AUGUST 20, 2018 ISSUE | REJGUAM.COM
PAGE 4
Properties to love
Beachfront fantasy The right stuff Take a load off
PAGE 8
Home grown Fresh off the boat
PAGE 12
The Doctor is in Between the lines
t INDEX PROPERTIES TO LOVE....................................................2 THE RIGHT STUFF...........................................................4 HOME GROWN.................................................................8 THE DOCTOR IS IN.........................................................12 MARKET WATCH............................................................14 NEED TO KNOW.............................................................16
This beachfront property on Agaña Bay holds the potential for dreams of luxury condos or an executive-style boutique hotel Photos courtesy of Today’s Realty
2
PROPERTIES TO LOVE
THE REAL ESTATE JOURNAL
THE SKINNY
TAMUNING, $6.5 MILLION ($506 PER SQUARE METER)
Soft sand encourages relaxing walks along the beach.
The big picture • Beachfront development property fronting Agaña Bay and Governor Carlos Camacho Road (Camp Watkins Road) • Rectangular in shape with level ground • Lot size: 12,836 square feet (~3 acres) Potential • Permitted use for one-family dwellings; duplexes; multi-family dwellings; hotels, private groups and institutions; and bed and breakfasts under the Guam Code Annotated R2 Multiple Dwelling Zone. Recommended for: • Luxury residential development such as beachfront condos • Executive-style boutique hotel for the high-end tourist What’s cool • Just minutes away from downtown Tumon • Directly across from a three-acre park with barbeque area • Conveniently located for proximity to both military bases, Andersen Air Force Base and Naval Base Guam • Nearby Onward Beach Resort, Sheraton Laguna Guam Resort, restaurants and executive ocean view condominiums such as Oka Towers Condominiums, Alupang Cove Condominiums, Agaña Bay Condo and Agaña Beach Condo How to make this your own (quickly) Contact: Yumiko H. Blaisus, Today’s Realty Call: 688-7791 Email: yumiko.blaisus@ guamhome.com
THE REAL ESTATE JOURNAL
PROPERTIES TO LOVE
3
An aerial view of this m ajestic property shows much to be desired.
The calm waters of Agaña Bay create stunning views for potential ocean front rooms.
Photos courtesy of Today’s Realty
4
THE RIGHT STUFF | C HAIRS
THE REAL ESTATE JOURNAL
You may be seated
“Bistro Paris” metal kitchen chair from Furniture Outlet.
Photos by Celia Chavez
THE RIGHT STUFF | C HAIRS
THE REAL ESTATE JOURNAL Playwright Robin Wilson claims that chairs are like sculpture. With that in mind, choosing the perfect chairs for a home is critical, but it doesn’t have to be complicated. Depending on the room in question, there are options incumbent upon preference and style. For the kitchen and dining room — a popular and practical choice is the stool. One benefit is space optimization. The newly opened Furniture–Kathy Style in Agaña boasts a wide range of choices for stools as well as chairs for every room and purpose in the home. A relatively recent trend is the accent chair. There are countless styles and colors, but the main function for this category of chairs is to either add a personalized touch or bring everything together in a room. “Accent chairs can be placed nearly anywhere in the home, especially in bedrooms and living rooms,” said Jasmine Fo, head of marketing at Furniture–Kathy Style. “Grays and blues are particularly popular right now.” There are many materials to choose from as well. Everything from velvet to canvas-like fabrics are readily available. Furniture–Kathy Style offers a wide selection from Violino. One chair in particular that stands out is the power recliner. Slim and sleek, this chair is covered in Italian leather and comes in an array of colors. Prices range as much as styles do, and any budget is sure to be complimented well.
Vioilno overstuffed lounge/ accent chair in Manchester teal from Furniture– Kathy Style
Violino power rocking chair in phoenix marigold from Furniture– Kathy Style 18-FHB-Mortgage_RealEstateJournal_Size6.875"X9".pdf
1
7/18/18
continued on page 8
fhb “Nucleus” by HON with adjustable arms, seat and height and orange seat. Available at M80 Systems Inc.
“Hutton II” gray accent chair in velvet finish from Furniture–Kathy Style.
