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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.
Announcer 0:00
This is a K-Unb Studios original program. The
Wesley Knight 0:04
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, the
Monique Buchanan 0:40
Good morning, and welcome to the Welcome Home with Monique show, right here on K U M B 91.5 jazz and more. I am Monique Buchanan with Realty, no, not with Realty, we with Exp Realty, and today we're talking about something that I know is on a lot of people's minds, right, with everything going on in the world right now, from inflation to high interest rates to uncertainty, we see it on the news every day. Many people are wondering, is now a really good time to buy? So that's what we're gonna tackle today. But before we do, we wanna give a shout out to all of our fathers out there. Hey, we love you guys, whether you're a stepfather, adopted father, a play father down the street that's taking a child in, that maybe the dad has to work a lot. Listen, we appreciate you, we love you, we see you. And I want to say, me and Becky, thank you, thank you so much for taking that time that you could be spending doing whatever you want to do, and you're blessing a child, and thank you to all the great fathers out there that are holding it down for their kids, so we love you. Happy Father's Day, everybody. And, of course, happy Juneteenth as well. Right, the true Independence Day, where all Americans were actually free. So, I love you guys, celebrating Juneteenth out there. Love you guys, and we're gonna go ahead and jump into the show. So, like I said, maybe you've been seeing the side, the headlines, you know? Maybe you're worried about your credit, student loans, your job, or whether the prices are going to come down or not. You know, a lot of people have those little rumors, oh, it's gonna be 2008 again, which, no, there's nothing that says it's gonna be that. But hey, maybe that's something you're thinking about. So, today we're going to tackle some of the biggest fears and misconceptions that are keeping people from becoming homeowners, right? So, joining me, as always, is my amazing real estate partner, Miss Becky. And to get today, we're going to answer those questions for you guys. We're here, we're hearing these questions every day, right, from buyers. So, we thought, you know, let's do a back and forth question and answer kind of thing, so hopefully we touch on something that maybe you've been thinking about, right? Beck, good morning. Good morning.
Becky Coins 2:51
Yes, I'm so happy to be here, as always.
Monique Buchanan 2:53
Always, what did you get, Chris, for Father's Day?
Becky Coins 2:57
You're gonna laugh, but I have been influenced, folks. I have been influenced online with little dinky stuff sometimes, and Chris loves, you know, music and things like that. I got him, they had this little symbol that you attach on the when you're driving down the street on your truck, so when he's jamming out, he can just like tap the cymbals and play his drums. It's a good
Monique Buchanan 3:18
idea, because he is a drum player.
Becky Coins 3:20
Yes, he loves his guitars and his drums. I love
Monique Buchanan 3:23
Chris, I call him Christopher Wobbins, that's my Christopher Wobbens. I love him. Well, me and the girls got my husband, you know, he loves the fish. We got him some cheesy T-shirts, you know, one's pretty funny, one says everybody loves a good pole dance, but it has a fish on the end of the ball. Love it, love it. Then, you know he plays basketball in the leagues over at TARC, so we got him a new basketball backpack, and that's that's pretty much it. Pat on the back, and I think the girls are, we're going to Utah this weekend to go out to Sand Hollow, but the girls were renting a big old knock hotel, a big house, and we're all splitting the costs like four couples, and the kids are all coming with us, and they're making the daddy's breakfast, and of course, my little daddy with his little peanut head is coming.
Becky Coins 4:08
Gotta get daddy out there. Yeah, we're just gonna do pedicures and a massage this weekend for him as well. Yeah, that's a
Monique Buchanan 4:15
good gift for men. They don't do it often, a lot of men don't, but even my dad, me and my dad, go get our nails done, we get pedicures together, and then he gets a manicure, and he always talks about it. Just makes his feet, says it makes his feet feel like they can breathe. Yeah, right.
Becky Coins 4:29
Gotta take care of them feet.
