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. Hello, Las Vegas, it's Monique Buchanan, the host of the welcome home with Monique show right here at 91.5k u and v the jazz and more station. Listen, I thank you guys so much for you know tuning in. And I've got a great show for you today. But first, I want to give a huge shout out to my brokerage. We have come so deep at the Mandalay Bay, we have our exp con going on right now. Like I've told you guys before, my brokerage has over over 89,000 agents worldwide. We're in 24 countries. So when I tell you that I have somebody that I can refer you to pretty much no matter where you decide to pick up a move, it is the truth. Okay, so I'm gonna start having a couple of my colleagues come on and tell you about their market. I've got somebody from Houston that wants to come on, and Lanta, Chicago, you name it. We are there. So big shots out to my exp agents. If you're thinking about switching brokerages or looking for a brokerage that provides health care, that gives you a way out.

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And many more incentives than just health care you guys many, many ways to make income just besides you know, selling homes, and the multitude of education is beyond me, you guys, let me tell you. So anyways, if you're one of those agents that may be listening right now, feel free to reach out 702984370070 to 9843700. And you can come on and join me and my team over at exp Realty. But let's go ahead and jump into the show you guys. Listen, you know, the market is, you know, crazy right now, right? I'm sure you hear about the market. Oh, the market, the rates are high, you know, but we're still selling homes. And we're selling a lot of homes. I actually had one of my best months, just last month, so knocking it out the park top agent in my group. And that's thanks be to my K UMB. listeners. I love you guys, man. Let me just say that you guys are awesome. You believe in me. You guys always refer me business. And I'm so humbled and so grateful for that. Just know that please know that. So I know that God opened his door. And I feel like every single referral that you guys give me or when you call me yourselves, I feel like it might sound cheesy, but I feel like the Lord sent you to me. So I've got to take good care of you and whoever you refer. So thank you guys. But with that being said, you have not heard me talk too much about downpayment assistant programs. And I'll tell you why. You guys know I was talking about them quite a bit. In fact, I would say over over 75% of my clients were using the downpayment assistant programs back when they made sense, right? So I don't know if you guys remember but the downpayment assistant programs typically come with a higher rate than what the average rate is for the day. And of course, I'm regurgitating what the rates are. If I say anything like that I'm not a lender. So I'm just regurgitating what the lender told me before I, you know, sat here and decided to do the show. But the rates change every day. So typically, let's just give you an example. If the rate if the rate today is 7%, on average, the downpayment assistance grant or the money for your down payment, remember the zero downs. Typically that grant would be around at 8%. Right? But it made sense when I was talking about them because the rates were at like 4%. So you know, no big deal to be at a 5% and get your downpayment paid in some of your closing costs as well, right? That made sense. So if you'll notice, I haven't really spoke on downpayment assistant programs for at least a year and a half since the Feds raise rates last June. Another thing that the DPA is, that's what we call them DPA is downpayment assistance programs. Another thing that they do is they will typically lock you in for three to five years. In other words, they don't want you to refinance that home, or sell that home within three to five years. If you do so, you have a prorated amount that you'll have to pay them back, you know, if you gave them 10,000, you were refinanced after six months, you know, they'll just take that six months off and you're going to owe them 9500 or whatever that may be. Okay, make sense? So that's why I've kind of shunned away because they just don't make financial sense right now. So I always say if you have a 401k or a rich, rich uncle Somebody that will, you know, gift you the money in your family, right? Hey, that's what families for, say, hey, I want to take advantage of the market right now. Monique's letting me know that there's deals to be had right now, because it's not easy for the seller to sell is not easy for the builder to sell as well, they're not going to throw that money at you, once these Feds decided to, you know, take their foot off our neck, which should be coming soon. I'm hearing from the you know, from the lenders and everybody that they're saying, within 18 months, of course, nobody has a crystal ball, but they're almost to where they want to be. The whole reason was to slow us down. So they've they've almost accomplished that. So long story short, I don't want to put you in a DPA that's