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CONTENTS

Message From GAR

Departments 4

Market Report

10

2011 Year in Review

8

Feature The Other Side of the Fence Is the grass really greener elsewhere?

10

On the Cover Villa Kanton Tasi Amazing Panoramic Views

12

Our Environment

May 2012 • Vol. 5 • No. 05 P.O. Box 24881 Barrigada, GU 96921 Tel: (671) 472-3495 | Fax: (671) 472-3498 email: office@yellowpagesink.com

A Brighter Solution

14

In Our Community PHARE 2012

16

Profile Ramon Espenilla Finding the Right Job in Real Estate

18

Experts 5 Tips to Get You Sold!

20

How to D.I.Y. Building Your Own Custom Lamp Is Easier than You Think!

22

Curb Appeal Raising Your Home Value With a Stroke of a Brush

25

Who Ya Gonna Call?

26

Classifieds

28

Closing Guam Association of Realtors® How Does The Realtors® Code Of Ethics Affect Everyday Real Estate Practices?

|Publisher| |Business Sales Manager| Jay-R S. Dominguez

|Display Advertising| Darrell T. Pereda Doris Pangelinan John Mendiola Emily Untalan

|Traffic/Circulation Manager| Josie Redmond

|Production Manager|

Message from the President By Elizabeth C. Duenas e-pro®, CRS®, CIAS®, REALTOR® Associate Broker RE/MAX Diamond Realty

H

Hafa Adai!

This month we will be attending the National Association of Realtors Mid Year Policy Meeting in Washington D.C. Two Representatives from the Guam Association of REALTORS® will be representing Guam - Chris Felix, National Director, and myself, Liz Duenas as the State President. At these meetings we can get an update on what Congress is doing regarding taxes and real estate issues. We will also be attending the very first REALTOR® Rally to "Protect the American Dream" at the Washington Monument. REALTORS® attending are making a statement about fighting for home ownership and real estate investment. While in Washington D.C. We will be making a courtesy visit to Guam's Congresswoman Madeline Bordallo who is a strong advocate for REALTOR® Issues and Home ownership. GAR Board on the Road... We started taking our GAR Board on the road to meet with the respective REALTOR® Brokerages providing updated information on our Programs for the year. Our Committee Chairs and their members have been working very hard on different projects. Our visits also focus on exchanging information and getting feedback from the individual GAR members.

Mark S. Burke

|Graphics & Layout| Mark S. Burke Edwin E. Valencia

|Editorial Contributors| Faye Varias Creative Services Elizabeth Duenas W. Nicholas Captain Peggy Araullo Llagas Deniece Menez Mark S. Burke Arlene Taitague Taitingfong Ryan De Guzman

This month of May, our RPAC Committee (Realtor Political Action Committee) will be conducting an RPAC fundraiser event with the theme “Cinco De Mayo”. The RPAC funds go to the National Association of REALTORS® and are utilized to push REALTOR® issues in Congress. These issues involve home ownership, real estate taxes, tax credits to buyers, the continued preservation of mortgage interest deduction, etc. As our RPAC Committee emphasizes - "If You Believe in Homeownership - Believe in RPAC!" Si Yu'os Ma’ase...

Elizabeth "Liz" C. Duenas, REALTOR®, CRS, CIAS, e-PRO, 2012 President, Guam Association of REALTORS®

Cover Photo: Mark S. Burke CasaGuam is Published by:

GUAM ASSOCIATION OF REALTORS®

The Voice for Real Estate on Guam Office: (671) 477-4271 • Fax: (671) 477-4275

CasaGuam Advertising Disclaimer All 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 published herein, 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. CasaGuam Magazine 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 written consent of the publisher is prohibited. We reserve the right to edit or refuse any ad and to reprint any photo for promotional use.

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By Nick Captain

Market Repor t

2011 Year in Review Market Activity Update and Trends; Lender Activity in 2011; Prevailing Market Conditions in Historical Context

I

t’s off. It’s on. It’s 50 percent. No, it’s 100 percent. No, now its just 33 percent. It’s now. It’s never. “It” (aka the Guam Military Build Up) is the $10 billion question (or is it only a mere $5 billion?) and “it” is dominating Guam’s real estate market decision making. This past year certainly reflected increasing uncertainty (we’re fairly certain about that). By late 2011, the opaque outlook and elevated risk substantially slowed activity in Guam’s decidedly undecided real estate market. By year end, the outlook for some of the most grandiose build-up related developments, looked grim.

Although local real estate sales activity fizzled by year end, annual 2011 islandwide transaction volume equalized 2010 figures. Sales in 2011 were boosted by $39.5 million combined by the former Okura and Sherwood hotel transactions. According to the latest release from the Captain Real Estate Group; aggregate 2011 islandwide sales volume increased by less than one percent from 2010, to $307.1 million. In the residential sector, the overall sales pace slowed to its slowest rate in nearly a decade, with only 542 single family dwelling (“SFD”) sales in 2011, down 8 percent from 2010 and down 30 percent from the 2007 peak. However, the annual median price of a house on Guam last year increased by over 15 percent to a record high $245,000, or about five times the median household income level. Guam “one percenters” fueled 4 CasaGuam May 2012

a recovery in the high-end residential sector with 35 sales of houses priced above $500,000 in 2011, up over 50 percent from 2010. The condominium sector reflected another slowdown in sales activity, with an anemic 57 units islandwide closing in 2011, at a combined price of $12.9 million. The annual median price of a condominium in 2011 declined slightly to $135,000.

Local real estate market conditions have transitioned toward relatively low, stabilized sales activity, tighter lending guidelines and reduced liquidity due to the on-going reassessment of risk associated with the new look ex-Futenma Guam military build-up. The build-up, now apparently downsized to 4,700 Marines and an unknown number of dependents, was originally proposed at a $10± billion cost with completion, along with 18,000 new residents, by 2014. Market sentiment regarding the build-up downsizing by up to 70 percent varies, but the shock of a massive scale back in expectations remains reverberating among local and foreign investors. As downsizing news spread by late 2011, real estate sales in the 4th quarter tanked to pre-build-up 2004 levels of around $50 million. Many recent investments designed to capitalize on the build-up, especially worker housing and industrial property, have suffered from weak demand. Other failed projects such as the four abandoned hospital cliffline towers and the

abandoned Tumon box now appear even less likely to find badly needed white knights. Additional external market demand shifts during 2011 emanated from: the repatriation of Japanese yen following the tragic March 2011 Fukushima triple disasters, historically low interest rates, European liquidity uncertainty, alternate investment opportunities and other demand side externalities. Although the shock of reduced build-up expectations is likely to dominate near term activity, investor confidence in the long-term remains positive due to the eventual military expansion which, even if the downsized completion is pushed back a few years, would still vastly improve fundamental market conditions. From the beginning to the end of 2011, Guam’s recent real estate market might best be summed up by those Grateful Dead lyrics, “Sometimes the lights all shinin’ on me, other times I can barely see”. Opaque. Uncertainty. Risk. Will President Obama calm Guam real estate investors on February 13? Stay tuned … Market Activity Update and Trends

