casaguam vol. 3 issue 11

CasaGuamNov10:Layout 2 11/9/10 6:22 PM Page c1

an is this is year flying by. I haveonly one more article/letter towrite ( I think…) to all of youand then I turn the leadershipof the Guam Association ofREALTORS® over to my good

friend Anthony Godwin, the incoming Presidentfor 2011.I guess the biggest news in the pastmonthhas been

the signing of theROD(TheRecord ofDecision forthe Environmental Impact Statement) for theMilitary Buildup. Tome this means that the buildupis no longer an “if ” but now a thing that will happenand that we all need to prepare for. I know there areremaining concerns from certain groups and some ofour senators and frankly, I share some of themmyself.But I have had the fortune of meeting a lot of theJGPO and DOD people involved in the relocationand planning for the buildup and I honestly believethey do want to make this happen and work out toour best interest. They seem concerned for theenvironment as well as our culture and quality ofliving. They have recently stated that they will slowthis buildup period down from a 3-4 year period to a6-10 year one and monitor the buildup speed ascompared to our quality of living and needs.Like everyone else I get caught in the traffic jams

and slowdowns caused by all the roadwork, but I seethe light at the end of the tunnel and look forward toa better road systems with a smoother drive time,reduced snarls and slowdowns when the main workgets done. I remember very well the old traffic jamson Marine Drive, particularly in Yigo and Dededowhen they widened the road in the early 1980’s. Ithink the old timers and locals will remember the120-20 minute jams and slowdowns – pretty muchlike the tri-intersection slowdowns we have now.Things are better than before and I believe they willcontinue to get better and better in the years to come.

D e p a r t m e n t s

6 Market ReportSStteeaaddyy MMaarrkkeett MMaayyBBrriinngg 2200 PPeerrcceenntt IImmpprroovveenntt OOvveerr 22000099

8 FeatureGGlloobbaall MMaarrkkeettss SSeeeekk GGuuaammGuam’s Position in the

current Global crisis

14 From the ExpertsTTaakkee AAddvvaannttaaggee ooff TThhee BBoooommInvest in Guam Real Estate Now!

16 ProfileFFrroomm CCrreeddiittoorr ttoo RREEAALLTTOORR®®

Shawntel Techaira Emerges

From Behind The Scenes To

Join The Real Estate Industry.

21 How To D.I.Y.AAppppllyyiinngg EEllaassttoommeerriiccRRooooff CCooaattiinnggIt isn’t as hard as you may think

22 Curb AppealFFiivvee WWaayyss ttoo IImmpprroovvee CCuurrbb AAppppeeaall

25 Who Ya Gonna Call?

26 Classifieds

28 ClosingGGuuaamm AAssssoocciiaattiioonn ooff RReeaallttoorrss®®Post Contract Pitfalls

C a s a G u a m . c o m 1

M e s s a g e F r o m G A R

November 2010 • Vol. 3 • No. 11

CasaGuam is Published by:

P.O. Box 24881 Barrigada, GU 96921Tel: (671) 472-3495 | Fax: (671) 472-3498

email: [email protected]

CasaGuam Advertising DisclaimerAll Advertisers agree to hold the publisher harmless and indemnify it against any and all claims, losses, liabilities, damages, costs and expenses (including attorney’s fees) made against or incurred by the publisher, officers or employees with respect to, or arising out of, the content, text,graphics or representations of any ad published herein, including but not limited to the sole negligence and/or fault of the publisher. The publisher is not liable for any claims, losses or damages of any kind, arising from the wording, text, graphics or representations of any ad publishedherein, or the condition of the articles sold through the publication, or performance of services advertised in this publication. All advertising and/or performance of services advertising and/or submissions become wholly the property of CasaGuam Magazine. CasaGuamMagazine is a registered trademark of PTI Pacifica Inc. Copyright © 2008. All rights reserved. Reproduction in whole or in part in any form without the express writ ten consent of the publisher is prohibited. We reserve the right to edit or refuse any ad and to reprint any photo forpromotional use.

|Publisher|Julian T. Cooper-Nurse

|Business Sales Manager|Jay-R S. Dominguez|Display Advertising|

Darrell Pereda|Traffic/Circulation Manager|

Josie Redmond|Production Manager|

Mark S. Burke|Production Assistant|

Lynda Young

|Graphics & Layout|Mark S. Burke • Jon Barnhart

|Editorial Contributors|Faye Varias Creative Services

Mark S. BurkeChristopher FelixRyan De GuzmanW. Nicholas CaptainPeggy Araullo Llagas

(Cover Photo: Mark S. Burke)

CONTENTS

5

Message from thePresident

By Christopher FelixCPM,CIPS,CCIM

M

Guam Associationof Realtors®

The Voice for RealEstate on Guam

CasaGuamNov10:Layout 2 11/9/10 6:22 PM Page 1

2 C a s a G u a m N o v e m b e r 2 0 1 0

Business Opportunity

TTaammuunniinngg

Century 21 Realty Management . . . . . . . . . .IIFFCC

Commerical For Lease

AAssaann

RE/MAX Diamond Realty . . . . . . . . . . . . . . . . .IIBBCC

DDeeddeeddoo

E.C. Development . . . . . . . . . . . . . . . . . . . . . . . . . .77

HHaaggååttññaa

Alliance Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . .44

E.C. Development . . . . . . . . . . . . . . . . . . . . . . . . . .77

HHaarrmmoonn

Alliance Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . .44

BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .55

TTaammuunniinngg

Latte Stone Properties, LLC . . . . . . . . . . . . . . . . .55

TTuummoonn

Coral Sea Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .44

Advance Management, Inc. . . . . . . . . . . . . . . . . .44

Century 21 Commonwealth Realty . . . . . . . . .1155

Commercial For Sale

TTaammuunniinngg

Today’s Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .BBCC

Multi-Family For Sale

AAggaatt

Alliance Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . .44

DDeeddeeddoo


Residential For Rent

BBaarrrriiggaaddaa





DDeeddeeddoo

Alliance Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . .44

BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .55




HHaaggååttññaa

Alliance Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . .44


IInnaarraajjaann


MMaannggiillaaoo



MMoonnggmmoonngg--TToottoo--MMaaiittee

BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .55

OOrrddoott--CChhaallaann PPaaggoo

Alliance Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . .44




PPiittii


SSaannttaa RRiittaa


SSiinnaajjaannaa

BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .55

TTaallooffooffoo


BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .55



TTaammuunniinngg



BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .55



TTuummoonn

Coral Sea Realty . . . . . . . . . . . . . . . . . . . . . . . . . . .44




YYiiggoo

MZ Homes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .33


BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .55



YYoonnaa


BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .55


Residential For Sale

AAggaannaa HHeeiigghhttss



AAggaatt



BBaarrrriiggaaddaa



DDeeddeeddoo

BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .55




HHaarrmmoonn


MMaannggiillaaoo






BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .55


SSaannttaa RRiittaa


SSiinnaajjaannaa


TTaallooffooffoo

BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .55

TTaammuunniinngg


BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .55



TTuummoonn


BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .55



YYiiggoo

MZ Homes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .33

BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .55



YYoonnaa

BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .55


Land For Lease

AAssaann


TTaammuunniinngg


Land For Sale

AAggaatt



AAssaann


BBaarrrriiggaaddaa


DDeeddeeddoo




MMeerriizzoo



BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .55

OOrrddoott--CChhaallaann PPaaggoo

Alliance Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . .44

PPiittii


SSaannttaa RRiittaa




TTaallooffooffoo


TTaammuunniinngg

BHI Realty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .55


TTuummoonn


YYiiggoo



YYoonnaa



LLooookkiinngg ffoorr ssoommeetthhiinngg iinn ppaarrttiiccuullaarr?? See the listings index below topoint you in the direction of a listing in this real estate guide that’s right for you.Simply look up the village, type of home or apartment and see the ad on the corre-sponding page number. HHaappppyy HHoommee HHuunnttiinngg!!

