VA Loan / Veteran Mortgage News
Bruce Reichstein (NMLS #273132) is Sr. Loan Officer specializing in VA Home Loans with Emery Federal Credit Union and VALoans.com. Bruce has originated and underwritten VA loans in all 50 states for over 25 years and is a Nationwide Lender.
NOVEMBER 2006
Military Discounts and Special Offers
Most of the time, military discounts are available on anything ranging from auto manufacturers who offer military
incentives to increase their sales to hotel chains, car rental companies, airlines and so on. Here are a few for you to review.
Automobiles:
Ford Military Appreciation Program
Jeep Military Incentive Program
Suzuki Auto Military Incentives
GM Military Sales Offers
Car Rentals:
Avis, Budget, Alamo
Airlines:
United Airlines
US Airways
Theme Parks:
DisneyWorld
Hotels and Resorts:
Days Inn, Howard Johnson, Knights Inn, Ramada, Wingate Inn, Travelodge, Super 8 Motel, Villager, AmeriHost Inn
Marriott
Phone Rates:
AT&T
Today's Purchase Opportunities
Some real estate market observers are concerned that rising payments on adjustable-rate mortgages will seriously weaken
the housing market. Home sales have slowed in the U.S. from a hectic pace - although this year still is expected to provide
the third-highest total ever. Fewer sales mean more properties pile up on the market. Sellers wanting to move quickly are
finding they must lower their price expectations to find a buyer.
Yet most communities won't see home prices drop drastically. Values will fall only in areas which have experienced job
losses or speculative real estate purchases by investors hoping to resell for a fast profit. Real estate columnist
Kenneth Harney reports that one economist says "the financial press and TV news shows are over-dramatizing what is a
normal and long-predicted cyclical rebalancing." The media are "portraying it as a catastrophe," he adds.
Stretch Your Income
Being able to afford the payments on the house you want may require making trade-offs in your overall spending habits.
Below are some ideas to consider on how to happily live within your income.
- Prioritize your spending. Make sure your money is being used to achieve your life goals.
Start by keeping track of everything you spend for a month. Some items probably will jump out at you as taking up more funds than they should.
You may decide to begin with a big change, such as dropping a phone plan. But it's also effective to take several smaller steps which will add up to significant savings each month.
- Keep looking for ways to cut back on spending without depriving yourself. Try going out to eat less frequently, or bringing your lunch to work some days.
You also may find that at times you spend too much on holiday and birthday gifts. Come up with less-expensive ways to make those days special for friends and family.
- Having goals helps you put aside funds for the future. Saving small amounts regularly helps a college or retirement fund to grow steadily - and that will make you feel great!
- Take money management steps at your own pace. Don't give up an extra car right away. Instead, don't drive it for a few weeks, and then decide if you the savings you'd enjoy would mean more than having use of that vehicle.
Some spending patterns also may represent habits that we no longer enjoy as much as we used to. Instead of stopping at a coffee shop every morning, put that money into a vacation fund.
- Don't go shopping when you need an emotional lift. Play some favorite music or spend time with a friend instead.
- Know what your hourly earnings are, and ask yourself before buying something, "Is this worth the time I'll spend on the job to pay for it?"
Living on less simplifies our lives and gives us more time to spend at home with family and friends. You may find that provides more pleasure than anything you could buy.
Best Holiday Wishes!
Year-end holidays give us reasons to appreciate our homes even more than we usually do. Many of our favorite memories are of being with family and friends in our own home.
Our professional goal is to help you gain the most enjoyment possible from your house. Call us whenever you want to review your mortgage, are planning to renovate your home, are considering a move, or looking to purchase additional properties.
Count on us to provide financing solutions that suit your individual needs. And when you refer friends and family to us , we'll make sure they receive exceptional service!
Real Estate Psychology
Buying a house is the largest purchase most of us will ever make, and it usually becomes the biggest investment we own.
Deciding on a neighborhood and choosing the features most important to us also affects our daily lives.
So it's no surprise that buying and selling real estate can trigger emotional responses that we may not totally understand.
Here are some common situations that occur:
- Today some sellers are pulling properties off the market because they don't like the offers they're receiving. That's true even though the sellers have lived in their home for years and now can sell for a substantial profit.
Price appreciation has come down from above-average levels. Yet many owners now aren't happy unless they can sell at a much better price than their neighbor received a year ago.
What happened is that last year's market created inner expectations. Some sellers now see rapid price appreciation as normal, and aren't willing to settle for less - even though the market is different from a year ago.
- Home buyers also can be strongly influenced by their emotions. Someone may unconsciously feel comfortable in a house that reminds them of the home they grew up in, even if another residence could better serve their needs today.
- Lifestyle changes often should lead to moving to another house. But some owners remain in properties that no longer suit them.
A couple whose children are on their own might be happier in a home which doesn't have a large yard that needs taking care of.
Yet they may hope that their grandchildren one day will enjoy playing there as much as their children did.
Remodeling and putting in new landscaping could make their house better fit their needs. Or they should consider moving to a
home that suits their current lifestyle.
Understanding our emotions can help us avoid being overly swayed by them when choosing a house. We're then more
likely to be totally satisfied by our selection.
