Okay, the part in red is correct.
But the very nano-second that we believe on Jesus, is when we are saved. Grace is what God extends to us because He knows that we are sinners and need a savior, hence why He sent Jesus to die to save us from our sins..
IMO, Jesus is de-valued when we DON'T trust in him for our salvation. He is de-valued if we try to add works to salvation in order to maintain it.
This is my understanding, anyway.