Gree ngs to all for the month of October! While things were a bit busy in August and September, October slowed down a bit, by way of showings and inquiries. We did however, list 8 new proper es on the market; signed up 6 new offers; 3 new rental proper es and had 6 price reduc ons. This does not include ongoing nego a ons on other lots currently on our books. While the market has more or less been slow across the board, price‐wise, there con nues to be an increase in number of proper es coming on the market for sale. Not wan ng to sound like a broken record; but with a con nued increase in proper es for sale, prices con nue to drop. People have been asking us whether the market will come right in the new year. It’s unfortunate, but we won’t see any posi ve changes for property owners un l maybe 2014. With that in mind, if you are a buyer and would love to own your own piece of land, then now is the me to start looking, and talking with your banker. The website con nues to get a lot of traffic, and most of the offers now on the table are from overseas Samoans this past month. The Head of State’s Consent con nues to be a hindering factor. We have had a few sales fall through due to the delays in this process, which le both the sellers and the buyers frustrated and pull out. If you live overseas and are looking to invest, please note that you will have to go through a 3 month wait; and if you are a seller who ends up selling to an overseas buy‐er, you must be prepared to allow this me to the buyer before they can se le. What we have no ced in recent cases is that sellers ask for 20% deposit if they are to wait that long for se lement. If you are Samoan, there will be no issues with you ge ng the consent. It is not a ma er of whether you get the consent or not; It is a ma er of when. We have some great deals coming in the month of November, but also s ll some good ones this month. You can own your own 1/2acre lot for $65k in Falemauga Heights or a nice 1 acre lot in Tiapapata for $229k!

We are selling an acre with a swimming pool for $329k! While similar vacant acre blocks are valued at $400k in Tiapapata, you could own this great property for less the amount and you get an in‐ground swimming pool in the bargain for free! Owner circumstances have changed and she’s willing to go below market value. A great deal, so I would start inquiring now if I were you. Same goes for the 1 acre at $229k! These are some great buys now, so make sure to view in case this is the property you’ve been wai ng for! You looking for commercial? Then check out this 1 acre in the Vaitele industrial area for $580k! S ll want something more? Then come view this commercial lot with buildings at Levili. Property is just under a 1/2acre in size; has a warehouse storage sec on; a 2 bedroom self‐contained accommoda on upstairs and a set of offices on the side. Seller is overseas bound. Property valued at $1.3m but he’s willing to let it go now for $850k! Almost half a million tala price reduc on! A great save! Purely on an update basis of areas which have been selling recently, as well as price range preferences, please refer to following. If it’s a vacant lot, people have been looking at proper es between $40k to as high as $200k. For land with a home/building, people have been buying in the $135k to $400k range. Commercial lots have varied between $450k to as high as $2.5m, and there have been very few buyers in this price range. Areas of preference which have sold this year are Tiavi, Aleisa, Siusega, Vailele, Vaitele, Moamoa, Vailima, Papaloloa, Malololelei, Palisi, Vaivase, Nuu, Ululoloa, Vaoala, Tiapapata, Lotopa, Vaimea and Togafuafua. While inquiries have come through on other areas, the above are the most sought‐a er areas thus far, with price being the major contribu ng factor that seals the deal! November is looking like its going to be busy, so stay tuned for more updates next month! All the best, stay safe and will catch you up on more real estate updates soon! Tofa and God bless!!

Your October 2012 Real Estate Update!

Some Tips for the First Home Buyer in Samoa!  For the first‐ me buyer, you probably have no idea how the overall purchasing process works or how to make sure you’re making a smart decision to purchase. And you’ll probably be very surprised to learn much work it really is just to buy a home. To get you started in the right direc on, and this is just a start, here are a few ps that you should consider.

