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. Well, hello, Las Vegas. It's Monique Buchanan, the host of the welcome home with Monique show. I've got a great show for you guys today. Listen, I hope that you guys are enjoying the holiday. I've got one of my favorite new home consultants, Misha nail coming on the show to educate us on the process of buying brand new construction homes. She is a new home consultant with one of the top luxury Builders here in Las Vegas. So I'm so happy to have you. Hi, Chanel. Hi Monique. And hi Las Vegas. Thank you for having me. We're so excited to have you. So I'm we're coming we're gonna come on today and we're going to talk about the the ins and outs of buying a new home construction. You guys have heard me talk about, you know, it's a great time right now to buy. Am I lying Chanel? Am I making that up? You are not? And we're not lying? No, I'm telling them that you know, I've got family members, friends that reach out? I'm sure you do too. Absolutely. Is it a good time to buy? Yes, it is why why do you think that? Because, listen, you hear all these rumors about the rate, the rate the rates are high, which they you know, compared to I guess, you know, January they are high. Right. But if you compare them back when my dad bought a house, they're they're low. Absolutely. My dad bought his house at what? 13%? Right. Yes. So this is not uncommon that the rates are going up and are expected to continue to rise. That's what we expect. Absolutely. And so you know what the market is always a fluctuation, right? So if the, the interest rates are going to rise, right, and then prices might come down a little bit. But you know, it's always a fluctuation. So I always tell people buy real estate and wait, don't wait to buy real estate. That's good. Actually, yes, absolutely. I say don't follow the crowd. You know what I mean? Here's the thing, if you are one of those people that say, you know, I just don't know, the rates might come down next year, we'll do this. Do that to one buy now, where it buys you the two years. In fact, Chanel, your company actually offers that buy down as one of their incentives where it will buy the client, what, two years to see if those rates come down. So their mortgage is cheaper for just those two years. And then if they don't that third year, it becomes fixed. So it's not an arm. So after that third year, it's completely fixed at what it would have been from day one, right? That's right. So with my company right now, we're offering some special financing rates, right? So we have special fixed rates. And then on top of that, you have the option to do the to one buy down. Right. So let's give an example. Right? So we have a promotion right now, if you close your home by the end of January, we're offering 4.875% interest rate and I'm sorry, stop real quick. back, rewind, rewind. I'm so sorry. Did did you say that my buyers, my K, you and B listeners that are hearing me right now. If they reach out to me, and I get them with you, you are able today and of course this is just an estimate today's rate today's rate, you can lock them in at a 4.875 is correct. Yes. Honestly, she's able to get you a 4.75 rate with a brand new home. Yes, I'm sorry. Go ahead. That takes right right. So that's a fixed rate 30 year on top of that you have the option to do a two one buy down. Okay. Right. So that means that your one your 2.875 I'm sorry, wait, wait, wait. So this is news to me, because we did speak you know, and we do have a relationship? Yes, but I didn't even know that. Yes, I didn't know that you could marry the two programs together. So if you're just joining us, this is money began in the welcome home with Monique show I am your Las Vegas Real tour. I've got one of my favorite new home construction consultants will on she works for one of the top luxury Builders here in the Las Vegas Valley. And just to recap, you're saying hey Monique, we've got two programs but you can actually marry the two together if you so choose, which will allow you at in 2023 Let's pretend that you buy with with Miss Chanel. You know I get you out there you by next week. So she locks your rate. And let's say that at the at that time that day, the rate is still the 4.875 and you decide to do the to one buy down at the builders offering your first year at 2023 will be at 2.875 current rate. Yes. So that mortgage payment is going to be so low, right? And then it'll go up what 2% Then it will go to another percent. So then a one two, so year two, you'll be at 3.875. So 2020 for that whole year they'll be at 3.875. So they so that's it The rates don't come down, then you know, they can they're already at 3.875. Correct. And then you're three through 30. You're at your fixed rate 4.875. Well, there's no need to, if I got a 4.875, there's really no need for me to read to refi. Okay, so No, we just, we just wiped off the slate. Right. So all the concerns that everyone had about the rate, like, come on down, we got you. So yeah, so this, this new home builder, like I said, you guys, you guys have seen their product, I can definitely get you with Miss Chanel. And she can walk you through the product and show you the homes. They're very well known builder out here. And this is a phenomenal thing that they're doing. So let's just break it up. Let's talk about and explain if they don't want to marry them, which I don't see why you wouldn't want to marry those two. But these are only for spec homes with. Okay, so first of all, please explain what a spec home is for my K you and B listener. Right. So we are normally we are a dirt builder, right? So we will build your home will take the six to eight months to build that home. Right now we have available inventory, which we call the spec home. Okay, right. So everything has been pre selected, your home gallery options have been pre selected for you. And with that we can move you in sooner. Okay. But within with the home