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MANGLONA REALTY's Personal News

Date:	March 2010
Subject:	It's Time to Clean!
Hafa Adai, It's time to dust off the old mop and get ready to do some deep cleaning. Don't worry- cleaning can be a fun and rewarding experience, if you approach it with the right mindset! See for yourself-with this letter, I'm including a list of tips to help you get the most out of your spring cleaning experience. I hope you find these special tips useful as you're settling into your new home! Remember to call me with any real estate questions you may have, and remember to tell your friends about me! Si Yuus Maase! Vincent A. Manglona FIVE FUN AND EASY SPRING CLEANING TIPS Dance while you dust: This is the perfect time to fully indulge your musical interests; break out the iPod or turn up the CD player, and you'll be singing along to your favorite tunes and won't find cleaning to be a chore at all! Clear out the clutter: Take the opportunity to dig into the closets, storage spaces, and of course, the garage. You've probably got a veritable treasure trove of old clutter that's just taking up space-now's the time for a yard sale! Turn that clutter into cash. Room by room: Try to focus on just one room at a time, and try to complete one room each day. This will make the whole job seem more manageable, and you'll probably get things cleaned more thoroughly than if you tried to tackle the whole house at once! Just a little more laundry: One of the things that we rarely attend to is the state of our draperies, shower curtains, and rugs. Now is your chance: gather up every spare bit of linen in the house and have it laundered; you'll be surprised at how much brighter your home will look! A room with a view: It's time to tackle those windows! Set aside a special day to give your windows a good scrubbing. Clean off any screens while you're at it: your home will literally sparkle once you're finished.

Date:	February 2010
Subject:	Finding Your Perfect Home
As the old saying goes, real estate is all about location, location, location. But, there is a lot more to it than just plain geography when it comes to finding your perfect home. There are a lot of things to consider during the search because, for most, a home is the most significant purchase they will ever make. Choose A Good Area When searching for your perfect home, the obvious place to start is with the selection of a location. If you have children, you may want to choose a home that is close to good schools and is also located in a family-oriented neighborhood. Many people also look for a home that offers a short commute to and from work. If you are shopping within a specific price range, you can also narrow the choices by finding an area that offers the best value for your dollar. Select A Style The perfect home for you is one that has all of the elements that you want. Whether it's a garage, extra bedroom or bath, a large kitchen or open floor plan, choosing the style of home that you want is an important first step in finding the perfect place. You may also want to consider whether you prefer a single-level or two-story home. Many home buyers also factor in floor plans when searching for a house, including those that offer an open and flowing design. Get Pre-Qualified Now that you know what you want and where you want it, it's important to find out how much of a home you can afford. Pre-qualification is not the same as pre-approval. With pre-qualification, your lender will request specific information relating to your income and expenditures and will offer a possible price range for you to keep in mind while shopping. Pre-qualification does not guarantee that you will receive an approval, but it does give you a good indication of how much you can afford based on your current situation. Talk To A REALTOR� Nobody knows the real estate business like a REALTOR�, so let them help you in your search for the perfect home. They can answer questions relating to the neighborhood, recent inspections on a particular home and any needed repairs. Because a REALTOR� has access to a number of area homes, they have the ability to show you various choices within your preferred area and price range. Ask About Amenities One of the most significant concerns of any home buyer is what a home has to offer. Utilities, such as water, sewer, cable, phone and electricity are just a few of the things to consider. If the home is in a subdivision that requires the payment of association dues, how will these funds be used? What amenities does the home owner's association offer? These are all questions to ask your REALTOR� when shopping for the perfect home. In conclusion, you should know that the search for your perfect home is a journey. It may be either long or short and with or without some bumps along the way, but the greatest satisfaction will be at the journey's end and your future's beginning.

