Looks like the military buildup is back "on" again. The President has signed the military spending bill, which includes money for the Guam buildup, so it looks like after 7 years of anticipation, we'll start seeing some changes on the island.

There are a lot of differing opinions about what all this activity will mean for Guam. From a personal standpoint, I like the island just the way it is. I did my time in big cities and I like my quiet island, I hope it doesn't change. I've been here for 10 years, so needless to say, I like it here.

But this is a real estate blog, so let's talk about what it's going to mean to the market. Bottom line is that when demand goes up, and it's going to, prices are soon to follow. I don't build rockets in my spare time, but anyone can see that things here are going to get more and more expensive, particularly in the housing market.

At present, the most recent statistics say the average price of a single family "stand alone house" is about $250k, with condominiums averaging just under $190k. And we're already facing a housing shortage for military personnel. There just aren't enough places available to satisfy the military market already. There's some building going on, but only time will tell if what's being built will satisfy the demand.

So buying now seems to make a lot of sense. Interest rates are reasonable and getting in early is the best way to protect yourself from the prices to come. If you're renting now, take a serious look at buying a place, even if it's smaller than you want and doesn't have all the amenities on your list. Getting into a place that you can make work can help you keep pace when the market goes up. Otherwise you could be left behind, and those less expensive places that you didn't jump on before, may be financially out of reach in a couple years.

If you'd like to talk over the pros and cons of buying, give us a call anytime at 671-482-2104 or 671-482-2100 or click on "contact us" on our website. We can arrange for a no obligation (an no credit check) prequalification so you can see where you stand.