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 0:27
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, happy Saturday, Las Vegas. It's Monique Buchanan, the host of the welcome home with Monique show. And listen, you guys have all been here in the talk about hey, the market has changed. I'm sure you were hearing it on the news. You're not just listening to me. You're hearing it on the news. You're hearing it from friends, family. It's true, you guys. Our market has changed. The entire country's market is changing a bit. Is it crashing? No, no, it's not crashing, but it is starting to flatten out. And we're starting to see an opportunity to snatch up a good deal again, finally, right? So, ya know, we still have to, you know, battle with these rates. But you know what I like to tell people, I like to tell people hey, listen, when you're renting, guess what your rate is? Your rate is 100%. Okay. And we all know that's no good. You're making zero on renting that property. All right. So when you think about purchasing, remember that you are it's an investment, you are gaining equity, you know, so anyways, with that in mind, let's talk about the the market, I wanted to go over a couple of stats with you guys, you know, give you the little market report, you know, just so you guys can hear a couple of numbers and kind of see where we're at. So let's start off we're going to start off we're going to work our way around the valley. Okay. We're going to start off with Summerlin, right now. This is up to date. This is as of August or last Thursday, August 25. All right, the medium home price was 676,000. In the Summerlin area zip code 89144. So their median price over there is 676. Okay, now the price per square foot is hovering around $312. And their average days on market now is 55 days. You guys, that's crazy. When just three months ago, you know, the average days on market was in the 20s. You know, if that I mean, I'd list a property over there and get to three offers within the same week, if not more. So that is where we're really seeing the change in the market, these listings. They're sitting there not flying off the shelf like they were just three months ago. Okay. So that was with the single family homes, the condos over in Summerlin, they're going for around 428,000 as their median price. All right, that's about 304 square foot and they're staying also on the market for around 52 days. All right, we're gonna move on over to Henderson where I do have a beautiful listing. It is since you know, since we're going to Henderson I've got a shout out my listing. It's a beautiful listing and McDonald's Ranch, we're talking four bedrooms, single story, you know,

Unknown Speaker 3:33
it also has an office, okay. And what is it three over 3000 square feet, three car garage, more information. You can text 702984 3700 702984 3700 Go ahead and text Ashley rose. Okay. And you will get information on that. But anyways, Henderson 89052 area is going for around 306 a square foot right now. And the median home prices are hovering around 724 999 58 days is the average days on market for this area right now. Okay, 58 days. For the condos over there. We're looking at around 349 999 So basically 350 median price and the price per square foot is around 284. And it's sitting for about 47 days. We're gonna move on over to North Las Vegas. All righty. So the northwest valley of Las Vegas, that particular area or zip code I'm using as 89081. That price per square foot is going for about 232 So you're still getting a little better bang for your buck. median home price is 450,000. And those mark those days on market are only 35 days. So isn't that crazy? So it's sitting longer in Summerlin and in Henderson. And you say, Wait, why? Why? Well, I mean, the median home price is 450,000. So it's still, you know, fairly reasonable. So you know, with a rate hike, people can afford that payment more so than the average median home price of 676. Is what I'm, you know, thinking that's why they're, they are still not flying off the shelf, but they're still moving really, really quickly over there. So 35 days is the average days on market for North Las Vegas, their condos are going for around 251. And they the condos now, this is interesting, the condos are actually sitting for 74 days in North Las Vegas. Now I'm thinking that's because, you know, the investment buyers, you know, the investors are looking more so in the Las Vegas, Henderson area, just I think, because more of the attractions are out that way. So maybe that's why the North Las Vegas condos are sitting for a little bit longer, but yet their homes are are not sitting as long as the rest of the valley. That's interesting, right? And then let's move on to the east side, east Las Vegas 89156 zip code, that median home price and is going for about 390. Okay, so so far, that's the lowest right? median home price over on the east side that's up in the Hollywood area. You know, in the Bonanza and Hollywood, Nellis area, those homes are sitting on average for about 62 days on the market. All right, there