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, good morning, Las Vegas. It's Monique Buchanan, the host of the welcome home with Monique show here again, to spend a little time with you guys and hopefully motivate you guys motivate you guys to share the word that it is time for the buyers to go ahead and go ahead and strike while it's hot. So listen, you guys have heard me time and time again, just kind of giving you guys the ins and outs of what's going on with our market here in the Las Vegas Valley. You know, it's been up, it's been down. It's been all around and I get the question of, you know, hey Monique, do you think it's a good time to buy and my honest opinion is it's the best time to buy. Okay, when everybody else is nervous and backing, backing away, guess what? That gives you an opportunity to score and an amazing deal on your purchase. Okay, if you decide to buy and jump in, when everybody else jumps in, obviously, your power to negotiate. It dwindles. Right, because there's too many other people behind you. You know, throwing the kitchen sink at the cellar right now, the sellers are not catching any kitchen sinks. Okay. But I'll tell you what, on my listings, I in fact, congratulations, Mr. Smith, you know that property over McDonald's Ranch, we already went under contract, okay, that property has been sold. So that's my cue that property once again, did not last for more than a week. So it's starting to pick up just like every year around this time, you guys, we always start to pick up. And not to mention, the feds have lowered the rates. You guys I don't know if you already knew this. But the feds have already started to come back down, off the rates being so high. I mean, at one point, we got all the way up to over 7%. And I just spoke with one of my lenders and of course everything you guys don't hold this, you know, I'm not a lender. So don't hold my feet to the fire. I get the information in the morning. But guess what, it could change by the time I do the show. So anyways, my lender says right now with FHA, we are sitting at around a 5.5 if you have over a 700 credit score, okay, this is just an estimate. And if you have like a 640 credit score, we're down to 5.7. So that's why I'm starting to see so much more traffic. In my listings, I predict and of course, I'm not a genie in a bottle. But I do predict by summer, it's going to be a multiple offer situation again on the listings. Why do I think that? I believe that's going to, you know, come back around because we have still not, you know, not done anything with the problem of short inventory. We are still very short on our inventory. Sure, we gained a little bit of inventory, but not enough, you guys, we still have a very high demand for homes. All right. And if you're just tuning in, once again, this is Monique Buchanan, your local Las Vegas realtor, I am here to assist you if you are thinking of buying or selling home. I have been doing real estate for almost a decade now. I love it. It's my passion. But more so I love to just help people and assist I'm here to serve you okay not to sell you. I'm here to serve you. So with that being said, let's go ahead and jump into my topic today, which is I'm focusing on buyers, because it's definitely time for them to strike before everybody jumps back into the pool. All right, so please just get off your hands and consider now is the time if you have been thinking of purchasing, okay, so if you're just tuning in, a lot of times I will talk about downpayment assistant program grants that are out there for my listeners, and maybe if it's not for you, it's for one of your cousin's children, whoever you know that unfortunately, he's not a homeowner yet, because our rent out here is still very high. And you know, it's almost aware, hey, you know, a couple 100 more dollars and you can be investing into your future with buying a home, or maybe even the same amounts. I know people that are paying $2,800 for an apartment. You know, there's no need for that you can invest into your family's future or your future by purchasing a home and becoming a homeowner with that kind of money. You figure Hey, if you're going to rent, you have to put first last and deposit down In many cases, you're out of your pocket with 1000s of dollars, you know, five $5,000. Well guess what, guys right now I'm selling homes to people. And they're coming out of their pocket with nothing but the inspection and the appraisal. So under $1,000? Well, Monique, that sounds too good to be true. How could that be? I'll tell you how that is. We have a grant that's been around for years, for many years, I've personally blessed over 100 people, and getting homeownership many through these the same grant. So what it does is it's going to take care of your entire down payment, okay, your entire down payment. And right now, because we're still at that little sweet spot where I can get the seller, I can try to negotiate for the seller to pay for your closing cost. That is how I'm having many of my clients come out of their pocket with less than $1,000. So right now I'm able to negotiate and ask the sellers to go ahead and take care of your closing cost that would leave you with only the downpayment. Okay, let me just give you an idea or an example. So if we're purchasing a property, that is $400,000, okay, your down payment on that is going to be roughly around $14,000. All right. And your closing costs would be around $12,000. Well, right