+1 671-647-7371865 South Marine Corps Drive, Suite 101
Tamuning, Guam

PARADISE IS JUST AROUND THE CORNER......
AGAIN! PHASE 1, 2, 3, 4 and 5 units are sold out

The Paradise Story

Guam's residential real estate market continues to reflect the need for good quality housing at affordable prices. The developers of Paradise Estates subdivision, located in Dededo, Guam, have been successful in providing quality single-family homes at prices local residents can afford. These prices have also been attractive to investors seeking good rates of return and potential appreciation.

"Paradise Estates", consisting of 383 single-family homes is currently "sold out". Paradise Estates was a tremendous success with 2013 prices reaching 60% over the original 2007 prices. Demand remains strong for this type of house and community environment. As a result, the development team for Paradise Estates is moving forward with a second project, "Paradise Meadows", a 101 home subdivision located north of Paradise Estates, and less than 5 minutes from Andersen Air Force Base. The "Paradise Estates" home was a result of the developer's vision to create a US mainland style home in a Guam, setting a new standard that appeals to local owners, investors, and renters alike. Over the course of the four-phase project, the development team listened to and took to heart comments and concerns of both buyers and renters who made Paradise Estates their home. As a result, minor improvements were made in each phase to make the living experience for residents even better. Paradise Meadows will be the beneficiary of this five year learning experience by providing each owner with a home that has been tried and tested. From relocating the indoor laundry facilities to installing split air-conditioning, changes have been made to improve the home and ultimately, the living experience of its owner.

Take advantage of this opportunity to get in on the "ground level" and join the "Paradise" family by purchasing a new home at Paradise Meadows. The demand has been high for these homes, so don’t delay any longer, call your favorite realtor or the Real Estate Professionals at 488-7371.

The Project

The subdivision will consist of 101 three bedroom, two bath, single-family homes. The homes will be built on lots containing approximately 500 square meters (or 5,382 square feet) of fee simple land. The subdivision will feature wide streets, underground utilities, curbs, gutters, sidewalks, streetlights, and access to a community park. The subdivision will have home mail delivery via a cluster mail box system.

Homeowner's Association and CCR's

Paradise Meadows will be governed by a Home Owners Association supported by comprehensive Covenants, Conditions, and Restrictions (CCR's) to ensure that the integrity of the community is enhanced and preserved. The initial HOA will be approximately $40.00 per month. Please review a copy of the proposed CCR's, Articles of Incorporation, and Bylaws.

Location Map

Location! Location! Location! Paradise Meadows, located off Marine Corps Drive in Yigo, is less than 5 minutes from Andersen Air Force Base; 10 minutes from the Micronesian Mall; and 15 minutes from the Tumon Bay resort area.

Sub division Map

As indicated above, Paradise Meadows will be constructed in five (5) phases. For more information on how the subdivision is designed, please click on the maps below.

Standard Features

Each Paradise home will contain approximately 1,400+ square feet of living area in addition to a 400+/- square foot two-car garage with electric door openers. All homes will be fully fenced with a perimeter concrete and aluminum wall for added privacy and security. In addition to this, the homes will have pitched roofs, bay windows in the living room and dining room, walk-in closet in the master bedroom, double vanities, ceramic tiles, and accordion typhoon shutters.

But Wait, There's More! All homes will come equipped with 9,000 BTU split air-conditioners in each bedroom and a 18,000 BTU split unit in the living room, a refrigerator, an oven/range/microwave, a washer and dryer, a dishwasher, a garbage disposal, and a water softener/purifier.

Additional "Add On's" For those buyers interested, the developer will provide a 3-foot concrete walkway around the house for an additional $3,850.00, which can be added to the purchase price for easy financing.

Floor Plans

Paradise Meadows will have two standard floor plans (Plan A: Royal Palm and Plan B: Foxtail Palm). Phase I will consist solely of Plan A: Royal Palm floor plans. Please click below to see a rendering of each floor plan.

Model Home

Master Bedroom

Model Bathroom

Home Office

Kitchen

Kitchen - Another angle

Kitchen and Dining Room

Guest Bathroom

Please be aware that Paradise Meadows is an on-going construction site and potential buyers will need to coordinate their showings with The Real Estate Professionals.

The model home has been staged by Designer's Direct. If you like what you see, or if you need assistance in purchasing new furniture for your home, the professionals at Designer's Direct are ready to help. They will be offering special discounts to Paradise Meadows buyers.

Construction Progress

Paradise Meadows will consist of five (5) stage with the estimated completion dates below. The developer will only sell homes within the current Stage, with each subsequent Stage price anticipated to increase.