going to make you hold the property for three to five years, if I know in my professional opinion is that these rates are going to drop within two years. So that's why I haven't talked about it. But anyways, so I have come across or one was brought to me. There is a DPA out there you guys. And I'm so happy that she reached out to me. First thing I asked her, Hey, is there a waiting period? Are you going to penalize my clients if they refinance, because I want them to be able to refinance right away. Once those rates drop, go ahead and refinance and take advantage that now you already have the house, you don't have to fight for the house, you don't have to overpay for the house, because once the rates dropped, even by one point or two points, it's going to be a frenzy, because we still have very little homes available with many 1000s and 1000s, and hundreds of 1000s of people that want to buy a home. So once that rate drops, these people are going to be out there trying to hurry up and buy the homes and they'll over bid on the homes. We already seen that, you know, back in 2021, and 2022. So it'll happen again, obviously, so the best time to buy is when right now, you guys right now. So I'm coming up with ways for you to do it. Okay, so with the DPA that was brought to me, they're gonna give you $10,000 towards your closing costs up to $10,000. So if you need 7000, they'll give you seven. If you need eight, they'll give you a right, they are also going to give you up to 7500. In closing costs, the reason being is because if you say Monique, I've already got my down payment, I already have my closing costs, or I have one of them. If you have any, any money saved up at all, or you have a 401k that you can pull out of and not be penalized. Great. What we can do is take that money and buy down your rate. Okay, so let's pretend that the rates right now are at 7%. Maybe we can take the money that they're giving us and buy down that rate to maybe five or 6%, which makes your monthly mortgage, much more affordable you guys and now you're getting money from the downpayment assistance grant, you don't pay it back, you have to have at least a 640 credit score. And you can go ahead and move forward with that. Okay, so we have a downpayment assistance program available, just want to put that out there. We're back at it. I'm excited to announce it. Now it is ZIP Code driven. So when when me and my team gets you out there to look at properties, we'll just simply have to put the address in and make sure that it's within the zip code, don't worry. It's not like one specific area. It's all throughout the valley. So they're, they're in Henderson, Summerlin, you know, Northwest everywhere. So it's not one little area. So when I say ZIP Code driven, don't think Oh, it's just a one little you know, no, it's nice spread out through the valley, but they we would have to check so that's the only quote unquote catch. Okay. So there you go. So there is a downpayment assistance program available, that will pay your downpayment up to 10,000, and give you up to 7500 in closing costs. My name is Monique Buchanan, and I am your family and local realtor and your K u and v realtor. here in Las Vegas, Nevada. If you're just tuning in, you can reach me at 702-984-3700 We're talking about a zero down payment grant out of your pocket for a home right now. But some folks are just not in a position with the with the savings, no problem. We do have a grant available to you right now as well. So if you're just tuning in again, that number is 70298437007029843700 Welcome home with monique.com is my website. Guys, I always upload each one of these sessions on my YouTube channel. So Monday it'll be there. You can jump on welcome home with Monique on YouTube and if you didn't catch the whole show, don't worry, you can jump on YouTube. Alright, so anyways, let's jump on into the new home builders. I have a very good relationship with one of the new Home Builders here in the city. They're actually a luxury new home builder but they do have a product or home. townhome That's gorgeous. I've actually sold about seven of these. They're really beautiful. They don't feel like a townhome. They feel like a house. They're two car garage. You know two storey are there around 1500 square feet, brand spanking new. They do all the upgrades. They have the flooring in 42 inch cabinets, the works you guys and guess what they have one is low was 365,000. So if you've been out there looking around and can't find anything, you're like, Oh, I just want to bring my furniture in and set it down and be done. Great. I've got something for you. $365,000 brand spanking new by a very prominent builder here in the town. That particular townhouse is in the northwest area. The new Northwest is what I like to call it, because I grew up in North town. But this is there's a difference. There's North town where I grew up, went to Rancho and then you have the new northwest area, which is out by alley monta and Centennial Hills. So just so no, that's where that one's at. They also have a home that's a little over 1600 square feet, single family story or a single family home