Is it time to purchase?

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November 6, 2015
By Karen Pan
, Ideal Realty

18 23 karen panIs it the time to purchase a home or investment properties? Many buyers and investors that intend to purchase a home or investment property always ask this question and my answer to them is, “YES!” The information provided here will help you understand why it’s time. Most important to remember though is that you to need to prepare your finances before purchasing.

TODAY VS. 2014
• The total sales transaction as of August 2015 is 1,230 vs. 1,098 in 2014.
• Residential number of sales – 2015 (Ann)
*SFD: 599 (vs.558 in 2014)
*Condominium: 279 (vs. 260 in 2014)
• Total: $204.6million (vs. $189.1million in 2014)

TOURISTS INCREASE

• As of July 2015, the amount of tourist arrivals on Guam was 1,347,715 vs. 1,343,092 in 2014.
• Tourist rate continues to grow higher due to a diverse spread of interests to spend 
on Guam for a family vacation, a company retreat, or to start an investment.
• Shortage of hotel rooms has resulted in an increase in room rates, from $111 in 2011 to
of $156 per night in 2015.

MILTIARY BUILD-UP

• The Record of Decision on the plan to relocate 5,000 U.S. Marines and family members from Okinawa to Guam is expected to be issued later this year.
• Draft SEIS estimates $8 billion cost for U.S.-Japan military realignment in Guam.
• President Obama has reaffirmed the commitment to move forward with the relocation of Marines from Okinawa Japan to Guam on press conference in April 28, 2015.

GUAM INVESTOR’S JACKPOT

• After seeing the real estate market grow stronger and anticipating a big growth in Guam’s tourism attraction and military buildup, these factors put a huge boost for investors to target Guam as their jackpot!
• Investor traffic has been increasing steadily over the year, which has alerted the real estate market in results of pending and closed bigger development properties.

We are expecting this economy growth is just the start for Guam and that it will last for 5 to 10 years. As a result of the current economic market, the interest rates will increase, there will be a higher demand on residential properties, and lack of inventory will leave the buyer’s market less room for negotiation. Therefore, it is still a good time for buyers either to purchase their first home or investment properties!

Contact your favorite realtor and let them guide you through the purchasing process.
Please visit www.guamidealreatly.com for further buying process and procedures.

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