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. I'm so thankful that you tuned in this morning. I hope you guys are enjoying this beautiful weather. I did enjoy the rain, but I'm happy to see the sun once again. Listen, you guys, I'm going to dive on into the show. I want to just refresh your guys's minds when it comes to the grant programs. And I know I keep talking about the grants a lot right now. And that's just simply because this once again, you guys, for the first time in a long time is a buyer's market here in Las Vegas. So it has been literally maybe seven or eight years since we've seen a buyer's market here in the Las Vegas Valley. So yes, I am imploring the people that you have been wanting to purchase and maybe they were unable to purchase because they kept getting, you know, beat out last summer. You know, there was a lot of competition, especially in a certain price point. So right now I'm saying please come back, because right now is a great time for a buyer. All right. So that's why I don't want anybody to miss this opportunity. And yes, I keep talking about downpayment grants, downpayment assistance, any way I can help you to get into a home, I'm going to talk about it. Okay. So I have a special guest coming on today he's going to be speaking about the pro rump area. Because yes, it's very hard right now, to find any property under $400,000 here in Las Vegas. And if you do find it, right now you're even starting to I'm starting to see competition, multiple offers on those properties. Even right now, even with the rates, you guys even with the rates. And on that note, I want to give a shout out to my client. We close on his home yesterday, he was so happy and very happy for him. We did the to one buy down I actually negotiated the sellers to pay for his to one buyer down which you guys have heard me talk about in the past. I also had his closing cost. I got that negotiated and paid for for him as well. So congratulations to my new buyer. He's excited gave him keys yesterday to his brand new home. All right, so you guys, listen. Let me just give you an idea of that to one buyer down. Okay, the two one buyer down. What happens is we locked his rate at a 6.25 About a month ago. All right, so his payment should have been around $3,000. And what happens is I had the seller pay for his rate to go down for the first year and the second year, year three, it goes back to his normal 6.25%, which means he goes back to his $3,000 payment. So for this year, he will only pay $2,500 instead of the 3000. He's gonna say $500 a month, a year to the next year, he's going to pay $2,800 instead of the $3,000. So he will start paying his regular payment of $3,000. Not until year three we're talking three years out before he'll see his regular payment of that $3,000 Because I had the seller pay for his rate to go all the way down to 4.25. You heard me right, my client that I closed on yesterday, walked away with a 4.25 rates for this year. Next year, it'd be 5.25. The next year after that will be 6.25. Right now the standard rates are around 7%. So he made out like a bandit. He saved a ton of money. And it was all because I negotiate that from the seller for him as well as his closing costs. Like I've told you guys before this window is shutting, it's getting smaller and smaller. I'm starting to see multiple offers again, like I told you guys, as soon as the Feds lower these rates, everybody's going to jump back in the pool, it's going to be a feeding frenzy all over again. Okay, so that's why I'm on the radio show talking so much to the buyers right now, because they have an opportunity to let me negotiate a amazing deal for them. I can get money off the purchase price right now. I've also been getting closing costs, in other words, the seller to pay some of your cost and in this case, the seller bought his rate down. So anyways, let's go ahead and jump into it. Let me just refresh your memory about the grants that are that I have available. Okay. We also we have the nationwide grant. That one will give you up to 4% towards your down payment you're down payment is typically only 3.5%. So it gives you point 5% towards your closing costs as well. And what does that mean? Monique, that means listen, I'm going to try to get the seller to pay your closing costs anyway. So your down payment will be taken care of, and your closing costs will be taken care of by the seller, if I'm able to negotiate it. If we do this quickly, before this window closes, then I'll get the seller to pay your closing cost. Okay? What does that leave you to pay your appraisal? That's like, $700. Your inspection that's like $300. You guys, I have clients right now, walking away with brand new homes for less than $2,000 out of their pocket. So why would you go ahead and rent and pay first and last, even if it's just a $2,200 rental, you're gonna have to pay at least $4,400 to move into that property. And that's just renting, making $0.00 Next year, no equity at all, building no wealth for your family, you're gonna give these people $4,400 For what? Okay, and right now they're requiring many of them a 680 credit score. Well, right now, you know, I can get you into a home, you know, as little as a 600 credit score with no income limit, I have a grant that has no income limit. 600 credit score, okay, as low as a 600 credit score. You guys have heard me talk about these grants. I've helped over 100 families, buy homes with these grants, even the gentleman yesterday that closed, he didn't think he was gonna be able to buy a home student loan debt. You know what I mean? Student loan debt, over $100,000 worth of student loan debt, it's okay. My lender is able to get you into a program and guide you on how to get into this program and get you approved. So there's people who have been approved with the, you know, student loan debt, but it was such a small amount that they gave up, don't give up. Do not give up. I've got the resources for you. This is Monique Buchanan with the welcome home with Monique show. I'm here to help. If you are interested in anything that I have mentioned, please don't hesitate my numbers 7029843700702984 3700. My website is welcome home with monique.com. And you can follow me and subscribe at on my YouTube channel. Welcome home with Monique all my previous shows. The majority of them are there. So if you miss the show about the grants, don't worry about it. You can jump on YouTube and listen, I would appreciate you subscribing and liking of course. Right and I appreciate you in advance. Okay, guys, let me go ahead and introduce you to my colleague, my fellow agent with my brokerage here with exp Mr. Ross out there and per Rob, how are you Ross?