two car garage, pavers in the driveway, guys, though, works as well. $399,950 That's a three bedroom home, three bedroom townhouse for 365. You guys. They also have homes all the way up to a million dollar. So and what I'm about to tell you applies for those homes as well. So these this goes across the board from their purchase price of 365 all the way up to their million dollar homes. So if you're in the you know, in the market, or you know, 56789 a million dollar home, no worries 4.99% rate right now, you heard me right. I stuttered because we haven't seen 4.99% for a rate in a cup like almost a couple years now. So 4.99% rate for my FHA buyers, mid VA buyers, all right, my conventional buyers, they've got you at a 5.875 rate. Luxury builder, you guys they have properties all the way from a million dollars as low as 365,000. And they're throughout the Las Vegas Valley. They have homes in you know Summerlin, mountains, edge, northwest, you name it, they have properties out that way. 4.99 for my veterans, my FHA buyers, and 5.25. Or I'm sorry, or, or they'll give you 5.25. And then they'll give you an extra 2% towards your closing costs. So that's a lot of money, you guys, a lot of money. So they're already giving you 10,000 towards closing. So if you bump if you decide that you want to bump your rate up to 5.25, they'll give you an additional 2% of whatever your purchase price is towards your closing costs, which I mean, that's a lot you guys, that's a lot. So, so they're, you know, they're really trying to help people afford the homes right now. And guess what, at 4.99%, you don't even need to wait for the rates to drop. You already got what you're looking for. If you're waiting for the rates to drop, I just gave you that rate drop right now. There it is. Brand new home, I'm giving you that right now. 4.99% rate with 10,000 towards closing costs. So if you're interested in going to see those properties, brand new homes at that rate, less than a 5% My number is 702-984-3700. Again, 702-984-3700. This is Monique Buchanan. I'm out there in those streets driving there trying to find find you guys the best deals. Okay, talking to the builders, what can you do for my clients? I need to know, you know what I mean? Because right now, just like even Warren Buffett said, Hear me when I say this, this is Warren Buffett's, quote, you guys, and it's just so true. be fearful, when others are greedy, and be greedy, when others are fearful. And you know, everybody is fearful right now, right? Everybody's sitting on their hands. They're fearful. They're scared to buy, but I say why? Why I'm out there, I see the deals that I'm getting for my clients happening for my clients that I haven't seen happen in eight years, because our market has been hot. You know, so my clients that are saying, You know what, Monique, I'm gonna, you know, have a leap of faith. I'm gonna go with you. Let me go ahead and buy a house now why everybody else is sitting on their hands. What kind of deal can you get for me? They're happy, they're happy, I closed? What did I close like eight deals last month, you guys eight deals last month. And all of them are extremely happy. And I'm happy for them. Because they understand they understand by now and just go ahead and refinance when the rates drop, you know, bite the bullet now if you have to, but what I'm not letting them I've been buying down their rates. I've been getting seller concessions from the sellers, you know, sellers understand, they understand right now, hey, you know, just a $250,000 home, you know, that payment alone was the same payment that they could have had on a $450,000 home last year, you know, or a year and a half ago. So they understand, you know, not everybody is going to be able to afford your home. Right now. There's a very small pool of buyers. So that's why they're going ahead and negotiating with me, the seller concessions, and then me and my team. We are taking those concessions and buying my clients rates down so that they can be, uh, you know that their mortgage can be affordable for them while they wait on the rates to drop. Once the rates drop, what they're gonna do is go ahead and refinance and just, you know, hold, get that 30 year fixed rate, and do that you know what I mean? So they don't have to be struggling with their payments, there's ways around it, you know, it doesn't make sense to wait for everybody to jump into the pool, and then fight everybody, and then have to pay above and beyond what the sellers are asking because the sellers are going to know, especially if they have an agent like me, I'm definitely educating my sellers about what the current market is, that's imperative as a listing agent, you've got to be have your finger to the polls, constantly out there, because it changes on a dime. So if you're not, you know, you're not in the know of exactly what's going on for that week, or even that, you know, that month that week, because that's how fast it changes, you could cost your seller, 1000s and 1000s of dollars. So you definitely want to work with the listing agent that has their finger on the pulse. And that would be somebody