Subscribe
Share
Share
Embed
Every fourth Sunday, Regana Kooman-Henry discusses various aspects of the home buying process and home ownership experience.
Speaker 1 0:00
You're listening to locally produced programming created in KU NBC Studios on public radio K, u and v. 91.5. You're listening to special programming brought to you by Regatta. kumin. Henry of Coldwell Banker Premier Realty the content of this program does not reflect the views or opinions of 91.5 Jas and more the University of Nevada, Las Vegas or the Board of Regents of the Nevada System of Higher Education.
Regana Kooman Henry 0:41
Welcome to the Southern Nevada real estate Show. I'm your host Regatta. I am a real estate agent and broker associate with Coldwell Banker Premier Realty. I have been a licensed real estate professional since 1991. Kind of gives my age away, but I've been doing it a minute. And I am also a full time law a full time licensed real estate professional, not part time but full time full time career. Some of my accomplishments are, I am a quality service award winner. I have been ranked in the top 10% for all realtors in Southern Nevada by production. And I am a member of the Veterans Association, a real estate professionals. I have assisted in all types of real estate transactions over the years, from first time buyers to experienced sellers, and also corporate buyers and sellers transferring in and out of Southern Nevada. So welcome to my show. And first of all, I want to mention something I get this question a lot around this time of year about if this is a good time to sell or purchase a home? My answer is always to do the opposite of what the general public is doing. Try to take the road less traveled, not the road fully traveled. And as a seller, this is prime time to have your home on the market because the buyers walking through your home right now are going to be the most serious buyers on average for the entire year. And do you know why? It's because the what I call looky loos and flaky buyers, you know, show me tell me those kinds of buyers are getting ready for the holidays. They are in the mall shopping, decorating their home, getting ready for family to come visit them for Thanksgiving, for Christmas and for New Year's. Now many of the current sellers that are on the market right now are going to be pulling their home off the market soon for the holidays. What this means is you have far less competition, and more of an opportunity to get a better price for your home since there is now even less homes on the market around the holidays. Plus, anyone looking at your home right now is going to buy a home. If it's not your home, they're gonna buy a home. And they are usually extremely serious buyers. If they're looking for a home around the holidays. It makes sense, right. And if you would like more information on how to leverage your home on the market, around the holidays, my number is 702-596-1267. As for any buyers out there that might be listening and wondering if this could be opportunity time to purchase a home around the holidays. I would like to say you're absolutely correct. Just like it's a fantastic opportunity for the sellers. It is a fantastic opportunity for you as a buyer, since you would have less competition from other buyers making offers around the holiday time. Plus there are some builders of new construction homes that are giving much more incentives around the holidays and around the end of the year, because the builders want to get the remaining home sold and off their books before the new year. So there are opportunities for buyers right now. And I'm not sure if I mentioned on my previous shows, so I'll mention it now. I am also very versed with divorce or probate cells. And I'm mentioning this because there may be some listeners out there. Unfortunately, you know, Nevada is kind of high for percentage of people divorcing, unfortunately. And there might be some listeners out there that are going through a divorce or about to file for a divorce. It's just a part of life and they are certain that they are going to have to sell their home in order to split the proceeds between each other as a stipulation of the divorce settlement. So if you would like, again more information on how I can help you navigate through this very difficult, tough situation, my number is 702-596-1267. I also have a lot of knowledge of probate situations and sellers that are appointed as the executor that are in charge of getting the home sold. If you'd like more information regarding this, my number again is 702-596-1267. Now some of you listening may have even vacation homes, that you may be wondering if this is a good time to sell your vacation home, because you may not be spending as much time in the vacation home or for whatever reason you are, you're welcome to talk to me for information on if this would be a good time to sell to get your equity out of your vacation home. Now, if anyone out there even has rental property, and you're thinking possibly of selling your rental property, did you know that you will have to pay what we call capital gain taxes on selling a rental property when you sell it. And the only way to avoid paying those capital gain taxes on rental property is to do what we call a 1031 exchange. Some of you may be familiar if you're not familiar with what a 1031 exchange is, or you just like to talk about your options, even though you do know what a 1031 exchange is, again, my numbers 702-596-1267. And I can explain what a 1031 exchange is, what it's all about how it works, and how it can benefit you financially. And I know some of you are wondering, When will the interest rate go down? That's a question that I hear many times during the week. No one knows for sure an exact date for this. However, if you have a great desire, I mean a burning desire to become a homeowner. But or you're scared because of the interest rates. I'm