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ISSUE 3 | MARCH 2019

WHAT’S INSIDE Market Report | Meet Our Agents | Closed by Today’s Realty | On the Cover | Just Listed The Expenses to Prepare When Renting | What Happens in Escrow?


CONTENTS 02 03 05 07

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

210 Villagomez Street, Mangilao THE EXPENSES TO PREPARE WHEN RENTING WHAT HAPPENS IN ESCROW?

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W

elcome to the March 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 - MARCH 1, 2019

HOMES SOLD

58 Single family homes sold from January 1, 2019 thru March 1, 2019 vs. the 55 homes sold in 2018.

HOMES RENTED

Year to date saw an decrease in the number of single family homes rented at 125 in 2019 and 134 in 2018.

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UNITS SOLD

31 Condominium units have been sold from January 1, 2019 thru March 1, 2019 vs. the 32 units sold in 2018.

UNITS RENTED

Year to date saw a increase in the number of condominiums, townhomes, apartments rented from 174 in 2018 to current year at 179.

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 $369,472 was significantly higher than the $339,535 reported during the same period in 2018.

HOME RENTALS

Average single family monthly rentals so far this year decreased from $2,363 last year to current year at $2,256.

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UNIT SALES

The average condominium sale price of $227,290 in 2019 was lower than the $223,566 reported during the same period in 2018.

UNIT RENTALS

The monthly rental rate for condominiums, townhomes, apartments increased from $1,734 in 2018 to $1,821 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 March 1, 2019. **Statistics from Guam Multiple Listing (MLS) from January 1, 2018 through March 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

Jackie Calvo 671.687.5050 jackie@guamhome.com

Janet Calvo 671.687.1841 janet@guamhome.com

Ray Rupley 671.685.5070 ray@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

Anthony Godwin 671.688.8198 anthony@guamhome.com Principal Broker | REALTOR®

John Lin 671.688.8518 john@guamhome.com Vice President | REALTOR®


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

Jason Young 671.685.2059 jason@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

Suzanne Naputi 671.482.6426 suzanne@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 | $3,600/mo Days on market: 143 | MLS ID: 18-3974

Barrigada Unit | $2,000/mo Days on market: 62 | MLS ID: 18-4777

Mangilao Home | $285,000 Days on market: 107 | MLS ID: 18-4467

Yigo Home | $400,000 Days on market: 77 | MLS ID: 18-4746

Barrigada Home | $2,200/mo Days on market: 27 | MLS ID: 19-276

Paradise Estates Home | $410,000 Days on market: 40 | MLS ID: 19-289

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®

Santa Rita Home | $2,205/mo Days on market: 151 | MLS ID: 18-3968

Dededo Home | $338,000 Days on market: 119 | MLS ID: 18-4374

Mangilao Home | $1,600/mo Days on market: 52 | MLS ID: 19-72

Tumon Condo | $4,400/mo Days on market: 43 | MLS ID: 19-143

Tamuning Land | $260,000 Days on market: 14 | MLS ID: 19-458

Barrigada Heights Home | $2,200/mo Days on market: 63 | MLS ID: 18-4956

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 210 VILLAGOMEZ STREET, MANGILAO For Sale $600,000 Seller to credit Buyer $10,000.00 of the purchase price from Seller’s proceeds towards Buyer’s closing costs. Get the home you and your family deserve! Home has the most unique and beautiful design features. You’ll feel awed when you walk in. The home is modern, cool and awesome! The interior architectural features must be seen in person to appreciate. Home has an open floor plan, awesome dream kitchen, large soaking tub, walk-in closets, granite counters throughout, large 2 car garage, fully fenced and gated. Located centrally between Andersen Air Force Base and Naval Base Guam. MLS ID# 19-782


THE EXPENSES TO PREPARE WHAT HAPPENS IN WHEN RENTING: ESCROW? Hafa Adai GuamHome readers, Today’s topic will be discussing expenses that have to be prepared for when looking for a rental on the island of Guam. First things first, once you find your favorite rental, most landlords will require first months rent and a one month security deposit. One way to save a little money, is to move in the middle of the month, then that rent deposit, will be prorated. Also, something to consider is, if you have a pet? You may need a pet deposit.

A real estate transaction is complex. A single transaction involves several different parties, many carefully executed documents, and a high volume of funds. The function of escrow is to manage all the intricacies of the transaction from the time an offer is accepted right through to the final closing. EARN ABOUT ESCROW IN REAL ESTATE An escrow company acts as an independent third party to the transaction, managing the transfer of funds and documents between the buyer, seller, real estate professionals, attorneys, mortgage lenders, and government agencies. When a buyer and seller agree on the terms of a sale and sign a purchase agreement, they “open escrow”, which means they assign the escrow company with the task of ensuring that title to the property is passed from the seller to the buyer free from encumbrances. Sometimes this is called transferring “marketable title”.

