Welcome Home with Monique

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This is a k u and v studios original program. The content of this program does not reflect the views or opinions of 91.5 Jazz and more the University of Nevada Las Vegas or the Board of Regents of the Nevada System of Higher Education.

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You see me?

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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.

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Well, hello, Las Vegas. It's Monique Buchanan, the host of the welcome home with Monique show. And listen guys, if you guys hear the happiness in my voice that's right. It is my birthday tomorrow. So I just want to say thank you to the Lord my savior for letting me see yet another year. You know, and I've been just so truly blessed. If you're just tuning in, you don't know who I am. I'm Monique Buchanan. I am the host of the welcome home with Monique show. I'm also your local Las Vegas realtor here in the beautiful Las Vegas Valley. But first and foremost, I am a wife. I'm a Christian woman. I am a mother and I am a friend. So nice to meet you. I'm only Buchanan. Listen, I am recording this show today on a Thursday. So just as previous Thursday was national bring your child to work day. So I have a great show for you. We're gonna talk about some downpayment assistant programs. We're going to talk about the current market and all that great stuff. But first, I want to introduce all of you out there all of my K UMB family. You guys may have heard my little girls come on before Miss Miss Malia and Miss Sasha but I've got my niece's on today as well with me, Miss is male, our should I say Melanie and Miss Mikayla. So it's a it's a Bring, bring the babies to work day.

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And also have my sister Alexis Johnson you guys have heard her come on the show many a time. She's also a realtor here in the beautiful Las Vegas Valley. She does high end listings and and buyers as such. So she's on as well. These are her beautiful daughters. So I'm gonna go ahead and introduce you first and foremost to the eldest at the table. Miss Melanie, you want to say hi, Mel. Hi, my name is Melanie Johnson. I'm

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gonna show they're so soft spoken. That was great mill. So yeah, I told them say your name and say how old you are. So Melanie is 13 soon to be 14. Right. And then Miss Mikayla, you want to say hi to all the came and be listeners. Hi, I'm Michaela Johnson and I'm nine years old. Yes, she is. I wish you guys could see how beautiful they are. All right. It's your turn. Hello, Malia and how old are you? And 10 What's your name? Malia. You can yet okay. How about you Sasha?

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My name is Sasha Buchanan. And I'm seven. She's seven. Okay, so we're gonna bring them on. But first, I want to also introduce my sister once again, Alexis Johnson. And those were her her babies. Melanie Mikayla. Hello.

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Hello, everyone. All right. So we're gonna go ahead and jump into the show. We're just going to talk to our daughters about what it what it means to them. homeownership, us being you know, their mothers being in real estate. So let's start with you male. I mean, what what how does it feel? How do you feel about owning your own home with you living in a home that you know, is your home is not going to be you know, you're not going to have to pick up and move or does that even matter to you at all? I know you're a teenager. Does that matter at all? Yes, it does matter because I don't want to be my friends in my school. And I love my house. You do love your house and you have a beautiful, beautiful home. You guys moved into that house just a couple years ago. What do you like best about your home? What I love best about my home is my backyard. It's really vague. It has a Casita, which is another house. Yeah, cuz you plan on moving into that Casita, don't you.

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Even as soon as

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you guys should see my sister's face, right? We always have that one child that just wants to get away from us, right? No problem. So you said you don't want to you don't want to switch schools because it's true. When when, if your mom and dad was renting is very likely that they may have to switch homes and rent to another home, right? So at least now, with mommy and daddy having that home and and they bought it, you're gonna be there and you know that you can grow up there and you don't have to worry about switching schools. Well, that's a valid point. That's a valid point. Okay, Miss Mikayla. What do you think? I mean, what do you do you think that it's important that you own your home or what do you like about your home? Yes, it's really important. I would not want to move because I have like, all the people I love here. Oh, you love your neighborhood.