here to help you to understand all your options. And I do have mortgage lenders that can sit down with you ask you some questions, do a quick they'll have to do a credit check and let you know your individual options to get a lower than average fixed interest rate. And what you would have to do to get a lower rate. Another option for you as a home buyer are some of the new construction homes where the builder has spent 1000s of dollars to buy the interest rate down to a much lower fixed rate. Since some of the builders own their own mortgage company, they are able to afford to do a rate by down for the buyers of their homes. If you are interested in purchasing a new construction home, and you would like buyer representation, then as your realtor, I must walk through the builders community sells office literally with you on your first visit to that new home community and register you on paper as my client so the builder will allow you to have what we call buyer representation. For more information on this, my number is 702-596-1267. Now, over the years, I can honestly say that I have been there and done that as the same goes. I have been licensed as a professional real estate agent and broker associate and it's been my full time career. Since 1995. You know, I had to build up a clientele because I really didn't know anyone out here. And it's all been here in Southern Nevada that I've had my real estate career. And you know, experience definitely and absolutely matters when selling or purchasing a home since for most people. A home is typically the most expensive transaction that someone will ever do in their lifetime. And I do take that extremely and very seriously. There are so many details and so many moving parts and different people and situations involved in just one real estate transaction. For example, you wouldn't go You wouldn't want a doctor fresh out of medical school to perform surgery on you, if you needed surgery, this is the same example that would apply regarding the most expensive transaction that a person would ever do in his or her lifetime. Now, I'm an open book, and I do believe in treating others, like I would want to be treated, I literally would not sleep peacefully at night, if I did not do the best that I could for my clients. And you know what I do believe in karma. Big time, I truly believe if you treat someone wrong, and the person you treated wrong was kind to you and only showed you kindness, and respect, and they trusted you, then somehow the person that treated that person wrong, will one day get the karma they deserved. It might not be right away, but it will happen for them for treating the other person badly. Sadly, from knowing from past experience, and I know there's some people in the audits that have past experience of people that are more, you know, they're takers, you know, they've experienced people that take take, take, but don't reciprocate and give back. And, you know, you only hear from these type of people when they need something. I know that I enjoy giving my time helping people to realize the American dream of homeownership. And I enjoy helping people that want to sell their home, to realize the American dream of building wealth through real estate. Now, I know there may be some people that are listening, that are not sure which real estate agent they should use, because you've heard the expression, they may have family members, and our friends in the business that are also real estate agents. Now, if you would like to decide to go with a real estate agent, that is not a family member or a personal friend, since you know more than one and you don't want to hurt someone's feelings or step on someone's toes, we can make an appointment to weigh out your options to possibly work together to avoid the conflict of trying to do business with friends or family members, which sometimes sometimes can be very stressful, if the real estate agent that your family or friend can't separate their personal relationship with you with the business side of the relationship. And if anyone has ever had a bad experience with a real estate transaction, I would like the opportunity to have an appointment with you. So that you can get to know me, not just as a real estate professional, but also to get to know me as a person, and how I do business. And how I am able to have such a wonderful career. Because let's face it, you know, without you guys that have continued to send me referrals, send me friends and family and continue to work with me. For all your real estate needs. I wouldn't be in business and I respect, I respect all my clients. And I am always always honest with them, even if it means to tell my client to walk away from a transaction or not make an offer on a certain home. Because I know deep down it's not in the best interest of my client. And you know, this is my career, and I am not the one to encourage my client to go through a transaction that I know is not a good decision for them, just to make a commission. And I stay in business by getting repeat business from my past clients. And that means I do work in my client's best interests before my own. And with that work ethic, I have been able to make a good career for myself. And now let's get to the heart of it. The stats and then you might be thinking, you know, why do I need to know the statute of statistics for real estate for each month? Well, you know, knowledge is power, you know, and the more you know, the more you'll have a better answer if you're thinking about selling or purchasing a home in the near future. So here are the stats for October for Southern Nevada. And keep in mind that these stats are for resale homes not for new construction homes, however, will give you a very good idea of the current market for Southern Nevada each month and this is all for October. So number one, the number of single family homes that sold in October was 1699.
