This is a KUNV Studio's original program. 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. [MUSIC PLAYING] I know you see me on the video. I know you mean me on the radio. But you still don't pay no attention. Listen and know what your home boy is, bitch. Good morning. This is Monique Buchanan, the host of The Welcome Home with Monique Show. And on this show, I talk all things real estate. Listen, I want to thank you for tuning in. Well, hello Las Vegas. It's Monique Buchanan, the host of The Welcome Home with Monique Show. And listen, guys, if you guys hear the happiness in my voice, that's right. It is my birthday tomorrow. So I just want to say thank you to the Lord, my Savior, for letting me see yet another year. And I've been just so truly blessed. If you're just tuning in, you don't know who I am. I'm Monique Buchanan. I am the host of The Welcome Home with Monique Show. I'm also your local Las Vegas realtor here in the beautiful Las Vegas Valley. But first and foremost, I am a wife. I am a Christian woman. I am a mother, and I am a friend. So nice to meet you. I'm Monique Buchanan. Listen, I am recording this show today on a Thursday. So just as previous Thursday was, National Bring Your Child to Work Day. So I have a great show for you. We're going to talk about some down payment assistant programs. We're going to talk about the current market and all that great stuff. But first, I want to introduce all of you out there, all of my KUMV family. You guys may have heard my little girls come on before Miss Malia and Miss Sasha. But I've got my nieces on today as well with me. Miss is Mel, or should I say Melanie, and Miss McCayla. So hey, bring the babies to work day. And also have my sister, Alexis Johnson. You guys have heard her come on the show many a time. She's also a realtor here in the beautiful Las Vegas Valley. She does high end listings and buyers as such. So she's on as well. These are her beautiful daughters. So I'm going to go ahead and introduce you first and foremost to the eldest at the table. Miss Melanie, you want to say hi, Mel? Hi, my name is Melanie Johnson. I'm 13, so I'm going to finish this. And I'm on her show. They're so soft-spoken. That was great, Mel. So yeah, I told them, say your name and say how old you are. So Melanie is 13, soon to be 14, right? And then Miss McCayla, you want to say hi to all the KUMV listeners? Hi, I'm Michaela Johnson, and I'm nine years old. Yes, she is. Oh, I wish you guys could see how beautiful they are. All right, it's your turn. Hello, Melia, and how old are you? I'm 10. What's your name? Melia. You Cannon? Yes. OK, how about you, Sasha? My name is Sasha Buchanan, and I'm seven. She's seven. OK, so we're going to bring them on. But first, I want to also introduce my sister once again. Alexis Johnson. And those were her babies, Melanie McCayla. Hello, hello, everyone. All right, so we're going to go ahead and jump into the show. We're just going to talk to our daughters about what it means to them. Home ownership, us being-- their mother's being in real estate. So let's start with you, Mel. I mean, how does it feel-- how do you feel about owning your own home? With you living in a home that you know is your home, it's not going to be-- you're not going to have to pick up and move, or does that even matter to you at all? I know you're a teenager. Does that matter at all? Yes, it does matter because I don't want to be my friends in my school, and I love my house. You do love your house, and you have a beautiful, beautiful home. You guys moved into that house just a couple years ago. What do you like best about your home? What I love best about my home is my backyard. It's really vague, and it has a casita, which is another house. Yeah, because you plan on moving in that casita, don't you? I'm leaving as soon as I turn each in. You guys should see my sister's face right now. We always have that one child that just wants to get away from us, right? No problem. So you say you don't want to switch schools, because it's true when-- if your mom and dad was renting, it's very likely that they may have to switch homes and rent another home, right? So at least now with mom and daddy having that home, and they bought it, you're going to be there, and you know that you can grow up there, and you don't have to worry about switching schools. So that's a valid point. That's a valid point. OK, Ms. McKayla, what do you think-- I mean, what do you think that it's important that you own your home, or what do you like about your home? Yes, it's really important. I would not want to move, because I have all the people I love here. Aww, and you love your neighborhood? Yes, I do. You do. You guys have a great neighborhood, all right? So it's important to you that mommy and daddy owns their home. And I mean, do you think it's important that you know even when you get older, you'll be able to come back to that house? Oh, yes, of course. All right. OK. How about you, Malia? What