801-205-3500 or 801-205-1600 Gales@UtahRealty.us
Veterans Day 11-11-19

Veterans Day 11-11-19

 

A mother and her son are hugging in their living room. The mother is wearing a military uniform.

Today, on Veterans Day, we salute those who have served our country in war or peace, and we thank them for their sacrifice.

This year marks the 75th anniversary of VA Home Loan Benefit offerings through the Servicemen’s Readjustment Act, also known as the GI Bill. Since 1944, this law has created opportunities for those who have served our country, ranging from vocational training to home loans.

Facts About VA Home Loans:

  • Nearly 24 million home loans have been guaranteed by the Veterans Administration.
  • Nearly 82% of VA home loans are made with no down payment.
  • The VA also provides grants to help seriously disabled Veterans purchase, modify, or construct a home to meet their needs. Last year the VA provided 2,000 grants totaling $104 million.

Benefits of a VA Home Loan:

  1. No down payment
  2. No Private Mortgage Insurance*
  3. Lower credit score requirements
  4. Limitation on closing costs
  5. Lower average interest rates

*More information on VA Home Loan Fees

 Bottom Line

The best thing you can do today to celebrate Veterans Day is to share this information with those who can benefit from these opportunities. For more information, or to find out how to qualify to use a VA Home Loan Benefit, let’s get together to navigate through the process. Thank you for your service!

 

 

 

 

 

 

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
What Is the Cost of Waiting Until Next Year to Buy?

What Is the Cost of Waiting Until Next Year to Buy?

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Protected Class

Protected Class

Things you should not have your clients put in a letter to a buyer or seller.

Protected Class

A group of people with a common characteristic who are legally protected from employment discrimination on the basis of that characteristic. Protected classes are created by both federal and state law.
Federal protected classes include:
  • Race.
  • Color.
  • Religion or creed.
  • National origin or ancestry.
  • Sex.
  • Age.
  • Physical or mental disability.
  • Veteran status.
  • Genetic information.
  • Citizenship.
    More…

    Discrimination is treating people differently. Discrimination is unlawful when it is based on a personal trait or characteristic protected under Human Rights Law. The traits that are protected under Human Rights Law are called Protected Classes. It is unlawful to discriminate against a member of a protected class when it comes to housing, employment, public accommodation, credit and lending, certain educational institutions, and volunteer firefighting organizations.

    Rights
    All citizens should be aware of their rights under Human Rights Law, including their right to file complaints against alleged acts of discrimination. In order for an alleged discriminatory act to be illegal, there must be a connection between what happened to you and the trait/characteristic protected by the Human Rights Law. Making a Human Rights complaint is free for the person making the complaint.

    Responsibilities
    If you are an employer, housing professional, lending institution, or business, it is important to understand your responsibilities under the Human Rights Law. Awareness of the laws can help you create equitable environments in our community, as well as prevent costly and time-consuming legal proceedings.

    Descriptions of Protected Classes


    Age

    The Human Rights Law protects person(s) age 18 or older. A person cannot be discriminated against on the basis of his or her age in the area of employment or housing. Age discrimination usually occurs in employment when older workers are fired, replaced by younger workers, or treated differently than younger colleagues. Employees cannot be forced to retire except for very limited situations relative to tenured professors and certain highly paid executives.


    Creed

    Relates to a person’s religious beliefs. The wearing of religious garb and the observance of religious holidays and practices are protected under the Human Rights Law.


    Race & Color

    Race and color pertains to a person’s racial background and/or skin color.


    Sex

    Discrimination on the basis of sex includes unequal treatment in the workplace, sexual harassment, and pregnancy discrimination. Under the Human Rights Law, men and women are entitled to equal pay, benefits, working conditions, and seniority rights; men and women are entitled to be free from unwelcome sexual advances, requests for sexual favors, physical or verbal conduct of a sexual nature, and a hostile work environment; and pregnant women are guaranteed the right to work, and to enjoy the same medical, vacation and disability leave policies as non-pregnant co-workers. Although sex discrimination occurs most frequently in the workplace, it also occurs in areas concerning housing, credit, and public accommodations.


