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Monique Buchanan, your real estate specialist, talks all things real estate. On this show she covers the processes of buying and selling a home. Welcome Home with Monique informs you on best practices to navigate the housing market so that you can start building your wealth through home equity.
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You're listening to locally produced programming created in KU NV studios on public radio K u and v 91.5.
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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 radio
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Good morning. This is Monique cannon, 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, hello, hello, Las Vegas. Today is a very special day for me. It is my brother's birthday April 1. So and also I'm an April baby. So I just gotta give myself a little shout out. I'm gonna celebrate my birthday this whole entire month. Although it's not until the 28th No, I'm teasing. But anyways, listen, last week. I don't know if you guys caught the show. If you did not. Remember, you can always jump on my YouTube channel. Welcome home with Monique, check out the previous shows. Also, I'm on Spotify, Apple as a podcast. All them are uploaded and syndicated on all the podcast platforms as well. Welcome home with Monique is the name of the show. But anyways, last week, I had my colleague out there in Pahrump Mr. Russ, come on. I don't know if you guys caught it, but he was giving us some really good information about the poor rump area. Monique, why are we talking about poor rump, it's so far? Well, no, actually, it's not not that far. Not anymore. And especially if you are from somewhere like you know, LA or Seattle, where you know, it's very common to drive you know, 30 minutes into work. Well guess what you guys from Pahrump where we're Russ lives, okay, from his doorstep, to Fort Apache and blue diamond is a 30 minute drive. Yes, mountains edge has pushed all the way out there. Now, you know, back in the day when I was a teenager sure it was a really long haul. Or if you live in the northwest. Yeah, it probably still is about an hour's drive. But if you work over in the southwest area, or Henderson, you know, it's not really that far away anymore. So that's why I want to bring him on. Let him talk about the Pahrump area because I truly feel that it's going to be the next suburb for Las Vegas. We are literally running out of like land to build. We're just a valley there's a lot of land that you when you fly over, you see that but a lot of that land is slowly released by the BLM organization. It's It's It's owned by BLM. So it's not just free and clear land that we can just build on. So a lot of my clients, investors included have been reaching out to me about the per ramp area. So yes, check out that show you guys. If you missed it, it's on YouTube. Welcome home with Monique and it's the per rump show. Should I move to Pahrump? So a couple things that I like about Pahrump is won't like you guys know, born in Seattle, but raised in Texas, I still might wear my cowboy boots. And um, you know, I'm going to the stage coach, I'm into country music as well. Not only jazz, I do like country too. So yeah, I'm going to the stagecoach festival actually, for my birthday this year. It's actually on my birthday, the 28th. But anyways, so I like that small town feel. I like the idea personally, of getting out of the hustle and bustle of Vegas, and being able to pop in and out, you know, as I so choose, or maybe buying my kids some three wheelers and letting them you know, live like I did when I lived south of Waco with a three wheeler, a dirt bike, you know what I mean? So I love that small town feel. And that's something that Pahrump does offer. And it's only you know, a hop, skip and a jump away from Vegas not to mention out in Pahrump like Russ was saying you can literally get a beautiful home over 2000 square feet 10,000 square foot lot, you know, I'm in a golf course, gated community, okay, for like 350,000 I am dealing with my buyers right now that are at that price point. Let me just tell you, we're not looking at anything in a golf course. Just being honest, that's like yeah, that's about the furthest thing away is what we're looking at. Here in the valley, you're more likely likely to find something like a condo, maybe a townhome. If we do find a home it's you know, it's definitely not going to be the golf course. It may need a little love and you know, some attention so that you know, that's just a wonderful option if you're looking for you know, that space between your neighbors, if you're looking for a huge yard per romp is definitely a great option because a lot of the homes out there, they come with a lot of land. So if that's something that you're just used to and you don't mind that commute, then yes, per romp is a great, great, great opportunity. Another thing, there is a downpayment assistance program for the per up area, and I really liked that program I have, I didn't really get into it last week with Russ, because I was just letting him expand on, you know, the benefits