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And yes, I did you do you guys have a great neighborhood? All right. So it's important to you that mommy and daddy owns their home. And do I mean,

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do you think it's important that you know, even when you get older, you'll be able to come back to that house? Oh, yes, of course. Right. Okay, how about you? Malia? What do you think about mommy and daddy owning a home? Is there any difference in like, if your friends that are renting, and maybe they have to, you know, move schools? Or would that matter to you? Do you mind making new friends? I mean, what are your thoughts on on owning a home?

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I say it's good. And also, the reason why I love this home is because it's if I had it since I was four, and it's my real home, and I have so many memories there. And that I wouldn't want to make new friends. I have all my friends here. And I have good memories in his home, and I love the home. That's good. That's very good palate points as well, the memories that you make in the home over the many years that you stay there. Right. Okay, Sasha, what do you have to say about your house and by the way, you guys were, we actually have, we're listing our house we're putting on the market. We're about to buy a new home. And Miss Sasha honey, she does not like change.

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So she's not too happy with mommy and daddy selling the home that she's been in since she was nine months old. But we are going to be upgrading like you guys have heard me talk about so you might have you might hear Sasha complain a bit. But go ahead. Sasha, what do you think about the current home that we've been in?

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Does that matter to you? Yes. Okay.

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You want to expand?

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Why does it matter to you that we're selling the home? Why does that bother you?

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Because they have a lot of memories.

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And like on Easter Day when our boy

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Oh, yeah, on Easter when you were four when we did Egg Hunt. So you remember that. And then you also pointed out that our hands are in the concrete in the back. And you didn't want to leave your handprint there.

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So, okay, so that makes sense. But like you guys have heard me say, and that's actually a very good segue. Me and my sister who's also in real estate Miss Alexis Johnson, we're going to be talking about if you currently own a property, upgrading and not letting that window shut on you to go ahead and make that leap of faith and upgrade your property if you want to get into a bigger home, or even downsize. But before I do that, I do want to get the babies one more thing that I want to ask them and I know my sister's gonna look at me like I'm crazy, but All right, let's start this way. Now. How do you feel about your guys's mommy's being in real estate? You want to start Malia I know you were laughing and making fun of me on the way over here. So you want to tell my listeners you know, I'm an open book. Go ahead.

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So I was saying in the car, how she's always on the phone trying to help people and things she She's everywhere we go. But Keishon or anywhere she's on the phone hoping suddenly. And that's why I love my mom very much. And that's what I think about her being. I will say she's a very hard worker, and she's the best mom I have ever had. And she is the best friend that everybody should have. And she will not leave you behind. She will help you. And she's a very good real estate. Well, thank you, honey, that was not a paid ad ad. Let me just put that out there.

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Thank you, honey, Mommy loves you too. I appreciate you guys being patient with me while while me and Auntie Alexis try to help as many people as we can get homes like you guys. So I appreciate that. Now, Mikayla, what do you have to say about that?

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I think I like my mom being a real estate agent because if she like is selling a home she could like get a lot of money for it. She can find me like a lot of toys. Hey, we're keeping 100 on this show is true. So Mommy gets paid and that helps to fund the home of course so she's she's bringing home the bacon.

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About you male.

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How I feel buddy. I feel like it can be good and bad sometimes. She sometimes can get frustrating if I shady sometimes and sometimes she gives me like really in a happy mood. It depends on if like it's going good or not. Sometimes when she closes a house we get to go to Disney World

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to be fine mess right? So Mommy is very passionate and me and her both are so you're right. We will get frustrated if we don't see that things are going away for our clients because we care about our clients. So it is frustrating if you know things are not heading the right direction but me and mommy work it out honey we get it going in the right direction, which gets you to Disneyland.