Date:	January 07, 2010
Subject:	Buying A Home With Past Credit Problems
Buying a home can be both exciting and stressful but, for those with past credit problems, the process may also seem intimidating. The good news is that many lenders have adapted to the idea that many hopeful homeowners simply need a second chance, which means that past credit problems no longer have to define your future. Credit Blemishes When life unexpectedly takes a turn for the worst, it's not always possible to come out without a few bumps and bruises. Every day, people are faced with late or missed credit card payments, mortgage foreclosures, bankruptcy proceedings, auto repossessions and even civil judgments that will affect their credit reports for years to come. Whether it's from a job loss, injury or just a simple case of temporary hardship, credit blemishes are often a part of life. The good news is that they no longer have to prevent you from becoming a homeowner. Give Yourself A Little Credit After experiencing a credit problem, most lenders will want to see an attempt to rebuild your credit through a steady payment history with a new account. This can be accomplished by applying for a credit card and maintaining a responsible use of the account. If you aren't approved for an unsecured card, you can always apply for a secured credit card. Either will rebuild your credit over time and will help to show lenders that your past credit problems are just that - in the past. Clean Up Your Credit Report Before applying for a home loan, make sure that you check your credit report from each of the three major credit reporting agencies. Every 12 months, consumers can request a free copy of their credit report from Experian, Equifax and TransUnion. If anything is incorrect or found to be inaccurate, filing a dispute with the credit reporting agency can help to get the information corrected before speaking with a lender. When you apply for a home loan, the lender will access your credit report for the purpose of determining your creditworthiness. In an effort to ensure that you have the best possible chance at being approved for the loan at the best possible interest rates, making sure that your credit report is accurate is a must. Save Up For A Down Payment Some homebuyers often qualify for a mortgage with down payments as low as five percent (three percent for FHA loans), but those with past credit problems may be required to shell out up to 35 percent or more for a down payment on their new home. A buyer who pays a larger down payment obviously has more vested interest in the home and may, thereby, be less likely to default on a loan. If you have past credit problems, check with your lender about specific down payment requirements and start saving! Creative Financing Options If you've exhausted all of your conventional efforts and are still turning up empty, don't give up just yet. Alternative financing is an option that many homebuyers use to purchase a home. Your REALTOR� can provide you with details regarding any lease purchase and/or owner financing properties, which may require no credit check, no bank qualifying, a low down payment and competitive interest rate options.

Date:	December 15, 2009
Subject:	Top 10 Home Buying Mistakes
1. Doing it alone. Buying a house is a complex transaction. Even if you don�t use an agent, you�ll need a complete, dependable team: lender, lawyer, inspector, insurer, as well as referrals and advice from friends and family. Enlist the help of these individuals early in the buying process. 2. Buying at first sight. You may be in love with the place, but does it fit your family�s needs and budget? Make a list of your needs and wants and make sure the house fits your requirements. Check out the neighborhood and the community before you buy by visiting at different times of the day and week to learn about noise and traffic patterns. Even if you don�t have kids, check out the local schools to make sure your resale value will be good. 3. Not getting pre-qualified and pre-approved. Being pre-qualified gives you a general idea of how much you can afford to borrow. Being pre-approved means a lender has verified your information and credit rating and agreed to provide you with a specific amount of money. You are in a better position to go house hunting knowing exactly how much you can afford and that you have financing. 4. Overbuying. You may qualify to borrow more, but can you afford to? Analyze your monthly costs: debt, food, transportation, entertainment, and savings. As a general rule, your total monthly debts, including your mortgage, should not exceed 36 percent of your income before taxes. Be sure to budget enough to cover closing costs (often two to five percent of the home�s purchase price), plus moving, redecorating and maintenance. Allow for increases in ongoing expenses such as utilities and taxes. 5. Misplacing your trust. No matter how much you like the agent, sellers, inspector, or the guy down the block who vouches for them, remember this is a business transaction. Your decision is binding. Do your own research and know your support team�s roles and responsibilities. 6. Relying on oral agreements. Get it right and get it in writing. Written agreements almost always trump oral ones when it comes to contracts. If the offer says the lawnmower is negotiable, but the agent says it�s included, get it in writing. 7. Skipping the fine print. You need to understand what you�re signing before you pick up a pen. Ask for documents in advance, make time to read them and ask questions. Get copies of your mortgage papers a few days ahead of closing. 8. Forgetting or betting on resale. Avoid buying a home that costs 50 percent more than neighboring homes and think before buying the most expensive home on the block. Your neighbors� lower home values will weaken yours. Remember, markets change. If you buy intending to flip your investment and the market falls and you have to sell, your selling price may not be enough to even cover your mortgage. 9. Making an unconditional offer. Protect yourself with at least two of these contingencies in your offer: Mortgage financing -- You�re pre-approved, but is the house? Before a bank will lend you money, it will want a formal appraisal of the property to confirm that there is sufficient equity in it to warrant the loan. If the house appraises lower than the sales price, the loan may be declined. Inspection -- never buy an existing or new home without a thorough home inspection. Walk through the home with the inspector to learn more about the house and any concerns he or she may have. Insurance -- confirm you can get adequate coverage. In some areas, it�s difficult to get hazard insurance. 10. Having buyer�s remorse. No place is perfect. There will always be surprises. Don�t let a few initial blips spoil the whole ride. And don�t miss a great house waiting for the perfect one!