like you know, how it's cooler, you know, the temperature is actually cooler and living in Pahrump because you know, you're basically at a higher elevation, there's a lot of, you know, if you're like really in a nature, there's a lot of nap, you know, nature nature things, I don't know how you want to say that to do you know, if you'd like to go hiking and things like that. But anyways, there is a downpayment assistance program for that area as well. You just need a 620 credit score, okay, they're going to take care of your down. But here's the most interesting part of this particular downpayment assistance program for the poor rump area, also Logandale. Also Indian Springs, okay. They have a 4% rate, at least. And remember, this is just an estimate rates change all the time. But when I just checked a couple days ago, it was a 4% rate right now the current rates and of course at all, you know, depends on your credit score and things like that. But you know, the average rate right now is sitting at around 6%. So that is saving you quite a bit of money on your monthly payment, you know, having that 4% rate. So there's another incentive to maybe look into the per rump area and I'm here to assist you. Okay, I've got Russ up there and his team, they can take care of you let you drive on out there. See that it's not that bad of a drive. It's actually very beautiful, because you are surrounded, it's also a valley, you're surrounded by the beautiful mountains. Like I said, it's even cooler up there. It's not as hot. Ross was saying in the summer even gets cool at nighttime, which it does not do here in the Valley. So anyways, but yeah, I have you covered if you're thinking about going up to Europe, checking out some properties up there. I like I told you guys, I have you covered in all 50 states. In fact, I have access to real tours that are on my team that are in 18 countries, you guys. So if you know someone that is looking to move in a different country, I can assist. If they're looking to move in any of the 50 states, I can definitely assist them with that move and get them into the capable hands. Okay. So once again, if you're just tuning in, this is Monique Buchanan, your local Las Vegas Real tour, and you are listening to the welcome home with Monique show, you can check the show out on YouTube. And also on all the podcast platforms, my phone number and I'm going to slow down.
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Because you guys know I talk really fast. And just remember I always say the number if you don't catch it, it's going to be at the end of every one of my shows. But my phone number is 702-984-3700. That's 9843700 Welcome home with monique.com is my website. You guys can jump on there look at properties. You can get a lot of information on my website about the neighborhood you're currently in. You can even find out how much your home is worth on that website. Okay, so real quick per Trump $350,000 can get you a beautiful single story home. Okay. 10,000 square foot lot. three car garage, though works on the golf course. All right here in the valley, you're more likely to find a condo or a townhome just depending on what area you're looking in. Like right now for instance 350 will maybe get you a nice little three bedroom condo over in the McDonald's Ranch area. Henderson, okay. That same condo in Summerlin will go for about 450 Okay, and we're just talking condos. Alright. So and I was just going over a grant program that is available in Indian Springs, Pahrump and Logandale. Okay, so the outskirts of Las Vegas, the outskirts, we're pushing out, but those are the outskirts of Las Vegas and you can snatch up some really great deals out bad away right now as well. Okay, so real quick, let's talk about the current market, you guys. I've got quite a few buyers as well as sellers right now. And let me tell you, just a couple of weeks ago, I was telling you guys like hey, you know it's time to buy you can get a great deal, which you still can, but unfortunately, that has changed for anyone that's looking under 400 and like 30,000 So my buyers that are looking at homes under 430. Guess what we're finding guys guess what's happening already, even with the current rate. You know why? Because people have gotten smart. They've been listening maybe to my show where I say by now get the great deal and As refi, the experts are saying that the rates are going to come down around the first of next year, maybe even sooner with all that, you know, drama that's going on with the banks. Okay. They're seeing now, hey, we can't keep precedent like this. Now it's starting to hurt our banks. Right? Exactly. It's hurting us and the banks. So they're saying that they're going to drop the rates? And what did I say, you guys, when the rates drop, the prices go up? Why? Because now the seller has no incentive to lower his price. He has no incentive to give any contributions towards your fees, because he has multiple people that are going to want to buy his home because they're getting that attractive rate. So I'm always saying take advantage of the market, please take advantage of the market while you still can, because I'm seeing the