The median sold price of a single family home in October was 449,000. There were 2332 new listings and October and $472,103 was the median list price for new listings and knocked over
524,990 was the median list price of all listings new and not new on the market in October, excluding homes with offers and get this there is approximately two and a half months worth of single family. home inventory. That is actually when you do the math that's not a lot of homes. A number seven there were 474 condo we're switching to the condos now 474 condo townhomes that sold in October, and there were 755 new condo townhome listings Now there were 1195 condo, townhouse is new and not new on the market, excluding offers and October $275,500 was the median price of a condo townhome sold in October, and 279,900 was the median price of new condo townhome listings in October. And $280,000 is the median listing price of all condo townhomes, both new on the market and not new on the market combined. And October. And get this there was also the same two and a half months worth of inventory for condos and townhomes in October. And this is very interesting. 67.2% of all single family homes in October, went from available to under contract with the buyer in 30 days or less. And 66.2% of all condo tone townhomes went from available to under contract with the buyer in 30 days or less. So things are still moving, maybe not at the Quick, quick pace. But that's way over, you know, 50%, so things are still moving. And you know what I would like to say Happy Thanksgiving also to all my listeners in advance. There are so many things to be grateful for, such as outstanding friends and family that have been there for me, not in the good times, but in the bad times too. And these are individuals that truly care about me and my well being and I also care about them and their well being also. And you know, it's going around Thanksgiving, and I'm getting a little sentimental, but I just want to let the audience know, these are friends and family that actually do what they say, say what they mean. And I am so grateful for them. And I feel very blessed to have the loyal listeners also from my show, and all of my past and present clients throughout the years from my show. And also from my live spot real estate advertising that I do every third Thursday of the month, around 1:25pm. Although it can vary a little bit with the time and if you if any of you would be interested in my live spot time for December or the following months, you can call me for the correct time because it can vary a little bit. And I am also just thankful for all my past and present clients in general. Because without all of you that have given me business throughout the years, I would not have been able to have this thriving career that I love. So very much. So I want to just you know, thank each and every one of you that have helped me to keep my business strong. And in general, you know, we all have to be so thankful for what we do have and see the glass half full and try to see the positive around us it could always be worse someone always has it worse than someone else. And just want to let you know that I appreciate my clients so much I've seen so much over the my course of all these years, starting in 1991. I've seen quite a quite a bit of change in the real estate market. I've seen the ups the downs, the crash, the comebacks and I can't forget that pandemic when everyone thought that you know prices were going to plunge and they did the absolute opposite. You had people during the pandemic that were trying to bust out to get a bigger place because they were stuck at home working at home permanently or semi permanently at the time. People wanted to move up move from apartments into homes, condos in the homes bigger homes because they were at home 24/7 with family and they needed that extra workspace. And you know you had people that could move anywhere in the world because their employer was saying they could live anywhere and work permanently at home. So you had people taking advantage of the many tax benefits that a place like Nevada has, and moving to places like Nevada. And, you know, it did just the opposite of what a lot of us in the real estate injury industry thought it would. And you know, we are in an interesting market now, where prices are a bit higher. Interest rates are a bit higher. We don't know when that changes. But what I do know is that, you know, you can never get back time, time is a precious thing. And that's not just because I'm trying to sell you something. Time is precious life is short, if buying or selling a home is a desire, if this is like on one of your To Do lists, and you would like to take advantage and just see what all your options are. Because being in this business all these years, I'm very good at listening to what you're saying, and trying to focus on your wants and needs as being a real estate professional. And if you'd like to make that one on one appointment, we can see what type of a time we're, we're in right now for