gallery options that have been pre selected, they still can choose the color schemes most of the time like Like for instance, we have a client together. She wanted the white cabinets and so there was like some option there for her right. And so normally what happens is that the home itself is already pre selected. But we have options for you, right? So if you tell me, Chanel, I want a home, but I really want white cabinets in this house, I might have three different options for you. And we're going to pick that home that you know fits what you're looking for. That makes complete sense. So it's not like you have zero options. We have some we have about 80 homes available right now for quick move in. So you know what, what part of the city? Do you guys have these homes all over the city? We are actually even in Peru up in Mesquite. And what like up to how many square feet? Do they go? Well, we have product up to nearly 3000 square feet homes, all the way down to I believe 1200 square feet. Oh, wow. Okay. And then in the northwest valley, they're in Henderson all over. Yeah, they're in the southwest mountains edge area. musky, brand new builds, so they'll be the first people to live in these homes. Okay, so I keep interrupting you the two one buydown is something that your builders offering. Like we kind of explained it, you said that if they had that, let's pretend that they didn't get the 4.875 for whatever reason, okay. And once again, this is just estimates, folks, because the market changes every day. But let's pretend that today's rate of 6% to make it easy, right? They I get you, I take them over to you next week, or I send them your way next week. They look at the homes with you. They said this is gorgeous, right? They say I love these homes. I want to move forward. You say okay, no worries, we're gonna go ahead and do the to one buy down. Okay, great. This is what that's going to look like 2023 all that year, instead of you paying the 6% that you would normally pay today, you're going to pay 4% Correct interest, which means your mortgage payment will be much cheaper. Right? You're going to have those savings all year long. Now you're in the REITs don't come down all 2023. Okay, now 2024 comes around. Now. There'll be at 5%. Right. And that's all year long. 5%. Still, that just lessons that, you know, great. That Guess what? The rates don't come down again. Now we're at 2025. Right? Three years later. Now they're just going to be in the normal rate that they would have been out in out the gate. Do I understand that? Right? Correct. You have a right. That's perfect. That's perfect. But at any time, if the rates plummet for some reason, like people are thinking they're going to do some folks think that if that actually hope for the best, hey, I have no G I'm not a genie in a bottle. Right? You know, so I can't say for sure. For sure. I can just look at historically, you know what I mean? But anyways, so let's say that that go all the way down to two, let's just be real happy. They can refi out of this and jump into that 2% fixed 30 year, yes, you have the option to refinance. And also there's no prepayment penalty penalty so perfect. So there's no prepayment penalty at all, which means I can pay the house off and not be hit for any craziness. Okay, great. Now, another thing that you had was the which I just like I'm just blown away by this. You can lock them to well today whatever day whatever that rate is. Estimates only but right now 4.875. Yes. And that's 30 years fixed. Yes. And that is for homes that can close by the end of January. Okay, so the but you have homes that can close you have at SPAB at homes available ready for these folks that have a home for the holiday? Yes. Some of them can close before Christmas. Some of them if you if you call me today. I can get you in by the end of the year.

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Wow. So they can have their New Year's party in their brand new home They bought at a 4.875, fixed 30 year, their friends won't believe that they're gonna say how did you get a 4.875? When all I hear about are all these high rates, right? Yes. And it's true, the rates, the standard rate right now. And once again, this is an estimate is that 6%? You know, my lenders tell me, you know, every day around what the rates are, you know, you know, that's when that's the you could go back in time, as far as rates go exactly

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when your bills are, at that rate. When people were saying, Oh, I wish I would have bought a couple months ago, I

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wish I would have bought last January, well, Chanel is here to make your dream come true. There's no more wishing. I love it. I love it. That's why I make these you know, these connections with you guys. Because you guys, you know, you're in the know of what's going on in the market with the brand new home builds, and the incentives that you're having. I like to share that with my listeners, and always give them you know, what's out there. So and you know, unless they're not listening, if they're not listening to the show, they're not going to know that there's actual brand new home builder, brand new brand spanking new, custom luxury homes, at a 4.875 rate. Yes, yes, ma'am. Miss Chanel, I love it. So let's talk about our VA buyers. Now when they come to you, I was telling my clients or my clients, my listeners, my last VA that I sold a property to he actually got his earnest money back. So he paid zero out of his pocket. Yeah. So that's the benefit of being VA. Right. We are thanking you for your service, and we're not, we're gonna cut you that break. Yeah, that deposit goes back to you towards the end. Yes, yeah. So So you guys offer the closing costs as well. We do offer a percentage of the closing costs, it depends on the spec home or if it's going to be a dirt build, we do offer closing cost assistance. Okay, so