are condos are going for around 195. Yes, you can still get a condo for around 195 on the east side. So my investors, you know, that's something my first time investors, maybe that's something you would want to look into. price per square foot for the condos are 185 Per, you know, per square foot and average days on market for the East Side condos are 60 days. Okay, last part of the valley, we've made our way all the way around. So we're gonna go ahead and talk about Mountain's Edge area. That's a very sought after areas, well, their median home price is 299 900. And their average days on market are only 30 days. So mounds edge is right there with North Las Vegas. All right, I'm sorry, that is condos. I'm sorry, those are condos that I just rattled off. Now let's talk about the houses, the houses over in the mountains, Edge area. 89148 are actually at about 545,000 as the medium home price, and their average days on market are 53 days. So they're right there with Vegas and Henderson. So you know, but yeah, so that's where we're at guys, that was just a quick little market overview. So now you have a couple of numbers, you know, to think about and kind of have an idea. You know, I always send out what's called the auto drip campaign to to just show you what's going on, show you the properties so that you can see what's out there and you know, and then that way you can make your decision on if you want to move forward or not. But right now, I've been telling people you know, I would almost call this a overnight buyers market. Yes, I said it and overnight buyers market. Listen, you're listening to Monique Buchanan on the 91.5k U and V jazz and more station. And this is the welcome home with Monique show. If you have been thinking of purchasing or listing your property, I would be happy to help you. My number is 702984 3700. Again 702984 3700. And you can reach me at www welcome home with monique.com or you there's always my YouTube channel. Welcome home with Monique, I've got a bunch of my previous shows there, as well as a lot of great information that I do not discuss here on the show. You can also jump over there and take a look please like and subscribe. Of course. My IG handle is at realtor Monique Buchanan Okay, let's jump on back into this. If you have been thinking of selling your property, listen, yes, the market has changed. But I'll tell you this, I don't see it getting better, you know, or getting better for the seller, I should say at this point. You know, just like I said three months ago that it was the top it was the peak, you know, my sellers were cleaning up. We were able to list and get you know, over our list price.

Unknown Speaker 9:41
Am I seeing that now? Not so much. In fact, I'm actually seeing a lot of the listings sitting for sometimes three, four weeks without even one phone call. So I wouldn't wait much longer is my advice if you're thinking of listing your property because I think that every month that you wait you're We're going to be losing 1000s of dollars. It's just my, my thought on that. And that's what I've been seeing for my own sellers, you know, have we listed their property a couple months ago, we definitely would have made much more than than today. And that's just because of the rates, you guys. The rates are affecting all buyers, you know. Now my first time homebuyers it's a great opportunity for you to go ahead and start looking at purchasing guess what guys, we still have those downpayment assistant programs that are around. So if you don't have the downpayment right now, you're thinking Oh, my goodness, you know, I don't really have the down, hey, we have the downpayment assistant grants that can assist you, they will give you your downpayment and half of your closing costs that's still available today. 620 credit score, actually, they can go as low as 600 credit score, you just have to be on your job for at least two years. And guess what, guys, even if you purchased in the past, you are still considered a first time homebuyer. As long as you have not purchased in the last three years. You heard me right. So let's say that you own property back in 2016, you sold the property, whatever, it's not in your name anymore. You have been renting since then. You're considered a first time homebuyer. Here's some more good news. You don't have to be a first time homebuyer to take advantage of the grant I just discussed. You heard me, right, I can list your property, get it sold. Okay, then you can turn around and use that grant if you need. Okay, let's say that you're in a position where you're not going to make a lot of money on the sell of the property, but you need to sell it. You know, for whatever reason, I don't know, maybe it's a breakup, maybe you know, something's happened that you need to get rid of the property, maybe go into something smaller. You heard me right, I have a grant for you as well, we can sell that property, you can turn around to use this grant. Okay. And if you guys didn't hear me, please let your friends and family know that. Hey, if they haven't bought a house, and