Consumer Tips

Union members looking for the complete ratings, as well as expert advice on the highest rated consumer products, make sure to sign up for ConsumerReports.org with your Union Plus 27% online subscription discount.

Real estate is a local experience, so be prepared for varying conditions depending on where you live. In much of the Midwest, West, and South, for example, sellers have the most leverage, according to Lawrence Yun, chief economist at the National Association of Realtors. But buyers have the advantage in the Northeast and Midwest. In especially hot markets like San Francisco, Seattle, and Dallas, final sale prices are usually at or above asking, and bidding wars are not unheard of.

Even so, there’s plenty you can do to affect how much money you make on a home sale or spend on a purchase, according to our survey of real estate pros. A lot, it turns out, rides on your choice of real estate agent. A disturbing finding of our survey was that 86 percent of agents said they witnessed other agents engaging in poor business practices, which could cost consumers money. About a third said they saw agents steer buyers toward homes that would give them higher commissions. Others said some brokers exaggerate when marketing themselves. And 27 percent knew of brokers who tried to persuade clients to sell a home for less than it was worth.

In a typical transaction, the money you stand to gain from making smart moves—or lose from making poor ones—can be substantial, from 11 to 20 percent of a home’s value, according to our survey. Dodging the following errors will lead to the smoothest, most profitable buying or selling experience.

Home-Buying Blunders

Rushing into a Deal

One of the more costly mistakes home buyers make is agreeing to too high a price on a home, according to the real estate agents in our survey. A related mistake is overestimating one’s knowledge of the real estate market. “It’s not until you’ve been in the market in a particular area for a while that you know what homes are really worth,” says Brendon DeSimone, a real estate agent and author of “Next Generation Real Estate: New Rules for Smarter Home Buying & Faster Selling” (Changing Lives Press, 2014). “If you make an offer on the first house you fall in love with, you risk spending too much based on emotion, not practical sense.” So take your time, go see lots of homes, and get a good idea of the local price scale. A tip: If you do enter into negotiations on a house and they come to a standstill, don’t be afraid to walk away.

Biting Off More than You Can Chew

Of the surveyed agents, 33 percent said another mistake customers make that puts them in a more financially untenable situation is underestimating the costs of home ownership. It’s not enough to calculate the monthly mortgage. You also need to factor in your closing costs and all of the additional fees you’ll owe. Many of the fees are negotiable, such as the home inspector’s fee, the cost to do a title search, and your attorney’s fee. And find out what the current homeowner pays for utilities, taxes, and other monthly costs, so you can be sure you can really afford that home. Also get estimates for repairs you want to make to the home before you move in.

Failing to Upgrade Your Credit Score

To get the most favorable rate on a loan, you have to have a strong credit profile, and that means a credit score of at least 740, says Greg McBride, chief financial analyst for Bankrate.com. Recently, if your score was 740 and you applied for a $300,000, 30-year fixed mortgage, you could qualify for a 3.75 percent interest rate, with monthly payments of $1,389. If your score was below 680, the best national rate we found on Bankrate.com was 4.25 percent, with a monthly payment of $1,476 for the same loan; over the life of the loan, you’d pay $31,130 more. Don’t wait until the last minute to scrutinize your credit reports and make any necessary changes to improve your profile. If you find errors, be sure to dispute them.

Not Shopping Around for a Mortgage

When shopping for that mortgage, sticking with your regular bank could be costly. Approach several lenders, including banks and credit unions. You can search for national deals on Bankrate.com. We don’t recommend that you hire a mortgage broker to do that because he may be more focused on selling you a mortgage than getting you the best deal. And get pre-approved for a loan before you shop; sellers take preapproved buyers more seriously.

Skipping the Home Inspection

“One of the biggest causes of buyer’s remorse I see is people who do not do a home inspection and find out later there were big problems with the house,” says Betty Gross, a real estate agent in New York. You want to be present during the inspection to learn about any costly repairs that might be needed and to get basic info on the home, such as where the electrical panel is and where you shut off the water. A home inspector can also point out repairs that will need to be done in the next few years. You can find licensed home inspectors in your area on the website of the American Society of Home Inspectors.