like myself and my team, because we're out there constantly working. We're full time realtors, this is what we do. Alright, so you definitely want to be able to educate your seller and say, Hey, right now we're in a buyer's market. And this is why you know what I mean, or we're in a seller's market. And this is what we're going to do. This is a strategy that I have for you, this is my professional recommendation, and then let them decide which route they want to go. But this is what I think, you know, we'll do the best that makes sense. So once again, if you're just tuning in, my name is Monique Buchanan. And I was just going over some incentives that my builder partner is offering to my listeners right now. And you can reach me at 70298437007029843700. Again, just to recap what we were talking about. And once more, you can always find my show on my YouTube channel. Welcome home with monique.is Welcome on with money.com is my website, but my YouTube channel is also welcome home with Monique. And every Monday it's uploaded. So if you didn't catch all of it, no worries, you can jump on there. And you can catch it there as well, Spotify, Apple all that as well, too. So real quick, you guys what we were talking about if you're just tuning in, once again, I'm your realtor here in Las Vegas. I'm a full time realtor, I have a team and we take care of all my que UMB listeners and their family and friends. And we're humbled and thankful for every referral. Now we were talking about downpayment assistant programs. Okay? It's back, I have one for you. I have not spoke about downpayment assistant programs in quite some time. Because they can't they they just didn't make financial sense right now, when the Feds raise rates last June, the GPAs, as we call them, every time the rate is 6%. And the DPA is typically going to be a 7%. So once the rates got to, you know, 6%, then 7%. It just doesn't make sense for my clients. And the other reason that I have not spoke about them is normally they will also have a three to five year holding period, they want you to hold or live in the home as your primary home for three to five years, which normally wouldn't be a big deal. But when you're telling me that I can't refinance, or you're going to penalize me, that's a problem. So I don't recommend that for my clients. Because if you're going to penalize me, and make me pay back the money you gave me, then I might as well try to get a gift from a family member, or go to my 401k to get the money. Because as soon as those rates drop, I want my buyers to go ahead and take advantage of the lower rate and refinance right away. Okay. Now, I always use my little analogy or my my story about Black Friday. What What sense does it make if I'm standing outside Black Friday, and there's lines and you know, my kid wants that PlayStation six? Okay, let's just say that. And the manager comes to the door and says, Hey, Monique, I listened to your show, you know, come on in, I'm gonna let you go ahead and get one of these PlayStation six before everybody else can, can come in. Now, when I tell him no, I want to stay right out here and fight everybody for that PlayStation six and I you know, I want to push down people and stumble and fall and and then hope that it's there and that there's one left for my kid? No. That's what the people are doing right now that are sitting on their hands. Here I am. I'm at the door. I'm telling you. Come on in. There's only a couple of these homes left. We have low inventory. Come on, and I'm going to show you how you can get one now. And then when the sale ends, come on back with your receipt, I'm going to honor that price. That's exactly what I'm talking about. You guys. Come in, get the PlayStation, right? Don't fight anybody for it. When the when the rates drop, that's when you know when the sale ends. Hey, come on back. I'm going to honor and give you the sale price. That's what happens when you refinance. Now you already have the product you didn't have to find anybody for it. Okay, you didn't have to wait out aside for Black Friday, cold, ready to push down people to get this Playstation six, I'm telling you as the manager at the door, hey Kay, you and B listener, I know you listen to my show. Come on in. Let's get you a home. And when the rates drop, let's refinance. Is that okay? You guys, that's all I'm saying. So let's jump back into it. And let me go ahead and finish my recap, you guys know I can go off on a tangent. But anyways, so we have a DPA or downpayment assistance program that will give you up to $10,000 towards your closing cost, or I'm sorry, debt towards your downpayment. Remember, if you have not lived in a home within the last part lived in home if you have not owned a home. In other words, if you've been renting for the last three years, you are considered a first time homebuyer. FHA guidelines considers you a first time homebuyer which means you only have to put down 3.5%, you do not have to put down 10%, you do not have to put down 20%. And by the way, typically 20% people that put 20% down is when they're buying an investment. So if you heard that myth about having to put 