    Sexual Orientation

    The Sexual Orientation Non-Discrimination Act of January 16, 2003, amends the New York State Human Rights Law to prohibit actual or perceived sexual orientation discrimination in places of public accommodation, non-sectarian educational institutions, credit transactions, housing, commercial property, and in obtaining employment. Sexual Orientation is defined as gay, lesbian, bisexual, heterosexual, and asexual.


    National Origin

    Is based on one’s national group and includes one’s ancestry.


    Marital Status

    A person may not be discriminated against on the basis of whether or not he or she is married, divorced, single, separated or widowed.


    Domestic Violence Victim Status

    The New York State Human Rights Law was amended effective July 7, 2009 to provide protection from employment discrimination for victims of domestic violence. The Human Rights Law defines a domestic violence victim as an individual who is a victim of an act, which would constitute a family offense under N.Y. Family Court Act § 812. It is unlawful to discriminate against a domestic violence victim in employment and housing.


    Disability

    A disability is a physical, mental, or medical impairment resulting from anatomical, physiological, or neurological conditions that prevent the exercise of a normal bodily function or is demonstrable by clinical or laboratory diagnostics techniques. If a person has a record of a disability or is perceived by others to have a disability, whether or not the person does, he or she is also protected under the Human Rights Law. Under the jurisdiction of employment, a person is protected when the disability does not interfere with the ability to reasonably perform job duties. It is illegal to discriminate against people who have, are perceived to have, perceived to be at risk for HIV/AIDS.


    Military Status

    Discrimination on the basis of military status involves denying equal employment opportunity to any person because of that person’s past, current or future membership, service or obligation in a uniformed service.


    Arrest & Conviction

    It is unlawful for any person, agency, bureau, corporation or association, including the State and any political subdivision thereof, to deny employment because of an individual’s conviction record, where such denial is in violation of Article 23-a of the Correction Law. A potential employer cannot make any inquiry about an arrest record, but can inquire if a potential employee has been convicted of a crime.


    Predisposing Genetic Characteristics

    Employment discrimination on the basis of genetic predisposition or carrier status is prohibited by the Human Rights Law. The legislature added this protection to the law in 1996.


    Familial Status (in housing only)

    Discrimination in the rental, purchase, or lease of housing on the basis of familial status is prohibited. Familial status means any person who is pregnant, has a child, or is in the process of securing legal custody of any individual under the age of 18; or one or more individuals under the age of 18 living with a parent, a legal guardian, or a designee of a parent.


    Domestic Workers (in employment only)

    It is unlawful for an employer to engage in unwelcome sexual advances, requests for sexual favors, or other verbal or physical conduct of a sexual nature to a domestic worker when: (i) submission to such conduct is made either explicitly or implicitly a term or condition of an individual’s employment; (ii) submission to or rejection of such conduct by an individual is used as the basis for employment decisions affecting such individual; or (iii) such conduct has the purpose or effect of unreasonably interfering with an individual’s work performance by creating an intimidating, hostile, or offensive working environment.

What Is the Cost of Waiting Until Next Year to Buy?

What Is the Cost of Waiting Until Next Year to Buy?

What Is the Cost of Waiting Until Next Year to Buy? Some Highlights: The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices and interest rates were to increase over a period of time. Freddie Mac forecasts interest rates will...

Is Your House “Priced to Sell Immediately”?

Is Your House “Priced to Sell Immediately”?

Is Your House “Priced to Sell Immediately”? In today’s real estate market, more houses are coming to market every day. Eager buyers are searching for their dream homes, so setting the right price for your house is one of the most important things you can do. According...

What Will Home Prices Look Like Over the Next Few Years

What Will Home Prices Look Like Over the Next Few Years? September 19th, 2019 Home prices will continue to rise throughout 2023. This means that now is a great time to sell! If you're thinking of listing your home, let's get together to determine your best move.

4 Reasons to Sell This Fall In Utah With Utah Realty

4 Reasons to Sell This Fall In Utah With Utah Realty

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Three Benefits of Growing Equity in Your Home

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American Confidence in Housing at an All-Time High

American Confidence in Housing at an All-Time High

  Fannie Mae just released the July edition of their Home Purchase Sentiment Index (HPSI). The HPSI takes information regarding consumers’ confidence in the real estate market from Fannie Mae’s National Housing Survey and condenses it into a single number. Therefore,...

