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CONTENTS
Message From GAR
Departments 4
Message from the President
Market Snapshot The Market for Land and House Lots
8
10
Feature Realtor.com® Survey: Men, Women Dig on Digs Differently
April 2014 • Vol. 7 • No. 04
12
Real Estate Spotlight Alien Property Ownership on Guam
P.O. Box 24881 Barrigada, GU 96921 Tel: (671) 472-3495 | Fax: (671) 472-3498 email: office@yellowpagesink.com
|Publisher| 14
Profile Weiwei Chen Ou Good Service Pays Off
16
From the Experts New Mortgage Information Tool Launched by CFPB
|Business Sales Manager| Jay-R S. Dominguez
|Display Advertising| Evelyn Trinidad
|Traffic/Circulation Manager| Carol Aperocho
|Production Manager| 20
How to D.I.Y. DIY Chalkboard Eggs
Mark S. Burke
|Graphics & Layout| Mark S. Burke
22
Curb Appeal Edwin E. Valencia
Bring the Indoors Outside
|Editorial Contributors| Faye Varias Creative Services
25
Who Ya Gonna Call?
Anthony R. Godwin Rachel Stults
26
Classifieds
Arlene Taitague Taitingfong Kim Anderson Young
28
Louisa M. Wessling 2014 President Guam Association of REALTORS®
Hafa Adai! We are well into the first quarter of 2014 and the new year looks to be off to a good start. While there will still be challenges, we also have some exciting opportunities to look forward to. Many people will ask us "How is the real estate market?" The Multiple Listing Service (MLS) reported that in 2013 there were 274 confirmed single family home sales reported to the service. The average price was $250,115; the median price coming in at $213,000. This is a slight drop from 2012 which reported average sale price of $268,000 and median price of $230,000. The overall market when averaged continues to lean towards being a Buyers market. However, that is not true for certain facets of the market. New construction single family home sales is alive and moving! Land with available infrastructure for development of small single family home development continues to be actively sought by Buyer/investors. The existing single family home market is being challenged by the new construction market. In order for Sellers of existing homes to compete with new construction home and be able to realize the highest market price/value for their home they must make the investment of renovating and upgrading their existing home in order to compete. The condominium and commercial real estate market activity continue to lag behind the single home market. Interest rates at the moment remain attractive and still below 5% per annum....but there is talk that it may be on the rise in the upcoming months. The Guam Association of REALTORS will be coming to the villages this year to greet, meet and get to know our communities. Be on the lookout for announcements through your village mayor's office. The second Workforce Housing Expo is also in the planning and is tentatively scheduled for sometime during the last quarter of the year. The event will be announced through the media later in the year. Thanks for reading this column!
Closing Guam Association of REALTORS® Honesty. Integrity. Commitment.
GUAM ASSOCIATION OF REALTORS® Cover Photo: Mark S. Burke CasaGuam is Published by:
The Voice for Real Estate on Guam Suite 236A Julale Center 424 West O'Brien Drive, Hagatna, Guam 96910 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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Market Repor t
The Market for Land and House Lots
Are you looking to build a home? If you don’t already have a plot of land upon which to build your dream home, then you are in luck. There are over 100 listings of land for sale on Guam at any given time. Before you call to start looking at properties, it would be a good idea to create a wish list of features you would like in your property. Most buyers start their wish list with location and price, so we will focus on these two items. Other items to consider would be lot size, view and neighborhood.
understand the costs associated with preparing the property for the construction of your home. Is power and water available at or near the property…or will you need to have these services brought in? Are soil conditions adequate to support the house you want to build? How does the area fare during heavy rains and typhoons? How will other properties or uses in the neighborhood affect the value of your home or lifestyle? Are there any survey or title issues with the property?
Location. Consider your needs and the needs of your family such as travel time from school, work, shopping and leisure activities.
As you consider the right property to construct your home, you may consider eliminating various lots that don’t meet your requirements. Another item that will affect the lot that you ultimately purchase will be financing. If you are looking to pay cash…great…then you skip the financing portion of this article.
Price. What will you pay for the property? As you consider what to offer on a purchase of a property, it is important to also 4 CasaGuam April 2014
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However, most lots are sold with some type of financing. While there are many financing options available, we will focus on the following: First, seller financing with a contract of sale. Basically the seller will hold the title (ownership) to the property until all of the agreed payments are made. Once the agreed payments are made, then a deed is recorded transferring ownership of the property from the seller to you.
