Vegas Realty Check
Join host Trish Williams, one of the Top 25 Women in Real Estate, and co-host, Courtney Bohm, a seasoned loan officer from JFK Financial, as they dive into the ever-evolving world of Las Vegas real estate. With Trish's extensive experience in selling homes and Courtney's mortgage expertise, they break down the latest market trends, mortgage tips , rate updates ,insider tips, and real estate news. Whether you’re buying, selling, or just curious, Vegas Realty Check is your go-to source for insightful discussions on navigating the Las Vegas property market.
Trish Williams
Keller Williams Realty The Marketplace 702-308-2878 S.0175530
@trishlv www.trishwilliamsteam.com
Each Office Is Independently Owned and Operated
Courtney Bohm
JFK Financial , Inc. NMLS#:2008418
cbohm@jfkfinancial.com (702) 416-6918
https://www.jfkfinancial.com/loan-officers/courtney-bohm/
Vegas Realty Check
Navigating the Vegas Real Estate Boom: Migration, Insurance Challenges, and Market Trends
What if the rising costs of living in California are paving the way for a real estate boom in Las Vegas? Join us as we uncover how migration patterns are reshaping the Vegas housing market, fueled by escalating fire insurance costs and a quest for affordability. Discover the impact of this influx on local property prices and the broader implications for homeowners navigating the evolving insurance landscape. We'll also spotlight Nevada’s auto insurance challenges, where high accident rates and uninsured drivers add a twist to the ongoing narrative.<br><br>Navigate with us through the latest market trends, from post-holiday listing surges to the strategic maneuvers of sellers adjusting prices. As interest rates take a slight dip, we'll provide insights into what lies ahead, influenced by upcoming Federal Reserve meetings. Plus, explore the groundbreaking I-10 loan program, designed to bridge the gap for those without traditional identification, and learn essential tips for solar panel maintenance and cost-effective mortgage strategies. This episode is packed with valuable advice, ensuring you're equipped to make informed decisions in an ever-fluctuating market.
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Welcome to Vegas Realty. Check your go-to podcast for all things Las Vegas real estate. Whether you're buying, selling or investing, we bring you the latest market trends, insider tips and expert insights to navigate the ever-changing Las Vegas realty landscape. Tune in each week as we break down the data, answer your questions and help you make the best real estate decisions in the entertainment capital of the world.
Speaker 2:Hey, las Vegas. Thanks for joining us back here at Vegas Realty Check, local Las Vegas real estate news. I am Trish Williams and I'm Courtney Boehm and we're happy to be here this week in Vegas. Gosh, what are we? The third weekend, third weekend, yeah, of the new year, and already it just feels like a lot's happened in the last few weeks that it has, yeah, opening up with some news. Just a highlight I guess this isn't in our paperwork here, but one of the things that's been I've been seeing a lot in the news is they're saying that, because of the wildfires in California, that they're expecting that that's going to put a big kind of stress on the Vegas real estate market, rental and sell market because they think that some people are going to move out here, whether it's temporarily or permanent, because of you know, it's going to take a while to rebuild California.
Speaker 3:I think you know, I think a few factors definitely are playing into that. One is I think some people are just scared right now to be in California in general, and you know there are still a lot of people that work remote, that have ability to move, and if they're not going to renew fire insurance or they're canceling fire insurance, I just don't know how sustainable it is to stay there currently. So I think we're going to see a lot of, unfortunately, price gouging and people taking advantage of that here.
Speaker 2:Yeah, and even if they do renew the insurance or they don't cancel it, the rates are going to be so high.
Speaker 3:I think I said this, maybe last week or I'm not sure, or maybe I told you, but I had clients from Laguna that moved here. You know they're retired, they're well off. They lived in Laguna for 30 years. Their fire insurance went to $20,000 for the year, that's crazy.
Speaker 3:That's higher than most of our property taxes, and this was about eight months ago, yeah, so I can only imagine now what that's going to look like, and I think it's going to if you can even get fire insurance moving forward in the next few years. Who knows how that's going to look, but I think it's going to just become really unaffordable for a lot of people.
Speaker 2:Yeah, I feel like we're getting in an environment where, like with the government, you know, and everything, they're kind of like like gutting everything that got like too big and too, like, you know, too meaty. I guess, too, there there was too many, too many people involved in certain things, you know they're they're starting to like look at this and kind of like gutted and start with the clean slate, and I feel like, at some level that needs to happen with insurance is because it's um, it's, it's just getting it, it's so I mean, obviously they have these costs, they have these things, but there's a point where it's just going to be the average person just can't afford insurance. So what's going to happen there?