Unknown Speaker 7:35
Excellent, beautiful day in Pahrump the mountains have snow all over them. And it looks like somebody just put powdered sugar all over him. It looks absolutely gorgeous. Golf Course is gorgeous. And that kind of is a beautiful day. Yes.

Unknown Speaker 7:50
You know what, Ross, I pop up there from time to time. I'm just gonna go ahead and admit this, I like to play bingo. But I like to go up there and play being going up because I love the drive up. They're going through the red rock mountains, you know, and all my listeners know that at heart. I'm a country gal. I was raised south of Waco, Texas in a small town. So I like to pop out of the city from time to time and you know, get that small town feel. And I think that that's you know, we're talking about corrupt today. That's why I have you on you know, you're You're amazing. You're out there. You take all my clients that come out that way and you take good care of them. So I wanted you to come on today and and just talk about how it is living out there because you actually live in Europe as well. Now I personally think that the small town feel and being able to pop in and out of Vegas would be one of the you know, the biggest or most appealing things about Pahrump. But what are some things that you love about living out there, Ross? Well,

Unknown Speaker 8:44
I've been out in front for almost seven years now I moved from Henderson lived up in anthem Highlands for a little bit and then moved down here and I don't look back. For Trump the weather's a little bit better. It cools down at night where Vegas it doesn't sometimes and you know we get a little bit more snow or a little bit higher elevation than Vegas is. And I love the fact that we're at now we only have three stoplights in town, which and we don't have the traffic issues. Gasoline prices are a little bit cheaper here because we don't have the same sales tax in Clark County house because we're a separate county we're a knight County. We don't have the smarter cars yet. So those are good things and we have basically everything you want out here. We have restaurants, we have three wineries that people don't know about. We have a home depot at Walmart. There's a lot of plans for the Our Town for expansion that are coming in. And

Unknown Speaker 9:50
casinos even

Unknown Speaker 9:53
and there's a lot of things coming into profit or going out there we have several golf courses. I live in a community called Mountain falls, which is a masterplan community. And we're a golf community and we have public or we have private pools for everybody, great HOA. And if this community was in Summerlin, it probably be double the price, and our taxes would be up accordingly. Absolutely.

Unknown Speaker 10:21
One thing I love about Pahrump, too. You mentioned a lot of great things. I also love that you actually get some land when you purchase out there, you know, you know, once again, I like to have some some land with my house, you know, I don't want to be able to peek over my you know, and see my neighbor's yard. I want to have to walk a bit till I see it or, you know, I just want a little bit of land. I have a lot of clients, Russ that will ask me, Monique, I will I want a really big, you know, lot. And I'm like, Ooh, you're in the wrong city. I mean, obviously, there are big lots out there. But they come at a very high price. But with Pahrump, you know, I noticed that a lot of your properties out there and correct me if I'm wrong. They come with almost an acre, it seems. Absolutely.

Unknown Speaker 11:06
It depends on where you are in the valley. Right now, the south end of Pahrump is probably the one that's getting most developed, the North End is probably the least developed. And we have properties ranging from regular subdivision lots to half acre to five acres. When you get out of a subdivision, you have to be really cognizant of the because you're going to be on a septic or well we don't have sewer systems, except for in the subdivisions like mountain falls, Beazer Burson ranch or Artesia and those kinds of places they have a city water and sewer, and that but if you're getting in a little bit, so the outskirts there is you're going to be on a septic and well. So those are different mine issues that you have to be able to do on your due diligence and that kind of thing. For example, I live in mountain falls, my house is on a golf course, I have a 10,000 square foot lot in a subdivision, and I live at the end of a cul de sac. And so, you know, again, my neighbors are a little bit more space. I have a lot of clients that have come in from Vegas, mountains edge, that type area that have dogs, and you know, no fault of that, but they walk out of their slider in the rear of their house and they're bumping into the wall. And it's so they come out here with their dogs and kids and they absolutely love it.

