The Southern Nevada Real Estate Show

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This is a K-Unb Studios original program.

Wesley Knight 0:04
You're listening to special programming brought to you by Regana Coom and Henry of Coldwell Banker Premier Realty. The content of this program does not reflect the views or opinions of 91.5 Jazz and Moore, the University of Nevada Las Vegas, or the Board of Regents of the Nevada System of Higher Education.

Regana Kooman Henry 0:37
Hello, and good morning, everyone, and welcome to the Southern Nevada Real Estate Show. As always, I'm your host, Ragana, and I have everything from vendors to the lenders that's well versed in all types of financing. Have been around for even decades and decades. Don't want to give my age away. My goal is to educate the listeners every every month on each third Sunday at 8:30am of each month, and hopefully you take away some nuggets that will be valuable, and I love the opportunity to earn someone's business that's listening this morning and always, and my number 702-596-1267 that 702-596-1267 And just for anyone that's just listening, I've been licensed here in Southern Nevada since 1991 Went full time in 1995 I know I'm giving my age away now, and I pay a lot of attention to detail, because there's only one way to do a real estate transaction from A to Z, no matter who I'm representing, a buyer or a seller, without taking shortcuts, it has to be done the right way, not the short way. And again, some of my credentials are I am a quality service award winner, and I am a member of the Veterans Association of Real Estate Professionals, just to name a few. Now, let's get started this morning into the show, and welcome again to my show. Again, good morning. Good morning, and whether you're thinking about buying your first home, for example, or moving up to your dream home, downsizing, relocating, investing, or just simply curious about what's happening in our local real estate market, you've come to the right place this morning. I've been helping buyers and sellers for decades, so hopefully you will take away something, even if it's one thing this morning. And again, my number is 702-596-1267 And today's topic is one that may surprise many people we're talking today about why today's market may actually be one of the best opportunities that we've ever seen in years for both buyers and sellers, and if you've been sitting on the fence waiting for the perfect time, you may be missing some opportunities that exist right now, let's go into why buyers have more power today than they did a few years ago. For several years, buyers were competing against multiple offers, homes were selling immediately at record speeds, buyers were doing things like waiving contingencies, like loan contingencies waiving their appraisal rights, and often, often paying above asking price out of their pocket for whatever it doesn't appraise for. And today's market is just the opposite. It's very different. Buyers now have something they haven't had in a long time. Guess what, that is choices. There are more homes available for sale right now. That means buyers can take their time, compare homes, and yes, they can negotiate, ask questions, conduct home inspections, and can often negotiate terms that simply weren't available during the seller's market. Now, what kind of things can buyers negotiate today? You might be asking, they may negotiate a lower price, purchase price, seller paid closing costs, interest rate buy downs. Yes, you can make the interest rate whatever you want, if you or the seller pays for that rate buy down on a 30 year fixed. Also, repair credits, home warranties, extended closing time timelines, shorter closing timelines. Excuse me, furniture and appliances, e. In some repairs before closing that were found in the home inspection, you can negotiate in today's market, and many buyers are shocked when they discover that sellers are often willing to work with them to get a transaction completed, not like a few years ago when sellers named their price, whether it appraised or not, and actually got it. And this means buyers have an opportunity to create a customized deal that works best for their family's financial situation, and that's powerful. And again, my number: 702596126770259 77025961267 Now let's talk about the cost of waiting for buyers. One of the biggest mistakes I see buyers make is the waiting. Many people say, I'm waiting for those interest rates to come down. I bet they'll come down to three or 4% any day now. They're waiting for prices to drop further, waiting for next year. But here's what many people don't consider: when rates eventually go down, what do you think is going to happen?