The $307.1 million in sales volume in 2011 was equivalent to late 2005/early 2006 figures, but more than double the underwhelming 2003 total. Last year’s sales total reflected nearly 25 percent growth compared to 2009 sales. Guam real estate lending activity in 2011 reflected a 12 percent


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Market Repor t drop in transactions, and a 3 percent decline in volume, to $374.4 million. Market stability in 2011 was highlighted by Guam’s residential sector. Single family home sales reflected $141.3 million in 2011, down a smidge from the $141.7 million recorded in 2010. The condominium sector reflected $31.4 million in 2011, off slightly from the $32.2 million reflected in 2010. During 2011, the median price of a single family house hit a record high $245,000, up 15 percent from 2010 and nearly double the 2004 level. The increasing median price in recent years is substantially attributable to the change in product mix, which includes an increasing number of new (more expensive) houses compared with prior years. The flat residential dollar sales in 2011 occured along with shrinkage of 8 percent in the number of houses sold, which reflected 542 units in 2011. Unit sales volume peaked during 2006 to 2008 with over 700 houses sold annually. The 2011 unit sales volume reflected the slowest pace in a decade. High end SFD sales (above $500,000) increased over 50 percent in 2011 with 35 transactions, as wealthy individuals returned to the market. In the condominium sector, the median price decreased slightly to $135,000 in 2011, while the number of transactions declined nearly 10 percent, to 167 units. Condominium sales volume (in dollars) in 2011 was down by 3 percent to $31.4 million. The high end condominium sector stabilized with 20 transactions priced over $350,000, slightly less than 2010 activity.

Guam’s real estate market reflected explosive growth and significant price appreciation between 2004 and early 2008. Improved mid-2000s market conditions resulted from an end to recessionary economic conditions, followed by the foreign investment and speculation associated with what was previously widely reported as a $15± billion military expansion. By mid-2011, a series of negative political events and the triple disasters in Japan resulted in widespread concern that the build-up could be indefinitely delayed or altered considerably. Lending Activity in 2011 Bank of Hawaii and Citibank earned our “Comeback Lenders of the Year” award in 2011, increasing real estate lending by 70 and 86 percent, respectively, according to Captain Real Estate Group statistics. Real estate loans by these banks were still down by 30 percent compared with 2008. Bank of Hawaii, Citibank and Bank of Guam were the only lenders reflecting real estate loan growth in 2011. Bank of Hawaii’s lending growth returned the bank to a more normalized #3 market share position. In 2011, First Hawaiian Bank retained its status as Guam’s dominant real estate lender with 20 percent market share, at $76.4 million, down 8 percent from 2010. Bank of Guam continued to close the gap on First Hawaiian Bank in 2011 with real estate loans totaling $73.6 million, only four percent less than First Hawaiian Bank. The sharpest drop in lending occurred at Coast 360, down by almost 30 percent from $50 million in 2010 to just $35 million in 2011. Newly appointed CEO Dick Northey and his team are well positioned to capitalize on opportunities and increase market share for Coast 360 in the near future. Prevailing Market Conditions in Historical Context

Notable Transactions - Notable sales in 2011 included the former Okura and Sherwood hotel transactions, which reflected a combined $39.5 million sale price. Other 2011 notable sales include the largest land deal of the year, a $17.6 million Tumon beachfront site acquired by a Taiwan-based investor. Industrial sales last year were highlighted by the $2.0+ million sales of the Tamuning Industrial Park and Proline warehouse complexes. Luxury residential sales included the bulk, 8-unit sale of unsold Tasi 17 condominium units at a price of $4.1 million. Other notable sales during 2011 included Route 3 land sold at $3.0± million and Young’s Plaza commercial complex at $3.0± million.

Issues negatively impacting build-up projects included the Futenma base relocation opposition in Okinawa, massive federal expenditure cut-backs, increased construction cost estimates and other factors. The Guam military build-up process, roughly $600 million of which is already underway, is expected to dominate local economic and real estate market conditions during this next decade. Recent cyclical real estate market conditions peaked in 2007 and 2008. Along with global financial market fallout starting in late 2008, Guam real estate transaction activity (aggregate dollar sales) contracted sharply. Since mid-2009, transaction activity has fluctuated at prior cyclical low (pre-2004) levels, although price declines in most market sectors have been relatively limited. Price movement has varied by sector with some highly leveraged and build-up related speculation purchases reflecting the greatest declines. By early 2012, the combined negative impacts associated with the March 2011 triple disasters in Japan, as well as the subsequent, massive downsizing of military build-up plans, resulted in further contraction in real estate sales volume, liquidity and demand. Most recently, investor caution is widespread due to the growing frustration associated with the military build-up, global economic risks and an increase in alternate investment options. It is widely expected that real estate demand will continue to remain relatively weak in the near term, with substantial mid to long term growth possible if downsized and 4protracted military build-up activity significantly impacts economic and population growth by 2016-2018. CasaGuam.com 5


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Feature

You’ve hit the snooze button on your alarm for the umpteenth time and struggle to drag yourself to work. As you stare a computer screen trying to get your day started, you wonder, is this really all there is? Then thoughts of your last visit with your friends in California or flying to Europe easily from the east coast pop to mind, and you wonder, “Maybe I should leave Guam and move somewhere else.” Jobs pay better, and some say there are more opportunities. But do those benefits outweigh the costs? 8 CasaGuam May 2012


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Feature

The Other Side of the Fence Is the grass really greener elsewhere? By Faye Varias

In this eye-opening article in CNN’s Money Magazine, Donna Rosato explains the real cost of relocating. She says, now that real estate values are tanking in many areas of the country (and mortgage rates are rising everywhere), it's more important than ever to run the numbers before you move to a new city. If you'd be selling into a weak real estate market, your new salary had better be pretty darn sweet. The average cost of shipping your goods, making house-hunting trips and renting temporary digs totals a punishing $17,060, says a 2007 survey by Worldwide ERC, an industry group that tracks relocation trends. Even if you get a job before you move, most small companies don't routinely cover these costs, and nearly a third of medium-size and large companies don't either. Shipping your stuff to your new home can cost more than $10,000 on average. Relocating is sort of like buying a plane ticket to Paris: The price varies depending on when you go. May through September is peak season, so if you can depart earlier or later, many movers will charge you 5 percent to 10 percent less. The same is true if you're willing to move in the middle of the month rather than at the beginning or end, when most moves are scheduled. Better Homes & Gardens reports that every year, 16 million American families move, nudged by a new job, family ties, or the lure of a better lifestyle. But if you move to an area with higher living costs, you could end up with a lower standard of living -- even if you're making more money. On the other hand, a lower-cost location can help you live rich -even if you aren't. How Much Will Your Lifestyle Cost There? You need details to get a fairly accurate cost picture. The local newspaper is a great source; consider subscribing to your new town's newspaper for a month or two so you can check out grocery promotions, car ads, housing and employment classified ads, and news. Other tips: Contact at least three real estate or rental agents. Ask them to do some legwork on homes and schools for you. Call the local library. Ask them for names of consumer shopping guides and real estate publications. Call everyone you know in that area -- even friends of friends. Hunt for information so you can get a good idea of the true cost of living your current lifestyle in a new place. As you uncover cost-of-living information about the location you're considering, put those figures into a worksheet. A worksheet will help you figure the income you'll need in the new location, and it will help you answer the should-I-stay-or-should-I-go question. The cost of housing is one of the easiest yet most complex parts of the relocation puzzle. Easy, because home-price comparisons abound on the Internet, in local newspapers and via real estate agents. Complex, because to find a comparable home, you must take in many factors besides the size of the lot or the number of bedrooms. To find out what a home like yours would cost in a new location, quiz personal contacts and real estate agents (or both -- the more the better) about school districts, local

