Welcome Home with Monique December 21, 2024

What is Welcome Home with Monique?

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.

Wesley Knight 0:00
This is a Kun V studios original program. The content of this program does not reflect the views or opinions of 91.5 jazz and more the University of Nevada, Las Vegas, or the Board of Regents of the Nevada System of Higher Education. I know you see me on the radio, but you still don't pay me no attention.

Monique Buchanan 0:27
Listen, good morning. This is Monique Buchannan, 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. Good morning and Merry Christmas to all my kumv listeners out there. Listen. I want to take a moment just to say how much I appreciate your referrals and support all year long. I pray that the coming year brings you and your family's joy, success and just countless blessings. All right. I just want to take a moment to say thank you so much to each and every one of you. And on that note, I do want to give a shout out to Ms Deborah over at the Polo outlets. Her and her team over there listen to the show. And I just want to say thank you so much for that. All right, guys, let's go ahead and jump into the show. I want to give a thank you to my veterans out there. You know, the last seven months, I have sold quite a few homes to my vets, and it's very special to me when I'm able to sell a home to a veteran. You know, for one, it's a way for me to say thank you, because, you know, I don't charge them a buyer's brokerage free. I take care of some of their fees in that aspect, to show them, you know that I want to say thank you my lender as well, Anthony, he doesn't charge a bunch of fees as well for our veterans. He's on the lower end, especially when it comes to veterans, than most other lenders. So thank you, Anthony for giving back to our veterans as well. But guys, I want to reach out. Like I said. I've been, you know, selling a lot of homes the last couple months to my vets, and I'll tell you what, the majority of each and every one of these buyers that are veterans have been walking away with keys by me and my team with less than $1,000 out of their pocket. Yes, that's right, because they have zero down. You earn that benefit. You know, many of our veterans don't take advantage of their DD, 214, in other words, they're zero down for being a vet. So I hear a lot of the veterans say that they don't want to, you know, go ahead and purchase a home, because they don't know if they're going to be relocated within, you know, the next year or two years. And here's what I say to that, if you rent, you're going to be relocated and walk away with nothing. If you go ahead and take advantage of what you have earned right and purchase a home to build wealth for your family. You can always rent that property out if you are relocated and continue to build equity. In other words, continue to make money on that purchase. So if we bought the property, for instance, today, for 400,000 and let's say that you're relocated next year, right now, the home is worth, let's just say 424, 50, right? You're relocated, and you go off for five more years. Now, when you get back, that property is worth, like, 600,000 and you've allowed a renter to pay your mortgage, basically, so you've allowed somebody else to pay for that property for you, and you continue to make equity while you're deployed, while you're out, you're still bringing in funds for your family, okay? But if you're a renter, if you're a veteran that's renting, then you're going to be relocated or deployed, and it stops. There's I mean, well, it never started. You never made any kind of income off of being a renter. So that's what I'm saying. So we can always rent the property out, or we can always sell the property, you know, hey, if we sell it, you if it's only a year, maybe you walk with 20,000 maybe you walk with 50,000 but as a renter, I always say you're gonna end up having to video the property, beg for your security deposit back, right? And guess what? Guys, you're a veteran, and when you rent, they don't give you any special breaks because you're a veteran, which I think they should, but they don't. They still require, you know, in many cases, a 660 credit score. They still require, you know, you to provide them your income, to prove that you can afford the property. So these are the hoops that you have to jump through with just trying to rent a property. Why not go ahead and do the same process, but purchase the property for zero down. Let me negotiate to where you're like the rest of my clients this last couple months, you know you'll be out of your pocket right now because of where the market's at. Yes, the rates have come down a little bit, but not enough to make a big splash, right? That's good news for you. Veteran. That's good news for you. First time home buyer. Why? Because I'm able, me and my team are able to negotiate those costs from the seller. So you'll be like many of my clients previously, where they're walking away with homes for less than $1,000 out of their pocket. That is what's going on right now. And by the way, veterans, you guys, autumn. Automatically get lower rates than the general