Monique Buchanan 4:30
So, we love you guys, however you're spending your Father's Day, and recognizing Juneteenth, you know, that was Friday, and so we want to, you know, pay honor and tribute to that holiday as well is so important. I'm so glad that people are starting to learn exactly what that is, and if you don't know, that is when actually the Texas slaves found out that they were no longer slaves, but had already been a couple years that they were actually free. Yep, they didn't even know. Isn't that terrible, but. Right,
Becky Coins 5:00
history,
Monique Buchanan 5:00
history, history matters, you guys. History matters. So, it's important to know it. But, anyways, all right, Beck. So, here's our first question. Okay, so with everything going on the world, some people feel like maybe they should just wait. So, why are people still buying homes then? Becky, some talking points for us to talk about are people still need a place to live, regardless what happens in this world, and I don't know about you, but I've heard you say it, actually, a couple times, with the war, with all this uncertainty. The one thing I do want to be certain of, the roof over my head, is where I'm laying my head, me and my children are laying our heads. I want to know that that's locked in. So, quick fun fact, or not fun fact, forgive me, not a fun fact. Yeah, um, but a quick story. This just happened last week. My friend, who's a neighbor of mine, she texts me, Monique, my owner, is selling the property. How often do we get that text? She has been there eight years. She's been my neighbor, my neighbor for.. well, she's only been my neighbor two years, but she's been my friend for probably about six or seven, and she would always tell me, because, of course, I was in her ear, you guys. Hey, so luckily she did go ahead and start putting her tips into the bank account, which is great, but right now she's gonna need a year to save up a little bit of money for down payment, so she's got to get a rental, but that's the good news, is that she, she did, you know, start making those steps towards home ownership, so I'm gonna stick with her, of course, get her into a rental for a year, and then we'll go ahead and buy, but guys, this is happening everywhere. A lot of people are offloading right now. I've got about seven listings, right, and that's because a lot of people are trying to become, they're liquidating, right, they're trying to get cash heavy right now, in a time, you know what I mean? Yeah, to make sure they've got that accessible to them. So, there's a lot of listings popping on the market, which is great for our buyers. Yeah, because now buyers are being picky, and they have the right to be. It's true, they can be picky. So, a mortgage payment is often more predictable than rent increases or being told that you have 30 days to move out because they're selling the property. So, that's another reason to buy. Okay, home ownership provides stability and control. Many buyers are prioritizing security, knowing where they're going to be able to lay their heads with their families for the next 30 years, right. So, one thing I want to hear, or I'm sorry, one thing that I do hear is I'm waiting for these interest rates to come down. So, what do you say to those people when they say I'm waiting for the interest rates to come down.
Becky Coins 7:23
Well, obviously, you know, case in point, we always kind of go, you can refinance later. So, you know, I know a lot of people, they, that cheesy line, date the rate, carry the house, you know, it's cheesy, but it's true. But there's a lot, there's a lot that can be done with that, right? And it does offer a lot of options for people right now, and we've talked about before, when you know the rates are high, you have less competition. Once that comes down, you're fighting for that house, you're gonna pay more,
Monique Buchanan 7:49
you're gonna waive appraisals, you're gonna overpay for the house, you're gonna, you know, turn yourself into a pretzel, because you've got 10 other people that want you the house that you and your wife want, or you and your significant other, whatever. Yeah,
Becky Coins 8:00
you can't always buy the same house later. You find that house now, you're waiting around, sitting on the sidelines, waiting for that rate to drop. That house is gone. Somebody else came in.
Monique Buchanan 8:09
So, my buyers right now are just purchasing and just planning to refi down the road, but at least they're getting the house that they want, and they get to be choosy right now. And, like, we've always said, you guys, for the last year and a half, two years, we've been getting, you know, amazing amounts from sellers. We're closing Monday. That client, I got another $10,000 for. He's like, oh, Monique, they sent me wiring instructions, and this is a chief firefighter from Creech, you're from Virginia. Yeah, he's so sweet. And he goes, 'Mom, they sent me wiring instructions, and I go, guess what, you have nothing to wire, you know what, tell them to wire back your $4,000 that you put down on the house, we got that money for you, honey, that's right, and you should have seen the smile on his face, he's like, oh, I can use that money to buy new furniture, and I'm thinking about, he's thinking about getting a small pool put in the backyard, he told me he found a company that starts off at like 35,000 and only $400 a month payments for a small pool,
Becky Coins 9:05
nice. Yeah, so he's
Monique Buchanan 9:07
excited. Great home, we got him three story or three story, I'm sorry, three car garage, single story, and he's so excited. The only thing it was missing was a pool, and now even that's affordable.
Becky Coins 9:17
Oh, that's awesome. That is awesome.
Monique Buchanan 9:19
So, Becky, what about the people that have student loans, and they think, "Oh, I don't qualify anymore because I've got 100 150,000 in student loans.
Becky Coins 9:27
We've had several clients. It does not automatically disqualify you, believe me, believe me. No, it does not.