Regana Kooman Henry 6:18
There's going to be more buyers like yourself that enter the market, more competition returns, multiple offers increase, negotiated negotiating power decreases because there's too many buyers now, and inventory gets absorbed faster, homes get bought up quicker, and in today's, and today's buyers are shopping in a market where competition is lower than it has been in previous years, so that means today's buyers may actually be getting a better overall deal, even if the interest rates are higher than they would like to be. Remember, you can always refinance a mortgage to a lower rate, but you cannot refinance the purchase price you buy the property for. And buying the right home at the right price today can create long-term financial benefits, and again, if you'd like more information on what I'm talking about, clarification, or a one on one appointment, my number is 702-596-1267 That's 702-596-1267 And let's flip over to sellers for a minute, and why today's sellers still have opportunities. For example, many homeowners think I don't want to sell because I have a low interest rate. Well, I understand that concern, but here's what many homeowners are overlooking. Most Southern Nevada homeowners have accumulated substantial equity, especially a few years ago, especially around the pandemic. Once that pandemic hit, few years later, they increase equity tremendously if they purchase in that, in those years. So, and many homeowners have seen their home's value appreciate dramatically over the years, and that equity can become a powerful, powerful financial tool. For example, maybe your children have moved out and your home feels too large, maybe you're tired of maintaining a two-story home, maybe you want a single story, one story home, maybe you want to be closer to family, maybe you're ready for that luxury home, or maybe you're retiring and want less maintenance instead of more maintenance, so whatever your reason, your accumulated equity may allow you to make a move that improves your lifestyle while still maintaining strong financial positioning in our market today. Okay, and let's talk about something else. The upsize opportunity. Let's talk about homeowners who want to move up. Many homeowners are surprised when I show them the numbers. Let's just say someone purchased a home several years ago, several years ago. Okay, and their home may have appreciated substantially. They now have a large amount of equity today because buyers have negotiating power, that same home owner may be able to negotiate a better deal on the larger home they want to purchase. In some cases, they may negotiate price reductions, closing cost assistance, interest rate buy downs. Repairs, upgrades, home warranties. The reality is this: if you're selling and buying in the same market, you're often selling high and buying under more favorable negotiating conditions, because sellers still have quite a bit of equity, no matter that the prices went down, and you'll get a good deal on the other side, because price and prices have gone lower, and this can create advantages. And again, my number is 702-596-1267 that 702-596-1267 Now let's talk about downsizing. Many Southern Nevada homeowners are living in homes larger than they actually need. Maybe they have four bedrooms and only use one. Maybe they have a large backyard they no longer enjoy maintaining. Maybe they have stairs that are becoming more difficult, and downsizing can provide several benefits, for example, lower utility bills, lower maintenance expenses, reduce cleaning and upkeep, possibly lower property taxes, and potentially lower homeowner insurance costs and greater convenience. This is just to name a few things, and in many cases, homeowners can free up a substantial amount of equity that can be used for travel, retirement investments, humping family members out, paying off debt, creating additional financial security, and sometimes downsizing isn't about getting less, it's about gaining freedom. Real estate, it's about lifestyle. I always tell my clients, is this real estate isn't just about interest rates, it's about a lifestyle, it's about a family, it's about goals, it's about creating a life you enjoy, and if your current home no longer supports the lifestyle you want, it may be worth exploring your options, and if you'd like a complimentary market analysis on your home, I would be more than happy to arrange an appointment to look at the house to see what you owe and what your price point would be, and what you would net in your pocket for your next home.

Regana Kooman Henry 12:35
And again, my number is 702-596-1267 that 702596 702-596-1267 Now, many people assume moving isn't possible until we actually review that the numbers together, and once we look at their equity position, available inventory, financial options, negotiating opportunities, many will discover they are in a much, much stronger position than they realize. So, don't talk yourself out of the market until you have actual numbers. And again, my number: 702-596-1267 If you'd like to find out actual numbers for your house, and numbers to get you into your next house, no matter if you're upsizing, downsizing, moving away, or whatever the situation is. And again, let's talk about, like we have in my future shows, I want to talk about why professional representation truly matters now in a market where negotiations matter more than ever. Professional representation is just so, so crucial to the situation. A skilled realtor, as myself, doesn't simply open doors. A skilled realtor, such as myself, we truly negotiate, we protect your interests, identify opportunities, avoid costly mistakes. I protect your money as if it was my money. That's just how I am naturally. I'm a very open and honest person, I'm an open book, I'm very transparent, and at the end of the day, it is about the customer more than it is about me making a commission. Of course, this is my livelihood, but I do not take for granted my clients. I will represent to the very end, and if something doesn't look right, we'll start over again. To have as long of a career as I've had, I've had to uphold all my reputation, and this is who I am anyway. I'm a very honest person. I give 200% when I have a new client. And after more than 30 years in Southern Nevada real estate, I've learned that every market can create an opportunity, especially the one we're in. The key is understanding how to leverage and take advantage of these opportunities, whether you're buying, selling, downsizing, upsizing, relocating, or investing or investing strategy does matter and that's where experience does make such a difference. Now let's pause for a minute and get into the stats for Southern Nevada, and for you listeners that listen to me every month like clockwork, you know that I go over the stats for the previous months for Southern Nevada, and again, these are for resale homes, not new construction homes. So let's get started, and by the way, this is from the Las Vegas Real estate board, this is what they do every month, and they compile what the stats were for the previous month. So, let's get started. There were 2066 homes that sold in May. 490,000 was the median price of single family homes sold. There were 3309 new single family home listings. $520,000 was the median price of new listings. 550,000 was the median price of all available single family home listings, both new and not new on the market, excluding offers, this is all single family homes only, and 58.2% of all single family resale homes went from available to under contract with the buyer in 30 days or less, so the houses that have the right pricing to the market and the right presentation shows well priced accordingly to the market are the ones that have the fairest chance to be in that 58.2% number of homes going from available to under contract with the buyer in 30 days or less. Now I'm going to switch over to condos and townhouses, there were 509 condos combined and town homes that sold in May. 295,000 was the median price of all condos and town homes combined that sold in May. There were 951 new condos and townhome listings combined, and $287,000 is the median price of all new available condos and townhomes listings combined, and then 274,900 is the median price of all available condos and townhomes combined, both new and not new on the market, excluding offers, and 47.2% of all condos and town homes that sold combined went from available to under contract with a buyer in 30 days or less.