Overpricing Your Home

This is the most costly mistake, cited by 43 percent of surveyed agents. “If you price it too high, it will just sit on the market, agents will stop showing it, and buyers will assume there’s something wrong with it,” says Jeanette Cook, a real estate agent in Burlingame Hills, Calif., a suburb of San Francisco. “You may have to drop the price far below what you think it’s worth just to entice people to look at it again.” A good agent will show sellers the sale price for at least five similar homes nearby that sold in the past two months.

Overpaying the Commission

Unless your agent is a close relative or friend, he or she will charge a commission, or percentage of the sale price, and may even lead you to believe that the fee is inflexible. But, in fact, 63 percent of the real estate agents in our survey admitted that they negotiate their fees at least half of the time. And despite the widely held belief that 6 percent is the standard broker’s commission, almost half of the agents we surveyed typically charge just 4 percent or less.

Hiring the First Agent You Meet

Selling a home is one of the biggest financial transactions most people make, so you need to have someone you trust. Ask friends and family for recommendations and meet with at least three candidates. You can often find an agent’s state license number on his or her site, or you can ask for it. Then do a Google search for “(name-of-your-state) real estate licensing division.” Some state real estate licensing divisions will disclose complaints that have been filed or whether a license has been temporarily suspended. And see whether an agent you want to hire is a member of the National Association of Realtors; members are supposed to adhere to a strict code of ethics. Check references from at least three recent clients.

Neglecting to Do a Google Search For Your Address

Make sure nothing negative comes up, such as an old lawsuit or public records that have inaccurate information about your home’s number of bedrooms, say. Also check your home’s street view on Google Maps. If it fails to show improvements you’ve made, make sure your broker addresses that in the listing.

Putting Your Home on the Market Before It’s Ready

Don’t put the “for sale” sign on your lawn until it’s show time, says DeSimone. With 92 percent of home buyers using the Internet as part of their search, according to the National Association of Realtors, photos are key. “You wouldn’t put a picture of yourself wearing a bathrobe on Match.com,” he says. “Your agent should arrange for a professional photographer to take shots of every room and your yard.”

What's the Down Payment?

It's the amount of the purchase price you'll pay at your loan closing. The rest of the purchase price is then financed into a mortgage loan. Be sure to note:

• The more money you have available for a down payment on your home, the less you'll have to borrow.
• Your down payment amount can influence the financing options and interest rates available to you.

Keeping Your Down Payment Amount Down

Today there are financing programs with lower down payment requirements for qualified applicants, such as:

• VA loans with low- and no-down-payment options for veterans
• FHA loans with a 3.5% down payment requirement

Keep in mind - if you make less than a 20% down payment, you'll likely be required to purchase mortgage insurance (MI), adding to the cost of your loan and increasing your monthly payment. The premium for mortgage insurance, which protects the lender if you're unable to make your mortgage payments, is generally added to your monthly payment.

Help From Other Sources

Some loan programs allow you to use monetary gifts from family or friends as part or all of your down payment. Please note that:

• You may be required to provide written proof that the funds were truly a gift and not a personal loan.
• There are limits on how much gift money you can receive per year without increasing your tax obligations.
• It's a good idea to speak with a financial advisor, tax accountant and a home mortgage consultant about impacts to your overall home financing plans and future goals.

Assistance is also available through:

• Groups like Habitat for Humanity.
• Not-for-profit down payment assistance programs (DAPs). They provide funds to qualified homebuyers to help with down payments and closing costs - and many don't require repayment if you meet their guidelines.

Tips on Saving for a Down Payment

If you're looking to buy a home today, or someday, it's never too early to start building up your personal savings.

• Pay yourself first. Think of your down payment as a monthly bill. Figure out a manageable amount and set up an automatic monthly transfer from your checking account to a dedicated down payment savings account.
• Spend less and save more. Separate "wants" from "needs" - keeping in mind that what you want most is a home. The less you spend on what you don't need, the more you'll be able to save for a down payment.
• Track your spending. Record everything you pay for every month - by item and price. Compare the total to your monthly income. You'll surely find expenses to cut and money to redirect to your down payment savings.

