Welcome Home with Monique

Kevin Krall 0:00
The content of this program is paid for by Monique Buchanan LLC. The content of this program does not reflect the views or opinions of 91.5 Jazz and more. Or the University of Nevada Las Vegas. You see me

Unknown Speaker 0:25
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. Well, hello, hello, hello Las Vegas. It's Monique Buchanan, the host of the welcome home with Monique show, your favorite realtor or relocation specialist, me Monique Buchanan. Hey, guys, I hope that you're having an amazing, amazing weekend. I'm just enjoying the beautiful weather that's finally come back around. It no longer looks like my home Seattle. So enjoy the sun out there you guys listen, I want to talk about a couple things today. I want to kind of revert back to talking to you guys about about I should say, brand new home construction. Why am I talking about that? Well guess what guys is pretty much all that's left out there to buy. Market is crazy. I know it's March Madness behaves. It's been madness in Las Vegas in the housing market for quite some time now. So if you're just getting here to Las Vegas, please know that we were on fire with our market even before the pandemic. So when the pandemic hit, it really just you know, took a hold of our inventory, and squeeze squeeze squeeze to where we only have on average 1800 to 2100 properties or units for sale in the entire state of Nevada. So not just Clark County, which covers Henderson Las Vegas in North Las Vegas, the entire state, including Boulder City, actually, I might as well throw that in there. I think the last time I looked Pahrump only had a little over 100 single family homes for sale as well. So we are in a dire shortage of properties, resale properties. What do I mean by that resale just simply means just like it sounds a property that's being resold. So it's not brand new construction, it's a resale property. And it's just you know, there are few and far in between I did a search today for a client. And we were looking for a property that was $300,000 or less. That is what his budget allowed. And there were literally only 300 homes in the whole state at that price point. So just letting guys know, you know, even if we were to do something along the lines of, you know, let's say what's our average price, we'll shoot We're almost up to 500,000 or less, right? That's where we're at today, for just a regular, decent little house, you know, in the whole state of Nevada, today, we only have 800 homes for sale that are 500,000 or less, that is the entire state. Why am I talking about this money, because I want you guys to just prepare yourselves if you're thinking about purchasing and kind of educate you on the current market, because a lot of times we'll talk to family members or friends and their hearts mean well, but they're thinking about when they purchased. And a lot of times guys listen, when they purchased it was a completely different market. So although they mean well, their advice is not exactly up to par with what with what is going on today in today's Las Vegas market. So just keep that in mind for all my folks that are you know, listening to the co workers. Well, you know, do you think I should buy Oh, no, wait, wait, there's going to be a crash. Oh my goodness. So listen, even if there was a quote unquote, crash, okay, even if there was which I definitely don't think there would be a crash, there's going to be a correction. But even with a correction of the market, which market goes up and down just like the stock market, you know, I totally want to point out that rates are still on the rise. So even if we were to be blessed and lucky enough to have the market come down where the the average medium home price is no longer at like 440 Maybe it comes down to 400 or 480. Well guess what the rates are on the rise there already. They've already went up almost two and a half points since December. And they're continually rising. So what does that mean that like I've used my my analogy before it's like shopping with your credit card for sale purchases. Well guess what? You just didn't get the cell because you use your credit card because of the rate you have to pay the interest on that credit card. So it's the same thing you guys so it's like a catch 22 So why am I talking about brand new home builds? Well, that is one of the options that is still on the table for my buyers that are looking to get a piece of Las Vegas you know, get their foot in the door, as you know as you want to say and become home owners and all on a piece of Las Vegas, there are still plenty of brand new home options. But I want to run down some things that are going on with the brand new home constructions. And the builds, they're taking a little bit longer to build, because obviously, there's a shortage also of supplies. So it's hard right now, for the builders to even secure the supplies that they need to build, not to mention, secure land for them to build on. And like I've told you guys, before, I know that it looks like we have a lot of land in Las Vegas, but we really do not a lot of and most of the land that you see, you know, it's owned by the aviation or BLM, Bureau of Land Management. So they do release small portions, you know, from time to time, but we're really land poor in Las Vegas, North Las Vegas does still have a bit of land, but you know, all these costs are going to be poured onto the buyer. So we've seen now that our costs have, you know, really went up, it's almost impossible to find a house for 300,000 or less, you know, and just what was it a year and a half ago, I could have easily found one. But you know, that's just where we are in the market right now. So we all wish that we could have you know, had a crystal ball, or maybe listened to Monique

