Wesley Knight  0:00  
This is a KU NV studios original program. 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. You

Monique Buchanan  0:40  
you well. Good morning Las Vegas. It is Monique Buchanan, the host of the Monique Buchanan show. Thank you so much for tuning in. I truly feel blessed this Saturday that you decided to listen to yet another Monique Buchanan show, all about real estate and more. I've got my co host here, Miss Rebecca coins, good morning.

Becky Coins  0:58  
Becky, good morning. Mo how are you? I am wonderful, and how is this

Monique Buchanan  1:02  
always well, I know that's right. Girl, we were supposed to be doing testimony. So remember we said we're gonna do that. So let me let me see. Let me see. Let me see. I got a lot of testimonies. Let's see. Do you want to start with a testimony something good that's happened to you over the last weekend or week?

Becky Coins  1:16  
Well, you know, I don't think I've mentioned that on the show, but my daughter in law's little sister, has been going through a little cancer battle. Yeah, so her name, her name is Mackenzie.

Monique Buchanan  1:26  
Mackenzie. We love Mackenzie. We're praying for you. Yes,

Becky Coins  1:29  
she has. She is now out of the stage and in her like, maintenance phase. So she's been cancer free for the most part. So now she's doing her maintenance stuff. She's a little stumbles, but she's been doing really, really well. So I'm very, very, very happy about all that.

Monique Buchanan  1:43  
Look at God, see, and I didn't this is update you're giving me over the air. Because normally you give me updates, I know, and I am so grateful. I'm gonna share that with my little girls. You know, they be praying for Mackenzie, yes, because Mackenzie's around their age. What she third? 12?

Becky Coins  1:56  
Yeah, 12. She's about to turn 13, yeah. So Malia

Monique Buchanan  1:59  
is about to turn 13 too. Yeah. So I'm so grateful that God is hearing everybody's prayers for Miss, little miss McKinsey. Thank you all, yeah, now she's going to Disneyland as well, overseas, isn't she? No, no, she's

Becky Coins  2:11  
going to Hawaii. Oh, they're sending her to Disney Resort in Hawaii,

Monique Buchanan  2:15  
and there was a nonprofit that was doing that for her, right? Well, shop them out, girl, yes.

Becky Coins  2:19  
Give them a shout out. I believe us, the cure for kids, if I recall correctly, God bless them. If that is them, or whoever it is, there's been several charities, and the Golden Knights have done something for her. They just went there. But yes, they've taken very, very good care of them, and I'm very blessed.

Monique Buchanan  2:32  
And thank you for, you know, giving back, yes, awesome. And thank you for the great news. All right, so my testimony is, you know, my father was born at home in Texas, a small town called Chilton, Texas, just south of Waco, Texas. Anyways, it's extremely small. He's born in 1949 so we have tried to get him his passport throughout the years multiple times. Yeah, you and I have talked about that, yeah. So, by the grace of God, girl, my daddy got his passport. Oh, how, let me tell you what I had to send in, honey. I was over there doing, like, ancestry.com stuff. Okay, I had to prove I pulled my great, great grandfather, who was born right before, like, right when slavery ended. Oh, wow, yes, I pulled his world war one draft card. Okay, I had to go deep. I pulled the 1950 Census Bureau that showed my granddaddy put my dad on the Census Bureau as one years old because he was born at home. Yeah. So they had same thing for 65 years. We have been celebrating my daddy's birthday is April 19, the first time we tried to get his passport, we found out that his birthday was April 21 Now, mind you, my little sister in Seattle had a baby held off until April 19 to have that baby on his birthday, and she's still mad at my dad that he celebrates the 21st now, anyways, but That's my testimony. You know, by the grace of God, I jumped through so many hoops to get it, but it was nothing but a prayer. I said, Lord finally, yes, please get this for my father, because he wants to go to my daughter in Europe. Yeah, and she wants him over there. She wants to visit. He's never been out of the country, so now we are booking him a ticket to London. They're gonna spend a couple days there, and then they're gonna go off to Albania. Oh, I to Albania. Oh, I love it, finally. So that is my testimony. So thank you Jesus, and I know my dad is happy to get away from me. Okay, guys, well, anyways, thank you for tuning in. And you didn't probably know by now, this is a real estate show. And No, but seriously, we've got some some good topics to talk about. Mainly, we want to kind of update you on just where the market is now. Here in Las Vegas, if you haven't already heard, the rates have dipped again. The window has not closed yet. Yes, the rates are sitting at around 6% according to Anthony this time last year, we were well over seven. Yeah. Okay, and so the rates. Have come down, but we still have a shortage of properties here in Las Vegas. We have about six to six to $7,000.06 to $7,000.06 or 7000 Thank you. Single family homes for sale in Las Vegas. You know, it might sound like a lot, but when you compare to you know how many people, over 2 million people live in here, yeah, and then a lot to go around, not to mention investors pouring in from all over the country now, because of all the things that are happening, just the demand for their houses. So every year, we always start picking up around. Now, is that right? Oh yeah, every spring, it's that time the even, the even the hesitant buyer comes out right around.

