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Every fourth Sunday, Regana Kooman-Henry discusses various aspects of the home buying process and home ownership experience.
Unknown Speaker 0:00
This is a K und studios original program. 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 Jazz and more the University of Nevada Las Vegas or the Board of Regents of the Nevada System of Higher Education.
Regana Kooman Henry 0:37
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. 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 and welcome to my show today. Again, I hope everyone is doing great on this sunny Sunday morning here in Fabulous Las Vegas. On a personal note, I would like to thank my clients Ivan and Shannon Smith, for their real estate business. They are truly awesome and amazing people. And I enjoyed working with them so much, Ivan and Shannon, I wish you many many years of happiness, and your beautiful new home I'm so blessed to have had you as my clients, trice. And I really appreciate your business. Now, on another note, I have a question for the listeners out there this morning. And my question to you listeners is when you think about the process of selling or purchasing a home, do you feel happy and excited about it? Or do you feel well stressed? Worried? Don't know where to start? Do you feel overwhelmed at times thinking about it? I would like to hear from you to express your thoughts on this question kind of do an in house survey. My number is 702-596-1267 that 702-596-1267. Also, I want to mention to all the listeners out there that have been listening to my show for the past two years. I thank you for your continued support. And I would like to personally thank all my clients that have become my clients as a result of listening to my show. It is my sincere hope that every time you you the listeners listen to my show that you learn at least one thing about what's currently happening with the Southern Nevada real estate market. Now, here's a few. Did you know questions? Did you know that Las Vegas Yes, Las Vegas has been recently named as America's new sports capitol. Can you believe it? That's right. I know when I first moved here to Southern Nevada, Las Vegas had no recognition at all as being any type of sports capital. That was around 1990 When I moved here, no, no, no status of that at all. But now look at it. The tables have turned. And did you know that there are new Home Builders here in Southern Nevada right here that can pay to buy your interest rate down down from the market rate below market rates buy it down because the builders can afford to spend several 1000s of dollars to buy the interest rate down when you purchase their homes. And did you know that if you need repairs done on your home, in order to get the top market dollar for your home, there is a program that will pay for the repairs upfront and you do not have to pay for the repairs until the home is sold. That's right. For more information on this program. My number is 702-596-1267 that 7025961 267 Now, for anyone thinking about selling their home for whatever reason, you may want to upsize, you may want to downsize, you may have a job transfer, you may need to move to be near family. If you have if you don't have family here, or for whatever reason, let's make an appointment to discuss how I can best help you and how I do the job right the first time I am here for you 100% through the whole process and beyond. I wholeheartedly enjoy what I do even after over 30 years of being a real estate professional. Here's another Did you know question? Did you know that online sites like Zillow, for example, cannot take the place of a full time real estate professional when it comes to setting a correct price to list your home. Only a real estate professional can do this. This is because you physically have to see the home in person. And you physically need to see the competition in person to give a correct price range to list your home. Here's another Did you know question? Did you know the supply and demand factor is part of determining the market value? That's right. A shortage of homes that exists in multiple states across the country right now has kept prices from going down? And did you know that purchasing a home is still considered your safest investment? Yes, purchasing a home has more appeal, and is considered a safer decision than many other types of investments, especially when you consider the equity potential. And even though it may be cheaper to rent versus own right now, the upside to owning your own home is the equity potential to be gained over the years. And you just cannot get that from paying a landlord instead of paying your own mortgage and gaining equity over the years. And did you know that there are ways to cut down to your overall interest over 30 years that you're paying on your mortgage loan? For more information, my number again is 702-596-1267. Now I have handled a number of different types of real estate transactions for both sellers and buyers. I have another question for the past sellers or recent sellers out there. My question is, did you ever have the sell of your home not worked out because the home appraised for less than the price that you and the buyer had a contract on? Did it fall apart? Now it can happen since an appraisal is a professional opinion of value. And if you have three different appraisers appraising the same home at the exact same time, like the same day, even then each appraiser can come up with a different appraised value of your home. Now as a real estate person experienced real estate professional as myself, I know how to handle this the best possible way. There's ways to handle this when the appraisal does come in low when you have a proper real estate professional guiding you through the process as myself. Now did you know that an approval letter okay, I've switched over to buyers? Did you know that an approval letter that a lender gives to a potential homebuyer sometimes is not a real approval at all. It can be just a piece of paper. That's right. Some lenders I'm not saying all of them, but some lenders will give an approval letter to a homebuyer based on just a telephone conversation. And maybe maybe a credit poll. Can you believe that?