parks and recreation, the crime rate, the proximity of stores, services, and places of worship and the age, education, and occupations of the neighbors. Ask about "hidden" homeowning costs, such as recreation fees, trash collection, and community services. Finally, check out the costs of homeowners insurance and the mortgage itself -- both of which tend to vary by region. Try to get year-round sample bills for the kind of home you're considering. Some people pay plenty for cable TV, others rely on satellite dishes, and still others live so far out in the country that they pay long-distance fees to get on the Internet and have their own pumps and septic tanks instead of community water service. If you're moving to an area that gets dark early, has lots of swimming pools, or is very hot all summer, you can expect higher utility bills. But don't dismiss a high-tax environment. Those taxes are paying for something, and if you're picking up better schools, convenient swimming pools, good libraries, trash collection, and more, the benefits may outweigh the cost. Saving on taxes could lead to higher expenses in other categories. There are huge regional differences in insurance rates, and for several reasons: Insurance companies and state regulations may be different, and some areas -- such as those prone to flooding or packed with expensive homes -- are more expensive to insure than others. The more populated your area, the higher your auto insurance costs will be. In the nation's big cities, the cost of train fares, parking, and bus tokens can pull hundreds of dollars out of your monthly budget. Gasoline prices can vary widely from one place to the next. While gas is on the pricier side in Guam, your average drive time is less than 10 minutes. And if you're moving into an expensive part of the country, remember that everyone there charges what it takes to afford their own lives. So you can expect your new mechanic to charge more than your old one did for the same oil change. Lifestyle differences can affect your food budget, too. If you're moving to an area with many high-priced restaurants and an active nightlife, you might be tempted to spend more on eating out and less on home cooking than you would in your current home. How do you and your family spend your free time, and what will it cost to pursue those interests in a new location? Some communities have inexpensive youth sports leagues, swimming pools, skating rinks, and more, but in other areas those facilities are more limited. You might have to join an expensive club just to get tee time or a reliably-available tennis court. Will a move take you far away from dear friends and family? If you envision keeping in touch to a great extent -- frequent phone calls, flying back to spend vacations with loved ones -- be sure to allow for the additional costs. Just remember, these are very general figures that won't take your specific housing situation or special needs into account. Sources: CNN, Money Market, Better Homes & Gardens

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On The Cover

Villa Kanton Tasi Amazing Panoramic Views Luxury beachfront living like no other on Guam. An expansive infinity pool lanai greets you. Be enthralled by a pool that just seems to stretch all the way out to the Marianas Trench and beyond. Personally coded entry to the elevator foyer allows access to the inner sanctum. Elevator opens out to your very own condo foyer. Sweeping ocean view from Two Lovers' Point all the way south to Oka Point - and all the way to curve of the earth's horizon. A wide wrap-around balcony overlooks Tumon Bay. State-of-the-art appliances in the WOW! kitchen. The fourth room has been converted to a tv room.

10 CasaGuam May 2012


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Our Environment

A Brighter Solution By Angela Rosario

As scientists continually strive for technology that allows us to simplify and maximize our existence, families are tasked with the burden of finding alternatives to living an effective and efficient life without bursting their budgets. Food, clothing, shelter, and energy are all necessities in the art of survival, but only the latter is ever evolving. From incandescent lighting to compact fluorescents, companies have been searching for more energy efficient and environmentally-friendly lighting substitutes for their homes and businesses. Attempts have been made, but rarely achieved in respects to truly energy efficient products, until now. After years of perfecting the science, it had been discovered that light emitting diodes (LED), which were commonly used in remote controls and computers, were able to produce an equivalent luminosity, if not exceed, of that of its predecessors. Unlike compact fluorescent light bulbs and incandescent lighting, LED lights solely employ the movements of electrons in order to produce its brightness, thus eliminating the need for a filament and harmful mercury contents. Because of this, LED lights not only use less energy, but emit less heat than that of regular light bulbs and spring lamps. Less energy used means more money in your pockets. 12 CasaGuam May 2012

LED lights not only use less energy, but emit less heat... Less energy used means more money in your pockets.

GRESCO, a locally owned company, has geared all its efforts into reducing the island of Guam, and the greater region of the Marianas' and Micronesia's carbon footprint though providing and producing environmentally conscious products and services including used oil recycling, wastewater, LPG, and lighting . Through their determined efforts to work with companies regionally and throughout the world, GRESCO is able to provide their customers with the best and highest quality products possible in manufacturing their products. Through distributing and supplying LED lights to our local homes and businesses, GRESCO continues to educate our community on the importance of working together to achieve a greener Guam.

Bulb Type

Bulb Life

Cost/Bulb

Incadescent

2,500 hours

$4.90

LED

30,000 hours

$28.35

Cost of Bulbs over 30,000 Hours

$58.80 $28.35


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PHARE 2012

In Our Community

Highlights from this Year’s Pacific Hotel & Restaurant Expo he Guam Hotel & Restaurant Association together with the Guam Visitors Bureau hosted the Pacific Hotel & Restaurant Exposition (PHARE 2012) which kicked off on April 12th & 13th at the Hyatt Regency Guam. The two-day expo, opened to industry professionals featured over 50 exhibitors ranging from food & beverage wholesalers, hotel & restaurant suppliers, telecommunications / publication companies, variety of private businesses including the Why Local Exhibit with delicious food and beverage samplings, product displays and information and exhibitor arts & crafts. This year’s expanded event featured vendors promoting and showcasing the latest and innovative products and services that catered to the tourism industry focusing on the commitment to buy local. Making a difference to help grow the local economy while supporting Guam’s largest industry – tourism. Other highlights included various industry seminars, the Professional Chef ’s Competition and the Guamafterdark.com Bartending Competition.

T

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In Our Community

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Profile

An Early Start

By Deniece Menez

Finding the Right Job in Real Estate

T

Ramon Espenilla REALTOR® for RE/MAX Diamond Realty

Age: Fiancé: Children: Hobbies: Motto:

24 Irish Villanueva Raniah Faith (age 3) Spending time with his daughter and fiancé, playing soccer and football “The important thing is not being afraid to take a chance. Remember, the greatest failure is to not try. Once you find something you love to do, be the best at doing it.” – Debbi Fields

I like Casa Guam. I’ve gotten a handful of calls and prospective buyers [after] my January ad [in the magaz ine

16 CasaGuam May 2012

].