Becky Coins  5:38  
Weather gets nicer. They want to get things taken care of before summertime. Spend the summer before school starts.

Monique Buchanan  5:43  
Right, right, right? So you might feel like that's a lot of homes, but it really is not. So it's kind of like, kind of like having, you know, 10 tickets to, I don't know who's, who's popular, the George Strait concert,

Becky Coins  5:55  
back straight boys back here, Usher's

Monique Buchanan  5:57  
concert, or whoever you're into 10 tickets, right? But you got 100 people who want to go. So even if you were to add two more tickets, you know, it's still going to go real fast. That's kind of like our housing market, you know what I mean, so and it, of course, depends on what area you're looking at. Yes, are you looking at a house that has a pool? We live in the desert, everybody wants a pool. So homes are still sitting on average, 50 days or more. The regular home is right, if there's nothing extraordinary about it, if it's not flipped. And when I say flipped, I mean within the last five years, that's what we mean when we ask, are there any updates to the house? If you are thinking, oh yeah, when I bought it 20 years ago, I got those extra countertops and I got the extra Yeah, but no, that's that was 20 years ago. Yeah, the the trends have changed probably seven times since then. So what they do is they're looking at the past five year trend. So, you know, when we say updates, we mean, have you did any flooring in the last five years? Have you updated the kitchen in the last five years, you know, paint baseboards now, you know, now people are putting the seven inch baseboards in, like the really big baseboards. So that's, like, that's a trend.

Becky Coins  7:11  
And when you see those trendy ones, that's, that's the most desirable house in the neighborhood right now.

Monique Buchanan  7:15  
Everybody wants that. They want to be able to walk in, sit their stuff down, and start cooking dinner. And so obviously that home is going to sell quicker than the home that doesn't quite have all the updates, yeah, maybe it still has a little baby Spanish Tile countertops, yeah, but you updated maybe some other things in the kitchen, the cabinets, you know, so you partially did it, so that's still appealing. It might sell a little bit faster than the one that's not updated at all. Yeah. Now, if you have a pool that bad boy, I don't care if it isn't updated, it's more than likely going to go a lot faster than the average pool houses do, yes, because people understand that they can go in there and update it their self, but to build a pool on the back is extremely expensive and it's time consuming. Yeah, right. So why not just buy a house with a pool and fix up the inside? So you can speak on that a little bit. One of our clients, he started off, I want a pool only a pool. Give me a pool. Pull, pull, yes, and a big pool and a big pool, not even regular and oh, so we said area, you guys. Summerlin Henderson, these are very sought after areas, yeah, in the valley. So obviously, homes that are being sold there, they may have a better chance of flying off the market a little faster than a lot of them did. Yeah. Then, you know, maybe, like, I don't know, Pahrump, because it's a little farther.

