Every fourth Sunday, Regana Kooman-Henry discusses various aspects of the home buying process and home ownership experience.
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You're listening to locally produced programming created in KU NV studios on public radio K u and v 91.5. You're
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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 Jazz and more, the University of Nevada, Las Vegas, or the Board of Regents of the Nevada System of Higher Education.
Regana Kooman Henry 0:43
Welcome to the Southern Nevada real estate Show. I'm your host Magana. I am a real estate agent and broker associate with Coldwell Banker Premier Realty. I have been a licensed real estate professional since 1991. I am also a full time licensed real estate professional. 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 of 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. Today I am doing something a little different. I am the host today and I am doing my very own interview for the first time on my show. I usually have other people that I interview and I am going to start with the real estate stats for April and compare it with March stats. So here goes stats for April 2023. The median sale price for a single family home was 430,000. The median new listing price for a single family home was 474,000. The median list price of all single family homes available new and not new on the market was 539,990. And the median sold price for a condo or townhouse was 270,000. The median new listing price for a condo townhouse was 270,000. Also, and the median list price for all condo, or townhomes available new and not new on the market was 289,000. And there were 2451 new single family home listings. And there were 704 new condo or townhouse looked listings. And, and the month of April 53.6% Of all the single family homes went under contract from being available to under contract with a buyer in 30 days or less. And in the month of April 58.1% Of all the condo townhouses went under contract in 30 days or less in April. And there were in April 1900 62 single family homes that sold and in April there were 535 condo and townhouses combined, that sold and might be wondering, the primary reasons why newcomers from other parts of the world and parts of the United States move to Nevada are number one, employment opportunities. Number two, retirement number three, we have some great family neighborhoods here in Southern Nevada, and the lifestyle and for also for health reasons. You know, with the drier climate people are moving to Nevada. And now I'm going to go ahead and mention the stats for March 2023. And then we're going to get into some interesting discussions just in general regarding the market currently for buyers and sellers. So the stats for March 2023 to compare with April that I just mentioned, the median sold price for single family home in March was 425,000. The median list price for a single family home in March was 470,000. The median list price for all single family homes new on the market and not new on the market was 515,000 and the median sold price for condo or townhouse combined was 200 60,000 the median new list price for townhouse condo, new on the market and not new on the market back in March was 289,000. And there were 2565 new single family home listings and the month month of March. And there were 733 new townhouse condo listings combined. In the month of March 49.6% of all single family homes went from available to under contract with the buyer in less than 30 days in March 54.6% of all condo townhouses went from available to under contract with a buyer in less than 30 days. And there were 2361 single family homes sold in the month of March. And there were 601 condo, townhouse or condo condo townhouses combined that sold in the month of March. And for listeners out there that would like to know what the market range for your home is right now. Please don't hesitate to call me, we can make an appointment to get together for no cost evaluation. No cost appointment to go over a detailed report of what the market is doing in your neighborhood currently and calculate together the price range for your home currently. This way you have all the information you need in order to make an informed decision. If this is a good time to sell your home, listeners out there should never rely on the internet to calculate and determine the price range of their home. The internet will never replace a real estate professional. A computer and the Internet can never do the same detail reports as a professional like myself real estate professional can Zillow and all these other things, they're okay, but they're not guaranteed. My number is 702-596-1267. And for potential buyers listening right now, there may be some of you listening right now that feel that homeownership is not possible. And I'm here to tell you that being in the business for over 31 years, there is probably not anything I have not seen regarding people's different situations. Everyone has to get their start somehow. And you will never know if you don't try my number again. 702-596-1267 To make an appointment today to explore all your options for purchasing a home. And, you know, over the years, I've heard all kinds of questions asked by buyers and sellers. So number one, what would I say to a buyer that is on the fence and is hesitating to purchase a home right now? Well, this was this is my answer. I'm like answering the questions. Because I am the host and I am also the my own interview today on Sunday morning. So what I would tell them is right now even though rate interest rates are high, you stand a chance to negotiate better offer better terms. With a seller right now because of that because the market has taken a turn and is a bit soft for a seller's even though prices have not dived down, you can get a better deal on average, because buyers right now are kind of skittish, they're waiting for that two and 3% interest rate that may or may not happen anytime soon. But I tell you what, once the rates come down some even if it's not two or three, but significantly lower. That's when everybody's all the buyers gonna come out of the woodwork, everybody's want to get on the bandwagon. And that's when the crazy bidding starts. Because now there's going to be more buyers who can then there is homes. So, you know, take the road less traveled, My motto is marry the property and date the rate meaning you can always refinance the rate once it drops, but you may not always get the opportunity to