Mr. Scott also mentioned the bank has a Buy-And-Hold program. With this program, the bank would finance the purchase of the property for up to 20 years. The down payment requirement is 35% of the purchase price. There is a $250.00 non refundable application fee and, again, there are no loan origination fees. As of this writing, the interest rate was a LOW 4.99% (6.112% Annual Percentage Rate-APR). Example: For a $50,000 land purchase under this program, the down payment would be $17,500.00; amount financed would be $32,500.00 and the payment would be just $232.65 monthly.
Next, we consider two types of financing with a lender. Under both financing options, the seller is paid in full and title to the property, subject to a recorded mortgage, transfers to you.
All financing programs mentioned above are “subject to” credit approval and full disclosure of terms and conditions.
For this purpose, I spoke with Lynn Scott from BankPacific about two of their land purchase programs.
Looking to purchase a lot for your new home construction? Give me a call, I’ll be happy to help you make the right moves.
With the Buy-And-Build program, the bank would finance the purchase of the property for a period of 12 months with “interest only” payments. The bank requires a 20% down payment. There is a $250.00 non-refundable application fee, however, there are no loan origination fees. As of this writing, the interest rate was a LOW 4.99% (6.112% Annual Percentage Rate-APR). As an example: For a $50,000 land purchase under this program, the down payment would be $10,000..00; amount financed would be $40,000.00 and the “interest only” payment would be just $166.33 monthly.
Web links: Take a look at ALL land/lots listed for sale on Guam: http://www.guamhome.com/all-land-for-sale-in-Guam Take a look at ALL properties listed for sale on Guam: http://www.guamhome.com Contact me: Anthony Godwin at anthony@guamhome.com or 671-688-8198
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Feature
Realtor.com® Survey: Men, Women Dig on Digs Differently
So, you’ve got it bad for “the one” – you know, the one that keeps you awake at night fantasizing about the day when you can be together. 8 CasaGuam April 2014
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Feature
Wait a second. We aren’t talking about that one – we’re referring to a different kind of love affair: a “home crush.” If you’ve found yourself swooning over a house you just can’t get out of your head, you’re not alone.
Of the women included in the survey: • 41 percent revealed that their home crush is out of their price range • 59 percent reported that their home crush is in their price range
In a new realtor.com® survey, 69 percent of the 1,000 people who responded said they have had a ‘home crush’ – a home they liked so much that they were drawn back to looking at it more than once online or in person.
Of the men included in the survey:
“We conducted the survey to see how searching for ‘the one’ in real estate correlates to searching for ‘the one’ in love, and we found that they are very similar,” said Barbara O’Connor, chief marketing officer at realtor.com®. “Buyers have to evaluate crushes based on turn-ons and turn-offs and whether the home is in their league, so they often find themselves spending a good amount of time checking out their crush online.” But what do you do when you’re pining for that perfect dwelling? Just as in romance, men and women respond to their home crushes quite differently, the survey found. Women were more likely than men to have a crush on a home that was out of their league financially, while men moved from one home crush to another more frequently than women. Men and women tend to fall for the same things when it comes to houses, though. Of those surveyed, 54 percent of women and 46 percent of men said they tended to fall in love with outdoor living spaces. Women also swooned for open floor plans and appliances and fixtures, while men’s hearts raced over a good garage and curb appeal. “Whether it’s love or real estate, having a short list of deal breakers is critical for finding ‘the one’ to help buyers weed through the crushes to find the home of their dreams,” said Leslie Piper, consumer housing specialist at realtor.com®. Majority of all surveyed consumers report having a home crush: • 69 percent of those surveyed said they have had a house crush • 31 percent said they have not had a crush on a house Women are more likely to cultivate crushes on homes that are out of their league financially:
• 30 percent indicated their home crush is out of their price range • 70 percent shared that their home crush is in their price range How often men and women establish a new crush on a home: Of the women included in the survey: • 29 percent indicated they cultivate a new house crush weekly • 26 percent believe they develop a new house crush monthly • 17 percent reported that they develop a new crush on a house quarterly Of the men included in the survey: • 36 percent indicated they find a new house crush weekly • 19 percent shared that they establish a new house crush monthly • 15 percent revealed that they develop a new crush on a house quarterly Top attributes that make consumers fall in real estate love: Of the women included in the survey: • 54 percent reported that outdoor living spaces make them fall in real estate love • 42 percent shared open floor plans • 29 percent swoon for curb appeal • 29 percent revealed updated appliances and fixtures Of the men included in the survey: • 46 percent indicated outdoor living spaces make them fall in real estate love • 40 percentage swoon for garages • 35 percent reported curb appeal • 30 percent revealed open floor plans CasaGuam.com 9
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On The Cover
Yigo Gem
C
heck out this newly custom built, gorgeous 2 story single family house in Yigo. High quality workmanship, excellent finishing, open spacious living area. Elegant lighting fixtures, luxury jacuzzi, custom kitchen and much more. Did I mention it is also fully fence and gated situated in a very friendly neighborhood? This is truly the dream house you have been looking for!