Becky Coins  8:35  
He was open to the whole city. I mean, that was where he preferred. But he was open. He was looking

Monique Buchanan  8:39  
everywhere, all three I love it. And by the way, Vegas are we consider a 1960 like, that's like an old, older house here in Vegas, which that's not even that

Becky Coins  8:48  
old, no, not when you're that he bought in Washington. Was like 1920s Yes, and I love those homes. So do I? I love them. The character

Monique Buchanan  8:56  
of them are, mean, you're talking Chicago or any other city. We're talking over 100 years old, and you're proud to have it, but we're youngins. Here we are youngins. We are. So anyways, it does matter what area you're looking in. Yeah. So did he end up getting something with a pool? No, what's going on?

Becky Coins  9:11  
Well, we looked at a couple and there were different things that happened. He now wanted to, kind of like shift his little focus a little bit, because he was getting beat out on those house with pools. There we go. So a lot of the deals, like, we were very, very competitive, but it just we were like, right there, right there. And then something would happen. So he decided, let's just get a big lot that I can put a pool in.

Monique Buchanan  9:33  
There we go. And so he's still looking in the Henderson area, yes, yeah. How's that going with that recently? Because the buyers are out. You guys, I'm telling you, people are not waiting on the sidelines anymore. No, they're like, Okay, I'm not waiting anymore. I'm gonna get a house before I can't get a house. Yeah?

Becky Coins  9:49  
I started laughing, and I see it. I teased you see it? Oh yeah, I teased him. I said, I think we're being stalked. And he started laughing, because I you know, he like, oh, this house has been on the market for a minute. Let's go take a look at it. We were out, I kid you not. We got home, and as he's contemplating over the three, four houses we went looked at if he wants to put an offer in, under contract, under contract. And that's just how it happens.

Monique Buchanan  10:09  
You know, the house might be on the market for 90 days, and you're thinking, Oh, nobody really wants this house. I have time. Not anymore, honey. Spring is around the corner. These buyers are out. He didn't even get home until and this is what I'm warning people about. See it's already starting right the when we've been saying the window is closing. So anyways, this is the Monique Buchanan show, and we are talking all things real estate, not only here in Las Vegas, but hey, we are in 24 countries, and nationwide, 7029, 84, 3700, selling, buying a home, investment properties. We cover all that. 702-984-3700 welcome home with monique.com. Is the website that you can click, click, click, look at homes. You can also get a valuation of your property that you own. Now, if you're thinking about selling, you can get tidbits on how to get your home ready for selling. So anyways, 7029 84, 3700, if you're thinking of buying, thinking of buying, selling or investing. So we're just talking about how the tide is turning. I tell my clients right now, by summer, by summer, if you need closing costs, it's gonna be too late. We're already starting to see it. Oh yeah, it's gonna be too late. That window is really shutting. We're getting less and less before it was easy for easy for me to get 10,000 or more on my on my for my clients, yeah, and it depends on the house. If you're thinking of getting closing costs from a house with a pool, good luck, because unless that house is completely dilapidated, you know, they know, at least if they have a decent realtor, they know, hey, if we just hold off. There is summers around the corner, somebody's gonna come and give us what we want for that house, because a pool is sought after here in Vegas, very much. So at least in my real estate opinion, my humble real estate opinion, you know, I mean, so just keep in mind, it's not every single house, but a lot of houses that are sought after are gonna go quick. And speaking of that, I have an upcoming listing, Spanish Trails is where we're talking about and it is a listing. It's a town home, and it is a two bedroom, 1758 square feet. So it even has a study that you could turn into a bedroom. So technically, it could be a three bedroom. And let me tell you, something has like these, sub zero, you know, refrigerator, all the upgraded, you know, countertop appliances and things like that.