hypothetically, a va buyer could walk, I could send him your way. And he could get that property before New Years, right at a 4.875 rate, which none of his friends are gonna believe right? And possibly come out of his pocket with just what a couple grand maybe if that, if that, if that because of closing costs, for the most part will be paid by the builder. Right. And he has zero down? Yes. So the credit score, I believe for that. I think my VA buyers, they have a much less credit score that's needed. I want to say only a 620. As far as my my my knowledge is, but you know, everybody's different. Every lender is different. Maybe what is your lender require for your VA veterans? Do you know what the requirement for special financing the 680? Okay, but that's only for that special finance, we have other offers for you, we do have some a little bit higher interest rates, like five and a half percent if your credit is not quite there. So we do work with you. Five and a half is still lower than what it is going rate is still great. Okay, so in order to get that the lowest rate, and that's with anything, yes, they have to have the higher credit. Yes, yeah, FICO score of 618. Yes, for that particular 4.875. Correct. That makes complete sense. And we want to bless our veterans for the holidays for sure. Okay, so if you're just tuning in and you want more information on this, or you want to get a hold of Miss Chanel, you can call 702984 3700 702984 3700. You can also jump on YouTube, I always upload all of my past shows on YouTube, so you can check out welcome home with Monique on YouTube. And my website is www welcome home with monique.com. So we are just talking to Michigan. Now she's with one of the Luxury Home Builders here in Las Vegas, Nevada. And she is going over some of the incentives that they have right now. Are they giving any appliances away? I want to ask you that. Well, a lot of our spec homes do come with the appliances, not all of them. It really just depends on the lot that you pick. And we can go over what's included in that home. Okay, so we talked about how soon they could be in when they could literally be in one if they get if they call us right away. If they call us soon enough. We can have them in a home by the end of the year. Yes. And they can have their New Year's party by the end of the year. I actually have a model home for sale right now will tell you about it so the model home for sale can close and can you can apply that 4.875 interest rate. So the home is highly upgraded. It's roughly 1800 square feet, three bedrooms with the loft. The good thing about this home is it's landscaped. I mean, that's one of the biggest things when people come in they say well, what do I have to do with the backyard? Yeah, you have to landscape it. Yeah. And just like a little tidbit. I'm glad you brought that up guys. A lot of folks don't realize that when you buy a brand new home, they typically I don't know of any that do they don't come landscape. No. You're lucky to get rocks back there. You know, normally he's just dirt. Right? And then you have to you have to do that you know have that done or something within within a year normally. So this particular home was going to be already landscape. What does it have back there? It has artificial turf, bushes, trees, it has a gassed up for a barbecue grill. It has a covered patio with pavers underneath. Very nice very nice backyard pavers in the driveway. Yes nine was in the driveway. You have Have a little courtyard in the front. And it was how many square feet roughly 1800 square feet. Okay, nice. What areas the same. This is North Las Vegas. Okay. The new North Las Vegas, Las Vegas with so many amenities there you you're not too far away from the cannery, you have all of the new restaurants that are coming up. And if you're a vet, you're actually not that far from the Nellis Air Force. Right. What about five miles? Yes, that's that's a lot of VA in that community. Downtown is about seven miles a lot of shops. To the freeway. Yeah, yeah. I actually know which one you're talking about. I went and viewed that property. And it was very close to a lot. Yeah, a lot of a lot of shopping. Yes, lots of shiny. Notice that all the time Starbucks was right around the corner. So that's very big for me. And the nice thing about that is it's actually the last house it's a close out community. Okay, so with that you don't have to go through any construction. You know, you know what the HOA is? The HOA is $49 a month. It's not too big of a community. I want to say roughly 8080 homes in that community now. Yeah, how many? Like what is your guys's price range? Can you tell us a little bit about your builders price range? Yeah, so we have homes for as low as $325,000 up to million dollar homes? Yes. So we have a wide range to sell a couple of those in there and I goodness that's all I have to say about that. But you know even the even the you know the the product at 325 You know, you guys still keep those same standards. Okay, and remember, if you would like to view some of these properties, you can text 702-984-3700 You can text new home all right. And you'll be able to see quite a few of these homes that Miss Chanel is speaking on. Now listen, guys, remember this is a holiday special home for the holidays. This special will be over by the end of January unfortunately so please listen, do not sit on your hands with this one. I can get you with Chanel. She can get you out there to look at these properties get you approved. Get you locked in if the rate is at 4.875 That day, that's what you'll be locked in for 30 years. You heard me right. These are brand new home builds right Chanel. Yes, brand new. That's crazy, but but they're on a time crunch. Yes, absolutely. I mean, this right now is the end of the year for us and we have a lot of incentives for the buyers we want to push through the end of the year we want homeownership to be possible and