After a series of job experiences varying from telecommunications to construction, Ramon Espenilla concluded that he still hadn’t found the right job for him. Espenilla wanted a career that he could build his and his family’s future on, and something that he would enjoy doing for the rest of his life. Once he dove into the real estate industry, he knew he found just the job. He recalls several experiences as he was growing up that inaugurated his interest in real estate. “I was exposed to this field at a young age… during my teenage years, my soccer coach, Kun Ho Rhee, an established broker on the island, would take me and a few other teammates along to showings [that] he had before or after practices,” Espenilla recounts. He adds that venturing into business-type projects with some friends set the tone for his decision to become a real estate agent. He then took the necessary steps and is today a licensed realtor for RE/MAX Diamond Realty. Being a novice in real estate, Espenilla shares that the main challenge he has faced has been remaining financially stable. “The start-up costs were overwhelming for me,” the young realtor explained. “I’ve been told by my colleagues that the beginning of the journey will not be the ‘glory days,’ but will involve some [difficulty],” he adds. He has proven this to be true in his first eight months of being a realtor. However, Espenilla is encouraged by the prospect of success that lies ahead for him. “I know that in the long-run, as I continue to work hard and dedicate myself to this career, my investments will return,” he explained. It is this vision that motivates him to give his best. Espenilla describes his first sale as his most memorable real estate moment so far. “It was with an all-cash buyer, closed in seven days. It was fun,” he recalls. He advises those looking into real estate this way: “Ask yourself if you’re ready. Whether you’d like to become a realtor or a buyer, it involves a lot of time and resources. Purchasing a home is one of the largest investments one can make, and it is important to be equipped financially to make the commitment.” He is very enthusiastic about helping his customers and expresses that his “doors are always open,” and that he’s glad to be of help to customers even outside his business hours. Espenilla aims at growing more successful and established as a realtor in the future, or to become a “super-agent,” as he terms it.


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From The Experts

5 TIPS TO GET YOU SOLD! By Ryan De Guzman

D

o you want to sell your home in today’s local real estate market? Well, this article is just for those that do. Even in a challenging and unpredictable economy there are some fundamentals you should know about selling your home that really haven’t changed. These methods have been tried and tested over the years with tremendous success. Here are 5 tips to get you sold, but not necessarily in this order and not at all exhaustive. Number 1. Find yourself an exceptional Broker/Agent, unless you have one already in mind. You need a Real Estate professional you can truly trust, one who is motivated to sell your home, one with adequate knowledge of the local market and one with hands on experience. Availability is also important too to answer your questions, concerns and one who can really embrace your objective as their very own. The Guam Association of Realtors is 414 (2011) members strong. Members of GAR are also members of NAR, the National Association of Realtors, who are 1,009,940 (2011) members strong and North Americas' largest professional trade organization. REALTORS® adhere to a strict Code of Ethics and must also complete a reasonable amount of continuing education credits/annual training, in order to receive, renew and/or maintain their business license. This ensures they are always up to date on all the latest trends, rules and regulations to sufficiently satisfy your real estate needs. You can visit: www.guamrealtors.com for a complete listing of local Brokers and Agents today. Before putting your home on the market for sale it is extremely important that you, Number 2. Determine a reasonable market value. Some Sellers like to shoot straight for the stars and right fully so. Every Seller I know wants to get the best price, as soon as possible and with the least amount of inconvenience. Realistically speaking you can only get as much as what a Buyer is willing to pay in cash or what the Bank is willing to lend in order to make the purchase possible. Get an Appraisal done by a local licensed professional, if you can, to determine the property value. Appraisers 18 CasaGuam May 2012

Assoc. Broker/ Realtor®

charge about $585 or less for a private report on a single family dwelling home with less than 2,000 square feet of living area and can be completed within 10 working days (Robert & Robert and Pacific Island Appraisals). Another feasible option is to have your Broker Agent give you a CMA (Comparative Marketing Analysis) or BPO (Brokers Price Opinion) using comparables directly found on the MLS (Multiple Listing Service). Starting with a reasonable and realistic list price allows your home the best opportunity of selling as opposed to other homes that are overpriced and end up sitting on the market for far too long. Number 3. List your home on the MLS (Multiple Listing Service). Much of the islands’ available inventory along with detailed information can be found in one data base right on the MLS. Due to advanced technology more and more Buyers are surfing and shopping the Internet and going online for goods. The search ranges from common household goods, to designer clothing, to automobiles and yes even to real estate investment, raw land and homes. Convenience seems to be the key because we live in a busy society where every second counts; time is a luxury we cannot afford to waste. List your property on the Multiple Listing Service. There are over 400 Guam Realtors® who have access to this dynamic resource, not to mention the hundreds of prospective Buyers already out there surfing and navigating through our websites right now! Number 4. Get maximum exposure by advertising your home in CASA Guam, the best local real estate magazine available; use newspapers, multi-media, social networking sites, decorate your home, stage it and do an Open House, distribute flyers, exercise word of mouth, and arguably the best technique of all is simply put up a yard sign. If it’s for sale people need to know about it. Some methods may work more effectively than others, depending on your situation, but using multiple methods or a combination thereof simultaneously can only get you sold sooner than later. Number 5. Lastly, offer incentives. Help them with credit back at the close of escrow if

you can. Get creative. Most Buyers do not have enough money saved up to handle the closing costs (Down payment, appraisal, escrow fee, title insurance, etc,), even if they can manage the monthly mortgage payments and qualify for a 100% financing program, RD (Rural Development) or VA (Veterans Administration). They may get pre-qualified or better, pre-approved for a decent amount, but always with strict terms and conditions attached, excellent credit, stated income enough to make the mortgage payments and money in the bank to actually close the transaction. Provide the basic appliances or offer a credit back so your Buyer will not have to spend again on top of the closing costs. These out of pocket expenses add up quick, not including utility transfers, cable, telephone, Internet connections and trash collection, every penny counts. Utilize these 5 helpful tips and get your home sold. I guarantee they work. They have for me: 1) Select a REALTOR® to help you! 2) Determine the fair market value before you list your home for sale. 3) Get it on MLS asap. <None> 4) Maximum Exposure through all advertising avenues, at the very least put up a yard sign. 5) Offer Buyer incentive to help out with out of pocket expenses because it can actually close the deal. Please e-mail: rjdguzman@hotmail.com or call 797-2721 for a free consultation!