MLS#13-4045 - $498,000 988-1883 E.Cotton/P.B. 10 CasaGuam April 2014
karen1282001@yahoo.com
Karen Pan REALTOR速
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Real Estate Spotlight
Alien Property Ownership on Guam
By Kim Anderson Young
itle 21 of the Guam Code Annotated (GCA) § 1203 Who May Own Property, deals with Alien Property Ownership. It states: “Any person, except an alien, may take, hold, and dispose of real property within Guam, and any person, whether an alien or not, may take, hold, and dispose of personal property within Guam.”
T
The law continues in GCA § 1204. Which states in part “...The prohibition shall not apply to ownership or lease of single family, residential, apartment, or condominium type housing (one unit per alien family) and the land on which such housing is located …” But what if a non-US citizen acquires property through inheritance? The law allows for the alien to hold title to the property for a period of five years after which it must be sold to a person or company qualified to hold title. So how would a person who is not a citizen of the United States of American purchase property on Guam? Since GCA § 1204 allows an alien to legally acquire a single residential property, there is no problem buying a house or condominium. It only gets tricky when an alien wishes to buy commercial property, or a second home, or even agricultural land. A common practice is for the non-US citizen to establish a Guam corporation, which corporation may purchase an unlimited amount of properties. Since the corporation is a Guam corporation, paying Guam taxes, it is considered a legal entity to hold title. Interestingly enough, while Guam law restricts the rights of aliens to hold title to real property, the US Constitution does not allow for these restrictions. I do not know of any case in which our Attorney General has challenged an aliens right to own real estate, and if it were to occur, it would be very interesting to see if the law was thrown out for being unconstitutional. Guam’s ethnic diversity is one of our biggest attractions and foreign investment is key to the continued development of our economy. In keeping with our Constitutionally granted equal rights under the law, I encourage our local lawmakers to repeal the alien property act and welcome our neighbors and investors with open arms. 12 CasaGuam April 2014
About the Author Kim Anderson Young, president of Security Title, has over 30 years of experience in the real estate industry. Contact her at kim@securitytitle.net or 647.8100.
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Profile
Good Service Pays Off By Faye Varias
O
Originally from China, Weiwei Chen Ou took her real estate experience overseas when she came to join the industry in Guam and received her broker license in 2013. But it wasn’t without its challenges. “I had one off island client from states, husband works in Navy, and they were looking for a single family house located in central location and their budget was between $200K-$300K,” she said. She said she showed them several houses but the conditions and the neighborhoods weren’t what they were looking for. But after nearly 20 properties visited, they finally found one they liked. “They liked this community very much,” adding that the security, secure neighborhood and overall safety of his family were met. It was a lot of time spent on one client, but hard work pays off. “The commission is important to be the source of income for all agents, but I feel it is secondary to trust and respect between me and my customers, to the sale and the closing,” she says. “When a client that I sold a house to comes back and asks me to sell it for them, or when customers refer their families, friends, or co-workers to me, it shows me that my service is affirmed by my clients and customers.” She also has some goals in the coming years. “I really enjoy helping people in buying, selling and leasing real estate. She said she enjoys the work as well and she thanks God that she is able to do what she loves and make money at the same time. Ou said she would like to thank her first customer, Mr. Chen, from Taiwan. This was her most memorable sale because he has referred many customers and all because she showed him good customer service. Now they’ve become good friends.
Weiwei Chen Ou ASSOCIATE BROKER, REALTOR® CENTURY 21 COMMONWEALTH REALTY
Education:
Chinese Literature, Hangzhou University, China Certification in Account Clerk, GCC, Guam
Family:
Yangming Ou, Husband
Motto:
“Your Satisfaction is My Service Purpose”
As far as what makes a good agent, she has this to say.