writing on the walls that hey, it's already starting to change for that, that price point. Okay, so my buyers that are over 500,000, we are still getting amazing deals, I am having the sellers pay their closing costs, as well as having the sellers buy down their rate. Okay, so I've got one in escrow right now. He's the seller, I negotiate the seller to pay the closing cost, as well as buy my clients rate down to 4.25%. Yes, you heard me right. And you guys remember, just what was it the week before last? I closed on a house? No one could believe it. Other Realtors were, you know, chiming in, like, Oh, my goodness, how did you do that money? How did you do that? And of course I shared because you know, that's me. I don't mind sharing. It's not a secret. I'm always on this radio station. You know, talking about the buy down. Okay, so that's what you do. You negotiate that from the seller right now. And go ahead and and it can only come from the seller, the buyers cannot pay for this. So you go ahead and have them do the buydown for your client. And then now they don't have to worry about that high high rate. Okay. So anyways, congratulations again to Mr. Watson that close a couple of weeks ago. And he closed with a 4.25 rate as well, because I negotiated as for him as well got that the seller to pay down that rate for you. So that's something that can happen right now, you guys, this is very popular, at least I'm me and my lender, we're doing it out the park. So whenever I put an offer in, I'm asking the seller to pay closing costs. I'm asking for him to buy down the rate. You know what I mean. And a lot of times, I'm even asking for the list price to come on down. And I'm getting it, but I'm getting it at that 500,000 or higher purchase price. So my buyers right now that are looking at like 578 100,000 our homes, we are scoring some amazing deals, because I'm able to negotiate some great deals for them right now. Now, any of my buyers that are like at 450 or under, we're having a little bit harder of a time you guys, you know, to get the exact same thing. Why? Because there's so many people out there that are approved for that same amount because the rates did go up. So the same people that were approved for 500,000, last year before the rates went up, are now at that 350 $400,000 purchase price because the rates went up on them. So there's so many people in the boat, right? And they're out there looking. So now multiple properties, or multiple properties, multiple offers. They're competing for the same house. In fact, before I came in today to do the show, I had a buyer we put an offer in the house was going for 402,000. Okay, we put our offer in full price. You know, I did ask for closing costs, but there was multiple offers, and we got beat out. All right, that I'm just starting to see that for the first time in about four to five, four to five months, basically since last summer. Actually, let me take that back. Yeah, since last summer, I haven't It's been months since I've seen multiple, multiple offers on the properties. But they here we are, it's warming up. But here we are, it is springtime. And it always picks up in the real estate market around this time. And you know, staying true to fashion multiple offers on homes that are at 450 or less. So if you own a property that you think is worth about 400 or 50 or less, you need to listen to me and listen, it might be time for us to go ahead and put it on the market. Okay, because we're getting multiple offers now for your price point. So if you own a home that you think is worth about 450 or less, I can assist you on selling that property and will get multiple offers and you'll score a great deal as the seller. Okay, so if you're interested in finding out how much your home is worth, you can simply jump on my website and you can find it there you can look up home. Home valuation I always say it wrong but yes, www welcome home with monique.com It is free, doesn't cost you a penny and I will go ahead and send you over some information to give you an idea Have what the homes are selling for that are like your property. Of course, obviously, just a general estimate, as I have not walked your property yet to see what upgrades you possibly have. But if you know that you have not upgraded the home in the last five years, then you'll you'll have a pretty good idea of what we can possibly sell that property for. Okay? But anyways, you guys so let's jump back into it. I went over the rule area downpayment grant. Okay, there are other grants, teachers, teachers, please hear me teachers. We also have a grant for you as well. Okay. So this grant will give you up to $7,500 towards your down payment, you just need a 640 credit score, you do need to be a full time teacher. Now you can work for CCSD or a charter. As long as you are in Nevada full time teacher, you are eligible to possibly get this grant and it will give you $7,500 towards your downpayment, okay? Remember, your downpayment is only going to be about 3.5% of whatever the purchase price is. Okay? So with that being said, you can purchase over 700,000 if you so choose, alrighty, you cannot make over $130,000 a year, but you can purchase