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Home Finance

The Mortgage Loan Officer’s Role In The Loan Process. By Calvin Hernandez o help borrowers better understand the mortgage process, I wanted to identify the key role and responsibilities of the mortgage loan officer. The S.A.F.E. mortgage licensing act, effective 12/30/11, defines the mortgage loan originator (MLO), as an individual who takes a residential mortgage loan application and offers or negotiates terms of a residential mortgage loan for compensation or gain. The S.A.F.E. act requires MLOs to be registered with the National Mortgage Licensing System and Registry (NMLS). This registration provides increased accountability for mortgage loan originators and supports anti-fraud measures. The primary task of an MLO is to educate the borrowers about the home-buying process. MLOs are the liaison between the borrower and all role players involved with the mortgage loan. As the MLO interviews each applicant, he or she should be able to explain the different loan programs and find a program that best meets the borrower’s needs. One important responsibility of an MLO is to help the borrower properly complete the Universal Residential Loan Application (Fannie Mae Form 1003). The Form 1003 has been designed to collect all the necessary information to evaluate the borrower’s ability to pay back the loan. An incomplete application or submitting an application containing inaccurate information could lead to processing delays and even denial. Once the application has been properly completed, the loan officer must obtain all the costs associated with the loan, including bank fees, escrow fees, title and recording charges, credit checks, lien checks, appraisal fees, hazard insurance, and notary, etc. The MLO must provide a standard Good Faith Estimate (GFE) to the borrowers within three days from the application date. The GFE was designed to inform borrowers upfront about all the costs associated with the loan and allow borrowers to shop and compare. After the borrowers have had a chance to review the GFE, they can authorize the bank to start the loan process by signing a letter of intent to proceed. This triggers the MLO to gather documentation to evidence and support the information listed on the application (Form 1003). Without the borrower’s signed consent, the MLO should not “require” borrowers to provide any documentation or collect any application fees upfront other than the cost of a credit report. When collecting documentation, the MLO must educate borrowers and explain the importance of each document being collected. They should also explain the reason why a specific document is required. The typical documentation may include, but is not limited to, proof of income or paystubs, complete tax returns, bank statements, retirement statements, and maps to the property, etc. The MLO must also explain how the documents should be submitted and, most importantly, instill the urgency to submit the documents as soon as possible. Delays usually occur if borrowers stretch out the time to submit the documents or provide wrong, incomplete, illegible, cut, or perforated copies. While the borrower is providing the required documentation, the MLO will be coordinating with other key parties, such as the loan processor. The loan processor is responsible for ordering supporting documents required by the loan, which include the appraisal report, preliminary title report, court lien checks and. if needed, any verification such as employment, rent, or mortgage. All documents are reviewed and scrutinized for accuracy by a loan underwriter. Once the loan is approved by the underwriter, the closing documents are prepared and the MLO can assist with the loan closing. At the time of closing all documents will be explained to the borrower prior to signing. The role of the MLO does not include approving the loan; nor should the MLO discourage any applicant from applying. It is not their responsibility to render a credit decision - good or bad. In my next article, I will discuss whose responsibility it is to render the credit decision, namely the loan underwriter.

T

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H o w To D . I . Y.

Building Your Own Custom Lamp is Easier than You Think!

By Mark S. Burke

ere’s a real DIY Project that even beginners can do! Let’s make our own custom lamp! Allow me to let you in on a little secret… Those fancy lamps that you spend so much money on—are easy to build. The “light” part of the lamp is the business end, everything else is decoration! Do you have a piece of drift wood that is interesting? Make it a lamp! How about a sea shell that you really like? Seashells make great lamps! Do you have a piece of lava rock that is interestingly shaped, an old flowerpot that would look cool as a lamp? I have a 40mm anti-aircraft gun shell casing that I found while diving. I made it into a lamp. Lamps have been made out of plastic cups, clothes hangers and old CDs. I’ve seen lamps made from a saxophone and a puffer fish! I have even seen lamps made out of sugar! Big or small, elaborate or simple, the only thing you need to make a lamp is a light bulb, (or if you really want to get fancy you can use LEDs, but that requres a little more work), a socket and some lamp wire. The rest is up to your imagination! You can make a lamp out of just about anything!

H

Saxophone Lamp

Puffer Fish Lamp

Here’s what you need: A Bamboo Tiki Torch (for this project) Lamp Cord Lamp Socket Light bulb (you can use any type of bulb you want, for this project I’m using the flicker bulb) Lamp pipe (steel nipples) and couplings Locknuts & Washers Wire Cutters/Strippers Screwdriver (Common or Phillips will work) Pliers

Sugar Cube Lamp

Remember the iconic leg lamp from the movie “A Christmas Story”? Like I said, you can make a lamp out of just about anything! Make it as simple or elaborate as you like. Go ahead, indulge your inner “arteest!” Who knows? Your lamp might become a movie star! A few weeks ago, my family came over for a barbecue. We thought it would be fun to break out the tiki torches and light them for some ambiance. After getting them out and setting them up we discovered that they were out of lamp oil. It occured to me as I was getting ready to do this article, that it might be fun to convert a tiki torch into a lamp. I wanted to keep the “torch” motif, so I went to the local hardware store to see if they had flicker lights. A flicker light simulates a flickering candle flame, perfect for our tiki torch, we still get the flame without the fire, or the mess! This is a perfect project to learn the basics of creating a lamp and just how easy it is. 20 CasaGuam May 2012

Movie Lamp

Let’s talk a little about the lamp pipe (steel nipples), couplings and locknuts with washers. We will use these to convert the old lamp oil can to hold the light socket that will replace the oil and wick. Lamp pipe can be purchased in varying lengths from half an inch to six or more feet long. It provides the support for your socket and, if you are using a softer material for your lamp (you can make lamps out of paper!), it will be the structure of your lamp. Usually you will have at least a short length of lamp pipe in any lamp you make to hold the socket. If you are repairing a lamp, you will probably not need to purchase these as they will already be in the lamp. I purchased all the lamp parts, (not including the tiki torch), for under 25 dollars at my local hardware store. If you are just repairing a broken lampsocket or cord it’s even cheaper, a new socket or new lamp wire are around seven dollars each. Just think! For about seven bucks I can repair that hundred and fifty dollar designer lamp instead of throwing it away or taking it to a shop and paying to have it repaired!


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H o w To D . I . Y. Building the Lamp 1. Start by removing the lamp oil

and the wick from the oil can.

7. Using a coupling, add another section of lamp pipe to the bottom of your lamp assembly.

12. Reassemble the

socket and pull the slack wire through the bottom of the pipe.

2. Gather your lamp parts 3. Punch a hole in 13. Put in the flicker bulb

the bottom of the can to fit the lamp pipe through.

4. Place a washer, lock washer and bolt on a

section of lamp pipe far enough down the pipe to allow the top of the pipe to extend about half an inch from the top of the can cover.

8. Insert this assembly into the can and push the pipe through the bottom.

it onto the top of the lamp pipe. Using a screwdriver, tighten the set screw to secure the socket base to the lamp pipe.