do you think about mommy and daddy owning a home? Is there any difference in if your friends that are renting, and maybe they have to move schools? Or would that matter to you? Do you mind making new friends? I mean, what are your thoughts on owning a home? I say it's good. And also, the reason why I love this home is because it's-- I had it since I was four, and it's my real home, and I have so many memories there, and that I wouldn't want to make new friends because I have all my friends here. And I have good memories in this home, and I love the home. That's good. That's very good in palette points as well. The memories that you make in the home over the many years that you stay there, right? OK, Sasha, what do you have to say about your house? And by the way, you guys, we're-- we actually have-- we're listing our house. We're putting on the market. We're about to buy a new home. And Miss Sasha, honey, she does not like change. So she's not too happy with mommy and daddy selling the home that she's been in since she was nine months old. But we are going to be upgrading, like you guys have heard me talk about. So you might have-- you might hear Sasha complain a bit. But go ahead, Sasha. What do you think about the current home that we've been in? Does that matter to you? Yes. OK. You want to expand? Why does it matter to you that we're selling the home? Why does that bother you? Because I have a lot of memories there. And like on Easter when I was four. Oh, yeah, on Easter when you were four, when we did egg hunt. So you remember that? And then you also pointed out that our hands are in the concrete in the back. And you didn't want to leave your handprint there. So OK, so that makes sense. But like you guys have heard me say-- and that's actually a very good segue. Me and my sister, who's also in real estate, Miss Alexis Johnson, we're going to be talking about if you currently own a property upgrading and not letting that window shut on you to go ahead and make that leap of faith and upgrade your property if you want to get into a bigger home or even downsize. But before I do that, I do want to get the babies. One more thing that I want to ask them. And I know my sister's going to look at me like I'm crazy. But all right, let's start this way now. How do you feel about your guys' mommy's being in real estate? You want to start, Malia? I know you were laughing and making fun of me on the way over here. So you want to tell my listeners, you know, I'm an open book. Go ahead. OK. So I was saying in the car how she's always on the phone, trying to help people and the things she's-- she's everywhere as we go. But case you're anywhere, she's on the phone helping somebody. And that's why I love my mom very much. And that's what I think about her being a real estate. She's a very hard worker. And she's the best mom I've ever had. And she is the best friend that everybody should have. And she will not leave you behind. She will help you. And she's a very good real estate. Well, thank you, honey. That was not a paid ad. Let me just put that out there. Thank you, honey. Mommy loves you too. I appreciate you guys being patient with me while me and Auntie Alexis try to help as many people as we can get homes like you guys. So I appreciate that. Now, Makayla, what do you have to say about that? I think I like my mom being a real estate agent, because if she is selling a home, she could get a lot of money for it. She can find me like a lot of toys. Hey, we're keeping a 100 on this show. It's true, so Mommy gets paid. And that helps to fund the home, of course. So she's bringing home the bacon. How about you, Mel? I feel, buddy, I feel like it could be good and bad sometimes. She sometimes can get frustrated sometimes. And sometimes she could be like really in a happy mood. It depends on if it's going good or not. Sometimes when she closes a house, we get to go to Disney World. And that could be fun. And that's right. So Mommy is very passionate. And me and her both are. So you're right. We will get frustrated if we don't see that things are going the way for our clients, because we care about our clients. So it is frustrating if things are not heading the right direction. But me and Mommy work it out, honey. And we get it going in the right direction, which gets you to Disneyland. So those were honest answers. And Malia, Sasha, do you want to say anything? You're the only one that didn't say anything. Now, you guys, I'm holding onto my boots. We don't know what this Sasha's going to say. Spicy Sasha. What you got to say about Mommy doing real estate? Anything? How do you feel about Mommy on the phone? Or helping the people? Or what do you think? On the phone. Not your type. You don't like when Mommy's on the phone. Even if I'm helping people, honey. No. OK. Well, there you go. There's her honest answer, you guys. Well, thank you, lovely ladies, for coming onto the show today. I appreciate you guys. And we know that you