Welcome Home with Monique

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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 Jazz and more. Or the University of Nevada Las Vegas. You see me on the

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Good morning. This is Monique Buchanan, the host of the welcome home with Monique show. And on this show, I talk all things real estate. Listen, I want to thank you for tuning in.

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Well, hello, Las Vegas. How are you? Happy Saturday. I hope you're enjoying this wonderful weather. Once again, this is the welcome home with Monique show. I am your host Monique Buchanan. I'm a local Las Vegas Real tour here in the Las Vegas Valley. And I do the show to enlighten my community with the opportunities that are out there as far as real estate goes. Is that fair? Okay, great. All right. So today, I'm going to try to appeal to my buyers. And I know that last week was a buyer show this week also was going to be a buyers show as well. And the reason for that is this you guys. The window is shutting Okay, the the opportunities are getting smaller, I'm starting to see a lot more activity on my listings, a lot more buyers are coming through the doors for my listings. And that is concerning me for my buyers, because right now is a great time for you to take advantage of this market. Okay. Right now I've said it time and time again, I have the ability to negotiate you a great deal. Okay, this is the first time in my career really here in the Las Vegas market, that I've been able to negotiate a great deal for my buyers because it has been a an extreme seller's market for most of my career here in Las Vegas. Okay, so I was just telling a young lady on my way in here, she called me she said, Monique, I listen to your show, I'm ready to take that leap and go ahead and get me and my children a home. And that is near and dear to my heart. Because like I've shared with you guys before. My whole motivation for this show. My whole motivation for my career was because I was a single mother at one point. And I tried and tried and tried to secure a home for my child. And because the folks I was working with were not knowledgeable about the opportunities that were out there as far as grants goes, and things like that. I was not able to do so. And that hurt me financially, had I been able to secure a property, you know, back when I was looking in 201 that would have really helped my family out a great deal financially, let's just say that. So I don't I know that God allowed me to go through that so that I could be here with you today, he opened up this opportunity to be on the radio. That's nothing but God To God be the glory. And I know that he allowed me to go through that so that I would have the passion that I have for getting folks into home ownership. So that is why I'm here. So anyways, let's just jump into the show. I'm going to try to like you know, break this down for you guys. As simple as I possibly can because I want you guys to be able to grasp what I'm talking about. So I'm talking about downpayment assistance grants. Does that apply for me? Well, you know what, if you've been renting your property for sorry, my phone is going off and you don't sorry, you guys. So if you have been renting your property for at least three years, you are considered a first time homebuyer. Okay, what does that mean? That means that you you are very well likely to get a downpayment assistance grants. There are some grants that don't require you to be a first time homebuyer but there the majority of the ones that I'm talking about do and so all that means you guys is that you have been renting your property for three years. I don't it does not matter that you bought back in the day, it does not matter that you short sold, you know, eight years ago, okay? All it means is if you've been renting, you are now considered a first time homebuyer. This, these grants that I'm about to talk about, they can very well work for you. I've helped over 100 families using these grants, you guys they work. I even bought my own home with a grant years ago. So they work it actually is not you know, it sounds too good to be true, but it's actually true. So let's just jump into it. Okay, so let's say that you call me say You know what, Monique, I really want to try for one of those grants, you're talking about how does this work? The first thing I'm going to ask you is do you have two years on the job? No, it does not have to be the same line of work. And no, it does not have to be the exact same company as long as you have been employed for two years straight If you had a little break, don't worry, we can get around that if you've been off your job for more than three months, I'm pretty sure it's only six months that you have to be back to work. And we can continue that. So don't don't tell yourself that you can't get approved. Yeah, you very well could get approved, you just need to, you know, you know, you just need to know what the guidelines are. And that's why I'm on now. So you can reach out to me, and I can get you with somebody that can get you approved for these downpayment grants, two years on the job, 640 credit score. That's not that's not very high, you guys, I also have a credit person that can assist you in getting to that 640 credit score. All right, if you have student loans, like today, I was with one of my other buyers, we were out looking, he got a little discouraged. Because he he took my advice and had a couple lenders run his credit, right? And one of the lenders came back and said, Well, you know, what, your you're approved for less because of your student loans? Well, you