we know that people are a little bit you know hesitant right now right and we know we're trying to ease that and we understand and we are being flexible and we are working with you know the buyers that come to us right you guys are addressing that concern which is the rate yes I'm like I tell them all the time Mary the house and date the rate you know the rate you know take the rate out to coffee don't take it out to dinner because you know the the rate can change you can change so you know don't get hung up on that. If it changes like always say listen, if it changes refi great. If it does not change you were just able to get a killer deal on the property 70 The homes have went down in price they're gonna save some money right? Oh yeah, yeah, we've we've had to slash prices you know, absolutely everybody my sellers as well. So you guys have slashed with last slashing you've done well, I mean, we are community recently my community I mean, we were probably around for 20 average price. Now we have homeless for 399 950 But you said like you said these properties go all the way up from a million which you can assist them with as well. Absolutely. You've sold those as well. Yes, we have three homes our series homes that our Summerlin Skye Canyon marble Mesa which is by Lake Las Vegas. Nice I love that but I did break up with a guy one time because he lived in like Las Vegas. Um, just you know,

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I don't blame you. Listen, I always love that that's that's our like staycation right yeah, away.

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That's exactly what it is like, that is my staycation. That's like me going Arizona. Right. I do. I feel like I really feel like I'm out of town when I go there. No, seriously, and it's so peaceful and it's really beautiful. And like Las Vegas. I do think it's gorgeous out there. But and then listen, don't get me started off his gas prices. Okay, guys, reel me back in you guys know, I can get off on a tangent. But honestly, to bring it all back. Let's just recap what your builder is offering Mike my listeners. If they call me and I get them with you. You're able to get them into a home before the end of the year if they so choose. If not they will have their home. How long does it because these homes are already being built? Correct. The specs? The spec homes? Yes. There's at prices all the way up to a million all the way down to 325. Right? Yes. Okay. So there'll be able to get into a home if they need it soon. New Year's, if they need it. April. How does that look? Yes, we have homes that are in various stages. So you know, we're continuously building Mmm. So you can get in, you know, in the year in January we can get in, they just need to go through the process and get approved and start the process before January 31. Yes, I understand that. And then keep this in mind to you guys, some of my people that are listening, they're like, Well, I'm in the lease. Well, for me, for one, I'm not gonna let Elise stop me from purchasing a home, we're gonna have to work that thing out. But one thing I do want them to know, is this, because that will end up costing me 1000s If I, you know, possibly cost me a lot of money by waiting on that lease. But anyways, here's one thing I want folks to know, when you purchase a property, you always skip one month's mortgage, sometimes, too, right? And that gives you a little cushion, you know, so that way you can slowly move into your home, and, you know, still have your rental if you still need to do that transition. So always try to make folks aware of that. So just keep that in mind. Okay, so real quick, we're going to recap, the builder is giving up to 2% towards the closing costs if they need it. Or they can do the to one buy down, which we discussed, but we'll touch on it again. Or they can do the locked or not the lock Yeah, lock 30 year fixed rate of at this today. 4.875. Okay, and of course, these are estimates that change all the time. Or, and this is something that we didn't talk about, your particular builder will lock or rate for up to what is it a year, 325 days. So we have many options for the finances. And honestly, I'm not a lender, right? So I'm not going to really right, tell you what to do or how to do it. But you know, the options are there. And that's what our job is right is to give you the options and to see what works best for you and your family. Absolutely. I'm just thankful that they have all these options that address the concerns of a lot of my listeners, and a lot of my clients. And that's why I bring my clients to you Chanel, you know, I love my colleagues, but some of them can tuck well over my head. And I'm like, I'm sorry, what is that? What are you? What are you saying? You know, because we just get going, and we don't realize, but that's something I love about you is when I bring my clients to you, you sit them down, and you thoroughly go over everything with them, and in a way that they can understand. So thank you for doing that. Absolutely. It's very important to understand I mean, this, this process, it's it can be overwhelming, right? And you just need to know that you have someone that will answer all the questions that you have. Right, right. It's important, I'm not hiding anything, I want to be as transparent as possible. Yes. And I want to give you all the information. And I want to I want you to understand this process, right? Because it's important, it is not retail shopping, we this is a serious thing. It's very serious. And that's something else I want them to know, when you buy a brand new home, you have to realize the builder is footing all the risk, you know, so they have to make sure that you are pre approved. And Chanel can help you with that. She'll get you with the lender and get you pre approved. What how long does that typically take a day, two days? How long does it typically take for them your holiday season?