5
12:47 PM
6
THE RIGHT STUFF | C HAIRS
THE REAL ESTATE JOURNAL
Overstuffed accent chair from Furniture Outlet; perfect for the bedroom
“Hutton II” gray accent chair in velvet finish from Furniture–Kathy Style
“Ceres” by HON with mesh back and green seat. Available at M80 Systems Inc
continued from page 5 In terms of office chairs, M80 Systems Inc. general manager Carlo Leon Guerrero explained that chairs are about personal choice. “Not every chair is created equally. Understand what the chair can do. You want to be able to adjust chairs with consideration of back support, height and seat depth.” He stressed that an office chair is an investment. “Many people spend as much if not more time in their office chairs than their beds. That’s more than enough reason to pay for the quality and comfort when choosing your office chair.” If budget is a point of concern, Furniture Outlet is the place to visit. Located in Tumon and owned by Willy Ma since 2011, Furniture Outlet features a fabulous variety of chairs in many styles. There are a good selection of eclectic pieces as well. Dining, office or lounge chairs are available in a plethora of colors and designs. There are also several different kitchen and dining chairs and stools to choose from. Whether you are trying to add character or a personal touch to your home or office, chairs are a quick way to accomplish that. Have a budget in mind; be aware of the silhouettes, colors and materials that you are looking for; and lastly, don’t be afraid to experiment with colors and styles. p
8
HOME GROWN
THE REAL ESTATE JOURNAL
Let’s make arrangements One way to quickly spruce up your office or home is by adding a fresh floral arrangement to create a vibrant and organic element. “Fresh is best” is a go-to recommendation when it comes to flower arrangements. To maximize the freshness of flowers, cut an inch off the stems before you place the blooms in a vase, use roomtemperature water for hydrating the arrangement, avoid placing the bouquet in direct sunlight or near stoves or other extensive heat sources and always keep flowers hydrated. Tove Estabrook, owner of Tove’s Flowers and Boutique, recommends keeping the home bouquet simple yet elegant. She also suggested incorporating local flowers and plants into your bouquet of choice. Local
plants will last longer and are more tolerant of heat and humidity. Eugene Aflague, co-owner of Black Tie Events and Floral Design, reaffirms local choices for home floral arrangements. “Green is in, and it lasts longer. You don’t necessarily have to include flowers.” If flowers are a must for your bouquet, Aflague suggests heartier flowers such as orchids. He also insists on fresh flowers and plants, because naturally, plants should be alive. Clearly there are numerous options for floral arrangements in the home. The ultimate decision boils down to budget, preference and maintenance, but with local prices ranging from $40 to $200 plus, don’t be afraid to spend a little extra for the arrangement that you will enjoy. p
Hydrangeas and monstera leaves from Black Tie
Arrangement featuring orchids, anthuriums and bird of paradise from Tove’s Flowers and Boutique
Leaves are often placed in the vase for aesthetic and practical purposes, as seen with this purple orchid with master leaves from Black Tie
Photos by Celia Chavez
THE REAL ESTATE JOURNAL
Sunflowers and anthuriums with gold leaves from Tove’s
HOME GROWN
9
These pink lilies from Tove’s keep the arrangement simple but classy
12
THE DOCTOR IS IN
THE REAL ESTATE JOURNAL
Dealing with grout BY CHRISTEN DIMALANTA You notice that the spaces between the tiles on your floor and on your bathroom walls are beginning to brown. Some of the spaces appear cracked or loose. You attempt to scrub the dirty spaces clean with soap and water, but to little or no avail. You may start to think that it is impossible to get them back to their original, perfect condition but what you fail to realize is that you are merely dealing with grout — and the solution to removing that brown color and sealing those cracks is easier than you think. It is important to first understand what grout is in order to learn how to deal with it. Grout is a cement-based mixture with the consistency of a viscous liquid. It is used to fill the spaces between tiles on floors or on walls. Grout typically comes in two formulas: sanded and non-sanded. Sanded grout is more
stable than non-sanded grout due to its composition of sand, which allows it to be used in wider spaces. Thus, non-sanded grout is typically used in tiling with more narrow spaces, including and especially glass and stone tiles. Ryan Joel, sales representative at Home Depot Guam, said that sanded grout is most commonly used in floor tiling, while non-sanded grout is used for said tiling. Many people think that grout is waterproof. On the contrary, grout becomes increasingly porous over time and will begin to absorb liquids. This process eventually leads to staining and is responsible for the brown color you may begin to see. Nonie Amar, professional engineer and chief administrator of construction service company NL Amar & Associates, Inc., said that many people also possess the misconception that grout is an adhesive. “While grout helps keep tiles in place, it is not plaster,” he said. “It is only meant to fill in the gaps between
courses of tiles that are already in place. The tiles are typically installed and in place with mortar on their bottom side. Grout merely keeps these tiles in place, so they do not move around like loose puzzle pieces. There are clear distinctions between adhesives and grout.” Joel said that it is important to seal grout several days after it has cured in order to prevent staining from happening immediately after application. He recommended purchasing penetrating sealers, which are more effective than membrane-forming sealers. It is important to keep water out of your tile installations, as it will eventually stain your grout. If you notice that your grout is beginning to brown, the problem can be fixed by simply scrubbing it down with the right brushes and cleaning solutions. Typically, grout starts to crack due to incorrect initial application or due to the internal grout structure. Sometimes grout is applied inaccurately to a joint. According to Amar, grout must be either poured or pumped into
the joints, and in some cases, this process is done poorly, causing the grout to crack with time. Sometimes the grout mixture is made with too much water, causing evaporation after application and holes in the grout — giving it that cracked appearance. When your grout is beginning to crack, it is important to reseal it yourself, or you can contact a professional to apply the sealer for you. Only in extreme cases should you replace your grout or tiles. If your tile grout has accumulated a bulk up of food and grease, it may be best to reapply. If you feel that this is necessary, you should contact a professional tile company or a contractor to help reapply the grout. There are several options for choosing a contractor, but the Guam Contractors license board maintains a list of relevant professionals. Additionally, ask your favorite tile store for a recommendation. p
It is important to seal grout several days after it has cured in order to prevent staining.