Date:	Nov. 11, 2009
Subject:	Bringing the Dream of Homeownership Wthin Reach
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that: �� Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010. �� Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010. Here is more information about how the Extended Home Buyer Tax Credit can help prospective home buyers become part of the American dream. If you have specific questions or need additional information, please contact a tax professional or the Internal Revenue Service at 800-829-1040. Latest news: Tax Credit Extension a Positive Step Toward Real Estate Recovery (Nov.5) President's Podcast: Tax Credit Extended (Nov. 5) Who Qualifies for the Extended Credit? �� First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010. �� Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight. To qualify as a �first-time home buyer� the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase. If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see: 2009 First-Time Home Buyer Tax Credit. Which Properties Are Eligible? The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops. How Much Is Available? The maximum allowable credit for first-time home buyers is $8,000. The maximum allowable credit for current homeowners is $6,500. How is a Buyer's Credit Amount Determined? Each home buyer�s tax credit is determined by tow additional factors: 1.The price of the home. 2.The buyer's income. Price Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less. Buyer Income Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000�may receive the maximum tax credit. These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits. If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see 2009 First-Time Home Buyer Tax Credit. If the Buyer(s)� Income Exceeds These Limits, Can He/She Still Get a Credit? Yes, some buyers may still be eligible for the credit. The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income�over $145,000 for singles and over $245,000 for couples are not eligible for the credit. Can a Buyer Still Qualify If He/She Closes After April 30, 2010? Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close. Will the Tax Credit Need to Be Repaid? No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.

Date:	Oct. 23, 2009
Subject:	Article XII: Restrictions and protections on private land ownership.
Letters to the Editor from Saipan Tribune News Friday, October 23, 2009 Editor's Note: The following is an essay prepared by the Citizens for Change of Article 12. A follow-up essay will discuss exceptions to the NMD land ownership restrictions and the effects of Article XII on the real estate market and the economy during the 20-plus years since its implementation. First part of a series Since 1976, only persons of Northern Marianas descent have been allowed to own land in the CNMI. In 2011, approximately one generation and 25 years will have passed with the CNMI operating under these protections. As we approach the time when a decision about continuing, changing, or abolishing restrictions on land ownership can be brought before the people, it is important for everyone to clearly understand the issues. Part 1 of this paper deals with who, exactly, is a person of Northern Marianas Descent. Under Article XII of the CNMI Constitution private land ownership is restricted to certain persons. Section 805 of the Covenant mandates that these restrictions stay in place until 2011, at which time the people of the Commonwealth may consider whether or not to maintain, abolish, or amend them. From the very beginning of negotiations that led up to the creation of the Covenant it was agreed that the people of the Northern Marianas needed be protected from an anticipated influx of sophisticated outside investors. The main concern was that these outside investors might out-bid local residents and purchase large amounts of the available land. It was feared that this would drive real estate values beyond the reach of residents and forever leave many without the opportunity to own land. The CNMI Constitution designates the category of persons who may own land in the CNMI. This designation had to encompass all persons who were allowed to reside in the Northern Marianas after the repatriations following World War II, and yet not include those who were there at the behest of the United States government. This was a complex task because over the centuries since first contact with the Spanish in 1521, there has been blending of peoples and migrations from other islands, although a framework of Chamorro and Carolinian cultures persist. Ultimately, the solution was to create a political designation; persons of Northern Marianas Descent. So, based on the citizenship parameters established in the Covenant, Article XII Section 4 of the Constitution was crafted. First, it was necessary to establish who was considered a full-blooded Northern Marianas Chamorro or Carolinian. These persons had to be either born or living in the Northern Marianas Islands by 1950 and must have been a citizen of the Trust Territory before the Trusteeship was terminated. Then, provision had to be made for the subsequent generations and to what extent dilution from the full-blooded designation would be permitted while still allowing a person to be considered of Northern Marianas descent. The final decision as laid out in the Constitution is that a person who is at least one quarter Northern Marianas Chamorro or Northern Marianas Carolinian blood or a combination of the two, or a child adopted prior to the age of 18 by a person of Northern Marianas Descent qualifies as being of Northern Marianas Descent. The only other �persons� who are legally considered persons Northern Marianas descent are certain corporations who are incorporated in the Commonwealth, have their principal place of business in the Commonwealth, have directors one-hundred percent of whom are persons of Northern Marianas descent and have voting shares (i.e. common or preferred) one-hundred percent of which are actually owned by persons of Northern Marianas descent. These are almost exclusively the persons who may own land in the CNMI.