Monique Buchanan 9:34
And now they've changed the rules a couple years back, they changed the rules and the guidelines on that, so now it's really helping people qualify, so even if you got told no, you know, a couple years ago, you want to look back into it, because they've really loosened it, and try to help people become homeowners now that have high student debt. I mean, why are you punishing people that were doing the right thing, going and getting their education?
Becky Coins 9:57
That's just that kills me. It does, it does. Does, but I just, you know, when it comes to all of these that we're talking about today, this one particularly, but many of the myths that we talk about don't make assumptions. Yes, just talk it out. Can
Monique Buchanan 10:09
give us a phone call, and you can make sure before you go spending six, 710, 12,000 on a rental.
Becky Coins 10:16
Yeah, and don't nobody's gonna make you feel bad. Don't, don't ever think that. I know a lot of people kind of have that unsure, they're self-conscious, they're like, no, this really isn't for me. No, you really don't know that it really is for you, right?
Monique Buchanan 10:30
Right, and they're always so happy, thrilled, and shocked.
Becky Coins 10:33
Yeah,
Monique Buchanan 10:33
that is not as hard as they anticipated it to be. And don't let your assuming count you out,
Becky Coins 10:40
that's right,
Monique Buchanan 10:41
of being a homeowner, right.
Becky Coins 10:42
Absolutely. So, I got a question, Mo, what if someone has child support and they think home ownership is out of reach?
Monique Buchanan 10:49
Oh my goodness, that's, you know, that does not automatically prevent you from being approved. You guys, just so you know, okay? They're simply going to calculate that into your debt to income, and if you don't know what that means, is debt to income means what you got going out and what you got coming in. There's a ratio, right? So, there's many homeowners that successfully qualify, even with paying child support. All right, so every situation is different. All right, they got to take a look, figure it out for you, give you the road map. A lot of times, there's, you know, ways around that, or other, you know, subsidies that are coming in that can offset that, so just don't automatically think because you have child support and you're taking care of your baby that you can't buy home again. Don't assume, right? Don't assume. All right, I got one for you. Beck, I hear people say, "I don't have 20% down. You know, my parents told me that you have to put 20% down for your down payment, so is that still a requirement?
Becky Coins 11:37
Absolutely not. Right? No, no, ma'am, we are the queens of that not being a required that is right. So
Monique Buchanan 11:47
let's take a quick pause. If you're just tuning in, we are going over some of the thoughts that may be in some of our listeners' heads and in their family and friends' heads of why they're hesitant to buy a home right now, or they've always been hesitant because they believe these myths, or these are just concerns, you know. So, we're trying to bust up these myths, you know, put these concerns to bed and give you these answers that, hey, this is what it is with these situations. So, these things have come across our table, and that's what we're doing right now. I am Monique Buchanan, the host of the Monique Buchanan Show, with my partner Becky Coins, and we are real estate agents, not just here in Las Vegas, which this is our home in our valley. My voice is going out, but in all 50 states, you guys, we can assist, and in 24 countries. Shouts out to my daughter that lives in Albania. She is about to move away. She's trying to decide if she's gonna move to Morocco for three months.
Becky Coins 12:40
Oh, hey, right. Telling you, right? Girl, that girl,
Monique Buchanan 12:42
she's something else. Or she said, 'Mom, I might just go to Croatia. So we can help you in all, look, 24 countries. Okay? We mean it when we say it. You can reach my website at Welcome Home with monique.com Welcome home with monique.com Or IG is at Realtor Monique Buchanan, that's Monique, M O N I Q U E B U C H A N A N on I G. Welcome Home Show. Oh, there goes my voice again. Welcome Home Show, 91.5 at Gmail is my email. If you're more comfortable just emailing me, you can also text 702-984-3700 that is our phone number, 7029843 700 Guys, we're here to answer your questions and make you more knowledgeable on the biggest purchase you're going to make, more than likely, in your entire life.