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So those were honest answers and Malia Sasha Do you want to say anything? You're the only one that didn't say anything now you guys I'm holding on to my boots. We don't know what this Sasha is gonna say. Spicy. Sasha, what do you got to say about mommy doing real estate

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and

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anything, how do you feel about mommy on the phone or helping the people or what do you do? On the phone? That's

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not your type. You know, Michael, mommy's on the phone. Even if I'm helping people, honey. No. Okay, well there you go. There's your honest answer you guys. Well, thank you lovely ladies for coming onto the show today. I appreciate you guys and we know that you guys are the future and it looks like we have a very bright future ahead of us. And I don't think all of them are gonna go into real estate you guys

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can't even be listeners I have a feeling that you know half this crowd over here is not going to be a real estate business. But at least they get to see their parents and their moms you know making moves trying to help families become home owners and get their dreams answered. And yes our kids do sacrifice but I think that it's a well worth sacrificing and we make up for it in other ways right guys? All right. Well, we love you guys now we're going to do our real estate business. All right, Alexa, so the kids spoke honey the kids spoken they did not hold back.

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They did but let's talk about this. Let's let me give a couple shots out real quick too. We've got a couple shots out to give I've got the Diaz family we just closed on their per romp property. You guys hear me saying it all the time. Per rump is the new suburb of Las Vegas. Let me just say it Yes, I said it. Pahrump is a new suburb. It only takes an hour and a honey if you're from LA if you're from Texas, Dallas, Seattle, any anywhere around there. An hour is nothing those folks are driving an hour to work all day long. Am I right, Alexis? Valley. They are Yeah. And they're building so much out that way that that drive doesn't even seem like a hour drive. It's more more close to like 45 minutes. 35 minutes, five minutes. You're absolutely right. You know, Vegas has pushed out so far. You know, back in the day, you know, it was like an hour and a half drive now Mountain's Edge is so far up to the mountain that you're back in the city in no time at all. So congratulations to the DS family. We got them a single story home on an 8000 square foot lot for 330,000. You heard me right $330,000 You guys. So listen, we will get you out there. Get you into a home if that's what you're looking for in the budget is not here in Las Vegas. Our homes. Our average median home price here in Las Vegas is $450,000. So if your budget is around that you want to payment sitting at about $2,200 a month you want RV parking, what three car garage per month is where it's at, and I'm here to assist. And also Alexis so also congratulations to my lawyer friend. And now client Mr. Stafford he closed on his home. I'm sorry, he did not close. We went into contract on his three car garage. single storey. 3000 square foot home with a 10,000 square foot lot for $385,000. Guys he's getting keys. May 15. Alexis, Alexis, your another fellow agent? Can you find me a 300 and a $3,000? Or 3000 3000? square foot home? three car garage? RV parking for under 400,000 here in Vegas? No, ma'am. Are you sure? I'm sure I'm positive. I'm out there looking now. And if there is anyone that have a home that they're ready to list? Yeah, yeah. Because here's the thing. Alexis has some clients that she's working with. And they're about ready to go to Parag because you guys have been looking for how long Alexa formats for months, and what's their budget? Right, but right there by like, three 350 is where they want to stay. And it's been very difficult to find it here in Las Vegas, because inventory is very low. And when it does hit the market, it's going so fast. Absolutely. And don't even think about looking in the southwest area. I mean, you even if you have 450 in the southwest area, there's multiple offers, you're getting beat out, you know, it's already starting to happen. You know what I mean? You're thinking about selling your property, rolling over that equity, taking that two 300,000, whatever you're gonna make, and just putting it on to the next home so that your payment will be affordable. And then we will negotiate a rate for you by having the seller buy down your rate. So the houses that you guys were looking at Alexis, with your clients, how around how big were they for 350,000? They were just slightly over 1000 square foot so not even like an apartment. Yeah, we didn't even get like a driveway.