Speaker 2:So, there needs to be a plan.
Speaker 3:And that's what you know those clients. They said you know, we worked our whole lives to get this house paid off and now we have another mortgage payment, literally yeah, and that's um, I don't know.
Speaker 2:There's got to be something that can be done about that um, but uh, hopefully, moving forward in future years, we're going to see something, um in regards to that. That's because even with auto insurance, you know it's mandatory to carry it but it's raising so much and so rapidly.
Speaker 3:It's really, I think, getting hard for a lot of people to afford certain things, and California has always been extremely expensive and, unfortunately, now I think it's going to be worse and I think it's going to be harder to get a home here. I do think it's going to be more expensive. The values are going to go up. And even you have friends in California that said they're probably moving out of here already.
Speaker 2:Yeah, yeah, no, definitely that seems to be a trending topic with a lot of people right now in California, and also, I mean, when it comes to auto insurance and things like that. I hate to harp on lawyers again, but I feel like some of this, like inflation that's happening in the insurance industry, is the lawyers are to blame for this. For any small thing, they'll sue the, they go after and sue the insurance for the max amount, and sometimes it's not necessary or necessary to do that or go that route, so I feel like that's part of it too.
Speaker 3:Yeah, and you know, even as far as auto insurance, I know I have a friend who has a brokerage and she said in the last few years there's a ton of companies that are pulling out of the state of Nevada just because of the accident rates and all of that.
Speaker 2:Yeah, yeah. And then the uninsured, the people that are driving uninsured, and then you know the driver has to go and go for their insurance for to get back to hold because the person that hit them or the person that was involved was not insured. And I see all the time um in the city which drives me nuts, um is people just driving around, no plates, nothing I see it all the time, don't even try, like not even attempting to try.
Speaker 3:I see it all the time. You're a very safe driver. I've drove behind you before.
Speaker 2:I am a slow driver people.
Speaker 3:I am a frustrating driver.
Speaker 1:I'm sorry.
Speaker 2:I never go above the speed limit. So yeah, i't. So yeah, I get lots of honks.
Speaker 3:That's good, you know. It reminded me that I need to slow down a little bit, yeah.
Speaker 2:A lot of people get frustrated honking, but that's okay, I try to stay safe. So also in the news Review Journal did a recent study and this recent study is forecasting that all of the land in Las Vegas will be sold out by 2035.
Speaker 3:Which is crazy and I think you know the market has changed completely to just all new builds. It almost seems like lately. I mean, how many new build construction is going up in the last two, three years?
Speaker 2:All over the Valley. All over the Valley, yeah.
Speaker 3:I remember 15 years ago, maybe even 10 years ago, you passed Red Rock and there was maybe houses for like five minutes, and now it's built out all the way past Red Rock. It's Red Rock Casino. It's just crazy.
Speaker 2:And they're proposing a new master plan now in Kyle Canyon, which is wow, so far out. But yeah, I think we're just stretching out to that limit and the Bureau of Land Management owns 80% of the land currently in Nevada. I do think that before we run out of dirt here, they're going to sell that, but even that, the land that they do own is not in the city.
Speaker 3:No, it's, and I actually did some research on it, but it's, you know, it's most of all the national or historic sites. They control a lot of like the you know, the livestock grazing and mineral development, things like that, and they're really trying to protect our land. But I did some research. It says they own 245 million acres of surface land and one-tenth of the country's land base.
Speaker 2:Wow, that's amazing, so is some of it totally livable.
Speaker 3:I mean, who knows where it is, it's probably out in the middle of nowhere. But at that point we're going to have to literally ask them to give us some land so we can build more, and that's yeah, and that's.
Speaker 2:I mean that that 80 is in all of Nevada, and Nevada if you go I mean Vegas, is just a little small piece of Nevada. If you go, like outside, even you're driving anywhere, he's just miles and miles of open land. Um, so I mean, I'm not sure if that's really. I feel like it's too far from the city. I mean, cities can stretch and grow, of course, but I think that what this overall is going to do is just make the values and the price of the land that's existing within the valley so much more valuable.
Speaker 3:And California is going to drive that market as well.
Speaker 2:Absolutely, and 10 years is not far away. That's going to drive that market as well. Absolutely, and 10 years is not far away. That's going to happen in a blink of an eye. So 2035 is right around the corner and that's what they're estimating will be completely sold out by. So yeah, no more new home market. We'll be in the resale market forever. I'm not necessarily mad about that.
