Today's GuamHome November 2018

ISSUE 11 | NOVEMBER 2018

WHAT’S INSIDE Market Report | Meet Our Agents | Closed by Today’s Realty | On the Cover First Time Homebuyer Tips | Set Back Requirements | Just Listed

CONTENTS

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

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MARKET REPORT Residential Market Snapshot from January 1, 2018 to November 1, 2018

MEET OUR AGENTS

elcome to the November 2018 issue of Today’s Guamhome newsletter.

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

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!

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SOLD BY TODAY’S REALTY

A collection of recent homes sold by Today’s Realty

Anthony Godwin Principal Broker / REALTOR®

Jun “John” Lin Vice President / REALTOR®

ON THE COVER

126 Santa ana Lane, Asan, Guam FIRST TIME HOMEBUYER TIPS SET BACK REQUIREMENTS

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JUST LISTED

Recently listed properties in the market.

Today’s Realty agents and staff during our 2017 Christmas Party

FOR THOUSANDS OF LISTINGS VISIT

WWW.GUAMHOME.COM

RESIDENTIAL MARKET SNAPSHOT JANUARY 1, 2018 - NOVEMBER 1, 2018

HOMES SOLD

333 Single family homes sold from January 1, 2018 thru November 1, 2018 vs. the 311 homes sold in 2017.

HOMES RENTED

Year to date saw an increase in the number of single family homes rented at 690 in 2018 and 638 in 2017.

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UNITS SOLD

188 Condominium units have been sold from January 1, 2018 thru November 1, 2018 vs. the 179 units sold in 2017.

UNITS RENTED

Year to date saw a increase in the number of condominiums, townhomes, apartments rented from 942 in 2017 to current year at 1,023.

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 $336,756 was significantly higher than the $295,032 reported during the same period in 2017.

HOME RENTALS

Average single family monthly rentals so far this year decreased from $2,408 last year to current year at $2,390.

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UNIT SALES

The average condominium sale price of $244,958 in 2018 was higher than the $224,389 reported during the same period in 2017.

UNIT RENTALS

The monthly rental rate for condominiums, townhomes, apartments increased from $1,641 in 2017 to $1,685 for the same period in 2018.

AVERAGE DAYS IN THE MARKET HOME SALES

On average, single family home sales in Guam take about 4 months to sell from date listed to date closed vs. the closings for the same period in 2017 at 5 months.

HOME RENTALS

In 2018, home rentals took about 8 weeks from date listed to date closed vs. the closings for the same period in 2017 at 8 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 2018.

Compare this to the closings for the same period in 2017 at about 4 months.

UNIT RENTALS

In 2018, unit rentals took about 8 weeks from date listed to date closed. Compare this to the 8 weeks for closings during the same period in 2017.

*Statistics from Guam Multiple Listing Service from January 1, 2018 through November 1, 2018. **Statistics from Guam Multiple Listing (MLS) from January 1, 2017 through November 1, 2017. 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 ©2018 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 San Nicolas 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

Summer Palace Townhome • $320,000 Days on market: 18-2076 | MLS ID: 167

Baza Gardens Home • $200,000 Days on market: 123 | MLS ID: 18-2550

Alupang Cove Condo • $250,000 Days on market: 64 | MLS ID: 18-3437

Paradise Estates Home • $2,450/mo Days on market: 41 | MLS ID: 183673

Agana Heights Unit • $725/mo Days on market: 23 | MLS ID: 18-3972

Aloha Villa • $1,250/mo Days on market: 30 | MLS ID: 18-3981

Entire contents, including but not limited to content, design and concept Copyright ©2018 by LG&G Corporation. All rights reserved. Anthony R. Godwin • Principal Broker

A collection of recent properties closed by our REALTORS®

Bonita Villa • $180,000 Days on market: 112 | MLS ID: 18-2654

Tamuning Home • $401,000 Days on market: 87 | MLS ID: 18-3201

Dededo Home • $2,200/mo Days on market: 69 | MLS ID: 18-3412

Beachfront Tamuning Land • $1,250,000 Days on market: 70 | MLS ID: 18-3354

Alupang Cove Condo • $2,205/mo Days on market: 27 | MLS ID: 18-4111

Ypao Gardens Condo • $2,205/mo Days on market: 56 | MLS ID: 18-3931

Entire contents, including but not limited to content, design and concept Copyright ©2018 by LG&G Corporation. All rights reserved. Anthony R. Godwin • Principal Broker

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ON THE COVER 126 SANTA ANA LANE, ASAN, GUAM For Rent $3,000/mo Live with what Guam has to offer in this home overlooking the Asan Beach. Situated atop the village of Asan. This home presents stunning ocean views and lush greeneries. Built in 2014 for a family that loves privacy, beautiful open floor plan, 3 bed / 2.5 bath, a large gourmet kitchen, views of the ocean from all front windows and a large balcony. The home is ready to move in!

MLS ID# 18-4203

FIRST TIME HOMEBUYER TIPS Customer: Hello Duane Pahl my name is Mary and I come from the village of Asan. I have heard many people talk about purchasing a home with no money down, I’m very interested in finding out how this can be done?

programs, the next step is to get qualified and find out how much you can borrow. Once you have an idea of how much money you want to use towards your purchase, it’s a very good idea to work with A REALTOR® since they know the neighborhood conditions and can help finding you a home that you and your family will want.

may be able to get discounted fees.

Again, this is a very short list of how to buy a home with no money down, but I would love to sit down with you and discuss in detail the exact steps on how to purchase.

such as mailboxes, which interestingly enough have a maximum setback instead of a minimum setback; if a mailbox is set too far from the curb, A few examples of Guam’s setback requirements include:

• H Resort-Hotel Zone.