Becky Coins  12:26  
Townhouses come up often in Spanish, they do

Monique Buchanan  12:29  
not, especially under 500,000 Yeah, look at the location. You've got, golf course community. You're on a golf course community. You're guard gated. Throw, yeah, throw from Durango Casino. You're a throw from the airport. You're a throw from the Strip. I'm gonna have that one listed probably next week sometime. He actually had been renting it out to, what do they call it? Where the furnish finders. Furnish finders. Thank you. And he was doing very well with that. My clients actually are going to be purchasing a home in France, so I'm gonna, I'm gonna help them with that purchase, hopefully, and we'll get that going after we sell this one. So they're great people, and we're going to get it sold and but Yeah, that one's coming soon. Like I said, it's 1758 square feet, two car garage, golf course, Community Guard gated under 500,000 those are the tidbits for now on that property. But yeah, so a lot of people are starting to list their properties right now, because now the rates are at a pretty much price point. At 6% even one point will save you about $300 on your payment. So let's say you're buying a home Becky, at 400,000 your payments 3.5% that's $14,000 your loan amount will be about 386,000 and at 6% your your payment will be about $2,300 a month. That's principal and interest, right? But let's say that, and then the rates go up to 7% right? Now you're looking at about a 2571 payment per month. So that's $254 more, just off 1% and that's what we're talking about when we're when we talk rates. That's about $3,000 extra a year. That 1% increase will cost you. We can do the buy down, as long as we're able to get closing costs from the seller, which that window is also closing fast. Because if I'm a seller and I've got multiple people trying to buy my house. Why would I give you any money? Right? I'll just wait for the person behind you that's gonna give me everything I asked for. Yeah, Becky, would you do this? Would you here's, you know, I'm selling a house up in Seattle right now with my niece, and had a conversation with my brother in law. God bless him. Love him to death. But he bought a couple homes back in, I don't know, I think he said, like 2012 he bought, yeah, he bought some well, for investment purposes, right? And so he tells me, Oh yeah, Monique, you know, I think, I think she should offer, you know, about 50,000 less.

Becky Coins  14:58  
We've had a few of those. It.

Monique Buchanan  15:00  
And I get it, you know, he's thinking like an investor. Because investors, when you're an investor, they call it the 70, 70% rule. You've got to make money on the property, of course. So that's, of course, the mindset he's in. But you have to understand, she's not an investor. This is her first home, yeah. You also have to understand, you'll have to go find a needle in the haystack, which there's not to say there's not needles out there, okay, but I'm saying, how many people are willing to give you $50,000 off their house when they have all this, they have a realtor, their realtor, letting them know how much their house is worth. Heck, even all these third party websites are telling go, look it up, and they know what their houses are worth out there. Okay? Nowadays they know. So you can't get over on them like that. No. So $50,000 I'm gonna give you off the price of my house, and you want 15,000 in

Becky Coins  15:48  
closing costs here. Just let me hand you $65,000 like, who's gonna do that?

Monique Buchanan  15:53  
And that's the thing, you know. I'm like, I know you mean, well, yes. And unfortunately, there's a lot of people that do that. They advise people like that, and it's like, no, if you found that as an investor, that's great for you. But even investors know, hey, it's not easy finding the person that's willing to sell, and it's

Becky Coins  16:10  
usually distressed property. And even with distressed properties, there are risks involved. The whole process, absolutely, we've had our own Oh

Monique Buchanan  16:18  
yes, oh yes. So people are not out here to just give their homes away. And another thing I had to explain them, I said, Listen, people bought these homes at 2% Yeah, 3% they're not pressed to sell their homes. No, they can say, hey, if they list it, if it sells, great. If it doesn't, I'm good, no problem. Yeah, I can afford this mortgage, and that's a pivotal difference,

Becky Coins  16:41  
yes, yes. They can rent it out. They can. There's, they have so many options. They're not trying to give away.

Monique Buchanan  16:46  
No, unless there's just some major emergency in that, like I said, is a needle in the haystack you find somebody that, God forbid, has no, you know, they, they have to sell. You know, maybe a judge is telling them that you're, you have to sell and you, you have to sell quick. I don't know, yeah, but more than likely, no, the majority of these listings do not. They're not in a pressed situation.