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How to Increase Your Equity Over The Next 5 Years

How to Increase Your Equity Over the Next 5 Years Many of the questions currently surrounding the real estate industry focus on home prices and where they are heading. The most recent Home Price Expectation Survey (HPES) helps target these projected answers. Here are...

Utah Realty Presents VA Home Loans by the Numbers

Utah Realty Presents VA Home Loans by the Numbers

Utah Realty Presents VA Home Loans by the Numbers

VA Home Loans by the Numbers [INFOGRAPHIC] | MyKCM

Some Highlights:

  • The Veterans Administration (VA) Home Loan is a benefit that is available to more than 22 million veterans and 2 million active duty service members to help them achieve the dream of homeownership.
  • In 2018, $161 billion was loaned to veterans and their families through the program.
  • In the same year, the average loan amount was $264,197 and 610,513 loans were guaranteed.

Happy Veterans Day November 11th 2019

Honoring The Brave Men and Women That Defend Our Country! 

What Is the Cost of Waiting Until Next Year to Buy?

What Is the Cost of Waiting Until Next Year to Buy?

What Is the Cost of Waiting Until Next Year to Buy? Some Highlights: The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices and interest rates were to increase over a period of time. Freddie Mac forecasts interest rates will...

Is Your House “Priced to Sell Immediately”?

Is Your House “Priced to Sell Immediately”?

Is Your House “Priced to Sell Immediately”? In today’s real estate market, more houses are coming to market every day. Eager buyers are searching for their dream homes, so setting the right price for your house is one of the most important things you can do. According...

What Will Home Prices Look Like Over the Next Few Years

What Will Home Prices Look Like Over the Next Few Years? September 19th, 2019 Home prices will continue to rise throughout 2023. This means that now is a great time to sell! If you're thinking of listing your home, let's get together to determine your best move.

4 Reasons to Sell This Fall In Utah With Utah Realty

4 Reasons to Sell This Fall In Utah With Utah Realty

Utah Realty 4 Reasons to Sell This Fall Some Highlights: Buyers are active in the market and often competing with one another for available listings. Housing inventory is still under the 6-month supply found in a normal housing market. Homes are still selling...

Three Benefits of Growing Equity in Your Home

Three Benefits of Growing Equity in Your Home

The Benefits of Growing Equity in Your Home Over the last couple of years, we’ve heard quite a bit about rising home prices. Today, expert projections still forecast continued growth, just at a slower pace. One of the often-overlooked benefits of rising home prices is...

American Confidence in Housing at an All-Time High

American Confidence in Housing at an All-Time High

  Fannie Mae just released the July edition of their Home Purchase Sentiment Index (HPSI). The HPSI takes information regarding consumers’ confidence in the real estate market from Fannie Mae’s National Housing Survey and condenses it into a single number. Therefore,...

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How to Increase Your Equity Over The Next 5 Years

How to Increase Your Equity Over the Next 5 Years Many of the questions currently surrounding the real estate industry focus on home prices and where they are heading. The most recent Home Price Expectation Survey (HPES) helps target these projected answers. Here are...

The #1 Reason to List Your House in the Winter

The #1 Reason to List Your House in the Winter

The #1 Reason to List Your House in the Winter

The #1 Reason to List Your House in the Winter | MyKCM

Many sellers believe spring is the best time to put their homes on the market because buyer demand traditionally increases at that time of year. What they don’t realize is if every homeowner believes the same thing, then that’s when they’ll have the most competition.

So, what’s the #1 reason to list your house in the winter? Less competition.

Housing supply traditionally shrinks at this time of year, so the choices buyers have will be limited. The chart below was created using the months supply of listings from the National Association of Realtors.The #1 Reason to List Your House in the Winter | MyKCMAs you can see, the ‘sweet spot’ to list your house for the most exposure naturally occurs in the late fall and winter months (November – January). 

Temperatures aren’t the only thing that heats up in the spring – so do listings!The #1 Reason to List Your House in the Winter | MyKCMIn 2018, listings increased from December to May. Don’t wait for these listings and the competition that comes with them to come to the market before you decide to list your house.

Added Bonus: Serious Buyers Are Out in the Winter

At this time of year, purchasers who are serious about buying a home will be in the marketplace. You and your family will not be bothered and inconvenienced by mere ‘lookers.’ The lookers are at the mall or online doing their holiday shopping.

