How Changing Mortgage Rates Can Affect You

How Changing Mortgage Rates Can Affect You

How Changing Mortgage Rates Can Affect You

The 30-year fixed mortgage rate has been bouncing between 6% and 7% this year. If you’ve been on the fence about whether to buy a home or not, it’s helpful to know exactly how a 1%, or even a 0.5%, mortgage rate shift affects your purchasing power.

The chart below helps show the general relationship between mortgage rates and a typical monthly mortgage payment:

Even a 0.5% change can have a big impact on your monthly payment. And since rates have been moving between 6% and 7% for a while now, you can see how it impacts your purchasing power as rates go down.

What This Means for You

You may be tempted to put your homebuying plans on hold in hopes that rates will fall. But that can be risky. No one knows for sure where rates will go from here, and trying to time them for your benefit is tough. Lisa Sturtevant, Housing Economist at Bright MLS, explains:

“It is typically a fool’s errand for a homebuyer to try to time rates in this market . . . But volatility in mortgage rates right now can have a real impact on buyers’ monthly payments.”

That’s why it’s critical to lean on your expert real estate advisors to explore your mortgage options, understand what impacts mortgage rates, and plan your homebuying budget around today’s volatility. They’ll also be able to offer advice tailored to your specific situation and goals, so you have what you need to make an informed decision.

Bottom Line

Your ability to buy a home could be impacted by changing mortgage rates. If you’re thinking about making a move, let’s connect so you have a strong plan in place.

Marty Gale

Buy or Sell with Marty Gale

"Its The Experience"

Principal Broker and Owner of Utah Realty™

Licensed Since 1986

CERTIFIED LUXURY HOME MARKETING SPECIALIST (CLHM)

PSA  (Pricing Strategy Advisor)

General Contractor 2000 (in-active)
e-pro (advanced digital marketing) 2001
Certified Residential Specialist 2009

Certified Negotiation Expert 2014

Master Certified Negotiation Expert 2014
Certified Probate Specialist Since 2018

Senior Real Estate Specialist

Certified Divorce Specialist CDS

 

Contact me! 

 

 

Facts About Closing Costs

Facts About Closing Costs

Facts About Closing Costs

Some Highlights

Marty Gale

Buy or Sell with Marty Gale

"Its The Experience"

Principal Broker and Owner of Utah Realty™

Licensed Since 1986

CERTIFIED LUXURY HOME MARKETING SPECIALIST (CLHM)

PSA  (Pricing Strategy Advisor)

General Contractor 2000 (in-active)
e-pro (advanced digital marketing) 2001
Certified Residential Specialist 2009

Certified Negotiation Expert 2014

Master Certified Negotiation Expert 2014
Certified Probate Specialist Since 2018

Senior Real Estate Specialist

Certified Divorce Specialist CDS

 

Contact me! 

 

 

Avoid the Rental Trap in 2023

Avoid the Rental Trap in 2023

Avoid the Rental Trap in 2023

Avoid the Rental Trap in 2023 | MyKCM

If you’re a renter, you likely face an important decision every year: renew your current lease, start a new one, or buy a home. This year is no different. But before you dive too deeply into your options, it helps to understand the true costs of renting moving forward.

In the past year, both current renters and new renters have seen their rent go up based on information from realtor.com:

Three out of four renters (74.2%) who have moved in the past 12 months reported seeing their rent increase. The strain from recent rent hikes isn’t exclusive to renters who have recently moved. Nearly two-thirds of renters (63.2%) who have lived in their current rental between 12 and 24 months, and likely renewed their lease, have also reported increases in their rent.”

And if you look back at historical data, that shouldn’t come as surprise. That’s because, according to the Census, rents have been rising fairly consistently since 1988 (see graph below):

Avoid the Rental Trap in 2023 | MyKCM

So, if you’re considering renting as an option in 2023, it’s worth weighing whether this trend is likely to continue. The 2023 Housing Forecast from realtor.com expects rents will keep climbing (see graph below):

Avoid the Rental Trap in 2023 | MyKCM

That forecast projects rents will increase by 6.3% in the year ahead (shown in green). When compared to the blue bars in the graph, it’s clear that the 2023 projection doesn’t call for an increase as drastic as the ones renters have seen over the past two years, but it’s still above the historical average for rent hikes between 2013-2019.

That means, if you’re planning to rent again this year and you’ve not yet renewed your lease, you may pay more when you do.

Homeownership Provides an Alternative to Rising Rents

These rising costs may make you reconsider what other alternatives you have. If you’re looking for more stability, it could be time to prioritize homeownership. One of the many benefits of owning your own home is it provides a stable monthly cost that you can lock in for the duration of your loan. As Freddie Mac says:

Monthly rent payments may increase over time, but a fixed-rate mortgage will ensure that you’re paying the same amount each month. With a fixed-rate mortgage, your interest rate is locked in for the life of loan. Steady payments allow you to budget wisely and make plans for the future.”