20% down, that's required when you're buying something that's not your primary home, something that you're not going to live in, but you're going to make money off of, that's when the lenders require a 20% down, okay? If you already own a home, and you want to buy a second home in Chicago, or wherever, as a vacation home, typically they'll ask you to put 10% down. All right. So just keep that in mind. So if you have been a renter for the last three years, you only are required to put 3.5%, down you guys, all right. So just keep that in mind. And if you already own a home, but you're ready to maybe take some of that equity out of your home and buy another property, take advantage of this market and become an investor. This sure you have to put 20% down. But you know, hey, either you haven't saved up or you just gonna pull it out of the home that you live in now, and go ahead and invest in this market, put those dollars to work. All right. So if you're somebody that says but Monique, I don't have any savings, but I really don't want to miss this boat. I don't want to get priced out. And by the way I have I have plenty of clients that did get priced out you guys. And what I mean by that is that they can no longer afford to buy. Unfortunately, I talked to them maybe four years ago, three years ago, for whatever reason. Maybe they listened to family. Oh, wait, wait, the prices are gonna go back down? 160,000? No, ma'am, no, sir. With everything we have going on in Las Vegas, I don't even see how people think that that's people are pouring in from here, we were expected to get like 3 million more people to move into Las Vegas. So that doesn't make sense that the prices would ever get back down like that again. So So anyways, unfortunately, a lot of those buyers that did not buy, you know, three and four years ago, now, they're priced out. They can't afford to buy anymore. And that's unfortunate. But if that's you and you're saying, Hey, I don't want that to happen to me, I want to take advantage of the market right now. I'm giving you this downpayment assistance program, FHA, VA, my veterans, there's no reason you shouldn't be buying, even if you're going to go ahead and you know, you know, you're going to be moved somewhere else, that's okay, I can sell it, I can rent it out, there's options, you can walk away with money instead of a deposit, instead of a $2,500 security deposit, you can walk away with maybe, you know, $25,000, if you only stayed a little while, who knows, but it's much more than 2500 is my point. So you're getting a 4.99% rate. With my builder partners, they're going to give my clients a 4.99% rate that are FHA and VA and up to $10,000 towards their closing cost. Okay, that's unheard of right now, you guys unheard of, if you have family members that have been looking for property, my number is 702-984-3700. If you have been looking for a property and have been unsuccessful 702-984-3700 Now I don't step on my colleagues toe. So if you're working with a realtor, I do not do that just so you know, I would I would require your commitment to me, there's like with my husband and everybody else, I don't like cheaters

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just being completely honest. So just so you know that I don't step on my colleagues toes. If you have a realtor, you would definitely want to go back and refer to them. But if you are not working with a realtor, you have not signed any kind of agreement with the realtor. Great. I can assist me and my team will be happy to assist. So we also have conventional at 5.875. These are unheard rates right now, you guys the last time I talked to my lender, the rates were well over 7% Okay, and we do have a downpayment assistance program as well. So that right there, that that is and you could use this with the builder by the way, just so you know, you need a 640 credit score, they're gonna give you up to $10,000 towards your down payment, and they'll give you up to $7,500 towards your closing cost. And their rates are at today's rate. So that's hovering around 7.25. Remember rates change all the time and Do not take my word for the rates. Please add, you know, get advice from a lender. I'm just regurgitating what my lender has told me. Okay, so once again, I'm going to leave you with this. be fearful when others are greedy and be greedy. when others are fearful. Don't be fearful. Do not be fearful. It's time right now, to go ahead and get yourself a home before this train passes you and we, we turn into little LA, and we've got families living with multiple families in our homes, because it's just too expensive. Hey, there it is. Love you guys. I hope you have a wonderful weekend and this is Monique Buchanan. Remember, you can catch this once again on my YouTube channel. Welcome home with Monique. My website is welcome home with monique.com My phone number is 702984 3700 I look forward to your referrals or assisting you or just answering any questions you may have. All right. Have a great 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. Alright, tune in next week.

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