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  
Well, hello, hello, Las Vegas. It's Monique Buchanan, and this is the Monique Buchanan show. Here we talk all things real estate, wealth and home ownership, and we make it simple. Today, I've got none other than ms Becky with me. Hi, Becky. Hey, MO. I also have none other than the infamous Mr. Well, I call him tone, but Mr. Valentino, are you there? How you doing? Tone? Aloha, Monique, nice to have you both on the show. Like always, my crew, my team, I like to call it the dream team, right? That's right. I look at it. Well, there's a lot going on in the market, and so today we're just going to have a candid conversation. Hopefully we're hitting some of the points that you know that are on your guys's minds out there. You know what I mean, people that are thinking about, or were thinking about investing for 2026 or were thinking about, you know, purchasing a property, or, you know, upscaling or downsizing, selling their home. So we're going to try to hit as many of those you know thoughts that maybe are going through your head right now that we can so we're just gonna have a candid conversation with none other than Mr. Valentino, who definitely has his finger on the pulse. Anthony. Anthony, Anthony, weren't we just at five and a quarter with rates, sir?

Anthony Valentino  2:01  
Oh man, we were having a beautiful dance with a beautiful dance partner called five and a half percent rate. And they were flashing 5.25 every now and then and then it

Monique Buchanan  2:17  
just dance with her. Completely changed. Anthony, I want to dance with her. I want to put you, you know, I want to pull that trigger and get that refinance happening. And like we've been promising our clients, you know, this was unforeseen. Who, you know, a war, right? Like, what? Because, if you know, before that, we were heading down, we were we

Becky Coins  2:41  
were there. We were cruising in the right direction.

Monique Buchanan  2:43  
We were cruising, you know, with our arm out the window, you know, with the candy paint right towards 5% or even a 4.75 when all of a sudden, you know, this has happened, and now you're saying that we're gonna have to wait longer for that refi, because now they're talking about the rates are going to go up again. Is that right? Yeah.

Anthony Valentino  3:05  
I mean, they are going up on a daily minute basis. And so no one had on their bingo card that we were going to do what we did, which is about three weeks ago, which, you know, for the viewers, you know around, you know, march 2 is when we started seeing this nose dive, or in this case, you know, an upswing in the rate, and it's all because of oil and volatility. And it's two things, but basically, you know, the market has to see in front of itself in order to price, and if it can't price, then it can't see so it prices on the defense. So yes, we've seen oil peak at this point, but they could quantify it. Whereas this go around, they don't know what's up or down, and they don't know what's going to happen the next minute versus the next week or the next month. So they price on the defense. And then on top of that, you know, oil, it has inflation fears, because we need oil for everything, for transportation, for food, for, you know, manufacturing and so if oil homes,

Monique Buchanan  4:12  
to build homes. So, so what does that mean? Anthony, what does that mean?

Becky Coins  4:16  
What does that mean for the average person? Yeah.

Monique Buchanan  4:19  
What does that mean for somebody that wants to wants to still buy, yeah,

Anthony Valentino  4:23  
you cannot time the market, but you can time the amount of time you're in the market. So what I mean by that is, if you time the market, then that means you do not own a home and you're waiting to whereas time in the market means you own the home and you're in the market, and we make it historically, right? You look at historically the math, you're going to be better off being in the market than time in market, because there's so many other numbers to home ownership.

Monique Buchanan  4:55  
Think about all those people that are still waiting for the big crash to happen. Right? Right? All these people for, man, I've been hearing about this crash for at least seven of seven years, you know. So think about the person that's still after seven years, they could have bought back. And, you know, seven years ago, they could have bought a nice house for $230,000

Becky Coins  5:16  
that way, five something by now, they were listening

Monique Buchanan  5:19  
to everybody saying there was a crash coming, and so they didn't buy and now that same house is going to be, even with it down a little bit because of the rates, it's still at 430

Anthony Valentino  5:30  
So understand, Vegas was one of the hardest hit in the 2007 eight. You know, members those times, and it's it was hard, but they have to understand that it we are not in 2007 where, you know, there was predatory lending and variable interest rates, rates and balloon pricing and people were under water, whereas now people are in sick positions and people own their house without right, and the others have, you know, 4% are Under rates and they have 200% equity. We are not in our parents. There's no need.

