The Southern Nevada Real Estate Show

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This is a KU NV studios original program.

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You're listening to special programming brought to you by ragana Cooman, 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. You

Regana Kooman Henry 0:37
You welcome to the Southern Nevada real estate Show. I'm your host, ragana. 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 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. In just a moment, I will be interviewing Kirsi mbaki, who is a loan officer with the loan depot mortgage company. She's also a repeat guest on our show when other lenders say no, many times, Keirsey at the loan depot can tell you yes to qualifying, and she will be talking about employees that have tips as a large source of their income, and how tip employees are able to qualify for a mortgage loan in order to purchase a home, and other various situations that you may consider challenging to qualify for a home. However, we have got the mortgage expert in the house today, and then later on in the show, I will go over information for buyers and sellers, including how as a seller, you can get needed repairs and improvements done on your home before the home even hits the market for showings to potential buyers, without you having to worry about paying for the repairs and Home Improvements until the home is sold through the seller's closing proceeds. That's right, you don't have to worry about paying for the repairs until the home is sold. I will also be going over the real estate stats for June in Southern Nevada. And good morning everyone. I hope everyone listening this morning is having a great Sunday. And today I have a very special repeat guest, as I mentioned on my show. Here's the mbaki, who is knowledgeable and experienced loan officer that can, many times, tell you your proof, like I said before, for a home when other loan officers may have told you no once again, welcome back to my show. Kirsi, all

Kirsi Mbacke 2:53
right. Well, thank you. Regan, it's always a pleasure to to be on your show with you, and you know, help spread knowledge to to our listeners

Regana Kooman Henry 3:01
out there, definitely, definitely, and, you know, and I'm regana, your neighborhood realtor, and today we're diving into real stories from clients who once believed owning a home was just a dream,

Kirsi Mbacke 3:15
right? So I think that we should title this segment opening doors. What do you think? Rihanna,

Regana Kooman Henry 3:21
I think that's an appropriate title. You are opening door. Doors. Kirsty, many doors. I've seen you open for clients that I brought to

Kirsi Mbacke 3:29
you. I appreciate that and you as well. So I kind of want to just go, you know, tell some stories of some clients that kind of have touched my heart a little bit and maybe had some struggles. So let's start with this young man, and his name was Nigel. He had good credit, you know, but he was self employed, and he didn't really think that he would ever qualify for a home, you know. He sure he was a really hard worker, you know, but saving for the down payment was just really kind of out of his reach. You know, he had two young girls, and one of those girls has a debilitating illness that requires, you know, him, to take many trips to doctors offices and just constant care for for the little girl. And he came to me, and, you know, he was, like, curious. See, I just, I just need, I need your help. How are we going to make this work? You know, he had the opportunity to purchase his grandmother's home, you know, his his father's childhood home, and he really desperately wanted, you know, a way to make make it work, and, you know, to give his girls a home of their own, and then also keep the home in the family. So we were able to get him qualified, and we used down payment assistance, and he was able to make that dream a reality.

Regana Kooman Henry 4:48
Wow, that is really touching and amazing. And I'm sure he was so happy and seeing their excitement walking through that front door and handing them the keys. It's moments like that. Which make our jobs just so rewarding. Oh,

Kirsi Mbacke 5:04
yeah, for sure, for sure. So next, I kind of want to switch gears a little bit. I had a client, Maria, and she was a single mom, and she, she was working two jobs, and she, she had been to a couple different realtors, and she really felt overlooked by them, you know, because she'd only had her second job for one year, and they were all telling her that she needed to have that second job for two years, or they couldn't count that that income, you know. And she'd worked really super hard to save up as much money as she could, you know, being the single income and taking care of those kids, but we found a way to get her approved for the amount that she needed to secure a home for her and her two boys. And today, I'm happy to report that they're they're living there happy. She's building equity and confidence.