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You know? But today, I would say two to three business days is our average. Okay, that's

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not bad. So they could know quickly. Yes, but they can view the property ASAP with you. Yes. Right away. Call me. Yes. Yeah, so once again, my number is 702984 3700. If you want to get with Chanel 702-984-3700, you can go out view these properties with her. You can pick whatever side of town you're looking to move in, if you want to say hey Chanel, I want to see properties in Summerlin, she's got them for you, you guys over at spec homes ready to go for you. Okay, for you to choose from. And those are all across the valley, including Pahrump. And they all have these same incentives, where you're able to purchase a home with a two one buy down, which means that you'll have two years of a lower mortgage payment, while you wait to see if the rates are going to come down. If they don't, from year three to 30. It's fixed, no funny business, you can marry that same program with the 4.875 and have that first year at 2.8, some five, and that third year at 3.8. Some five, what does that mean? That means a really low mortgage payment, okay, for you know, for the same time, but I don't even see why you'd want. Like I said, I don't see why I would want to even refi if I had a 4.875 I would just ride that thing out for 30 years. I mean, unless it came down to 2%. Exactly right. And then she also has another product with her builder that will allow you to lock the rate for one year. So folks don't realize when you're shopping and if you're listening right now, and you made the mistake of not calling me. No, I'm teasing, but if you're buying a home right now, and your lender told you that your rate was x x x, whatever, that is not going to be the case until you find a property. Okay, so you have got to find a property first before your lender can lock that rate. So please keep that in mind. So if he tells you your rates at 7% 6% It all depends. Remember, these are estimates because the market changes every day. So when you're a realtor Hopefully it's me, we find the property and I get you into contracts. You know, I do all my magic. Now we're in a contract that is that at that point is when the lender can go ahead and lock your rate that is with resale properties. In other words, properties that other people have lived in not brand new home builds, with brand new home builds, they cannot lock that rate. I believe it's 90 days is the soonest or the earliest I should say that your lender can lock the rate. Okay, that's an option that they have, and you can get more information 702-984-3700 My name is Monique Buchanan. I've gotten another the mission now from the luxury home builder here in Las Vegas, just going over some of the incentives and the spec homes that are available for you. They're already being built. They're ready for you to move in. They've got great incentives, but this will run out right now. Absolutely. You have until January 31 to close your home. So get with me as soon as possible. So we can go over all the options. Okay, so you said to close a home that means that they so if they come to you on January or if they call me they wait till January 28 to call me right. And I get them with you. That's too late, right? Because they can't close. Okay, so how long does it typically take to close? Well, it's all up to financing right? So it depends on what stage you're at. If you have a previous outside lender, sometimes we can move a little bit faster because you've already had those documents kind of prepared. They're already working. Okay, so they're listening to us and they're like, Oh, my goodness, that sounds amazing. We're already currently looking at all these resale properties but we're not seeing anything we like you know, do you know it did not even dawned on me when I was looking for my own home to buy brand new, I just didn't even think of it. A lot of people don't and there's so much benefit in buying brand new you live in a desert free high energy efficiency with new builds. Yeah, I mean, not only that, but just the price itself is you know, comparable to the resale especially right now. Right and then look at what you're getting. You're getting year warranty you're getting 10 year structural warranty, right you know that you know who's lived in it. It's like a brand wise, it's like a brand new car, you know, versus a resale car. You don't have to wonder did these people change the oil you know what I mean? This is you'll be the first person to live in this home. And like she said you're gonna have those warranties in place. You don't even need a home warranty. You know what I mean? Because it's already there. But the but the roof is made with you know, special, right? The wind area right? Yeah, the lights are all led so that saves you a ton of money. Most of my clients that buy brand new homes, they call me and tell me in the summer, their bill did not go up past well if their home was like 1500 square feet like 130 bucks. I'm like floored because I bought resale I love my home I'm thankful Thank you Lord for my home. But let's just say I'm not paying that. Yeah, yeah so you're saving so much with buying brand new and if you are looking for a home right now. Brand new is please consider it because I really do wish I would have thought about that. So once again 702-984-3700 Monique Buchanan on with Misha now. Thank you so much for coming on Chanel, you gave me information. Don't miss this special holiday special only. Okay. 702984 3700 We love you. Bye for now. Until we until you come on again. Alright guys, have a blessed weekend. Thank you for listening. This is Monique Buchanan. My license number is S 1788 46 and I am part of EXP Realty Tune in next week.

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