Monique Buchanan  6:05  
In other words, what you're saying is, back then, people were losing their homes. They couldn't hold on to them. But why would anybody lose their home when they're either owning it outright or they are sitting on 150,000

Becky Coins  6:16  
have to say is even back then might if you take away the predatory lending, where those mortgage payments jumped up out of nowhere. They were giving them all those crazy arm loans and all the other stuff that was going on because they couldn't really afford those payments, right? Do you know, I had a couple, not very many. I had a couple people that were friends of mine who bought their houses during that time, right? And let me tell you, they scraped tooth and nail to make sure that they held on to that property. They never let their properties go. So even though the market took a dive, their properties are already way back, more than what it was even then. Because what do you mean by way back the value, the value of that property? So whatever they bought that property for, back then, it might have been 300 not even 400 you know what I mean, because the market wasn't like it is now. So back then, even that $300,000 home is, it's been so long,

Anthony Valentino  7:05  
you're saying is, yeah, what you're saying is, and this is statistically, when you look back, since 1932 there's only been four times home prices went down in value to those times were during the housing crisis, in 2007 error, and then the other two are in the 70s. So there's not a lot of times we can pinpoint where prices go down. In fact, it follows the currency. And we're gonna have, you know, until we go to, you know, crypto and stable coin in the next, you know, decade, these next 10 years, we're gonna see nothing but increases in this physical asset we call real estate, right,

Monique Buchanan  7:40  
right, right. I, you know, sometimes I feel like they're trying to make everybody renters. They want us all to be renters. Like, you know, yeah, I don't know. It just and here's the thing, so many people think that's their only option, is to rent. They count

Becky Coins  7:56  
themselves over and over again. How many of our clients have come to us over and over? I was told, No, I didn't think I could do it. I didn't know, yeah. And then when we finally have that conversation and bust that myth wide open, that you can, it is attainable for you, you just think it you can't.

Monique Buchanan  8:11  
You're counting yourself out. Like, Anthony, today, I put you on the phone with a traveling nurse, kind of talk a little bit about that. Like I met this lady right before I did the show today, and she said, you know, Monique, I just, I feel defeated. I just after the last time I tried, she tried back in 2019 when it was she was getting outbid, it was a feeding frenzy. Like, like, what we said is gonna happen again when the rates drop? Well, the rates were low, and she kept getting outbid, although she had the stellar credit, although she had money saved up, she could not get a house because she kept getting outbid. So she does. She said also that Anthony, she was saying that there was something to do with the way she makes money as a traveling nurse, that a lot of the lenders didn't want to deal with her, or didn't know how to deal with her. Can you speak on that a little bit for my traveling nurses or medical people out there?

Anthony Valentino  8:59  
Yeah, the low hanging fruit is gone, you know, the covid era where everything was like, beautiful, you know. And most people are in the position of that traveling nurse, where, whether they're, you know, tipped income, especially in Vegas, or variable. In her case, you know, she was traveling. So she gets a stipend with traveling and and lodging. And there's a lot of data points on our pay stub. So when you know an average Joe looks at it, they're gonna go, I don't know how to calculate this. That's why it's so important that before you start shopping, before you start getting in love, emotionally with houses, get fully approved, not just pre approved, I'm talking you have a blank check. So make sure your lender is sending your income, your assets, your employment, to the underwriter before you start shopping. So that way they get it certified. That way there's no guessing, and you are confident. And so that's why I told her I'm like, All I need is your last 2w twos, your last pay stub for 24 and 25 to see the line items. That's how I can do a. Manual verification of employment and your latest two pay stubs. And I told her, in 24 hours, I can send that to the underwriter, get a certified so now she's confident that we can use the income and we're not going to change it on her last minute. Well, you know what it