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And some of them are one car garage. So parking was an issue for it has been an issue for them. So they need that and they have two vehicles and yes, they have no parking. You also put up as an option for them by clients, the DS family. We were looking man we have been looking for about four or five months. And you know, they have they have five beautiful children. And

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they needed the bedrooms, you know what I mean? And then they need the space, you know, with five kids. So and then also, Mr. Diaz has a business

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So he needs that, you know, space for his equipment for his business and such. So at 350 they were, they're actually approved for the same amount. There just was no options here in Vegas that would really suit their needs. You know what I mean? The best thing that we could find was a townhome and that really didn't suit their needs. So, you know what she said, You know what, he owns his own business. And I can drive into Vegas, you know what I mean? So they finally said, You know what, that's it Monique. We're gonna go ahead and take you up boy when I took them to Pahrump we bought a home that is less than 10 years old on a corner lot. Like I said over 8000 square foot lot for the DS family. Wow. Yeah, kids have plenty of room to run around and and just you know, have so much fun and out and they can get their kids three wheelers, four wheelers, you know what I mean? Right, right. And $330,000.02 car garage, you know, and has the rooms that they need. So I'm so happy for them. But that's definitely an option. You guys, if you're just tuning in, I don't think I've set my number not one time. You can reach me at 70298437007029843700 Monique, can your local Las Vegas realtor 702984 3700 702984 3700 If you're looking to purchase a property, me and my team, which is also Alexis will assist on getting you out there getting you into the home that will suit your needs and make you happy. So let's jump back into this market. Now, a lot of times what we're doing is we're doing what's called a three one buy down with most of our clients. Right? Right. The reason we're doing that guys is because yes, you're gonna hear by the watercooler all the rates are high, the rates are high, don't buy what do you say to that when you you know, they're listening to their people at work, and oh, wait, wait till the rates, wait till rates come down then by I will tell them to marry the house and not the rate because the rate goes up and down. Yeah, we can refinance that. And within six months, I'm gonna write like six months. So the Romans actually you could refinance right away. Oh, yeah, no waiting. Okay. So there you go. So rates change every day, every hour, they're changing. So market, they go up and down. Right. And the feds have already announced that they will be lowering the rate. So we know we know it's coming. But the problem with waiting? Is it now you're you're about to jump into the pool with everybody else, right? So once those rates go down, just imagine so many buyers are going to come. You're trying to find homes and then then you're going to end up overpaying for a house. When you know right now, you could possibly find that home and not be rushed, because there's so many different buyers out there out bidding you right, because right now all my clients though, all my buyers that I have right now that are looking in the southwest community, they're already experiencing that, right. I mean, there are no homes for sale over there. Right. So when you do find something decent and pretty, guess what? Everybody wants that property. So now there's like five people that have already put offers in on the properties in the southwest and Henderson right. Yeah, I mean, so it's already happening. You guys are the writing's on the wall. They've heard me preach and preach and preach for the last, you know, year since the Feds actually raise rates last June, is as soon as that happens, so it slows everything down. Now you get to pick your home and not fight somebody for it. I know that me and my team, we're negotiating you have great. So like the majority of my clients, they still don't have today's rate, right, because I didn't put them in that me and Anthony put them in a three one buydown that I negotiated from the sellers, which can you negotiate closing costs from sellers right now? It's hard sometimes. Just you know, we're switching locations. Yeah, location, a piece of Southwest they have multiple offers. They're not going to be exactly yeah. So for the most part, there are some out there that are still paying the closing costs and contributing to the buy down. So you do have some out there still and the builders right now that's going to go away quick. You guys listen to me. As soon as these rates go down, these builders already have waiting lists right now. And it's starting, they already have Yeah, they have wait in certain areas. Yeah. So as soon as those rates go down, there is no reason that this builder is going to want to give you any closing costs or need to for what he's got, you know, people banging down his door to buy his product. So why would I contribute towards your costs, it's gonna go away. So with me, I'm selling my property.