Regana Kooman Henry 18:17
So this concludes the stats for May 2026 last month for Southern Nevada, and if you have any questions, because they're the overall stats for the whole Southern Nevada area, it's still going to go by what section of town, what subdivision, what section of the subdivision you're in, so if you have any questions, or would like an appointment to explore what your price range of your existing home is, and what it looks like days on the market to get it sold for your particular neighborhood, I would be happy to be able to help you with that, and my number is 702-596-1267 that 702-596-1267 Any questions at all? There's no such thing as a silly depression, a dumb question. It's only silly or dumb if you don't ask. That's what I tell people. You, not everybody's a real estate agent. This is what I do. I take the stress and the and the load off of of you and give you the best experience physically possible to give in a real estate transaction and you, as we wrap up today's show, remember this: today's buyers have negotiating power, today's sellers still have significant equity. Those wanting to move up may find better deals on their next home, and those wanting to downsize may unlock financial freedom. Those willing to explore their options may discover. Or opportunities they didn't even know existed before they called me, and if you're wondering whether now is the right time for you, I'll provide a no obligation consultation and help you understand exactly what your options are, and I am a great listener, it's all about the client, not about me, and everybody has their own path, their own financial and real estate goals. And again, my number is 702-596-1267 Now, no matter if you're upsizing, downsizing, right now in the market we're in, I'll be honest, this is a long term investment. This is more of a long term investment than what we would call maybe a flippers market. This is something that you want to hold on to, not to say there aren't some good flipping opportunities out there, but with things the way they are, the market can go up, the market can go down. Just think of it as the, it's like science, whatever goes up has to come down, whatever goes down has to come back up, but if you're looking at real estate for the long term, and again, my number 702-596-1267 that 702-596-1267 25961267 Now there are some buyers out there that say, hey, I'll just wait till next year, and we've explored talking about that earlier. My thing is, if you wait for interest rates to come down, or whatever scenario to make it just perfect for you, you're waiting along with a million other people waiting, that's going to jump back in the market all at the same time, and the worst thing you could do is wait for that interest rate to come low enough and significant enough that to jump all back in the market ever, all the buyers coming out of the woodwork all at once, bidding on the same houses, because now there's not enough houses to entertain all these buyers that's been on standby, and guess what, that's when the market prices will increase dramatically, because now you have that situation where there's more buyers than properties, and that's what happens, just like when you go to the grocery store, when there's too much of something, it goes on sale, when it's not enough of something, the price stays the same, or it goes up, same thing with real estate, so waiting is not the option, unless obviously you can't afford it, and the lender said you need to wait, but don't be your own lender. A lot of people that are just buying their first home, or even not their first home, they've already disqualified themselves before even talking to a loan officer, or talking and talking to a real estate professional, as myself. So don't listen to what everyone tells you, listen to the experts. I'm an expert. I've been doing this so long, I know I keep giving that age away, but I've been doing this over 30 years full time. Okay, that's that's what I'm saying. I've seen all kinds of buyer situations, all kinds of seller situation. There's not too much that I haven't seen.

Regana Kooman Henry 23:36
So knowledge is power that will give you the opportunity to know if now is the right time or not. Some of these clients that I put through, buyer clients, I'm shocked how they've turned things around in a matter of weeks or months, not years, but weeks or months, because lenders know the legal strategies, the loopholes that you and I don't know, and again, my number is 70259612677025961267 and for sellers out there, I guarantee you nine times out of 10 you have significant equity even though prices have come down, and just depending on why you want to sell to downsize, upsize, or what have you, we need to work all the numbers to see if you're going to gain on, but on the buying side, or if you're still doing lovely on the seller side and the buying side, we just have to know for sure before you rule it out. Every market has someone buying, every market has someone selling, and it benefits these people that are buying and selling in all markets if it's the right time for them, and if the numbers work and are taking. Colored for them in a positive way, and again I'm Regana, and my number is 702-596-1267 That's 702-596-1267 Any questions is a good question. No such thing as a silly or dumb question. I welcome your feedback. I welcome your calls. This is what I do full time, no other job, no other career, just real estate. The past 30 years, my representation for each individual client, I always tailor it to that person, because not two people have the same financial situation or goals or stability, people's stability is different, even people just starting out, even people that, even if you've done a bankruptcy, even if you've had a foreclosure or a short sale, there is a time allotment that you can still purchase again and again. My number 702-596-1267 This concludes my show for this Sunday. And again, I am Regana 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 again 702-596-1267 and my license number is BS 27880 Thank you so much for listening to my show this morning, and I wish everyone listening, as always, a great Sunday and a great week.

Transcribed by https://otter.ai