Get lender‐qualified and find a good real estate agent. To get started, you should talk to your banker to see what price  range you can  realis cally afford.  Interview and meet with a  real estate agent  to find  the  right person to represent you in your transac on. Once qualified and you have your price range es mate on hand, you’ll be able  to  spend your  me  shopping  for  something you  can afford. But  remember...just because  the bank says you can qualify for a certain amount, that doesn't mean you should spend that amount. Make sure you can actually afford the monthly payment, along with your other bills. 

 

Make sure you plan to be a  long‐term owner.     Once you know your price range, and have looked at some proper es, its  me to make sure that you believe you can find a property that you will own for a minimum of five years. If your price range doesn’t match where you want to live, you’d be be er off wai ng un l you have sufficient funds to afford it. Reason for this is because, a owner really doesn’t earn any equity, on average, in a property  for at  least five years. That’s  the general breakeven point, and you really need  to shoot  for  longer than that as an ownership strategy.  The truth is, long‐term real estate ownership can be a great way to earn wealth, but short‐term ownership usually will diminish your wealth.

Educate yourself. Buying property is probably the most complex, riskiest and expensive thing you will ever do. Do your homework. Talk to real estate owners, check out online material and read some books to learn what to avoid  in  the buying process. The more you educate yourself,  the be er  the chances  that when  things go wrong—they will only be minor issues, not major headaches.

Find a nice affordable property.   The real gems in real estate are the nice, decent shape, moderately priced, boring houses that are within your budget. Most buyers stretch to purchase the most expensive property they can afford. What  if you  lose your  job? How about  saving  some money  for your  re rement? You want your home to be an asset you can afford, not a  liability that  leaves you with no addi onal funds over the cost of homeownership.  

Take your  me. Realis cally  it should take you six months or  longer to buy a nice quality property that will add to your long term wealth. Make sure you have a full understanding of what the marketplace has to offer in your price range and that you know what you’re doing. 

Steps to buying and owning a property in Samoa!  1. View a property and if certain, you need to sign a wri en offer. 2. When making an offer, you need to put down a 10% deposit as considera on immediately. 3. You will need to engage the services of a local lawyer/solicitor to handle legal documents for you. 4. If you have lived overseas for 3 years or more before buying, you will need to apply for a Head of State’s

Consent, which your lawyer/solicitor will do for you. This process can take up to 3 months to process. 5. If there is a mortgage/lien on the property you are purchasing, your lawyer will make sure this is discharged

before funds are paid/disbursed to Seller. 6. If you are buying condi onal on finance, your lawyer will have to prepare a Deed of Mortgage for the

property, which in turn will be registered to Mortgagor/Bank/Lender. 7. Once all funds and tle documents are in place and exchanged, you have to pay stamp duty to government

as well as registra on fees to get your new tle on land registered. Your lawyer does all of this for you. Always remember that you have to be a Samoan Ci zen, Resident or of Samoan Descent to buy and own property in Samoa; or under a locally registered company, which is 75%‐owned by a local Samoan. If you need more informa on, please let us know.

Getting Ready to Invest!!

Priced for QUICK SALE! How fast can you DIAL?

TIAPAPAPTA: We are throwing in the pool at no cost!! This excep onal 1 acre lot in upmarket Tiapapapata has just been reduced at a low low price. Owner circumstances have changed and they need to sell! While vacant acre lots are selling close to $400k, you get to own this great property with a swimming pool for a ridiculously compe ve price. For viewing or more informa on, give us a call! This can be yours today!! Now SAT$325,000 but open to cash offers!

TIAPAPATA: Elevated 1 acre lot in Tiapapata now selling at half its actual market value. Owner keen to move on with other investments and willing to sell bellow market to make this happen. You a buyer? Then this is worth looking at. This 1 acre is less the value of a half acre in the area. Property is already cleared, landscaped and located in cooler living surroundings. Enjoy the ambience and serenity. Now a whopping SAT$229,000!