Unknown Speaker 12:36
Absolutely. Now let me ask you this, what would somebody pay for something like that out there right now that 10,000 square foot lot? You know house on the golf course? What would that look like for them to move into your community today?

Unknown Speaker 12:49
It probably be in the mid low to mid four hundreds. Wow, depending on the square footage. For example, I have the house that I currently live in. It's about 2500 square feet three car garage on the golf course 10,000 square foot lot and it's probably worth about 470 and that you know you can get other smaller homes that are on the golf course that are lesser price and that kind of thing. But we're

Unknown Speaker 13:25
around what price is a golf community. Yeah, so that's living on a golf community. Okay, we're not even talking about just a regular subdivision. We're talking about living on a golf community. Now real quick, what what is about the like the lowest price you think that you can move into your neighborhood right

Unknown Speaker 13:42
now we have a, there's a couple of two bedroom listings that are in mountain falls right now that you can get into for around 299. They're about 1500 1400 square feet. My team has a listing for a three bedroom, two bath 1600 square foot home, excellent house, lot of upgrades and that one's you know, 338 and that's a steal.

Unknown Speaker 14:07
You could see what you get for 330 out here, if you can even find a house is going to be you know, extremely old, it's gonna have to you know, it's going to need a lot of work, you know, and it's just yeah, it's definitely not on a golf course. That's all. But let me ask you this, is this a 55 and up community by the way, I'm sorry, what is your community at 55 and up community

Unknown Speaker 14:29
know, we have a section in mountain falls, it's 55 or over, it's gated. It's and that is 55 or over they have their own facilities. The rest of mountain falls ism is what I like about it's a mixture of everybody, we got young families, we got you know, seasoned professionals out here and and that kind of thing. So it's a good mixture. It's not just one or the other and it's it's really a Meet community, everybody gets along. There's a lot of like block parties, and that you know, your neighbors. And it's really they watch out for each other. And that's one thing I really liked about out here.

Unknown Speaker 15:11
Yes, I love that as well. Now, let me ask you this, I am trying to get into golf. Okay, so if any of my listeners out there want to teach me how to golf, please 702 94 3700 No, but seriously,

Unknown Speaker 15:26
my game, you know, and that kind of thing. So if you could share those, that'd be great.

Unknown Speaker 15:35
Listen, if I want to golf, do I get you know any kind of a discount to golf in that community if I were to move in that particular community?

Unknown Speaker 15:41
Absolutely. If you're a mountain falls resident, and you're going to golf on mountain falls, golf course, you do get a discount being a resident, it is open to the public. And it's actually managed by some of the same people that do some of the PGA golf courses throughout the United States. So it's got a great management team behind it. We have our own restaurant here that is open to the public as well. But it's nice having a restaurant in your own community where you don't have to go out and drive into town to do that. We have a fitness facility that's rivals that of any other 24 Hour Fitness or anything like that. We have community pools jacuzzi, it's kind of nice, because you can order sit at the pool in the summer order from the restaurant and have a snack out by the pool. It's really like being on vacation. Well,

Unknown Speaker 16:39
Russ, you already sold me on that community. I mean, I'm ready to pick up now and go over there. So listen, we got to talk in so much about the beautiful powerup area, but I never had you introduce yourselves to my wonderful K u and v. listeners. Can you just maybe tell them a little bit about who you are? Who are you Breslin, actually

Unknown Speaker 16:57
a retired police officer and after and then and been with for as a police officer as a paramedic in South LA. Been a licensed Realtor for 23 years licensed in Nevada and California. And absolutely love it. It's I love being a police officer. But I love being a realtor, too. It's nice to be able to help clients and see the light bulb go off when you find the house that they want or give them the deal that they want. And that there's there it's very fulfilling. It is I have a small team out here in Pahrump and I absolutely love it. Yes,

Unknown Speaker 17:38
you guys have helped many clients. And so can you give the clients just an idea? Let's say that, you know, because, you know, the the inventory is so limited here in Las Vegas, but you guys have an abundance, right? Can you give us some idea of what that would look like for maybe one of my clients that might recall and maybe it's their first time buying a home? And they're looking to purchase that maybe just a I don't know, like a $250,000 approval or what they have like a lower approval? What what what does that look like for them and