public. Okay, so my vets are always a little bit lower when it comes to their rates, you know? So keep that in mind. All right, so you're already going to be scoring a lower rate than the most of the general public anyway, no matter what the rates are. Let me give you an idea. I've got two of my kumb listeners. They're both veterans, and they're going to be purchasing a home with me and my team. Now they are going to be purchasing a home at $400,000 and their payment is going to be around $2,300 okay? Now for my regular folks, that payment, that same payment, is going to be around 26 $2,700 so that gives you an idea of the, you know, the little break that vets get on the on the rates, all right? And like I already said, we already are discounted. Our services are discounted with our vets anyway. And then if you're unfortunately a disabled vet, right, depending on the percentage, you will get a tax break as well. So you won't even pay full taxes on your property. So now you're buying a home zero down, right? In many cases, you're going to have zero closing costs, because I'm going to be able to negotiate, if you are able to move, you know, within the next month or so, I'm going to be able to negotiate those closing costs from the seller, right? So now you're zero down. You're walking away with a home for very possibly under $1,000 out of your pocket right up front cost, right? And then your mortgage is already lower than most, because you're gonna have a tax break. You know, right now, you guys are able to use it on your cars. But guess what? You're able to, you know, car registration. You're also able to use it on your home taxes, in many cases, if you're a disabled vet. So there's a little nugget for you, and that's what sets us aside from a lot of other people out there, is that we know the nuggets. We know how to guide you, and you know, get you to where your payment is lower. Heck, right now you're probably listening to me paying $2,300 for a rental. And so once again, if you are a veteran, you have earned this. It just, it just hurts my heart to think you could be building wealth for your family with nothing out of pocket, for your down payment, and very likely, less than $1,000 out of your pocket period to purchase a home and start gaining wealth, making money every year on your property as it goes up in value. Rather than rent a property and make absolutely nothing, nothing, you're losing money every time you make a rental payment, you're paying somebody else's mortgage off. You are creating wealth for someone else's family. So why not create the wealth for your own family. Okay? So just think about that, guys, because that's real. That's real. I rented for five years. You do not have to be a veteran to purchase a home with zero down. Let me say that again, you do not have to be a veteran to purchase a home with zero down. If you have been renting for the last three years. Does not matter that you purchased, you know, 10 years ago, seven years ago, or you co signed and you guys sold it, or you short sold, you know, five years ago does not matter, as long as you do not own a property currently, or if you have been renting for the last three years, you are considered a first time home buyer. Well, what does that mean? Monique, that pretty much puts you in the same position as a veteran. Okay, so you're still gonna be zero down out of pocket, zero down. Okay? And I'm still able once those rates actually do fall, like we are anticipating this coming up year, because if the rates fall, all these people you hear at work that are waiting to buy a home, they're all going to jump into the pool at once. And I know that for a fact, because when the rates went down just a couple months ago to fives, I mean, there were so many people calling me and my team to sell them a home, and we got them done. But let me tell you, it was an influx, even with just that. So imagine when the news and everybody starts talking about the rates are in the fours. There is going to be so much competition, because we still don't have a lot of homes for sale here in the Las Vegas Valley. I mean, everybody from all over the country has been pouring into Vegas, especially with all the new things that are coming to Vegas. I mean, they're starting to make movies out here. We've got the Oakland A's coming. We already have an amazing WNBA team. Of course, Go Knights. We've got them. And of course, our Raiders. You know, we have never had this before in Las Vegas, but Vegas is changing. You know, I get a lot of California people call me and they're shocked at what our medium home price is right now. You know, they're like, wait a minute, I thought Vegas was cheap. Well, yeah, not anymore. So that's where we're at, and it's only going up. It's only going up. Why in the world would the prices come down with all that's happening in Las Vegas? Everybody wants a piece of Vegas right now. Investors have poured into Vegas, and they're trying to buy any and everything that they can all right? So you think it's pricey now, wait a year. Wait two. Years, and let's see where it's at then. I mean, think about it, five, six years ago, you could buy a house here in Las Vegas for 250,000