6. Using a pair of pliers, tighten the bolt on the

bottom of the cover to secure the pipe and socket assembly in the cover

14. Plug it in, hit the switch

and you’re done! 9. Now secure the entire

assembly with a washer, lockwasher and bolt on the bottom of the can 10. Pull the lamp cord through the pipe and hole in the bottom of the socket base. Now we are ready to finish assembling the lamp.

5. Remove the base of the lamp socket and screw

and place the entire assembly into the tiki torch body, pull the cable through the openings in the bamboo.

11. If needed, strip about half an inch of insulation from the end of the wire. Connect the wires to the lamp socket. Remember to connect the positive wire to the brass screw and the neutral (or negative) wire to the silver screw. (The neutral wire on lamp cord will have a ridge or white stripe in the insulation, the positive wire will be smooth). If you bought lamp cord with an attached plug then you’re finished, if not, you will need to add the plug. On a two prong plug, (most household lamps are only two wire), the wide blade on the plug is the neutral side, connect the wire with ribbed insulation to the wide blade of the plug.

Congratulations! You’ve just built a custom lamp. It really is quite easy! How easy, you ask? It took me longer to take the pictures for this article than to put this entire project together. Actual assembly of this lamp took me about ten minutes from start to finish! The “hardest” part was putting a hole in the bottom of the can. (I had to find a nail). I only tell you this is because I really want to impress on you how easy it is to do many do-ityourself projects. We really do make a lot of things harder than necessary. Don’t be afraid to stretch yourself ! Using the same steps that we followed here, you can create beautiful, custom lamps that reflect your personality, for a lot less than you think. All it takes is imagination. It is always rewarding when you discover new skills you didn’t know you had! CasaGuam.com 21


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Curb Appeal

Raising Your Home Value With a Stroke of a Brush

By Arlene Taitague Taitingfong

In these economic times, there are many ways to raise value on your home. The simplest way is as simple as a stroke of a brush. Yes. I’m talking about painting. In this issue, I will be covering only painting the interior of the home. If you have looked at as many magazines, articles, and homes as much as I have, you would have learned to not judge a book by its cover, or in this case . . . . . . . .color. True story. When I first walked into my (currently renting, but planning to buy) condominium unit, my mouth dropped at the visage of aged carpet, dated kitchen and the sprinkler system protruding from the walls. Luckily, my good friend and home décor consultant, told me to look beyond what I saw. Quite frankly, I saw dollar signs left and right and a quick mental wish list of what I’d like to do - if money were no object. But alas, with our household’s humble means, there was a budget to adhere to. I realized a fresh coat of paint would give the unit an inexpensive makeover and a boost to the aura of the unit, making it into a home. The current state of the walls are screaming “color me”! There are traces of attempts of color testing (or brush cleaning) on the dining room walls. Although the color was not bad, it was not painted correctly – and the color was in the one room only. The rest of the unit shows dire need of a fresh coat of paint. Its currently waaay-off-base white throughout the rest of the unit. My place is in dire need of a some nice brush strokes. (heavy sigh) So here is where the adventure begins. What kind of paint to go with? There are some things to consider when contemplating what type of paint to go with? Semi-gloss or gloss? Flat or latex? One coat paint or textured paint? The wide variety of interior paints can be perplexing-- but they exist for a reason. There are differences between the many paints so it is important to know about each kind. Although interior paints are available for every possible surface, there is no such thing as an “all-surface” paint. (Oh gosh darn)! The wrong paint can damage a surface and often not adhere well. It is crucial to know in advance what goes where and when. Fortunately, modern paint technology has taken a lot of the risk out of choosing the proper paint. Formulas for so-called "latex paints" have been improved to withstand dirt, moisture, and daily wear and tear, so these paints are no longer reserved exclusively for low-traffic areas. They are as washable and durable as the old oil based paints, so you no longer have to think in terms of latex paints for walls and oil based enamels for woodwork, windows, and doors. Still, an important factor in interior paint selection -- aside from personal color preference -- is gloss. Regardless of the type of coating you choose, the gloss of the one you buy will affect both its appearance and its durability. High-gloss paints are the most durable because they contain more resin than either semi gloss or flat paints. Resin is an ingredient that hardens as the paint dries. The more resin, the harder the surface. 22 CasaGuam May 2012

Consequently, for kitchens, bathrooms, utility rooms, doors, windows, and trim, high-gloss paints are ideal. Semi gloss interior paints, with less resin and a reduced surface shine, are slightly less wearresistant but still suitable for most woodwork. Finally, flat paints are the coatings of choice for most interior walls and ceilings because they provide an attractive, low-glare finish for surfaces that take little abuse and require only infrequent washings.

(Tip: Not all paints advertised as "one-coat" really are. Read the warranty.)For more information about paints, colors and materials

needed for your project, check out our local paint and home improvement stores. There are informed staff that can assist you and they will even give you paint swatches to help you with your find the colors of your theme. No question is ever ridiculous either Always ask if you are not sure which paint to use. Have fun with the colors and have fun with the project. If you feel overwhelmed with the whole painting issue, I suggest you take one room. A small one. Try painting the guest bathroom or the dining room. It’s kind of hard to make a mistake when you paint. Besides, you can always paint over it!


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W h o Ya G o n n a C a l l ?

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Classifieds Commercial Rentals Dededo 106 East Sta. Barbara, Dededo 4bed/1 ba corner house, fenced, and gated. Centrally located close to church, school and malls. Asking $1,200/month. Call MYRNA @ 488-0144

Ordot-Chalan Pago Commercial space for rent. Approx 2155 sq ft. Ideal for laundromat, bakeshop, video store or retail business. Asking $2,500/mo. Please call ANGIE @ 727-2228 Commercial space for rent. Approx 850 sq ft., video store or retail business. Asking $850/mo. Please call ANGIE @ 727-2228

Tumon Fountain Plaza for Rent: Finally prime commercial space in the much desired Fountain Plaza. Own your very own business amongst the likes of many long time established busibesses already patroning this plaza. Where can you go wrong, San Vitores road frontage with ample space, there are no lossers and YOU are the winner. Asking $2,700/mo. Please call DANIEL @ 687-5422

Dededo Houses - 3bd/2ba, carport, a/c, appliances, $1300/mo & Paradise Estates home 3bd/2ba, 2 car garage, appliances, central a/c, secured entry, gated comm, 482-6252/777-3728 MLS 12-1255 3Bd/2Bd/1Bd located near schools/church/store and front of park Semi-Furn. Sec.8 & Military OK. Pls. leave message at 727-6456 Great spacious house located near Paradise Estates. 5bd/3bth. Section 8 okay with full security deposit. Call 646-9870/1 Dededo Villa Rosario - Spacious 3BR/2BA W/D, Pool, Security, Mailbox $1,650.00 3Bd/2Bd/1Bd located near schools/church/store and front of park Semi-Furn. Sec.8 & Military OK. Pls. leave message at 632-1200

Mangilao Nice house on a cul-de-sac street in Latte Hts. 4 bedrooms, 2 baths with all ceramic tiles and split a/c units per room. Newer kitchen counters and appliances. Fenced back yard. Has always been leased to military personnel for their tour on Guam. Asking $2,100 / month. Call DEANNA @ 688-2855

