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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. The Monique Buchanan 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
The content of this program does not reflect the views or opinions of 91.5 Jazz and Moore, the University of Nevada, Las Vegas, or the Board of Regents of the Nevada System of Higher Education
Monique Buchanan 0:35
Well, hello, Las Vegas. This is Monique Buchanan, the host of the Welcome Home with Monique show, where we talk all things real estate and more. I've got none other than Miss Rebecca Coynes, my co-host. How are you, Becky?
Becky Coins 0:48
Good morning, Mo. I'm doing great.
Monique Buchanan 0:49
Good, good, good. It's a beautiful day today. We've been having some pretty good weather. Finally got to use my pool.
Becky Coins 0:55
Yeah, hasn't been too crazy yet, not too crazy,
Monique Buchanan 0:58
not too crazy, right? So, we've got a great show for you guys today. First, I want to start off with congratulations to my veteran. He is a firefighter, currently still in the service, and he just went into escrow. We did secure him $12,000 in closing costs.
Becky Coins 1:16
Awesome.
Monique Buchanan 1:17
Yes, ma'am, he's getting his earnest money deposit back, and pretty much zero, I think, out of out of pocket to buy his.
Becky Coins 1:24
I love
Monique Buchanan 1:24
it as he deserves.
Becky Coins 1:27
That's right,
Monique Buchanan 1:28
right. Okay. And then, of course, I want to shout out my listings. Six to one El Gusto Avenue sellers went in there, and they.. well, let me just go ahead and correct that. Me and the sellers went in there. I did help them paint the house a fresh ultra white, and while we're on that, this show is going to be about listings, you guys. And I kind of want to let you know, even with this particular property, for instance, you know, they're living in their home, so they made their kids' room like bright pink, you know? You know, you make it your own when you're living in there, but when you're selling, you want to think model home,
Becky Coins 2:02
yeah,
Monique Buchanan 2:03
you want to think neutral colors, even though you love that purple wall, that might not be for everybody, you know what I mean, that's specific to you and your taste, yeah, so anything that looks specific to you and your taste, if you want to sell and get top dollar, or at least close, as close to it as you possibly can. You want to get rid of all the loud colors that are in a
Becky Coins 2:24
buyer needs to be able to picture themselves in that home.
Monique Buchanan 2:27
Think blank slate. A lot of people listen, don't have imagination. I'm one of them, so you know, just being honest, you guys, you want to always keep it very neutral, very easy for people to imagine their own, you know, quirky little ideas, and they'll be able to see that through white paint. Plus, white paint is so clean.
Becky Coins 2:49
Yeah, it's easy. It
Monique Buchanan 2:50
makes the property look bigger. It's just.. it's.. it's a go-to for me. I love fresh white paint. So, anyways, El Gusto, that address is 621 El Gusto, North Las Vegas, you guys, this property was built in 2021 It's 1415 square feet, three bedroom, two bath, single story. The backyard is completely done. It has the USB plugs in the kitchen, because obviously it's a newer home. Their power bill was under $100 every month. They do have solar, which was $94 so it's just a very energy efficient home, on top of being a single story, which is hard to come
Becky Coins 3:29
by. Yeah, that's important these days,
Monique Buchanan 3:31
right? Right. So the cross streets on that property, it's in the northwest area. It is on, well, the cross streets are basically Craig and North Fifth, and that's the major cross streets, okay. It's a little further down North Fifth, but for now we'll just say Craig and North Fifth. All right, that one's three bedroom, two bath, 1415 square feet, going for 384 999 I think I said too many nines, but you get the picture. 385 basically $1 Okay, then we have our next property on 892 North Hollywood Boulevard, that one is over on the east side. Hollywood Boulevard is an iconic street for Las Vegas, right? If you are not from here, let me just shed a little history, which Becky, I'm sure you know, that is the area that back in like the 80s and 90s, like the celebrities went up there and bought their homes because of the privacy and because of the iconic views.