know, he's got over $100,000 in student loans. So he was, you know, discouraged. Oh, no, you know, but what the lender did not realize or did not share. And that's what I said, you always want to go to a couple lenders, but I only deal with lenders that have that are seasoned, that know exactly what they're doing. Okay? Because, you know, just like with anything, just like with real estate, a lot of folks and I'm not bashing realtors that get, you know, do real estate part time. But if you're not in something continuously, you know, full time, then you could miss something very easily. So those lenders miss the fact that with FHA, you, you don't use a formula of 1%, you only use a formula point 5%. And I am not a lender, I'm just regurgitating what my seasoned lenders have told me. So when he figured that out, and he, you know, looked into it, he found out that yeah, they were wrong, they were going by a different, a different formula that did not apply. So long story short, if one lender has told you that you were not approved, please don't give up. Don't give up because maybe that lender missed something, which is very likely. Or maybe you went to a bank where they have very strict guidelines, and they weren't able to approve you because of their strict guidelines. You can reach out to me, and I can get you with a lender that very well could say, You know what, we don't go by those same guidelines, we're able to get you approved right now, right here. And right now, we'll say, Monique, that approval letter, you guys will be out looking for properties. This has happened so many times, you guys. So I don't want you to get discouraged if you have previously reached out to somebody and they told you no. Listen, it's never a no with me. Me and my team is never going to tell you no, we may say Not right now. But here. We want you to do these things. But it'll never be a no. And it's very likely that it might be a right away. Yes. And the reason being is because different companies go by different guidelines. So just keep that in mind. So let's jump back into it. You want to use the downpayment assistant grant, you simply only need to have been renting your property for you know, three years, you're now a first time homebuyer, you only need a 640 credit score. If you do not have a 640 credit score, guess what? I can help you get to that 640 credit score. Okay. Yeah, so I'm sorry, I'm just looking at my one of my lenders is chiming in over here. I went live. She's chiming in, she's telling us his case by case. So don't give up. She's telling you don't give up. It's case by case. So don't give up. If a lender has told you no, you're not gonna be able to be approved. That's just that particular lender. Don't stop there. I don't want you to give up on your 2023 homeownership dreams. I'm here to assist 640 credit score two years on the job, it does not have to be the same job. It does not have to be the same line of work. It does not have to be the same company. Okay, I just need you to have that two year employment and 640 credit score, okay. The rest my season lenders will work out and get you going. Zero down, guys. Okay. So right now we're still in a buyer's market. What does that mean? Monique? That means that I'm able to negotiate the seller to pay some of your fees some of your costs for the first time you guys in years, I am getting the sellers. I'm negotiating the sellers paying my client's closing costs, that's almost half of what they have to come out of their pocket. So if the lender told you, okay, your downpayment is going to be 12,000 your closing costs are 9000. Right? But yet I'm getting the seller to pay your closing cost, right? And then I'm good I'm putting you in a downpayment assistant grant that's paying your downpayment, what do you have left to pay? You guys what do you have left to pay? And by the way, because I'm gonna put my money where my mouth is, I'm telling you this window shutting, it's about to in my in my mind, I'm starting to see more active activity on my listings which telling me that my sellers are about about to start getting the upper hand again. Right now they don't have it. So I'm cleaning up with my buyers. I'm cleaning up and I want you to clean up I want you to get home this year for 2023 If you're just tuning in I am Monique Buchanan. This is the welcome home with Monique show. You can reach me at 702-984-3700. If you didn't catch the number don't worry, listen to the whole show. I'll announce it again at the end. 702-984-3700 I'm on YouTube. Welcome home with Monique, you can Google me welcome home with Monique all my information is all over the web. So welcome home with Monique or Monique Buchanan and you'll find me Okay, welcome home with money.com is my website. But what I'm talking about right now is if you know anybody that's looking to purchase a home this year, and maybe they were turned down last year, or maybe they did go out there looking and this is what was happening last year, you're going out there looking and you just could not get any home there was multiple offers on properties. You could not you were approved, but you could not get anything because there was an influx of buyers in the market. Well right now that's not the case. Come on back. Come on back my number once again. 702984 3700 I am offering and $1,000 cash we are cash 1000 I sound like a car salesman. I don't want to sound like that. But nothing against my car salesman's okay, I love my car. But anyways, I'm offering $1,000 rebate for my buyers, my k u and v buyers. Okay, if you reach out to me and say, Hey, I heard you on KNB I want to buy I want to go ahead and get approved with you, Monique. I'm going to give you $1,000 cash cash. Why do I keep saying that? But $1,000 rebate, what what that means is I'm gonna I'm also going to contribute to your fees to your cost. Okay. Is that fair? Do you like that? I hope you do. Because I truly want to see you guys become home owners. 