FC - Front Cover

IFC - Inside Front Cover

IBC - Inside Back Cover

BC - Back Cover

R e a l E s t a t e L i s t i n g B y V i l l a g e



Louisa WesslingAssociate Broker

[email protected]

Christina AuAssociate Broker

[email protected]

Trini SarmientoAssociate Broker

[email protected]

MLS#10-1584 & 10-2159 MLS#10-1342

MLS#10-3245

MLS#10-1736 MLS#10-2324 MLS#10-3008 & 10-3007 MLS#10-961 MLS#10-2634

MLS#10-2203 MLS#10-297 MLS#10-2158 MLS#10-1954

MLS#10-1415 MLS#10-1969 MLS#10-1421

TALOFOFO - $265K or RENT $2,450/mo

3br/2.5ba

TAMUNING - ALUPANG COVECONDO $295K or Rent $2,450/mo2BR/1.5BA This HIGHLY up-graded & remodeled unit.

TOTO - LAND $75K 1051sm lot. Power and water

nearby.

MAITE - $189K or RENT $1,700/mo

Agana Oceanview Condo 3br/2ba

DEDEDO - NCS $205K Renovated 5br/3ba. Fully

fenced

YONA - WINDWARD HILLSGolf Course $2,500/mo

4br/3ba w/wonderful features &scenic view of the golf course.

YIGO $259K3br/2.5Ba on 1/2 acre lot.

Family room, Living room &kitchen

YONA - $220K Windward Hills Estates 4br/2.5ba. Fixer Upper!

DEDEDOYpaopao Estates

$2,200/mo 4br/3.5ba.

DEDEDO - $205K 4br/1.5ba on 1/4 acre lot.

YIGO - $360K or RENT $2,450/mo.

3br/2.5ba Executive home.

SINAJANA - $2,000/mo 3BR/3BA. Delightful home with

open floor plan.

TAMUNING - $230K 3br/2ba on 600sm R2 zone lot.

YIGO - $350K 2br/1ba, 2 homes on one lot.

TAMUNING - ALUPANG COVETOWNHOME $695K

2BR/2BA Beautiful, upgraded,Oceanfront townhouse.

TUMON HTS - $240K 3br/2ba on 910sm R2 zone lot.

TAMUNING - LAND $550K 1/2 acre w/ 4br concrete house.

HARMON INDUSTRIAL PARK$3,000/mo

Commercial/Office space.


uam's real estate market held steadyduring the secondquarter of 2010,which is on pace

toward an estimated 20 percent improvement over sales activity in 2009.During the 2nd quarter of 2010,

total islandwide real estate sales reflected $66.1 million, up slightlyfrom the prior quarter, but up sharplyfrom the first quarter 2009 low of$36.1 million. "The market has been extremely

steady with monthly sales volume ofaround $20 million. That's the pre-bubble rate of sales activity, so weare expecting sharp gains after themassive military and infrastructureconstruction projects commence."noted Nick Captain, President ofCaptain Real Estate Group. "By mainland standards, a steady

market is a healthy market. Althoughthe past few years has witnessed an evaporation of Asian-based foreigninvestment, it will return", stated Captain. Private sector foreign invest-ment is already returning, it's just notthe big money from Asia, yet.Investment has been flowing into

Guam from Hawaii, Alaska, the mainland and other locations. In theresidential sector, single family medianpricing has stabilized over the past yearin the $210,000 range. Captain Real Estate's projected 20

percent increase in total single familyresidences sold this past quarter wasreasonably accurate with 160 unitsclosed. In the condominium sector,sales activity showed 20 percentgrowth but the median price droppedbelow $120,000. Commercial and industrial sales activity through

mid-2010 remains weak, although occupancy and rents are increasing.

Debt RulesThe new game in Guam real estate

is debt. Cash is not king, because debtrules and lenders reign. As the key toleverage opportunity (and risk), debtis now the critical component of mostdeals. As liquidity dried up and speculative

property prices declined since 2007,properties acquired during the boomsuddenly experienced equity squeezes.Now, foreclosure and debt salesactivity dominate the major deal landscape. At the 2009 Micronesia Real Estate

Investment Conference (MREIC) at Leopalace Resort on Guam, we saidthat the future market would be characterized by a "take a banker tolunch" mentality. So as 2010 evolvesinto the Year of Debt, towering statistics are rolling in. Annualized2010 Guam real estate lending isdown by $192 million, or 36 percentfrom 2009 (see chart). Among other financial industry

fallout, Wells Fargo will exit Guam.Notable 2003 MREIC Investor of theYear Mr. Hee Cho stormed back tolife this past quarter by acquiring thefirst mortgages under Talo Verde Estates and Hemlani's Marine Driveland from Nara Bank. The Hemlaniland sold at $6.2 million at the peak,went through foreclosure and recentlysold via auction credit bid at $3.3 million in July, a decline of nearly 50percent. The Talo Verde note was paidin full at the recent closing, but the$25 million second mortgage holderKumho, took a beating.

In Tumon, the buyer of the firstmortgage (sold by FHB at a reason-able discount) secured by the MarriottGuam is working hard to salvage thathotel's future. And debt owners mayprevail at Guam's latest abandoned(temporarily on hold, shall we say?)project, the four massive towers nextto GMH. Debt holders including mostly

Korean lenders are further controllingnumerous peak 2007 deals includingraw land and other abandoned projects. At the same time, off-islandlenders are showing optimism inGuam; most notably via a ResonaBank secured nine figure megadealwith the Leopalace Resort owner (no,it's not for sale), closing the largest realestate mortgage in Guam's history.

Notable DealsIn an unbeatable combination of

debt, equity and connections, TaloVerde Estates luxury residential

project has finally fallen into newhands, sold to a group led by HarryChang. Talo Verde's projected cost of$35 million compares unfavorablywith its $19± million sale price. FirstHawaiian Bank proved its leadershipin lending again with an $11 millionnote on the deal.Other major deals this past quarter

include 13 additional closings at TheLaguna, the high-end lot subdivisionat Pago Bay, at prices up to $476,000. In the condominium sector, nearly

sold out Harvest Residences has beenhighly successful with a perfect com-bination of product and price. Michael Jury and partner acquired

nine Pacific Gardens condominiumunits from the Guzman family at an indicated price of just $38,400 perleasehold unit. During the past quarter,only five condominiums sold at pricesabove $300,000 and just eight housessold at prices above $400,000.


M a r k e t R e p o r t

Significant Future Gains ProjectedSteady Market May Bring 20 Percent Improvement Over 2009

By Nick Captain

G


F e a t u r e

1 0 C a s a G u a m A u g u s t 2 0 1 0

Global Markets Seek Guam As A Destination Boom


F e a t u r e

C a s a G u a m . c o m 1 1

In 2009, Guam’s property market declined sharply, amid the global crisis.Demand om foreign investors fell especially sharply.

Source: Global Property Guide


The median price of single-family homes declined 7 percent in 2009 from ayear earlier, according to the Captain Real Estate Group. When adjusted for in-flation, the median price dropped by about 9 percent. Similarly, the median priceof condominium units fell by around 11 percent (-12 percent in real terms) overthe same period.Guam’s housing market is expected to recover as the military buildup starts.

The planned military expansion in the island is the result of an agreement be-tween the U.S. and Japan to relocate around 8,000 U.S. Marines and their de-pendents from Okinawa to Guam.In 2010, total real estate sales are expected to reach $300 million, up from

$251 million in 2009. “The island’s real estate market saw overall sales dive lastyear, but by the second half of this year, the industry will see things start to re-bound”, says Nick Captain of Captain Real Estate Group.In 2009, the median price of single family homes was about $200,000, down

from $215,000 in 2008. The median price of condominiums dropped to$140,000, from $125,000.There are some restrictions on foreign property ownership. Guam is a terri-

tory of the U.S. and its people have U.S.citizenship. Non-U.S. citizens who havenot declared their intent to become permanent residents (green card applicants)can only buy one house or condominium in their personal names, which mustbe owner-occupied. For investment purposes, however, a foreigner can form a Guam corporation

with at least one local shareholder/director. The corporation can then buy asmuch property as it wants.