Regana Kooman Henry 5:56
Wow, that's that's amazing and very, very enlightening. And, you know, it makes you feel like there's hope for people out there, you know, and you know, and I found her a charming four bedroom under the radar, and weeks later, that house turned into her forever

Kirsi Mbacke 6:15
home. I know it was, it was a great that was a great, great story. Yes, with teamwork, yes, that's it. Oh, then I've got the Gallagher family. So the Gallagher family, they came to me, you know, they had kind of shaky credit and some student loan debt. You know, we all know those student loan right? Debts are starting to creep back up, and, you know, they're they're wanting to get them repaid again now. So, you know, we have to count that in their debt to income ratio. And so they thought, you know, they thought they'd certainly never qualify with with the combination of those two things, or Yeah, but, you know, through tailored budgeting, and we did, like a credit repair strategy, and we used a special loan program, you know, for first time home buyers, we were able to make their first home become a reality, and this was right around Christmas time, so they were able to spend Christmas with their boys in in their very first home. And we had actually, on this one, made the close date on Mr. Gallagher's birthday, his wife had called me and said, hey, it's his birthday on this date. You know, it would be really super special for him, is if we were able to close on our new home, and it was a few days ahead of the scheduled closing. But, you know, we worked with the listing agent and the selling agent, and we were able to make that happen for them.

Regana Kooman Henry 7:37
Wow, that's a great Christmas and birthday present combined. Kiersey, right? Yes, it's a it's a double, double celebration. What better way to celebrate Christmas and a birthday is a new home? Oh, absolutely, right, right,

Kirsi Mbacke 7:53
absolutely. So I'm gonna share this, this story. And you know, I think it's a very powerful story of divine intervention. And you may not believe in divine intervention, whatever higher power you believe in, I think that this story plays into that. So I have a friend, and she lives in Utah. We've been friends for forever, over 20 Over 20 years. So she likes to come to Vegas couple times a year, and she likes to go down on Fremont Street and listen to those, those 80s hair bands, I guess is what we'll call it, 80s hair bands, right? So, you know, she's just a super friendly type. Her personality is super friendly, you know, like they say, she's never met a stranger. You know, she makes friends with everybody she meets. So she was, she was down, this is probably about a year and a half ago, and she was down listening to one of the bands, and she was standing next to a little lady named Irene, and they, they started up a friendship, and they got each other's phone numbers, you know. And then when my friend would come down. They would, you know, hook up and go, go down to Fremont and watch these bands together. So I should also mention that my friend is, she's a realtor in Utah. Okay, so Irene had been living here in Las Vegas in an apartment with her son, who is, who is also autistic. He's a, he's a grown, a grown son, but He, he's autistic. So he lives with her, right? And they've been in this same apartment for about eight years, and she got a call from her landlord, or not a landlord her the owners of the property, so I guess landlord, and they said, You know what, we are going to be selling the condo. And, you know, we're retiring, and we want to, you know, we don't want to own the condo anymore, so we're going to be selling it, and we're going to need you to move in 45 days. So poor Irene, you know, she's on a very tight budget. And you know, she gave my friend a. Call to ask for some advice. So my friend says, you know, have you ever thought Irene maybe about about buying and not just renting something else? And you know, Irene is like, oh, yeah, no, that's never gonna happen. I'm on a budget. I have limited funds. You know, she's like, You know what? Just give my friend Kiersey a call. If anybody can help you. Kerosene can help you. So, you know, if she's true, she says no, then then get an apartment. But if she says yes, you know that might be so beneficial to you, right? So, so Irene called me, and we did the application. We went over her income, and you know, she had decent credit, and she had saved up a little bit of money, and we were able to get her qualified, and so we found her and her son just the perfect little home for them. And Irene favorite color is purple. I know we're gonna so one of the walls in the bedroom was purple. So Irene said, You know what, this is my house. The purple sealed the deal for her, right? So the payment on her new home was only about $100 more than what she was paying in in rent currently, and that included the HOA. So Wow. You know, we were able to make that happen for her. And you know, I'm gonna say this is probably one of the most fun closings that I've ever been to. So I met them at the title company. They were super early because they were so excited. Her and her son were sitting at the title table signing, and they, I swear, they giggled at every single time they sign their name.

