Today's GuamHome February 2019

ISSUE 2 | FEBRUARY 2019

WHAT’S INSIDE Market Report | Meet Our Agents | Closed by Today’s Realty | On the Cover | Just Listed Tips for an Aspiring Landlord | Are You Married?

CONTENTS 02 03 05 07

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

MEET OUR AGENTS

SOLD BY TODAY’S REALTY

A collection of recent homes sold by Today’s Realty

It is our honor to present this collection of beautiful homes for your review.

Our team of over 20 agents and associatebrokers are all members of the Guam Association of REALTORS®, the National Association of REALTORS® and the Guam Multiple Listing Service (Guam MLS).

Our team at Today’s Realty has ranked #1 for many years running in top sales reported to the Guam MLS. Buyers, Sellers and Renters know when it’s time for real estate... It’s time for Today’s!

We are never too busy for your referrals!

ON THE COVER

185 Bien Avenida, Sinajana Home TIPS FOR AN ASPIRING LANDLORD ARE YOU MARRIED?

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

Anthony Godwin Principal Broker / REALTOR®

Jun “John” Lin Vice President / REALTOR®

JUST LISTED

Recently listed properties in the market.

FOR THOUSANDS OF LISTINGS VISIT

WWW.GUAMHOME.COM

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

HOMES SOLD

22 Single family homes sold from January 1, 2019 thru February 1, 2019 vs. the 29 homes sold in 2018.

HOMES RENTED

Year to date saw an decrease in the number of single family homes rented at 68 in 2019 and 70 in 2018.

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UNITS SOLD

21 Condominium units have been sold from January 1, 2019 thru February 1, 2019 vs. the 16 units sold in 2018.

UNITS RENTED

Year to date saw a increase in the number of condominiums, townhomes, apartments rented from 91 in 2018 to current year at 101.

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

AVERAGE SALE & RENTAL PRICE HOME SALES

The average year-to-date home price of $371,686 was significantly higher than the $338,921 reported during the same period in 2018.

HOME RENTALS

Average single family monthly rentals so far this year decreased from $2,333 last year to current year at $2,292.

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UNIT SALES

The average condominium sale price of $237,000 in 2019 was lower than the $246,069 reported during the same period in 2018.

UNIT RENTALS

The monthly rental rate for condominiums, townhomes, apartments increased from $1,763 in 2018 to $1,774 for the same period in 2019.

AVERAGE DAYS IN THE MARKET HOME SALES

On average, single family home sales in Guam take about 6 months to sell from date listed to date closed vs. the closings for the same period in 2018 at 4 months.

HOME RENTALS

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

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Interest rates are still very attractive with fixed rates hovering above four percent (4%). The inventory of homes on the market provides buyers with a good selection of properties to choose from. Coupled with low interest rates, it’s a great time to buy. ~ Anthony Godwin, Principal Broker

UNIT SALES

Unit sales in Guam took about 3 months to complete transactions in 2019.

Compare this to the closings for the same period in 2018 at about 3 months.

UNIT RENTALS

In 2019, unit rentals took about 8 weeks from date listed to date closed. Compare this to the 9 weeks for closings during the same period in 2018.

*Statistics from Guam Multiple Listing Service from January 1, 2019 through February 1, 2019. **Statistics from Guam Multiple Listing (MLS) from January 1, 2018 through February 1, 2018. Transactions not reported to the Guam Multiple Listing Service (MLS) are not included in this presentation. Information deemed reliable but not guaranteed.

Entire contents, including but not limited to, content, design and concept Copyright ©2019 by LG&G Corporation.

All rights reserved.