Becky Coins 4:25
Yes,
Monique Buchanan 4:26
we're talking unobstructed city and mountain views all the way around the home. You've got the mountains behind you and in front of you have the entire Las Vegas Valley. Nothing to obstruct your view. You
Becky Coins 4:39
still love going and checking up houses out there.
Monique Buchanan 4:42
Yes, I purposely go up there every now and then, just to, you know, putt putt around. Now, this particular property, you're basically getting a half acre lot, right? They do have an elevated fire pit area for you to enjoy those views with friends. It is a single story, four bedroom, two bath, 2434 square feet. Eight, and it was built in 1983 but they did remodel the home, so it has a lot of modern updates throughout, and the way they position the windows throughout the home is like everywhere you go, you can see that view, that one's going for 620 you guys, 620,000 you're on the corner lot, and you have 2909 lot square feet. I know it sounds weird. 20,909 square feet, which is basically a half acre. Not easy to find. You've got RV parking, I mean, you could easily park. I'm not exaggerating, you guys. You could park at least 10 to 12 cars. They do have the gate, so the property is gated all the way around, and they've got the RV gate that opens, and you know what I mean, 892 North Hollywood Boulevard. We have our coming soon, and I'm hoping to get this one on the market and live by this Monday, no later than Tuesday. My sellers are doing some, you know, touch-ups in the home, they want to make sure that they pass it on to the next buyer in and getting it ready. So, anyways, this property is in the Cliff Shadows area. I like to track, like, do that little hike around Lone Mountain. If you guys aren't familiar, if you just moved here, well, once again, this is Monique and Monique Buchanan and Becky Coins, and we are 50 states and 20-four countries realtors, but we live here in Las Vegas, so we definitely got you covered. If you're just moving here to Las Vegas, and if you are, we want to tell you that there is a great hike. Yes, there's the red rocks, right? Those are beautiful, but if you just want something easy to get to, simple, you know, there's a park. You just park your car, and you can walk up that mountain, the little mountain, little mountain, and it has a beautiful view at the top. I did that for my 40th birthday.
Becky Coins 6:37
No, did you?
Monique Buchanan 6:38
Sure, did we walked up the mountain, and then when we walked down, we had like a nice little little put together brunch, yeah, a little picnic, but we have a mosa, honey, so I call it a brunch, but yeah, you guys, so this property, once again, is coming soon, and this property is located Cliff Shadows area, address is 3868 Badger Brook Street. Okay, that was going for 379 999 three bedroom, three bath, 1398 square feet, two car garage. And by the way, all the properties had two car garages, but the other one had a the RV as well. Okay, so if you guys have questions about those properties, or would like me to send you those properties, so you can view them. 7029 84 3700 again, 7029 84 3700 If you have questions, or are interested in any of those listings I just mentioned, okay? And there also will be open houses at the El Gusto property, that is a three bedroom, two bath, single story in the north area, four 384 999 Also, you can check the properties out at Monique Buchanan, exp realty.com Again, Monique Buchanan, that's B U C H A N A N E X P realty.com and I will also be posting the times for the open houses for El Gusto property, as well as 892 Hollywood property, as well. So, let's jump on into the show. Becky, I'm excited to re-announce the new builders right now. They're putting out incentives, right? In fact, one of my builders over by the property on El Gusto, I popped in there the other day, and she said, Monique, we're, we have the rates at 3.3 for our veterans and FHA, and we're going to give them $10,000 in closing. I'm not going to lie to you, that's probably lower than we could even buy it down.
Becky Coins 8:33
Yeah, I know that we're going to see that in general across the board.
Monique Buchanan 8:36
I don't, yeah, I don't know if we'll just see that, yeah, in general, like you said, just coming back 3.3 for that builder, right. And we don't tell you the builders on purpose,
Becky Coins 8:44
as we've explained before. They, the dual both sides thing, doesn't really..
Monique Buchanan 8:49
well, they don't. They don't do that at all. They represent the builders, and they'll tell you that themselves. Listen, at the end of the day, when you walk in here without a realtor, that's why they have it posted on the door.
Becky Coins 8:58
Yep,
Monique Buchanan 8:59
they say, "Listen, if you have a realtor, you need to bring her or him in, so they can at least sign you in. Once they sign you in, once you're good to go.