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And I'm going to take the equity that I have, and you know, I'm completely transparent on this on this station. On my k u and v listeners are basically my my like my family. So I'm gonna walk away with about 200,000, maybe a little bit more, yes, within the next six months, once those rates do go come down, when rates come down, what goes up prices? That's right. That's what everybody doesn't seem to get. When the rates go down. The prices of the homes go up, because we are in a shortage of homes. Okay. So if I know I have a home for sale, and I know that I'm gonna have 20 offers on my house. I'm gonna hype that price up apps, it's in high demand, right? It's only common

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sense. So I'm gonna go ahead dump that. So let's let me give you the numbers, I'm going to take the 200,000, I'm going to make, I'm going to dump it towards my new loan, which is going to probably be around 700,000. Right? So now I'm only financing 500,000, which makes my mortgage more affordable, I get rid of the mortgage insurance premium, which is, uh, you know, you know, as long as you put 20% down, so now I get rid of that, because I'm gonna put over 20% down on the property. So that makes it affordable for me, and I get to choose my own home right now. Right, and I can negotiate some great terms for myself right now. I know so I'm not listening guys. I'm not just preaching this. I'm walking it out. I'm doing it myself. Right, Alexis? Absolutely. Because if I don't do it now, I know I'm gonna lose that negotiating power. Nobody's gonna give me money to buy my write down the seller of the house that I want is not going to be you know, prone to give me any any cash towards my my closing or towards the rate right now. Right? We won't need to. We won't need to. Yeah. So I'm jumping. Now. You guys I'm jumping out there and that water right now.

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So that's what we're doing right now.

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Deputy Yeah. So if they want to list their property, they can do that. Now if you don't want to list your property Monique, I see that Vegas is on the rise. You know, Sony just got approved. They're about to buy all that land over off a 215 a town center. You know Sony's coming here. You guys movie. The movies are coming here. So many different things are happening in Vegas. I've never happened. That's why I don't understand when people say, you know, it's so funny. You hear like, for years I've been saying, Oh, we're waiting. We're waiting for the big crash. We're waiting for all this stuff to go down. And guess what, guys? Everybody that that you work with? That said that? They're still waiting. And it has not happened? I don't mean to be a smarty pants. But hey, guys, look, while you while you waited with them? Everything went up on you? Absolutely. And that's what's gonna continue to happen. There is no sign of what would make things come down when we've got everything coming here. You know what I mean? California is pouring into here. Right? You guys have heard me say this is becoming the new little like, the prices are matching that to sure is right. How much change Have you seen in your real estate career in the last five years even less, so much so much, especially with just the prices have gone up tremendously. I sold someone a home two, three years ago that had been able to sell it with me just recently. And they're about to walk away with almost 200,000 And that was off a two or three years, two or three years they owned that's why I don't understand people say well, I'm just gonna rent and then I'm gonna wait Well, while you're renting, you're flushing every rent payment down the toilet. You're making zero when you could be owning and gaining equity and making money. So now it's you know, you're making money right? You're building Well, you know what I mean? So I don't understand why you would want to pay somebody else's mortgage for a year if you're in a position to purchase you guys this is Monique Buchanan. If you want to reach me and get the process started and bought on buying a home 70298 430-700-7029 A 430 700 Welcome home with monique.com is my website and at realtor Mony Buchanan bu ch a n a n is my Instagram. Now let's talk about some of these downpayment assistance programs. Yes, you heard me guys, yes, you can use a downpayment assistance program. In fact, you're thinking about putting your clients in a downpayment assistance program so they can hold on to the savings that they have. Is that correct? He's looking into that right now. And that's because rates are so high. And he all be able to keep his reserves so that he don't have to use that so that downpayment assistant will cover his closing costs his buy down some of his buy down, and then he can hold on to the money he has as a reserve that he needs. So he's doing a little different, you know what I mean? So with the three one buy down that I've been putting all my clients in, basically, it makes their payment, like, you know, really low for the first year, the second year, and then a third year all the way through 30. It's a fixed payment of whatever they would have gotten today's rate, right. But we're banking on is not going to take three years before they're able to refinance. Right? And it doesn't, it won't come from him. It's coming from either the lender or the seller. Exactly. So that's what we've been doing with my clients, but I see what he's doing. He's saying, I'll take today's rate with a higher payment. But I will subsidize that with a savings until the rates come down and I'm able to refinance. So if I need to pull, you know, a couple 100 out every month out of those savings until the feds do lower the rates, then that's fine. I'll just do it that way. So you know, that's just a different option. They also have downpayment assistant Well, he's going to probably use one of those two right to cover all his costs. So there are some you guys out there that you know, I used to talk about them a lot. I'm talking about them again now because they finally made the rates very close to today's rate before you know a couple months ago they had hiked