Speaker 3:as a lender, you know we have our own feelings on new home builds, but for you as a as a realtor, that's amazing because they offer so many great incentives for us Not always, not always. Not always. Some of them do.
Speaker 2:Some of them do. Sometimes, when the new builders, they, they, they, just they have this like relationship with realtors where, like when they're when they have plentiful traffic and when everything's just coming in, they're like, oh, we don't need you to go away. And then when they're trying to get business, it's like realtor, be my best friend, of course, I think for us, as a lending standpoint, it's more so if they have in-house lenders.
Speaker 3:they can offer a lot that we can't, even though we try not to let people know that, but either way, you know's, that's where that feeling comes from as a lender standpoint yeah, no, definitely it's a.
Speaker 2:It's common knowledge out there. They have good, um, you know, buy downs and things like that and they can offer more, but usually their price per square foot is higher than resale. So you know, you're kind of there's give and take in everything, absolutely.
Speaker 3:So you just got to weigh it out and I I don't know if you've ever I've heard stories right I haven't directly dealt with it where you know they would offer all these incentives and then towards the end things would change on certain things as far as rate buy downs and things like that.
Speaker 2:I have heard of that yeah, sometimes, um, it depends on like how far they're out. If it's like standing inventory, it's a 30-day close or a 45-day, then they say, oh, we guarantee you this rate. But then if it's far out, like six months down the line or something.
Speaker 2:They say they'll give you a percentage towards your closing costs, but when it comes time to buy that rate down, it's not the same um, attractive rate buy down options that they have when they're trying to get you in quickly. So, yeah, no, um, always, uh, definitely some pros and cons of new construction for sure. So our inventory let's get into our weekly numbers that we do every week here on the show We've got some a little bit more inventory on the market.
Speaker 3:Yeah, I see that we're up 83 from last week. We have, as far as single-family homes on the market, 5,026.
Speaker 2:All right, that's good, and condos and townhomes. They're up 81 at 1824.
Speaker 3:I mean, do you think any of this has to do with what's going on with California, or this is just kind of no, I just think this is just January traffic.
Speaker 2:I think people were holding off till after the holidays to list and it's not a crazy number. I think it's very common for this time of year to see that little bit of spike New listings. We are at 1,048, which is up 123 from last week and we had 763 price decreases, which is up 113 from last week.
Speaker 3:So people are trying to get their house sold.
Speaker 2:Yeah, definitely. I think people are sellers at least are now understanding. It's like we had all the excuses last year. It was like, oh, it's not selling because of the election, it's not selling because we're in holiday season. We had all these reasons why there was an activity, but now there's no reason. So it's like, okay, it's got to be the price, Now we got to start adjusting.
Speaker 3:So I think that's where we're at with that, and we are definitely getting some homes under contract. We were at 281 from last week, so that's a pretty good amount. We have 797 homes under contract from last week.
Speaker 2:And you know I always say that 3,000 is my favorite number. So if that is a week over week trend, that is my favorite real estate market where it's 3,000 sales a month.
Speaker 3:So that's the number?
Speaker 2:Yeah, I don't know. I just feel like that market is. It's the type of market where there's enough inventory for buyers to find homes, but it's moving at a decent enough rate for sellers to be able to get their homes on the market and sell within 30 days. So that's my ideal market, just from my experience for-.
Speaker 3:It's a healthy, good market.
Speaker 2:Yeah, for the past 11 years that I've been in real estate, whenever we average around 3,000 sales a month, I think it's a wonderful balanced market, so hopefully this is a trend that keeps on happening.
Speaker 3:Yes, let's absolutely keep up that trend, and we have 518 sold, which is up 166 from last week.
Speaker 2:Yeah, that's also a good number. I love to see those solds and under contracts up.
Speaker 3:Absolutely.
Speaker 2:Yeah, so we do have some listener questions to go over this week. I feel like it's been a while since we talked about our listener questions.
Speaker 3:Absolutely, do you want me to talk about rates first.
Speaker 2:Yes, please.
Speaker 3:Absolutely. So let me kind of go over rates. So obviously we have a new president that's coming this year and so-.
Speaker 2:Five days, four days.