Unknown Speaker 6:21
for the last three years saying hey, buy, buy, buy, buy now, you know, but it's okay, that's okay, you know, you're at a point right now where you can purchase, please go ahead. And you know, do so go ahead and lock something in because like I've had so many conversations with so many people, I must get the phone call three to five times a week, hey, my, my rent has went up three to six $700 in some cases. And unfortunately, Nevada has no rent cap guys, no rent cap in Nevada. So it's not like California, we do not have a rent cap here, they can continue to raise your rent, every single time the lease is up. So just keep that in mind, you have no security. Being a renter, you know, you're kind of just at their mercy. And then you better check your lease. Because if they put a clause in the lease that they say that they can sell while you're renting, they can do so they can give you a 30 day notice and sell the property even before your lease is up. So you might want to make sure to check those leases that you guys are signing, to make sure that you and your family have some kind of a security, you know, when you're signing that lease, so that's a little tidbit for me to you. Okay, you guys also know that I love to break up myths. Okay, the one big myth that I've been trying to break up for years now. Or I should just say some I don't know. I don't know a misunderstanding. I don't know. But here it is. A lot of folks out there think that it's okay to go it alone when you're buying a brand new home. Oh, don't worry. Just do it yourself. Well, couple things, guys. It costs us zero to have representation by your realtor. Okay, it costs you zero, at least for me. I don't charge a cent me and my team a penny to represent you when you're buying brand new home construction. Why? Because the builder has already put in their budget, realtor fees to pay realtor fees. So do you get a discount? If you don't use a realtor? No, you don't. You know, what happens is it's like you're going to court with no attorney. Okay? And guess what? This attorney is pro bono. And you're telling the pro bono? It's like, No, I don't want to I want to do this myself. Well, we all know that that's not you know, that's not a good idea, especially with one of the biggest purchases of your entire life. There's just no need for it. We don't charge you anything, at least me and my crew. We don't me and my team. We charge you nothing for buyer representation, when you're going to look at new construction. Some things that go in, you know, there's a lot of things that go into brand new home construction, you really do need buyer representation because that smiling face, when you walk through those doors, they do not have your interest and they'll tell you, they'll tell you straight up. I work for the builder. My interest is with a builder. So they do not work for you. They do not have your interests at heart. They have the person that signs their check. They're their boss, the builders interest, okay, that's who they work for. So please keep that in mind. Yes, a lot of them are beautiful. Yes, they smile. Yes, they're very friendly. Some of them even have cookies. But guess what, at the end of the day, they don't work for you. So you need to make sure that you know your realtor is with you present when you go into these beautiful model homes to go look on that Sunday drive. Because a lot of times what they'll do is they will lock your information in your name for a whole year. So even if you're just browsing, you will not be able to be represented in many cases by your realtor. If you walk through those doors, the First time without your realtor, it's very nice that you say, Yeah, I'm working with a realtor. Oh, you are okay, great. Okay, well, is he here? No, he's not here. But I'm working with the realtor. A lot of times, it's very nice for you to bring that up. But they don't, they're not going to honor that. In many cases. If you do have a new build agent that says, hey, listen, I will let you use your agent, I understand you have a realtor, what you want to do is make sure to have her give you what's called a registration form. And write your Realtors name down, that you're being represented and either take a picture of that form, or just make sure you get a copy of that form, okay? But I highly, highly, highly, highly suggest making sure your realtor is with you. I'm sure any realtor, especially myself, we'll jump right up and drive on out there and meet you no problem and get you registered. Once. Once you get registered, you can go back as many times as you want. And you're fine. Okay, so there's that you guys now what does the realtor do for you. And once again, three buyer representation. So she a lot, at least I'm speaking for myself, cost nothing for representation. I'm a pro bono lawyer per se. You know, just basically trying to give you that because really, if you go to court, you don't want to go to court without a lawyer, same thing, you guys, okay, you want somebody to have your back, have your best interest, look over that 100 Plus page contract. In many cases, yes, that's how many pages a lot of builders have when it comes to their contract that you're about to sign. Now, you know, this is your Realtors lot of you know, line of business. She understands the jargon, all the contract details, and things like that, you know, so you definitely want to have her look over that contract for you. We also will explain, you know, that you don't want to get carried away in the upgrades department. So when you go to the Design Center, we've got to go with you and make sure you don't get crazy in there. Because at the end of the day, there is a chance that you'll have to pay the difference in appraisal. See people don't