they've been renting, and now they're paying this high rent, by the way, I didn't. I didn't rattle off what the rents are. Let me do that real quick. Let me let's back this up. I'm just gonna do this real quick. So in the 89144 area, the average medium rent, median, sorry, 2595. Okay, that's Summerlin. So their average rent over there is 2595. All right, Henderson, average rent for 89052 is 2650 2650. You guys. All right, North Las Vegas, that average rent is 2150. Okay. And now the east side, their average rent for a home is 1925. So there you go. You're pretty much not going to get anything for under $2,000 today. And that was just the average rent. So you know, if you need a four bedroom or something a little, you know, like over 3000 square feet, you're looking at a lot more than what I just said. So with that being said, you're probably already paying these rents. And for what, for what, when you purchase, you have to do an application. Okay? You can find out the same day if you're qualified. All right. I just told you I can get your down payment paid and half of your closing cost. So when you rent a property, you've got to put sometimes what two, two times the rent, sometimes your security deposit, and the first month's rent, that's twice threat. So what is that almost 5000 in the Summerland case? Well, heck, that could be half of your closing costs right there and you could be purchasing. Right? So let me give you some numbers, guys. All right. So if you were to purchase a home at $520,000 that payment for you, if you put 10% down and it's a conventional loan, okay, that payment is going to be around 30 to 88 a month. You heard me $520,000 purchase, okay? 3288 a month. The average rent right now is $2,600. in Summerlin. Okay, we're talking probably for a very small house in Summerlin. So here we are able to purchase a home at $520,000. And our mortgage will be 3288. Roughly. All right. 10%. Down, that's putting you out about $64,000. Okay, but Monique, I

Unknown Speaker 14:23
don't have that kind of money. I don't have 10% down. I don't have that kind of money to purchase and pay 3288. Okay, let's talk about you. Then. Let's talk about you coming in at around 420,000. All right. You say hey, Monique, I do have some savings. I have my 401k I can pull that out with no penalty as long as I purchase home. Well, you're right. So you're gonna utilize that. All right, you got to put 3.5% down because guess what, you're a first time homebuyer if you have not purchased in the last three years. All right. So now you're only bringing 26,000 to the table to purchase your her home at 420,000. And your payments gonna hover right around $2,800 a month. But you are investing, you are creating equity and wealth for your family. You're not renting. We're now you're purchasing because I always tell my renters Listen, you're buying a house whether you know it or not. Now you need to understand, are you buying your landlord's house? For him? Are you going to buy your own home for yourself? Right? Right? So guess what, guys, you can use that grant? All right, you're like No, I don't have for 401k to it's been some tough times, I don't have any savings like that I don't have 26,000 saved. No worries, I've got that grant for you, or whoever you know, that is in that position. Okay, that grant will take care of pretty much the entire 26,000 everything, but that 6000 Because that would be your half of your closing cost. All right. 26,000 is your closing costs and you're down. That's what you would bring to the table without the grant. If you have the grant, you're looking at around roughly $6,000. And guys, we pay that to move into rentals. So why not go ahead and take advantage of the great deals that are out there right now. In the Las Vegas Valley. First time we've seen these kinds of deals, you guys. It's been seven years, since I've seen the market finally cooled down just a bit where my buyers are now, you know, I'm in a position to really negotiate a sweet deal for my buyers. Again, I'm negotiating closing costs for my buyers. So if you don't have closing costs, don't let that stop you. Do you have the credit? Do you have a 620 credit score higher? Have you been on your job for two years? I'm here to assist you. My name is Monique Buchanan. This is the welcome home with Monique show, you can catch me over on the YouTube channel. Welcome home with Monique, my number is 702984 3700. For more information about these grants or just about getting started with a purchase, or maybe listing your property, my number is 702984 3700. All right, so there you guys have it. Now listen, I want to also talk to you guys that that same grant again,

Unknown Speaker 17:14