Speaker 3:Yeah, five or four days, Very soon, yes. So with that last week, in the last few days we did, you know, go. We were around a 7.25, which is is higher than we saw, you know, certain times in December. Right now, today, our national average, we're sitting at a 7.1 on a 30-year conventional and then right at about a 6.5 on a 30-year fha va. That's so it is. It definitely came down a little bit. We're trending down. We do have the feds meeting. We have a couple coming up. One is january 29th. They forecast and I say that lightly because at the end of the day we don't have a crystal ball, but yeah, the forecast is for that meeting that we're going to stay relatively stable and exactly the same as where we've been. We do have another one coming up on March 19th and they are predicting that the rates are going to slowly start coming down. So we'll see what happens. March 19th is definitely the day to kind of look out for on those type of rates.
Speaker 2:Okay, great. And then you highlight a loan program on every show. So what is that? What's your program of the week? Yeah, so the program of the week.
Speaker 3:this week is going to be an I-10 loan, so the I-10 loan is designed for someone who wants to buy a home that does not actually have a social security number.
Speaker 2:Okay, so this is somebody, someone that's from another country. Yes, that is so. I guess that would mean they're not even here, like on a green card or work permit or anything, right?
Speaker 3:So typically they can be. But an I-10 is basically a nine digit code that they get for paying taxes. Okay, so they're living here. They don't have to be living here, but usually they're living here in the United States, they're working, but they don't have an official social security number. So the IRS basically gives them this nine digit number and they use that to file taxes and things like that. So with this loan, it really allows the ability for someone who does not have a social security number to buy a home. This loan is really awesome. So, credit wise, you don't have to have a huge, you know, 640 and above. Typically, with this they're also going to ask for 20% down. Okay, now there are some stipulations. Even with an I--10 number you actually do, when we pull, it actually shows a credit score, really. So there is a credit score that comes up, which sounds weird, because if you don't have a social security number, how do you have a credit? How?
Speaker 2:do you have a credit score Like is it, credit cards? You can't get a credit card, can you?
Speaker 3:So it'll show Based on your bill and previous history on paying bills. Okay, so you can go as low as 15% down. However, with those stipulations, there has to be where they're actually showing trade lines on credit. Okay, so it has to show active or paid, and it can be rent, it can be utilities, it can be certain things that you can actually get put onto your credit to show that you're making payments. There are going to want to see some work history, of course, some type of income. It can even be 12 months if we're looking at doing a bank statement I-10, which you can do, or a 1099. But they're going to want to see some type of income and there are some stipulations to this. The biggest thing is a lot of people assume that if they don't have a social security number they know people that moved here from another country that they can't get a loan, and that's just not the case.
Speaker 2:Okay. So if you're, if you're living here, you're working here, you're paying taxes here, so you have this ITIN number, which, which is your kind of tax account that they set up, then you are still able to purchase a home.
Speaker 3:Absolutely, but if you're still living in another country and that that's a, that's just a whole different scenario. So I'll go into that loan program another week. But that's considered yep, that's considered a foreign national.
Speaker 2:They're not living here, but they want to purchase here okay, okay, I didn't even know that you could uh get a loan if you've lived in another country absolutely, and typically the things they're going to look at are money down.
Speaker 3:They're going to want to see some income, some reserves three, six months. But you definitely on those type of loans they are considered higher risk. So minimum usually is 20%.
Speaker 2:Right, Right and 20% is not bad. I mean that I feel like that's a fair minimum to have on, especially these outside the box loan programs.
Speaker 3:Absolutely so. That's a fair minimum to have on, especially these outside the box loan programs. Absolutely so. That's a great program and usually they're, you know, 30 days on average closing time, not too crazy.
Speaker 2:That is not too crazy. No no, sounds like it's a pretty simple Absolutely yeah.
Speaker 3:Well thank you.
Speaker 1:Thank you for that highlight.
Speaker 2:And people. If you want to find out more about that, make sure to contact Courtney to go over some details. And let's get into our listener questions. First one is Steve. Steve has a house that he wants to make an offer on. It has a lot of lush landscape and it's a big property. Steve's concerned about the water bills. Is there any way of finding that out before I purchase? So yes, absolutely Um. Often, when it comes to water power, even gas bills, any utility the utility companies will offer. You can call them and they'll be able to give you an estimate of what the last six to 12 month average is. Um, I always recommend doing that, especially when you're buying a property that has a lot of landscape, a lot of everything, because our water rates have gone up substantially over the last couple of years and that could be a factor. I mean, I have seen, without any exaggeration, homes that have thousands of dollars per month in water bills.
Speaker 1:I believe it.
Speaker 2:On very large properties. So that is I mean that's a huge considering factor because, especially if it has just, you know, grass and everything still that's going to be and it's going to be one of those things that you may still want the home, you may still want all that big property, but you might want to factor in that you're going to have to make that more desert friendly landscape in order to make it affordable and I think you know, when you move into a home I think it is important to know the overhead cost.