Next, you will need to prepare for the following deposits when placing utilities into your name.  power, water, Internet, rubbish. Some are more than others so please be sure you’re aware of the amounts.

The first step the escrow officer will take is to order a Preliminary Title Report (PTR). The PTR discloses the legal and financial status of the property along with any discoverable defects, such as unpaid property taxes, outstanding mortgages, leases, easements or overlaps that are disclosed by a current map of the property.

Don’t forget, you might want to buy new things for your new property such as cleaning supplies, bathroom supplies, rugs and or carpets, kitchen appliances and/or needed utensils. So please keep that in mind.  

With the overview provided by the PTR, the escrow officer collects payoff information for any items appearing on the PTR. Common payoffs are real property taxes, mortgage payoffs and homeowners association dues. The Escrow Officer also works with the mortgage lender, to fulfill requirements needed to process the mortgage. Then they create a settlement statement for the approval of the buyer, seller and lender. The settlement statement shows a complete overview of costs paid in connection with the sale.

Lastly, you might want to consider expenses, which could include trucks, gas, helpers, and any equipment needed for special items during the move. As you can see there are certain expenses that you must do, and some that you could probably wait a little later after you’ve moved in and saved a little money.

“Make the call!” BY DUANE C. PAHL, R E A LT O R ® 671.689.7777 | DUANE@GUAMHOME.COM DUANEPAHL.COM

When the bank is ready to close the loan, the buyer signs the mortgage loan documents as well as the deed and required affidavits in front of a notary public. The seller usually signs the deed and required affidavits before or after the buyer and it is not uncommon for an off island seller to sign documents weeks before the closing, submitting them to escrow for use when the transaction is ready to close. Once all the instructions have been complied with, the Escrow Officer closes the transaction, which involves recording the deed and mortgage, paying off all items in connection with the sale and delivering the title insurance policies to the buyer and lender. The professionals at Security Title have the management of intricate real estate closings down to a science! Experience the difference! We look forward to working with you on your next deal.

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

165K CHALAN INDA, ORDOT-CHALAN PAGO

137 SGT. DAVID CAMACHO, TAMUNING

You’ll will love this gorgeous, 2-story home with a spectacular panoramic view of Pago Bay. This 3 bedroom, 3 bath home with a large carport, lots of storage, an outside kitchen, an open family room on the 2nd floor and a generous 2,400+/- plus square footage.

Loving the Tamuning Life? You want to see this massive open concept home of 3000 square feet feel the spacious open concept with high ceilings, and an additional kitchen. Fully fenced and gated with roof top access.

73 NIMITZ STREET, PITI

129 PEREZ VILLA, YIGO

A beautiful 2 story home with an expansive deck with ocean views. This 3bd/2.5 corner lot home also offers an attached apartment, perfect for a man cave or a mother-in-law’s quarters. Enclosed double carport provides even more space.

Perez Villa is one of the best gated community of 16 homes located just minutes from the AAFB. Featuring gourmet kitchen with plenty of counter space, luxurious master suite, very inviting floor plan, crown molding and natural light in the living room and car garage.

For Rent $4,410/mo | MLS ID: 19-839

For Sale $458,000 | MLS ID: 19-921

For Rent $3,000/mo | MLS ID: 19-901

For Rent $4,400/mo | MLS ID: 19-950

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®

1365 AGUILAR DRIVE, YONA

164 SERINA LOOP, MANGILAO

Golf course frontage! Spacious home! Extra features includes a separate maid’s quarter with full bathroom, indoor separate laundry, extra storage/’man cave’. Super spacious grounds located on the Windward Hill golf course with back yard view.

Perfect house on a nice cul de sac in the desired neighborhood of Sunrise Villa. Great family-feel-neighborhood, and lots of space inside and out for fun activities. Ceramic tiled floors, high ceilings, lots of light, and a terrific, happy home!

111-A ATANACIO STREET, MANGILAO

NORTH SABANA, BARRIGADA LAND

For Sale $449,500 | MLS ID: 19-894

For Sale $355,000 | MLS ID: 19-896

For Rent $2,700/mo | MLS ID: 19-992

For Sale $950,000 | MLS ID: 19-957

Spacious townhouse style, 4 bedroom, 2.5 bath, fenced and gated property in Mangilao., Route 10. Home boasts 3,000+/- square feet of space and is in excellent condition.

DEVELOPER AND INVESTOR ALERT! BEAUTIFUL lot, just under 5,000 square meters, fronting N. Sabana Drive! Fantastic location for small sub-division of executive level homes in exclusive Barrigada Heights! Include views of Tumon Bay, Tamuning and the airport!

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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Profile for Todays Realty

Today's GuamHome March 2019  

Check out our March 2019 issue of Today's Guamhome, we have tips from REALTOR® Duane Pahl, advice from Security Title and much more!

Today's GuamHome March 2019  

Check out our March 2019 issue of Today's Guamhome, we have tips from REALTOR® Duane Pahl, advice from Security Title and much more!