Regana Kooman Henry 11:46
Wow, that sounds so fun. Yeah, it was. It was

Kirsi Mbacke 11:49
great to see them just so happy and so appreciative, you know. And I, I'm not gonna lie, I might have shed a tear or two on that one. I'm

Regana Kooman Henry 11:57
sitting here trying to hold my tears back. That was a very touching and wonderful story of what can happen to some listeners in the audience that might think that it's impossible to own a home too. So, right, right. So never give up. There's a home for everyone. And there were definitely some forces at work on this that one Jersey, and I'm sure they they will be forever grateful they were able to purchase and keep their payment down when rent would have just continually went up without the, you know, rent control, and that can be a lifesaver for those on a fixed budget and you know. And how about any clients that, let's say, Were move up clients. Kiersey, okay,

Kirsi Mbacke 12:41
so that does bring, bring to mind one that I just did, you know, not too long ago. So I have this cute little family, the Rodriguez family, and they're just the sweetest couple, you know, very young couple with a very small child, and they had moved to Las Vegas from Colorado, and they came to me and they were wanting to buy a four Plex. You know, they had a very detailed plan on, you know, how they wanted to go about getting a home, and you know what their plans were. So they were going to buy a four Plex, they were going to live in one of the units, and then they were able to collect rent on the on the other three units in this four Plex. And, you know, this would, this the plan that they had devised for themselves. This would allow them to have extra income, you know, for their young and growing family. So we, we got them into the four Plex with only three and a half percent down, and the seller on this particular transaction paid for the closing costs. So they only came in with three and a half percent down right, and then the rent from the other three units. It was more than enough to cover the payment and allow them some to put away extra money, save extra money. So, you know, that was a couple years ago. They came to me, probably the beginning of this year. And, you know, here they come with their their child, and then they have another child, another

Regana Kooman Henry 14:07
one on the way, yes,

Kirsi Mbacke 14:08
right? And they said, kerosene, we've got to get a bigger home. You know, our family is growing, and we're in this little, little apartment, and we've been there for two years. You know, it's time, right? So they had been able to save up enough for the down payment for a single family home. They're still keeping the four Plex now they can rent out the other unit, which is going to be even more income, right? So for rental units, instead of the three and so they found the perfect home with a pool. They were so excited. You know, the house needed a little a little updating, not nothing too crazy, you know, maybe some paint and some new flooring or something. But so they were able to get that home for 10k below appraised value. And then the seller also paid for their closing costs on this one, and they even had a little extra money that they were. Able to use to buy down the interest rate, which makes, you know, the main the monthly payment, more affordable, right? Wow. So, I think she sent me a little video the kids, they were staying with their grandma, and they, you know, they brought them home and said, Hey, we're gonna go look at this house maybe one more time, you know, because the kids had seen it the first time. They just didn't know they were buying it. So they, you know, went in and decorated a wall. Welcome to your new home. And then they brought their kids in there, and they walked around, and the kids faces were just, just price. Oh my gosh. They were like, looking like, what? What's going on? They were so excited, right? And a pool just in time for summer, right? Because, right, we're gonna, I don't know about you, but it's hot out there.

Regana Kooman Henry 15:47
Yes, I'm ready to dive in right now, right?