If you’re planning to make a move this year, locking in your monthly housing costs for the duration of your loan can be a major benefit. You’ll avoid wondering if you’ll need to adjust your budget to account for annual increases like you would if you left your housing payment up to your landlord and their renewal cycle.

Homeowners also enjoy the added benefit of home equity, which has grown substantially. In fact, the latest Homeowner Equity Insight report from CoreLogic shows the average homeowner gained $34,300 in equity over the last 12 months. As a renter, your rent payment only covers the cost of your dwelling. When you pay your mortgage on a house, you grow your wealth through the forced savings that is your home equity.

Bottom Line

If you’re thinking of renting this year, it’s important to keep in mind the true costs you’ll face. Let’s chat to see how you can begin your journey to homeownership today.

Marty Gale

Buy or Sell with Marty Gale

"Its The Experience"

Principal Broker and Owner of Utah Realty™

Licensed Since 1986

CERTIFIED LUXURY HOME MARKETING SPECIALIST (CLHM)

PSA  (Pricing Strategy Advisor)

General Contractor 2000 (in-active)
e-pro (advanced digital marketing) 2001
Certified Residential Specialist 2009

Certified Negotiation Expert 2014

Master Certified Negotiation Expert 2014
Certified Probate Specialist Since 2018

Senior Real Estate Specialist

Certified Divorce Specialist CDS

 

Contact me! 

 

 

Americans Choose Real Estate as the Best Investment 

Americans Choose Real Estate as the Best Investment 

Americans Choose Real Estate as the Best Investment

Americans Choose Real Estate as the Best Investment [INFOGRAPHIC] | MyKCM

Some Highlights

  • According to a Gallup poll, real estate has been rated the best long-term investment for eight years in a row.
  • Real estate tops the list because you’re not just buying a place to call home – you’re investing in your future. Real estate is typically considered a stable and secure asset that can grow in value over time.
  • Let’s connect today if you’re ready to make real estate your best investment this year.

Samuel Norman Family

If I could give Marty a 10 I would but google only allows a 5. We were first time buyers and were very nervous in buying our first home not thinking we’d have much of a chance or the financial capability. Marty went above and beyond the call of duty and helped us every step of the way, from choosing the best loan to driving us out several hours away to take a look at properties we were interested in. He even helped us for several hours to trim up the trees and branches that broke off and covered the property we had just purchased from a snow storm that hit right as we closed on the property. Marty is more dedicated to helping others than anyone else I know of and it was the greatest experience to work with him and learn from him. If you are considering buying or selling a home I can assure you are in great hands. There is no one better that I know of that can and will do as much as Marty has. Thank you Marty for everything.

Taylorsville Chiropractic - Dr. Terry Martin

Positive: Professionalism, Quality, Responsiveness, Value
My commercial real estate was complicated and unique. Laurie and Marty went beyond any expectations to successfully market and sell the property. Their experience, connections within the community, and excellent reputation is priceless.

Kelly Costner

Positive: Professionalism, Quality, Responsiveness, Value

Marty really knows his stuff. I’ve had him represent me as both a buyer and a seller, and I feel like I’ve got a real pro in my corner every time. He makes the process of buying and selling smooth and easy, and has a real handle on what the market’s doing. That way, you can feel confident you’re getting the best deal and taking action at the right time. His expertise and many years of experience are well worth the fee.

Emily Costner

Very professional. We greatly appreciated the care in the photos that made our home look spectacular! The selling process was quick and easy.

Adia Thornton

Positive: Professionalism, Quality, Responsiveness, Value

House hunting was practically a full time job. We were out looking at houses almost every single day. The market is so hot we lost 6 offers. He kept our spirits up and never wavered on quality.

His expertise was sooo valuable. He was really looking out for us. If we walked a house and it was cute but would have hidden problems he spotted them and guided us away from it.

We’re now in an adorable house that was exactly what we needed.

Lonnie Woodman

Positive: Professionalism, Quality, Responsiveness, Value

Marty is great to work with! He found the exact house I was looking for in a super tough market.

Brad East

Positive: Professionalism, Responsiveness

Marty has represented us for years and is an exceptional agent. In addition to his many decades in residential real estate, he also is an experienced luxury, custom home builder. His knowledge of the quality(or lack thereof) of the craftmanship of a home is invaluable. He sees things that even the inspectors may miss. He is thorough, responsive through the entire process, and skilled at negotiation. We certainly recommend him without hesitation

Dwight Christie

Positive: Professionalism, Responsiveness

Marty sat down with my and wife and me to explain his process of helping first time home buyers. He took the time with us as we are interested in helping our kids. Marty is very professional and knows the real estate market better than anyone that we have talked to in the past. We will definitely be recommending Marty to help our daughter and her husband to get into their first home.

