Welcome Home with Monique

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Good morning. This is Monique Buchanan, the host of the welcome home with Monique show. And on this show, I talk all things real estate. Listen, I want to thank you for tuning in. I

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don't know about you guys, but I'm from Seattle. So I totally love the rain last week, but I'm happy to see the sun is out again. Right. So listen, let's go ahead and jump into the show. And I've got a good one for you. Of course, today, I'm just going over you know, the basics, kind of like a back to the basics. We all know that the rates are on the higher side right now, we also know that the feds are planning or at least hinting that they're planning to lower the rates once they feel like they put a complete stop or slow down on the economy. And we're almost there. As you guys have heard. Anthony, my lender go over with us on previous shows. We're almost there you guys. So next year, is when we are anticipating the feds to go ahead and like lower those rates. But like I've said to you guys many times before, if you are some of those people that are just sitting on their hands, just not making a move in the housing market right now, because they're saying to themselves, I'm going to wait until these rates go down. Well guess what, you are not the only ones that are waiting for the rates. So just keep that in mind. And I kind of been using this analogy. It's like a sale, right? Or like Black Friday, you're waiting on the Black Friday sale. Why don't you buy the product today. So that you can make sure you don't have to, you know, Trip A trip somebody to get to the product, right, which is the house, you don't have to fight somebody for the house, or just take whatever's leftover because everything was sold on Black Friday, right? So buy the product that you want today. And then take it back and get that Black Friday price, take the receipt back, take it back to the store after Black Friday and say hey, I want you to honor this price, right? Well, that's kind of like what I'm telling my buyers to do. Right now I'm advising them that, you know, let's make it affordable. Let me do what's called a to one buy down for you have my lenders do that for you. Where now you can wait on the sale to be over right the Black Friday sale to be over. Because once the Feds lower those rates, that's what is going to be like you guys, if you're not quite following me, what I'm saying is when when they do lower those rates, we are still going to have a real serious shortage in homes we do right now you guys very little to choose from in the home market right now we are we have very low inventory. So everybody is waiting for those rates to drop. And I'm saying that that's the equivalent to the Black Friday sale, people are going to be once again offering 1000s of dollars over the list price, because they're going to be going up against other buyers, they're going to be going up against maybe 1012 13 other offers. And so they're willing to waive appraisals, they're willing to do all these crazy things, because there's no homes for sale. But there's plenty of buyers that are looking, especially once the rates drop. So what I'm saying is buy the house now, right? Buy the house now. And when the rates drop, you already have the house that you actually want, not the one that you had to settle for. And all you have to do is go ahead and refinance the house. You didn't have to fight anybody. You didn't have to add 20 $30,000 over what the seller was asking just to get the house. So that's what I'm saying you guys is that right now is the time to buy. In. On that note, I just want to give a couple quick shout outs to some of my k u and v. sellers and buyers that we have just recently sold this week. All right. So I want to give a congratulations to miss Angel. We are closing on that property and I'm so happy for her. I was able to assist her in the sale of her property. And in her area. The average home was sitting on the market, I believe it was something like 40 to 45 days. And we sold that property and under 30 days for you know top price you guys so that's great. Congratulations to Miss Mary. Her property. We I actually I actually broke the record in that zip code. So congratulations Miss Mary. Oh was able to establish a new benchmark for that zip code, which basically raised everybody's property values up. So now, a lot of those home owners that will be selling in that zip code, are happy that I was able to get top top dollar for Ms. Mary, which allows them to use her home to list their property as a comp. In other words, you guys, when you're listing your property, I'm going to come over and I'm going to go over what's called comps with you. And what that is, is, I'm going to pretend like I am the appraiser, okay? Because that's at the end of the day, that's who's going to determine how much your home is worth. Okay. So I need to know what he's looking at and how he moves, right. So what I do is I sit with you and I show you, hey, this is what the appraiser is going to look at. So I have to justify why I'm listing your property at 675,000. Right? So if I'm listing your property at 675,000, you have a 10,000 square foot lot, right? Your home is 3000 square feet, let's just I'm just giving you an example. You have RV parking, you don't have a pool, right? I'm just going over the basics, the appraiser is going to look within one mile of your home for something very comparable to that. If he can find it in the same neighborhood, he's definitely going to look there. But if you ask to go out to bid he will. So what he'll do is look at the square footage, look at the lot size, do you have a pool, that does make a difference? Sometimes it'll add 30,000, or, you know, depending on how much you spent on your pool, on average, 30 to 40,000. Depending on of course, what type of pool you have view, obviously, we have like a waterslide and all this extra stuff, you