now, because the market is a buyer's market here in the Las Vegas Valley. And I should say in some areas. But yeah, the majority of the Las Vegas Valley right now is in a buyer's market. Okay. So that $12,000, I'm going to negotiate for the seller to take care of for you to contribute towards your closing cost. Now, mind you, I've been getting that done. Now. How long can I continue to get that done? I don't know. Like I said, the market starting to turn you guys. So if you've been thinking about buying, you know, it's time now because I'm able to negotiate that 12,000 Not out of your pocket, but out of the sellers pocket. What does that leave you with that $14,000? Down, Right? Well, guess what, if I have a grant program, that's going to take care of that 14,000? What does that leave you with the pay? You got it. That's how my clients are only paying for their inspection, which is around $400, depending on how big the home is, and their appraisal, which is around $600. So yes, under $1,000 out of their pocket, as long as you have an agent like myself, that is aware of what market we are in because the market does change all the time, just like the stock market. It's you know, it's up, it's down, it's all around, you have to know what market you're actually in, or else you will do your buyer or seller a disservice. Okay, so there we go. So that's how you know right now, if you're a buyer, you're able to possibly very possibly, depending on how long you wait,

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get into your home and become a home owner with Yes. You know, under $1,000 out of your pocket is very doable. You guys I know it sounds too good to be true. But yes, it's happening. Okay. And my veterans, you guys have heard me say back in November, I closed on one of my veterans, he actually got his earnest money deposit back. So zero out of his pocket, he got a refund from the title company of the what I call skin in the game money that we put down, it's called earnest money. So a lot of times when you're purchasing the property or all the time they ask for a little skin in the game, just to make sure that you are a serious buyer. That's called your earnest money deposit. Depending on the price of the home, it can be from $5,000 all the way up to 50,000. But he got that money back when we close on the home. Okay, guys. So once again, it is the time to purchase right now while you can get a really good deal. So let's go over this home homebuyers grant. So what I mean by that is this is a grant, you do not pay this money back. It is gifted to you, okay, there's no paying it back. Now let's talk about the requirements. You just have to have at least a 640 credit score, okay, and have been working for two years, it does not have to be the same line of work, just working consistently for two years. All right. If you had a break within that time, many times we can get past that. Sometimes if you've been off work for three months, but then you go back to work. I think you just have to be back to work six months. Don't quote me, I'll get you with my lender, partner, my grant specialist that will give you the exact details of that. But don't give up as you think, Oh man, I haven't been working for two years straight. Listen, we can talk to the lender. He is the one that will know if we're able to move forward. It's like a five minute conversation so don't get discouraged. If you're just tuning in. This is Monique Buchanan. I am your local Las Vegas Real tour. I am actually talking about zero down grant programs right now. So if you've been thinking of becoming a homeowner, if you have family or friends that are thinking about becoming a homeowner, I can assist them. My number is 70298437007029843700. You can also text me, downpayment grant and with your name name, your first and last name. And I can give you a call back or have somebody reached out to you in regards to this program. Okay, so let's jump back into it guys. Oh, by the way, check me out on Youtube. Welcome home with Monique that is my YouTube channel and check it out like it subscribe it show me a little bit of love. Let me know that you guys appreciate the shows. I really appreciate you guys listening and I'm thankful that you tune in. I'm thankful that you guys always refer me your family and friends. Okay. So if you have been renting for the last three years good news, you are considered a first time homebuyer per FHA guidelines. Yes, you are considered a first time homebuyer. So if you're listening to this and thinking, Oh, my goodness, I wish you know, I wish I was a first time homebuyer and I could go ahead and move on some of these grants. Well guess what? A lot of the grants don't even require you to be a first time homebuyer so you can sell your property that you live in, right I can, I can list your property and sell it and then you can utilize one of the grant programs if that's something that you need to do. So not all of these grants require you to be a first time homebuyer okay, but just so you do know, you are considered a first time homebuyer if you have not purchased a home within the last three years. It does not matter that you purchased six, seven years ago, you sold the property? No, you are still considered a first time homebuyer. Now, if you're thinking, Well, man, that sounds great. But you know, unfortunately, I had a foreclosure, well guess what, three years from your foreclosure and you're fine. You can also move on this, okay, if you had a bankruptcy, and it was chapter seven, two years from discharge, and you can take advantage of this, if it's chapter 13, one year of satisfactory payments and court permission, and you can take advantage of this and be you know, go ahead and purchase another home. So that's, you know, if you had a short sale, three years, okay, so, all this, you know, I just, I'm saying all of this, and there's so much more. But when you