Daniel Garner

Marty and his team are some of the most knowledgeable and caring people I know. I definitely would recommend his services to anyone!

Kitroen Costner

 
 

Positive: Professionalism, Quality, Responsiveness, Value

I had a Great experience! Got my house sold super fast for a great price.

Spencer Clark

Positive: Professionalism, Quality, Responsiveness, Value

Marty was great to work with. The expertise and experience he offers are unmatched. I highly recommend Utah Realty for all your real estate needs.

Todd Anderson

Positive: Value

Marty and Laurie are veterans in Utah’s real estate market. They understand property valuations in various market conditions. They are adept at finding solutions for the trickiest challenges of buying or selling a home. Marty and Laurie successfully sold three properties for our family. I highly recommend them for your real estate transaction.

B Flow

Marty Gale is amazing to work with. He was able to work miracles for us in order to sell our condo. He goes above and beyond what a realtor is required to do because he becomes invested in his clients. He actually cares about who he is representing. His network of lenders and other people in the industry makes for a seamless process.


We also used him to buy our new home. We had an extremely short time frame and he was able to get us closed on our new home in record time before we went on vacation. He knew we would be worried about the security of our home while we were gone and he offered to keep a very close eye on it to put our minds at ease. He did all this after we had closed on our home and technically his “job” had ended. I can’t recommend him enough! Thank you Marty!!!

Wyatt Anderson

 
Positive: Professionalism, Quality, Responsiveness, Value
Marty is exceptionally professional to work with. He is very knowledgeable in the field of real estate and construction. I was very impressed how he made me feel through the whole transaction of the sale, even during the midst of Covid-19. I highly recommended Marty!

Faye Williamson

 

Positive: Professionalism, Quality, Responsiveness, Value

This is the second time using Marty Gale. He is very knowledgeable and has a keen sense of reading people, especially in negotiating. His advice has never failed. The second time using him had some unique hurdles, especially because it had been a rental property. His advice and willingness to help make the sale happen were above and beyond my expectations. I highly recommend him and Laurie for selling or buying. Thanks to the Gale team!

Greg Anderson

Positive: Professionalism, Quality, Responsiveness, Value

Marty was great and had worked hard to sale . I would use Marty again to buy or sale. Marty is a 12 star realtor.

Trevan Thomas

I recently bought my first home with my fiancee and Marty was incredibly helpful. I had no idea how complicated the process of buying a home would be. We certainly could not have done it without Marty’s help. He is experienced and used his connections with a variety of people to make the process as quick and easy as possible. I definitely recommend contacting him if you’re in the market for a new home.

Coulter Baldes

We’ve been through war with this guy and he stood by us the entire time. He always had time for us, and was always going above and beyond behind the scenes for us. His suggestions were awesome and people he works with we’re also fantastic. Can’t speak enough of how much this guy helped us.

Mariah Mills

 

Marty was great to work with. Recently my fiance and I were looking for a house, and Marty was recommended to us by my mother. She worked with Marty 30+ years ago when my parents bought their house. I had no idea all that went into buying a house, but thankfully we had Marty there to help walk us through it. He was great at using his connections to help us get our house. I would recommend Marty to anyone looking to buy a house.

Cynthia Sayers

 

They are the most caring, educated, patient agents and go the extra mile to be sure you understand and are in the loop from begining to end. You can’t go go wrong with Marty and Laurie Gale, they are a blessing.

Samantha Cook

Marty Gale is the best! He is a master negotiator! You can’t go wrong with him. I highly recommend him and would recommend him to anyone I know.

 

Brandon Christensen

 I’m a loan officer who was working with Marty and Laurie to help a great family get into a home. No matter how many issues came up in the loan, they would stop whatever they were doing to make sure the issue got taken care of. They were absolutely instrumental in getting the loan closed and I truly do believe that most other realtors would have fallen short. Between their experience and dedication to the families they help, I don’t think that you could find a better realtor to get you into a home. I highly recommend them to anybody who’s looking to buy a home. They will get you both the best deal and experience possible.

Marc J.

 

Jenny Bowen

 

Marty Gale at Utah Real Estate was fantastic to work with! He helped us both with the sale of our home as well as the purchase of a new one. I loved that he got feedback forms on the showings so we could get an idea of what potential buyers thought of our home. He was eventually able to negotiate a very strong offer and even got us above the asking price. On our purchase, he showed us countless properties and provided insight because of his professional background. For the home we purchased, it was in a very hot area and he made sure we were first at the open house. He also HAND DELIVERED our carefully written offer so that we would stand out against other offers. I would highly recommend Marty to anyone looking to buy or sell!