Kirsi Mbacke 15:51
Yes, yeah. It was just, it was a really touching it was a really touching video that

Regana Kooman Henry 15:56
sounds like it very touching indeed. And building generational wealth is such a great benefit of home ownership, right? I think I recall that you helped a few veterans that were turned down by other lenders, including clients that I had. Is that correct? And can you tell us about

Kirsi Mbacke 16:17
those? Yeah. Oh, absolutely. So you know, I know that veterans are very near and dear to your heart, as they are mine, you know. And I recall this, this one, she was a single mom, and she was in the Army Reserves, you know. She she was in contract already on a home that she had found that she liked. She had done all the inspections. She did the they had an appraisal done, and it was about a week out from the closing, and the lender declined the loan because they didn't want to count some of the income that she was getting. So the listing agent is, you know, we had, we're acquaintances, and the listing agent remembered that I had some extensive knowledge of the VA loans, and just gave me a call and kind of went over the scenario to see if there was anything we could do. And which is great, because the listing agent, you know, she could have just said, Oh, they declined the loan. We're putting it back on the market and move on. But, you know, she she didn't want this little single mom who also, by the way, was deployed at the time, you know, to lose out on this house and all the time and money that she'd already invested in it, right? You know. And then, not to mention her son was, you know, fairly young, and he was just going to be so disappointed he'd already picked out his room, and you know how he wanted to decorate it, and you know it would just been sad all around so I had them send me over the paperwork. I looked at it, and I was able to get the loan done and closed in a week. So I think we only went over the original close date by, like, maybe two days. Oh, okay, that's great. So yeah, that one was a, was a happy ending. Very happy ending. And then I also had an older gentleman, and he, he had some credit issues. Most of it was, you know, in the past, a fairly recent past, but in the past, and it was really due to just some medical issues that he was going through. And, you know, it just resulted in a credit score that wasn't quite optimal. And he'd gone to a couple different lenders, and he was turned down by them, you know, before, I think he came across the loan depot VA website, and, you know, he kind of just figured, well, I mean, I got nothing else to lose. I've already been turned down twice, right? But anyways, he gave us a call, and we were able to get an explanation of the extenuating circumstances, you know, with the credit, and we were able to get get him in his retirement home, get him approved him and his cute little bride. And, you know, just the smile on their faces was, was priceless. So, you know, you really want a lender that's going to take the time to ask questions, right? Because these other two lenders could have probably got this loan done, but they didn't bother to, you know, dive deep and say, Hey, what's going on here? What's the explanation for that? Right? It really was as simple as that. So you turned it around, and we turned it around, and now they're in their their retirement home, and they're, they're so very happy. Yes, you know. And then, speaking of that, I know that we've had a couple of questions about foreign nationals wanting to purchase in the United States, and yes, we do have a couple of programs that we have if they are interested in in purchasing. We do have some programs for foreign nationals. So good

Regana Kooman Henry 19:53
to know, because there's people all over the world that have an interest or a curiosity or a serious interest in. Investing or moving to Vegas, even if it's just a vacation

Kirsi Mbacke 20:04
home, right? Vacation or investment, you know, we can, we can make that happen for them exactly. So, you know, it's just really success stories like like these that show you know whether you're recovering from credit missteps, if you're buying solo or you're just simply unsure if you know it's even a possibility for you, you you can own a home, and we're here to break down those barriers for you, and you know, put together a solid plan to get you approved, to make that dream a reality for you.

Regana Kooman Henry 20:35
That's great. And if you're out there listening, we want to hear your story. So let's open that door together that you may think is closed. It is possible with with a team effort and Kirsi, thank you so much for all your information. And do you mind sticking around at the end of the show and giving your contact information? Trice, and I'd like you to give your contact information right now and say your phone number twice. Okay.