anywhere in Nevada, okay, there's no restrictions, you do not pay this money back. You do it does have to be your primary residence just like with most all the grants. Okay, guys, so this, these grants are not for investors is not for you to buy out of state as a vacation home. It is not for that it's actually for anybody that wants to purchase a home and live in the property. Okay. So just so you have some kind of an idea that you can purchase a home, let's just say at 450,000. All right. So they're gonna give you $7,500 down. And like I said, this is you know, a grant, so you do not have to pay it back. Also, if you are a veteran and a teacher, okay, so you are a veteran who happens to be a teacher, you can also use this grant now, Monique, why would I want to use this grant, I am a veteran, I get zero down. I only have to have a 580 credit score to use my veteran, you know, benefits. Why would I want to use this program? Well, guess what guys are my bets. Thank you for your service. First of all, you can use this for your closing cost, okay? Because although you do have zero down, zero downpayment for my veterans, as low as a 580 credit score, you still have closing costs. Now mind you, I am asking the sellers to pay that right. And just like you guys have heard me say, my veterans right now are cleaning up. I mean, they're literally getting money back when they purchase a home with me right now. God's honest truth, you guys, because I'm having the sellers pay their closing costs. I'm negotiating that, and then they already have their downpayment paid for their VA benefits. And by the way, remember, spouses, spouses of veterans that have unfortunately passed, okay, if your husband was a vet, or your wife was a veteran and she passed away, you are still eligible to use those benefits. A lot of folks don't know that they are still eligible, you're still eligible and still be you know, able to be blessed by those benefits. So for more information, my number is 702-984-3700. Again, 702-984-3700 Welcome home with monique.com is my website. And you can always check out my YouTube channel. Please like and subscribe, you guys. Show me a little love, please. But it's welcome home with Monique on YouTube as well. But real quick, guys. So if you are a spouse of a veteran that has unfortunately passed away, yes, you can still use those benefits and purchase a home. All right. If you're a veteran that already owns a home with your VA, you can purchase a second home a lot of folks don't know that. I'm here to let you know, yes, you can do it. And for more information. I'm here to help. So anyways, as far as the teacher grant, you need a 640 credit score. All right, they're going to give you $7,500 towards your down payment. Okay, and there is no mortgage insurance premium alimony. What does that mean? That that's the same thing for the other grant tool that you can use in Pahrump Indian Springs and Logandale. So that's a huge deal, you guys. So the Perak Logandale we'll just call that one the rule grant that one has no mortgage insurance premium, which saves you a couple $100 on your mortgage, typically your monthly mortgage, as well as the rate. The last I checked was 4%, which is two points lower than the average rate right now. So if you're willing to do a 30 minute drive and live in the beautiful Pahrump area, or Logandale, or Indian Springs, they've got gorgeous homes out there for a much lower, you know, medium price point. That is something that you could definitely look into with me 702984 3700 The teachers grant also has no mortgage insurance premium. So that that also saves you quite a bit of money and also has a lower rate as well. So for more information 702984 3700 So for the teachers grant, if you are a veteran, you can just go ahead and use your zero down benefits with a VA as well as take advantage of that $7,500 And pay that towards your closing cost. Okay, now remember, you have to be a full time teacher. You can work at CCSD charter in Listen, as long as you're a full time Nevada teacher, you can take advantage of this grant. Okay, guys, one more thing I want to talk to you about. I was out with some current clients at my favorite community my favorite masterplan community, at least one of them. Okay. I love the sky Canyon community if you're not familiar, it has got for me, I think it's one of the you know, most beautiful communities besides like McDonald's ranch, and, but I love it. So it's like the Northwest McDonald's ranch. At least, at least I think it is. It's got a beautiful community pool. It has state of the art gym for you know, for its residents. They even have a farmers market every Thursday at 2pm. I'm telling you, I just love the community. So they have some brand new homes out there that I have a relationship with. I went with my clients, I cannot believe the deals that they're doing out there. They're giving some great incentives. You guys listen to this. They are they have some four bedroom homes where they actually go all the way up to five bedrooms. But the one that I previewed that I really liked, it was over 3000 square feet. It was a four bedroom home. It had an office as well downstairs with a full