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rates up on these things. And it just didn't make sense for me to even discuss them. But if you're not in a position where you have a 401k that you can pull from for your down payment, or you don't have savings, you just need to get into homeownership. Before this boat passes you by, there are ways to do so, through what we call a DPA. They have some for first time homebuyers, there's quite a few that that we are very well versed in and can guide you through one of them, there is an income base at 90,000, it gives you 2% or 4%, towards your down payment or your closing costs. So when you purchase a home, you guys, you're normally going to put 3.5% down if you're a first time homebuyer. So what this means is, if your down payment is $15,000, that's 3%. They're gonna give you 2% of that. So you'll only pay 1% of that $15,000. Okay, does that make sense? So that's it, basically, they're almost covering the whole thing. Or if you do the 5%, they're going to completely pay the $15,000 for you, and give you 2% towards any other costs that you need to have taken care of. Because we also purchase you typically have 3% in closing costs, if you're not using a realtor like myself, or Alexis, and they don't negotiate the closing costs for you, right. So if you come you know, with the Welcome Home Team, you'll be taken care of because we do negotiate closing costs. But if you're in the southwest area, for instance, and you do need to go ahead and take care of your own closing costs because the home is sought after, there you go. They're giving you basically your closing costs, and your downpayment pretty much covered, okay? So that's less money out of your pocket, you're gonna go from having 15,000 to what a grand total of probably 25,000 With down and and closing to maybe paying $5,000 for your home out the door, because you use this downpayment assistance program, okay? Now, that's a first time homebuyer. What that means is you cannot own a home currently. Basically, if you've been renting for the last three years, congratulations, you can use this downpayment assistance program, especially in if you don't make over 90,000. Okay, now there is another one, you can make up to 140,000 a year. All right, and this is per person. And you you don't have to be a first time homebuyer, you just cannot own a home here in the state of Nevada. So if you own a home in Texas, you own a home in Florida. That's fine. You just can't own a home here in Nevada, and they'll give you 2% Or your choice of 5% for your down and closing costs. So they will cover these costs for you. Okay, so for more information on those programs, or if you're ready to get started to homeownership, you need guidance, you need to know you know, how can I get into a home I don't have a lot of savings. My credit is over 600 606 40 and I've been on my job for two years. It does not have to be the same job. Okay, you could have switched jobs. I just need you to have been employed for at least two years. You guys this is Monique Buchanan. This is the Welcome Home Team and you can reach us at 702984 3700 Okay, my sellers, my sellers listen up like you've heard me say there's very little out there you guys. Let me go ahead and give you a couple of my listings. Brand new listing 4219 Whinstone there will be an open house this Sunday my birthday. Between 10 and 12pm. It is a single storey home, completely remodeled with a pool and also a mini golf course. They actually thought about putting it on Airbnb at one point 4219 Whinstone three bedroom, two bath a little over 1300 square feet. Another one brand new listing 2913 Brighton this one is also completely remodeled, and it is priced under market at 414,000. And that one is completely remodeled. 2913 bridal 10 And the last one is 62 at Highland also undervalue at 409 is under the comps I should say. And that one is giving $10,000 towards your closing costs 60 to 80 Highland gardens. Alexis you have a listing coming up as well, right? Yes, I do. I have one coming soon. And this one is located in East Las Vegas. It is a three bedroom home, two and a half bathroom and it's a single story 1700 square foot and don't worry all these properties will be uploaded on my YouTube channel. Welcome home with Monique and let me just go ahead and say thank you so much for listening. And thank you Alexis for coming on and thank thanks to my all of our baby girls.

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And you guys have a blessed weekend. And Glory be to God. 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.

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