Volatile housing market

Guam’s housing market is sensitive to external shocks. This is not surprisinggiven the dependence of Guam’s economy on tourism and U.S. military spending.In the late 1990s to early 2000s house prices stagnated. Then from 2004 to

2007 there was a four-year housing boom, spurred by speculative investmentsfrom foreigners and U.S. military spending, according to the Guam Compre-hensive Housing Study (2009). In addition, declining mortgage interest ratesfueled demand. House prices rose faster than local household incomes, which actually fell - the

average household income dropped in 2008 by 2.7 percent to $45,786, from$47,062 in 2005, according to Guam’s Bureau of Labor Statistics. On the other hand, the median price of single family dwellings rose 54 per-

cent from 2004 to 2007, while the median price of condominium units rose 58percent.

Plunging sales

Property sales fell by 32 percent to $251 million in 2009, the lowest levelsince 2004, according to the Captain Real Estate Group, having already fallen 46percent in 2008, following a peak sales figure of $480 million in 2007.Sales for single family dwellings in 2009 fell 21 percent to about $130 mil-

lion. Condominium sales plunged by about 50 percent to $25 million, whileland sales dropped 55 percent to $50 million. Despite falling sales, the 2009 Guam Comprehensive Housing Study esti-

mated pent-up demand at about 3,665 households, mainly low and middle-in-come households. About 2,068 of these are would-be buyers, while theremaining 1,597 households are would-be renters. Around 25,000 households are currently renting their home, 45 percent of

them occupying single-family dwellings, 15 percent duplexes, 26 percent apart-ments, and 7 percent condominium units. Guam’s population at end-2008 was 176,401, and its median income was

$49,900, according to the U.S. Department of Housing and Urban Develop-ment (HUD).

Housing supply

The construction of residential dwellings in Guam peaked in 2003, whenabout 1,031 permits were issued. Since then, residential construction permitshave been steady, with an average of 470 units from 2004 to 2008. In 2008, 524residential construction permits were issued, up 10.3 percent, according toGuam Department of Public Works. Figures for residential construction per-mits for 2009 are not yet available, but it is believed that there was a decline, dueto lower foreign investments.Despite the increase in the number of permits issued, the value of residential

construction permits in 2008 dropped 24 percent to $69.7 million, reflecting amove toward building low-cost houses.The homeownership rate in the island in 2009 was 50 percent, one of the

lowest in the U.S., based on the 2009 Housing Demand Survey.

Military housing market

The military build-up is a result of an agreement between the U.S. and Japanto relocate around 8,000 U.S. Marines and their dependents from Okinawa toGuam. The relocation is projected to cost over $10 billion.The move should create significant construction and infrastructure oppor-

tunities. Guam’s population is projected to increase by 20 percent, or by ap-proximately 40,000 people, creating demand for additional housing. Two yearsago, foreign real estate investment rose sharply in anticipation of the militarybuildup.Military households make up about 13 percent of total households in Guam,

but the military housing market is independent of the local housing market.Nevertheless, the military presence does impact the local housing market, in

the following ways:

· Some military personnel choose to live off-base· Military dependents may have to live off-base, or choose to do so· Housing for construction workers· Housing for civilian workers· The military buildup results in improved economic prospects for the islan

1 2 C a s a G u a m N o v e m b e r 2 0 1 0

F e a t u r e


Large rental market

Guam has a large rental market. About half the total housing stock is renter-

occupied. Unlike other tourist destinations, Guam’s rental market does not ex-

hibit seasonal characteristics, and the number of advertised rental dwellings is

evenly distributed across all months.

Most residential leases are for one to three years.

Most rental units are in north Guam. In 2009, about 57 percent of all ad-

vertised rental units were in the northern region, primarily in Dededo and

Tamuning; 42 percent in the central region; and the remaining 2 percent of ad-

vertised rental units were in the southern region.

From 2003 to 2006, advertised rentals rose by about 20 percent, peaking in

July 2006. Since then, rents have fallen.

According to the Guam Comprehensive Housing Study, monthly rents in

2009 were as follows:

· The median rent for studio apartments was $486

· One-bedroom apartments had a median rent of $540 per month

· Two-bedroom apartments had a median rent of $689 per month

· The median rent for three-bedroom homes was $1,566

· The median advertised rent for two-bedroom townhomes was $1,307

per month

· Three-bedroom townhouses had an average monthly rent of $1,574


F e a t u r e


Lan

d(H

ouse Lot

& Inv

estm

ent)

Featur

e Pr

operty

Hom

es &

Con

dos

Dededo $165K6bd/3.5ba #10-2961

Villa Rosario Condo-Ded.$142K 3bd/2ba #10-712

Machanao-Dededo$200K 3bd/2ba #10-2054

Agana Heights $189K3bd/2.75ba #10-1773

Goring Villa-Yigo $129K3bd/2ba #10-1724

Dededo $289K3bd/2ba #10-1505

Oceanview Tumon Condos$385K 3bd/2ba #10-1490

San Vitores Garden Condo-Tum.$186K 3bd/2ba #10-898

Anao Pt.,Yigo (New)$285K 4bd/3ba #10-2822

E.Gayinero,Yigo $329K3bd/2ba #10-2899

Dolores,Dededo $232K3bd/2ba #10-2499

Perezville-Tamuning$1.9M 5bd/5ba #10-1816

Machananao,Ded $165K3BR/1.5BA #10-3768

Goring Villa-Yigo $129K3bd/2ba #10-1723

Agat $180K4bd/2ba #10-3351

Villa Pacita Yigo $595K3bd/3ba #10-3321

Mangilao $263K3bd/2.5ba #10-358

Machuate,Barrigada$225K 3bd/2ba #10-33

Villa de Oro, Mang.$140K 3bd/2ba #10-1737

Kaiser,Dededo $218K5bd/4ba #10-35

Perezville,Tamuning$625K 5bd/4ba #09-1332

Bumuchachu,Dededo$360K 4bd/3ba #10-1652

Alupang Beach Tower, Tam.$395K 3bd/2ba #08-281

Tecio Condo,Tumon$600K 3bd/3ba #08-1207

Perez Acres,Yigo $210K3bd/1.5ba #10-428

Spring Hill Sub-Yigo$300K 3bd/2ba #10-2204

Asentadu Villa-Tam$229K 3bd/2ba #10-1623

Villa Pacita Yigo $435K3bd/3ba #10-3320

Adacao, Mangilao $350K3bd/3ba ea. duplex #10-2731

Barrigada $432K4bd/2.5ba #10-3391


RENTALSRte.4, Chn. Pago - Newly renovated spacious 2BR/1BA unit. furnished$1,250/mo. & Unfurnished $1,200/mo. (10-3222)

Scharf, Piti - Affordable and spacious 2BR/2BA unit. $650/mo. (10-2298)

Villa Pacita, Yigo - 3BR/3BA Gated Exec. home. $4,800 (10-3322)

Estralita,Tumon Hts.-4BR/3BA-$1,450 Price Reduced (10-3297)

Perez Acres, Yigo - 3BR/2BA Gated Exec. home. $2,300 (10-3379)

Ypaopao Est.,Dededo - 3BR/2.5BA -$2450. (10-3046)

Papaya Lane, Barrigada - 4BR/3BA Ocean view home. $3,800 (10-3696)

Alupang Cove condo, Tamuning - 1BR/1BA Ocean view home. $1,900(10-3460)