decent little two story house, 2000 square feet. That same house is going for 420 today, a lot of people are busy shopping and paying attention to Christmas and the New Year's. Guess what that does for you? If you're thinking about purchasing, if you move quickly, you're gonna have that much less competition on the home that you want, right? And I'll have that much more buying power for you and negotiating power for you, because everybody else is running around focused on the holidays. And by the way, the prices of the homes are down a bit right now because of the rates. But once again, if you follow the crowd and you wait for the rates to drop, instead of allowing me to go ahead and get you in a home, right? And then when the rates drop, you just simply refinance, or we use some of the negotiated money I get from the seller to buy your rate down. You can do that. You don't have to wait. You can buy your rate down. I bought my rate down in June. It was at the rates were like 7.2 I bought mine down to six. You can do that, you guys. So if I am able to get the you know, cost to buy down your rate from the seller, which more than likely I will be, you can just go ahead and do that. That way you don't have to wait for everybody else to jump into the pool and then now you're just taking whatever you can get, and you're paying 20, $30,000 above the asking price for it because you waited for everybody to join you. I got off topic again. We're going back to the down, down payment assistance programs, if you're just tuning in. This is Monique buchann. I am your 50 states realtor, but I am local here in Las Vegas, Nevada, me and my team would be honored to assist you or your loved ones, your friends and family, if you're looking to list a property or purchase a property. So once again, guys, Monique Buchannan, 7029 84, 3700, welcome home with monique.com. Is my website, and we are talking about down payment assistance programs. They are still around. And yes, you can buy a home as long as you have not purchased in the last three years. In other words, you've been renting for three years. You're considered a first time home buyer. Okay? A lot of people don't know that you only need a 640 credit score. Well, guess what? Today, to even rent a property, they're asking you for a 640 credit score. There will be a five minute application that we'll send to you. Right? Five minutes that easy does not even pool from your credit. It's a soft pool, and we'll be able to tell you, yay. Guess what? You are approved. Me and my team are gonna get you out there and look for a home. Or right now you're not quite there, but here's what we want you to do while you're renting for the next six months, and then we will get you into a home. We will give you guidance and let you know what it is that you can do so that you can be in position when your lease is up to go ahead and buy, and that's what we're here for. So once again, 640 credit score zero down programs, right? So once again, if you have family members, friends that you've heard talk about purchasing a home, but for some reason, they're waiting a lot of times they think they can't do it. A lot of times they think they have worse credit than they really do. That's why I say, hey, it's a five minute application. We'll text it to you. Right? Takes five minutes. A lot of times people are counting themselves out and they're wrong. They're actually in a good spot. Their credit is better than they thought. All you need is two years on the job, any job, it doesn't matter that you changed jobs, or you did this and that as long as you have been working for the last two years, you're good to go. And in many cases, even if you had a little break there, as long as we can, like, explain it away, you still will be good to go. If you're a business owner or Uber driver a 1099, we just need two years tax returns. Okay, guys, but if you say, but Monique, I haven't done my taxes for two years, well, now we have to have a quick conversation. You need to go ahead and file your taxes. You're gonna if you owe money, you just need to make a payment arrangement, and after you can show that you've made three of those payments, you're ready to go. Isn't that great? Once again, people thinking that they can't buy a home when they really can, and they're always shocked. And I love to give keys to people that thought, you know, I can't buy a home, or especially when they've been told, No, our clients, they're going to be coming on the show. Shots out to Bibiana and Joe, our kumb listeners. They called me. Joe said, Monique after you, I'm giving up. He goes, I listen to your show. You know, you sound like you're knowledgeable, you sound like you're passionate about helping people, and because of that, I'm gonna give you one shot. He goes. I've been told no by so many lenders. I've been told no that me and my wife would not be able to purchase even by our bank that we were with for 20 years, he said. And I said, I'm just gonna give her a shot. So guess what? I gave him and his beautiful wife keys just last month, so they're spending Christmas in their home, and they were told no by many a bank and many a lender. Don't give up. You guys. Every single lender, every single bank, has different guidelines, and in a lot of times, some people are just not. On some of the programs that are out there, you know, they're just have tunnel vision. They've got the blinders on. If you're just not a slam dunk, you don't have a 820, credit score, and you don't make over 100,000 year, they just want to, they don't want to deal with it. They, I hate to say it, but a lot of people just don't want to deal with it. They want to just do easy deals. That's not me and my team, okay, that is not me and my team. Every Christmas I typically will tell my my testimony. And if you don't know by now, I'm a woman of faith. I am a believer in Jesus Christ as my savior. He is the one that opened this platform for me. And I tell you that I mean it, because God would have this emotion over 15 years ago,