be able to negotiate with sellers, especially when things were so high this time last year. You know, people were willing to do anything to get a house because there was more buyers than than were were properties. And still we do have a shortage but things are a bit slower. So this is opportunity time to get a better deal on average, and refi later. And, you know, that's what I tell people. And what do I tell people for example, that would rather rent instead of purchasing a home right now? Well, you know, rent is not cheap. You know, for example, You know, if you pay 24,000 $2,000 a month, for a year, that's $24,000 a year times that foot by how many years? And this is just an example that you've been renting. Need I say more? Okay, and what do you say to people that are scared to talk to a lender, because they think they are not able to qualify for mortgage? Well, you never know until you try. The worst thing is not knowing, you know, your situation might be dire straight, but at least the lender can tell you minimum, what you can do to turn it around to qualify some time, there's things that actually hurt you, if you pay them off, then help you like certain situations that might be needing to be paid off. So a good lender will guide you through it. And I do know good lenders that can help you if you don't currently have one. And, you know, what do I say to the people that have not had the best homebuyer experience in the past to ease their mind and feel like they won't be repeating the same experience again? Well, that was them. This is now this is 2023. The past is the past, you need to leave it in the past, I worked very well with people guiding them through the process. And I literally wouldn't be able to sleep at night, if I feel like, you know, I wasn't doing the best job that I could. So I'm very good at communicating. And, you know, I guarantee that I'll listen to you and not repeat what someone else did in the past in case you did have a bad situation, you just have to let me know what happened. And I'll do everything I can to turn it around. And you know, I do work with first time buyers in case you're wondering, and even experienced buyers. And also, I do work with buyers that live outside the United States. I have lenders for all occasions. And that's something that if you are living outside the United States, I can help you too. And do I work with veteran buyers and sellers? Yes, matter of fact, I am certified through the Veterans Association of real estate professionals. I have that designation. So I do work a lot with veterans. And, you know, what would I tell sellers right now, if a seller is not sure if this is the right time to sell their home? Well, everybody's situation is different. I know from the last couple of two and a half years, things got very high since there was limited limited homes and a lot of buyers compared to the amount of homes available. So even though prices have come down, a lot of sellers still have equity, and depending on your situation, it may be the right time 702-596-1267 And we'll explore and if it's not the right time, I am extremely honest, I want to treat people like I would want to be treated. And ever since I've been doing real estate. That's how I feel. And I wouldn't, you know, work any other way. And you know, what would I tell a seller wondering if certain months of the year are better than other months replacing their home on the market? Well, we need to have a chat because this is Las Vegas, there isn't really a bad month, but there are months when other people are hesitating to even put their home on the market because, for example the holidays, Christmas, they think it's not a good time. But sometimes it's good to take the road less traveled instead of waiting for everybody to put their home on the market. So we can have that conversation also 702-596-1267 and I am here for anyone that would like to set up an appointment with a step by step, organized plan and full guidance from the beginning to the end of the transaction. And there are also mortgage companies that I've worked with, like I mentioned for many years that I can give a know that can give a no obligation consultation to anyone wanting to know how they can improve their credit to the minimum level to qualify for mortgage loan. And this is something that's close to my heart. One thing I have learned is tomorrow is not guaranteed to anyone. And you know, we should always treat people the way we want to be treated. And don't ever take anything or anyone for granted in life. This would include the people in your life that are important to you, people in your life that have been there for you in the bad times as well as the good times. And I say this because I take my clients seriously if they are themselves 100% dedicated to the process of owning their own home or selling their home. You And I sincerely always have a passion about my work. And I always treat my clients with respect. With respect always, no matter if the client is a first time homebuyer or an experienced seller. I absolutely love my clients. And I love guiding them through the home buying and selling process. And I have a huge conscience, which means that I personally have to do the best job possible for all my clients because that makes me literally sleep better at night. And I treat all my clients the way that I would want to be treated like I mentioned before, and I'm very mindful of the way I treat my clients with a real estate transaction sense. For most people, this would be the most expensive purchase they would ever do. And my clients know they will be represented and guided properly. And I respect all my clients. And I have experience with all types of transactions from local buyers and sellers, to corporate transfer buyers and sellers. And experience definitely does matter regarding who you hire to represent you, with the entire real estate process for appointment again, or consultation, you will be glad you did. And for sellers, as your realtor, I will show you how to get the best market price for your home, even in a shifting real estate market that we're currently in for an appointment. And now, I would like to share a couple things with the listeners that I have read, that really does have something to do with real estate even though it might not sound like it. So here goes. Number one, stop being scared of the unknown and start being more scared of never knowing. And number two, the gap between the life you want and the life you are living is called mindset, focus and consistency.