Date:	Oct. 8, 2009
Subject:	Buying Verses Renting A Home
When it comes to a home, you have two options: buy or rent. What is right for one person may not be right for another, which is why it's important to know which is the best option for your individual situation. Why People Rent There are a number of reasons why someone may either choose or be forced to rent, including sporadic or unpredictable income, a high debt-to-income ratio, a bankruptcy or foreclosure within the last six months, unpaid collection accounts or judgments, frequent relocating for employment or the inability to save enough money for a required down payment on the purchase of a home. Maintenance Matters As a homeowner, you will be responsible for any maintenance or repair issues that arise. This is a big consideration when choosing whether to rent or buy. When you rent, the property owner is responsible for repairs and it may not always be obvious that these issues can be very costly. How To Know When It's Time To Buy If you have steady income with a good employment history, can provide a down payment of at least 5-10 percent of the purchase price and are current with all debts, it may be time to consider buying a home instead of renting. In some cases, the cost of rent may even exceed that of a typical mortgage payment. When deciding to buy, job stability is a big factor. If your job does not require frequent relocation and you plan to live in the home for at least 5-10 years, you may want to consider making the purchase. If you need to relocate after that, you may have enough equity from the sale to use as a down payment on another home. Home Buyer's Checklist If you can answer yes to the following questions, you may be ready for home ownership. Your REALTOR� can help you to find the perfect home based on your individual needs. �Have you been steadily employed for at least one year, but preferably two years? �Do you plan to live in the home long enough to build equity? �Can you provide a down payment and still have enough money left to pay for closing costs, utilities and home furnishings? �Are you current on all debts, including auto loans, credit cards, etc.? �In addition to any current debts that you may have, can you afford a monthly mortgage payment which will likely include property taxes and insurance? �Do you have the time to devote to shopping for a home and comparing interest rates from various lenders? �Have you checked your credit reports for inaccuracies and disputed anything that needs correction with each of the three major credit reporting agencies? The decision to buy or rent is a very personal one that can only be determined after a careful evaluation of your situation. A REALTOR� can show you the perfect home and a lender can tell you whether or not you can afford it, but it's up to you to make the choice as to whether or not you are ready to make the move.

Date:	Sept. 29, 2009
Subject:	You do not need to have a great deal of money to invest and be a sucessful real estate investor.
You can make a success of real estate investing no matter how much or little money you have. There are many deals that will let you use other people�s money to do them. If you look like a good investment a private lender may let you use their money. An investor who is a good investment knows as much as they can when it comes to real estate investing. This will help you show people that you are a good investment if they have the money to help you with real estate investing but they do not know how to use it. Real estate investing is a great way to generate wealth. You can create income regardless of the economy. Using knowledge of real estate investing, short sales, bulk reo sales and virtual real estate you will be able to create success for yourself. Real estate investing basic knowledge will help you succeed as a real estate investor.

Date:
Subject:	Guam Information!
Guam Vital Statistics: �OFFICIAL NAME: Territory of Guam �Capitol: Agana �POPULATION: Approximately 175,900 total. �CITIZENSHIP: United States �Land area: 212 sq. mi. (529sq. km) �OFFICIAL LANGUAGES: English and Chamorro �RELIGION: Roman Catholic 85%, other 15% �Ethnicity: Chamorro 37%, Filipino 26%, Japan, Korean, Chinese, amd other 27% �CURRENCY: U.S. Dollar �ELECTRICITY: Single Phase 60 Cycles 115/230 Volts AC �HEALTH SERVICES: Provided by the Guam Memorial Hospital. Full service medical care. Private health clinics are available on Guam. �TELEPHONES: Area Code:671. �POSTAL SERVICE: The United States Postal Service provides daily mail service at regular postal rates. �WEATHER: The Guam�s weather is averaging 82 degrees Fahrenheit year-round. Weather information may be obtained at the National Weather Service.

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