Welcome Home with Monique

Unknown Speaker 0:00
You're listening to locally produced programming created in KU NBC Studios on public radio K, u and v. 91.5.

Unknown Speaker 0:11
The content of this program is sponsored by CMG financial the content of this program does not reflect the views or opinions of 91.5 jobs and more the University of Nevada Las Vegas or the Board of Regents of the Nevada System of Higher Education.

Unknown Speaker 0:26
You see me on the

Unknown Speaker 0:37
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.

Unknown Speaker 0:48
Well, good morning K, u and v family. This is Monique Buchanan, the host of the welcome home with Monique show. And today's show is going to be all about new construction versus resale properties. Okay. You guys all know that I have built many relationships with many of our brand new home builders out here in the Las Vegas Valley. And today, I have a very special and actually the top in her company. Number one in her company. New home sales consultant. You guys know my friendship now. I Chanel.

Unknown Speaker 1:25
Hi, and thank you for having me back again.

Unknown Speaker 1:29
Absolutely, you guys are doing great things for my clients, I really do appreciate what your company your luxury home builder is doing for my K, u and v listeners. If you guys don't know what I do is when you guys reach out to me, and you hear the incentive that that her builder is giving my clients, you guys reach out to me and then I get you in the hands of Chanel, she walks the property with you goes over all the incentives that she will be able to give you because I've sent you her way as a referral. And then you guys decide if you want to move forward, no pressure, no high pressure sales. But I do appreciate that your your company is actually giving these great incentive to my clients, especially right now Chanel, because we all know that the rates are higher than what we're used to. And your company has been giving my clients I mean rates that we haven't seen in two years. You guys are what exactly just go ahead and jump into what what rates are you given my my referrals? My KNB referrals?

Unknown Speaker 2:26
Yes. So we are offering for FHA and VA buyers rates as low as 5.75%. I said 5.75% mo because if you say market rates were in the eight it's crazy. We're also offering typically not very close to it was in cost. Yes. $10,000 for closing costs. So that's huge.

Unknown Speaker 2:49
If you know it that's really huge you guys because in the resale market with my profit my my clients that are looking at resale properties. We are getting closing cost from the sellers right now, but nowhere near what the new builders are giving right now. Okay, so we're giving are the sellers are giving up closing costs, but they're not giving up closing costs. Plus buying down your rates. That's like unheard of. And the reason being is on average to buy your rate down and what we mean by that guys as you can actually buy your rate lower than what the average rate is today. We're not lenders, these are all estimates, okay? We will get you in the hands of the lenders. And so will Chanel if you want the exact Okay, everyday things change, but right now, you can still buy down your rate, but it typically costs four to $5,000 per point. Okay, that's my understanding. And once again, we are just regurgitating what our lenders have told us, okay, but let's say that, you know, we were not lenders, but the seller, I represent many listings, I have many sellers that are listing their properties and getting them sold effects. Congratulations to the flowers family, we just got a full price appraisal and we are selling that bad boy, that was one of our probate listings. So we actually are going to once again I'm breaking records in the neighborhood. So my the neighbors are gonna be very happy with me because we went about 20% above what the others were selling for. So anyways, congratulations to my flowers family. And also congratulations to my ally Yonsei seller. We also just went into escrow with her property. But anyways guys, I always let my sellers know that right now because of where the rates are at. You're gonna give up a little closing costs, right? But that typically looks like maybe 10,000 or less, right? The builder is giving you 10,000 In your closing costs as well as that's the big point right there. That's the big aha moment. They're also gonna buy down you're right now that cost them 1000s of dollars, but they're gonna do it for you right Chanel.

Unknown Speaker 4:53
That's right. Yes, we are offering such a great incentive right now that I'm so happy For this show Moe so that we can really hone in on how these rates make a huge difference on this monthly payment for them.

Unknown Speaker 5:08
Yeah, we're gonna dive into that right now you guys just so you can kind of grasp this, what we're talking about rates determine how much that monthly is going to be for you. Just like when you buy a car, if you got a higher rate 13% And your monthly payment is going to be more right? Well, the builders Chanel's builder for my Komu, listeners and referrals, once I send you over to Chanel, you know, you'll you know, when you give her a call, she'll set up an appointment so you can come visit the properties. And she will sit you down and go over everything with you. But for now, we're just going to jump into some examples. Okay, we're going to do brand new home filled with Chanel versus a resale property with Mo right. And once again, I will be the one to refer you, once you text me at 702984 3700. I will get you in the hands of Chanel and she will walk you through everything. Okay, once again, if you're just tuning in this is Monique Buchanan. And I have one of my new home sales consultants on with the new builder. So all those beautiful homes you're driving buying, seeing Miss Chanel represents those homes. And so she's going to tell us what her builder is offering my KMB listeners and what that looks like. And I'm gonna go over the resale. So let's jump into it. Let's pretend that we've got Mrs. Kay, you and B listener, and I refer her to you Chanel, you've got a beautiful home over there at $360,000. Okay, with the incentives that you guys are giving my clients, what does that look like for her at the $360,000 price point.