Perez Acres, Yigo - 3BR/2BA Well kept home. $1,700 (10-3559)

Horizon Townhouse, Tumon - 3BR/2.5BA Nice unit in gated community.$1,200 (10-3633)

Villa de Oro, Mangilao - 3BR/2.5BA Spacious third floor unit. $950 (10-3646)

Pia Resort, Tumon - 2BR/2BA Nice ocean and city view. $1,600 (10-3648)

Flora Pago Condo, Ordot-Chn. Pago - 3BR/2.5BA upgraded unit.$1,900 (10-3829)

Pomika Apts, Tamuning - 1BR/1BA Nice unit. $700 (10-3818)

Scharf Apts, Piti - 2BR/2BA Affordable and spaciousunit. $650 (10-2298)

Hagatna - Nice & spacious studio in Hagatna. This is located on the 2ndflr. Due to limited parking space, only 1 car is allowed for tenant. $550#10-3509

Piti - 2 bedroom 2 bathroom. Close to many locations on island, theseunits are centrally located. $650 #10-1221

Ana Lee Apartment Mangilao - Conveniently located near Guam Com-munity College. Section 8 acceptable but subject to verification of pre-vious landlord. $750 #10-127

Tamuning - 2 Bd., 1 Ba., unit behind GPO in heart of Tamuning. Unit isin the 1st flr w/large Master Bedroom. It has a covered outside kitchenarea in the rear & 1 covered side carport. Very nice & neat. SECTION 8LEASE OK!!!! $900 #10-3480

Pacific Towers Condo Tamuning - Section 8 Accepted for this unit, lo-cated on the 7th floor w/partial oceanview. Starter unit for family w/kids& centrally located in Tamuning. Unit comes w/water, pool & coin oper-ated laundry facility on the ground floor. 24 Hours security service.$1,254 #10-1209

Tamuning - A large 4 bedroom, 3 Bath, 3rd floor apartment off of YpaoRoad near Royal Gardens. It has a walk around balcony. Basic appli-ances & air conditioners are included. It comes w/2 assigned parkingspaces. $1,500. #10-3297

Horizon Townhouse Tumon - A nice kitchen nook countertop made ofgranite stone, which you will no longer need a dining table. Rent it be-fore buying. $1,700 #10-923

Perez Acre Townhomes-Yigo - 3 br 2 bath,central A/C, 1 split in mas-ter br, marble floor, pool, gated security, close to school & shoppings.$1,700/mo #10-2944

Blue Pacific Lattice Cond Tumon - Fantastic view of Tumon Bay! Cozy1 bedroom unit on the 7th floor. New ceramic tile floor. Semi furnished& owner is flexible for additional furniture. Rent includes water. $1,900#10-2846

PIA Marine Condo-Upper Tumon - Ocean view unit on the 5th floor.Fully furnished. Also includes TV, microwave oven, pots, pans, dishes,utensils. Conveniently located right off the elevator. Amenities: pool, ten-nis courts, convenient store, exercise room, mail delivery, Back up gen-erator. $1,900 #10-2578

Trophy Condo Yigo - Great condo minutes to Andersen AFB & grocerystores. Safe well lit condo that is modern. Unit can come furnished orunfurnished & the tenant gets to pick out the furniture if they want to.Also comes w/a membership to the Nikko Hotel for the use of their fa-cilities, to include the pool & many other amenities. $1,900. #10-2821

Perez Acre Townhomes-Yigo - 3-bedroom unit in established & wellmaintained Perez Acres complex w/the amenities to enjoy: swimmingpools, fitness park, basketball court, play ground, mail delivery, a 24-hour security, on-site management, pro landscape maintenance & more.Conveniently located to business establishments & schools in the area.$1,900 #10-1921

Perez Acre Townhomes-Yigo - Located in Guam’s best maintained res-idential complex, “Perez Acres”, this 2 story 3+1 bedroom Condo. offersyou a comfortable home. The enclosed patio provides you w/extra livingspace & storage. The complex is gated, has two swimming pools, play-grounds & recreation areas. Mins away from the Air Force Base. $2,300#10-3379

Yigo $65K1,853sm #10-1037

Piti $125K1,246sm #08-3496

Yigo $65K1,853sm #10-1036

Piti $3,280,000545,687sm #06-605

Barrigada $545K4,171sm #10-987

Merizo $250K43,837sm #10-622

Macheche-Dededo $100K1,730sm #09-2902

Yigo $55K1,432sm #09-1144

Piti $498K15,088sm #09-264

Tumon $8,386,4709,423sm #08-3021

Dededo $486K4,460sm #10-2670

Tamuning $700K1,908sm #08-332

Ipan-Talofofo $575K27,774.22sm #07-3850

Yigo $3,776,24058,096sm #07-328

Dededo $1,202,92014,152sm #10-2590

Asan $650K7,984sm #09-1983

Yigo $55K1,417sm #09-3041

Santa Rita $89K5,536sm #07-672

Tamuning $260K702.24sm #10-843

Agat $648K49,000sm #10-1802

Laguina Estates Yona$68K 1,211sm #10-2656

Rt. 15 Yigo $180K7,407sm #06-2108

Agat $12M140,150sm #07-1156

Dededo $60K2,075sm #10-635

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Acanta MallVarious retail

spaces-from 654sq.ft to 1970 sq.ft.MLS#10-3719Call for Details.

Featur

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bout four or five years ago therewas great anticipation that Guamwould experience another signifi-cant economic boom, one like noother before, boasting billions ofdollars spent locally by the Federal

Government and Japan over the course of manyyears which would transfer United States Marinesand Military Members stationed in Okinawa to theisland and creating enough infrastructure to sustainan estimated 10-20% population increase across theboard. Wow, now it’s finally here. After much coordination, cooperation and

collaboration between the powers that be, the FEIS(Final Environmental Impact Statement) wasapproved in July. The ROD (Record of Decision)was handed down by DOD (The Department ofDefense) last month with more details and the remaining issues to be ironed out by the CMCC(Civilian-Military Coordination Council). It is official, the buildup has begun. Local and

international investors are scrambling once againand strategizing moves to maximize on potentialgains, if they have not already done so. Multi-million dollar contracts are being awarded

as I write this article and those that see it coming cancapitalize as we welcome in a brand new era of unprecedented economic growth. So now what?In the words spoken by our NAR (National

Association of Realtors) incoming president RonPhipps at the 2010 Leadership Summit, “Seize theday!” Invest in your very first home, purchase land,build on the land you own, buy a second home, fix itup, resell it or rent it out, build a commercial building or multi-family dwelling unit, start a smallbusiness, expand your big business, you fill in the

blank, you write the check, heaven has no limit towhat you can imagine. Why wait? Signs say the cost of living will soar, so much that

even the average working class individual may notbe able to keep up with rising housing rates and expenses as a result. Don’t delay. Make your move. Ifyou have property that’s been sitting you have beendying and trying to sell this may be your chance. Accept my invitation, put the property back on themarket, price it right and it should move. Here’s another crazy idea. Sell Guam and invest in

the Mainland. You can catch cool foreclosure dealsin California or other states across the continentalU.S. Get in touch with your local GAR (Guam Association of Realtors) real estate professional forcreative counseling and free consultation. See exactlywhat your options are and what it will take for youto make your dreams a reality. It is true, lending requirements have toughened

up tremendously, which could hinder your chanceof moving forward, but overall interest rates formortgage loans are still incredibly low, the lowestever. Prices should continue to increase, like we’veseen, from here on out for years to come. Goodcredit is essential in order to qualify for most affordable financial programs, but not always thecase thanks to Guam Housing Corp. and GHURA. It is always a good time to budget wisely and live

within your means right? Why not take this time toclean up your credit, pay off your existing loans, consolidate loans if you have the cash, maybe evenrefinance your home so you can reduce yourmonthly obligation, shorten your loan term, reduceyour interest payments, pull out equity for your nextinvestment move, whatever it takes so that you canget going before you get left behind.