Residential Rentals Tamuning

Tumon Penthouse for Lease: A Rare Penthouse, Oceanview unit is now available. This large 2 bedroom 2.5 bath Condo was upgraded and is in like new condition. Security, Full Back-up Generator, Pool, 2 parking all go along with your desire for the ''good life'' while on Guam. Water included. You CAN have the dream. Asking $3,800/month. Call DEANNA @ 688-2855 MLS 10-744 San Vitores Terrace Condo: 3bd/2ba, 3rd floor unit with oceanview, upgraded unit with new carpets, pool, security and basic cable TV. $1800. Call Coral Sea Realty 649-6088

3 bedroom / 2 ba house, close to schools, stores, beach and church. Asking $1250.00. Call 649-8265 or 888-7447

Asan

Office. Lots of nearby schools, markets and churches. Income Property with fully occupied and screened Tenants. Property located in a corner lot with fence. This is a wise choice of investment property. For sale by owner. Call now and lv msg at 727-6456. 3bd/2ba townhouse, 2 story, central a/c, typhoon shutters, excellent cond. $195K BUY SELL or RENT www.GUAMLISTINGS.com 482-6252/777-3728 MLS 11-4372

Yigo Beautiful fully fenced, 3bd/ 3full ba, high Perez Acres: 4 bedroom, 2 bath with pool & playground. Corner unit. Asking $1,900/month. Call SANDY @ 687-6006

pitched ceiling, 2car gar, ctrl loc, Dededo-

d l o S

Uhang St/Bello Rd, Minutes away from airport, business establishments & more, Only 2yrs old, landscaped yard, fruit trees,

Perez Acres: 3 bedroom / 1.5 ba townhouse with extra room great for family room or office, gated and secured community, pool, mail delivery. Asking $1900 . Call CORAL SEA REALTY 649-6088

shutters, 2,421sq mtr lot, 1,440sq ft living space, 12x20sq ft open back porch, lots of extras! Developing neighborhood w/newly built houses. A must see! Lots of potential!! $340,000.00 Pls call 788-3531 & lv msg.

Residential Sales Barrigada

Inarajan

Barrigada Large 4BR/2Ba 1800sqft. House Only 243,000 637-7165 / 688-0887 / 689-7900

2 bedroom / 2 bath on a living area of 800 sf and 5,526 Âą 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

Agat Condo units - 3bd/1ba, renovated, $1100/mo & 3bd/2ba excellent cond. $1700/mo BUY SELL or RENT www.GUAMLISTINGS.com 482-6252/777-3728 MLS 12-509 & 12-523

DEDEDO Multi-Family House located in front of Dededo Park, Library and Julyor's

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

Mangilao

Dededo 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 Renovated - All ceramic tiles. New a/c's. Asking: $1,900.00/mo. Call FRANK @ 479-4663

Popular Pia Marine 2 bedroom 2 bath units available for Month to Month Rentals. Utilities/Furnitures included with cleaning services. $2400.00. Call Nick @ 689-2939.

Barrigada

Tecio Tumon Villa: Nice two bedroom two bath condo located in Tumon. Condo is just a walking distance to the beach, stores, restaurants and nightlife. Asking $2,100/month. Call VIC @483-7518

2b/1b, near Subway with water $830/mo. Please call 637-7165 / 688-0887 / 689-3333

Tumon 2bd / 2 ba + Den. excellent condition. Asking $1200. Please call 637-7165 / 688-0887 / 689-3333 / 477-7042

26 CasaGuam May 2012

Latte Heights House with 3 br / 2 ba, ideal FOR SALE BY OWNER Beautiful fully fenced, 3bd/ 3full ba, high pitched ceiling, 2car gar, central location, minutes away from airport, business establishments & more. Only 2yrs old, landscaped yard, fruit trees, shutters, 2,421sq mtr lot, very large concrete back porch great for an outdoor kitchen, etc. Lots of extras! Developing neighborhood w/newly built homes. A MUST SEE! Lots of potential!! $338,000.00 Pls call 797-1525 TODAY!

d l o S

location w/ carport, fully fenced, gated, spacious yard w/ patio. Asking $200K. Please call ANGIE @ 727-2228

Mongmong-Toto-Maite Exceptional 3bd and 3.5 ba home Enjoy the view, separate refrigeration and stove for the person who enjoys cooking, the pool and the great central location. Asking $630k Call JUDY @482-7775


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Ordot-Chalan Pago

Yona

Quiet, Private, and centrally located 4 bedroom 3 bath house on a 1/2 acre lot. this would be great if you enjoy your privacy and appreciate being close to shopping malls, grocery stores, and schools. Asking $315,000. Call JOYLYN @ 488-5069 for a showing. MLS 10-2077.

Winward Hill Estates: Lovely 4 bedrooms / 2.5 ba with beautifully upgraded kitchen and bathrooms, nicely appointed living & dining spaces & bedrooms. Large, well maintained yard with lots of gorgeous plants, flowers, trees and a cozy verandah & spacious tool shop in the middle of it all! Come see this beauty in Yona. Asking $289,000. Call MARILOU @ 988-5600

Apusento Gardens Condo : Great price with seller financing. Just like you pay monthly rental, without bank fees. Downpayment is required. Asking $105k. Call JAMES @482-0498

Tamuning Condo units - 3bd/1ba, renovated, $125K & Agana Beach Condo, 3bd/3ba, beachfront, bank foreclosed, appliances, split a/c units, $500K 482-6252/777-3728 MLS 12-1565 & 12-1621 Private and secluded Tamuning 3bed/1ba house with partial ocean and city view. Recently painted and upgraded with ceramic tiles, french windows and accordion typhoon shutters. Fenced and gated, and comes with 4 split A/Cs'. Asking only for $229K. Call MYRNA @ 488-0144 TAMUNING Executive 2 Storey Spacious House for Sale by Owner. Great location beside Cost-U-Less Tamuning and GPO. Great lifestyle and community environment with 5 bd/3ba corner lot; nice sized bd on 1st and 2nd flr; luxurious master suite w/ jacuzzi spa tub; quality granite staircases; hardwood railings; crown molding all over the house with open spacious kitchen and stainless steel appliances. Please call owner/lv msg at 727-6456.

Tumon Nice 2 and 3 bedroom condo with panoramic ocean view and city view and waliking distance from the shops and hotels. Please call George 483-9111 Century 21 CR.