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when you decide that you want to move forward with the grant program, I'll get you with my grant specialist, they'll go over your options, and let you know, you guys, my clients are always amazed that it literally takes like, you know, an application you typically know within the same day, right then in there, how much you're approved for, it's never know, it might be a knot right now. And here's the list of what I need you to do. But once you complete that list, we are out shopping you guys. Okay, it's doable, it's achievable, you can do it 2023. Guys, this is the year you're going to become a home owner, or this is the year that you're going to scale up, you're going to buy that, you know, investment property, this is the year and by the way, if you're thinking of buying investment property you can do so with as little as I have one lender that can go all the way down to 15% down. Okay, so whenever you're purchasing a property that is not your primary residence, as long as in, as long as there is, you know, if you get a vacation home, it's different. But if it's investment property where you're going to capitalize and, you know, have residual income coming in from investment properties, you're typically asked to put about 20% down, okay, but yeah, maybe you want to scale up or scale down, you want to list your property, go ahead and get that sold, so that you can move on to that next property, you know, that you can actually not even you don't even have to sell your property, you can rent that property out with one of my property management groups, they'll go ahead and take care of it, rent it out, you don't have to worry about you know, the tenants are any, you know, applications, they take care of all of that for you guys. And at a very low cost. It's only you know, I think they charge seven or 8% of the rent. So that's very minimal for you not to have to deal with the headaches of you know, having tenants. So if that interests you, you can always text me 702-984-3700 Okay, you can text me landlord and I will get you connected with a property management group for as little as 7% Okay, and they'll take care of it all for you. Don't forget when you guys text me, please text me your first last name, the address of the property if you're looking for property management, but anyways guys, yeah, this is the year homeownership 2023 is the year so please, if this is not for you go ahead and share this information with someone else that can be blessed by it. If you have not purchased in the last three years, you are considered a first time homebuyer, you only need a 640 credit score. You heard me a 640 credit score, and I can get this grant going for you. Okay. All right. This is a statewide program. So this is all through Nevada, so maybe you have family and friends and in Reno, I can assist Okay, and remember, like I've told you guys before my company and I can assist you in 18 countries. My company is in 18 countries, okay. So if you're moving out of state, I've got you covered. If you're moving out of the country more than likely, I've got you covered. In fact, when I just went over to London, I went over and visited one of our brokerages there, we're actually located in London as well. So just keep that in mind guys. I'm here to assist. And I have others in other states, here to assist as well. And they have knowledge of the grants that are out there as well. So once again, my number is 70298437007029843700. My website is welcome home with monique.com, you can check me out on YouTube, welcome home with Monique. And guys, I'm here to assist. Like I said, I'm not here to sell, I'm here to serve. So if you just have questions, you can always reach out as well. So let's talk about another grant. So that that was a grant, you do not pay that one back, you are required to live in the property for at least three years, okay, if for some reason you sell, you would just have to pay back that prorated amount of whatever they gave you further down. Okay, same thing goes, if you refi if you refinance before the three years, you'll have to do the same. Now let me share something with you guys with this. I've got quite a few buyers reaching out to me, and I'm very happy about that, because I love working with buyers as well as sellers. But I love giving people keys, especially for the first time that that just makes my whole world makes my heart happy. So anyways, one thing that I do like to talk to people about with using this grant, you can use this grant with brand new home bills. Okay, so there is no areas, you know, they're not like, Oh, you can only buy in this area. That's not what this grant does, you're able to buy in any area of Las Vegas, okay. Now, they, they do have a cap, they do have a income cap on this particular grant. Okay. I'm not quite sure what that is. But I'll get you with the grant specialist. I want to say it's around 90,000 per household. I could be a little bit off. Okay. But I will get you with a grant specialist so much let