Learn more about the Union Plus Mortgage program and its unique union benefits.

Finding a new dream home can be an emotional nightmare. From the work it takes to search through houses, to build a relationship with a real estate agent and to qualify for a loan, you are probably exhausted even before attempting to move that awkward-to-hold couch into your new place.
 

1. Budget

   Figure out how much money you have available to spend against what tasks you can realistically handle on your own. This will help determine how much to let the professional movers handle.
   
    

2. Get an Estimate

   Make sure to get a free estimate before hiring movers, which most moving companies provide. Union members can get a free quote from Union Plus' two professional moving discount providers, NorthAmerican Van Lines and Allied Van Lines. And for self-moves, check out Union Plus Budget rental discounts.
   
    

3. Know Which Items Need to Be Packed

   Prior to your move, assess your household inventory. Only taking items worth keeping can save a lot of time and money. You can put your other belongings to good use by donating them or selling them at a garage sale. Need to move a vehicle?  Don't miss these tips and get a free quote.
   
    

4. Lock in a Move Date

   Once you receive estimates from a mover, ask them about availability. If you have specific moving days in mind, don't hesitate to lock in your moving dates - even if your plans are not necessary set in place.  It is generally easier for moving companies to delay your packing and loading dates than to schedule dates with only a week's notice.
   
    

5. Plan Ahead as Much as Possible

   The more time that you can allow for pre-planning, the better. Start getting moving quotes no less than 30 days from your anticipated move date.  During the summertime, even more time may be required.
   
    

6. Adjust for the Change of Address

   Take the necessary steps to discontinue your current household services and utilities, and schedule these services for your new home. Make sure your change of address is reflected where important.

And check out these other Union Plus relocation services and savings:

• Union Plus Moving Discounts
• Budget Truck Rental Discounts
• Union Plus Mortgage

Have your own moving tip? Tell us below!

Know Your Market

Look at trend reports for your area to get a sense for your market – are homes selling? Where are they selling? When are they selling? And, at what price point? You’ll notice that in some areas certain neighborhoods, price points or types of homes might be selling quicker than others. Look for these trends so that you can better position your home when you list it.

Not Getting on the MLS

Getting your home on the MLS is extremely important. Adding your listing to ancillary sites like Zillow or Trulia is also a good idea – but, typically your real estate agent will manage this for you.

Not Even Considering a Real Estate Agent

If you’re looking at the dollars and cents, you might be apprehensive about hiring a real estate agent. But, before you make a final decision consider this:

• You will most likely have to pay for the buying agent out-of-pocket, so your listing agent would (typically) only be a 3% commission on the sales price.
   
• Calculate 3% of your home price and think about the hours it might take away from your work or home life to market and show your home.
   
• If you don’t have a real estate agent, you might need to pay for a lawyer to double-check your contracts (which will cost some money).
   
• Agents have access to numerous marketing tools and sites, not available to the public.

If you’re interested in learning more about the Union Plus Real Estate Rewards Program* or for a SIRVA-Approved real estate agent in your area, you can contact 800-284-9756. If you decided to use one of our pre-screened agents, you can receive $50 cash back after closing for every $10,000 of home sale or purchase price.

Click here to learn more >>

Here Are Five Facts You Should Know About AT&T:
 

Exclusive Savings, Just for Union Members

• With the AT&T wireless discounts through Union Plus,¹ union members can save 15% on the monthly service charge of qualified AT&T wireless plans and 20% on select accessories from AT&T.
   

Member-Backed, Member-Endorsed

• 96% of union members recommend the AT&T wireless discounts through Union Plus,² according to a recent email survey to program participants.
   

Equipped for Your Lifestyle

• AT&T offers benefits that support your lifestyle – like same-day screen repair³ and free roaming in Mexico,⁴ ensuring you can stay connected with those who matter most.