2023 That is my mission. Like I've said I've already helped over 100 people, families, and I'm here to help you as well. My heart is in this you guys so I'm gonna put my money where my mouth is $1,000 rebate for my KU NB buyers. Okay. And by the way, congratulations to one of my K UMB buyers. Miss Linda, we just went into escrow on a brand new home. And yes, you can use this grant for a brand new home. Okay, we just went into escrow on a brand new Richmond home. Yes, we did. All right. She's gonna get her keys in April, because it's a spec home, which means that it will be ready in just a couple months. If you're interested in anything like that. You can reach out to me I have spec homes available that are already pretty much being built now and you can buy and we actually got that home for under $400,000. You guys. So my number once again is 702984 3700. I do have relationships with many of the Builders here in the city. They've even come on the show. So let's jump back into it. You can use a downpayment assistant grant. Okay, let's just do this. Let's call Ms. pearly right. Ms. parolee, Ms. Pearlie comes to me, she says, Well, you know what, Monique, I've been working at my job, you know, for a year. And then I started working at this other job for a you know, another year. Can I get approved? Yes. Miss pearly you can you've been two years have you been awkward? No, I just went ahead and changed jobs. Okay, you're good. You've got the two years that we need. What is your credit score right now on this poorly? Well, my my credit score is about 640. Okay, well, guess what, that's all I need you to have for the downpayment assistance program. Well, you know, honey, I've already got some money saved up. I really don't need to use that downpayment assistance program. Well, that's even better. Ms. Pearlie. Where are you getting your money from? Oh, I'm gonna get my money from 401k. I'm gonna pull it out of there. How much do you think I'll need money? Well, how much are you buying Ms. Pearlie? I'm thinking I'm gonna buy a house about 400,000. Okay, so completely out of pocket, you're looking at about $17,000 Miss Pearlie. Do you have that in your 401k? Yes, I can. I do have the 17,000 and my, my 401k that I can use money. Perfect. The thing about that is now Miss pearly is going to get a better rate because she's using her own money. When you use a downpayment assistance program, you typically have a little bit higher of a rate, but let me just go over some numbers with you. Okay. So if you can use a downpayment assistance program, you say, Monique, I don't have any 401k. I don't have a family member that's willing to loan or not loan, I'm sorry, gift me the money. They can gift it to you. All right. So if you say no, I don't have that. Monique. I just want to use the downpayment assistance program that you're talking about. Okay, let's go over some numbers. All right. So let's say that you buy a property that's at $450,000. Okay, you can use the downpayment assistance program. Remember, I kind of went over this with the multi unit. Yes, you can buy a four Plex if you so choose, as long as you live in one of the units for one or not one year, three years. Okay, that's using the zero down program. You just have to live in one of the units for three years. But let's pretend that this is just a house $450,000 house right. So we go ahead, we go ahead and get the house we use a zero down program. I negotiate the seller to pay your closing cost Okay, so out of pocket, you can't believe it because you came out of pocket with less than $2,000. You can't believe it. Right? That sounds too good to be true. Well, let's talk about it. All you're gonna pay for is your appraisal. That's about $700. Your inspection if the home was about, I don't know, 2000 square feet, probably about $400 for the inspection, okay. That's pretty much it. I'm just patting it with the extra 1000. Just in case, right? But remember, I'm giving you $1,000 cash, or the cash rebate, I'm giving you $1,000 rebate. So actually, boom $1,000 Now because I gave you 1000. So now you came out of your pocket with just $1,000 you just pay for your, your inspection, your appraisal, okay? So there you go, guys. I got the seller to pay your costs and the downpayment, Assistant grant paid the rest of your cost. So you literally purchase your $450,000 house with $1,000. Maybe out of your pocket that's happening right now, today. And why is it happening right now today? Because we are now in a buyers market for the first time in years. That means that I'm able to negotiate the sellers to contribute towards your cost. Okay, guys, this window is it's shutting, okay, it's getting a lot smaller. And I can say that because I have multiple listings out there right now, where they were sitting, now people are starting to come out. And it's springtime. This happens anyway, in real estate, the buyers are starting to come out. We don't want to sit on our hands until everybody decides to jump into the pool. Because then what happens? The negotiation is over sellers have the upper hand because we still have low inventory. What does that mean? That means if there's a lot of buyers, and very few homes, just like with anything, there's not going to be a lot of negotiating, that's going to be able to be had right? Why would I negotiate? I have something you want. And there's 10 behind you that want the same thing, my house, so I don't need to negotiate. I don't