you know. But I do have another program that has no income cap. But let's talk about this one real quick. You can use this in the new home builds. Alrighty, you know what else you could do with this grant? You can basically become an investor with zero down. Well, what do you mean, Monique? You can buy a four Plex with his grant, you can buy a duplex with this grant. Let me give you an example. I can find you a four Plex right now for 450,000. Okay, right. So the grant will take care of that downpayment for you, as long as you reside in one of the units for three years. You heard me right. So you can literally have three other apartments, paying off your property, basically. And you're living in the property. Is that amazing? And you put zero down on that property? I mean, if that doesn't make you giddy, I don't know what does. I'm telling my own daughter. She's 24. I'm telling her right now, hey, this is the way to go. Utilize one of these grants that I have, right, you're gonna go ahead and live in one of the properties for three years, you put zero down. I'm just gonna throw this out there it and I'm pretty sure that you could charge more than $1,000. But we're just going to pretend that that four Plex we're charging $1,000 per unit. Okay. So that's gonna bring in $3,000, right? Well, I did the math. Okay, so right now, the rate for the FHA is 5.75. So that puts her at a $13,000, down, right, or I'm sorry, $15,000 down, but that's covered by the grant. And if I negotiate her closing costs to be paid by the seller, that's 13,000. That's covered by the seller. Right. So now she just moved in with Harley wet nothing out of her pocket. And she just got a four Plex, right, she's gonna move and live in one of the units, she's going to collect $3,000 A month rent, right. And her payment on that property is 3100. So she's literally going to pay $100 a month for her apartment that she's living in, while the other three tenants pay off her investment property. And after three years, she'll move out, she'll take some equity that she's made out of that property, and she'll buy herself a big bad house if she so chooses. So that's why I say this is like the only time you're able to buy a investment property with not 20% down. But if you use the grant zero down, and if you don't want to use a grant, maybe you've got savings, maybe you have a 401k you you've saved money, you're good. You have the 15,000 downgrade, that's even better. You know, you can go ahead and well, I don't know about even better, but you can go ahead and pay your own down and you're not putting 20% down, you're only putting 15,000 down. So that is phenomenal. All right. So if you're a veteran, zero down, zero down, and I'm getting the closing costs, I'm gonna negotiate the closing costs from the seller, even if he only pays half, you know, hey, you just got a four Plex For $7,000 out of your pocket at $450,000 purchase price. That's phenomenal. So I love this grant, you guys, like I said, You, it's forgiven. So after three years, it's forgiven, you don't pay it back, you only need a 640 credit score, there's no is not area driven. So there is no certain area that you can buy. And you can even buy a four Plex, with this grant and a brand new home built as well. So for more information, my number is 702-984-3700. Again, 702-984-3700. Now, if you have been thinking about selling your condo, is definitely the best time right now to sell condos. Yeah, there was a study done that right now. And they're actually selling more condos than they were even three years ago. So it's a great time to list a condo right now, if you're thinking about listing a condo that you've had for a while, or even just listing whatever, you know your property, it's spring, you know, the buyers are coming out, they've just lowered the rates, it's a great time to list your property as well. So there you go. Let's jump on into to the other the other program I was discussing are kind of touched on. So that program that I spoke on first, that one does have an income limit. Okay, I think it's around $90,000. All right. But I do have another program. Now this one does not have an income limit. Alright, so this is really, really unique. Okay, so it only requires a 600 credit score. All right. So that's really awesome. You do not have to be a first time homebuyer for this program as well. So this is a great program. And like I said, it's also not just in certain areas you can purchase anywhere. So it does give you a second on your mortgage, but you pay it simultaneous simultaneously with your mortgage. And of course, the lender makes sure that you're comfortable with the payment. Of course, it also comes at a price where they make sure it's at a price where you can afford. But yeah, so basically, it's almost like they roll that downpayment into your loan, or you finance it, I should say, and so it's a second on the mortgage, okay, but it has no income limit. So if there's some reason that you just don't have that downpayment, there is another option for you. And you can use that with as low as a 600 FICO score. All right. So that's really, really a good program as well helps a lot of folks as well. And you don't have to be a first time homebuyer. You guys. There's so many programs out there. There's even one that's just in the rural areas like Pahrump. You guys, I don't know if you're familiar, but Pahrump. You know, it's it's I like pull up a lot, because they have a lot of land. So every time