MEET OUR AGENTS

Angie Camacho 671.687.0483 angie@guamhome.com

Beverly Brady 671.688.8550 beverly@guamhome.com

Carmen Mesa 671.777.6372 carmen@guamhome.com

Chad Knapp 671.777.6520 chad@guamhome.com

Francine Bamba 671.727.8008 sissy@guamhome.com

Hui Gallagher 671.689.4881 hui@guamhome.com

Janet Calvo 671.687.1841 janet@guamhome.com

Jason Young 671.685.2059 jason@guamhome.com

Sandy Yow 671.687.6006 sandy@guamhome.com

Sharmila Sahni 671.483.7125 sharmilasahni@yahoo.com

Shawntel Techaira 671.483.7368 shawntel@guamhome.com

Suzanne Naputi 671.482.6426 suzanne@guamhome.com

Anthony Godwin 671.688.8198 anthony@guamhome.com Principal Broker | REALTORÂŽ

John Lin 671.688.8518 john@guamhome.com Vice President | REALTORÂŽ

Work with the Proven Market Leader

Christine Campos 671.682.2412 christine@guamhome.com

Dennis Couzijn 671.727.3815 dennis@guamhome.com

Duane Pahl 671.689.7777 duane@guamhome.com

Fiona Hocking 671.988.9982 fiona@guamhome.com

Julie Paxton 671.687.6900 realestate@guam.net

Kimberly Ada 671.489.5232 kima@guamhome.com

Michael Kumar 671.988.6900 michael@guamhome.com

Ray Rupley 671.685.5070 ray@guamhome.com

Vicki Anderson Estes 671.687.3558 vicki@guamhome.com

Yumiko Blaisus 671.688.7791 yumiko@guamhome.com

Thinking about a career in real estate?

We can help!

Contact us at 671-649-4361 or broker@guamhome.com 4

CLOSED BY TODAY’S REALTY

Piti Home | $1,100,000 Days on market: 244 | MLS ID: 18-2315

Barrigada Unit | $2,205/mo Days on market: 193 | MLS ID: 18-2986

Barrigada Home | $481,100 Days on market: 100 | MLS ID: 18-4153

Dededo Duplex | $220,000 Days on market: 79 | MLS ID: 18-4320

Dededo Home | $2,550/mo Days on market: 20 | MLS ID: 19-112

Alupang Cove Condo | $2,205/mo Days on market: 25 | MLS ID: 19-46

Entire contents, including but not limited to content, design and concept Copyright ©2019 by LG&G Corporation. All rights reserved. Anthony R. Godwin • Principal Broker

A collection of recent properties closed by our REALTORS®

Apusento Gardens Unit | $1,500/mo Days on market: 67 | MLS ID: 18-3921

Barrigada Home | $2,200/mo Days on market: 105 | MLS ID: 18-4117

Agat Home | $262,000 Days on market: 98 | MLS ID: 18-4179

Santa Rita Home | $4,400/mo Days on market: 51 | MLS ID: 18-4795

Yigo Home | $2,205/mo Days on market: 13 | MLS ID: 19-272

MTM Home | $2,205/mo Days on market: 10 | MLS ID: 19-304

Entire contents, including but not limited to content, design and concept Copyright ©2019 by LG&G Corporation. All rights reserved. Anthony R. Godwin • Principal Broker

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ON THE COVER 185 BIEN AVENIDA, SINAJANA, GU For Sale $549,000 This Grand and Private 2 story home is a MUST SEE!! The home welcomes you to view its endless features, and awesome location! More than 3000 square feet and a bonus! 1100sf covered/tiled back patio! This home offers 15 KW generator, 5 bedrooms, Granite counter tops, Large master bathroom, Concrete/detached tool shed, Concrete dog house, Roof top staircase w/mountain views, plus custom landscaping is Guamazing! See this HOME today!

MLS ID# 19-411

TIPS FOR AN ASPIRING LANDLORD Good day! Today’s Guam home readers. I would like to share a little information about being a landlord? Most people think, you just buy a property and rent it out. Do you think this is the case?

You must keep in mind, are you going to buy the property with cash? Are you going to use a bank? If you’re going to use cash, your only obstacle is the amount that you want to spend. If you want to use a bank? Because it is an investment property you will only be able to borrow up to a certain percentage, for example, 60 or maybe even 70% at the most.

Therefore, it’s important that you have cash ready to put down to purchase that property.

Second, you need to decide what type of renter you’re looking for? And also, what type of return on investment are you looking for? On Guam, we have all types of renters between $800 a month up to $6,600 a month.

Once you purchase your property and decide which type of tenant you want to work with, it’s a good idea to hire a real estate professional to give you a valuation of your home. Your real estate professional will also be able to provide you with tips on getting your rental property ready for market.

After getting the property ready, and making sure it is spotless, put it on the market and find a good tenant.

Keep in mind owners don’t only interview tenants, but tenants also interview landlords. Good landlords and a good tenant equals a great situation. Happy renting!

ARE YOU MARRIED? Seems like a fairly straightforward question, doesn’t it? However, in the real estate industry (and in Guam’s abundantly rich cultural environment), it’s actually a bit more complicated than a simple yes or no.

Seven years ago, we closed a transaction where a couple from mainland China were purchasing a residence on Guam. The house was to be held in Mr. Young’s name alone. When the escrow officer asked if they were married, the woman replied “Yes”. The man signed an affidavit of transferee stating that he was married to “Jane Chow”. Just recently the gentleman decided to sell the house and when we indicated that his wife would need to accompany him to the US Consulate in China to sign a spousal consent, he replied that he had never been married. When we asked about “Jane Chow”, he said he had been very much in love with her at the time and planned on marrying

her, but it didn’t work out. He also added that at the time that they were visiting Guam, she was still legally married to another man. SOOOO, her response was technically correct! In a perfect world, we would have followed up our first question with “To each other?” Live and learn!