okay, I'm just trying to give you options, I want you to become home owners, I want you to become investors, I want to take that equity that we make on your first purchase. And now we're gonna you know, in two years, you're gonna say, Oh, come on back. I want to invest in a multi unit. Yes, let's do it. Absolutely. You can Did you know you can invest for the first time with a multi unit out the gate with the grant, you heard me right, I can get you with this grant, you can buy a four Plex, you just have to live in one of the units for a set amount of time, I believe it's like four years, maybe five, you have to live in one of the units. But now you're an investor, you've got three other people paying your mortgage, paying off your first investment for you. You know what I mean? So that's, that's amazing. Because if you purchase a home with me first, right? And then we pull that equity out in a couple years, and we go purchase that same four Plex, well, now you're an investor, now you've got to put down you know, 20% as where if I purchase it first with you, you can use a grant and put down $6,000 or whatever, you know what I mean? That's crazy, because they do have for plexes right now, at that 420,000 or less, Mark. Okay, so that's just something to think about. So let's continue on you guys. They know something else I want you to know about the grant that I'm speaking on. You can also purchase brand new homes, brand spanking new properties. And I tell you what you will really do well, because right now the builders are back giving great incentives I just signed with one of my clients. Just yesterday, she got a sweet deal. She got a four bedroom for under $330,000 with a two car garage. It is a townhome. But it's you know, it's got gated it's a gated community. All right. Brand new, like I said, energy efficient. Okay, so this is her first investment, and it's a four bedroom. I mean, that's awesome. They have some other ones. She'll be moving in in November. Okay. So yeah, congratulations, Miss Gibson, by the way. So she's a teacher, and she also got $1,000 credit from the builder because she is a teacher. I was able to get her the Deal of the Week, she got $6,000 towards her closing costs, or she could buy down her rate, I believe we're going to go ahead and buy that rate down to 4.75. All right. So you know, the builders are giving incentives again, they actually going to give her a washer, dryer and refrigerator. So it's a sweet deal. I'm very happy for her and they do have Some other options over at that same community. All right, three bedrooms, two bath, ones, 1366 square feet, two car garage. The other is 1208 square feet. And it also has a two car garage. All right, these properties are going for, like I said, under $330,000, I believe one was as low as 309. So if you're out there looking into, you know, you're not approved for, you know, four or 500,000, that is a great option for you. I can get you over there and get, you know, and give you a tour of the property and go over some of the incentives that they will have for you. All right. So if you use that grant, remember, that was at 420,000? Well, this is a whole $100,000 Less at 330. Right? You use that grant. Now you're probably looking at a brown bringing in around $4,000 out of your pocket. But wait a minute, the builders giving a $4,000 credit. So now what are you going to be bring it to the table? Yeah, I mean, you can do the math. Not much right. handshake and a smile. So listen, there's a lot of great deals out there right now with my new home builders. That is where my heart lies. I love brand new builds. You guys heard me talk about the current properties out there in Pahrump they have four bedrooms for they're going for under 400,000. They're all single stories, 10,000 square foot, lots you guys. And also here in the southwest area, mountains edge, they've got some beautiful homes going for, like 580,000 600,000 views, these homes are 3000 square feet or bigger three car garages. I mean, you know, so in that area, that's, that's awesome. And they also have some moving ready properties, in other words, standing inventory. So that's something to think of they're giving you $30,000 or 6%. closing cost. Once again, like I said, they're out there giving those closing costs. Don't go to these new home builders, without your realtor. You don't want to go to court unrepresented. Don't go to the new home builders, unrepresented. You guys, you do not at least for me and my team, you do not have to pay us. We are

Unknown Speaker 22:11
zero $0.00 To walk in there and compensate in you know, the builder will compensate us. But we will walk in there and have your best interests and make sure that everything that's promised to you actually ends up in that contract. Does that fair? You like that idea? My number is 702984 3700. If you've been thinking about purchasing new home builds, let us be your guide. Let me be your guide. I know what to look out for I know what to ask. Okay. 702984 3700. All right, guys. So maybe you're thinking to yourself, well, Monique, all this sounds great. But unfortunately, I'm in a position where I cannot qualify for traditional financing to purchase a home. Well, guess what? I've got some options for you now, right? 100% financing available with a 3.5% downpayment assistance. This applies for people that have it i n. Okay, if you have itI N, there's 100% financing available for you at 3.5%. down if you have a US government ID.