Becky Coins  17:07  
And you know, I do want to say I've tried to educate some of the buyers that we've dealt with that have had the same issue.

Monique Buchanan  17:13  
But then they learn, yes, they learn getting beat out,

Becky Coins  17:16  
yes, but not only that, but I also try to explain to them, when you go that low, you're also kind of insulting the seller. And then sellers get emotional with their properties. Yeah, come in and be like, you're trying to tell me, this is what my house is worth. Like, who are you? Yeah, and then if you really do want the property, and now we're trying to negotiate, the negotiations go a little left.

Monique Buchanan  17:37  
Yeah, I'll help you out with that. So here's, here's the thing that I always tell people, listen at the end of the day, if you're getting a loan, you're not overpaying for this property, no, because, honey, the bank is not going to allow you to overpay for the property because they're invested in it. So what do they do? They require you to get a what, Becky, an appraisal. And what is that appraiser's job, to go in there and value that house, to make sure that you're not paying more than it's worth. Absolutely, that is his sole job. So instead of you, you know, offering, you know, 5040, 30 to 20, whatever less. And of course, I'm talking about normal home, 600,000 or less. Okay, we're in the millions. I think I was able to get $100,000 off. Yeah, that's one of my million dollar properties. Different, different ballpark. I'm talking about the average medium home. Okay, so instead of you going in there and doing that, how about this? How about I hit him over the head for 15,000 you know what I mean, 20,000 whatever it is that you need for closing cost. Right? Then we wait on the appraiser to come in and we say, Oh, Mr. Seller, look at that. We were willing to give you what you thought your home was worth. But now Mr. Appraiser has come in and said, Well, it's actually worth 10,000 less. Now that's where we start our negotiations. And say, Hey, we were willing to play ball with you, but unfortunately, that big, bad appraiser, he said, No deal.

Becky Coins  19:06  
Yeah, you need to say the countertops kind of took some Yeah,

Monique Buchanan  19:09  
that baby, that baby tile you had in there since, since you bought the house. And, you know, 1989 Yeah, but that's, you know, it is. We're making fun and we're making light, but we all love our homes, and we all make it our own. And so we're not coming, you know, for the people, but you have to understand that all that does play a part. Yeah. So when he comes in there and says, You know what, Mr. Seller, it's worth this, we go back and say, Hey, we want to. We want the property at this price. I think I may have had it happen twice in 10 years that the seller said, No, yeah, and that's their right to do. They can say no, but nine times out of 10 sellers don't want to start the process all the way over. They understand that that's the man's job. He's valuing their

Becky Coins  19:50  
home, and it's not changing the value of the property like you can go on to the next buyer, yeah, but that value isn't changing. Your property's still only going to be worth that if you go and get into contract. The next week.