guys are the future. And it looks like we have a very bright future ahead of us. And I don't think all of them are going to go into real estate, you guys. KU and V listeners, I have a feeling that half this crowd over here is not going to be in real estate business. But at least they get to see their parents and their moms making moves, trying to help families become home owners and get their dreams answered. And yes, our kids do sacrifice. But I think that it's a well worth sacrifice. And we make up for it in other ways, right guys? All right, well, we love you guys. Now we're going to do our real estate business. All right, Alexis. So the kids spoke, honey. The kids spoke and they did not hold back. Yes, they did. But let's talk about this. Let me give a couple of shots out real quick, too. We've got a couple of shots out to give. I've got the Diaz family. We just close on their per-rump property. You guys hear me saying it all the time. Per-rump is the new suburb of Las Vegas. Let me just say it. Yes, I said it. Per-rump is a new suburb. It only takes an hour. And honey, if you're from LA, if you're from Texas, Dallas, Seattle, anywhere around there, an hour is nothing. Those folks are driving an hour to work all day long. Am I right, Alexis? You're from Cali. They are, right. And they're building so much out that way that that drive doesn't even seem like an hour drive. It's more-- it's more close to like-- 35 minutes. Yeah, 35 minutes. You're absolutely-- Vegas has pushed out so far. Back in the day, it was like an hour and a half drive. Now Mountain's Edge is so far up to the mountain that you're back in the city in no time at all. So congratulations to the Diaz family. We got them a single story home on an 8,000 square foot lot for 330,000. You heard me, right? $330,000, you guys. So listen, we will get you out there, get you into a home if that's what you're looking for. And the budget is not here in Las Vegas. Our homes-- our average medium home price here in Las Vegas is $450,000. So if your budget is around that, you want a payment sitting at about $2,200 a month. You want RV parking, what three-car garage. Perump is where it's at. And I'm here to assist and also Alexis. So also, congratulations to my lawyer friend and now client, Mr. Stafford. He closed on his home-- I'm sorry, he did not close. We went into contract on his three-car garage. Single story, 3,000 square foot home with a 10,000 square foot lot for $385,000. You guys, he's getting keys. May 15, Alexis. Wow. Alexis, you're another fellow agent. Can you find me a $300 or $3,000 square foot home, three-car garage, RV parking for under $400,000 here in Vegas? No, ma'am. Are you sure? Sure, I'm positive I'm out there looking now. And if there is anyone that have a home that they're ready to list-- Yeah, yeah. Because here's the thing. Alexis has some clients that she's working with. And they're about ready to go to Perump. Because you guys have been looking for how long, Alexis? Four months. Four months. And what's their budget? Right there by like $3, $3.50 is where they want to stay. And it's been very difficult to find it here in Las Vegas, because inventory is very low. And when it does hit the market, it's going so fast. Absolutely. And don't even think about looking in the Southwest area. Even if you have $4.50 in the Southwest area, there's multiple offers. You're getting beat out. It's already starting to happen. You know what I mean? You're thinking about selling your property, rolling over that equity, taking that $2, $300,000 whatever you're going to make, and just putting it onto the next home so that your payment will be affordable. And then we will negotiate a rate for you by having the seller buy down your rate. So the houses that you guys were looking at, Alexis, with your clients, around how big were they for $350,000? They were just slightly over a thousand square foot. So not even-- It's like an apartment. Yeah, it didn't even get like a driveway. And some of them are one car garage. So parking was an issue for-- it has been an issue for them. So they need that. They have two vehicles. And yeah, they have no parking. Yeah, so Perup is an option for them. My clients, the Diaz family, we were looking-- man, we have been looking for about four or five months. And they have five beautiful children. And they need it to bedrooms. You know what I mean? And then they need the space with five kids. And then also, Mr. Diaz has a business. So he needs that space for his equipment for his business and such. So at $350, they're actually approved for the same amount. There just was no options here in Vegas that would really suit their needs. You know what I mean? The best thing that we could find was a town home. And that really didn't suit their needs. So you know what? She said, you know what? He owns his own business. And I can drive into Vegas. You know what I mean? So they finally said, and you know what? That's it, Monique. We're going