I've seen it all. This can be an extremely dangerous situation that can cause a homebuyer to lose their deposit up front upfront. Also the appraisal cost that's up front and also the upfront home inspection costs that's paid up front plus time wasted. Frustration, anger, emotions running high. So don't be fooled and don't allow this to happen to you. My number is 7025961 1267 My goal this year is to help as many sellers and buyers that want to be helped with their selling and purchasing needs. Experience definitely matters a lot in this ever changing real estate world. For example, After all, if you needed surgery, would you go to a doctor that's recently graduating medical school? No, you would not. Now, I have assisted hundreds of clients over the years with the purchase and sell of their home. And I can help you too. If you're looking for a real estate professional, with integrity, honesty, and a proven track record, then I am your designated real estate professional choice. If you're thinking of selling, and you need to know the price range for your home, my number is 702-596-1267. Whether you are a traditional seller, or divorcing seller, or you need to sell a home through the probate process, I just want you to know that I am here for you. And I know what it takes to have the smoothest transaction possible. Of course, there can always be some upsets or hiccups, but I'm very knowledgeable. Because I've handled a wide range of different scenarios and different types of transactions. They're now here I'm gonna go on a different, different subject for a minute, but it does relate to real estate. In here goes. There are two types of people in this world. Those that are talkers, always talking about what they are going to do and never doing any of those things that they are talking about. And then there are those individuals that are the doers, the risk takers, the people that have a vision, and take action to make their visions and dreams a reality. Now ask yourself this morning. Which one are you? Are you the talker? Or are you the doer. I also know from experience that sometimes people around you that you feel are your best friends or family will try to talk you out of taking action regarding your goals that you want to accomplish. Because deep deep down, these people are jealous of you or they're just miserable people and want what you have, or or what you are wanting to achieve. Now, I have learned over the years that people are not always rooting for you to do well, because they aren't doing well and they cannot be happy for you. You know if you do well. So for example, the next time when you want to talk about your real estate goals, this is where the real estate ties in. Okay, be sure you are talking to people that will support you and not knock and not knock your plans of achieving your real estate goals down. What I am saying to the listeners out there is to follow your dreams. And strive to reach your goal regarding your real estate goals and any goals at all that you want to achieve. And do not let envious and negative people influence your decision about your goals. Also, never let anyone and I mean anyone make you feel guilty for doing better than they are in any category, whether it's financial, emotionally, or whatever it may be. Now, let's get back to the real estate in general subjects. Now I have another couple of digital questions for the listeners. Did you know that if you sell a rental property, you will have to pay what we call capital gain tax, which can be a very large amount unless you conduct what we call a 1031 exchange. If you would like more information on a 1031 exchange, my number is 702-596-1267. Also, did you know that if you purchase a primary residence home and then you decide to sell it and under two years of living in it and owning it, that you will also be paying capital gains taxes so you need to remain in the home for at least two years from the purchase to avoid paying capital any capital gain tax which can be kind of hefty. And now I would like to share with you the listeners what I do every month, which are the stats for the month previous so for the month of May and now As I mentioned on my previous shows, knowing the stats for each month, increases your knowledge of the Southern Nevada real estate market and gives you the facts each month of the Southern Nevada real estate market so that you can make an informed decision on whether this is a good time to purchase or sell a home. So here are the stats for me. Number one, 2401 single family homes sold in May, and 3123 homes is the number of new single family home listings for me. Number two $475,000 was the median price of a single family home that sold in May. Number three, the median price of new single family home listings that came on the market in May, was $500,000. Number four, the median price of all available single family homes, excluding offers in May was 564,990. Now I want to interrupt for just a minute before I jump to the condo townhouse stats. Now these are the stats for used resale houses not for new construction. Okay, and this the stats are from the Las Vegas realtor Association, so they're extremely accurate. So now let's go ahead and jump to the condo townhouses. Number five. Actually, I'm gonna say one more thing for the single family houses Excuse me. 70.9% of single family homes went from available to under contract in 30 days or less in May. So that's a large percentage going under contract from available to pending in less than 30 days. 30 days or less. Now we're jumping to the condos and townhouse. A number six there were 690 condos and townhomes combined. That sold in May. And there were 907 New townhome and condo listings combined in May. The median price of new condos and townhomes listings combined was 298,900 in May, and $295,000 is the median sold price of all condos and townhomes in May. Number eight, the median list price of all condos and townhomes combined, excluding offers in May was 289,064.9% of all townhomes and condos combined, went from available to under contract and 30 days or less. That's still pretty good. It's it's good movement, not taking too long for a good majority of these homes and townhomes condos to go under contract and a decent timeframe. Now, if you missed hearing any of the stats, my number is 702-596-1267. That 702-596-1267. And then, on another personal note, I would truly like to thank Donnie Martinez with Dr. Horton homes. He is truly amazing. And awesome. He represents the builder. And I was and it was great to work with him during a recent transaction where I represented the buyer. And Donnie represented the builder who is the seller. Thank you so much, Donnie, keep on doing amazing work. And you are great to work with and