need to pay your closing costs. I don't need to do anything, I don't need to come off the price a little bit. By the way, I've been offering almost every offer $10,000 off the list price. You're daggone. Right, I'm going for it, why wouldn't I I want to secure the best deal for my buyer. By the way, if you're just tuning in, this is Monique, you can my number is 702984 3700. Again, 702-984-3700. I am a local Las Vegas realtor here been helping families in the Las Vegas Valley for almost a decade now. And like I said, I've assisted over 100 families with downpayment assistance programs, and so much more as well as selling properties. So if you need my assistance, my number again is 702-984-3700. So there you go, you guys, your payment on that property of 450,000 is going to be sitting at around $3,000 a month. Okay, so keep that in mind. Rates have went up a little bit. FHA, we're sitting at about 5.825. And that's just an estimate. Remember, rates are just like stock market, they go up, they go down, they go up, they go down. So you know, as of today, okay, that it was at 5.8 to five. But um, so we're looking at $3,200 a month, but that's going to get you a house at around 450,000. Right. And what I'm personally doing is if if my lender tells me you're approved for 450,000, I'm looking at homes, I'm pulling homes at 4470. You're daggone. Right? I'm pulling homes at 470. Because I'm still gonna sit there and negotiate them down to that 450 For you, right. So that's what I'm saying, you guys, we're in a very unique situation for the first time in a long time, where I'm able to be bold like that, which I'm bold anyway, just asked my husband, what No, I love scoring great deals for my clients. So I'm not going to sit stick at that for 50 I'm going to bump it up a bit. And then we're going to go over there and we're going to negotiate that price down. And I'm still gonna try to get closing costs for you as well. So we'll have that conversation, you'll say, You know what, Monique, this is what I want, this is what I'm looking for. And we'll go out and get it. So let's talk about a townhome around 350,000. Now that payments gonna be sitting around, like around $2,000 a month, you guys, there's many of you out there that are, you know, in in apartments right now paying that much. So why not own? Why not build equity for your family? You know what I mean? So, what does that mean? Monique? What do you mean by equity, that means that if we buy this property today at 350,000, and then let's say next time next year, this time, it's worth 400,000. That means you just made $50,000 In one year, okay, that's your money, it's accessible to you. That's your money. That's what equity is. Okay. And another thing a lot of my listeners are renting. And they say well, you know, I just I don't want to be worried with having to fix sinks and things and I like that I can just jump on a website and have somebody come out here and fix whatever I need. Well, guess what, guys every time I sell a property I always get a home warranty with a property, what is a home warranty money, just think of it like your car, you got that extended warranty on your car, it covers all the major components of your car, right? Same thing with the house, you guys, it's only around 400 $500 a year, I typically will have the seller pay for that, you know right away for you that for the first year. And then after that, you can keep it up yourself like 20 $30 a month. But yeah, so that covers all the major components of your home. It covers your electrical, your plumbing, you know the air conditioning units, I just had both of my AC units replaced. Last summer, I did not have to come out of my pocket, but with $1,000. And that was only because those were high ticket items. Normally, anything that you have replaced or repaired will cost you like 70 bucks, you know what I mean? 5060 $70. But if I would not have had that home warranty in place, I would have had to pay $7,000 per unit. So yes, I'm giving you peace of mind by getting a home warranty on each one of the deals that we close. In other words, in each one of my buyers, they have home warranties put in place. If you buy brand new, many of the brand new home sells that. Like for instance Miss Linda, she's getting a 10 year structural, okay, and then she's getting a full year of any little thing that goes wrong. She can just like with the apartments, she can go online, let them know, hey, something's went wrong. And they'll come over and fix it. I call it bumper to bumper for a full year, okay. And then after that year is done, she can go ahead and buy a home warranty, it can cover your appliances, I'm telling you just gives you peace of mind. So you don't have to be worried about you know, sinks and things, garage doors, you know, worried about that kind of stuff, because you're going to have that home warranty in place. Okay. So keep those things in mind, I want you to know that becoming a homeowner does not mean you're gonna have all this burden on you know, it's going to start creating equity for you. And there are things that are in place that will, you know, take the light load the load off of you from what you're hearing about being a homeowner having to fix this and having to fix that. We have home warranties, I can get you a brochure or two that you could take a look at. But anyways, like I said, 640 credit score, you guys were talking about downpayment assistance program, there is one that is nationwide, you only need a 600 credit score. That one is actually a downpayment, just assistant, the first one was a grant, the one where you need 640 credit score two years on the job, right? And it does not have to be the same line of work.