Network Reliability

• The AT&T network has the fewest dropped calls⁵ – and covers over 99% of Americans.
   

Union strong wireless

• Nearly 150,000 union members from the Communications Workers of America are employed at AT&T – the nation's only unionized wireless carrier.
   

 For more information on AT&T, visit UnionPlus.Org/ATT.

There’s nothing good about being in a car accident. Unless you happen to live in a romantic comedy, and manage to meet the love of your life in a cutesy fender-bender, there’s not much positive to say about hitting something with your car, or having another car or inanimate object hit your car.

One of the biggest headaches coming out of an accident: what’s this going to do to my insurance?

We all know that accidents of any kind aren’t good for our insurance premiums. On the one hand it makes sense — if you get into an accident, insurance agencies tend to think that you’re likely to get into another one, which means providing you with insurance is riskier, which means they need to charge you more.

On the other hand, that’s what you have insurance for in the first place. It seems like, for insurance companies, an ideal customer is one who pays a monthly fee and never uses their insurance.

But then you do get into an accident. Repairs are required. And you ask yourself, “Should I let my insurance pay for this?”

Single Car Accident

Let’s say no one else is involved. Only your car has been damaged. A few years ago, in the middle of a snowstorm, I spun out on an exit ramp and cracked up the front, right edge of my vehicle. (I say “cracked” instead of “crumpled” because it was the kind of car that cracked instead of crumpled, unfortunately.) The car was perfectly drivable, it just looked off. I decided to leave it be.

But let’s say you can’t leave it be. It needs to be fixed. Should you use your insurance or pay out of pocket? Well, let’s consider the following:

Your Deductible

Before your insurance company pays for any repairs, you’re going to have to pay a deductible. The amount is usually fixed and generally pretty high if you pay a low premium (conversely, the higher your premium, the lower your deductible — it’s one of the ways that insurance companies manage risk). If the repairs are less than your deductible, pay out of pocket. If they’re slightly higher, you might still want to pay out of pocket.

Your Policy

Not all insurance policies are created equal. It’s difficult to say what an insurance claim will do to your premiums without understanding what your policy looks like. Some policies forgive accidents under a certain dollar amount. Some policies forgive your first accident, whatever the cost. Some consider your full driver history before making a potential rate increase. Speak with your insurance agent to fully understand all of the ramifications of your potential insurance claim.

Your Demographics

In order to control risk, insurance companies make a lot educated assumptions about drivers. Your demographics – your gender, your age, your education level, your credit score — all factor into your insurance policy.

Historical data shows that women are less likely to be involved in accidents than men, so their insurance rates are lower. Young drivers and seniors pay higher rates than middle-aged drivers. A poor credit rating can also net you a higher monthly premium. So when considering whether or not to file a claim, consider your driving record and your demographics. If you’re a highly desirable customer, your insurance company is less likely to raise your rates for fear of losing you to another insurance agent.

Multiple Car Accident

So now let’s say you get into an accident with another car, and the other driver says, “Let’s not bring the insurance companies into this.” They want to work something out directly. If you’re at fault, they want you to give them cash for the repairs. If they’re at fault, they promise to pay your costs out-of-pocket.

Unless you’re dealing with a friend or a family member, the safest way to handle any accident is to let the insurance companies work it out. It’s not necessarily that you should never trust strangers, but you’re going to have a very hard time finding a happy compromise.

If you’re paying for their repairs, you’re going to want a say in who does those repairs. Your interest will be in limiting costs — their interest will be in getting the best possible service, independent of cost.

Also, just because you pay for someone’s repairs out-of-pocket doesn’t necessarily mean they won’t still go ahead and file an insurance claim anyway.

So stay out of that particular quagmire. Let your insurance company sort it out.

After all, that’s what you’re paying them for.

Understanding Coverage Limits

Coverage limits protect your assets and represent the amount of money your insurance will pay to cover losses after an at-fault accident (an accident that you're responsible for). If costs from an accident go above the limits you choose, you're typically responsible for paying them.