Becky Coins 13:32
That's right,
Monique Buchanan 13:32
that's what we're here to do. Walk you through it, give you all options, make sure you understand every step of the way what you're doing, and your options, right? You're not in the dark, kind of feeling around. Oh, I hope this works. No, we don't want that. That's what we pride ourselves on. So, if that sounds like something you're interested in, 702 94 3700
Becky Coins 13:51
Yeah, so back to our 20% down situation. We have there's multiple options with an FHA loan. You can go in as little as three and a half percent down, and remember, when we're getting those closing costs on top of that, you know that's what you
Monique Buchanan 14:04
really bring into the table. Yeah, and that's you guys, just so you know, you're considered a first-time home buyer if you have been renting for the last three years and you don't currently have your name on anybody's property. Okay, so you have not had your name on any property as an owner, co-sign, or any of that for three years. Congratulations, under FHA guidelines, you are considered a first time home buyer, and you qualify exactly for what Miss Becky just said, 3.5% down, as well as our zero down programs, which we pride ourselves on, coming out of pocket with what for down payment,
Becky Coins 14:37
Monique Buchanan 14:38
right? And then, and then, what are we getting them in many cases, eight to $10,000 in closing costs, and we're talking everybody like 600,000 or less. We've been getting around that much. I go for way more if it's over that. Could you imagine,
Becky Coins 14:52
like some of these people that get, you know, hung up on this? I don't think I can do it. I gotta have this 20% down, and then to find out later that they can. Walk in for less than a security deposit on rental
Monique Buchanan 15:03
property, and it's so true, you guys. That's why you know that's the motivation, man. I just, we come here and we record this show, hoping that you know it will reach somebody, and then you know stop them from believing the lies in their head, and they'll go ahead and five minute conversation, 7029 84 3700 They will go ahead and say, let me call and get these answers, and let me just see before I put that rental app in. That's right, just a phone call. You could be sitting in your brand new home for Christmas, Halloween, and Thanksgiving because you took five minutes to find out and own that property instead of inviting family over to
Becky Coins 15:42
not worrying about the holes in the walls, you want to put your pictures up
Monique Buchanan 15:46
your rental, where you can't even paint your dog, you have to give your dog to your cousin because you can't take it. I mean, this is real, or
Becky Coins 15:54
you hide in the dog, we all know you hide in the dog lying about you having a dog. In fact,
Monique Buchanan 15:58
my client, well, my neighbor that I'm gonna help, she has two big dogs, and a lot of the rental people, the property managers are saying, "Hey, no dog over 55 pounds. Well, heck, she's got two big old dogs. Yeah, we want these folks with her kids to give up their dogs, but they do.
Becky Coins 16:14
I know it's sad. That's my babies. I couldn't do it. No, I
Monique Buchanan 16:17
couldn't do it either. I love my dogs,
Becky Coins 16:19
but I don't envy anybody that I have to make that decision with, what happens? Stuck, that's your second family option,
Monique Buchanan 16:24
right? You have no other option, because guess what happens when I click allows pets. Her her list of maybe 100 homes goes down to 40.
Becky Coins 16:32
Yeah, it's.. and now she's
Monique Buchanan 16:33
got it like Slim Pickens trying to figure out a house, because she's not a homeowner.
Becky Coins 16:37
Yeah,
Monique Buchanan 16:38
now a homeowner never has to worry about their,
Becky Coins 16:40
you're not telling me. I'll have my dog just fine. Thank you.
Monique Buchanan 16:43
And all day and twice on Sunday. I love my animals, but let's
Becky Coins 16:47
not forget our VA buyers. We not absolutely
Monique Buchanan 16:51
bought. Yep, zero down for our veterans. In fact, my gentleman, that's the Creech. In fact, shouts out to Creech, shouts out to the firefighters out there, don't you all know we love all you firefighters and police officers. You guys are man putting it on the line. Thank you so much. Nurses, doctors, thank you guys so much, and all in between, you know. But anyways, yeah, so he is a veteran, and he's the one that's gonna get his $4,000 earnest money back. You guys, he's literally purchasing this home with nothing out of pocket, except he paid for his home, or homework, you know, he did not, because I got that paid for by the seller. He paid for his home inspection, which was $400 and he paid $700 for his appraisal. That is the complete amount what he spent to buy his home as a battery,
Becky Coins 17:38
less than a security deposit,
Monique Buchanan 17:39
honey. That was $1,100
Becky Coins 17:41
that's less than a month's rent. He
Monique Buchanan 17:42
bought a half a million dollar home with the last $100
Becky Coins 17:45
rent,
Monique Buchanan 17:45
and he, and he's, you know what, and he deserves
Becky Coins 17:48
it. Yes, he does.
Monique Buchanan 17:48
Being a veteran,
Becky Coins 17:49
yes, he does. But
Monique Buchanan 17:50
guess what, I've got that going on for even people that are not veterans. We do,
Becky Coins 17:53
yes, we do.