• S-1 (School Zone).

• Public Facility (PF)

Duane: Hello Mary, that is a very For all of your Guam Real Estate needs! good question and it would take many Who you gonna call? Duane Pahl! columns to fully explain the process. But let me give a few simple ideas as to how Once you have found a home you this can be achieved. want and can afford, work with Who ya’ gonna your REALTOR® to submit a purchase call?

The first thing you have to do is go to a offer. The biggest expense moving lender and get qualified, to see if your forward will be your closing costs, and able to apply for first time home buyer expenses associated with checking the

BY DUANE C. PAHL, R E A LT O R ® programs or veterans administration electrical/plumbing/structural/survey programs. While doing that it’s components of the property. The closing 671.689.7777 | DUANE@GUAMHOME.COM DUANEPAHL.COM important to get your credit score. On costs, with negotiations with the seller, occasion, depending on what your can often be credited back to you so that income levels are, you may not be able you don’t have to pay. to get 100% financing.

Lastly, if you have friends that are If you do qualify for 100% loan licensed to do home inspections, you

SET BACK REQUIREMENTS

Different setbacks apply to each of the different zoning designations; for example a standard A setback requirement refers to the distance from • Distances from the ocean or river to a house residential setback would be 15 feet on the front, the property line to the building or structure • View Corridors so as not to block ocean or 8 feet on each side and 10 feet in the rear; while located on the lot. It can also apply to the river access an M-1 setback sets a minimum of 0 feet on the distance from a street or road to a structure; or • Distances from a septic system to the lot line front, 8 feet on the sides and 20 feet on the rear the distance from a natural feature, such as a • Distance from a septic system to the aquifer of the property. river, lake or shoreline to an improvement located that provides our drinking water on the lot. Setbacks are established to promote Any decision to build should start with hiring a well-planned communities and to provide for Residential setback rules are set by both the licensed Guam surveyor, who will ensure your public access, utilities and public enjoyment.

Guam zoning law AND subdivision covenants setback distances will comply with Guam law! with the most restrictive covenant being the Setbacks can be set by federal or local one that rules. Setback requirements vary government zoning laws as well as by subdivision according to the zoning and appropriate use of covenants. On Guam, the Territorial Land Use the property. Guam’s zone designations are: Commission is responsible for zoning regulations

BY KIM ANDERSON YOUNG and variances.

• R1 One Family Dwelling Zone.

PRESIDENT, SECURITY TITLE, INC. • R2 Multiple Dwelling Zone.

Federal setbacks apply when the property is • C Commercial Zone.

KIM@SECURITYTITLE.NET | 671.647.8100 regulated by the federal government, such • P Automobile Parking Zone.

FINDING SIMPLE SOLUTIONS TO COMPLEX REAL ESTATE as government funded roadways or federal • M1 Light Industrial Zone.

TRANSACTIONS. parks. Federal setbacks also apply to items • M2 Heavy Industrial Zone.

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LISTED BY TODAY’S REALTY

364 CHALAN PUGUA MATCHENA, DEDEDO

A103 ASENTADU VILLA, TAMUNING

For Rent $2,200/mo | MLS ID: 18-3008

For Rent $1,800/mo | MLS ID: 18-3081

Located in a quiet neighborhood near AAFB. Home has 3bd/2.5ba, 1,500+/-sf, fully fenced along perimeter of yard and has a gate entrance.

This bright and airy 3 bedroom 2 bath first floor unit is available and move in ready! Perfectly located in the popular Tamuning area.

Just minutes away from shopping, entertainment, grocery stores, restaurants, and so much more.

638 CHALAN PADIRON HAYA, YIGO

121 ESTRALITA COURT, TAMUNING

Beautiful and spacious 4bd/3ba home right off of Route 15. Just a couple minutes away from AAFB. Yard space, amazing kitchen, panoramic views, security system, water purifier, and water softener.

Extremely well maintained. Tumon Heights Villa is located in central Tamuning just minutes from downtown Tumon, sandy beaches, airport, shopping malls and restaurants. Features include back up generator, water softener & a large storage space.

For Rent $3,000/mo | MLS ID: 18-4417

For Sale $375,000 | MLS ID: 18-4437

Entire contents, including but not limited to content, design and concept Copyright ©2018 by LG&G Corporation. All rights reserved. Anthony R. Godwin • Principal Broker

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

144 CAMACHO STREET, BARRIGADA

716 OKA TOWER, TAMUNING

Great location on nice quiet street close to the Naval hospital and Navy base. Spacious 3 bedroom and 2 bathroom a comfortable and roomy floor plan, shiny ceramic tiles and good size yard for your children or pet.

Clean, Clean, Clean... 7th floor unit with vast views of northern Guam & incredible evening city light views! You know the Oka Towers location, you know the pool, tennis court, views, security & other amenities to enjoy.

305 AMAZON LANE, MANGILAO

TAMUNING COMMERCIAL SPACE

For Rent $2,200/mo | MLS ID: 18-4117

For Rent $2,205/mo | MLS ID: 18-4410

For Sale $279,000 | MLS ID: 18-4467

For Rent $900/mo | MLS ID: 18-3358

Searching for a starter home? Well, look no further you have found it. This house features 3 bedrooms, 2 1/2 bath, over 1,400+/- square feet of living space and a huge spacious yard.

Guam’s busiest street...Marine Corps Drive Upper Tumon. This office/retail space is convenient to central business. Glass windows, central a/c, security systems and back up generator! Common area restrooms and open parking!

Entire contents, including but not limited to content, design and concept Copyright ©2018 by LG&G Corporation. All rights reserved. Anthony R. Godwin • Principal Broker

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