to go ahead and take you up. Boy, when I took them to Perup, we bought a home that is less than 10 years old on a corner lot. Like I said, over 8,000 square foot lot for the Diaz family. Wow, yeah. Your kids have plenty of room to run around and just, you know, have so much fun at out in Perup. They can get their kids three Willers, four Willers. You know what I mean? Right, right. And $330,000, two-car garage, you know? And it has the rooms that they need. So I'm so happy for them. But that's definitely an option, you guys. If you're just tuning in, I don't think I've said my number, not one time. You can reach me at 702-984-3700-702984-3700. $370,000 Monique Buchanan, your local Las Vegas realtor, 702-984-3700-702984-3700. If you're looking to purchase a property, me and my team, which is also Alexis, will assist on getting you out there, getting you into the home that will suit your needs and make you happy. So let's jump back into this market. Now, a lot of times, what we're doing is we're doing what's called a 3-1 buy-down with most of our clients, right? Right. The reason we're doing that, guys, is because, yes, you're going to hear by the water cooler, all the rates are high. The rates are high. Don't buy. What do you say to that when you-- they're listening to their people at work and-- oh, wait, wait till the rates come down. Then buy. I would just tell them to marry the house and not the rate, because the rate goes up and down. We can refinance that within six months, right, like six months. You could refinance-- actually, you could refinance right away, because there's no waiting. OK, so there you go. So rates change every day. Every hour, they're changing. Like the stock market, they go up and down. Right. And the feds have already announced that they will be lowering the rate. So we know it's coming. But the problem with waiting is that now you're about to jump into the pool with everybody else. Right. So once those rates go down, just imagine so many buyers are going to come trying to find homes. And then you're going to end up overpaying for a house. Absolutely. When, you know, right now, you could possibly find that home and not be rushed, because there's so many different buyers out there outbidding you. Right, because now, right now, all my clients, though, all my buyers that I have right now that are looking in the Southwest community, they're already experiencing that. Right. I mean, there are no homes for sale over there. Right. You know what I mean? So when you do find something decent and pretty, guess what? Everybody wants that property. So now there's like five people that have already put offers in on the properties in the Southwest and Henderson. Right. You know what I mean? So it's already happening, you guys. The writings in the wall, they've heard me preach and preach and preach for the last year, since the feds actually raise rates last June. As soon as that happens, so it slows everything down. Now, you get to pick your home and not fight somebody for it. I know that me and my team, we're negotiating you a great. So like the majority of my clients, they still don't have today's rate, because I didn't put them in that. Me and Anthony put them in a 3-1 buy down that I negotiated from the sellers, which can you negotiate closing costs from sellers right now? Sometime, just switching the location. Yeah, location. If it's the Southwest, they have multiple offers, they're not going to be. Exactly. Yeah. So for the most part, there are some out there that are still paying the closing costs contributing to the buy down. So you do have some out there still. And the builders right now, that's going to go away quick, you guys, listen to me. As soon as these rates go down, these builders already have waiting lists right now. And it's starting. They already have. Yeah, they have waiting lists right now. So as soon as those rates go down, there is no reason that this builder is going to want to give you any closing costs or need to. For what? He's got people banging down his door to buy his product. So why would I contribute towards your costs? It's going to go away. So with me, I'm selling my property, and I'm going to take the equity that I have, and I'm completely transparent on this station. All my KUNV listeners are basically like my family. (laughs) So I'm going to walk away with about 200,000, maybe a little bit more. Because within the next six months, once those rates do come down, when rates come down, what goes up? Prices, that's right. That's what everybody doesn't seem to get. When the rates go down, the prices of the homes go up, because we are in a shortage of homes, okay? So if I know I have a home for sale, and I know that I'm going to have 20 offers on my house, I'm going to hike that price up. It's in high demand, right? It's only common sense. So I'm going to go ahead, dump that. So let me give you the numbers. I'm going to take the 200,000 I'm going to make. I'm going to dump