A bill that eliminates VA loan cap signed into law

President Donald Trump signed the bill into law last Tuesday night, June 25th that eliminates VA loan cap. Following this, the Department of Veterans Affairs can now accept loans exceeding the loan limit which is $484,350 for most counties. This was allowed by the Blue Water Navy Vietnam Veterans Act without any down payment. The bill was approved around this month and the President of the United States of America officially signed it last Tuesday.

According to military.com, the bill was said to fast-track disability compensation for former service members and it was long-desired for veterans to receive health care benefits especially for diseases related to Agent Orange exposure. The cost of the benefits will be financed by increasing the VA loan fees from 0.35% to 0.5% for non-disabled veterans. 

The National Association of Realtors or NAR was against the increase of loan fees, and the lawmakers chose to increase the loan cap to raise funds to support the benefits.

John Smaby, the National Association of Realtors president along with other trade groups make sure veterans benefits will be extended even without increasing the loan fees. “Realtors support efforts to boost veteran participation in this program, but we also believe VA loan guarantee fees should be based on the risk of the loan made, not the costs of other VA programs or benefits,” Smaby said.

He added, “As we aim to ensure our nation’s veterans have every possible opportunity to achieve the American Dream of homeownership, the National Association of Realtors has remained a strong supporter of the VA home loan guaranty program. This vital tool encourages private lenders to offer favorable home loan terms to qualified veterans and provides a much-needed resource to those who have sacrificed so much for this country.”

The Veteran Affairs Loan or the VA Loan has helped veterans in homeownership as the loan can be acquired with no down payment. Up to this day, the homeownership of veterans has continued to increase. 

Real estate questions? Call Cristobal or visit our website at integrity.realestate

4 Tips To Increase The Value Of A Property

If you’re selling your property and you have a tight budget, you don’t have to spend a lot of money to increase your property value. There are free easy ways to do to help find potential buyers for a better price.

1. Repaint or retouch. There is no need to repaint the entire house before selling it, however, you should touch up any smudges that won’t wipe off. If you have some leftover paint in the garage from the last time you painted the walls, you can still use it for the retouches. So stir it up and lay it on where needed. It will take some time for the new paint to darken and match the current one, try to make this at least a week before showing the house.

2. Maximize Unused Space. If you have an unused room in your home that’s not really doing much, it’s about time to give it some use. Add a desk and a computer and make it a home office, or you could clean it up a little bit and make it a guest bedroom. You want the potential buyers to think how adaptable your floor plan and square footage is, so make sure to use it properly.

3. Clean your Front & Back Yard. A little bit of mowing and gardening can help build your property’s appeal as much as you expect. Even consider cleaning your neighbor’s lawn for free, that way when people view the house, they will know what kind of neighborhood they will live in.

4. Light the fireplace. Put your fireplace to good use when showing your house, a warm hearth kick-starts the nesting instinct, and it will surely increase the perceived value of your house. This will let people know how cozy the house gets!These are only just a few options that can quickly and easily raise the property value of our home, best of all, it doesn’t cost you anything. When you sell your home, it is more about the care than flair.

As long as you keep it well-kept, you don’t have to spend a lot of money with remodeling/upgrading projects. It’s about the creativity and self-trust. 

Home Improvements Can Actually Increase Number of Potential Buyers

The competition for buyers is as close as ever. For sellers, in order for their property to be noticed by many, they need to be innovative not just to entice as many inquiries as possible, but also to increase the property’s value.Here are a few tips on how to boost your property’s worth and get the attention it deserves.

1. Paint is important. According to an analysis of over 50,000 homes sold in the United States, those whose kitchens were painted in warm yellow hues were bought around $1,300 above house value. Kitchens with earthy tones like dove gray and sage green were also able to help rake in yields higher than expected.A kitchen painted with warm hues and earthy colors do not intimidate buyers from trying to keep a kitchen pristine-white clean, thus they tend to purchase the home.The choice of color not only increases or decreases a property unit price, but it also affects the potential buyer’s mood once he checks out the area. Fresh paint and its color is essential to a unit as it can dramatically change a space’s feeling and also signals that the unit has been taken care of and is in tip-top shape.

2. Deal with the questionable. Once a buyer enters a property, he or she is bound to inspect the place inside out to try to eliminate things that might draw their attention and bring to question certain things, such as weird decors and broken tiles. Questions asked about issues in the units (that could have been dealt with earlier) lessens the probability of a sale.Keep the unit clean and tidy, remove clutter, and make sure that everything is in its proper place. Also, maintenance is important to keep the property in shape.

3. Opt for custom-made. Properties like condominium units usually have limited space and makes furniture and fixture shopping difficult. It is highly advised to go for custom-made storages that will fit your unit’s layout perfectly. This will also test your creativity on how well you maximize the little space you have.

4. Be smart. Smart appliances can really sway unsure buyers because they are easy to use and maintain. Oftentimes, these can be connected and controlled by a smartphone or tablet, and are energy and money savers. Technology nowadays is a great help in showing off your property.

5. Go green. Having green utilities is a major plus. Going green means protecting the Earth and reducing carbon footprint. Buyers who ask about green utilities are increasing every year. This tells sellers that a lot of people are already conscious about going green.

6. Take note of the aesthetics. Step back and look at your property like an interested buyer would. Does it present a pleasant atmosphere? Is it clean or is it too cluttered? Do you think the layout is good or can it be altered for something much better?A well-thought out unit makes an impressive and lasting impression on interested buyers. Make their inspection a pleasant experience and give all their senses (not only their eyes), then, it will be a very good first impression.

7. Photos are influential. When you list your property online, your unit’s pictures represent your unit by showing what buyers can expect from your unit. These digital windows to your unit must be able to capture the attention of a buyer. It is important to upload realistic photos that will highlight the best features of your unit.