bathroom downstairs that could be converted into a fifth bedroom if you so choose. All right. It also had a loft. All right, so plenty of room, Mountain View surrounding you, you're literally about 20 minutes away from Kyle Canyon, Mount Charleston, so you can be in the snow and like you know, 20 minutes. It's also very, it's cooler up there as well, just like Pahrump, because of the higher elevation, you get more rain than the rest of the valley. I personally like that being from Seattle. They have walking trails. I mean, they've got some brand new schools up there. They have the largest miss in the valley up there. You know, it is a master plan community. So a lot of great incentives. Like I said, they have the playground, the pools, you know, the gym, and all of this is free to their residents. But the here's the best part about this particular builder. All right, they are selling the properties at base price. But with all the upgrades included. All right, they put in this particular model that I looked at, they were selling it for 477. But it had $80,000 worth of upgrades included. The lot premium was included. Okay, so they're not even charging you for the lot. So right there you guys, the last person that bought they spent 477 Guess what it appraised for it appraised for 550,000. In fact, my colleague up there told me, Monique, listen, I've got an investor out of California, he's doing a 1031 exchange, he's going to buy four of these properties. Why? Because he's walking in with $73,000 equity, right out the gate. That's a smart move, you guys. It's a smart move. I'm telling you right now, that's amazing. So not only are they giving you the house, with all the upgrades, $80,000 with the upgrades up to five bedrooms, okay, they're also paying your closing cost, okay, and it doesn't stop there. They're even paying down your rate. Now, when I went last week, it was at 5%. So they're paying down your rate to 5% out of their own pocket. So the builder is paying for you to have a 30 year fixed 5% rate today, okay? Because the rates are over 6% right now. So they're gonna pay for you to have that low rate. They're gonna pay your closing cost. Okay? That's amazing. And they're gonna give you the house at base price. So the model that I'm talking about, it was what almost 3000 square feet. This particular model. Like I said, it has a full bathroom downstairs, an office or a fifth bedroom downstairs, all right. And, you know, four or five bedrooms, whatever you choose, you can do the office or the or the rooms. And you know, they're selling that for 477. So anyways, I have what are they I have the hookup. So if you're interested in that just text the word home to 702-984-3700. I will send you over there to my colleagues you will take a beautiful turret tour and you can go ahead and take a tour of the property and we will get you all set up for all those incident Tibbs like I said, closing costs paid by the builder. Also your buy down will be paid by the builder. So you will be at a 5% fixed rate for 30 years. All right. And in most cases you're going to walk in with equity all the way up to possibly $73,000. The last person that purchased the home was appraised for 550,000. She spent 477 on that property in the in the sky Canyon area. I don't know if you guys have ever heard of it, listen, it's in Listen, just look at it. But anyways, that's a heck of a deal. I just want to share that with you. I have the ability to get you out there, send you on over to talk to my colleague to make sure that all these incentives are given to you. And they will let you tour the properties and here's another thing so they are letting people move in the homes have already been built you guys so you can move into these homes. As soon as April they have April closings you could be getting keys in April. Okay, so the homes already built with all the upgrades like I said, they've already put the upgrades to the nines. So you're just going to choose which one you want. I want the one with the white cabinets or I want the one with the espresso cabinets and you are ready to move in within 30 days. Okay, so once again guys, if you are looking for a lovely single story home 2511 Ashley rose terrace, that's one of my listings. Again, that is a single story McDonald's ranch home. It is over 3000 square feet sitting on over an 8000 square foot corner lot. It also has four bedrooms with an office. Listen, it won't last. So if you're interested, you can look it up on Zillow 2511 Ashley rows or better yet you can look it up on my website. www welcome home with monique.com Check out me the checkout my my YouTube channel. Please like and subscribe and I've noticed that you guys have been doing that I want to say thank you so much for for liking and subscribing on my YouTube channel. Welcome home with Monique and also thank you for all the referrals, especially miss Mina and the Brewster's thank you so much. I appreciate every one of you that refer your family and friends, and I want you to have an amazing weekend. All right, God bless. 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. All right tune in next week.
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