Speaker 3:So, outside of you asking the other agent, which I'm sure they can get a lot of that information yeah, there's also, you know, you can even call NV Energy and ask for any property, the average high and low of a property address, and they'll give it to you.
Speaker 2:Yeah, absolutely. It's very easy and it's not even hard to obtain when you call a utility company. So a lot of times your realtor will do that for you. I do it for my clients if they request it. And, yes, we can always ask the seller or the other agent to provide copies of bills. There's times that I found they conveniently forgot where one bill was, there's one that they couldn't place and that happened to have been the highest one. So I always like to refer to the utility companies because definitely you're going to get the facts of what's going on there, absolutely.
Speaker 3:Absolutely yeah. The next question is I bought a house with solar and the solar isn't working and the company went bankrupt. What do I do? Well, courtney, you seem to be the expert of this. Yeah, so I do have a background in solar, with solar, and, of course, the question was by Kim. So, kim, if you want to call me, I'm happy to answer all these questions and help you as well. But I do have a background in solar and unfortunately, there was a ton of small solar companies that came here during the solar boom, which was maybe 8, 10 years ago, from Utah, california, arizona. A lot of the smaller companies couldn't necessarily sustain, especially at the cost that they were offering people to buy solar panels, so a lot of them have gone out of business.
Speaker 2:Yeah, and even SunPower, which was a pretty big company, over the last year went bankrupt.
Speaker 3:Yeah, a lot of them have been bought out by larger companies like Sunrun and things like that. So with solar, there are a couple different options. Option one is going to be and, like I said, kim, if you want to call me I'm happy to go over that with you but option one is going to be you can, you know, google or look at there are technicians that'll come out and look at the solar and try to fix it. Since the company is bankrupt, obviously the company is not going to come out. So there are solar technicians you can pay to come check it to at least see if it's working. Okay, if it's not working, then the next steps would be if you want to continue to go solar, save money on your power bill.
Speaker 3:You can also look at getting it removed. A lot of handymen and certain handymen specialize in removing solar, so that's not really a huge task. Takes maybe, based on how big the system is, three, four hours, maybe even less, to remove. They can remove it and then you can look at possibly doing a power customer option with Sunrun. Or if you want to go solar, look at other companies. But if it's sitting on the roof, you want solar and it's just not working. Get a technician first to check the system and then always remove it, and you can replace it with a company.
Speaker 2:Yeah, because I mean, that's one of the things. I actually I've been in a very similar situation with Kim Solar was on my home purchased, paid in full. It was a $27,000 set of panels that the previous owner bought and they're owned, there's no payment on them, which has been great over the years, and now it's not performing like it used to and I kind of don't know. It's with SunPower, I don't know what to do about it, but it's also. You know, I'm still at that point where it's like, okay, but there's still $27,000 worth of panels up there. You don't want to just throw them away and you definitely if there's a way to get those operating optimally again. That's the route you want to take.
Speaker 3:So in the first step is to see if they're actually working right. The second thing is based on, you know, solar panels that were put on 8, 10, 15 years ago. They might not be as efficient, or a lot of people are just using a lot more power. The reason being is because the summers now are much warmer here, and so people are. October was hot, even November was still warm, so people are just using and consuming a lot more energy than they were 5, 10 years ago as well. So some people do add second systems to cover all the usage that they're using above and beyond.
Speaker 2:Oh, the excess usage, yeah, that's a great idea. And cleaning? Does cleaning the panels actually do anything?
Speaker 3:So it really depends. You know certain companies like Sunrun. They have an app where you can see the production. So usually if it's producing at a really high rate, cleaning it isn't going to change it. It's if you're not producing here. We don't get these crazy like mud storms and things like that. So unless it's completely covered, usually it doesn't affect it too much it depends at the the. It depends at the rate at which it's. I mean, if it's just covered in dirt or something, then it may yeah, yeah, definitely.
Speaker 2:That's a. That's another thing to give a shot to. Okay, great. And then Carlos, carlos really wants to be a homeowner. The payments for the type of house that he wants just seem too high and wants to know how he can have options for getting lower payments. That's kind of a simple one right.
Speaker 3:I mean there are options, obviously. At the end of the day, I think it's finding a home that you're comfortable with as far as a payment.