Think about it. It does tie in to real estate and you know reaching out and getting your goals to come to life. And I would now like to share something else with the listeners that I also read that really does have something to do with real estate. It's called the seven laws of karma. And you might be thinking, what does that have to do with anything. So number one, whatever we put into the universe will come back to us. Number two, life does not happen by itself, we need to make it happen. Number three, one must accept something in order to change it. Number four, we must take responsibility for what is in our own lives. Number five, history repeats itself until we learn from it and change our path. Number six, the most valuable rewards require persistence. And number seven, rewards are a result of the energy and effort we put into it. Now, again, you might be asking yourself, How in the world is this? What I just said have to do with real estate? And my direct answer to that question is that in life in life, you have to take action, believe in you and believe in the universe and the positive end results by putting in the necessary focus, determination and mindset. And for sellers right now. It is a still it is still a good time to sell possibly, since there is still decent equity from homes in general because like I mentioned homes I've increased so much in value over the last two and a half years. For whoever is listening right now. That is thinking about selling their home. Experience matters in this ever changing real estate market. And you should not leave things to fate or take chances. Don't settle for less. Call me to explore all your options. My direct number again it's 702-596-1267. And for buyers right now that are on the fence, saying they will continue to rent for another year or longer until interest rates come down to this Scotts the possibility of owning sense, rental prices are still high. And there is there's no tax benefit to renting. And you know, like that example I gave you earlier, if you're paying $2,000 a month, and let's just example, maybe some are paying more, a little less. But let's give this for an example, $2,000 a month on rent, that equals 24,000 a year, and times that for how many years that you've been renting. For many of you listening, that would have equaled paying cash for one or more homes, paying cash for one of my homes. That's insane. That's insanity. Now, you know, the definition of insanity is doing the same thing over and over and over again and expecting a different result. Now, you know, this could be the time to stop making your landlord Rich, I promise to take my time with explaining everything to you. So that you will have a greater understanding of what is going on in the current real estate market in order to make an informed decision. I also promise to take my time with any documents for signing and guide you step by step. So that you understand and are relaxed with the entire real estate transaction process. I'm not one to like, rush you through, I want to make sure our first appointment could just be coming to my office sitting down with me chit chatting about what your goals are, what you're trying to do with with the real estate situation, talk to you get to know you better, make sure that we're you and I are a good fit to work together, whether it's buying or selling. Now everybody doesn't work well with everybody. And that's fine, we have to make sure you know that we don't clash and we are good to work together. And for the most part, you know what the orientations I do, it's no obligation. You call me we make the appointment, you come into the office, and we explore options for you. And from there, if you don't have a lender, if you're a purchaser or buyer, I would guide you and put you through to the proper lender that can help you based on your situation. If you're scared about rejection. Hey, we all have our start sometime we have to crawl before we walk right? You know, but not taking any action not doing anything being scared of getting ahead in your life. That's not the best option. And I've helped so many countless numbers of people over the years from the age of 18 was my youngest client, he actually turned 19 When I handed him his keys. He actually had a job at a car dealership as a salesperson and he had two years Eddie, he filed his taxes and, and yet he did get a bonus from his job. You know, I mean, that was a time where homes were a bit less expensive back in the early 90s. But he was my youngest client to this day, you have to be at least 18 to buy a home and and show that you have some job stability. But he was able to do it with the bonus from his job working at a car dealership, he bought his first home. And that was so, so wonderful. I mean, I actually cried when we were done signing at the title company, I actually broke down and cried for such a young person. And his brother was also very young, but they were old enough to buy a home. And, you know, actually the title company was like, where's your parents because they looked younger than they were a true story. And it was just great that they had that ambition in life to start that young. And to start the ball rolling. And they've they've been very successful in their lives. And my oldest client was 92. And I sold them a home out in Boulder City. And that's what he wanted. He wanted to go to the community college and Henderson and learn languages and he was sharp as a whip he really was very intelligent for for his age, he still had it all together. You know, unfortunately, a few years he did pass but he did what he wanted to do. And that short period of time in his life, the time that he had left not knowing when he was going to pass, but he did what he wanted to do. And that's why I'm telling you, the audience out there. If you're thinking about selling, if you're thinking about buying, it may be a good time for you. Don't listen to people don't listen to your friends, to listen to your family even call the professionals to sit down with you like myself to see if it is that good time. to buy or sell, everybody has a different path. Everybody has a different circumstance. And you never know. Now there are friends out there and even family, you think they're in your corner. But to be fair, I've gone through life. And I've seen people that I call my friends or my family, sometimes family. I mean, sometimes friends are actually better than family even though they're blood. This might not be you who's listening out there this Sunday morning. But sometimes there are instances where people they smile in your face, but they're not that happy for you. They want, they want what you're trying to achieve, and they will discourage you. And even though I do this for a living, I would never, ever put someone in a situation if it isn't the right time. So between me and the mortgage lender, we'll consider if this is the right time, and if it's not, we'll just stay in touch with each other. I'm not going to put anybody in a financial hardship just to fill my purse. So with that said, thank you so much for listening to my show today. And again, my name is regatta kumin. Henry, with Coldwell Banker, Premier Realty, your hosts 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's 702-596-1267. And my license number is BS 27880. Thank you so much for listening to my show today. And thank you I appreciate you listening because this is my first solo attempt. And hopefully I was able to give the audience some, some insight. And so thank you very much for listening to my show this morning. And I wish everyone listening a great Sunday and a great Week.
Transcribed by https://otter.ai