Monique Buchanan  20:00  
Well, with FHA, it's six with them, so it sticks with the property, so your new buyer can see that it valued at this price. So, you know, a lot of times they'll just say, Hey, listen, as long as nothing crazy, you know, yeah, then they'll say, Hey, listen, just give it to the buyer, that property or at that price, and we'll move on. So this is part of the negotiations of having a experienced realtor. These are the things we do so 702984 3700 702984 3700 welcome home with monique.com and you can find me at at realtor Monique Buchanan on IG so my niece did end up getting her offer accepted. So I got her $15,000 reminds me of my sisters. Let me know my sister is my agent in Seattle. I love you girl. She does a great job. So I told her, go after the closing costs, get her 15 grand. We got the 15 grand. Sellers only needed a little five day rent back for all of you out there that don't know what that means, if you need time as a seller to secure the funds from selling your home, because a lot of people need the money to move. It's not cheap, yeah. So they say, Oh, hey, let me get paid from it first, and then I can use that money and I'll go ahead and move out. That's not a problem. We can negotiate that. It's called a rent back, you know, that's what we call it. And so, yeah, I just, you know, guided her through that, and just made sure that she was protected. And so there's, she's gonna give him five days. You know, I'm so happy for her. That's her first house. That's so and she just had her second baby on January 1. So congratulations, Sierra. Yeah. So anyways, so she's good to go. We'll be closing that deal in three weeks. And by the way, we were able to close three weeks later. In most cases, we can have keys in your hand. Now you'll always skip one month's mortgage. Remember that sometimes two months mortgages. In other words, if I give you keys on April 1, you will not have a payment till June. And if you want Anthony to make it July, he can do so that way you have a smooth transition. You have time to get yourself together, move, maybe out of your rental property, because then you'll have the, you know, cushion to move you want to worry about double paying mortgage and rent, so those things are in place for you. So that's what we're here for. You have zero down programs. Remember, you only need a 620, credit score. That's a nationwide program. They just have to be working for at least two years. Yeah, on their job. And then when I say, if you've been renting for the past three years, then you're considered a first time home buyer. That doesn't mean you've been renting, but you own something somewhere.

Becky Coins  22:22  
Yeah, let's make sure everybody understands. Because this is for,

Monique Buchanan  22:26  
yeah, this is for, this means you have no property. You don't want to buy a home. You cannot currently

Becky Coins  22:30  
own any other property, sold your property and rental

Monique Buchanan  22:34  
it, or you just never had one. Yes, for the last three years you've been renting. That's what we mean by that. So, pretty simple, pretty, you know, straightforward. If you've, yeah, if you've been renting and you want to buy a home, we've got down payment assistant programs throughout the entire nation, 620, credit score two years on the job.

Becky Coins  22:51  
I also want to remind everybody that we do have, you know, our service industry that we have here in Vegas, and just because you make tips, don't forget. Like I had my friends, they came on your while back last year, and when they bought their house, they were told her they're never going to be able to buy Heather and tayton, same thing. And she changed careers, and it was like, Oh, she hadn't been on the job. She had been working the whole time. She just changed jobs, which is allowed.

Monique Buchanan  23:15  
You're allowed to. So when we say two years, you do not have to be on the same job. Yes, but there's so many people that's been told that come to us and I'm so grateful, yes, that God has given me the people and the resources around us that can help. People that have been told they will never own a home. Yes, a lot of tipped people out there that work for tips. A lot of you guys have been told that you will never be able to own a home, because, you know, whatever the reason, like, a lot of your money is from tips, right? Yeah. So we have ways to help. But with them, they were told they would never

Becky Coins  23:45  
own Yeah, they were told they were never and that was by a lender. Yeah, and not all

Monique Buchanan  23:49  
lenders are equal, because, let me tell you, that's in banks too. Banks are really strict about who they approve. So a lot of times, if you've been told by a bank that you're not approved, and you've been with that bank 2030, years, and you're like, crushed. They're not all equal, you know, so just keep that in mind. If you're going to take the time to do a rental app, let them run your credit, do all the things, pay first, last deposit, why not put a little bit of that effort into finding out if you can own a home and have a fixed payment for 30 years? Yeah, that does not go up, down and all around. Thank you so much for tuning on in. Thank you so much. As always, mom. And of course, you know these, this just our real estate opinion. Are humbly, humble, humble real estate opinions. You know, obviously we live here. I've been here over 30 years. I believe Becky, born and raised, born and raised. There you go. So, yeah, so we, this is our valley. We know it. We also can help you in 50 states. Like I said, I'm about to close a house with my sister in Seattle. We've helped in Texas, Florida, North Carolina, South Carolina, Georgia. We've even helped a lady sell her house in Costa Rica. So 24 countries, more than likely gonna be hopefully helping my clients out with purchasing over in France, and I plan on trying to buy in Albania, if God says I. In this year. Pretty exciting. I'm excited for you. I love it. I love it over there. Have a blessed 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.

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