Real Estate is not rocket Science. Simple Mathsays 2+2= 4. Calculating the next equation shouldalso be a cinch: Guam + Build-up = Economic Opportunity. What more can I say. What have you got to lose

when there is so much more to gain? Why rent yourhome when you can own your home? Why waitwhen the time is right now? It makes absolute sense to the one who will visualize, realizeand comprehend the trend, go with the flow anddemonstrate due diligence. To those that do not it’sinsane and what a shame. Here is my invitation toyou, invest in Guam Real Estate right now! The onlything standing in between you and your dream isYOU so get yourself ready Guam and take advantageof the boom!

Take Advantage of theBoom!


F r o m t h e E x p e r t s

ABy Ryan De GuzmanREALTOR®, Century 21 Commonwealth Realty


Casa Guam is a wonderful source for people to

understand the real estate industry and empowers

them with valuable real estate knowledge.“ “hen Shawntel Techaira was deep in her work as a credit man-ager for one of America’s largest corporations, little did sheknow that it would open the doors for a career in real estate.She says that it was with this company that she learned behind

the scenes what goes into obtaining and maintaining homeownership.In 2007, Techaira met her would-be broker, Anthony Godwin at a dinner

event. She says, “His down to earth personality and professional reputationimpressed me,” and she shared with him her desire to join his team. Her en-counter with Godwin began a journey into real estate full time that has beenrewarding both personally and professionally, she says.She says, “Being from Guam, our culture is very generous and hospitable.

Working with so many people who are new to the island, I carry the Hafa Adaispirit and want to foster a Guam-is-Good vibe.”She works to pay forward the kindness she has been blessed with in life to

her clients and in turn, receiving a referral is the biggest compliment and thekindest gesture her clients give her.But Techaira says in an industry that favors tenure and experience, she was

challenged by the demands to earn income right away, while developing aclientele base during the infancy of her career. She says John Lin, part owner of Today’s Realty, gave her valuable insight

into the business coupled with stern advice, saying “I’m not going to hold yourhand, I’m not going to tell you how to do it, if you want it (success), you willget it.”This no hand holding approach taught Shawntel that real estate is not a get

rich quick scheme and that determined and consistent effort will sow the seedsof a career that is sustained for the long term.This is just one story of overcoming challenges she shares, but she testifies

that she couldn’t have made it this far without the support of her teammates,family, close friends and the daily inspiration from her daughter.In the next few years, Techaira aspires to lead a content life while being a

positive role model to her daughter and family.Outside of work, she admits she is an information junkie, spending many

hours reading online and offline about business, human dynamics, and mar-keting. She is also a volunteer with the Guam USO as a tribute to many closefriends, family, and her brother Paul B. Techaira Jr. serving our country.

From Creditor to Realtor


P r o f i l e

SShhaawwnntteell LLeeiillaannii TTeecchhaaiirraaREALTOR®

Today's Realty

Family: Kaeli Star Perez, daughter

Motto: “Be nice and make friends, it’s a small

community.” - Tony Hsieh

Hobbies: Reading and volunteering at the USO

WBy Faye Varias

Shawntel Techaira Emerges From Behind The Scenes To Join The Real Estate Industry.


“



How to Apply Elastomeric Cool RoofCoatings in 3 Easy Steps


H o w T o D . I . Y .

By Mark S. Burke with Guam Home Center

kay, admit it. When it comes to ourroofs, most of us think we need to callin an expert! I used to hear the wordselastomeric coating and suddenly havevisions of people in hazmat suits with

special applicators and EPA Licenses! Well takeheart Do It Yourselfers! It ain’t that big a deal!Any Do It Yourselfer willing to spend a little time

in the sun, (and that’s good for you, right? Think ofall that vitamin “D” you’ll be getting up there!), and a little dedicated effort can apply your own roof coating. We’ve all heard how great this stuff is, it cuts your

energy costs and helps your air conditioning workmore efficiently...Well, for once it’s true! By applyingan elastomeric coating to your roof you can actuallyreduce your energy costs by as much as 30 percent!Of course, this is a bit bigger job than most simple

home repairs, but don’t let it intimidate you; “Howdo you eat an elephant? Cut it into bite sized pieces!”Applying elastomeric coating to your roof can be

cut into three bite sized pieces:

• Clean the Surface• Repair and Reinforce• Apply the Roof Coating

Let’s take them one at a time.

STEP 1: CLEAN THE SURFACEClear roof surface of loose debris including dirt,

gravel, sticks, etc. using a push broom or blower.Wash away surface dirt with a pressure washer.

STEP 2: REPAIR & REINFORCEPatch and repair cracks, blisters and other prob-

lem areas using Black Jack Roof-Patch or STA-KOOL White Acrylic Roof Sealant, following labeldirections. Reinforce with Universal Patching fabric.

STEP 3: APPLY COOL ROOF COATINGOn a clear, warm, sunny day (65°F and rising),

apply Black Jack,Gardner or STA-KOOL Elas-tomeric Roof Coating to a dry roof surface. Cut inalong edges, then move from one end of the roof tothe other keeping a continuous wet edge. Follow alllabel directions.

Sure, it’s a bit of a challenge, but just think howproud you’ll be when your power bills go down andyou can tell your neighbors “I did it myself and savedmoney there too!” It’s always fun to stretch and challenge your DIY skills!

O Here is some additional informationto help with your project:

You can apply Elastomeric Coatings to:

• Metal • Urethane/polystyrene foam• Concrete roofs• Aged roll roofing, existing aluminum & white coatings

• Flat and barrel cement tile

Here are some recommended Applicators:

Patching material: brush or trowel as indicated on container instructions.Elastomeric coating: Roof brush, ¾”naproller, or airless spray in 10”- 12”pattern,2000 psi, .021 to .025 spray tip

Coverage: How much do I use?

Two coats are recommeded to ensure complete coverage

For Metal surfaces: 80-100 Sqft. per gallonFor porous surfaces: including foam,

concrete, tile, roll roofing, and previously coatedsurfaces use 50-75 Sqft per gallon

If you need addition help or have questions youcan alway visit Guam Home Center and get every-thing you need there, from good advise, to toolsand materials. Have fun and save money, whatmore could you ask for? Good luck!


5 Ways to Improve Curb Appeal and Sell Your Home


C u r b A p p e a l

W ith so many homes on the market these days, you've got to make yoursreally stand out from the crowd if you want to sell it quickly. Neverunderestimate the power of curb appeal at drawing in prospective

buyers and generating interest in your home. After all, no one wants to tour ahome that looks shabby and poorly maintained from the outside, much less buyit. Sprucing up your home's curb appeal doesn't have to extremely costly. To thatend, we've compiled a short list of five things you can do to quickly and easilyboost your curb appeal.

1. Clean up your front yard and landscaping. No one likes a yard that ispoorly maintained, and a good mowing, trimming, and edging of the lawncan go a long way toward cleaning up your home's outer appearance. If yourlandscaping is looking shabby, go through and weed thoroughly, trim thebushes, and apply a new layer of mulch.2. Add some architectural details. A little something on the front of yourhome can go a long way toward setting it apart from the competition. Onegood option might be to add shutters, either functional or decorative. If youopt for functional shutters (a more expensive option, but one that will also improve your home's value), be sure to choose good quality shutter hingesand hardware that won't rust.3. Paint your front door. A freshly painted front door can make a big difference, and it's not nearly as expensive or time consuming as painting theentire house. Consider a bright color that will coordinate with the color ofyour siding and trim. Red is always a nice choice, because it draws the eye inand creates a focal point.4. Add new door hardware. Once you've got your door painted, completethe look by adding a new door handle. Remember that the front door is thefirst thing that prospective buyers see when they are entering your home, so

you want it to look its best, and a new handle in a nice finish is a great touch.Don't forget the storm door, too. If you have a storm or screen door, be sureto clean it thoroughly, including the glass or screen, and consider buying somenew storm door hardware in a color that will coordinate with the hardwareon your prime door.5. Update your address plaque and/or mailbox. If your home has a housenumber plaque or a mailbox on the front of it, you want to be sure these lookgood and are in good repair. If they are not, it's worth a little bit of money tobuy new ones in colors or finishes that coordinate with the rest of your home'sexterior. A lighted address plaque can also be a particularly nice touch, anda minor selling point for the home, because it improves home safety. If you'llbe buying a new mailbox for the front of your home, consider a locking box.This is another small selling point that buyers will appreciate because it addsto home security.