Becky Coins 9:06
Yeah, for the most part, on your own.
Monique Buchanan 9:08
Yeah, absolutely. But now, different communities, you need to have them come in as well. But you're good to go as many times as you want once you have your realtor sign you in. So, shout out to all my hard working realtors out there, right? You know, and just so you know, they're there to protect you, they're there to represent you. Okay, the builder's salesperson, because that's what they are, will let you know that, that they're not there for that, they're, they, they are there, of course, they're going to treat you nice, of course, they're going to go over the documents with you, as they should, but the builder signs their check,
Becky Coins 9:40
yeah,
Monique Buchanan 9:40
so you know what I mean, and now you know we've had them on the show, and they've said as much. Yeah, we don't represent the buyers, we need, they'll let you know that. So, anyways, so let's get back into it. So that particular builder has rates as low as 3.3 If you have, or you want more information, 702984 3700 it's not a problem for us to go ahead and just meet. Out there, okay. We have no problem meeting there. With that being said, this other builder of mine, or you know, and I've actually had these folks on the show before. She's come on the show and spoke, so she called me right away when they rolled this out. Up to $55,000 we're giving to the buyers. I said, "What I said, break it down to me, girl, she said they're paying their entire down payment. They only have to pay up to 1% of their closing cost. She said, "You know, so if they're buying something around 400,000 which we do have at this particular community, they're gonna pay $900 to buy the home. I said, "Wait, wait a minute, Gina, you mean that's it, $900 out of their pocket to get a brand new home. She goes, "Monik, I'm telling you, yes, because she's.. she said, what, depending on the price of the home that they choose, whatever they need is covered up to $55,000. She said, "We're giving them up to 27 five for their down, and then we're giving them up to 27 five again for their closing cost, and the area is, I don't know if it's called Paradise or if it's called Enterprise. To be honest with you, it's like right on the border, so it's right in the area, you know, very near the airport, actually
Becky Coins 11:11
centrally located.
Monique Buchanan 11:11
Yeah, it's centrally located. Hop, skip, and a jump from the strip. Now, you don't have to be a first-time homebuyer. What they mean by that, guys, is this is not for my investors out there, you know, to get a home for $900 and add it to their portfolio, but I'm not mad at you for thinking about it. Right? No, this is for my folks that are trying to live here in Vegas. This is going to be your primary home.
Wesley Knight 11:33
Monique Buchanan has served the community for over 10 years, helping homeowners, probate families, first-time buyers with zero-down grants, and investors nationwide serving all 50 states and 24 countries worldwide, 702-984-3700 At Realtor Monique Buchanan on Instagram, the Monique Buchanan team experience you can trust. And now back to the Welcome Home Show.
Monique Buchanan 11:58
You remember on the news a couple years ago at right after COVID, all the landlords, I think, were trying, a lot of the landlord was trying to recoup their money. Yeah, and they were raising people's rents by 500 $600 after their lease.
Becky Coins 12:10
We had people calling us left and right, going, "Is this.. are they allowed to do this? Get ready to go renew my lease? And what am I going to do?
Monique Buchanan 12:15
And we had to tell them they absolutely are allowed. Or how about when, when you're out on vacation and you've like my best friend. Well, our best
Becky Coins 12:22
friend
Monique Buchanan 12:23
out on vacation, a friend of hers, she had been renting from and paid early rent for so many years. She felt so secure in that situation. Remember, I was talking to her, I'm like, just please at least get yourself set up. So she did do me one favor. I said, because she works as a bartender, makes great money. I said, Alicia, just do this. All I ask is that when you make your tips, can you please just put them into the bank?
Becky Coins 12:46
Pause them like clockwork,
Monique Buchanan 12:49
like clockwork. Every night when you get off, just put them in. I don't care if you pull them right back out. We have got to see a paper trail, so if God forbid this man decides to sell this house from under you, you're able to get approved, and what happened? Becky,
Becky Coins 13:03
he decided to sell the house
Monique Buchanan 13:04
while she was on her birthday trip in Costa Rica. Yep, she got an email. We've decided to sell. You have 30 days to move.