Baza Gardens 3bd./2ba 1,600 s.f .Extended with game room. Asking $175,000.00. Call FRANK @ 479-4663 Baza Gardens - $169,000 - Best Deal! 3 BR 2BA corner lot home in great condition - call for details...Asking $169,000. Call LIZ @ 687-0911

Land For Sale Chalan Pago Chalan Pago LAND FOR SALE Great Investments with Lots of Potentials Near Front Road Zone C More than an Acre Size Lv Msge 632-1200

Dededo Dededo Land 18585Âą Very Nice $85,000 637-7165 / 688-0887 / 689-7900. Dededo Land with 830Âą sm with R-1 Zoned and minutes to NCS with paved access. Asking $45,000. Call YUMIKO @ 688-7791

Harmon Property is view lot next to last lot below Airport exit light on Pangelinan Blas St. in Harmon/Tamuning. Access paved w/sidewalks, water & sewer. Power up to adjacent lot below. Asking $490,000. call 637-7165 / 688-0887 / 689-3333 / 477-7042

Piti Turner Rd. - Channel 10 - (Nimitz Hill) Piti. 151,508 sq. meters of unobstructed ocean views Asking: $2,300,000.00 Call FRANK @ 479-4663

Tamuning R-2 Lot Call 646-7137 CasaGuam.com 27


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Closing

Message from the Executive Officer By Peggy Araullo Llagas

How Does The Realtors® Code Of Ethics Affect Everyday Real Estate Practices?

I

If a REALTOR® represents you, whether you are buying or selling a home, you can count on that REALTOR® to: 1. Be honest with all parties in the transaction – not just with you, as his or her client, but also with the other real estate practitioner and his or her clients. For example, if REALTORS® represent a buyer with a spotty credit history, they can’t be dishonest with sellers about this fact. At the same time, REALTORS® can help their buyer clients collect and assemble information, such as credit reports and audited tax returns, to demonstrate that the buyer has addressed the problem and improved their situation. 2. Put your interests ahead of his or her own, at all times. A REALTOR® makes every effort to understand the housing needs of his or her client, thoroughly researches available inventory, and shares all relevant information with the buyer so that he or she can make an informed decision. This service is provided regardless of the compensation available. 3. Disclose all pertinent facts regarding the property and the transaction to both buyer and seller. If a REALTOR® believes information provided by a seller is questionable, the REALTOR® is obligated to investigate. REALTORS® should recommend that buyers consult their own experts, such as home inspectors, to address concerns. For example, if a home seller asks his or her REALTOR® to conceal the fact that the roof leaks, the REALTOR® cannot comply; if the seller insists, the REALTOR® should end the business relationship with that seller. 4. Be truthful in all communications with the public. When REALTORS® distribute newsletters, create Web sites, or place advertisements, they must be careful not to represent other real estate professionals’ work product as their own. If recently sold or listed properties in the community are publicized, it must be clear whether the REALTOR® was actually involved in the transaction, or whether that data came from the local multiple listing service or other source. This ensures that the public understands the REALTOR®’s experience and can make an informed decision when choosing real estate representation. - NATIONAL ASSOCIATION OF REALTORS® Ask if your agent is a REALTOR®, a member of the Guam Association of REALTORS®. Visit our website at www.guamrealtors.com for a complete list of the REALTORS®.

The Guam Association of REALTORS® shall remain your leading advocate for promoting and protecting homeownership on Guam. Ask if your agent is a REALTOR®. Visit our websites at www.guamrealtors.com and www.guamhousingprograms.com. 28 CasaGuam May 2012


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We speak Russian, Farsi, Chinese, Korean, Japanese, Filipino, and Chamorro facebook.com/Century21CommonwealthRealty

RENTALS

University Gardens, Mangilao - 600sf - $600 - 12-1674

153 MongMong-Toto-Maite - 1,410sf $2,200 - 12-1279

Mangilao $145K 3Br/2Ba #12-1296

Tamuning $82K 2Br/1Ba #12-1645

Tumon $618K 4Br/3.5Ba #12-1681

Yigo $245K 4Br/3Ba #12-1355

Mangilao $250K 3Br/2Ba #12-1658

Tamuning $190K 2Br/2Ba #11-535

Tamuning $595K 5Br/3Ba #11-2080

Tumon $230K 1Br/1Ba #12-704

Tumon $260K 2Br/2Ba #12-917

Dededo $265K 3Br/3Ba #12-178

Tamuning $145K 3Br/2Ba #12-1114

Tumon $118,995 2Br/1Ba #12-180

Tumon $187K 3Br/2Ba #11-3797

Yigo $185K 3Br/1.5Ba #11-51

Yigo $219,800 4Br/2Ba #12-918

Agana Heights $205K 3Br/2Ba #12-1164

Agat $140K 2Br/1Ba #11-4490

Dededo $235K 3Br/2.5Ba #11-3852

Dededo $296K 3Br/2Ba #11-1851

Dededo $550K 4Br/3Ba #12-972

Mangilao $245K 3Br/2.5Ba #12-804

Tamuning $675K 3Br/3Ba #12-243

Tamuning $750K 4Br/3.5Ba #11-1889

Yigo $250K 3Br/2Ba #11-4151

Piti $3,280,000 #06-605

Piti $140K #11-768

Dededo $300K 2,000sm #12-802

Pomika Apartments, Tamuning - 940sf - $1,000 - 12-1297

Alupang Cove Condo, Tamuning - 958sf - $2,450 - 12-1342

Agana Beach Condo, Tamuning - 1,904sf - $2,850 - 12-1675

Tumon View Condo, Tumon - 750sf - $1,000 - 12-1341

San Vitores Terrace, Tumon - 1,245sf - $1,300 - 12-1393

Pia Resort Condo, Tumon - 900sf - $1,300 - 12-1540

Perez Acres Townhome, Yigo - 1,700sf - $2,200 - 12-1354

Homes & Condos

Ypao Gardens Condo, Tamuning - 850sf - $1,400 - 12-1352

304K Ignacio Santos Ct., Dededo - 1,400sf - $1,900 - 12-1389

131 Panao St., Dededo - 1,200sf - $2,100 - 12-1464

Pacific Golden Villa, Dededo - 3,000sf - $2,200 - 12-1535

352 Lemonchina St., Dededo - 2,000sf - $2,450 - 12-1496

Talo Verdes, Tamuning - 2,341sf - $4,200 - 12-1378

146-A Chn Rosan Hongyee, Yigo - 1,147sf - $1,400 - 12-1206

112 Chn Kafo St., Yigo - 1,550sf - $2,400 - 12-1343

118 Chn Sudac Windward Hills, Yona - 2,000sf - $1,200 - 12-1414

San Vitores Terrace, Tumon - 900sf - $2,300 - 12-1699

132 Chn Rosan Hongyee, Yigo - 1,300sf - $1,300 - 12-1206

Land

128 Herman De Leon St., Sinajana - 2,000sf - $1,500 - 12-943

190 Chn Pa PangPang, Dededo - 1,290sf - $1,800 - 12-1195

255-A Lada Ave., Dededo - 1,000sf - $1,600 - 12-1193

Yigo $69K 1,858sm #12-1654


CasaGuamMay12:Layout 2

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CasaGuam Volume 5 Issue 5  

May 2012 Vol. 5 Issue 5 - Market Report: 2011 Year in Review, Feature: The Other Side of the Fence, On the Cover: Villa Kanton Tasi, Our Env...

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