you and your specific need. Everybody has a different path, everyone. You know, you might be listening to family and friends saying, Oh, it's a horrible time. But it just depends on your circumstance. Now, I do have lenders for all occasions, if you feel that your credit is outstanding, great, and you have the income great and low debt to income ratio is great. But you know, even if you don't have all that going, I'm here for you. I have lenders that are very competent, that can talk to you one on one, it's all very confidential. And they can you know, it's not obligation to do anything, but at least you kind of know where you stand and checkup because you know, what you hear on the news, what do you hear about real estate these days? It's not for every town. It's not for every city. It's not for every state, every area of the United States is a little bit different. Some places are very stagnant, things don't go up or down. They kind of stay kind of leveled. Some places have gone up like we've appreciate it pretty quickly. But you know, real estate will always be something that you can leave sincerely leave to your family. You know, it can build generational wealth, it can offer you retirement benefits because now you could have rental property. You know, you can have equity build up in a home or two that you've rented, decide to sell and live off of that. And it doesn't matter what the market does, it could go up down sideways, but it's tangible, much more tangible. Than let's say stock markets you can touch it feel it. So many things you can do with it. And you know I just want to encourage you not because this is my livelihood but and I will let you know we can make an appointment you can call me after the show or during you know after the show and we can see you know what is a good time for us to get together. Explore all your options and what I can't share with you four options maybe it's financial put you in touch with the right lender if you're trying to purchase and if you're trying to settle I don't know what information you get off the news I don't watch the news every day because a lot of it does not have to do with here I do watch the world news but there is a everyone's situation can be a little different from another I can tell you this we have low inventory right now. So if you're a seller out there, it is a good time to buy I mean excuse me to sell not to buy it's a good time to sell if you're a buyer, it can be a good time to buy especially around the holidays because as a buyer like I said earlier, you have far less competition with other buyers, you know buyers right now. They might say oh I'll wait to January 1 Or I'll wait till next year because they're consumed with getting ready for family. Holidays buying presents they have no money left for for purchasing a home. And so if this is your if this is your main focus, it can be really good because now you're not competing with other other buyers right now. If you are a purchaser and for being a seller, because sellers are going to start some of them are going to start taking their home off the market instead of putting them on the market. The closer we get toward the holidays. It's opportunity time because you're not dealing with the what I call looky Loos, the flaky ones that are like show me Tell me but they don't really plan on purchasing but they want to walk through your home, you know, just to get an idea you're not really getting those kinds of buyers, the flaky ones that are not prepared, not willing to do it. Just want to see what they can get right now. You're looking at buyers, if you're a seller, you're looking at buyers that are really super serious. Maybe they have a job transfer, they have to get the kids in school. You know, there's different scenarios like that. So, you know, yeah, this could be a very good time for you people taking their home off the market as a seller, you put your home on the market. And it is fewer buyers, yes. But the buyers that are walking through your home, they're going to buy, they're going to buy something if it's not yours. They're serious. They're out there, looking continuously until they get something there focus not on the holidays. Number one, but getting into a home as a number one thing. So I'm an open book. Like I said, I've been doing this so long, there's not anything that can shock me as far as someone's situation. You'd be surprised that situations that can be turned around if you're a buyer or seller. And thank you guys so much for listening to my show this morning. Happy Thanksgiving to all of you and I look forward to having you listen to my show next month in December. And I am regatta kumin. Henry with Coldwell Banker Premier Realty, your host for the Southern Nevada real estate show that airs every third Sunday of the month at 8:30am. My number is 702-596-1267 that 702-596-1267 And my license number is BS 2780. Thank you so much again for listening to my show this morning. And I wish everyone listening. A great Sunday and a great week
Transcribed by https://otter.ai