As you can see, it doesn't take much to improve your home's curb appeal. Oneday on a weekend will be plenty of time to do a few updates, and the small improvements that you do make will go a long way toward helping your homesell faster and bring more money.

By Ellen Bell

About the Author:Ellen Bell works for Home Products n' More, a company dedicatedto providing quality products for the home, garden, and auto. Visit us at http://www.homeproductsnmore.comUnder Creative Commons License: Attribution


M A R K E T P L A C E

2 4 C a s a G u a m A u g u s t 2 0 1 0



W h o Y a G o n n a C a l l

EDWIN “ED” G. KIPPENHAN


Commercial RentalsCCHHAALLAANN PPAAGGOO

Commercial space for rent. Approx 2155sq ft. Ideal for laundromat, bakeshop,video store or retail business. Asking

$2,500/mo. Please call ANGIE @ 727-2228

Commercial space for rent. Approx 850sq ft., video store or retail business. Asking$850/mo. Please call ANGIE @ 727-2228

HHaaggaattnnaa

3rd Floor Residential and 2nd floor com-mercial space available. Walking distanceto restaurant, courthouse and banks! Call

DEE @ 727-3777

DDeeddeeddoo

Dededo Office Great Office space for Pro-fessional Businesses 450 sq ft. with stor-age area. Of 144sq ft. Space includes

water and power, small ''kitchen'' area andrestroom, 2 split a/c units, blinds andtrash all included. A great rate for yoursmall business. Asking $ 890/month.

Call DEANNA @ 688-2855

106 East Sta. Barbara, Dededo 4bed/1 bacorner house, fenced, and gated. Cen-trally located close to church, school andmalls. Asking $1,200/month. Call MYRNA

@ 488-0144

TTaammuunniinngg

Tamuning – Oka Plaza Commercial Of-fices -Unit 201 is a choice location on the2nd floor. Rental space can be larger byjoining adjacent offices w/ pass thru door.Basic rent for #201 is $810 plus caf of$121.50( .15 cent per sf). Full back upgenerator. After 1 week, tenant to sharecost of operating generator$810/mo. .Please call 637-7165 / 688-0887 / 689-

3333 / 477-7042

Tamuning Commercial Spaces 500 sq ft~ 2400 sq ft. Asking $1.15/sqft + com-mon area. Please call 637-7165 /688-0887 / 689-3333 / 477-7042

TTuummoonn

Upper Tumon: Young's Plaza: Maximumexposure! For less than a $1/sq ft youcan have your office along prime MarineCorps Drive frontage! Corner of Route 1and Hamburger road. 2nd floor unit. Ask-ing $800/month. Call EVELYN @488-2703

Commercial SalesDDeeddeeddoo

Business opportunity: Restaurant for saleon one of the island's busiest thorough-

fares. Asking $50k. Call GREG @ 777-6441

TTaammuunniinngg

Business opportunity. Event planningbusiness for sale in a great location. Ask-ing $40,000. Call KAMAKA for more info

@ 689-2553

UUppppeerr TTuummoonn

BUSINESS FOR SALE : Located in a verypopular business and food establishment,you'll love the ambience and the look of thisbusiness for sale. Equipped with everythingto run a restaurant, this business opportu-nity awaits you. Asking $75,000. Please call

SHAWNTEL @ 483-8776.

Residential RentalsAAggaatt

1br / 1ba house, close to schools, stores,beach and church. Asking $600.00. Call

649-8265 or 888-7447

3 bedroom / 2 ba house, close toschools, stores, beach and church. Ask-ing $1250.00. Call 649-8265 or 888-7447

AAssaann

Asan Beach House Newly Renovated,Fresh paint and ceramic tiles. Asking:$2,200.00/mo. Call FRANK @ 479-4663

Asan 3bd./2ba. Ocean Views Newly Ren-ovated - All ceramic tiles. New a/c's. Ask-

ing: $1,900.00/mo. Call FRANK @479-4663

BBaarrrriiggaaddaa

Barrigada – Tri-plex - 2b/1b, 1st floor w/yard. $850/mo. – Sec. 8 ok. Please call637-7165 / 688-0887 / 689-3333

CCHHAALLAANN PPAAGGOO

Flora Pago Gardens Condo. Security,Pool, BBQ area, Minutes to hospital, ,

Agana Shopping mall. Asking $1700/mo.call PAT @ 727-4728

Flora Pago Condo - Awesome 2bd/1.5baunit w/a redone kitchen, ceramic tiles onthe first floor & Berber carpet from thestairs to the 2nd floor. Swimming pool onthe grounds. Basic cable, telephone and in-ternet also included. Asking $1700/month.

Please call JEFF @ 777-2227

DDeeddeeddoo

Dededo – 2br / 2ba Ester Gdn(formerlyEster Villa) Apt is near McDonalds NCSand Finegayan Elementry School. This isa must see complex with nice floor plan,central a/c, accordian typhoon shutters,refrigerator, stove/oven, washer & dryer.Sec 8 OK with one month fully paid secu-rity deposit & utilities in tenants name.Shows Very Well.$850/mo. Please call637-7165 / 688-0887 / 689-3333

Great spacious house located near Para-dise Estates. 5bd/3bth. Section 8 okay

with full security deposit. Call 646-9870/1

Villa Rosario - Large 3bd / 2 ba First floor,pool, tennis court, excellent condition.

Asking $ 1,500. Call 637-7165 / 688-0887/ 689-3333 / 477-7042

3Bd/2Bd/1Bd located nearschools/church/store and front of parkSemi-Furn. Sec.8 & Military OK. Pls. leave

message at 632-1200


Maite – 2b/1b, 2nd floor, near Shop – 4-Less. $850/mo. – Sec. 8 ok .Please call637-7165/688-0887/689-3333/477-7042

MMaannggiillaaoo

Nice house on a cul-de-sac street in LatteHts. 4 bedrooms, 2 baths with all ceramictiles and split a/c units per room. Newerkitchen counters and appliances. Fencedback yard. Has always been leased to mil-itary personnel for their tour on Guam.Asking $2,100 / month. Call DEANNA @

688-2855

PPiittii

2br/1ba apt close to Port Authority ofGuam , NavSta, Polaris, store, church,park and beach! Ocean Breeze Apart-ments $600. Call 649-8265 or 888-7447

TTaallooffooffoo

A 2 bedroom 2 bath in Ipan Talofofo. Thewhole home has just been painted, Cleanand ready for you to move in. Large un-covered parking on the side, inside laun-

dry off the kitchen. Step up into thebedrooms. Master bedroom is big

enough for a king set and second room isenough for a full size bed or use it as an

office. Asking $2,100/month. CallDEANNA @ 688-2855

Ipan Talofofo 3 bd House for Lease: Liveon this quiet street and enjoy the views,and the breezes. This 3 bedroom 1.5 bathhas all ceramic tile, split a/c units largewindows, typhoon shutters and securitySystem Installed. Water included and thefurniture can stay or be removed by re-quest of the Tenant. Asking $1950/mo.Call DEANNA @ 688-2855. MLS 10-1400