 Bottom Line

If you’ve been debating whether or not to sell your house and are curious about market conditions in your area, let’s get together to determine the best time to list your house.

What Is the Cost of Waiting Until Next Year to Buy?

What Is the Cost of Waiting Until Next Year to Buy?

What Is the Cost of Waiting Until Next Year to Buy? Some Highlights: The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices and interest rates were to increase over a period of time. Freddie Mac forecasts interest rates will...

Is Your House “Priced to Sell Immediately”?

Is Your House “Priced to Sell Immediately”?

Is Your House “Priced to Sell Immediately”? In today’s real estate market, more houses are coming to market every day. Eager buyers are searching for their dream homes, so setting the right price for your house is one of the most important things you can do. According...

What Will Home Prices Look Like Over the Next Few Years

What Will Home Prices Look Like Over the Next Few Years? September 19th, 2019 Home prices will continue to rise throughout 2023. This means that now is a great time to sell! If you're thinking of listing your home, let's get together to determine your best move.

4 Reasons to Sell This Fall In Utah With Utah Realty

4 Reasons to Sell This Fall In Utah With Utah Realty

Utah Realty 4 Reasons to Sell This Fall Some Highlights: Buyers are active in the market and often competing with one another for available listings. Housing inventory is still under the 6-month supply found in a normal housing market. Homes are still selling...

Three Benefits of Growing Equity in Your Home

Three Benefits of Growing Equity in Your Home

The Benefits of Growing Equity in Your Home Over the last couple of years, we’ve heard quite a bit about rising home prices. Today, expert projections still forecast continued growth, just at a slower pace. One of the often-overlooked benefits of rising home prices is...

American Confidence in Housing at an All-Time High

American Confidence in Housing at an All-Time High

  Fannie Mae just released the July edition of their Home Purchase Sentiment Index (HPSI). The HPSI takes information regarding consumers’ confidence in the real estate market from Fannie Mae’s National Housing Survey and condenses it into a single number. Therefore,...

How to Increase Your Equity Over The Next 5 Years

How to Increase Your Equity Over The Next 5 Years

How to Increase Your Equity Over the Next 5 Years Many of the questions currently surrounding the real estate industry focus on home prices and where they are heading. The most recent Home Price Expectation Survey (HPES) helps target these projected answers. Here are...

Don’t Get Spooked by the Real Estate Market!

 

Have a Hauntingly Good Halloween!

 

Having an agent to help guide you is key in today’s complex housing market. Let’s connect so you don’t get spooked by the buying or selling process!

Having a Master Certified Negotiation Expert is even better!

 Marty Gale Utah Realty MCNE

What Is the Cost of Waiting Until Next Year to Buy?

What Is the Cost of Waiting Until Next Year to Buy?

What Is the Cost of Waiting Until Next Year to Buy? Some Highlights: The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices and interest rates were to increase over a period of time. Freddie Mac forecasts interest rates will...

Is Your House “Priced to Sell Immediately”?

Is Your House “Priced to Sell Immediately”?

Is Your House “Priced to Sell Immediately”? In today’s real estate market, more houses are coming to market every day. Eager buyers are searching for their dream homes, so setting the right price for your house is one of the most important things you can do. According...

What Will Home Prices Look Like Over the Next Few Years

What Will Home Prices Look Like Over the Next Few Years? September 19th, 2019 Home prices will continue to rise throughout 2023. This means that now is a great time to sell! If you're thinking of listing your home, let's get together to determine your best move.

4 Reasons to Sell This Fall In Utah With Utah Realty

4 Reasons to Sell This Fall In Utah With Utah Realty

Utah Realty 4 Reasons to Sell This Fall Some Highlights: Buyers are active in the market and often competing with one another for available listings. Housing inventory is still under the 6-month supply found in a normal housing market. Homes are still selling...

Three Benefits of Growing Equity in Your Home

Three Benefits of Growing Equity in Your Home

The Benefits of Growing Equity in Your Home Over the last couple of years, we’ve heard quite a bit about rising home prices. Today, expert projections still forecast continued growth, just at a slower pace. One of the often-overlooked benefits of rising home prices is...