1. Very responsible and considerate; they really think for the clients and customers from every possible aspect throughout the purchase.
“
2. Act efficiently, respond quickly and in a timely manner, from the very first appointment all the way to closing. 3. The most important is the post-closing follow up and care for clients. This is really warmhearted from a client’s perspective, and not many agents can do a good job in this regard.
I believe Casa Guam is an excellent source of real estate news as it keeps the public up to date with Guam’s housing market and acts as a guide that readers can go to for real estate advice.
14 CasaGuam April 2014
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“A great agent is not only knowledgeable and informative based in the field but more importantly because of the following personal traits:
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From the Experts
New Mortgage Information Tool Launched by CFPB uccessful problem solving often depends on the tools you’re given: The more information you have, the better equipped you are to identify and solve an issue. That’s the idea behind the federal Consumer Financial Protection Bureau’s new mortgage data tool and the new data-reporting requirements it plans to propose this year.
S
The CFPB has announced the release of its new online tool for exploring Home Mortgage Disclosure Act data, which allows people to sift through data available on home loans made in their communities and compare it to other locations. The tool is meant to help people gain a better understanding of consumers’ access to credit in their areas, CFPB officials said.
HMDA database contains only limited information about the rates charged by lenders,” Cordray said. “These and other gaps in what we know hinder everyone?s ability to determine whether borrowers have access to affordable loans or to identify potential targeting of borrowers for riskier or higher-priced loans.” As the process of determining new data-reporting requirements begins, the public already has access to the data comparison tool through the CFPB’s website, where anyone can see mortgage trends within certain loan products, metropolitan areas and racial groups. The tool would eventually be enhanced with whatever additional data the CFPB requires from lenders. Source: Credit.com
The Dodd-Frank Act tasked the CFPB with expanding the data collected through the HMDA, which the bureau is tackling this year. The bureau will seek public feedback on what should be included in the data and plans to determine the new data points that mortgage lenders must report, though the requirements won’t need to be met in 2014. “We are considering asking financial institutions to include more underwriting and pricing information, such as an applicant?s debt-to-income ratio, the interest rate, the total origination charges, and the total discount points of the loan,” said CFPB Director Richard Cordray. “This will help regulators spot troublesome trends in mortgage markets around the country.” The CFPB is also interested in requiring lenders to report the borrower’s age and credit score, the term of the loan and whether the loan meets the qualified mortgage standard. The bureau is putting together a Small Business Review Panel, in which it will engage and seek feedback from community banks, credit unions and other entities that may be affected by the new rules. In explaining the coming changes, Cordray referenced some signs of the recent housing crisis that may have been easier to address if more comprehensive data had been available. He mentioned the surge in home equity lending leading up to the bust, and the increased use of teaser interest rates ? the initial rate on an adjustable-rate mortgage that would reset to a much higher rate after the initial period. “Teaser interest rates proliferated before the crisis, but the current 16 CasaGuam April 2014
By Kevin Wright
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H o w To D . I . Y.
DIY Chalkboard Eggs By Marissa Borja aster is all about the chocolate eggs, the Easter Bunny, Easter egg hunts and the traditionally painted egg displays.