TTaammuunniinngg

Large 3bd/ 2ba 2nd floor. good location.Asking $1,300. Call 637-7165 / 688-0887

/ 689-3333

Tamuning home with 5bd/5ba, 4,000± sqft with swimming pool, Ocean view andback-up generator. Rent this home

TODAY at $5,000/month. Call TOMAS @687-4663

Tamning behind GPO - 3 bedroom 2bathroom, 2nd floor, stove / refrigerator.Asking $800.00. Call CORAL SEA

REALTY 649-6088

Beverly Palms Condo; Newly Renovated3bd./2ba. 2 Story Townhome Asking:$1,750.00/mo. Call FRANK @479-4663

Ypao Apartments 2bd./1ba Directlyacross Ypao Beach Asking:

$1,250.00/mo. call FRANK @ 479-4663

Jonestown 2nd Floor Duplex: Private En-trance, Full front Covered Balcony, All Ce-

ramic Tile, Wood blinds, stainlessRefrigerator, Stove/oven, Renovated Bath-room, Split a/c's, inside laundry room andI must say ''Very Nice''. You will feel right athome in this unit near Guam MemorialHospital. Asking $1,900/month. CallDEANNA @ 688-2855 MLS 10-1372

TTuummoonn

Popular Pia Marine 2 bedroom 2 bathunits available for Month to Month Rentals.Utilities/Furnitures included with cleaningservices. $2400.Call Nick @ 689-2939.

Tumon – Dai-Ichi Condo – 3b/1b, 3rdfloor. $1,300/mo. Section 8 OK. Pleasecall 637-7165 / 688-0887 / 689-3333 /

477-7042

Tumon Heights Court - Very Nice 3bd / 2ba, corner unit, excellent condition, pool.good location. Asking $1700/m. Pleasecall 637-7165 / 688-0887 / 689-3333 /

477-7042

Tecio Tumon Villa: Nice two bedroom twobath condo located in Tumon. Condo isjust a walking distance to the beach,

stores, restaurants and nightlife. Asking$2,100/month. Call VIC @483-7518

FURNISHED,remodeled ,upgraded endwith best view in Building A. Covered bal-cony overlooks hotels and Tumon Bay.Walking distance to beach, restaurants,bank and shopping. Building A has sev-eral guest parking next to security guard

sta & mail boxes. Asking $1450/m.Please call 637-7165 / 688-0887 / 689-

3333 / 477-7042

Tumon Holiday Manor ; 4 bedroom, beati-fully furnished with pool and BBQ area,

near beaches. Asking $3,800/month. CallVICKI for a showing @ 687-3558

Happy Landing Road, Tumon 3bd, 2ba,Condo : Enjoy your island paradise in this2nd floor unit within walking distance ofTumon Beaches. Complex has a pool

and the unit is all ceramic tile, central a/cand accordion typhoon shutters. Asking$1,900/month. Call DEANNA @ 688-2855

MLS 10-133


C l a s s i f i e d s


Tumon Penthouse for Lease: A Rare Pent-house, Oceanview unit is now available.This large 2 bedroom 2.5 bath Condowas upgraded and is in like new condi-tion. Security, Full Back-up Generator,

Pool, 2 parking all go along with your de-sire for the ''good life'' while on Guam.Water included. You CAN have thedream. Asking $3,800/month. CallDEANNA @ 688-2855 MLS 10-744

Tumon Horizon Condo.Located in UpperTumon ; 2 bedroom / 1 ba, furnished unitw/ water and basic cable, pool, security.Close to mall and beach. $1100.00. Call

CORAL SEA REALTY @ 649-6088

San Vitores Terrace Condo: 3bd/2ba, 3rdfloor unit with oceanview, upgraded unitwith new carpets, pool, security and basiccable TV. $1800. Call Coral Sea Realty

649-6088

YYiiggoo

Newly renovated home with ceramic tilesand lots of storage space. The kitchen

and living room were nicely done and thelarge lawn gives lots of playing room forchildren. Asking $1900/m. Call LOU @

483-1384

4bd./2ba. With outside covered patio andshop area. Asking: $1,300.00/mo. Sec. 8

Welcome Call FRANK @ 479-4663

Perez Acres: 4 bedroom, 2 bath with pool& playground. Corner unit. Asking

$1,900/month. Call SANDY @ 687-6006

Upgraded and plenty enough room forthe family. Lanai is a plus - bbqs, kiddyrides. All this in Guam's most inviting

gated community. Located at the end ofthe cul-de-sac with a bbq cabana in yourfront yard and plenty of guest parking.Just a walk away from the pool, play-ground and basketball court. Just min-utes from AAFB.. Asking $2,100.month .

Call JOYLYN @ 488-5069

Perez Acres: 3 bedroom / 1.5 ba town-house with extra room great for family

room or office, gated and secured commu-nity, pool, mail delivery. Asking $1900.00 .

Call CORAL SEA REALTY 649-6088

Residential SalesBBaarrrriiggaaddaa

4bd /2ba Barrigada home is located in avery nice and quiet neighborhood. Cen-trally located with a large lot an not tomention home is in excellent condition.Asking $325k Call TONI @ 687-8714

Opportunity Knocking.... Buy the homeyou deserve! Newly renovated 4BR/2BAhome with a snazzy kitchen, fenced andwaiting for YOU to move now! Asking$445,000. Call DEANNA @ 688-2855

Studio, 1 bedroom, 2 bedroom. Clean,Renovated, Ceramic Tile, Pool andWATER included. Call 646-9870/1

3 bdrm/1 bath home with a separate stu-dio in the back that has its own outsidecovered kitchen. Centrally located homenestled in a breezy and quiet cul-de-sac.Minutes away from UOG, GCC & GW

High School. Newly renovated bathroomin the main home with new stove/oven &refrigerator. Large carport enough to park

5 or more cars. Call 646-9870/1

CChhaallaann PPaaggoo--OOrrddoott

Ordot - Chalan Pago ;Quiet, Private, andcentrally located 4 bedroom 3 bath houseon a 1/2 acre lot. this would be great ifyou enjoy your privacy and appreciatebeing close to shopping malls, grocerystores, and schools. Asking $315,000.Call JOYLYN @ 488-5069 for a showing.

MLS 10-2077

Apusento Gardens Condo : Great pricewith seller financing. Just like you pay

monthly rental, without bank fees. Down-payment is required. Asking $105k. Call

JAMES @482-0498

DDEEDDEEDDOO

Newly built Dededo home with 3bed /2ba house with car covered garage, ty-phoon shutters, ceramic tiles, nice

kitchen, fenced and gated. Asking for$219k. Please call MYRNA @ 488-0144

Las Palmas Phase I Great 3bd / 2.5 baTownhouse style condo. Great for first

time home buyer or investor. Complex in-cludes Pool, playground, BBQ cabanasand night security. Asking $195,000.

Please call DEANNA 688-2855

Dededo Villa Rosario Condo 3bd/2ba 3rdFloor located beside pool Great Invest-

ment - Pls call 632-1200

Dededo Multi-Family House / Good Invest-ment located front of Dededo Mayor's Of-fice/Park & Library Fully Occupied w/

Tenants - Great Neighborhood in a Gatedand Corner Lot For Qualified & Serious Buy-ers Only! Pls leave message Ph: 487-1862

A nice 3bed/2ba house completely reno-vated in 2008 with ceramic tiles, frenchwindows and security grills, waiting to beyour home. Located in a quiet neighbor-hood that's perfect for raising a family.