Unknown Speaker 6:38
So at 360, if we're going to do the 5.75 interest rate, the minimum downpayment for FHA is three and a half percent down. That's $12,000, roughly, right? With our promo rate, the monthly payment is $2,600.

Unknown Speaker 6:54
Okay, brand new home 20. There's apartments going for $2,600. Now, let me tell you what that looks like for a resale property. Okay, but now let's let's reverse now, the resale property, you're not getting your rate bot down. So that payments gonna be around $3,100 a month. And also, you're not getting that $10,000 worth of closing costs, well, you might get close to that, let's just pretend you are gonna get the $10,000 closing costs, you're still looking at roughly 14,000 In closing costs to pay. So it's still more than if you were to go with Chanel and the new home build. So your payment is about $500 more. And you're about $2,000 more out of pocket. Okay, so that's what we want you guys to see. Let's do another one. Let's do 450,000 Let me start this time, resale property 450,000. At today's current rate, we're just doing a 7.5% rate. Once again, we're not lenders, this is just what we found on the on the mortgage calculator. And that's what it where it's at right now. But it changes all the time. That payment is $3,800 a month on a $450,000. Home, you're out of pocket. And this is assuming that the seller will give you 10,000 is still going to be about $19,000 out of out of your pocket for closing costs. If the seller does not give you the $10,000 You're looking at $28,000 in closing costs. What does that look like if I refer them to you Chanel?

Unknown Speaker 8:28
If you come on down to 150,000? Yep, we're going to offer you those closing costs incentive. So your out of pocket is just downpayment $15,000, monthly payment you're looking at $3,300 a month. Wow, you guys

Unknown Speaker 8:43
right now, brand new homes I feel are one of the best one of the best deals you can get out there. Once again, don't ever go through those doors without your realtor Chanel, what happens that when they come to the doors without a realtor?

Unknown Speaker 8:58
They're unrepresented. Correct? That's right. That's right. Because I represent the builder, you want representation on both sides. So that's why you want to call Moe and make sure that he connects you with me so that we can have the proper representation for you.

Unknown Speaker 9:13
Right, absolutely. And once again, you guys, it costs I charged zero, not one penny, do you pay me? You do not have to pay me? I'm compensated elsewhere, you don't have to worry about paying me one penny. Now do they get any kind of incentive or some kind of a huge discount by not having a realtor Chanel? From the builders? They don't?

Unknown Speaker 9:35
They don't not at all. No, we treat everyone doesn't matter if you have something with an agent or not. But you know, we know that you want someone on your side that can help you, you know, decipher what's going on here and have that extra point of contact.

Unknown Speaker 9:52
Right and so it doesn't make sense. You know, if I'm not charging you anything, it is zero for me to represent you. But at least you have Need to be that liaison between you and the builder? And I've also my knowledge that I have with new home construction. You want to definitely have me there to guide you. Even if you bought before some people say, Well, I bought new homes before. Okay, well, you you were blessed enough that nothing happened during that process. So you know, thank God for that. But there's no need to do it. Because once again, you guys, I, me and my team, we charged zero to represent you on the new home builds. Let's jump on. Let's do one more. Let's do. Let's do FHA, Max $510,000. Okay, you can go ahead and start with how much it will cost if they walk in. Anyone view listener? Yes, yeah, my, my K, u and v listener calls me up, and I refer them to you. And they walk in and say, you know, hey, we want to buy that property we're talking about for five or 10,000? How much is my out of pocket with your builder? With the $10,000 credit your builders getting?

Unknown Speaker 10:57
Out of Pocket, you're looking at roughly $17,000 with a monthly payment of $3,700.