Browning grout can be fixed by scrubbing it down with the right brushes and solutions.
Photos by Christen Dimalanta
14
MARKET WATC H
THE REAL ESTATE JOURNAL
Watching interest rates and understanding their movement is essential for borrowers BY JACQUELINE ANNE HOCOG Credit manager, Mortgage Banking Group, Bank of Guam For any current and future homeowner, monitoring interest rates will provide an insight to what you could expect to pay on your mortgage loan. In recent months, rates have been trending upwards. With rates increasing, the cost of borrowing will continue to increase for borrowers. In last month’s “Market Watch,” Siska Hutapea of Cornerstone Valuation said that, “Despite the shortage in supply, Guam residential sales continue strong on the second
quarter of 2018 in volume and number of transactions.” The steady rise in rates since the beginning of the year had little effect on the local residential sales market, as sales are not stagnant. The sales market may not have been adversely affected by the rate hike; however, consumers in the long term will be affected, as their monthly payments are dependent on the interest rate. According to Joseph P. Bradley, chief economist and business continuity officer at the Bank of Guam, “Assessing the future decisions of the Federal Open Market Committee is much more difficult, but most observers expect another 25 basis point increase in the Sept. 12 FOMC meeting and another 25bp
increase on Dec. 5.” The U.S. Prime Rate has seen an increase of 125bp since December 2016, and is only expected to continue to rise. Bradley further said, “The imposition of trade tariffs and other sanctions during the past several months could be more or less disruptive to the global economy, as can evolving currency exchange rate upheavals, which will have a more or less direct effect on the performance of the U.S. economy. … Nonetheless, the Fed is trying to unwind its bloated balance sheet after nearly a decade of “quantitative easing,” during which they purchased trillions of dollars’ worth of longer-term debt and other securities in order to keep longterm interest rates low enough to
encourage business investment.” It is important that consumers stay abreast of the many changes that affect interest rates, as it will determine their ability to purchase. Rates determine if one can afford the debt so consumers must monitor the market closely, seek updated information, through subscribing to materials on interest rate changes, or contacting your local financial institution to obtain the most current information. Understanding the movement of interest rates is one aspect of being successful in the preparation of the home buying process and when you are comfortable with the cost associated with purchasing, then move forward with your purchase. p
2018 - U.S. Average 30 YR Fixed Rate Mortgage
Source: fedprimerate.com
Change in Prime Rate 2016-2018
Source: 2018 Primary Mortgage Market Survey by Freddie Mac
16
NEED TO KNOW | SUS TAINABLE LIVING
THE REAL ESTATE JOURNAL
Rich soil, water and sunlight are crucial to maintaining a sustainable lifestyle.
Photo courtesy of Farm To Table Guam
Simple ideas for starting an eco-friendly lifestyle There are simple steps you can take within the comfort of your own home to lead a sustainable lifestyle and contribute to the wellbeing of your community and, in turn, the earth. Peggy Denney, program administrator of i*recycle — a nonprofit organization that partners with local businesses and aims to
promote recycling for the financial benefit of Guam’s schools and students, stated that there are three goals one must strive for and uphold in order to live sustainably. The first goal is to produce zero waste. This can be completed by utilizing the concept of reducing, reusing, recycling and upcycling, in that order. You can reduce by
limiting the number of items you utilize in your daily life. You should strive to reuse these items as much as possible before replacing or discarding them. If you decide to discard items, you can recycle them by disposing of them in their designated recycle bins. In this way, waste sent to the landfill is reduced significantly and the landfill will
last longer. Denney also stressed the importance of taking home wastes to their designated areas. Guam has residential transfer stations in Harmon, Malojloj and Agat. These stations accept recyclable materials from residential customers and are open from 9 a.m. to 5 p.m. Monday through Thursday. The Harmon
NEED TO KNOW | SUS TAINABLE LIVING
THE REAL ESTATE JOURNAL
17
Large receptacles are used to separate recyclable items.