E
So, if you’re looking to give your Easter décor a contemporary twist, here’s a chalkboard and golden eggs idea that the whole family can get involved in. Draw your own chalkboard designs and when they get a bit boring, simply wipe the slate clean and start again. Plascon shares a step-by-step guide to help you get your Easter project going. What You Need Twelve eggs 500ml tin of school board paint Gold spray paint Chalk in various colors 25mm paint brush Step 1 Using school board paint, brush the top halves of the eggs so that there’s no more shell coming through, then set them aside and allow to dry for an hour. Decide whether you’re blowing the eggs out or boiling them. This will depend on how long you want your display to last, as eggs will only keep out of the fridge for just over a week. Step 2 Once blown out or boiled, put half a dozen eggs in an egg box and place the box on sheets of newspaper. Using your spray paint, coat the top half of the eggs gold. Remember to keep the can at least 30cm away from your project in order to create an even coat. Spray lightly and evenly, repeating the process several times so that the paint doesn’t run. Remember to spray in a wellventilated area and to protect any exposed surfaces with newspaper. Before putting together you're display, make sure that both the gold and black eggs are completely dry. From there, put the eggs aside and let them dry for 10 minutes. Step 3 Place the remaining six eggs in another egg box and dip the tip of the paintbrush into your school board paint. Paint the top halves of the eggs so that there’s no more shell coming through then set them aside and allow to dry for an hour. 20 CasaGuam April 2014
Step 4 Going back to the gold eggs, turn them over and then spray the second half of the eggs until there is an even layer. Once again, set them aside and allow them to dry. Step 5 Use your eggs in a beautiful table setting display, as the centre piece or entryway exhibit. To finish off the chalkboard eggs, first make sure that they are completely dry. Once you’re sure of this, carefully turn them over in the box then, just as you did in step 3, finish painting the top of the eggs and then allow them to dry for another hour. Step 6 Once you can see the chalkboard eggs are fairly dry, touch up any areas you feel need more paint and then allow the eggs to dry overnight. Step 7 Once dry, take your coloured chalk and draw whatever patterns you’d like on the eggs. Paint tip If you don’t have much time, use a small hairdryer to quicken the drying process. Décor tip For a fun display, spray paint the egg box gold as well and paint the lip of the box in chalkboard paint then write a fun Easter message on the lid. Buy some raffia and a few small Easter chicks or rabbits and create a traditional Easter display with a twist. Use your eggs in a beautiful table setting display, as the centre piece or entryway exhibit. *Please note the eggs may not be safe for consumption following painting. Source: www.property24.com
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Curb Appeal
Bring the Indoors Outside By Arlene Taitague Taitingfong sometime ago) or if the contents of the boxes have not seen the light of day these past months (or years), it must not have important enough to put away or store properly. STEP TWO: Prepare the area Do what you need to do to have the area cleared and clean. This is a good opportunity to water-blast the patio or carport. STEP THREE: Design your space
Spring is in the air and many of us have already started getting in gear for Spring-cleaning. We have looked at our living quarters and are trying to decide what stays and what goes. Some of us may have old stuff we have accumulated since last year (or longer) and are trying to decide what to keep and what to discard. We want to de-clutter our homes or start rearranging furniture to give it a new look for Spring!
Be creative when trying to design a plan for your additional outdoor area. The theme doesn’t necessarily have to match the theme or colors of your interior. This is a great opportunity to create an entertainment space or an “alone time” paradise. Recycle old couches with new upholstery or furniture covers. Use materials that can handle the outdoor weather. If you are able to splurge on your budget, invest in new patio furniture with comfort in mind. Toss in some throw pillows with contrasting hues to give your space a splash of color. Make sure you have a nice sized table or even side tables so that you can have a place to put drinks and food. A few citronella candles will be a nice touch also. The candles will keep bugs at bay while providing additional light in the area.
This is a great time to Spring-clean AND transform your outdoor space into additional living area. This article will help you transform your carport or a portion of your unused driveway or your patch of concrete slab (aka the patio) into a comfortable and relaxing location where you can sit and watch the stars at night, or read a book during the day, or just “chill” in an area that is cozy. STEP ONE: De-clutter and clean the area If your patio, driveway, or carport is currently cluttered or is being used as a storage area or a “holding” pad for bags of Good Will treasures - file it, sell it, give it to a charity, or just throw it away already! I heard someone say that if it has been in storage or in boxes for 6 months or more – GET RID OF IT! If you still have boxes that haven’t been unpacked from your last move (which was 22 CasaGuam April 2014
If you want to give depth to your space or identify the perimeter of the outdoor area, adding a door is a creative way to do so. This owner used an old oriental door making it a good example of recycling old pieces. It looks like the owners turned their carport or side yard into a simple garden setting.
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Curb Appeal
This patio area was given a makeover with vibrant colors and patio furniture. The table was added, providing a nice outdoor eating area. Designing your outdoor area can be a fun adventure! There really are no “do’s and don’ts” as to what to use to make this YOUR space. I love this last picture! It embodies all the elements I touched on. The owner decided to expand out past the patio. Notice the little details that make this outdoor space another living area. There is carpet under the canopy, lighting strategically placed in various areas of the yard, potted plants and outdoor décor precisely placed and comfortable seating areas throughout. Give yourself some room – literally! Be creative and get going on bringing the indoors – Outside.