Unknown Speaker 11:04
For a $510,000 home, okay, right. All I'm paying out of pocket is $17,000. And I'm not paying Monique a penny to represent me is that right? That is a darn good deal. So once again, guys, now I'm gonna go over the resale. Now, let's say that we go around and we look at the resale properties, which just means nobody is currently living in a property or have lived in the property they've decided to sell it. So it's not a brand new home, you're not going to be the first person to live in this home. This home has been lived in before and they've decided to sell it. Well, that's called a resale. So with that, we're not going to get the rate bought down, okay? Because the seller is willing to you know, give some closing costs, but to do both, that would cost 1000s Alright, so we're gonna pretend that the seller is not going to give you any closing costs, we're just gonna pretend your out of pocket would be $31,000. And your payment per month would be $4,300 a month. Okay, now we're going to pretend that he does go ahead and I'm able to negotiate closing costs, which you know, I have been doing, so I get you $10,000 from the seller, you're still coming out of pocket 21,020 $1,000 You know, that's less than what you would do if I refer you over to Chanel, and let her show you brand new home. Now I kind of want to pivot because I'm just gonna share a story not a story actually the truth but I you know, when I bought my my first home, you know, I just didn't even think to buy brand new. I really hate that I didn't think to buy brand new, you know, I think just in my mindset, I was like, What's my first home? We all think that we need to fix it up and in which I would have been I'm humbled. I have no problem fixing up my house, but I just didn't even think about it. Chanel. I had an I was approved for enough to get a brand new home. Yeah, so I didn't do that. So let's talk about the benefits. And I'm gonna let Chanel expand on this. Here's a couple main points when it comes to buying a brand new home besides you being the first one to sit on that toilet.

Unknown Speaker 13:15
Right, right. Right, you know that you're going to start these memories in this home right? No one else has been here before so it's all you you get the begin the memories in this house. Next you have warranties, right so the new homes gonna come with warranty you have one year top to bottom home care, you have a 10 year structural warranty. You have a contact someone to call you have a portal to put in those tickets. So you have peace of mind coming in to a new home.

Unknown Speaker 13:45
And not to mention, we all know and you guys have heard me have my solar representatives come on. Because these these prices for power. Outrageous, right? So with a brand new home, they have to be built a code which is energy efficient, right? You want to touch a bit on the energy efficiency of these brand new homes

Unknown Speaker 14:06
a standard. Yeah, so to get our energy efficiency rating, we have to meet a certain standard. So we have high grade insulation. We have radiant roof barriers. We just I have a buyer that in our 1500 square foot home. I asked him hey, how much was your power bill? This was back in July. He said $80 or 15 ly

Unknown Speaker 14:29
mine wasn't it wasn't? No. I had a real even with solar mine was 100 and something so he's beating me. Yeah, that's a great point to make. And if you're just tuning on, this is Monique Buchanan. You can reach me at 702-984-3700 in fact, you can reach us now at 702-984-3700 Chanel is one of my new home sales consultants. She is there to answer any and all questions you may have up about her brand new home builds. And instead of that they are getting my k u and v. Listeners right now you guys are getting $10,000 towards your closing costs, as well as they are buying down your rate to 5.75. And if you're a conventional buyer, you want to buy a million dollar house 5.99 Is what they are giving you. As long as I refer you to miss Chanel. And that number is 702984370 you can simply just text your first and last name, and your phone number and I will have Miss Chanel give you a call back. Easy peasy, you guys and she will get you out there to look at the properties as well. Once again, this is Monique Buchanan with the Welcome Home Show. I am your realtor here in Las Vegas. And my number again 70298 board 3700 Welcome home with monique.com is the website. And don't worry, at the end of every minute, every one of my shows, I repeat my number because I do talk fast. So once again, guys, we were talking about the benefits of buying brand new Chanel mentioned the warranties that come I always compare things to cars, when you buy a used car, you got to kind of worry about the maintenance, right? So with brand new homes, you're gonna have that lower maintenance, if any at all. For many years, you have the warranty. So if things, you know do happen, you have those warranties in place. It's almost like putting a ticket in and they come out and fix them right away. The energy efficiency. Chanel was just talking about a man that had an $80 bill in July with one of her new home bills. Another one I want to point out about Brian buying brand new, you have higher resale values, you guys higher resale values and if you don't want to sell Guess what? People are always wanting to rent out a brand new home. Right. Right. To know,

Unknown Speaker 16:49
I thought I lost you. Yes. Yeah, absolutely. They are. I mean, the rental rates are just almost as high as mortgage rates. So why pay someone else's mortgage? Right? Pay your own?