Becky Coins 13:12
It's happened multiple times.
Monique Buchanan 13:13
Multiple
Becky Coins 13:14
happened to me.
Monique Buchanan 13:14
Oh, did it happen to you?
Becky Coins 13:15
Yeah, wow, that happened to us twice. One was a friend, we were renting from the front,
Monique Buchanan 13:21
right,
Becky Coins 13:21
and he decided that he, during the crash, he was going to let the house go. We thought we were secure, we paid our rent on time.
Monique Buchanan 13:28
You got good history with him, yep, that's what she thought.
Becky Coins 13:31
And then I got the phone call. Sorry, we're letting the house go. You guys can stay for however, but it's, we're letting the house go,
Monique Buchanan 13:37
and there's nothing wrong with what they're doing, because hey, they've got to do what's best for them.
Becky Coins 13:41
Yeah,
Monique Buchanan 13:42
but you need to do what's best for you.
Becky Coins 13:43
Yeah, I didn't begrudge any of it, but it was, you know, thank goodness we got the notification. It happened twice. We were like, okay, one time, fine. And when we got the second one, the same thing, we went to the property manager, and it was somebody we knew, and we were like, is this solid, because I have kids, I ain't trying to do this again, right? And he's like, "Oh no, no, this owner's solid, he's not going anywhere, you guys are good to go. And then all of a sudden I start seeing people taking pictures of the house, I'm like, "What's going on? And sure enough, but you gave us no heads up, you gave us no notice. It was kind of like, "Hey, this is happening, and now I gotta figure my stuff
Monique Buchanan 14:16
out, scramble you and your kids out of that house and find another house, and then come up. Let's talk about this, because let me tell you. Oh my goodness, I took - I took some cousins out the other week. I went ahead and showed them a couple rentals, and they came back. They got approved. The, the more, the mortgage - I'm so used to mortgage, you guys. The rent was $3,200 a month, right. And you know the only reason they did not buy is because they just did a bankruptcy. We, they have to wait one year,
Becky Coins 14:49
and there are those situations.
Monique Buchanan 14:50
There are situations, I get it. So they called me, and they said, Monique, we got approved. I said, okay, great. They said, but they want $9,000 to move into this house. House $9,000 to move into the house, because their credit, obviously, they just had bankruptcy, so their credit.
Becky Coins 15:10
I'm not shading nobody out there. You do what you got to do with the property management, right? But how about what they want for credit scores?
Monique Buchanan 15:16
Oh my goodness, and this is all because of Covid. You know, I noticed after COVID, that's when the requirements went through the roof.
Becky Coins 15:23
Yeah,
Monique Buchanan 15:24
unfortunately, a lot of landlords caught a raw deal.
Becky Coins 15:27
Yeah,
Monique Buchanan 15:27
they had to keep paying those mortgages, even when you
Becky Coins 15:30
totally understand. I feel it.
Monique Buchanan 15:31
Yes,
Becky Coins 15:32
both sides to everything.
Monique Buchanan 15:33
Absolutely. So they start now, just so you know, on average they want you to have a 660 and I'm like, you only need a 640 but you, as a rental, want 660 and if you don't have it, what do they do? Slap an extra deposit, triple deposits. Yeah, and let's talk about those application fees. You don't want me to run your credit to buy a house, but you'll let the person make you pay, and then possibly still not get the house and run your credit for a rental,
Becky Coins 16:00
and ours doesn't even hit your credit soft pool.