know that you want to do it yourself. But yet you don't know these small little details that can end up costing you 1000s and 1000s of dollars because what we don't know what we don't know, right? So there's absolutely no reason not to use your realtor. Okay. Also, we're going to ask the questions that you don't know to ask because this is what we do. At least I am a full time realtor for over seven years. This is what I do full time. I you know, I love the process, the whole new build process. So I know the whole process. So I can explain to you what is normal in the process and what may not be normal. For instance, right now there's a shortage of supplies. You know, you're wondering, well, Monique, why don't I have a sink? You know what? Well, we're not quite done yet. But there's a shortage of supplies. So yes, right now, I've even heard of builders having to go to Home Depot and buy sinks. So we have our finger on the pulse of what's going on in the market. Okay, so we are also your liaison between the builder. Okay, so a lot of people don't want confrontation, if something is wrong with the person that's building their home. So it's awesome to have your realtor, be that middle person. Okay, that's what I am. I am your middle person, you tell me what's going on. And then I will go negotiate and handle the issue. Okay, me and my brokerage will stand behind you. And I've had an instance, let me just share the story with you guys. I had a client, she didn't know any better. God bless her heart. And she went into the builder, they would not allow me to represent her. And she you know, said, Well, I told him that you were going to be my, you know, agent, but unfortunately, I won't say the builders name, but they would not allow me to go ahead and represent her. Well guess what? Almost towards the end of that deal. She was doing her final walkthrough. And when she walked through, she realized that that was not the same. Or the the, the length of the island was not the same as what she, you know, had

Unknown Speaker 14:17
had in mind or that was discussed. So she called me and I told her, you know, there's not a lot I can do, I'm not allowed to really, you know, jump in because, you know, I wasn't able to represent you. So she said, Okay, I'm just gonna call them and let them know. Well, she had a really rough time. I'm just gonna say that okay, a really, really rough time. She never got it fixed. Okay, it was not fixed. And I think that they gave her a very low amount as a credit because of it but that now she's living with this. You know, the the main reason she bought the home was because of how big the counter the island I should say was and now she ended up with an island. That was not what she had planned on. So just you know, There's things that can happen. Maybe the elevation that you chose is not the things happen where people were humans, we make mistakes. But do you want to be the person that has to go to the builder? And go back and forth with them? Or do you want to have free buyer representation? And have your realtor represent you? And go ahead and fight for what, you know, should have been happening and we'll get done? And if not, have you properly compensated, you know, and, and that's it, you guys, we are your liaison. You know, don't there's no need to go it alone? Absolutely. No need you guys honestly. So just keep that in mind. Because like I said, there's a multitude of things that we know, need to happen, we're going to make sure that everything we discussed initially is in that contract. Okay? A lot of times, you know, after you've looked at the third or fourth page, you're just you know, your eyes are glazing over. You don't know what's going on at this point. But as your realtor, we know what sections to jump to, and make sure all the things I really truly matter. Are there. Okay. So once again, please don't go it at your own. Don't you don't have to do it. Okay, this is Monique Buchanan. I am your local Las Vegas Real tour if you are thinking about purchasing or selling your property, I am available to you and my contact information is welcome home with monique.com. My phone number is 702984 3700 702984 3700. And you can also follow my YouTube channel and that is welcome home with Monique show. Please subscribe in like, I sound like my kids now subscribe and like please. But really you guys another thing is you know, when you go on these websites, look at the brand new homes, a lot of that information is outdated. Because the market is so hot. A lot of the brand new homes right now are going up in price almost weekly, definitely monthly. And a lot of times they just don't have the current information that's available. Or if the inventory, you know, sometimes they're sold out and you don't see it online. So your real tour, like myself, we actually drive around and get the current information. We even have, I have contacts with quite a few of my new home construction agents that will send me what we call quick sales or standing inventory. So I get first dibs on that as your realtor, they're sending me that saying hey, Monique, we had a buyer Fallout, we're gonna let you and your clients get first dibs. This is what we have available, they can move in in 30 days. So as your realtor I get that information sent to me, I get list sent to me of properties and opportunities that otherwise normal buyers would have no idea of. So once again, free buyer representation, okay when it comes to buying brand new homes, free buyer representation. So with that being said, I want to talk about a couple of properties. Over the weekend. I just sold three of these little townhomes. Okay, and the reason that I sold three is because they are under $300,000. Okay, that's like, like I said, you can't find anything and this is