Unknown Speaker 17:00
Absolutely. Like you said, you've got a product product or a property over there right now going for as little as 360,000. And you said that payment with all the que UMB incentives would be 2600 a month at 5.75. Right? That's only What did you say? 12,000 out of the pocket?

Unknown Speaker 17:19
Yeah, just downpayment $12,000 Roughly out of pocket. And now I want to point out that we're here in November and we have homes that can close by the end of the year.

Unknown Speaker 17:30
Oh, yeah, a lot of could be in there before New Year.

Unknown Speaker 17:33
Correct. Yeah, they can be in all we can have the New York party at their house.

Unknown Speaker 17:38
Oh, that's amazing. So you guys have what we call quick movies which are typically 30 to 60 day move in correct?

Unknown Speaker 17:46
That's right. Yes. Yes, I have them ranging from credit. They need 1000 We would like to see 680 FICO score. Okay to get the best rates we can get for them. Yes.

Unknown Speaker 18:00
Perfect. Now I cut you off which you know, all my k u and v listeners know I'm terrible for doing but you were saying that you have properties as little as 360 but you guys are also a luxury builder. So it goes up to what

Unknown Speaker 18:17
we have homes up to $1.5 million 3500 square foot homes. So up to 1.6 million they can go

Unknown Speaker 18:26
and what areas are is this builder located

Unknown Speaker 18:30
so we're all throughout the valley. We have them in southwest Northwest Henderson muskie Lake Las Vegas we're we're everywhere on the map here in Las Vegas.

Unknown Speaker 18:42
Oh, I know you guys are you guys are one of the top builders you know in the city. So let me let me point out something aren't you guys opening a brand new Summerlin community that I'm pretty excited about? Yes, we are actually we just launched our new community up in Summerlin. It's Summerlin, West, I

Unknown Speaker 18:59
believe it's the location there. The homes there start around and what are they going for? Seven hundreds, I would say in the mid seven hundreds and they are about 2300 square feet at minimum I think they go up to about 2800 to 3000 square feet.

Unknown Speaker 19:16
Now what's included with your builder do you guys include like paver driveways isn't smart. What do you guys include?

Unknown Speaker 19:24
Yes, all of our walkways are paved in anything that has a covering over it. We're going to pave put some papers there for you. We're also offering all appliances right now. So refrigerator washer, dryer, wow, they're all going to be included we're offering. We're specking out everything with solar conduit. So that's a factor that they can add on after closing putting those panels on because we've already did the wiring for that. So that's going to help

Unknown Speaker 19:48
now you see that guys and once again, if you're interested in solar you can also text me at 702984 37 100 you guys even the builders are making the homes now ready for sale. ular This is the future solar, the future. It is our option to divorcing dirty energy is getting away from NV energy and the grid and go ahead and go solar. And listen, I like I brag about my $100 bill. You know, even in the summer, my bill was $100. And I have a 2400 square foot home. So if they want to get solar, you guys have already SPECT them out. And already have them ready to put solar on if they so choose

Unknown Speaker 20:27
to go green. Yes, that's right. Yes. Okay. So

Unknown Speaker 20:31
you've got Summerlin area, you have Henderson, you have the Southwest mountains edge properties out that way. Can you maybe go over a couple quick move ins which, which they can move in before New Year's, if they decide to? Let me refer them to you?

Unknown Speaker 20:47
Absolutely. So really, at every community, we pretty much have a spec available that can be moved in in at least 30 to 60 days. So again, starting price at 360, all the way up to $1.6 million, and you let her know, whatever you're looking for the price point you're looking for, and I'll send you over whatever we have available.

Unknown Speaker 21:06
All right. So if you call in to me, then I can send you over to Chanel, and she will then take the reins. Let you know what area would you like to be in? Well, this is what we have in this area. But guess what? Those incentives as long as I refer you will follow you to whatever area you want to be in. They do have beautiful homes over there in Providence area or sky Canyon. You guys are in

Unknown Speaker 21:29
sky Canyon. Yeah. Providence. Oh, Sky Canyon.

Unknown Speaker 21:33
Okay. I get that because I know that we went looked at a single we've showed one of my K UMB listeners a single story home. That was what was it three car garage. Had the candy.

Unknown Speaker 21:46
Rogers ranch style homes. Nice big lots. 10 foot ciliated gated community? Yes. Lots of amenities within that community as well.

Unknown Speaker 21:58
And how much were those going for?