This situation had a happy solution… we were fortunate enough to track Ms. Chow down in China and she signed a quitclaim deed to Mr. Young, creating a happily ever after to our story.

Interestingly enough, we have encountered this same scenario four or five times over the course of the last twelve years. I guess our tropical paradise just brings out the romantic nature in people!

We have also encountered the question of whether a person who is legally separated on the mainland is still considered married on Guam.

The answer to that question is yes. On Guam, you are either married and subject to community property laws, or you are completely divorced/ unmarried.

Who ya’ gonna call?

BY DUANE C. PAHL, R E A LT O R ® 671.689.7777 | DUANE@GUAMHOME.COM DUANEPAHL.COM

And now, since Guam law recognizes same sex marriage, our gay and lesbian friends can hold title as community property to protect joint assets.

So the next time your Realtor, Banker or Escrow Officer asks in detail about your marital status, give them the full story. They have heard just about everything, and it may just save you from having to share your property sale proceeds with some guy or gal you used to love!

BY KIM ANDERSON YOUNG PRESIDENT, SECURITY TITLE, INC.

KIM@SECURITYTITLE.NET | 671.647.8100 FINDING SIMPLE SOLUTIONS TO COMPLEX REAL ESTATE TRANSACTIONS.

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LISTED BY TODAY’S REALTY

407 LEGACY TOWER, LEO PALACE RESORT

201 VICENTICO STREET, YIGO

Looking for a place with a resort feel without the crowd? Well, look no further. This resort has everything you will need without having to leave the property, from restaurants, mini mart, boutique, fitness center, bowling alley, karaoke, golf course, pools and so much more.

Awesome opportunity to drive ONE MINUTE to work on base, living in a tranquil, appealing location in Yigo! Nestled at the end of a cul de sac, this renovated 3bd/2ba home has a large covered patio which can accommodate 2 vehicles.

142 NAPU CT., TALO VERDE, TAMUNING

314 TUMON VIEW PH. I, TUMON

Executive 4bd/3ba home located in the beautiful gated community of Talo Verde Estates. This house boasts a large master suite with a walk in closet and beautiful bathroom, marble floors, granite countertops in the kitchen, high end appliances, and much more!

Be the first to occupy this completely renovated unit, with an ocean view from the large, private, and covered balcony! This corner, 2bd/1ba unit is just walking distance to the Tumon beaches, bustling night life, and Pleasure Island!

For Rent $2,450/mo | MLS ID: 19-568

For Rent $4,400/mo | MLS ID: 19-415

For Rent $2,200/mo | MLS ID: 19-366

For Rent $2,205/mo | MLS ID: 19-429

Entire contents, including but not limited to content, design and concept Copyright ©2019 by LG&G Corporation. All rights reserved. Anthony R. Godwin • Principal Broker

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

COMMERCIAL SPACE, WESTIN RESORT

ASPANGAO STREET, BARRIGADA LAND

For Rent $10,000/mo | MLS ID: 19-431

For Sale $71,000 | MLS ID: 18-4524

Say YES to ALL the possibilities in this elegant hotel space in the Westin Resort Guam in Tumon. Currently outfitted for a wedding chapel but easily transformed into a new or existing business.

Walking distance to all that Tumon has to offer.

Village lot with 987+/- square meters located on Aspangao, Barrigada, right off Kanada Loop Road, Route 8. Lot appears to have a valley view and located in a residential neighborhood.

506 ALUPANG COVE, TAMUNING

287 CHALAN KARETA, MANGILAO

This 1bd/1ba unit is in very clean condition. Building has lots of amenities, pool, mail delivery, BBQ and play area for kids. Beautiful ocean view and excellently maintained landscaping. Unit is fully furnished. Contact your favorite realtor today!

Ideal for professional couple or your growing family! This tastefully renovated 4bd/3ba home even includes a separate Mother-In Law suite & has a great back yard. Chef ready with new stainless refrigerator, stove & microwave. Centrally located off Route 10.

For Rent $2,200/mo | MLS ID: 19-445

For Sale $355,000 | MLS ID: 19-520

Entire contents, including but not limited to content, design and concept Copyright ©2019 by LG&G Corporation. All rights reserved. Anthony R. Godwin • Principal Broker

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