a brand new home built. Okay. They are townhomes with two car garages, tankless water heater, all the upgrades included. Okay, we're talking appliances are you know Samsung Moen, and you know beautiful countertops, porcelain and they have granite. They let you choose in many cases, but you're getting everything you guys for? You know, no upcharge Okay, so the final price is the final price with these townhomes. So it's a very unique opportunity. And I was able to sell actually three and in 24 hours, I sold three to three different buyers. So congratulations to the Louis's Devin and also the Bryan's took me a minute, wait a minute. Yeah, so congratulations to them, you know, they were able to secure this property. And you know, they're very, very happy. They're gonna have a brand new townhome, they go all the way up to 1500 square feet. One can the 1500 square foot can be turned into a fourth bedroom, or a three bedroom with a loft. Guess what guys? That is just under $300,000. And you heard me right there is no, this is not the starting price. Like I tell you guys, when you're looking online at the houses, that is just the base price or the starting price, you still have to pay for your lot. In many cases, the lots are going for 10,000 and above. A lot of times it goes all the way up to $35,000 On top of that number just for the lock. So you have to pay the dirt pay for the dirt that you're building on. A lot of people don't realize that so they're driving around they see oh, look at that mid three hundreds. Oh, that's great. Mid five hundreds. Oh, that's awesome. Well, yeah, so the starting price is 550 but by the time you get the dirt you're already out Was that 600,000. So just keep that in mind. And that's before you put any kind of, you know, fancy flooring in or fixtures or anything like that. So you definitely want to keep that in mind. But with these particular townhomes, these were perfect for my buyers because they had a, you know, a price point that they want to be at 300,000 or less, which is a very difficult price point right now, because it's the sweet spot for a lot of investors as well. So they did not have to fight back and forth with investors or get outbid, and they're heartbroken 15 times, I was able to secure these brand new brand new townhomes for them without the fight. So they're extremely happy. Once again, 1476 square feet just under 300,000. If they've got another one, that's 1366 square feet, three bedroom, two and a half bath as well two car garage, and that one is going for just under 285. Okay, and then they've got the last one, which is 12 108 square foot. All of these are three bedrooms, the biggest one can be made into a four. But that 1200 square foot one, let me tell you, they they really laid it out beautifully. I do have that one on my YouTube channel, I do believe and that one was going for just under $273,000, you guys. So these numbers are an heard of right now in the market. And as you can imagine, they are selling out quickly. I sold a couple of the last ones that were readily available, but they do have a waiting list. So the waiting list is not that long as of what two days ago. Man after this show. I don't know how much longer it's going to be that not that long. But for more information. My number is 702984 3700 702984 3700 Welcome home with monique.com is my website. Again, welcome home with monique.com is my website. Okay, and my YouTube channel is welcome home with Monique show, you can check out my videos

Unknown Speaker 22:04
there as well. I also went and toured Henderson area, and they had some beautiful options over there you guys, one of my clients is wanting to move in that area. And she wanted a single story home. And let me tell you, I found quite a few lovely ones over there. So listen, they've got a couple that are going for around just under I should say 493,000. That's the base price. Remember that the lots can be from zero to 35,000. But I think on average, he said, these particular lots were going for around 10 to $15,000 Extra, okay, but this house was beautiful. It is a single story, ranch style 17 176 square feet, you know, three bedrooms, two and a half bath, it has flexpays what does that mean? That means like office space, you can turn it into another bedroom if you so choose. But what I really loved about one of their properties, or one of the homes that I viewed, it had the master bedroom and then you walk through what looked like was going to be a closet, but was actually a small gym. So that was like part of your flex space, you can make it into a very small little office space. It also went directly out into the patio and outside, I just thought that was really cool. I also liked the fact that the master was on the opposite side of the home. So the other rooms were completely on the other opposite side of the house. And they had their own little living room, which was the other flexpays. So a lot of us because of the rent, our kids are moving home. So let them have the other side of the house and their own living room. So anyways, you guys, I'm being silly, but honestly, I love the single story homes, you'll notice that they're hard to come by, you know, you'll see more two storey homes because obviously they take up less land, it's easier and cheaper to build straight up than just to build single storey. So if you driving around, take a look, you'll see way more, you know, two story homes and that's why so but a lot of people need that the single story, you know, folks have bad knees and and maybe it's just me, but no, you know, there's plenty of reasons. You know, I don't think that I want to continue to do these stairs myself. But But yeah, single story homes out there in Henderson are available for under 600,000. And guess what, there's no waiting