Monique Buchanan  10:13  
comes down to is having the right team in place, you know, the right lender, the right agent, the right guidance. If you don't have that you could get shut down left and right, and it's not necessarily due to you. Yeah, it's due to something maybe they don't understand or know, so they just shy away from it. They're just people too. You know what I mean? So be when you have the right people that are working for you. That's how you get keys in your hands, guys. That's why we say it's only a five minute conversation, if you're you know, having having any thoughts about what we're talking about, or you're wondering, or you have any questions, 7029, 84, 3700, it's a quick conversation. I can get you in the hands of Anthony. He can break down everything for you get a game plan, even if you think to yourself, Oh, I'm not ready. A lot of people think they're not ready. They actually end up getting approved by Anthony and his team. Oh, yeah. They're always,

Becky Coins  11:01  
y'all are like, Hey, I'm gonna go talk and see where I am, because I'm looking in six months from, I think by six months or two years

Monique Buchanan  11:07  
from now, and then we're like, no, Anthony's, nah, they're approved today, Monique. I'm like, up guys, you're approved. What? Yeah, we

Becky Coins  11:12  
get that phone call, and they're like, What are you talking about? 702984?

Monique Buchanan  11:17  
3700, if you're just tuning in, this is the Monique Buchanan show, and you can reach me. I also at IG at realtor, Monique Buchanan. I'm on all podcast platforms and YouTube, the Monique Buchanan show. We're talking to Mr. Valentino with guaranteed rate. Jump back into it again. So we're just talking about how you're able to get past those situations where people have, you know, different ways of getting paid that a lot of lenders will shy away from, because it's not just easy, clean cut. Here you go, boom, boom, bam. You're able to look at it all, put it all together, because I've seen you do it. She's not the first traveling nurse that we've had. You know, that they had, you know, issues with being approved because of the way they're paid. Anthony, I've seen him pull rabbits out the hat. And I'm like, Okay, I took this girl came from two other lenders that told her, No, Anthony. Anthony's like, it hold my beer, and he gets it done. That's right. So, so you were able to talk to her about,

Anthony Valentino  12:16  
yeah, and it's and I'm not doing anything different than what other people can do. The difference is, the first thing we need to understand with our clients is, what is your story? What are you trying to do here? You know, what is your master plan and then reverse engineering it? I hate when you know the 1000 loan officers that I oversee across the US. I tell them, You better be talking with your clients, and not to your clients, because if you are talking to them, then you're not showing them all options. And so that's the first thing. When I talk to clients, they're focusing on things that really aren't aren't mattering, you know? And so that's where I come and I kind of dispel everything that their friends or family or social media have told them to where, oh, I can't buy a house because I don't have money, well, down payment assistance, well, I can't buy a house because I don't have good credit. Well, we have people that can fix that quickly. Oh, well, I don't know if I make enough money. Well, we can do co signers, or I'd have you walk into your boss's office and get a get a raise. This is how you're going to do it. There is no obstacle that we can overcome. Its problem is people are used to chasing yeses in life and not nose because they're afraid of let down. I'm telling people, don't be afraid to get let down, because that's where lessons are learned, and especially in home ownership, you have to ask the questions in order to understand where the

Monique Buchanan  13:34  
solutions lie. You guys will be shocked at how many of our clients Anthony has gotten a raise for Oh, my tone, not only did you get in the house, we got in the house, but you got him a raise.

Anthony Valentino  13:47  
That's my favorite question. Mo, like, when I talk to my clients and I go, Hey, I see you've been working here for about four years. When's the last time you got a raise? And they're like, I don't know. I don't I don't think I've ever got one. I'm like, Okay, you got 15 minutes for me. And I'm like, Okay, this is what we're gonna do. And I would say I'm batting like 70% like, I tell them, I get them confident. I tell them they're worth it. They need to go in there. Their time is worth money, and they're exchanging their time, and it needs to be more money. And rather than having to get a co sign or having to wait a couple years, we make that happen instantly. You know, they go in there and they get it, and now they're shopping for a home, because they made it happen. This is what I'm talking about, removing obstacles.

Monique Buchanan  14:30  
You ask, not you have not, right?

Becky Coins  14:33  
Yeah. Well, can I say again? This is why I love this team, yeah, this is why I love working with you guys, because this is just insane. What we've accomplished? Yeah?

Monique Buchanan  14:43  
Well, when you you know you're not just doing checking the boxes and shuffling people through, you're actually like Anthony, listening to them, yeah, you know, sitting them down and saying, Okay, why

Becky Coins  14:54  
do you want the home? That's why they become clients for life.