know, you'll get more bang or more credit, I should say for that. But if you don't have a pool, he's going to try to find properties that do not have a pool. Okay, so that's what I mean by I was able to set a higher bar, because my property when I listed it, I actually felt that I could get more more for this property. So I just went with it. I don't like to leave any money on the table. So I went ahead and push the price up a bit, right? I stretched, okay. And luckily for me, there was a comp that came on while we were in escrow. It was nowhere near what we sold, but it gave me a leg to stand on. Because my property was in superb condition, you guys, it was completely remodeled. So I knew that I could justify the extra 40,000 that I I listed the property for. And I didn't just, you know, not meet the appraiser. I went down there. I put you know, well I didn't meet him. But I put all kinds of comps on the table. So when he walked in, he would see that I let I left him a nice letter explaining how I got to the list price that I got to okay, I don't just hope it appraises. I am a real tour I professional real tour, I do the work, I don't just set a sign in your yard and pray that it will sell. Okay, so I do what I know I need to get done to to make sure that you get that top dollar for your property. So congratulations, Miss Mary. Now moving on, we have a couple more congratulations. Now here's one of my clients. She came to me I sold her her first home, Miss Ralina. So we just sold her property. And we're going to be closing on her new property on the same day. So congratulations, Miss Ralina. We sold her home for top dollar as well. And I was able to secure her her new dream home. And we're going to actually close on both of those simultaneously. So thank you so much for trusting me. And I'm so thankful for my clients. I'm thankful for all your guys's referrals. So if you're just tuning in, my name is Monique Buchanan, and I'm the host of the welcome home with Monique show. I'm also your local Las Vegas Real tour. So if you're just moving to Vegas, you're not quite sure, you know, hey, where are the good schools? Where should I go? Where? Where's family friendly or where's the nice area near where I'm going to be living you know what I mean? I am your resource, I can assist you. If you're just relocating. I can assist you if you're thinking about listing your property, I can assist you if you're wanting to purchase another property. And especially this guy's so you guys know unfortunately, I lost my mother last year. And you know, Miss Sheila Simpson, love you, mom. So I lost my mom last year. And that actually opened up a door that I hadn't really explored too often in real estate, which is probate. I had to go through probate myself with my mother. So that I've been taking on a lot of more customers that are going through probate probate is not easy, okay. There's a lot of, you know, a lot of navigation that has to happen. So if you are in the middle of you know, going through probate, I just want you to know that I can simplify selling your inherited property for you. I've went through it. Since last year I've sold quite a few probates so I know the process. I have a couple of probate attorneys that I have partnered up with so Oh, yes, I can help you if you have inherited a home and you need to sell that property. I am definitely here to help you with that I actually have a probate actually to right now that I'm selling so I can help you also with probate you guys. And once again, my name is Monique Buchanan. My phone number 70298437007029843700 You can check out my previous shows on YouTube. My YouTube channel is welcome home with Monique. My IG is at realtor Monique Buchanan. I spell my last name BS ch a n a n. And last but not least my website is welcome home with unique.com Okay, so let's jump on back into it guys. I was talking about purchasing and I'm talking about how you should definitely do it now. Listen, don't follow the crowds. Guys don't follow the crowds. Whatever you do, I've been selling homes left and right. And I've been putting my clients and won't be and my lender I should say, have been putting a lot of our clients the majority of them into something called the two one buydown. There's a bunch of different buyer downs. Okay, this is not an arm, this is not something where you just don't know what your payments gonna be. And it could be this one day and then another the next day. No, ma'am, no, sir. That's not what this is. So basically, when they started raising the rates, you know, they came up with some programs, that would help soften the blow when it comes to the mortgage payment. So what they're doing is they're buying you time where you can afford your mortgage payment, while we wait for the feds to go ahead and lower those rates. Okay. So instead of, you know, waiting for the rates, and everybody to jump in the pool at once, or like I said to rush the store doors and you know, start snatching up all the Black Friday homes. Instead of that happening. Go ahead and buy now, let me negotiate me and my team will negotiate the seller, we can negotiate him to pay for your buy down. Okay, that's what I've been doing Left and Right guys, I've been able to negotiate closing costs from the seller. And then what we're doing is we're taking that closing cost, and we are applying it towards your buyer down. Because right now the rates are sitting at about and don't quote me, I was just given us information from my lender, I am not a lender rates change every day. So with that being said, the last I was told was around 7.1 to five. Okay, so with that, you can buy down your rate to, you know, down to the to the fives even you know what I mean? So that you can afford that payment. Just to give you an idea. Let's let's talk about my client that bought a $500,000 home, right? Did the two one buy down? This is how it went for that that client the very first year? Because we bought it down two points, right? Her interest rate was 5.175.