Monique Buchanan 16:02
It's a soft pool, make it make sense, doesn't hit your credit at all. This is the Monique Buchanan Show, and I am your host, Monique Buchanan, along with my co-host, Miss Rebecca Coynes. If you have any questions about anything you guys that has to do with real estate, 7029 84 3700 or if you're interested in these down payment assistant programs, we have access to all of them. Zero down, we have the culinary, we have all of them, 7029 84 3700 You can check out my IG at Realtor Monique Buchanan, B U C H A N A N. So we not only sell homes to buyers, we also list homes for our sellers. As you heard in the beginning of the show, I was kind of giving my sellers, or potential sellers out there, a little helpful hint, which is to try to make sure those, you know, the walls are painted just a neutral color. If you're thinking about selling, you know, little things like that, all the little things you were putting off, you know, you knew there was a leak under the scene for a while, but you're living there, so those are the kind of things you want
Becky Coins 17:07
to get a little touch
Monique Buchanan 17:08
taken care of. Yeah. Now, do you want to change out floors? Probably not, depending, depending, you might need to get the carpet stretched. People didn't, a lot of people don't even know that, that's that's the thing that's only cost a couple $100 versus repairing the entire carpet, you know, the carpet gets a little, that's why it's important to have a realtor. This is what we do, you guys, 24/7 and I say that because it's true. I think up, I wake up thinking about real estate, I go to sleep thinking about, you know what I mean, thinking about my clients, thinking about everything, the market. So we're in this, we're boots on the ground. What we do best, which is come over, take a look at your property, tell you where you can save money. mr. Seller, let's not spend $12,000 on replacing these floors, because it's not going to get you that back when we sell. But you know what will get you some money back is updating these bathrooms with that money in this kitchen, you know what I mean, we could take that money and do those things, those are high ticket items that buyers are looking for, you know, so that's what it's about, telling you and guiding you, giving you that guidance to what you can do in the property that will actually get you the bang for your buck when we go to sell,
Becky Coins 18:17
what's worth it, what's not,
Monique Buchanan 18:18
absolutely, and then another thing we want to touch on today is there's a lot going on in the world right now, you know what I mean, I know you, I know you guys know, right, it's no secret that there's a lot of uncertainty going on, you know, we're in a war and there's so much other things going on, you know, gas prices, all the things, right, well, unfortunately,
Becky Coins 18:41
living is expensive.
Monique Buchanan 18:42
Living is very expensive right now, and unfortunately, because of this, we've started to see a little bit of an uptick on notice of defaults and foreclosures. Okay, investors don't get too excited, but you know it's an unfortunate thing. Yeah, it's an unfortunate thing, but
Becky Coins 19:00
circumstances happen,
Monique Buchanan 19:00
but it's happening, and because it's happening, we kind of want to talk to those people that may have received that letter, that's a notice of default. It's a scary thing.
Becky Coins 19:12
It is.
Monique Buchanan 19:12
It's a scary thing. I just recently had a family member have that happen, and I went over their, their options with them, and the first thing they said was, Monique, we tried to save this, you know, she was hurt for a couple months, and they called to do a remodification, yes, you know, where they can kind of help them with the payments, and that's another thing, guys, if you get hurt or something happens where you're not able to work, you need to call your mortgage lender and let them know, because there are programs that are that they will work with you. You know, I've had clients where their, their mortgage was like $2,300 because they had back issues, and he had a back surgery, they dropped his mortgage down to $1,300
Becky Coins 19:55
Yeah, they, the mortgage companies will try to work with you,
Monique Buchanan 19:58
they don't want your house, they're not. In the business of renting out houses, or you know, they want your mortgage, they want your mortgage, you know, they want you to be able to stay in that house and pay it off.
Becky Coins 20:08
Yeah,
Monique Buchanan 20:08
so don't shy away from communication and letting them know, hey, this is what's going on, life is lifeing right now.
Becky Coins 20:17
Yeah,
Monique Buchanan 20:17
you know what I mean, and you would be shocked and surprised on them actually trying to help
Becky Coins 20:23
you, but I know a lot of people, they tend to put their head in the sand, they get nervous, they get
Monique Buchanan 20:28
mailbox,
Becky Coins 20:28
yeah. If I just don't look at it, it doesn't exist,
Monique Buchanan 20:31
and I get it. It is very scary, and if you don't know what to do, it's even more scary. That's why we're here, you guys. Once again, 702984 3700 Okay, I'm not going to push you to do anything, but I want you to know your options, because a lot of time, like for instance, back to my cousins, so they ended up calling this third party company that charged them an arm and a leg and did absolutely nothing for them, so they lost more money, right? So I said, you know what, where are we at? First thing I have to do as your realtors, I got to see how much time do we have.