Monique Buchanan 17:53
Using that same zero down program, he gets it because he's a vet, and we have the zero down programs, multiple of them that you can choose from as well, though we've been using, I've been using these programs for you guys 10 years, and guess what, they don't take no longer than a regular buyer to close on. We, I close on my zero down programs in three weeks. I'm putting keys in your hands with zero down, guys. That's why we're on here. That's why 7029 84 3700 that is the number if you are wanting to become a home owner, and you were thinking that it's out of reach, it is not out of reach. Please hear me, it is not even. I'll admit this, I had only been a realtor for about a year. I went ahead and said, "Okay, it's time for me to buy a house. I can't be over here preaching about buying a house, and I'm renting. So I said, "Man, I don't know if this.. I was so nervous, I didn't think it was really.. I thought something was gonna pop up, something was gonna happen, where my.. my.. I didn't want my heart to get broke. Any.. I have been selling homes for a year at this point, and I knew the programs worked, and I knew all the things, but I still wondered if it was gonna happen for me.
Becky Coins 18:58
Sometimes you just need that extra little push, just to.
Monique Buchanan 19:00
yeah. well, my husband, he pushed, he pushed, yeah, and luckily he did, because we're working on multiple properties now,
Becky Coins 19:07
yeah, once you get
Monique Buchanan 19:08
that one, it's open, like your son,
Becky Coins 19:11
my little real estate mogul, now, now he's a real estate mogul, now he's
Monique Buchanan 19:14
trying to get all his friends, like, hey, you can do this, come on, we're gonna get these homes for you, so all right, so what about the people who are renting and think it's just easier to stay where they are? Oh, like my, my neighbor, bless her heart, and like Alicia, one of our best friends. I've been here for five plus years, I pay my rent early, and he just loves me until knock, knock,
Becky Coins 19:36
knock.
Monique Buchanan 19:37
Yep, until email for her on her birthday. On her birthday in Costa Rica, you've got 30 days to move, so rent payments build someone else as well. That's the biggest deal, you guys. That is the
Becky Coins 19:46
big, that's the number one, number one thing.
Monique Buchanan 19:48
You are literally throwing money down the drain every time you make that payment, because you get nothing back for it.
Becky Coins 19:53
Yeah,
Monique Buchanan 19:54
nothing up until recently, you didn't even get good credit for it. You know what I mean, so mortgage payments, they build equity. What do we mean by that? We mean you buy that house for 400,000 okay? Next year it's worth 420,000 Guess what? You just made
Becky Coins 20:11
20k
Monique Buchanan 20:12
Guess what you made if you were renting that same 400,000
Becky Coins 20:14
Nothing, zero,
Monique Buchanan 20:16
zip, zero, nada. Do you get? You don't even get a write-off.
Becky Coins 20:19
No,
Monique Buchanan 20:19
you can't even write off what you paid in rent, unless you're a business.
Becky Coins 20:24
Yeah, for renting, usually the rent, not always, but usually is more than the mortgage.
Monique Buchanan 20:30
Absolutely, absolutely. In many cases, you're dag gone right, especially with rent now, you know. So, and also, here's the biggest thing: we have no rent cap here in Nevada.
Becky Coins 20:38
I know
Monique Buchanan 20:39
none. You know, what that means, every year your landlord can go up as much as he wants, and that was happening quite often, right after, remember, like a couple years back, right after Covid.
Becky Coins 20:49
After Covid, they got crazy,
Monique Buchanan 20:50
they're trying to make up what they lost.
Becky Coins 20:52
Yeah,
Monique Buchanan 20:52
people were raising the rent 567, $100 and you heard people on the news talking about it, because, hey, they can do it here. We're not California, we're not Washington State, where they do have rent caps, right.
