provided by the PTR, the escrow officer collects payoff information for any items appearing on the PTR. Common payoffs are real property taxes, mortgage payoffs and homeowners association dues. The Escrow Officer also works with the mortgage lender, to fulfill requirements needed to process the mortgage. Then they create a settlement statement for the approval of the buyer, seller and lender. The settlement statement shows a complete overview of costs paid in connection with the sale. When the bank is ready to close the loan, the buyer signs the mortgage loan documents as well as the deed and required affidavits in front of a notary public. The seller usually signs the deed and required affidavits before or after the buyer and it is not uncommon for an off island seller to sign documents weeks before the closing, submitting them to escrow for use when the transaction is ready to close. Once all the instructions have been complied with, the Escrow Officer closes the transaction, which involves recording the deed and mortgage, paying off all items in connection with the sale and delivering the title insurance policies to the buyer and lender. The professionals at Security Title have the management of intricate real estate closings down to a science! Experience the difference! We look forward to working with you on your next deal.

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

146 LINDA WAY, TAMUNING

119 PAGACHAO STREET, AGAT

Beautiful, spacious 4 bedroom house located in the well know subdivision of Jonestown. This home is a must see! Large open kitchen floor plan, huge master bedroom, updated baths and fully gated and fenced. Jonestown is located in the heart of Tamuning.

Nimitz Beach and Agat Marina just outside your door. Gigantic lanai with endless possibilities for adding interior space. Imagine adding a second story with a roof top deck for amazing views. NEWLY PAINTED, NEW LIGHTING inside and out.

404 OKA TOWER, TAMUNING

219 SOUTH GADAO LANE, SINAJANA

Beautifully renovated 2bd, 2ba unit w/ great ocean views. This luxury gated condo featuring a swimming pool, tennis courts, BBQ pavilion with playground, management office, mail delivery, generator, 24 hour security guard and gated entrance.

This well designed 2 story, central mountain view home is finally priced to SELL!! Enjoy the oversized patio on the 2nd floor! Newer ceramic tiles throughout! Newer split a/c units to cool the home, Solar water heater and an open kitchen/dining floor plan!

For Rent $2,450/mo | MLS ID: 19-3632

For Rent $2,450/mo | MLS ID: 19-3605

For Sale $374,950 | MLS ID: 18-4874

For Sale $335,000 | MLS ID: 19-3693

A collection of properties featured for Rent or Sale by our REALTORS®

116 BIRADAN TAN RITA, DEDEDO

151K KINNEY'S STREET, MANGILAO

This 3 bedroom, 3 bath house is waiting for you. Centrally located and just a few minutes away from NCTAMS and Andersen Air Force Base. Call your favorite Realtor and schedule a showing today!

This spacious 3bd/2.5ba home features a new fully fenced yard, perfect for kids or pets to play safely, lots of living space, including a separate bonus room, carport, typhoon shutters, new alarm system and new stainless appliances. Animals are welcome!

103 TUMON VISTA, TUMON

120 CHALAN NONAK, YIGO

You have found your home! Enjoy the conveniences of resort living in this beautiful 3bd/2ba condo unit in the heart of Tumon! A few minutes walk to restaurants, shopping, banking, and of course... the beautiful beaches of Tumon Bay!

Looking for a beautifully finished 4 bedroom home with a huge back yard? The large open concept living space is perfect for entertaining. This house is complete with a gorgeous kitchen with high end appliances, automatic gate and an enclosed garage.

For Rent $2,000 | MLS ID: 19-2787

For Rent $2,205/mo | MLS ID: 19-3681

For Rent $2,200 | MLS ID: 19-3597

For Rent $4,400/mo | MLS ID: 19-3644