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Her payment was around $3,100. Okay, that was for the year one. So let's pretend that that just happened. Okay, I know when it happened, but let's just say that it just happened. So for 20 to make it easy for 2020. For her, her payment will be $3,100. Okay, now that's where we are expecting the feds will go ahead and lower the rate sometime in 2024. You do not have to wait. Get rid of that myth in your head that you've heard that once you buy a house, you have to sit on the house for so long before you can refinance. That's not true. That's only if you use a grant program or something like that. And even with that, you can still refi you just have to pay whatever money they gave you for your down payment back. They'll prorate it. But if you did not use a grant program, you don't have to wait. Not at all, not one bit. So if you buy your house, let's say this lady bought her house for $500,000. In January, her her for 2024. Her payment will be $3,100. Because I got this or me and my team secured the money from the seller and bought her rate down by 2%. So her first year's payment will be $3,100. But guess what, in April, the Feds lower the rate back down to 4%. Guess what she can do? She can refinance out of that right away. And go ahead and take advantage of that 4% rate. That's what I'm saying you can do. So let's pretend that the feds don't raise the rate. Now, year two, she'll go up to a $3,300 payment, right because now she's at 6.175. So year two, she'll have a $3,300 payment that gives her two years to wait on the feds to lower the rates, right. So if it doesn't happen by the third year, you're just gonna go back to what you would have had year one, which is the 7.125 rate. So you can go ahead and just it'll be 7.125 all the way till you're 30. Okay, so just keep that in mind. So I think that this has been a great tool for my class. I ence and I hopefully, you know it will work for you as well. If you're just jumping on and you're looking for a real tour me and my team would love to assist. Our number is 702984 3700 702984 3700 Welcome home group. And I am oni Buchanan, the host of the welcome home with Monique show, and we will show you any properties here in Las Vegas. But yeah, we're just we're selling homes right now because I truly believe that this is the best time to buy because I've been through it when there was multiple people out looking in there you know, standing in line looking at the same house literally outside of the house, there would be you know, four or five and six realtors out there with their buyers. We're going to get back to that guys. As soon as the Feds lower the rates, you can best believe you're going to have a lot of competition which means a lot more money out of your pocket to buy a home. So let's talk about brand new home builds quite a few people that are moving from out of town have been reaching out to me because I have this property that is 4425 square feet. It's a six bedroom. But what makes it unique is that it has a one bedroom apartment attached with full kitchen washer dryer, full bath and their living room. The works you guys and it's attached to the main house. So a lot of clients are reaching out to me for that. Because what they're doing is they're simply renting out that space and letting that subsidize their mortgage. You know what I mean? Because a lot of people are renting those one bedrooms out for like $1,400 Well that's $1,400 off of your 4400 square foot home. You know what I mean? So six bedrooms, that's including the one bedroom apartment. Those are going for around 660,000 You can get those with up to a 10,000 square foot lot. All right, I know where those are. If you want more information 702-984-3700 We'll get you out there to see those. Now that one the 4425 square foot that one is a two storey they have another two storey that's just a little bit under that one in size, but it also has the one bedroom multigene attached. It is 3745 square feet brand new homes, you guys brand spanking new, six bedrooms as well. That's, that's with our including the one bedroom apartment that's attached to the home. All right, the multigene. That's what we call that. That is going for 620,000. You guys, I've done the legwork. Nobody else is giving you this much square footage for these kinds of prices. You guys even resell properties that don't have a one bedroom apartment attached. Just a single story, regular 3000 square foot resale property is going for around the same price. Once again, these are available they have them as quick as the November December move ins. So if you're just moving here and you need something quickly, they have a lot of these already built and ready to go. They do have a single story option as well you guys. It's 2754 square feet. And it's a ranch style property. By the way, all these properties of mentioning have three car garages. Like I said, you can get a lot all the way up to 10,000 square feet. They all have three car garages. It's near the freeway. It's a gated community. But yes, this one's also a five bedroom home and that one is going for around 607,000 That's a single story 254 square foot home with a one bedroom apartment attached to it. And remember, these apartments have outside doors. So somebody that's living in his apartment you would literally never have to see because they'll have their own access to their apartment without coming in your home at all. I really love what we call the multi Jin's very few out there very hard to find. But I me and my team can take you to these so you can see them in person. If you're interested. 7029843700702984370 This is a brand new home. All right, they can be ready as soon as November possibly even sooner just depending on which model you're looking for. I do know that the single stories are coming up sooner even so you can move in even before Halloween more than likely with a single story ranch style with a multi chin. Alright, got a new listing alert for you guys. The address is three to four cane street. That's what the k three to four cane Street. This property is just listed under 325,000. And the lot size is almost 7000 square foot lot. It has RV parking, three bedroom, and it's just over 1200 square feet. It's 1249 square feet, you guys. So new listing alert. I want to give a huge shout out to my partner, my team member Alexis Johnson, love you girl happy birthday. And listen, you guys, I'm here for all your real estate needs. I appreciate each and every one of my K UMB listeners. And until I hear from you have a blessed weekend. Thank you for listening. Please remember all terms discussed are simply an estimate my license number is S 1788 46. My phone number if you'd like to contact me is 702-984-3700. You can also find me on YouTube and please join me tomorrow at my church Living Word Church on hassle. I'm part of the EXP Realty Group. All right tune in next week.

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