Wesley Knight  14:57  
Yes, Monique Buchanan has served the Q. 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.

Becky Coins  15:22  
So Anthony, I know that you have something going on. We talk about different programs that we have, but I know you've got something with physicians loans.

Anthony Valentino  15:30  
Yes, you know, a lot of physicians, you know, they basically spend half a third of their life in college, you know, 1012, years. And typically we'll see, you know, six, seven figures in, in in, in student loans. And a lot of times, you know, if you count that into their debt to income ratio, it's, it's a deal killer, physician loans. They don't, they don't hit them with it in their debt to income ratio. And on top of that, they allow 100% loan to value. What does that translate to? Nothing down so they've been spending all their time having to fix people and having to, you know, hone their craft. They probably don't have a lot of money for a down payment. So just like a VA loan or Down Payment Assistance Doctor loans or physician loans, or, you know, professional, you know, loans, we have 100% financing

Becky Coins  16:23  
for that, right? So I know out here, like we've been doing a real big thing in Nevada, like trying to court more medical professionals out here. So does that that physician loans? That's not just for a doctor, that's nurse practitioners, medical residents? Is that?

Anthony Valentino  16:37  
Right? Yeah. In fact, I know that Henderson is building a brand new veterinarian school out there, and for veterinarians, which is going to be massive. So my twin daughters, who are currently at u h minus, studying for animal science, they may be headed back to Vegas for schooling for four years. So Mo, they may need to stay with you. Let you know that, but yeah for everything.

Monique Buchanan  17:03  
Yeah, this is for veterans. Are included veterans, veterinarians are included too,

Anthony Valentino  17:10  
absolutely, if you're a doctor in medicine, whether it's an animal, whether it's human or, you know, whatever you know, even you know, nurse practitioners would have a PhD or psychology, you know, anything that has to do with with Doctor degrees? That's where this comes in.

Monique Buchanan  17:30  
And I want you guys to know also that we us as a team. Me. Anthony Becky, we can, we can help you in all 50 states, including or using our physicians loan. Okay, so we can use this loan in all 50 states. Anthony is able in to assist you as well in all 50 states. So we are all 50 states. Yeah, this is not just Las Vegas. This is not just Nevada. So if you are hearing this and you're thinking, oh, man, you know what my cousin in Florida? Man, I wish this was Well, guess what it is. We can help your cousin in Florida. We can help your cousin in Idaho, wherever they're at in the beautiful American states, okay? And if you're just tuning in again, 7029 84, 3700, at realtor, Monique Buchanan, that's B, U, C, H, A, n, a n, that's IG for you. And 702 94 3700, so guys, we're, we're dropping nuggets, you know? Because, hey, you guys, know I keep it real. I told sellers not to sell. Okay, I Yes, I'm a realtor. That's what I do for a living. But I also keep it 100 with you. If it's not a good time, I'm gonna let you know it's not a good time. I told sellers, what? Three, four months ago was not a good time to sell, because I was being honest, most of my sellers were putting out 1000s and 1000s in closing costs to the buyers, and now that the rates have went up, guess what? We're right back at it, but it's not quite as bad. I don't think, because buyers are starting to just accept the fact that the rates are a bit high. But guess what, Anthony, don't we have that program still going that basically buys you time. I bought mine three years. So we have the 321, buy down that they can use as well, which basically is like a big piggy bank hanging over your house that you reach up and grab 500 $600 every month for the first three years to help pay your mortgage. So you can wait for these rates and these oil prices to go down

Becky Coins  19:29  
and afford your home on the roller coaster.

Monique Buchanan  19:31  
Right? Tone, yeah, yeah.