So why doesn't everyone just get high coverage limits? Well, while choosing higher limits does give you more protection, it's usually more expensive, because you're asking your insurance provider to cover more damages. So, if you pick higher coverage limits, and you're at fault in an accident, your insurance provider would pay for more damages, but you'd pay more in premiums for that coverage.

Alternatively, choosing lower coverage limits may save you money on your premiums, but you have to assume a larger financial responsibility if you're found at-fault in an accident, and that can be very expensive.

It sounds like a balancing act, but if you follow these rules, you'll confidently find coverage limits that fit your lifestyle and budget comfortably:

Rule #1: Choose Coverage Limits That Reflect Your Needs

When you're deciding on coverage limits, ask yourself:

• Who am I covering on my policy?
  Who you cover under your policy can have a big impact on the limits you need. For example, if you're covering yourself, your spouse and your two teenagers, you may want to consider higher limits, since the risk of being involved in an accident tends to increase as more drivers are added to a policy. You may also have more assets to cover with a larger family. However, if it's just yourself on the policy, take into account your personal needs and choose coverage limits you're comfortable with.

Rule #2: Choose Coverage Limits That Protect You and Your Property

When you decide on coverage limits, you want enough coverage to protect you and your assets if you cause an accident. Choosing limits that are too high may be out of your budget, but limits that are too low can expose you to serious financial risks. So ask yourself:

• What financial assets do I have?
  Without sufficient coverage, you can put yourself in real financial danger! For example, if you're found at fault for an accident but don't have enough coverage to pay for the damages, the other party can legally go after your savings and your property to recoup money. So you should consider your financial picture, your budget, and the value of your assets to choose the coverage limits that can best protect you.

Rule #3: Choose Coverage Limits That You Can Comfortably Afford

Budgeting is important for every union worker. So before choosing your coverage limits, ask yourself:

• Is this limit in my budget?
  Everyone's financial situation is different, and everyone budgets differently. So it's important to make sure you can comfortably afford to pay for your auto insurance, and know how much you could afford to pay out of pocket if you got into an accident.
• Can I pay my premiums with this limit and still cover all my monthly expenses?
  Having proper coverage shouldn't keep you from paying bills, making car payments or keeping a little money every month for "just in case" moments. Thankfully, as a union member you get access to great insurance discounts from Union Plus Auto Insurance.

Rule #4: Update Your Coverage Limits When Life Changes

Life can change quickly, so when it does, make sure your auto insurance is still sufficient to cover you, your loved ones, and your assets.

Recently get married? Add a new teen driver to your policy? Get a new car? Move to a new area? All of these life changes can affect your budget, your property values, your risk levels, and your needs. So after a big life change, make sure to contact your insurance provider to reassess and update your coverage limits.

Now that you've seen the rules for choosing coverage limits, see how much you can save with great coverage and special union discounts with a quote from Union Plus Auto Insurance.

By signing a contract and paying an annual fee, you can rent a safe-deposit box to protect things you don’t want—or can’t afford—to lose.

• Keep essentials in the box. Use a safe-deposit box to protect a home inventory, or family records such as birth, death and marriage certificates. Store original papers, such as insurance policies, stocks, bonds and deeds, in the box. You also may choose to store valuable heirlooms or cash in the box.
• Items you may need quickly, need another home. Banks aren’t open 24/7, so a safe-deposit box may not be your best option when you need an item on short notice. You may want to consider your attorney for certain legal documents, rather than store those in the safe-deposit box.
• Consider giving another person access. If you name another person as the co-renter, either of you can access the box. You also could name an agent, who must be appointed when a bank employee and the box renter are present. Note: An agent is guaranteed immediate access to your box; a power of attorney is not.
• Assume the contents are unprotected. The Federal Deposit Insurance Corporation insures the money you have in the bank—but typically not the contents of your safe-deposit box.
• Protect your items. Often you can insure the value of items in your safe-deposit box through your homeowners or renters coverage. Talk to your MetLife Auto & Home® representative about your options.
• Remember what’s in your box. Take photos or update a list of the contents whenever you add or remove items.
• Keep track of your keys. Drilling a new lock and replacing keys can be expensive. Designate a spot for your keys—and be sure your spouse, agent or family member knows where they are.