Unknown Speaker 22:01
Those are in the mid five. Honestly, they were

Unknown Speaker 22:03
like, Yeah, I was gonna say almost six, like 500 1000s. Yeah. So you guys, she has many options, many options throughout the whole valley. And like I said, right now, we were just going over the difference in buying brand new construction right now versus resale properties. And I'm just gonna jump into a really quick recap of what we were saying. Right now, she has a property over brand new, it's around 1500 square feet. All right. Three, it has what Tim Tim fillings in that property as well downstairs, and three bedrooms. $360,000, okay, that's going to be $2,600 a month. If you were to buy that same $360,000 at the rate of 7.5, which is around the current rate right now they change all the time, that payment will be $3,100. But because they're getting my referrals at 5.75 rate, that's why your payment will be $2,600. Now, they're also given $10,000 towards your closing costs. So your closing costs, if you are to be referred to Chanel, for that same $360,000 home, you'll be out of your pocket all the way completely. That's it $12,000 That's it, guys. $12,000. Now, if you buy a resale property, and we don't end up getting any seller contribution, it'll be $23,000 out of your pocket. Now I am able typically to get around 10,000. So it is still be more in what the builder is giving are the more than what the builder is giving you so much that you'll pay less out of your pocket is how I should have said that sorry. $12,000 out the door $360,000 home, your payment will be $2,600 people are living in apartments paying rent right now. Or that much.

Unknown Speaker 23:57
Right at 100%. Interest. 100% interest.

Unknown Speaker 24:02
Yes, RIT is 100% interest and you know what else is not locked in for 30 years. And let me share this story. I had a client and you know, parents do meanwell and they told her Oh, you know what her mother told her it's not a good time to buy is not a good time to buy. And see now this lady had been through, you know, the 2008 crash and She means well for daughter for she does. So she meant well. She was renting at the time. But the daughter said no, you know, I'm going to buy because she said to me, I see all these, you know, NBA and you know NFL and all these teams coming in when I know that these properties are not going to drop in value. And she I didn't have to tell her she I think you're right. I don't I don't foresee that at all. When the prices are only going to go up. So she told her mom I'm not gonna wait. She bought her house two years ago. And do you know that they did that big rent increase? Her mother had to live and move in with her. Then she tried to ask me if she could buy a house at that point. But unfortunately She was priced out of the market. I couldn't get out of her mom would have bought along with her daughter, I could have gotten her home as well. So I know that people mean well, but honestly, you know, prices are not going to drop, like, like, we're not gonna see, you know, $130,000 homes again, it's not gonna happen. You guys, look at all the look at all what's coming to Vegas, I don't understand why. What would make people think that that's going to happen. It's just not going to happen, you know? So anyways, if you're wondering, and this is money, you can

Unknown Speaker 25:30
point sure about being priced out right when the rates go up. When buyers come to us at a lower interest rate, they have a little bit more buying power, right. So when they come and they say, I got pre approved at a seven and a half interest rate, well, now you can afford a little bit more here with us because our rates are lower.

Unknown Speaker 25:50
So let me just break that down so that they can really understand Suzy was approved from her lender for $400,000. Right at a 7% rate. But because they are offering Suzy, who is my k und listener, they're offering her a 5.75 rate, guess what Suzy is now approved for $500,000 because the rate is lower, it gave her more buying power, because she can now afford that, you know, 2600 or whatever payment. So whenever your rate is higher, you're gonna be less, you're gonna your approval amount will be less. So it'll be a lower approval amount. If the rate is lower, your approval amount goes up. Okay, guys, Chanel, I want to thank you so much for coming on the show today. We really appreciate when you come on.

Unknown Speaker 26:37
Of course I love being here.

Unknown Speaker 26:41
All right, well, we appreciate you. Anybody that heard you know, Chanel and you're interested, you want to learn more, or you want to go tour some properties with Chanel, and kind of sit down with her and go over the numbers. Listen, oh, 702-984-3700 we don't feel like talking. No worries, you can text me at that number. Just text me your first last name and your phone number and I will have Chanelle reach out to you. Okay. 702984 3700 she will meet you at any, any place in the valley. Because they are her builder covers all areas so she's got you covered. And I once again I want to thank you for tuning into the welcome home with Monique show. May God bless your home, your dreams and your journey and real estate. Stay blessed. Stay informed and keep the faith alive. Thank you Chanel.

Unknown Speaker 27:34
You're welcome. Thank you.

Unknown Speaker 27:36
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.

Transcribed by https://otter.ai