the gentleman that actually hires or puts the spots out for these shows. I actually met him 15 years ago, GM, here at kumb. Now, he was working and for a radio station back then, and we just, you know, became friends. And I was always very friendly with people when I worked in the casino, we kind of stayed in touch. He's seen that I got my real estate license, and he reached out to me and said, Monique, would you like to do a show? Well, guys, that was almost four years ago. I was the first realtor to come on to this show and start a real estate show. And I'm humbled, and I'm just so thankful that God opened that door. You know, even back then, God was making a way. So, I, you know, I always want to give my testimony out there sometimes, you know, you take a leap of faith and you're scared, but you got to take that leap of faith. I don't know who needs to hear that, or, you know how I got off topic again. But anyways, don't give up. Don't let someone tell you no and just give up. You know, one time, two times, even three times. There's been a couple this year of clients that we're told no, and, in fact, told they would never be able to purchase. So I am going to have them come on the show. They said, Monique, we want to come on the show and tell our story. And I said, I absolutely want you to. So this year, you guys, you're going to hear me talking about solar, because I'm an avid believer in solar. I don't talk about anything that I don't love or have a passion for I have a passion for helping people. I have a passion for real estate because I see the transformation that it does in people's lives. You know, you start building wealth. Everything changes, right? So, yes, I have a passion for real estate. I have a passion for going green, helping our environment, but also helping people to start building wealth in another way, that's also going to be a blessing to your children and their children's children. So yes, you're going to hear about solar this year. You're going to hear about real estate, like always this year, okay? And you're going to hear about me talking for the first time about joining my team, the welcome home team. If you're a broker or a, you know, a realtor out there, your realtor thinking about making a switch of brokerages. We're growing. We're excited. We're doing great things over here, and I'd love to give you an invite so but yes, guys, I'm excited about 2025 I pray that you guys are as well. And I'm, once again, just on here, trying to talk to y'all before 2025 comes, you know, we still have some time. Let's recap the show real quick. I started off talking to my veterans. Once again, my veterans, you only need a 620 credit score. You do not need a lot of money saved up, because I'm going to have your down payment paid by your veteran benefit. Right? If you are thinking, well, I might get deployed, consider this, if you rent and you get deployed, you're gonna walk away with nothing, nothing. If you purchase and get deployed, you're gonna walk away with an asset that is continually making you money, you and your family. It's building wealth. Because what happens is, you bought it for 400,000 next year, it's worth 450 and so on and so forth. So you're making money on that purchase once again, if you don't want to rent the property out and continue to let it make money and have someone else pay it off for you, you don't have to whenever you are deployed, you consider having me and my team list it for you. We'll get it sold, then you'll take a nice hunk of money with you. You and your family will take that wherever you're deployed, so you did not walk away with nothing, and you used the benefit that you deserve, that you earned. Now if you are, unfortunately the spouse of a fallen soldier, please understand that very likely you are still able to use those benefits, and me and my team will let you know if that's the case. 702 9430 701 700 welcome home with monique.com. Is my website? Okay? Now let's recap on my folks that are not veterans. If you're not a veteran, but you have been renting for three years and you have been working for two years, you're considered a first time home buyer. That means that you also have programs that I can give you that are zero down programs. I can set you up with them. We've been doing them for years, zero out of your pocket for your down payment, and in this environment right now, just like the veteran, you'll be able to walk away with possibly less than $1,000 out. Your pocket to purchase a home. You heard me, right, guys, the reason that is is right now I'm able to get the cost from the seller. I'm able to say, Mr. Seller, I have a client. They're doing zero down. They need a little help with their closing cost. All right? They need a little help with their expenses to purchase your home. The sellers are going to say, well, in many cases, sure, go ahead, because they don't have a lot of people banging their door down, especially right now that it's a holiday, they're going to say, Okay, how much do you need? And you know, your girl, Mo, I don't mind asking, so I'm going to ask for it all. Now in many cases, you know, I might not get it all, but I sure I normally get about 75% of it at least. And in many cases, I do get it all just depends on how long the house has been sitting on the market and some other you know, you know things that are going on with the house, but if I get it all, great. You just bought a house with less than $1,000 out of your pocket. If I don't get it all, maybe you're gonna come out of your pocket $3,000 or so. These are all just examples of previous clients, recent previous clients. Okay, guys, this wasn't a year ago. We're talking last month and the month before that. So this is happening every single day. Once again, if you're thinking about renting a property, it's a Soft Pool, I'll send you a five minute application. Does not hurt your credit, does not bring any points down, because it's a soft pool, and then my lenders will talk to you and go over everything with you. Either they're gonna say, congratulations, you guys were just approved whatever you're looking for, and it does not like I said, take any points off your credit. So what are you losing? Because even if you rent, they're going to run your credit. And guess what, when they run your credit, it's a hard pool, so it is going to take some points off your credit because they're running it now. Why not find out if you can purchase a home? Why not find out if maybe that bank you talked to or that lender you talked to was just their company had too strict of guidelines, or they just missed something, or didn't know of something. Why not give yourself an opportunity to purchase a home for 2025 for you and your family. You guys hear me say it all the time. We're turning into little la if you don't see the writing on the wall, I don't know what to tell you, okay, but I'm here giving you ways to get it done. If you already have a 401 K, you can pull from your 401 k. And as far as I know, I've never known any client to pull from their 401 k. And the 401 K penalize them, because as long as you tell them you're purchasing a home, typically they will not even penalize you. They'll say, Okay, no problem. You just let them know your tax guy the next year. Of course, I'm not a tax person, so you want to talk to them, but yes, that's normally what will happen if you have 401, K money, you could pull your own down payment out of that. Okay, so just keep all this in mind once again, guys, Merry Christmas, and I pray that you and your family are blessed this year coming up 2025 me and my family are humbled and truly grateful for each and every one of you listening to the sound of my voice, all the companies and businesses that listen and play KU, M, V, 91.5, thank you for listening and supporting this radio station, and until I hear from each one of you, or any of you, Have a Merry Christmas and 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.

Transcribed by https://otter.ai