Speaker 2:Yeah, yeah, and that's part of your approval. Sometimes people's approval, even at that point, is higher than a payment that they're comfortable with, and that's where you have a discussion with the lender on what payment. What's your comfort zone as far as that payment? But the more money you put down, your payment's based on your loan balance. So the more money you put down, the lower that payment goes. There's things like putting 20% down, getting rid of PMI or MIP that can make that extra portion of the payment go away.
Speaker 3:You can also do. You know there and I don't know how much you're seeing this right now seller concessions, are you seeing a ton of that right now when they're doing rate buy downs?
Speaker 2:Yeah, yeah, they're still. They're still out there. I feel like that, as the market starts warming up, it's going to go away, but there is still. We're still in an environment where that's still relevant.
Speaker 3:And there used to be. You know there was talks about the 3-2-1 buy downs which had to come from. It couldn't come from the buyer, so it had to come from the seller side. And you know people used to talk about those where the rate for the three years it would be 3% and then at two years in it would go down 2% and then 1% and the cost of doing those was very large. There's not a set amount. I've seen it for ten, fifteen thousand dollars sometimes a buy down on those.
Speaker 2:I sold an eight hundred. I was an eight hundred thousand dollar house about a year and a half ago. Seller. The seller agreed I had the buyer.
Speaker 3:The seller agreed to pay for the three, three, one buy down and it was a cost at thirty two thousand and so when you're looking at a market, I think at the end of the day you know you can just buy down a rate. Sometimes it's best to take that money and use it towards closing costs to make it more affordable for somebody, or just actually buy down the rate and it stays like that until they refinance. A lot of times those 3-2-1 buy downs once that's over, if you haven't refinanced or you're not out of the home, then the payment in three years maybe isn't affordable at that point. So you really have to look at how much it's going to cost and where it's best to put your money. Sometimes it's best to just buy down the rate indefinitely until you change the mortgage or refinance or move. And then when we're looking at this market, a lot of times using the money towards buying down a rate, most people, based on the predictions, are probably going to refinance in the next couple years two, three years.
Speaker 2:So if their break even is three, four years of what the cost is to buy down the rate, sometimes it's just not worth it and I tell people this all the time if you're not using a down payment assistance program or some kind of program that has like a term that you have to stay locked in that loan most loans six payments you're ready to refinance. It's no big deal, no penalties, nothing. You can already go and refinance into a lower rate if the rates are better then, so you still have that option as well. I know, years ago, back in 2018, when I bought my current home, I paid for a rate buy down. There was a certain cost to it. And two years later, in 2020, I got rates came down to 2%. 2020, I got uh, rates came down to 2%. So I was like, oh well, hey, got a way better. Uh scenario there refinanced at the 2%, so that buy down, um, I paid a good chunk of money for it, but I only used it for two years, so it never really I guess. Uh realized, uh, you know, like seeing that scene value in that, you know, because I didn't have it for long enough.
Speaker 2:But there's always those scenarios too. So it's definitely I would advise don't get into something that you can't afford, that you're going to be stressed about every month. Make sure that the payment, regardless of what you're getting into, is affordable. But there's always the future to look into because you can gain 20 equity if you didn't already put 20 down and then refinance and remove that mip or pmi. You can refinance if the rates look better and get that at a lower rate. You can make extra payments and get that loan balance down quicker. You can do the rate buy downs. You can ask the sellers for concessions. There's a lot of things that you can do to make that payment more comfortable for you.
Speaker 3:Absolutely, and there are max seller concessions that based on the type of loan that they can actually do in general. But I think each case is so different and right now I do think people are going to refinance in the next year or two. So when it was at 3% during COVID, was it worth using a rate buy down Because you're probably never going to touch it ever again? I mean, if you're buying down from a 3% to a two and a half, I mean those rates are unheard of. So you know, right now I just don't think it's worth using a ton of money to do a rate buy down. Most people are going to refinance in the next 12 to 24 months yeah, because we all feel very confident the rates are going to start coming down soon?
Speaker 2:um, I, I really hope so. Yeah, me too, yes. Um. So, courtney, someone wants to talk to you about getting some money. How do they reach you?
Speaker 3:yes, if you're interested in getting some money, give me a call at 702-416-6918 or shoot me over a text. I'm always happy to chat.
Speaker 2:All right, if you need to spend that money on a home, please give me a call, trish, at 702-308-2878. And if you're watching our show, please like, share, subscribe. We are realtycheckvegas. That's our link tree where you can link to either of us or both of us on all different types of portals. And we do want to send a special shout out to our marketing partner, chicago Title. Thank you for everything that you do and we'll see you next week. Bye, bye.