Unknown Speaker 18:07
well, they, if it's for about 250,000 You can get a manufactured home on some land, it's probably going to be a fixer upper. And, and that in order to get financing for that manufactured home it should be at least 1980 or above manufactured date. And and you can get there they go pretty quickly. Even in this market, and that is safer 350 You could find an abundance of properties, your housing dollar definitely is going to go farther in Pahrump than it is Las Vegas. And it's not the drive is not that bad. You can get from where mountain Falls is where I live in South prop to Western Florida patchy and 160 in about 32 minutes. And it's not like traffic and

Unknown Speaker 19:09
Vegas. No, you know, when I lived in Austin, I had to you know, that's how long it took me to get to work every day, you know. So that's really nothing and you're absolutely right now back in the day, Pahrump was a little bit further, but we have to realize that Vegas has moved all the way all the way west, you know. So you come through that little mountain and you're already in mountains edge. Yeah, so that's good to know. So 350 Right now, like I said, you guys, if you jump on, even Zillow, you'll see what 350 Gets you it's not much here in Vegas. So I mean you can be on the golf course out there with Russ, you know for 350 with a three car garage and 10,000 square foot lot. I mean I'm ready to like tell my husband, we're renting this house out we're moving to Perth.

Unknown Speaker 19:49
Sure, you know and then like if you want to go a little bit higher than that and getting into fours. Not only can you get something really on the golf course but you can get into house on about I have the third acre and one of our subdivisions out here that I have had a lot of listings in all custom built homes. Every one's probably different and that it's all on city sewer and, and water and just absolutely gorgeous homes. And what's neat about that community is they all look different. They aren't cookie cutter, and that there's room to have items in the backyard. You know, barbecue, some people have pools out there with its patios and it's just a nice place to see the mountains all around you.

Unknown Speaker 20:35
You guys have RV parking and you know, pull your boat over there. So do you guys have lakes anywhere near you, because my husband loves the fish, I'm really thinking I'm gonna try to talk them into this.

Unknown Speaker 20:47
We do not have a lake per se the golf course has a lake it's more of a pond. But it's kind of neat when you can sit out the restaurant enjoy an adult beverage and you know some food and sit out there and watch the lake and the ducks and the geese out there. And then you have a really magnificent view of mountains, the backside of Mount Charleston, which right now is covered in snow. Right.

Unknown Speaker 21:13
And you guys have you guys are near springs mountains, National Recreation Area, right as well. Absolutely.

Unknown Speaker 21:19
There's a lot of if you're into like off roading, or have a side by side or four by four wheel drive, we there's several access points in Pahrump to get up into the mountains and people kind of see the barren hills. And those are foothills. But once you get past there, there's a lot of when you get up into the tree line. And there's a place up there. Right on the night county Clark County line that there's actually a trout stream up there in that but people don't know about what the rain. The roads are going to be pretty kind of rough at this time of year. But it's absolutely gorgeous up there. My home inspector actually takes his family up there several times a year. And he's actually seen elk up there. Wow,

Unknown Speaker 22:09
that's beautiful. Now what if I come to you with a $700,000? Approval? What would that give me a parent?

Unknown Speaker 22:17
You're probably looking at a house of probably around 3000 square feet on five plus acres.

Unknown Speaker 22:24
That's amazing. Five Acres and three over 3000 square foot home. That's amazing. For 700,000.

Unknown Speaker 22:33
You bet.

Unknown Speaker 22:34
Yeah. So that's why that you know, that's why I have you know, come on. Once again, if you're just tuning in, this is the Monique Buchanan welcome home with Monique show. And we have my colleague up there in Pahrump, Russ on he's going over the Toronto area, okay, because that is like I always tell people, that's gonna be the new suburb of Las Vegas, because we're running out of places to build. We're just a valley, you know what I mean? You fly over and you see a lot of land, but a lot of that's owned by BLM. So we're literally running out of places. And I truly believe that, you know, Pahrump is our new, I think is going to be our new suburb, you know, that's why they're widening the roads. It's only a 30 minute drive, basically. So I think perf is a great option, especially for people out there that have been approved for, you know, 350 or 300,000. You know what I mean? And that's a lot of people right now, like, you know, Russ, the same people that were approved last year, for 500,000. Because the rates have went up, they're now down to three 300,000 Because of that rate change, right? Absolutely.