Estimated Completion Dates:

  • Phase 1 -  17 homes -  08/2014 - All homes have been sold and closed
  • Phase 2 -  21 homes -  March 2015 - All homes have been sold
  • Phase 3 -  24 homes -  September 2015 - All homes have been sold
  • Phase 4 -  18 homes -  December 2015 - All homes have been sold
  • Phase 5 -  21 homes -  March 2016 - All homes have been sold

Construction Progress Pictures: Phase I

Price

TThe homes at Paradise Meadows will be marketed in stages with the initial phase consisting of 17 homes priced at $280,700.00. The price of each subsequent stage will be higher than the previous stage. Terms of the purchase will include a $5,000.00 earnest money deposit ($500.00 non-refundable) and a requirement for either evidence of a funding source for cash buyers or a conditional loan approval from an approved lending institution for those financing their purchase.

Please click here for a copy of the sample purchase agreement.

Available Homes for Sale:

Stage I homes have been completed and sold. All 17 homes now have owners or tenants enjoying life in Paradise Meadows. Stage 2 homes, consisting of 21 homes, should be completed with occupancy permits in mid March 2015. All 21 homes in Stage 2 have been sold at $289,700.00. Stage 3 homes, consisting of 24 homes are being sold at $295,700.00. To date, there are only a few homes remaining. Stage 3 homes are scheduled for completion by September 2015. Please check with The Real Estate Professionals to make sure the property you select is available as there may be a delay in posting sales to the internet.

Click here for Department of Public Works street address for each home.

Financing

The homes at Paradise Meadows will be marketed in phases with the initial phase consisting of 17 homes priced at $280,700.00. Terms of the purchase will include a $5,000.00 earnest money deposit ($500.00 non-refundable) and a requirement for either evidence of a funding source for cash buyers or a conditional loan approval from an approved lending institution for those financing their purchase.

Now is the time to buy! Interest rates continue to remain at historical lows. The mortgage market remained fairly constant during the previous three years, making it attractive for owner occupants and investors alike to purchase properties. Buying a home is still an affordable alternative to renting, as well as a sound investment opportunity. We anticipate mortgage rates to remain fairly constant as we move into the development and sale of Paradise Meadows. Guam lenders have different loan programs to assist both owners and investors looking to finance the purchase of a Paradise Meadows home. Based on the proposed purchase price, monthly payments will remain affordable despite any nominal increases in interest rates during the coming year.

In addition to the standard Conventional Freddie Mac and VA loan programs, buyers for Paradise Meadows will have two additional financing alternatives to consider. Based on the project's physical location in Yigo, first time homeowners should meet with their favorite banker to discuss 100% financing under the USDA Rural Housing guaranty program.

In addition to conventional financing programs that require 20% down payments, some banks may now offer qualified borrowers PMI (Private Mortgage Insurance) which allows lenders to loan up to 90% of the purchase price, reducing the need for large down payments. These two products alone, coupled with the purchase price of $289,700.00, will open the housing market to buyers who otherwise might not be able to buy a home based on down payment requirements.

First Hawaiian Bank is offering 95% financing under the PMI program. Please call one of their mortgage specialists for additional information on this program.

For those needing down payment assistance, check with Guam Housing Corporation for special loan programs (CAHAT) and grants for closing costs.

The military on Guam

Despite the delay in the much anticipated military buildup, the military on Guam will continue to be a driving force within the real estate market during the next 5 - 10 years, regardless of its size or scope. The original time line for this buildup has been the subject of constant discussion and posturing by the US government, military officials, and the Japanese government. The consensus is that prolonging and extending the timeline well beyond its original 2014 timeframe will provide for a better and more sustainable buildup, one that Guam's infrastructure and community will be able to accommodate.

Due to the extension of the typical tour of duty from two years to three years, there is an increasing number of military personnel looking to buy instead of rent. US military personnel receive a housing/rental allowance as well as a utility allowance for off base living. Currently the minimum housing allowance is $1,918.00/month for a single individual (Enlisted E3), while the minimum utility allowance is $755.00/month. The housing allowance increases to a maximum of $2,700.00/month for a married individual (Officer 06). Military personnel may convert their housing rental allowance into a mortgage payment in the event they decide to purchase a home on Guam during their tour of duty. Coupled with the availability of 100% financing through the VA, military personnel easily qualify for projects priced under $300,000.00.

Based on the location (less than 5 minutes from the front gate of Andersen Air Force Base) and the proposed pricing structure of Paradise Meadows, it is a logical alternative to base housing for those military members wanting to own or for investors wanting to rent to military personnel who desire quality off-base housing.

Contact Information

If you are interested in joining the Paradise family, please give us a call at (671) 647-7371, (671) 488-7371, or email at chris@homerep.net for more information on Guam's newest residential community.