American Confidence in Housing at an All-Time High

American Confidence in Housing at an All-Time High

  Fannie Mae just released the July edition of their Home Purchase Sentiment Index (HPSI). The HPSI takes information regarding consumers’ confidence in the real estate market from Fannie Mae’s National Housing Survey and condenses it into a single number. Therefore,...

How to Increase Your Equity Over The Next 5 Years

How to Increase Your Equity Over The Next 5 Years

How to Increase Your Equity Over the Next 5 Years Many of the questions currently surrounding the real estate industry focus on home prices and where they are heading. The most recent Home Price Expectation Survey (HPES) helps target these projected answers. Here are...

Taking the Fear Out of the Mortgage Process

Taking the Fear Out of the Mortgage Process

Taking the Fear Out of the Mortgage Process

Taking the Fear Out of the Mortgage Process | MyKCM

A considerable number of potential buyers shy away from the real estate market because they’re uncertain about the buying process – particularly when it comes to qualifying for a mortgage.

For many, the mortgage process can be scary, but it doesn’t have to be! 

In order to qualify in today’s market, you’ll need a down payment (the average down payment on all loans last year was 5%, with many buyers putting down 3% or less), a stable income, and a good credit history.

Once you’re ready to apply, here are 5 easy steps Freddie Mac suggests to follow:

  1. Find out your current credit history and credit score– Even if you don’t have perfect credit, you may already qualify for a loan. The average FICO Score® for all closed loans in September was 737, according to Ellie Mae.
  2. Start gathering all of your documentation– This includes income verification (such as W-2 forms or tax returns), credit history, and assets (such as bank statements to verify your savings).
  3. Contact a professional– Your real estate agent will be able to recommend a loan officer who can help you develop a spending plan, as well as help you determine how much home you can afford.
  4. Consult with your lender– He or she will review your income, expenses, and financial goals in order to determine the type and amount of mortgage you qualify for.
  5. Talk to your lender about pre-approval– A pre-approval letter provides an estimate of what you might be able to borrow (provided your financial status doesn’t change) and demonstrates to home sellers that you’re serious about buying.

Bottom Line

Do your research, reach out to professionals, stick to your budget, and be sure you’re ready to take on the financial responsibilities of becoming a homeowner.

What Is the Cost of Waiting Until Next Year to Buy?

What Is the Cost of Waiting Until Next Year to Buy?

What Is the Cost of Waiting Until Next Year to Buy? Some Highlights: The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices and interest rates were to increase over a period of time. Freddie Mac forecasts interest rates will...

Is Your House “Priced to Sell Immediately”?

Is Your House “Priced to Sell Immediately”?

Is Your House “Priced to Sell Immediately”? In today’s real estate market, more houses are coming to market every day. Eager buyers are searching for their dream homes, so setting the right price for your house is one of the most important things you can do. According...

What Will Home Prices Look Like Over the Next Few Years

What Will Home Prices Look Like Over the Next Few Years? September 19th, 2019 Home prices will continue to rise throughout 2023. This means that now is a great time to sell! If you're thinking of listing your home, let's get together to determine your best move.

4 Reasons to Sell This Fall In Utah With Utah Realty

4 Reasons to Sell This Fall In Utah With Utah Realty

Utah Realty 4 Reasons to Sell This Fall Some Highlights: Buyers are active in the market and often competing with one another for available listings. Housing inventory is still under the 6-month supply found in a normal housing market. Homes are still selling...

Three Benefits of Growing Equity in Your Home

Three Benefits of Growing Equity in Your Home

The Benefits of Growing Equity in Your Home Over the last couple of years, we’ve heard quite a bit about rising home prices. Today, expert projections still forecast continued growth, just at a slower pace. One of the often-overlooked benefits of rising home prices is...

American Confidence in Housing at an All-Time High

American Confidence in Housing at an All-Time High

  Fannie Mae just released the July edition of their Home Purchase Sentiment Index (HPSI). The HPSI takes information regarding consumers’ confidence in the real estate market from Fannie Mae’s National Housing Survey and condenses it into a single number. Therefore,...

How to Increase Your Equity Over The Next 5 Years

How to Increase Your Equity Over The Next 5 Years

How to Increase Your Equity Over the Next 5 Years Many of the questions currently surrounding the real estate industry focus on home prices and where they are heading. The most recent Home Price Expectation Survey (HPES) helps target these projected answers. Here are...

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