Becky Coins 21:03
Yeah,
Monique Buchanan 21:04
so on that notice of default letter, it's going to pretty much give you a date,
Becky Coins 21:09
yeah,
Monique Buchanan 21:10
that you're basically, we call it like putting your house on the courtyard, you know, the court, what courthouse steps, right? So the auction date. So I got that date and we went ahead and listed the property. Why did we do that? Because we're gonna save them years and years of credit destroyed.
Becky Coins 21:28
Yeah, you want to be able to buy a house again, you don't want that foreclosure.
Monique Buchanan 21:31
If you want to be able to buy anything,
Becky Coins 21:33
yeah,
Monique Buchanan 21:33
like you know what I mean. Can you imagine how expensive even buying a car with that terrible credit is going to be in the future?
Becky Coins 21:39
Late payments, late payments can be dealt with. Foreclosure is a completely different beast.
Monique Buchanan 21:43
Yeah, it's, it's a, it's a different beast. But, anyways, so for them, they were, of course, up against the clock. So I have to price it. As a realtor, this is what I do professionally. Okay, we can't price it, you know, where it just sits for 5060 days. We don't have that time.
Becky Coins 21:59
Yeah,
Monique Buchanan 21:59
so obviously we want you to walk away with something, but you know something is better than nothing. Something is better than you having foreclosure on your credit, and you lost a house, and you lost all the equity, so now you get zero.
Becky Coins 22:11
Yeah,
Monique Buchanan 22:12
the bank gets to keep any money that they make off of selling it now, instead of you, and that should make you mad, right? So, what I did was priced it where it needs to be priced to get it sold, that way it moves quickly, right. We need to get sold, and they're still going to walk away with, or they did, I'm sorry, walk away with around $40,000
Becky Coins 22:29
Yeah, and that's enough to get them established and get them set.
Monique Buchanan 22:31
Yep, they're going to rent for one year, and then we're going to guess what, buy another house next year, and they're excited about it,
Becky Coins 22:37
and they'll be able to, yes, because they avoided that foreclosure.
Monique Buchanan 22:40
Yes, so that's what we're here to tell you guys. If this is something that you have a friend, family, or anybody that you know of that's facing this, and probate, Becky, as well.
Becky Coins 22:48
Yeah, probate. We have our probate clients that come out, you know, that's a whole different situation,
Monique Buchanan 22:53
whole different beast, lot of steps in that.
Becky Coins 22:55
Yes,
Monique Buchanan 22:55
you have to have an agent that knows what they're doing with probate and notice the defaults. This is not something that every agent just knows how to handle, so just so you know that it is, you know, yeah, a lot of steps, a lot of little innuendos that you need to know,
Becky Coins 23:10
and life happens, life happens. I know a lot of people have a lot of shame and a lot of guilt and a lot of things that, when it comes to whether the, whether it's the foreclosure or even in the probate, they're just overwhelmed, yeah, both situations are just very, very overwhelming. They are. That's what we're here to do, is to
Monique Buchanan 23:26
take some of that off your off of your shoulders. We're gonna finish this up and dive more deep into the notice of defaults and things like that next week, but we want to just touch on it a little bit and reiterate that 50 up to $55,000 I mean, you're basically in veteran status, you know, you're zero. Don't, don't, we said that you're even better because veterans get zero down, but they don't get the closing costs paid.
Becky Coins 23:48
No,
Monique Buchanan 23:49
but with this, they will. Yeah,
Becky Coins 23:51
right. So,
Monique Buchanan 23:51
900 as low as $900 out of your pocket. But, anyways, you guys, we pray that you have a great weekend. Stay blessed. Those listings, 621 El Gusto 892 Hollywood Drive, and of course 3868 Badger Brook. We love you, KUMB, and you can't do nothing about
Becky Coins 24:10
it. Have a good week.
Monique Buchanan 24:12
Bye. 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.
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