Unknown Speaker 23:34
And you know, the the thing is, and Monique hit the nail on the head with it. Trump is going to be a suburb. Our population currently is probably about 40,000. And which gets me into my next thought is right now this we're right, teetering on the board of being able to get USDA loans out here. And if you aren't familiar with those type of loans, it's zero down. We have a couple of different downpayment assistance programs that are available only tonight County. So I'd love to discuss those or, you know, money can help you with that, too. But they're available out here. Yeah, so

Unknown Speaker 24:18
the same grants you guys hear me talk about all the time? Yes, you can use those in Europe as well, just like Ross said, and so we have those resources available for you, not everybody, not all lenders know about them, or even our will, will accommodate. So we do know the lenders that will accommodate you with those grants, and we can assist you so you know, in many cases, even just like I've closed two days ago, my client literally came out of their pocket with $1,000. For us. I was able to negotiate the seller to pay the closing costs, and we used a zero down grant. So that earnest money that he put up, he got that back to him, he came back to him. So tell us about the market out there are you know, are the sellers giving Any any closing costs? What are you seeing out there right now?

Unknown Speaker 25:03
Absolutely. And, you know, one of the things that I can tell you is, don't let the news scare you, this is the best time to buy, because it's a buyers market. And this is the time you're gonna get the sellers to be able to negotiate a year ago, the seller's wouldn't have negotiated a penny on it, you'd probably be paying 50 to $100,000 more for a house, this is the time to get your foot in the door. And I have a saying that I give to my clients all the time, is you marry the house and you date most of the lenders are going to be giving you a discount to refinance and down the line. So again, you can if it's a higher interest rate, you're gonna get a better tax deduction. So it's the house is gonna pay for itself.

Unknown Speaker 25:51
That's a great point. That is a great point that you know, and a lot of people don't realize that, you know, your home when you purchase is yet again making money for you because it is a tax deduction. So you're absolutely right, you you pay, you get a tax deduction on the interest that you pay for the home. So you're right, that's a great point to be made. And, you know, property tax as well. Yeah. And then you guys have lower property taxes out there.

Unknown Speaker 26:16
Actually, we're a little bit lower than Clark County. And that's because, you know, I sell homes on both sides. And but, you know, you can our property taxes are a little bit lower than here, because we don't go on the percentage of the sales price. So

Unknown Speaker 26:33
you know, and then I'm glad that you brought that up, then and I love that. So, you know, Mary, don't what is it Mary the house date the rate, I love that because listen, go ahead and let us get you a sweetheart deal now that we will not be able to get you once these Feds lower the rates, which the experts are saying they're going to by the first of next year, everybody's going to jump back into the pool because guess what has not changed the fact that we have low inventory, that has not changed, okay, so everybody will jump into the pool, it will drive those prices right back up. Because whenever the rate is low, the prices go up. That's just how it works, guys. And here's another thing I want to point out. Everybody said it was a horrible time, it was a scary time to buy during the pandemic. Everybody remember, it was scary. You don't wanna buy a house. Now the world's falling apart. Guess what everybody that purchased in 2020 is sitting on at least $100,000 in equity. Right now. They didn't listen, they went ahead and bought, am I right?

Unknown Speaker 27:30
Absolutely. And, you know, like, Monique, again, hit the home run, if the rates change, and everybody out there is thinking we're gonna have 3% interest rates from everybody. I've talked to everything that I've read, where if we get to 4%, if and I'm saying that, you know, with quotation marks. If that happens, then that's you know, that's the time you refinance. But if that happens, like Monique said, you're going to have every buyer coming out, it's going to be a seller's market, they're not going to negotiate with anything, you're going to have to pay full bore on closing costs down payment. And you're probably going to overpay for the house if you want to get back in the market.

Unknown Speaker 28:15
The house remember, honestly, I remember Ross, you know, we had clients that, you know, I put in 20 offers with $20,000 over the list price last summer, before they laugh, and they laughed and they did not give my client went a whole two, three months, never was able to get anything and this man had 20,000 over the list price. These are the honest to God truth you guys. And this is what it will come to again. If and when those rates come down again. So everybody's sitting on their hands, letting this opportunity pass them by, you know, Hey, you can't say we didn't tell you right Ross?

Unknown Speaker 28:49
Absolutely. You know, you know, sometimes to make a decision is is critical. You know, the you don't you don't purchase. You don't wait to buy real estate. You buy

Unknown Speaker 29:05
real estate and wait. That's absolutely right. Ross, you have just been an abundance of knowledge. I want to thank you so much for coming out. And I look forward to my cable TV callers and sending them to you when they do call to buy that beautiful golf course home and for up on my ride out there with them.

Unknown Speaker 29:25
I wish you and your listeners a really blessed day and weekend and hope that we can work together again.

Unknown Speaker 29:32
Yes, sir. I appreciate you and God bless all of you and have an amazing weekend. Have a great one Russ, we'll talk soon. Thank you. Bye guys. Have a great weekend. 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. are 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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