it towards my new loan, which is going to probably be around 700,000, right? So now I'm only financing 500,000, which makes my mortgage more affordable. I get rid of the mortgage insurance premium, which is, as long as you put 20% down. So now I get rid of that, because I'm going to put over 20% down on the property. So that makes it affordable for me, and I get to choose my own home right now, right? And I can negotiate some great terms for myself right now. I know, so I'm not listening, guys. I'm not just preaching this, I'm walking it out. I'm doing it myself. Right, Alexis? - Absolutely. - Because if I don't do it now, I know I'm going to lose that negotiating power. Nobody's going to give me money to buy my right down. The seller of the house that I want is not going to be, you know, prone to give me any cash towards my closing or towards the right right down. - Right. - He won't need to. - He won't need to, yeah. - So I'm jumping now, you guys. I'm jumping out there in that water right now. (laughs) So that's what we're doing right now. But yeah, so if they want to list their property, they can do that. Now, if you don't want to list your property, Munique, I see that Vegas is on the rise. You know, Sony just got approved. They're about to buy all that land over off a 215, a town center. You know, Sony's coming here. You guys, the movies are coming here. So many different things are happening in Vegas that have never happened. That's why I don't understand when people say, you know, it's so funny. You hear, like for years, they've been saying, oh, we're waiting, we're waiting for the big crash. We're waiting for all this stuff to go down. And guess what, guys? Everybody that you work with that said that, they're still waiting and it has not happened. I don't mean to be a smarty pants, but hey, guys, look, while you waited with them, everything went up on you. - Absolutely, yeah. - And that's what's gonna continue to happen. There is no sign of what would make things come down when we've got everything coming here. You know what I mean? California's pouring into here. - Right. - You guys have heard me say, this is becoming the new little LA. The prices are matching that too. - Sure is. - Right. How much change have you seen in your real estate career in the last five years even, Lexus? - So much, so much, especially with just the prices have gone up tremendously. I sold someone home two, three years ago that had been able to sell it with me just recently. And they're about to walk away with almost 200,000. - And that was off of two or three years. Two or three years they owned. That's why I don't understand people say, well, I'm just gonna rent and then I'm gonna wait. Well, while you're renting, you're flushing every rent payment down the toilet. You're making zero when you could be owning and gaining equity and making money. So now it's, you know, making money. Right, you're building well. You know what I mean? So I don't understand why you would want to pay somebody else's mortgage for a year if you're in a position to purchase. You guys, this is Monique Buchanan. If you want to reach me and get the process started, I'm buying a home, 702-984-3700. 702-984-3700. Welcome home with Monique.com is my website. And at real-term Monique Buchanan, B-U-C-H-A-N-A-N, is my Instagram. Now let's talk about some of these down payment assistance programs. Yes, you heard me guys. Yes, you can use a down payment assistance program. In fact, you're thinking about putting your clients in a down payment assistance program so they can hold on to the savings that they have. Is that correct? - He's looking into that right now and that's because rates are so high and he'll be able to keep his reserves so that he don't have to use that. So that down payment assistance will cover his closing costs, his buy down, some of his buy down. And then he can hold on to the money he has as a reserve in case he needs it. - That's fine, okay, so he's doing a little different. You know what I mean? So with the 3-1 buy down that I've been putting all my clients in, basically it makes their payment like really low for the first year, the second year. And then the third year, all the way through 30, it's a fixed payment of whatever they would have gotten today's rate, right? But we're banking on, it's not gonna take three years before they're able to refinance, right? - And it doesn't, it won't come from him, it's coming from either the lender or the seller. - Exactly, so that's what we've been doing with my clients but I see what he's doing. He's saying I'll take today's rate with a higher payment but I will subsidize that with the savings until the rates come down and I'm able to refinance. So if I need to pool a couple hundred out every month out of those savings until the feds do lower the rates then that's fine, I'll just do it that way. So that's just a different option. They also have down payment assistant, well he's gonna probably use