list for these properties. And guess what else? They're actually still giving incentives. What does that mean? That means that the builder is willing to give a credit towards your closing cost. Okay, that's phenomenal. That's awesome. So that is still the case in many of the brand new home builds. Another one of my very favorite places, they they build custom homes. And they've got a couple that are well they've got them all over the the valley actually. And but one of the ones that I'm about to speak on It's over in the northwest area. They're also a community of nothing but single storey homes, okay? They are beautiful. They've got fireplace in the great room, they've got a study, they've got, you know, it's just to the nines, you know, walk in shower, those huge walk in showers with the rainfall. And guess what you're getting all of that, you know, to Bay garage. All of that for under $462,000. That's in the northwest area, they do have the same properties over in the new Sky View area, which if you're not hip, and you've heard of sky Canyon, they now have a new area called Sky View, which is pretty much like neighboring providence. So you've got the beautiful view of Las Vegas. And let me tell you, this custom home builder is building over there as well. They go all the way up to 2100 square feet, they're single storey, and you know they're under $600,000. So that's amazing. Again, we have to buy the locks and all that and get your upgrades in there. But they come with a lot of amenities out the gate. They have 42 inch cabinets, you know, that's usually an upgrade, but it's actually included, the you know, they've got the 17 by 17, ceramic tile flooring, that's included, the Paver driveway is included. You know, so here's the thing about brand new homes, you guys, they are Energy Star certified, pretty much all of them are in, you know, the ones that I've been viewing, they all are, what does that mean for you as a consumer, that means that we live in the desert. And when the heat comes my average bill in my resale property. During the summer, I have a 2300 square foot home. During the summer, my average bill used to be before I got solar, because I couldn't take it was around 350 to $400 a month in the summertime, it was just crazy. So because my home was older, and it is not ENERGY STAR certified, you know, my appliances are not all brand new and ENERGY STAR certified, you know. So I don't have those, you know, the window, the double pane windows and all that all that stuff matters. So now, the brand new homes, typically the same size as mine with because they're brand new, and they are Energy Star certified. Even in the summer there, the bill is typically like 150 to 180. So that saves you a ton of money by buying brand spanking new. So I just love brand new homes, I've always loved renting homes, I mean, besides me loving to walk in there with you guys and look at the properties and and point out what comes with and what doesn't and what your options are and go over everything with you. I love that. I absolutely love it. But I also have your back. And that's what you want is someone that's going to have your back throughout the whole process. So that's me, Monique, you can and I think I've only set my name, I know my number a couple times 702984 3700 If you have been thinking of purchasing a brand new property, please please, please, there's no need for you to go it alone. I will go with you. I will check it out. I will meet you there. We will go over everything together, I will ask the questions that maybe you just don't know to ask because guess what? We don't know what we don't know. So that's why I'm here. Anyways, you guys, if you've been thinking about listing your property, please don't forget to remember me Monique Buchanan, I'd love to assist my information again, 70298 or 3700. Now, if you're thinking about listing your property and buying a brand new home, keep in mind, a lot of times right now, they're not doing what's called a contingent sale because the market is so hot. So you'll need to find somewhere to also keep in mind you'll need to find somewhere to stay or live after I sell your property. Because in many cases, it can take a couple months before your new property is available. But also, I can negotiate what we call a rent back. But that can only be up for two months, we'll have to find a short term rental or somewhere for you to go. Okay, agents out there that are listening. I actually get quite a few of my colleagues other realtors that reach out to me maybe they heard the lender. And you know, they're like, hey mo who's that lender? I never ever mind sharing you guys love y'all. I know we're all out there working hard for our wonderful buyers and sellers. So let me share this with you. I'm actually my team is having a mastermind session so that we can all stay sharp and on top of our game, guess what, it's free of course, and there will be food provided. Just make sure that when you come and you join, tell them Monique, you can incense me and it will be free to you and come on out learn something, something that can help your clients your business. Let's grow you know what I mean? So anyways, it's this Monday. All right. It starts From 10am to 2:30pm, and it will be at 233. South Fourth Street, Las Vegas, Nevada. 8911. That's downtown. So 233 South Fourth Street 10am to 2:30pm is a mastermind session. Okay. Hey guys, that's the end of this show. I love you. I appreciate you. I thank you for all your referrals. And I pray that you guys stay safe. And God bless and until I hear from you

Unknown Speaker 30:35
thank you for listening. This is Monique Buchanan. My license number is S 1788 46. And I am part of EXP Realty. Tune in next week.

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