Becky Coins 21:04
Absolutely. And you know, your mortgage is its fixed rate, you got stability, your stuff's not jumping all over the place. You know what you're paying, you
Monique Buchanan 21:12
can count on it, you can book on it, you can make plans, because that's 30 years. The only way it goes up is taxes, or if your insurance increases, and you can shop around for increase or inquiry, you don't want to shop for increase, shop for decrease, lower insurance, but it's usually very minimal, but still, that's the only way the payment for the roof over your head goes up, is taxes, and you
Becky Coins 21:34
know, I hear a lot of people, yeah, and I hear a lot of people say 30 years when it's renting, then I don't have to worry about, you know, upkeep, I don't have to spend the money. The landlord's responsible for this. The landlord is one, is not responsible for everything in that house. There is stuff as a renter that you are still required, right, to do. A
Monique Buchanan 21:50
lot of the landlords put it in their Lisa, you're required for the first $200 worth of stuff that you have to pay. Yeah, and then you know, whatever. But yeah, here's the good news: whenever we sell you a home, we get you a home warranty that covers it's just like having, you know, a repair team on call, yeah, right. They repair all the major, major parts of the property, so you know, I compare it to an extended warranty on a car,
Becky Coins 22:12
exactly. Yeah, so you've got, you know,
Monique Buchanan 22:13
if you want to add your appliances, you can, your pool, you can as well, but normally this, it covers like your plumbing. When I moved into my home, I had to have every single one of my shark bites under the sinks redone because they were 20 years old.
Becky Coins 22:26
Yeah,
Monique Buchanan 22:27
that would have cost me a little over $1,000 from a plumber. I paid $70 that was my copay, or whatever, not copay, but my, what do you call it, a deductible, deductible for my homeowners insurance. Okay, that, and the seller paid for my homeowners insurance for a year, but that covers the plumbing, it covers the electrical in your house, a multitude of things. It can, like I said, cover your appliances, it gives you peace of mind, so you know, okay, if something goes down, I only have to pay pretty much my deductible. I always talk to you guys about my two AC units. I only pay a grand total for the big ticket items, like AC units, those are typically about 7000 each. I paid a grand for two.
Becky Coins 23:04
And what about when the AC goes out and you have to call up the landlord? You got to wait for them to go do the stuff, wait for them to coordinate it, and you're sweating, your kids are hot, you're dying in there. Yeah, you
Monique Buchanan 23:15
take over that control because it's your home. So don't believe those commercials. And then another thing about Vegas, I'm just gonna be straight up, you guys. I get it. If I'm in Seattle or Cali, we got weather really tearing up the houses, you know, rain and all the things, bugs. We live in a desert,
Becky Coins 23:30
yeah. Not
Monique Buchanan 23:30
to say things don't go left, but I'll tell you what, I'm gonna be honest with you, I've been a homeowner for what, almost 10 years now too, and I've had to change two AC units through my home warranty, that plumbing I just told you about. Is there anything else that's happened? And I'm being honest, because y'all know I love the Lord. I'm not gonna let Him block my blessing for sitting here lying to you guys. So I'm gonna be honest with you, that is it. And two homes, that is
Becky Coins 23:54
it. My one home in, what's it, 14 years, I think I replaced a water heater for $800 Those
Monique Buchanan 24:00
go out, but those aren't that expensive. They do go 800 bucks,
Becky Coins 24:03
because I didn't do the home warranty at that point in time. Otherwise, the warranty would have taken care of it, but I didn't. I had lapsed it at that point. Thank
Monique Buchanan 24:10
God, it was just a water heater, just
Becky Coins 24:11
a water heater, and it didn't do any damage. It would just need to be replaced. It just stopped working. I think I had, I had a handyman come over and had to fix my stove once that cost me like $200 like those are appliances, that's not even the house. And right now, obviously, I mentioned a few weeks ago we had our flood, that's all under my homeowner's insurance, that was a thing that happened. They're fixing everything, I'm getting updated new stuff in there, but other than that, that's it. I haven't had anything.
Monique Buchanan 24:36
Yeah, and that's my
Becky Coins 24:36
house,
Monique Buchanan 24:37
that's being honest. 14 years,
Monique Buchanan 24:39
honestly, we don't have rain, we don't have bugs, we don't have termites, you know what I mean, like, like that, we don't have stuff that really just tears your house up over time, in my opinion. Been doing this for a decade, even when I do, in like, when you do, like, inspections, there's usually just caulking, you need to do little caulking, little stuff, you know, it's not like 100 year old home in Louisiana. No, right? You know, you can't compare it, and we get a lot of people that move here from out of state, and I get it. They're like worried about the roof, and they're worried about things, and I get it, because they come from a place where that is a major problem. We have tile roofs out here for the most part, right? Those last forever, a couple crack tiles, but I mean, a roof week. Have you ever, in your career, I've yet to see a roof leak come across a house that was 50
Becky Coins 25:25
some odd years old, maybe, and they just had a little patch that somebody
Monique Buchanan 25:28
can put, you know, an email in your email and saying you and your family got to up everything, you've been living there for 10 years, you know, much stuff you accumulate in 10 years, and now you gotta up and move in the middle of, like, my neighbor said, "Oh my goodness, I gotta sit here and move my kids. She's got four kids and all my stuff in 120 degree weather now. Monique, she said, "I wish I could buy right now. Monique,
Becky Coins 25:50
you don't get to pick the time. When they're ready, they're ready. It's not your choice to put that house on the market and sell it, because you've outgrown it.