This driveway was used to expand the property owner’s outdoor area using the obsolete driveway as the floor. It offers a comfortable seating area with a variety of flowering plants. This makes for a nice cozy space. STEP FOUR: Other items to consider CANOPY - I’ve seen a few homes that expanded their outdoor area by just putting up a nice canopy. It gives shade in the day and can be placed anywhere in the yard! Canopies are easy to assemble and disassemble in case you need to take it down for any reason. LIGHTING - Lighting your new area is important, especially if you like being outdoors in the evening. Candles are nice, but if you want a well lit area, there are lighting fixtures available for outdoor use. CasaGuam.com 23
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W h o Ya G o n n a C a l l ?
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Classifieds Commercial Rentals
renovated. All ceramic tiles, new cabinets, new split A/C, typhoon shutters & double paned windows. Call Deanna @ 688-2855.
Dededo
Residential Sales
Two 2BD hse. 1 Full Concrete & 1 semi concrete in one lot. $96K. Negotiable.
Barrigada
Call 727-4985.
Large 4BR/2Ba 1800sqft. House Only 248,000 637-7165 / 688-0887 / 689-3333
Tamuning
Dededo
Owner. Growing in a great location beside
Multi-Family House/Good Investment located front of Dededo Mayor’s Office/Park & Library Greath Neighborhood / Gated/ Corner Lot/Serious Buyers Only! FOR SALE BY OWNER. Call/LvMsg 727-6456
Premium Outlet. Great lifestyle and
Sinajana 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
Nice 4bd/2ba home w/ fenced yard. Fully Fenced and pet friendly. All split a/c units and all tile. Fully typhoon shuttered and is equipt with a security system. Call Deanna @ 688-2855.
Ordot-Chalan Pago Tamuning Commercial space for rent. Approx 850 sq ft., video store or retail business. Asking $850/mo. Please call ANGIE @ 727-2228
Residential Rentals Asan Nimitz Hill, 2BD apartment including ocean view. $950/mo. Modern upgraded, all ceramic tiled, typhoon shutters. Call 687-6900
Barrigada 2b/1b, near Subway with water $830/mo. Please call 637-7165 / 688-0887 / 689-3333
Dededo Paradise Estates. 4BD/3BA, Exc. Condition, Fenced. $2,450. Call 637-7165 689-3333/688-0887.
Harmon 3BD/2.5BA Townhouse. Pool. Security. Tennis Court. $1,900/month. Call 637-7165/688-0887/689-7700 Large 4BD/2.5BA. Single home. Pool. Security. Tennis Court. $2,450/month. Call 637-7165/688-0887/689.7700. Harmon Ct. Townhouse. 3BD/2BA. Sec. 8 OK. $1,200/month. Call 637-7165 689-3333/688-0887
MongMong-Toto-Maite Economical studio unit. Completely
26 CasaGuam April 2014
Dai Ichi Condo. 3BD/1BA, Pool, Sec 8 OK, by O/A. $1,250. Call 637-7165/688-0887 Sunrise D Condo. Large 2BD/2BA. Pool. Very nice. 1,000 SqFt. $1,000/month. Call 637-7165/688-0887/689-7700. Tumon 2bd / 2 ba + Den. excellent condition. Asking $1200. Please call 637-7165 / 688-0887 / 689-3333 / 477-7042 2bd/1ba second floor unit. Some furniture included. Stove/oven, refrigerator, washer/dryer. All ceramic tile & renovated bathroom. $1,500/mo. Call Deanna @ 688-2855. San Vitores Terrace Condo-2bd/1ba, 3bd/2ba - walking distance to beach, rest/bars, church. Asking $950 $1800/mo. CSR- PB 649-6088
Tumon Blue Pacific Lattice Condo. 2bd/1ba. Backup generator, securted entry, pool, mailbox, room A/C units, stove/oven, refrigerator. Call Deanna @ 688-2855.
Exec. 2 Story/Very Spacious For Sale by Cost-U-Less Tamuning and Guam
Villa Rosario Condo: 3bd 2ba Excellent Condition, Pool, Tennis Court, Play Ground. Good Location $160,000.00 Call 637-7165/688-0887
Pacific Gardens. 1st Floor. Pool. Security. 1BD/1BA. $47,000. Call 637-7165 689-7700/688-0887/689-3333. For Sale By Owner Summer Palace Estates Located close to Cost-U-Less in Harmon 4Bd/2.5Ba 2100 Sq. Ft. Home located in a secured gated community with swimming pool, tennis court, and playground. New granite countertop and tile floor throughout with typhoon shutters. $440,000.00 Please call 777-0951
granite staircases; red hardwood railings; crown molding all over the house with open spacious kitchen. Dream home and a good investment! Call/LvMsg 727-6456
$320,000 or $1,350 for rent. Call 637-7165/689-7700/689-3333
Tumon Tumon View Condo. 2bd 1ba. Near beach. $110,000. Call 637-7165/688-0887/689-333 Lily Village Tumon Condo. Nice. 3BDM 2BA Fully Renovated. $2,000/mo.