Anthony Valentino  19:33  
I mean, that's 100% it's called the temporary buy down, and it just follows math. Because, you know, we as lenders, are ones who are worth their their weight in salt. We look at it and go, Okay, how much are we paying to buy down the rate? And how much are you saving per month? And then, what's your break even? So, if you're paying $10,000 to buy your rate down a quarter percent to save 150 bucks a month, you're gonna have to, you know, save 150 bucks a month. For 10 years to break even. That's not going to make sense. So this buy down program allows you to push all of the savings into the front of the loan the first two years. So instead of a quarter percent drop, you're dropping your interest rate by 2% the first year. You can even do 3% the first year. So if the rates are at, you know, say, 6.875 you can go down to 3.875 for the first year. Now, you're able to buy the house now with a rate we're going to see in three years that is working smart, and that's not working out of fear.

Monique Buchanan  20:30  
And a lot of times right now, and I say right now again, until these rates drop, I'm able to, and Becky's able to negotiate that cost of paying for that you won't pay for that buy down. We're gonna get the money from the seller to pay from that buy down. We're gonna ask Mr. Seller, hey, you know the rates are high. Mr. Seller, it's not a, you know, it's not a secret. Buyer needs a little closing cost to pay for this rate buy down. And guess what? Most sellers are like, we totally get it. Here you go. You know what I mean? Buy our house. We'll pay for your rate buy down. Now, Anthony, since we're talking about that, we got about 10 minutes left of this show, I want you to go ahead and talk about these new homes and what's going on. Now, you know, with the new homes, with everything that's going on, they're throwing out these incentives, but a lot of it's smoke and mirrors. And my poor listeners, they're just like, you know, hey, we don't know that. All we hear is, you're buying us down. You're doing this. Yeah, 3.99

Becky Coins  21:23  
and we're gonna give you

Anthony Valentino  21:24  
all of this. Get a lot of new builds. I make a lot of new builds be be up. We love you new bills,

Monique Buchanan  21:30  
but we got to be real. We keep it real on this show, new build. So forgive us, but we got to keep it 100

Anthony Valentino  21:36  
shut your radio off. New build. Hard to hear. Okay. Turn to another station for only about two minutes, and then turn back.

Monique Buchanan  21:44  
So I walk in with my clients, and they say they have the new builder agent, because those are not representing the buyer. So guys, when you walk in these new builds, they don't represent you. So anyways, they walk in and the first thing they say to them, we're buying your rate down to 3% what do you say, Anthony?

Anthony Valentino  22:00  
What they need to say is the the buyer themselves is buying their rate down through an inflated price that they've negotiated behind the scenes. So yes, they're showing a shiny 4% rate, but that $20,000 that they needed to buy down that rate is going to be put into the price of the house. So in three years, when you go to refinance, you're going to go, well, that shiny rate that I got, one I'm going to refinance for sure, if I'm putting less than 20% down because I don't want mortgage insurance forever. And two, when the rates finally subside, you're going to find out that your value was over inflated. And yes, when the appraisal was done. It was based off of new build, but as soon as you moved your Tupperware in, now it's a resale and on top of that, you have all of that cost pushed in, and you're going to run into an issue called loan to value, meaning, when you try to refi, that shiny rate is now costing you to be able to refi better or take off mortgage insurance. So what looked good in the short term is ugly and the long term, and now people are starting to pick up and realize that. So what I tell my clients most quick,

Monique Buchanan  23:11  
let me give one more example, tone, one more example, not just refi. I've had clients call me that bought a year or two years ago, and they took the shiny rate and, like Anthony says, They rolled that into their price. So now, when we go to sell, they want to sell. Something's come up. They need to move. They want to sell. You know, they can't even afford to sell.

Becky Coins  23:33  
Is it similar to buying a brand new car?

Monique Buchanan  23:35  
It is similar to buying a brand that's what I'm hearing the shiny rate you want, you roll off the lot and it

Becky Coins  23:40  
depreciates, and it just, yeah, and that, I mean, that's what they always tell you. When you go by them,

Monique Buchanan  23:45  
they say, Oh, you could refinance. How am I going to refinance if I owe more than it's worth? Sir, right, right?