you know I go out there, I see all these properties and you know, beat me being raised in Texas, I'm used to having, you know, a really good size yard, you know, my daddy has a riding lawnmower, I want a riding lawnmower. And maybe I don't he says that, you know, it's a lot of work. But anyways, so they do even have a grant out there that will cover per month, it gives you up to 5% of the loan amount for you know, your down payment. And that will also cover a bit of your closing cost. Okay, so that one gives you up to 5%. The very first one I spoke on, it actually does give you up to 4% as well, which gives you about point 5% towards your closing costs as well. So hey, we'll take it all right. So that's really good, too. But this this rule, don't downpayment assistance programs, it does not require a first time homebuyer requirements. So if you need to sell a property and turn around and purchase a property we can do so you just cannot currently own a property. So when we go to buy you a property, you cannot own any property at the time. So we have to make sure that if you do own a property, we would need to sell it, I would need to list it, get it on the market, get it sold, and then you could use this program. Now this program only requires a 640 minimum FICO scores well. And by the way, you guys with all these programs, you have got to be the primary it has to be your primary residence. In other words, you have to live in these properties. Okay, so we can't do this for investment properties. These are not grants for investment properties, unfortunately. Well, except for the way that I told you to do it, which is buy a four Plex and live in one of the units then yes, yes, that is the only investment property that you can use it for. Because basically, you're living in one of the units and you're having the other three tenants pay off your investment. All right, so yes, you can use the grant for that. So anyways, this is the rule grant you guys and like I said it gives you up to 5% 640 credit score required. It must be your primary residence. All right. And you know, there's other stipulations, but my grant specialists will go over those with you. And just so you know, they They are never going to tell you no, they might say Not right now. But they'll never say no, they'll give you a roadmap. I just need you to do these following things. And we'll look back at this in a couple of months and get you going. Alright, but real quick, you guys. It's time if you've been thinking about purchasing, you need confirmation, you've been praying about it. You just turned the radio on and you're hearing me say, it is time for you to become a homeowner 2023 especially right now, because I have a window of opportunity that is shutting on me. It's shutting on me right now. Okay, that I'm able to negotiate the seller to pay some of your cost on becoming or yeah, I'm becoming a homeowner. So this window is closing. Okay. So that's why I'm doing the show all about buyers today because I want you guys to know it is definitely time to buy. Like I said congratulations to my client. We already went into escrow on his home over in McDonald's ranch. That one was going for 420,000 It was a single story. We are in escrow but if you are thinking of buying, I have a condo right across the street from Angel park you guys and it's going for 295,000 it is a two bedroom, two bath 1154 square feet. Okay that is going for 295,000 you guys for that area to cargo or I'm sorry one car garage connected to the condo. That address is 113 emerald forest unit 104. Again 113 emerald forest unit 104 You can also text me emerald forest and I will send over the listing. Okay, we still have that single story home. It's going for $709,000 I do the 9997 or $9,999 That's like a lot to say. But anyways, it is over 3000 square feet you guys is a four bedroom but technically it could be a five bedroom because it has an office that can be converted into a bedroom easily. But for for you know, for tax sake. Just to be correct. It's a four bedroom, three full bath you guys full bath one of the bedrooms, has a full bath inside of it. So you have the master that has a full bath connected and you also have a secondary room that has a full bath connected as well. It's on a corner lot and it is a three car garage in McDonald's ranch gated community. All right. And then of course we've got the Northwest property. Now this one is 2700 square feet actually a little bit over. You've got a huge backyard, four bedroom, three bath. All right, and it has a nice loft as well. So this one is going for $429,000 That address is 113 Sierra breeze. All right 113 Sierra breeze, you can text Sierra breeze to and 702984 3700 and get that listing and the McDonald's ranch property going for 709,000 single storey three car garage, four bedroom possibly five but it's four bedroom with an office. That one you the address is 2511 Ashley rose again 2511 Ashley rose. And once again that one's going for $709,999 corner lot gated community and McDonald's ranch. Okay guys, well I hope that this blessed you I hope that it did. And if not, I hope that as you share it with someone that it could bless. And I want you guys to have a beautiful weekend. My number again is 702984 3700 Welcome home with monique.com and you can check me out on Youtube. Welcome home with Monique show. Have a blessed weekend guys. 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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