Yigo Executive 2-story house with a great view fully
Ordot-Chalan Pago
Executive 2-story house with a great view, fully fenced and a quiet area. 5bd/3ba w/ 2 huge balconies. SS appliances, wash/dry, 2-car garage. Huge storage shed, a must see, Military OK! $3500/mo. Call Joe @ 483-3333!
corner lot; nice sized bd on 1st and 2nd flr; master suite w/ jacuzzi spa tub; quality
Jonestown. 3bd/2ba, Large Yard. Fenced. Las Palmas Ph3. 3rd Floor. Large 3BD/2.5BA/2Den. Pool. Excellent Condition. $255,000. Call 637-7165 689-3333/688-0887
Yigo Single Home. Excellent Condition. 3BD/2BA. Large yard. Good location. $1,400/month or for sale $200K. Call 637-7165/688-0887/689-7700.
community environment with 5bd/3ba
fenced and a quiet area. 5bd/3ba w/ 2 huge balconies. SS appliances, wash/dry, 2-car
Chalan Pago 2bed 1bath SFD for sale. 1169sq.m lot Asking $119K. Call Karen 988-1883
garage. Huge storage shed, a must see! $425KSale. Call Joe @ 483-3333!
Land for Sale Talofofo Chalan Pago Two homes for sale! House 1: Full concrete, 2 bed, 1 bath House 2: Semi-concrete, 2 bed, 1 bath Asking $94K for both. Call owner at 727-4985
Back of Island Fresh Market. $45,000. Bank Owned. 1,387 +/- sm. Call 637-7165/688-0887/689-3333
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Closing
Message from the Executive Officer
By Peggy Araullo Llagas
Honesty. Intergrity. Commitment. As a homebuyer or seller, that’s what the REALTOR® Code of Ethics means to you. uying or selling a home is never an easy process. Although it’s an exciting experience, it can also be a very stressful one. You need someone you can trust. Someone who you can put your mind at ease because you know they’re going to do the right thing and act in your best interest. Someone who will protect your rights. When you enlist the services of a REALTOR®, you can be confident that you’re being dealt with honestly. Every member of the National and Guam Association of REALTORS® makes a commitment to adhere to a strict Code of Ethics, which is based on professionalism and protection of the public. The actual Code of Ethics itself contains 17 Articles and quite comprehensive. Here is a summary of the key principles, which is referred to as the REALTORS® Pledge of Performance and Service to Clients and Customers.
B
Duties to Clients and Customers Article 1 REALTORS® protect and promote their clients’ interests while treating all parties honestly. Article 2 REALTORS® refrain from exaggeration, mis-representation, or concealment of pertinent facts related to property or transactions. Article 3 REALTORS® cooperate with other real estate professionals to advance their clients’ best interests. Article 4 When buying or selling on their own account or for their families or firms, REALTORS® make their true position or interest known. Article 5 REALTORS® do not provide professional services where they have any present or contemplated interest in property without disclosing that interest to all affected parties. Article 6 REALTORS® disclose any fee or financial benefit they may receive from recommending related real estate products or services. Article 7 REALTORS® receive compensation from only one party, except where they make full disclosure and receive informed consent from their client. Article 8 REALTORS® keep entrusted funds of clients and customers in a separate escrow account. Article 9 REALTORS® make sure that contract details are spelled out in writing and that parties receive copies. 28 CasaGuam April 2014
What Does it Mean for Consumers? How does the Code of Ethics affect everyday real estate practices? 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®For More Information Contact: Peggy Araullo Llagas, Executive Officer Guam Association of REALTORS® Suite 236A Julale Center 424 West O'Brien Drive, Hagatna, Guam 96910 Tel: (671) 477-4271 • Fax: (671) 477-4275 Mobile: (671) 689-4271 • www.guamrealtors.com
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