Gilbert Bruce

Both Marty and Lori were fantastic to work with. They went the extra mile during one of the toughest winters in the Midway area to produce a great sale of our residence. Never a complaint to travel to Midway for open houses and potential buyers. They’re the best!

Thomas Alley

Marty is the hardest working and most helpful real estate agent I have met. I have gone through 4 cycles of buying and selling homes in my life and Marty was simply the best. Marty recently helped us sell a house and he guided us every step of the way, providing sound advice from his lifetime of experience. I highly recommend Marty.

DeWayne Brundage

We loved working with Marty Gale! He gave us so many tips on how to stage our home to sell, we followed his advice and sold it quickly. He helped us find our new home and closed on both at the same time. It was a stressful time but he made the process so much easier. I would highly recommend Marty and Laurie Gale to anyone looking to sell or buy a home. They have years of experience and it really shows. Thank you Marty and Laurie for all your help and for helping us keep our sanity through this process!

Doc Carmel Ferreira

 
Laurie was a delight to have had when I was looking for a commercial space. She was so patient with helping me find spaces that fit my criteria but even more grateful for he knowledge on helping understand some of the complicated lease agreements I was presented with. In the end, she helped me find the perfect space and along that journey I made an incredible friend from that time. THANK YOU FOR ALL YOU HAVE DONE FOR ME!!!!

Peter Smith

Positive: Professionalism, Quality, Responsiveness, Value

Marty walked me through the entire home buying process, answered all my questions, and advised on the best courses of action while allowing me autonomy. His breadth and depth of knowledge in the industry is unparalleled, rarely did he not know the answer to a concern I had. I could tell he wasn’t just a salesman but a person invested in my family and I’s well-being. HIGHLY recommend, will use again.

Lindsey Fabiano

 
Positive: Professionalism, Quality, Responsiveness, Value
Marty is amazing to work with. You can tell by his actions that he really works toward your personal needs and preferences and never toward his own. He is the absolute best!

Marty Gale

Buy or Sell with Marty Gale

"Its The Experience"

Principal Broker and Owner of Utah Realty™

Licensed Since 1986

CERTIFIED LUXURY HOME MARKETING SPECIALIST (CLHM)

PSA  (Pricing Strategy Advisor)

General Contractor 2000 (in-active)
e-pro (advanced digital marketing) 2001
Certified Residential Specialist 2009

Certified Negotiation Expert 2014

Master Certified Negotiation Expert 2014
Certified Probate Specialist Since 2018

Senior Real Estate Specialist

Certified Divorce Specialist CDS

 

Contact me! 

 

 

Reasons To Hire a Real Estate Professional 

Reasons To Hire a Real Estate Professional 

Reasons To Hire a Real Estate Professional

Reasons To Hire a Real Estate Professional [INFOGRAPHIC] | MyKCM

Some Highlights

  • Whether you’re buying or selling, there are many perks that come from working with a real estate advisor.
  • Real estate professionals are experts at navigating all aspects of the buying and selling process, including negotiating on your behalf. We can also explain today’s market and break down what it means for you.
  • Don’t go at it alone. Let’s connect today so you have advice and an expert to count on each step of the way.

 

Marty Gale – CRS, ABR, MCNE, SFR, SRES,CPRES,CDPE,E-PRO,CNE 

Principal Broker at Utah Realty

 

I have received the Premier top 1% (MCNE) Master Certified Negotiation Expert Designation. Of which around 33 of over 26,000 licensed  real estate agents in Utah have.  Staying educated helps me to best serve my client’s. Having the (ABR) Accredited Buyers Representative Designation allows me to Best represent  the buyer in Real Estate Contract negotiations also. Recognition as a Certified Residential Specialist* — CRS is the highest credential awarded to residential sales agents, managers and brokers, I take pride in being one of 3% of Realtors holding CRS Credential. Only 2 Agents in Utah hold this Designation. In Utah about 22 Agents have the Certified Probate Real Estate Specialist Certification. DON’T COUNT ON THE MARKET; COUNT ON MY SKILLS. Marty Gale currently is the only Agent in Utah that Holds all Four!

Let me separate the Pack

  • 26,000 Real Estate Agents*
  • 16,000 Are members of the National Association of Realtors. This group carries the Realtor Designation (Higher Standard of care and abide by a stricter code of ethics. )*
  • 280 Are Certified Residential Specialists and are Members of the Residential Real Estate Council (Tough to get)*
  • 130  Senior Real Estate Specialist in Utah (16 Hours of Class Time)
  • 33   Are Master Certified Negotiation Experts. They have competed the 3 part course consisting of about 96 hours of class time.*
  • 22  Are Certified Probate Real Estate Specialists. They are certified through U.S. Probate Services. A Leading Free Consumer Resource on Probate, Conservatorship and Estate Settlement. Trained,  and certified in the  probate process.*

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