one of those to cover all his costs. So there are some you guys out there that I used to talk about them a lot, I'm talking about them again now because they finally made the rates very close to today's rate. Before a couple months ago they had hiked the rates up on these things and it just didn't make sense for me to even discuss them. But if you're not in a position where you have a 401k that you can pool from for your down payment or you don't have savings, you just need to get into home ownership before this vote passes you by. There are ways to do so through what we call a DPA. They have some for first time home buyers. There's quite a few that we are very well versed in and can guide you through. One of them, there is an income base at 90,000. It gives you 2% or 4% towards your down payment or your closing costs. So when you purchase a home you guys, you're normally gonna put 3.5% down if you're a first time home buyer. So what this means is if your down payment is $15,000 that's 3%. They're gonna give you 2% of that. So you'll only pay 1% of that $15,000, okay? Does that make sense? So that's basically they're almost covering the whole thing. Or if you do the 5% they're gonna completely pay the $15,000 for you and give you 2% towards any other costs that you need to have taken care of. Because when you also purchase you typically have 3% in closing costs, if you're not using a realtor like myself or Alexis and they don't negotiate the closing costs for you, right? So if you come with a welcome home team you'll be taking care of 'cause we do negotiate closing costs. But if you're in the Southwest area for instance and you do need to go ahead and take care of your own closing costs because the home is sought after, there you go. They're giving you basically your closing costs and your down payment pretty much covered. Okay, so that's less money out of your pocket. You're gonna go from having $15,000 to what a grand total of probably $25,000 with down and closing to maybe paying $5,000 for your home out the door because you use this down payment assistance program, okay? Now, that's a first time home buyer. What that means is you cannot own a home currently. Basically, if you've been renting for the last three years, congratulations, you can use this down payment assistance program, especially in if you don't make over $90,000, okay? Now there is another one. You can make up to $140,000 a year, all right? And this is per person and you don't have to be a first time home buyer. You just cannot own a home here in the state of Nevada. So if you own a home in Texas, you own a home in Florida, that's fine. You just can't own a home here in Nevada and they'll give you 2% or your choice of 5% for your down and closing costs. So they will cover these costs for you, okay? So for more information on those programs or if you're ready to get started at home ownership, you need guidance, you need to know, you know, how can I get into a home? I don't have a lot of savings. My credit is over 640 and I've been on my job for two years. It does not have to be the same job, okay? You could have switched jobs. I just need you to have been employed for at least two years, you guys. This is Monique Buchanan, this is the welcome home team and you can reach us at 702-984-3700. Okay, my seller's, my seller's. Listen up, like you've heard me say, there's very little out there, you guys. Let me go ahead and give you a couple of my listings. Brand new listing 42-19, Winstone. There will be an open house this Sunday, my birthday. Between 10 and 12 PM, it is a single story home, completely remodeled with a pool and also a mini golf course. They actually thought about putting it on Airbnb at 1.42-19 Winstone, three bedroom, two bath, a little over 1,300 square feet. Another one, brand new listing, 29-13 Bridleton. This one is also completely remodeled and it is priced under market at 414,000 and that one is completely remodeled 29-13 Bridleton and the last one is 62-80 Highland. Also under value at 409 is under the comps, I should say. And that one is giving $10,000 towards your closing cost, 62-80 Highland Gardens. Alexis, you have a listing coming up as well, right? Yes, I do, I have one coming soon and this one is located in East Las Vegas. It is a three bedroom home, two and a half bathroom and it's a single story, 1700 square foot. And don't worry, all these properties will be uploaded on my YouTube channel, welcome home with Monique. And let me just go ahead and say thank you so much for listening and thank you Alexis for coming on and thanks to all of our baby girls. And you guys have a blessed weekend and glory be to God. Thank you for listening. Please remember, all terms discussed are simply an estimate. My license number is S178846. My phone number, if you'd like to contact me, is 702-984-3700. You can also find me on YouTube and please join me tomorrow at my church Living Word Church on Hassel. I am part of the EXP Realty Group.