L0514375426[exp0417][All States]

Smartphones, tablets, laptops and other electronics are expensive to replace. Stretch your dollars by protecting these devices from theft and common mishaps that lead to early destruction.

Prevent Theft

Keep a low profile to help deter thieves from snatching your expensive electronics. Take these precautions:

• Use caution in public places. Keep your device out of sight when you’re not using it, and always be aware of your surroundings.
• Never leave devices unattended — even when they’re under lock and key. Thieves smash the windows of locked cars to retrieve laptops, smartphones and GPS navigation devices in plain sight.
• Carry devices in a nondescript bag or case. This may help prevent a thief from stealing the electronic.

If you plan to travel with electronics in tow, play it safe with this advice from MetLife.

Prevent Water Damage

Avoid using electronics around water, and store your device in a water-resistant case for good measure. If an accident happens and your device isn’t protected, act quickly to avoid a total loss:

1. Shut off and unplug the device. This keeps it from short-circuiting.
2. Remove any obstructions. Prevent water from reaching all components by removing the battery, headphones, and the SIM and memory cards.
3. Drain the water. Get as much water out of the device as possible by tilting it, shaking it or sucking out the moisture with a vacuum cleaner attachment.
4. Take it apart. Follow the operating manual’s instructions for disassembling the device.
5. Let it dry. Store the device in an area with excellent air circulation, and use a fan to help speed up the process.
6. Wait. Give the device a few days to dry out, then reassemble it and turn it back on.

Prevent Wear and Tear

Take care of your device to maximize its lifespan. Some pointers:

• Invest in a protective case. You can choose from a variety of materials, such as hard plastic or rubber, which offer different levels of protection. Clear plastic protectors help prevent fragile screens from cracking or shattering.
• Be careful in extreme temperatures. If your device has been in extreme cold or heat for an extended period, let it warm or cool to room temperature before using it.
• Keep computers in well-ventilated areas. If your desktop or laptop computer feels hot, there may be dust inside the machine. Clean the fans regularly with compressed air, and use a laptop cooling pad to allow for proper air flow.

And remember, MetLife Auto & Home’s Homeowners and Renters Insurance covers your belongings inside your house or apartment.

L0415418817[exp0517][All States]

Nearly 400,000 burglaries take place in the United States during the short span from November to December, according to the FBI. Keep your holidays merry and bright by taking precautions to deter thieves.

While You’re Away

A quiet house is a prime target for thieves. Be careful to avoid advertising when you’re away from home — even just for a few hours. Never leave a note on the door announcing when you plan to return, or post your travel plans on social media. If you expect packages to arrive while you’re gone, have a trusted neighbor collect them for safekeeping. Or ask the courier to deliver the boxes straight to the neighbor’s house.

While You’re Home

Leaving expensive gifts or evidence of big purchases in plain sight can tip off thieves about the valuables inside your home. Close your window shades or remove valuable items — wrapped and unwrapped — from an outsider’s view. Also, break down boxes for big-ticket gifts, and on garbage day place them inside your trash can or recycle bin rather than on the curb.

While You’re Shopping

You’re also at risk for theft when you shop for holiday gifts. Follow these safety tips to help keep yourself and your belongings safe from thieves:

• Always keep your wallet or purse close to your body.
• Wait to pull out your credit card until you absolutely need it — someone could easily steal your information from over your shoulder.
• Avoid carrying large amounts of cash or more than one credit card.
• Lock purchases in your vehicle’s trunk rather than stowing them in the back seat.
• Evaluate a website’s security before making online purchases. (Look for a URL beginning with “https”). Always use a credit card rather than a debit card when shopping online because your debit card is linked to your bank account.

Once the hustle and bustle of the holidays are over, take time to evaluate your gifts and determine whether you’re adequately insured. 

L1014395829[exp0917][All States]