Monique Buchanan 25:57
Yep, yep, absolutely. Well, what about buyers that are worried about their job security, what would you say about that? Beck,
Becky Coins 26:02
about job security, I mean, there's a lot of people that have, you know, stuff going on in the world today, and you know it's very valid, because we do see what's happening with things that are going on in the climate right now, but you know, I always tell everybody, we don't ever, we're not one of those teams that try to push people to max out their budgets and do stuff like that, purchase with what you're comfortable with,
Monique Buchanan 26:24
make sure you can afford it. Yeah, and we're big on that. We're big on that. That's why we get the money from the seller for the closing costs, so we can also talk about buying down your rates and doing things like that to make it affordable for you. Now, here's the last one. We got to wrap it up. I wish we had more time. We're probably going to continue this next week. Yeah, so I want to say something to people that think they have to pay off every debt before they buy, that's not true, you guys. All right, homeowners have debt, we have debt, cars, you know, student loans, credit cards, that does not automatically prevent you from an approval. I would say pay down your credit card so that your credit score goes up, but the focus is usually monthly affordability, right? You just want to make sure that you're able to afford your mortgage, all right. So many buyers will qualify sooner than they think. Okay, just focusing on paying down your credit cards, that's all. We don't want you paying off cars. Did you know that when you pay off a car, your, your, your credit drops? Yes,
Becky Coins 27:17
I did. It's crazy how that works. They tell you, you got to be careful.
Monique Buchanan 27:20
Isn't that great? And don't ever close a credit card. I didn't know that. Yep, I thought I was doing the right thing when I moved to Austin. By the way, I used to live in Round Rock. Anyways, I said, "Let me set myself up, so I paid off my car, paid off all my credit cards, shut them all down, debt free, and my credit dropped over 100 points. I could not believe. Anyways, guys, that's a whole nother. I don't agree
Becky Coins 27:42
with the rules, but you got to play by them, right, right, right, right. So, guys,
Monique Buchanan 27:45
I hope this helped you guys a little bit, you know. I hoped you just, you know, if maybe we didn't tackle your question this week, but we will get to it, I promise you. Um, next week we're gonna probably jump back into this, because this was good, you know.
Becky Coins 27:57
Absolutely.
Monique Buchanan 27:58
702984 3700 Welcome home, show 91.5 at Gmail is my email at Reals for Monique Buchanan is on IG Welcome Home with monique.com You can surf the website, you can check out and see how much your own home is worth, if you're thinking about listing, but if you are thinking about buying, we're getting other people to pay your cost right now. 7029 8437 at 3700 We're also putting you in zero down programs, if that's what you need. You can pull from 401 k. You can get a gift from a family member if they've got the coin. Okay, and then go ahead and buy down your rate or use a program to make that, you know, affordable for you. That way you're locking that security in for 30 years. Becky, thank you so much for joining us today, like always.
Becky Coins 28:43
Well, thank
Monique Buchanan 28:43
you so much for having me. As always, I hope our listeners learned a lot of things to keep people from buying their homes are actually just misconceptions. So, if you've been sitting on the sidelines wondering if it's time for you or if it's possible for you, don't counsel yourself out before you explore your options, you guys. So, sometimes the answer is a lot better than you think, but you gotta give it a shot, right back.
Becky Coins 29:08
Absolutely, every time. Remember, no matter what's happening in the world, there's something special about having a place to call home.
Monique Buchanan 29:14
Absolutely, it's called security, right? Knowing you've got somewhere to lay your head, and nobody can tell you that it's time to go, so we love you guys. Happy Father's Day, happy Juneteenth.
Becky Coins 29:25
Have a blessed weekend, everybody.
Monique Buchanan 29:26
Have a blessed weekend. Love y'all. Bye 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 984 37 00 you can also find me on YouTube.
Transcribed by https://otter.ai