Priced to sell at $169,000. Call MYRNA @488-0144

Dededo house with 3bed/2ba, fullyfenced, income producing and lots of po-tential. Asking $185,000. Please call

ANGIE @ 727-2228

IInnaarraajjaann

2 bedroom / 2 bath on a living area of800 sf and 5,526 ± sm lot. Fixer upper

home on a beautiful beach front property,over an acre in size. There is already

Power&Water if you would like to rebuild.Asking for $628,054. Call DEANNA @

688-2855

MMaannggiillaaoo

Latte Heights House with 3 bed / 2 ba,ideal location with carport, fully fenced,gated, spacious yard with patio. Asking$200,000. Please call ANGIE @ 727-2228

MMoonnggmmoonngg

Exceptional 3bd and 3.5 ba home waitingfor that special family to fall in love with.Enjoy the view, separate refrigeration andstove for the person who enjoys cooking,the pool and the great central location.Asking $630k Call JUDY @482-7775

TTAALLOOFFOOFFOO

Talofofo Homes for Sale: Great starterhome on large lot with fruit trees. Outsidekitchen and laundry room with metal roofattached to house. Asking $85,000. Call

LIBBY @ 686-2627

TTaammuunniinngg

Private and secluded Tamuning3bed/1ba house with partial ocean andcity view. Recently painted and upgradedwith ceramic tiles, french windows and

accordion typhoon shutters.

Fenced and gated, and comes with 4split A/Cs'. Asking only for $229K. Call

MYRNA @ 488-0144

TTuummoonn

Priced to SELL! Rare Tecio 2 bedroom 2bath unit for only $265,000. Ocean View,

909 sq ft. Fee Simple Call Nick @689-2939 for easy showings.

YYiiggoo

Yigo Duplex, income producing 3bd/2baeach unit on half care lot. Only minutes toAAFB Asking $298k. Call ROWENA @

777-4317

Don't miss out on this very well priced 4bedrooms with 2.5 ba with 1,687 sq ft atthe end of a quiet culdesac in MarianasTerrace in Yigo. Price REDUCED to$169,000. Call RENEE @ 777-7071

Perez Acres Yigo ; Popular neighborhoodfor both owner-occupant and investor.

Great community amenities that are fam-ily-friendly - playground, pools (yes, 2),jungle gym, sidewalks, basketball court,on-site property management, gatedcommunity. Investors flock to this com-

munity - just minutes from both AndersenAir Force Base and NCTAMS - and soon,the Marines' base. Lanai enclosed formore square footage. Asking $208,000.

Call JOYLYN @ 488-5069.

YYoonnaa

Baza Gardens 3bd./2ba 1,600 s.f.Ex-tended with game room. Asking

$175,000.00. Call FRANK @ 479-4663


C l a s s i f i e d s



elling a home is like climbing Mount Everest – getting a signed contract is a great accomplishment, but that's only half the journey. The typical home sale today involves more than 20 steps after the initial contract is accepted to complete the transaction.

Much of what needs to be done before the closing is the responsibility of appraisers, loan processors, attorneys, and inspectors — the REALTOR®'s role is to co-ordinate those responsibilities, helping to ensure that others do their jobs promptly and correctly and that the closing isn't jeopardized. Many steps between contractratification and closing involve the cooperation of both buyer and seller, and attentive REALTORS® on both sides of the transaction

C l o s i n g

Message from the Executive Officer

Guam Association of Realtors®

The Voice for Real Estate on Guam

POST-CONTRACT PITFALLSHome Selling from A to C (Acceptance to Closing)

HOME SELLERS1. Select an escrow agent.

One of the parties selects an escrow agent. The escrow agent will collect the necessarydocumentation from each side and will conduct the closing.

2. Assemble condo or home owners association (HOA) documents.Sellers who live in condos or in a neighborhood subject to an HOA must provide finan-cial statements and recent reports to the buyer for review.

3. Order a preliminary title report.A title search examines all public records to determine any defects in the chain of title;in other words, to confirm that the seller actually owns the property and has the right totransfer ownership.

4. Request a satisfaction letter from present lender.Total amount due on any existing mortgages must be provided in advance of settlement.

5. Coordinate home appraisal and inspections.Arrangements for access to the property must be made for the lender's appraisal and anyinspections as specified in the contract.

6. Arrange final utility readings and payments.When bills are prepaid, payments will be prorated at settlement between buyer and seller.

7. Obtain home warranty policy (if applicable).If a seller has offered a home warranty policy, he or she must obtain this policy beforeclosing.

8. Complete repairs.If the sellers have agreed to make repairs as a result of a home inspection, these must becompleted. If repairs require a building permit, sellers must apply for one as soon as pos-sible, because this could delay

9. Have an attorney prepare the deed.The deed is the document by which the owner transfers title to the property.

10. Arrange for payment of transfer taxes.Most states require a tax on transfer of property. This expense is most often the respon-sibility of the seller. Cities and local municipalities may also charge transfer taxes.

HOME BUYERS1. Deposit earnest money funds.

Earnest money funds are deposited according to instructions, which include who willhold the deposit, whether interest is to be accrued, and conditions of release. These fundsare applied to the down payment at closing.

2. Make the final loan application.If interest rates are falling and more home owners are refinancing, additional time maybe needed to obtain a mortgage commitment. If the property is being financed with a VA,FHA, or other government-backed loan, it will be necessary to obtain copies of correctlyfiled building permits for all remodeling or additions done since the original construc-tion. Decisions about locking in interest rates can be made at any time after a contract isratified.

3. Order the home appraisal.Lenders require an appraisal before committing to a loan. Appraisers compare the featuresand condition of a home to similar properties to arrive at a dollar figure for its value.

4. Arrange the property survey.A survey determines the boundaries of the property, its location, and the size and shapeof any buildings on the lot. The survey also identifies any existing easements or en-croachments.

5. Order inspections.Inspections may include those for home condition, radon, lead, earthquake, and termiteinfestations. Inspections should be ordered as soon as the contract is ratified so there istime to remedy any problems or renegotiate terms. REALTORS® have established rela-tionships with inspectors and contractors to help ensure that their transactions get pri-ority in busy times.

6. Verify employment and financial information.Lenders will require buyers to verify employment and financials before committing to theloan to ensure that there have not been significant changes since the process began.

7. Purchase homeowners' and hazard insurance.Homeowners' and hazard insurance is required by lenders; in some areas, flood insuranceis also required.

8. Obtain title insurance.Title insurance can help ensure that title defects will not make a property unsaleable inthe future because of:

• Forged documents • Undisclosed heirs to the property • Mistaken legal interpretations of wills or trusts • Misfiled documents — deeds, liens, mortgage satisfaction documents • Confusion caused by similarities in names • Incorrect marital status • Mental incompetence

9. Secure a loan commitment.Lender notifies escrow agent of commitment and confirms settlement date.

10. Transfer utility accounts.Utilities should be transferred into the buyers' names as of the date of settlement.

11. Complete the final walkthrough.Buyers walk through the property with their REALTOR® shortly before closing to ensurethat the property is being delivered in the condition agreed to in the contract.closing.

S

Time Estimates for DelaysWhen things go wrong, closing can easily fall behind. Here's how much time to expect

on particular delays:One-Week Delays

• Buyer submits incorrect information to lender. • Source of downpayment changes. • Escrow fails to notify parties about missing documents. • Principals leave town without signing all necessary papers. • Unknown defects are discovered in the property. • Last-minute liens discovered. • Cloud on title. • Move-out date changes.

Two-Week Delays • Lender decides at the last minute it doesn't approve of the borrower or the property. • Lender raises interest rates. • Lender requires last minute reappraisal or repairs. • Appraisal too low.

REALTORS® have extensive experience in handling problems that may ariseduring the time between contract and closing; they can anticipate difficultiesand address them in time to ensure a smooth settlement for all involved.


casaguam vol. 3 issue 11

Documents

themilitary buildup

buildup speed

year period

traffic jamsand slowdowns

slowthis buildup period

g e f r o

guam real estate

triintersection slowdowns