A perfect example of sustainable living is shown here with a customized Home Harvest System from Farm To Table Guam.
Photo courtesy of Farm To Table Guam
transfer station also possesses a hazardous waste facility, which allows residents to properly dispose of hazardous wastes such as cooking oil and lightbulbs. i*recycle also has recycle bins in almost every school on island that contribute overall to the benefit of the students, schools and island. You can collect aluminum cans or scrap metals in your home and donate them to the school of your choice. The second goal is to reduce energy and water consumption. You can start reducing your consumption
by using as little electricity as possible and unplugging appliances that are not being used. You can also invest in solar power energy. Joe Rosario, business development director of Micronesia Renewable Energy, said that solar power systems can last more than 25 years, which means that your utility bill will decrease significantly from the first day your system is used. MRE also offers a solar solution that requires zero capital investment. Thus, by switching to solar power, you are not only decreasing your
carbon footprint, but you are also saving thousands of dollars in the long run. You can conserve water by taking shorter showers and turning off the water whenever you wash your hands or brush your teeth. By following these steps, your energy and water bills will decrease, and so will your negative impact on the environment. The third goal is to support and grow local produce. Farm to Table Guam Corp., a nonprofit organization committed to
supporting local farmers for the overall well-being of the island, aims to promote sustainable living by encouraging the usage of Guamgrown produce. Cassie Brady and Roland Santos, Farm to Table Guam representatives, offered advice on how to follow the organization’s path by growing local produce within your backyard. First, you have to decide whether you want to grow groundbased or container-based produce, continued on page 18
18
NEED TO KNOW | SUS TAINABLE LIVING
THE REAL ESTATE JOURNAL
PUBLISHER Maureen N. Maratita BUSINESS EDITOR Meghan Hickey LIFESTYLE EDITOR Jesse C. Babauta CONTENT COORDINATORS Celia Chavez Christen Dimalanta CREATIVE DEPARTMENT SUPERVISOR Vikki Fong DESIGN & PRODUCTION Conrad Calma Keisha Marie Gozum Luisa Joy Castro GENERAL SALES MANAGER Ken Duenas PRODUCT REPRESENTATIVE Arvie Cipriano ADMINISTRATION Janice Castro Carmelita McClellan Jenalyn Aguon MANAGING DIRECTOR Marcos W. Fong
The Real Estate Journal — August 20, 2018. Entire contents copyrighted 2018 by Glimpses of Guam, Inc. The Real Estate Journal is published monthly by Glimpses of Guam, Inc. 161 US Army Juan C. Fejeran St., Barrigada Heights, Guam 96913. (671) 649-0883; Fax (671) 6498883. POSTMASTER: Send address changes to Marianas Business Journal, P.O. Box 3191, Hagåtña, Guam 96932. Send e-mail to glimpses@glimpsesofaguam.com. All rights reserved. Subscriptions, 6 months $60 1 year $120. Payment must accompany order. No material may be printed in part or in whole without written permission from the publisher. Printed by Guam Daily Post, LLC, on Guam. In the Northern Mariana Islands, contact Marianas Business Journal at Glimpses of Saipan Inc., 2nd Floor Transpac Business Center, Middle Road, Gualo Rai, Saipan, MP 96950, or call (670) 235-7645; Fax (670) 234-1801. Send e-mail to subscriptions@glimpsesofguam.com.
Reduce the high cost of food and eat healthier by growing your own produce.
Photo courtesy of Farm To Table Guam
continued from page 16
Glimpses Publications include Guam Business Magazine, Marianas Business Journal, MBJ Life, The Real Estate Journal, Beach Road Magazine, Buenas, Drive Guam Magazine and Pocket Deals. Glimpses of Guam Inc. Mission Statement: To connect people with information.
depending on your available space. Many people may feel they are unable to grow at home due to lack of a yard. Santos said there are promising alternatives. His balcony serves as his home garden and he utilizes the container method. You can start by using cut 5-gallon water containers as plant holders, which is a good way to recycle. She also introduced Farm to Table’s Home Harvest Systems. Brady said other options include buckets or pots
and home-built wooden crates. The next step in growing your own produce is understanding what you want to grow based on what you use. “I see a lot of people growing tomatoes, but not eating them,” he said. “It’s important to look at your lifestyle, what you will use in your daily life. Do some research on the type of plants you want to grow. Look at their requirements. Follow those steps. The directions on the back of a seed packet open the door to a sustainable lifestyle.” Santos also stressed the organic
method of growing, which Farm to Table practices and which he uses in his home garden. “We do not use unnatural pesticides,” he said. “And we make our own compost. We break down food waste, making our soil rich in nutrients through natural methods. There are no chemicals in our soil and in our produce. That’s what we do here at Farm to Table, and that’s what I do at home. The organic method truly is the way to go.” p