Anthony Valentino  23:52  
Yeah, the new builds, they don't just, you know, have a magic wand to say, hey, here's a 4% rate. There's a cost associated to that. So it's a smoke and mirrors, it's a slide of the hand. And that's why they don't like when buyers come in with representation, because they want to control the narrative, right? That's why they are trying to push them out. That's why they don't want you to have representation. They don't want you to use their lender. They don't want you to use their title rep. They want to use everyone who understands who understands the message. And so I just encourage people

Monique Buchanan  24:27  
walking in with a realtor who has the title right, who has the lender,

Anthony Valentino  24:32  
no, because your fiduciary obligation is to them. And so when you go in there again, you know the days of the new builds going take it or leave it are gone. I remember those days when they were just like, This is what it is. We ain't paying your realtor if you want this. Go pound sand. That is not the case anymore. They have so much inventory right now, they are chomping at the bit. And so you go in there and you don't negotiate the rate, you negotiate the purchase price. Why? Because the rate is temporary, but the purchase price. Price is forever. So if you negotiate the forever, the temporary can come and go. That is the key here. So when you go in there go, I don't want to, if anything, here's the secret. I would like to know how much it's costing the builder for that rate. I want to see the quote, MSRP of building sheet, and they're gonna go, well, it's gonna, you know, we're given like 15 grand here, 20 grand, great. We don't want that on the rate. We want to reduce the purchase price. Thank you. And they're gonna go, I don't think we can do that. No, you can do that. You just need a manager. I have had builders do that, but they're gonna put up a fight until you say it's non negotiable. But that's

Monique Buchanan  25:41  
but that's when you have your team of your realtor. So if you go in there, the fight is going to be harder, but if you go in there with people that are speaking the same language as them, know what they can

Becky Coins  25:51  
and can't do and representing you and

Monique Buchanan  25:52  
representing you, then that's how you get past this.

Anthony Valentino  25:58  
Yes, yeah, 100% you do not want to buy sticker price right now with builders, because there's so much inflated cost. And if they're trying to do, hey, look at this rate, just if you're putting 20% down, and then it's going to make sense for you if you get a low rate, because you know 510 years, you know you're going to make it up. But if you're not putting 20% down, and you don't know if you're going to be in that house for more than five or 10 years. You're not doing the most economical, you know,

Monique Buchanan  26:26  
action, right, right, right. So that's the thing, guys. Just remember, when you walk into these homes, you need representation. You need somebody that's going to know how to fight for you make sure that you get the best deal possible. Sure if you bought a house before, once you walked in and it all worked out, good for you. I'm not saying it can't happen. It's just if something happens, you need representation. You need somebody to have your back. You don't want to have to be fighting a big company by yourself without any representation. So anyways, Anthony, you're always dropping the nuggets. Brother, I appreciate you coming on, enlightening us on what exactly is going on in our very entertaining world right now.

Becky Coins  27:08  
So definitely not dull.

Monique Buchanan  27:10  
No, it's not dull. I love that. You always keep the high road. You always keep it positive. You know, it's what we're trying to do over here. But yeah, but thank you for just letting us know what's going on with the rates and everything. So just remember, if you have a Land Rover, you definitely shouldn't have a landlord. Is that right?

Becky Coins  27:26  
Ben, absolutely. And I keep saying, you know, when things are going crazy right now and people might be a little nervous, I always say that the most important thing that you can do is to own the roof over your head.

Monique Buchanan  27:38  
Yes, absolutely, with all the shenanigans, what you got?

Anthony Valentino  27:44  
So I think here's the big here's the big shift that people need to have in a 32nd snippet, right now, you know, people trying to buy you just were born 10 years too late. I'm sorry you were born 10 years too late. You know, the birds and the bees didn't happen when you did. That's why your parents were able to buy houses cheaply, and you're not able to. But here's the difference, you have to change your lifestyle right now, cohabitation, living with generational people is going to get you the house people who want to not do, you know, house hacking, cohabitation or change their lifestyle you are up against, you know, a crossroads. Do you continue to fuel your lifestyle? Or do you continue you start fueling your fueling your future? The lifestyle can be temporary. Your future is

Monique Buchanan  28:39  
forever, all right, so I do want to say congratulations to one of my favorite couples in the world, the Brewsters. They run, or they Yeah, they do. They run the Roseman Medical University. Yeah, we have them on the show. They're amazing. So we just sold their property over there in Spanish trails, and we sold it in four days with that new optimization I've been using on Zillow, have a wonderful weekend. Thanks. Tone. 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. You.

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