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That one is a grant, you do not pay that one back. You just have to live in the property for three years. Okay, I believe it's three to five years, but I'm pretty sure it's three years. So you do not pay that money back. That is a grant. The next one I'm going to talk about is that's actually a an assistance. And but the good thing about that one is so you do pay that one back as a soft second. But there is no income limit for this particular grant, or her and I kept saying grant, I'm sorry, assistance. So this particular we'll call this one assistance. Okay. The first one was a grant, this one's assistance, the difference is the assistance, you only need a 600 credit score, and there is no no income limit. The verse grant that I was talking about, there is an income limit, I do believe it's 90,000. But my grant specialist will go over all of that with you. But I believe it's 90,000 for per household. Okay, so if you make more than 90,000, you say, oh, man, don't worry, I've got something for you. And this one is nationwide. This one, you only need a 600 credit score, and there's no income limit. Okay? So basically what they're doing is they're financing your downpayment, there just basically like I say, like kind of rolling it into your loan. So that way, you don't have to come up with it right, you know, all at once. And you can also purchase a much higher amount with that particular grant. I said it again, you guys assistance. I don't want to confuse you. So we have the assistance for 600 credit score. We have the grant at a 640 credit score. The grant is more popular. Okay, that one's more popular. Obviously. You don't have to pay it back. Right. And yes, like I said, I like to use that grant a lot because you can buy a multi unit. You could buy a duplex, you can buy a four Plex you can buy a brand new home with that grant, okay. You do not pay it back. You just have to live in the property for three years. Listen, it's a 640 credit score you guys. Two years on the job. That's it. Two years. That's it. And yes, you can qualify so please don't be scared. Don't be scared. If you want more information on the grant, you can reach out to me 70298437007029843700 Okay guys, and like I said, if you've been denied in the past, please don't hesitate to reach on back out to me again at that number 702-984-3700. Let me get you with some of my seasoned lenders that will tell you okay, they told you no, but we're telling Yes, it happens every day. I love it. It's great. I love to hear you guys get excited that we're about to go out and start looking at home. So come on you guys. If you've been on the back burner thinking about purchasing a home, please get off the back burner is definitely time for you to come on out. And go ahead and take advantage of me being able to negotiate a very good deal for you right now. You don't have to go up against 10 and 20 people like you were doing just last summer. Like I said, you were looking at properties that were 500,000 Last summer, guess what we're getting that same property today for 420. So listen, once again, my number is 702984 3700. And speaking of that, guys I want to talk about a couple are a open house this this morning that you can go check out. Okay, at 11 o'clock, we'll be having an open house from 11 to one, the address is 113 Sierra breeze 113 Sierra breeze, this property is a four bedroom with a full bedroom and bath downstairs. a two car garage, but it's tandem. So it's almost like a three car garage. And a very sizable mat. A Nope. Primary bath bedroom. And as well as the backyard. You know, a lot of room back there for maybe a pool or just whatever you want to do. There's a lot of room back there. So once again, open house from 11 to 1pm. Today 113 Sierra breeze. Also if you want a property that has a pool, and five bedrooms, we just had a price reduction. That one's going for under 520,000 Oh, by the way, 113 Sierra breeze just had a price reduction as well. That one is going for around 420,000 You guys. That's amazing. By the way, it's 27 over 2700 square feet. And like I said four bedroom with a full bedroom and bath downstairs. Check out that open house 113 Sierra breeze 11 to 1pm today, okay, the other property has a pool, five bedrooms, and it's under 520,000 That one is 799 Milstead that's mi L S T E ab 709 Milstead if you're looking for that sparkling pool this summer because believe me that the heat I feel like it's already here. It's coming fast right? So once again guys, I do this show because I love you. I hope you believe me because it's true. And listen, I appreciate you guys referring to your family and friends. And if you're thinking about selling I can assist you as well. But we want to hurry hurry up and you know get the buyers out there to buy because let me tell you, my sellers are about to start cleaning up again. So there's your warning. All right guys, love you guys have a blessed Saturday. Talk to until I hear from you. Monique Buchanan 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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