Kirsi Mbacke 21:01
Oh, absolutely, absolutely. So I am Kirsty mbaki with the loan depot, and my NMLS number is 1398336, my phone number you can reach me at 702-322-0421 again, 702-322-0421

Regana Kooman Henry 21:21
Well, thank you so much, Kirsi, and we're going to have you back, and you know, in just a little bit. And I'd like to tell you a little bit more about the program. Many of the listeners already know, because I always bring it on my show. But for sellers, there is a program that you can ask about that if you have improvements, or if you need repairs done on your home, you know there's you can save money, because you don't have to spend a dime until after your home is closed and through the sales proceeds of your home. And if you'd like more information about this program, my number is 702-590-6126, and 025961267, that's 702-596-1267. Because let's be real, people do want a home that they don't have to do a lot of work to these days with everything as it is, with higher interest rates, prices, even though they've come down some, they're still higher. So this is a good program to make sure you can get the top market dollar for your home. And again, my number for that is 702-596-1267, that takes the load of you thinking you can't afford to sell your home because you don't have the money to do the repairs or improvements on your home. And on another note, I like to talk about a new listing that I have in the southwest. It's being prepared for showings. It is a four bedroom, a two and a half bath, two car garage in the southwest area, not far from Durango station, and any amenity you can imagine. And it also is at the end of the cul de sac, and it's just under 450,000 it has a yard covered patio home warranty. And again, for more information on this, my number is 702-596-1267, now let's get into the real estate stats for June, for Southern Nevada, there were for single family homes. There were 1900 46 homes that sold. $485,000 was the median price of homes sold. There were 3252 new single family home listings. 519,900 was the meeting price of new listings. $550,000 was the meeting price of all available single family home listings, excluding offers and 61.4% of all homes went from available to under contract with the buyer in 30 days or less. Now I'm switching to condos and townhomes. There were 515 condo townhome combines that sold in June. $305,000 was the median price of all condos and townhomes combined that sold. There were 926 new condos and townhome listings combined, and $297,000 $297,500 excuse me, is the median price of all condos and townhome listing combined. And 279,900 is the price of all available condos and townhomes combined, both new and not new on the market, excluding offers and 50.7% of all condos and townhomes that sold combined went from available to under contract with the buyer in 30 days or less, 30 days or less. So things are still moving. They're kind of moving like. More at a little bit slower pace than they did. It's not taking, like, one day to two weeks like we got spoiled with. Now, you know, we're talking, you know, 4560 days, sometime, sometimes less, but it is a little bit more on the market. Properties are a little bit staying longer on the market, but that's okay, they're still selling. And I would like also to thank one of my great veteran clients. His name is Ricky. He had purchased his first home and closed on it just a few weeks ago. So thank you so much, Ricky, you have a beautiful new home, and I I hope and pray that you have many happy years you and your family in your new home. And was a pleasure working with you. You were such a great client, you and your family and I wish you much happiness and many years of happiness in that beautiful new home of yours. And Kiersey, could you please go ahead and say your name, company name and phone number for the listeners, in case they had not written it down earlier,

Kirsi Mbacke 26:07
yes, of course. Thank you, ragana, thank you. Thank you for having me on the show. So I am kirsie mbaki with the loan depot and my animal s number is 1398336, and you can reach me at 702-322-0421 again, that number is 702-322-0421

Regana Kooman Henry 26:30
thank you so much. Kiersey, it's always a pleasure with all your knowledge you have with mortgages, and it's always, always, always interesting your stories and things that have happened for both of us in this business. I've given you clients that I've thought that would never work out, and you've just turned them around. And you know, I mean, hey, you know you're you know your stuff, that's all I can say. So I appreciate that, yes. And for the listeners out there, don't be discouraged, you know, like we've been talking about if you've been turned down, or if you are a tip or tip earner or a possibly self employed person, and you think, oh, you know, I probably need to wait a few more years. There might be a plan for you where you don't. There's always new programs coming and going and things that you might not be aware of. So instead of giving it up again, my number is 702-596-1267, that's 702-596-1267 and I am ragana Cooman Henry with Coldwell Banker Premier Realty, your host 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, you can follow me on Facebook, Instagram, Tiktok and YouTube. Thank you so much as always, for listening to my show this morning, and I wish Everyone listening a great Sunday And a great week. You.

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