many blessings to you. Much success at Dr. Horton. And for the listeners out there right now. You might be on the fence thinking about is this a good time to sell? Is this a good time to buy? And I'm here to let you know, knowledge is power. Like I mentioned, if any of the listeners out there are on the fence or not on the fence. Many of you listen religiously to my show every third Sunday and I really super appreciate it. I'd like to talk a little bit to about representation rep. Proper effort in representation, as I've mentioned, and my shows previously is very important. Sometimes many times most of the time actually people do want their own real estate agent a lot of times the buyer does not want to be represented by the agent that's already representing the seller. Sometimes they feel that it's a big conflict of interest. So if you have any questions about agency, who represents who, there's a lot of things coming up in August, that's changing, you're welcome to call me. So I can kind of walk you through what's, what's going on as far as representation and things like that. But one thing remains the same. And all these years, you can never, ever put a price on proper representation, because a home is your largest asset for most people. And whether you're selling a home, or you're purchasing a home, it's a big step. And you want someone that you know, is going to be in your corner, you want a real estate professional as myself, that is going to look for your look after your best interests, that's willing to walk away, have you walk away from a transaction, if it doesn't look, right, we'll guide you through since it's since it's your home, or it's your money, if you're bought purchasing a home. As a real estate professional, we can't like, tell you what to buy. But as a professional, I'm here to guide you through the process. So it's not so overwhelming, as I mentioned, when I first talked about it, in the beginning of my show today. And what about this weather everybody I tell you, it's like a furnace. Every time I step outside, I know everywhere is air conditioned, really good once once you get inside your vehicle or inside a building, but it's just the fact of getting from the building to the vehicle or vice versa. It's like a furnace outside guys, it's like, summer came way too quick this year. And as many years as I've lived here, I still can't get used to those triple digits. Mount Charleston is my best friend, I like to go up there whenever I can just to get away from the extreme heat. And I'm sure a lot of you know what I'm talking about. Because it's like about 30 degrees or so cooler in the summertime don't want to go there in the wintertime, because I'm not really a winter sport type person. But summertime, I'm there. And I just want to let the listeners know, whatever you are thinking right now, if you're thinking about selling your home, if you're thinking about purchasing a home, everyone has a different situation, everyone's situation is unique to the next person, I will definitely let you know by looking at the numbers by if you're a seller, by what you owe on your mortgage, versus what you're going to get back on your home, versus how we're going to get going to get you into your next home if you're trying to upsize or downsize to see if the numbers make sense. I know a lot of people are saying oh, I want to wait for 3% to come back. Well, I don't see it happening like tomorrow. And if it did, that's good. But the flip side of that is every one that is backing, sitting on the back burner waiting for this to happen is going to jump now jump back into the market. If If and when interest rates get anywhere near that, I'm thinking to myself, if even if they get like toward 5%, I think a lot of a lot more buyers are going to be running to purchase a home to get that lower rate. And once that happens, everyone in the brother is going to be bidding you know on top of each other. And that's how the prices are ready are where they are. So if it is logical, if it makes sense with the numbers for you, I would encourage the listeners if you're a purchaser to take that step. If you have a lender fine if not, I have an under that I can put you through to take care of, of meeting with you in person over the phone however your schedule and how you feel comfortable to meet with a lender to go over numbers in writing so that you can make an informed decision if this is a good time to purchase and then if you're a Dollar two, if this is a good time to sell, I can truly say that unless you have more than one mortgage, most likely you have equity. Unless you just bought the home yesterday, I would think you do because during the pandemic, as we all know, we thought that things were going to go down in real estate, but it did the opposite effect. And people want it to purchase to move up into a bigger home to get out of apartment living now they can live anywhere in the world if they permanently work at home. If this if their employer puts that in writing, so we had people coming out of the woodwork to purchase a home and they were bidding on top of each other. And history can repeat itself to like I said, if the interest rates drop enough, that same situation could apply. So if you can afford it, purchase now. And you can always refinance when rates get lower. Okay? If you can't, then you can't, but if you can, I would say what is stopping you from getting out of being a renter into homeownership, if financially it makes sense for you. And My name again is regatta kumin. Henry, and I'm 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 702-596-1267 And my license number is b s 27880. You can follow me on Facebook, Instagram, Tik Tok and YouTube. Thank you so much for listening to my show. And I wish everyone listening a great Sunday and a great week
Unknown Speaker 27:23
you can catch forgotten acumen Henry this Thursday at 220 in the afternoon with Rita live in her new time slot right here on 91.5 FM, jazz and more
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