TIAPAPATA: Tiapapata is the HOT place to be! And I don’t mean the weath‐er. Owners in the area are now compe ng for your invest‐ment. This excep onal 1/2acre lot is elevated and offers some great mountain and ocean views. Also comes with its own fresh water spring on it. One lot in from main Lamosa Road in Tiapapata. Great neighbours, great features, great price! Call now and make an offer! Now SAT$250,000 ONO!

ULULOLOA HEIGHTS: Entertain, relax, exercise, and enjoy all the benefits of owning a home with a swimming pool! Sprawling and built for modern comfort! This 4 bedroom home is selling on a 1/2acre with ocean views. The ideal setup as the days con nue to get ho er and ho er. It’s more than a home...its a lifestyle! Designed for family living, so bring your family to view today! Now SAT$825,000 but open to cash offers!

LEVILI/APIA PARK: Part of a commercial compound, this excep onal setup is selling on 1937m2 of prime investment land. Building is furnished with warehousing space, offices on the side and a 2‐bedoom self‐contained unit upstairs. Owner moving overseas permanently and has instructed us to sell! Property earns income and has great business poten al. Located behind the Apia Park Stadium with access from Levili Road. A business opportunity not to be missed. Now SAT$850,000 ONO!

Competitive Market..Very Negotiable Vendors!!!

Falemauga Heights Falemauga Heights

Vailima Vailima

Vaoala Vaoala

Vaoala

Malololelei Tiapapata

Vaoala

Siusega

1 2

3 4

5 6

7 8

9 10 11

1. 3 Bedroom on a 1/4 acre lot. SAT$395,000!

2. 1 Bedroom on a 1 acre lot. SAT$400,000!

3. 3 Bedroom on a 1/4 acre lot. SAT$430,000!

4. 4 Bedroom on a 1 & 1/4 acre lot. SAT$555,000!

5. 4 Bedrooom home plus extra fale on close to 1 & 1/2acre lot. SAT$2,250,000!

6. 5 Bedroom with a separate studio self contained unit on 1/2 acre lot. SAT$930,000!

7. 3 Bedroom with attached self con-tained unit on 1 acre lot. SAT$995,000!

8. 3 Bedroom plus 2 Bedroom homes on 1 acre lot. SAT$999,000!

9. 4 Bedroom home on a 1/4acre lot. SAT$550,000! 10. 3 Bedroom home on a 1/4acre lot. SAT$600,000! 11. 3 Bedroom home on a 1/4acre lot. SAT$335,000!

This newsletter update is brought to you by Rosita Brighouse-Slaven, Managing Director of Samoa Realty Ltd

More Homes 4 Sale!

For any Rental Inquiries, please contact our offices on home@samoarealty.ws 

Faatoia: 3 bedroom home on a lot close to a 1/2acre in size. Needs doing up so open to reasonable offers. Price: SAT$250,000 ONO!! 

Siusega: 2 bedroom home on a 1/4acre lot down a small easement. Home is fenced and needs some work. Price: SAT$200,000 ONO!! 

Siusega: 6 Bedroom home with a work‐shop, both selling on a 1/2acre lot that has two frontages. Price: SAT$450,000..Great Buy!! 

Vaitele/Talimatau: 4 bedroom fixer upper at the corner bend opposite Horse Racing Course. Great loca on!! Price: SAT$205,000 ONO!! 

Siusega: 3 bedroom family home that needs no work! Just move in and enjoy. On a 1/4acre lot. Price: SAT$250,000 ONO!! 

Moamoa: 7 bedroom family home on a 1/4acre. Close to town living and heaps of space for the family! Price: SAT$377,000 ONO!! 

Aleisa: 3 bedroom home on 3+ acres in serene Aleisa. Worth visi ng today!. A real great buy now! Price: SAT$480,000 ONO!! 

Lotopa: 3 bedroom on a fully fenced and landscaped 1/4acre lot! Cosy family home close to town! Price: SAT$360,000 ONO!! 

Afiamalu: Two homes on a 1 acre sec on that fronts main Cross Island Rd. Solid homes that need some TLC. Price: SAT$440,000 ONO!!