Unknown Speaker 23:17
And I hope I say this right, a matricula consoler ID or passport from a country, a different country, employment has to be in the same line of work consecutively for you know, two years. All right, one year tax returns or three month bank statements with profit and loss. If you own your own business, you have to live in the property. So it has to be your primary residence. But this is a great opportunity for somebody that cannot knows that they won't be able to qualify for traditional financing. There are options for you as well. Now, maybe you're one of my people that say hey, Monique, I'm not even sure if I want to live in Vegas. You know, I love it, it seems you know, really good, but I'm just maybe I'm just stationed here. I'm not quite ready to actually buy. Well, there's a try before you buy lease to own option as well. You guys have heard me talk about it. So let's go over a couple of the requirements. Okay, you have to have at least a 620 credit score or higher. All right, no criminal history, at least $40,000 household income. And just like when you read, they're going to ask you for the two most recent paycheck stubs you know, two months bank statements if you're self employed, all right, and when you go to rent the property, they're going to ask for just like any other rental, two times the rent was what you'll put down as a security deposit. In other words, let me just tell you how it works. Okay, the company becomes my buyers but they're buying on your behalf all cash. So you're dealing with them and they're dealing with me if that makes any sense. So I'm representing them. But I'm taking you out to go look at the properties you're going with me. We're looking at properties that are for sale. You find the property, you say, Monique, this is a property I want. I said, Okay, great. I go back to the company. I say this is a property, my k u and v listener wants to buy, all right? Or wants you to buy for him or her. Right? Okay, no problem. They do that. All righty. You are not obligated to purchase that property. At any time. You heard me right, you are only obligated to live in the property and rent for one year. After that one year, you tested out the house, he said, You know what, I don't like the neighborhood, I thought I would. But I just don't, I don't want to buy this house anymore. No worries, they treat you just like any other renter. And that's it, you move on, you're not obligated to keep that property isn't that great. Another thing that I liked that they do is that they lay out your rent for you for up to five years. So if you decide to stay in the house that you chose, okay, the property that you chose, you can stay for up to five years and you'll know exactly what your rent is every single year for five years. They do not go up further than 5% per year. All right. So that's awesome. Just right there if you just want to lock in your rent and know what your rents gonna be, you know, so you know, you and your family don't have to pick up and move because now the seller or the landlord has decided to sell Okay, so there's that they also lock in your purchase price. Okay for up to five years, so they lay it out in front of you. Okay, Miss Mr. Mrs. Kay, you and B listener. Year one, this is what it will cost you year 2345. And typically, off of the example that I seen, it was going up about 10,000 per year, so that's very reasonable. So even if the home gains equity, let's say the home you purchased or they purchase on your behalf today was only worth 400,000 But in four years you decided to live there for and rent for four years. On that fourth year it was now worth 700,000 Guess what you're locked in at whatever price you guys agree to sell probably 440,000 No, they're not going to turn around and say now we want 700,000 So I think that's a great you know, opportunity for people that are just not quite sold on purchasing now. So anyways, if you're interested in that

Unknown Speaker 27:23
you can text 702984 3700 You can text lease to own altogether no spaces lease to own you can text 702984 3700 Well once again guys, I hope that I brought you some information that is blessing either you or a family member or friends are really appreciate you guys always referring business my way. It's much appreciated. Listen, I'm gonna go down to the gambit tonight. Okay, it's Thursday night. K u and v has an amazing event there every Thursday at the Gatsby inside Gambit. Henderson. Okay, they've got a live jazz singers. Let me tell you I had a great time last week. Miss avana Christie was performing she was amazing. So I didn't make it to the dinner that starts every Thursday at six o'clock. But the show starts at 730 and it goes until 9pm. All right, so if you want to meet me I'd love to shake a hand meet a friend. I'll be down at the gambit. Henderson tonight. From 730 to nine I hope to see you there. And don't forget if you've been thinking about getting those solar panels. My listeners are getting $1,000 Cash Back rebate when you text solar to 984 3700. Again, if you have been thinking about getting that solar savings but not only that, these are special solar panels that will not follow the buyer if you decide to sell so this is very big if down the road you want to sell your property. Normally you the new buyer has to be approved for your solar panels. Well guess what? This particular company does not do that only one I know. So not only are you getting $1,000 Cash Back rebate, you also don't have to deal with that headache when it comes time to sell. So if you've been thinking about getting solar panels, you can text solar to 702984 3700 and get $1,000 Cash Back rebate Listen, this is your friend and real estate Monique Buchanan. I hope this was a blessing to you and I hope you have a blessed week until I hear from you. 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.

Transcribed by https://otter.ai