Licensed Nevada Realtor, HomeSmart Encore, license S.0179652. 5.0 from 32 Google reviews.
What did I actually say on the podcast? Answer: That Las Vegas is a buyer’s market right now, that getting into a rental is harder than most people expect, that there is a middle income down payment assistance program worth asking your lender about, and that I answer my own phone. Watch the full episode below, or read the whole conversation broken down point by point.
Kevin Kane and Brian Hearn of Security First Title had me on their podcast to talk about buying in Las Vegas right now. We covered how I got into this business, what the market is actually doing, how I handle a seller who thinks their home is worth more than it is, and the win I am proudest of this year. Here is the full episode, then the whole conversation in writing.
Runtime 20:25. Hosted by Kevin Kane and Brian Hearn of Security First Title. Open the video in a new tab.
Prefer to listen? Play the audio here.
How I Got Into Real Estate
I grew up in Iowa, moved to a Minneapolis suburb, and raised three kids there. When the last one graduated, I put my house on the market and I left. As I told Kevin on the episode, “I took the voyage from Minnesota out to Nevada. And I’ve always wanted to do it. And I just jumped in with both feet.”
Real estate was not a new idea for me. I had bought and sold plenty of homes myself and I understood how the process worked. What I did not have back then was the time. My husband traveled constantly, I had three small children, and you cannot drop everything to show a house at four in the afternoon when you are the only parent in the building. Nevada gave me the schedule I needed. I worked seven days a week from the start, and I still work like that.
Before real estate I ran a daycare for twenty two years. Kevin thought that was a strange resume and I told him it is not. Both jobs demand that you wake up self motivated, work with completely different people every day, and adapt to what each of them needs. The comparison holds up better than you would think.
Why I Called It A Buyer’s Market
Brian asked whether it is a good time to buy. My answer was yes, and the reason is leverage. There is a lot of inventory on the market and plenty of sellers are lowering their prices. When buyers have choices, buyers have power, and that power shows up in the parts of a deal people forget to negotiate.
On the episode I said that on every deal I have done, I have gotten my buyers “at least $10,000 in closing cost.” That is my own experience talking, not a promise about your transaction. What you can negotiate depends on your property, your seller, and your timing. Ask me what is realistic for the home you are looking at and I will give you a straight answer rather than a sales pitch.
I also told them that new construction deserves a look right now, because builders are competing hard with incentives on rates and closing costs. Builder programs change constantly, so treat anything you hear as a starting point and confirm the current terms with the builder and your lender before you count on them.
The Down Payment Program Most People Have Not Heard Of
This is the part I most wanted to get on the record. Most assistance programs are built for lower income buyers. There is one through One Nevada aimed at middle income buyers, and I work with Robert Haviland on it.
Here is how I described the requirements on the episode, in my words:
- You bring $10,000 of your own money.
- You meet the income requirements for the program.
- Your credit score is at least 620.
- You have not owned a home in the past three years.
I told Kevin it can go toward your down payment or your closing costs, and that you do not repay it. I have gotten two families into it already and I am helping a third. Please treat every one of those details as a starting point rather than a rule, because program terms, funding, and income limits change, and I am not your lender. Get the current requirements confirmed directly before you plan around them.
The one piece of timing advice I will repeat here: the money goes fast. I told them that if this interests you, get pre approved in November or December so your file is ready the day funding opens, because it is usually gone that day. Being prepared early is free. Scrambling late costs you the opportunity.
Renting Versus Buying, Honestly
Everyone assumes renting is the easy option. It is not as easy as people think. As I said to Brian, getting into a rental takes more money up front than buyers expect. If the rent is $2,500, you are often asked to produce roughly three months of that before you get keys, and the credit score bar for a rental can sit higher than the bar for an assistance program.
So when someone tells me they cannot afford to buy, my first question is what the rental actually requires of them, because the two numbers are closer than the internet suggests. If you can get help with a down payment and you plan to stay, buying puts that money to work for you instead of for your landlord.
There is a real case for renting and I said so on the air. If you are new to town and not sure you want to stay, rent. If you are not going to be here for a while, buying is not a good financial decision. I would rather tell you that on the phone than sell you a house you regret.
How I Handle A Seller Who Overprices
| What I bring | What it does for you |
|---|---|
| Recent comparable sales | Shows what buyers actually paid, not what listings asked |
| Current market conditions | Explains why a comp from 60 days ago may already be stale |
| The reasoning behind my number | You see how the price was built instead of being handed a figure |
| A test plan you agree to | If you want to try a higher number, we set a window and review it |
Every seller thinks their home is worth more than it is. That is not a criticism. You love your house, you know every improvement you made, and none of that shows up in a spreadsheet. So I sit down, bring the comps, walk through the market, and explain how I arrived at my number.
Most sellers understand it and still want to try their price. Fine. We agree on a couple of weeks and we look at the response together. What I will not do is agree to a number I cannot defend just to win the listing. In this market especially, comps are difficult, because homes are selling below what similar homes closed for a month or two ago. You deserve to hear that before you list, not after you have sat.
On the buyer side I do the same thing in reverse. I have the comps before we walk in, so I can tell you what I think a home is worth while we are standing in it. I recently wrote an offer that the seller rejected because they were determined to hold their price. My buyer and I talked it over and agreed the house was not worth it, so we moved on. You have to be willing to walk. My job is to get you equity at the start, and the last four buyers I worked with this year came in under appraised value, so they began with some.
The Win I Am Proudest Of
A twenty two year old first time buyer. We found a water leak at the walkthrough and the whole ceiling had to be replaced before we closed. We handled it and got him into the house. The next day he texted me: an air conditioner had failed. The home warranty did not want to cover it because he had just moved in. I pushed, and about forty five days later they paid.
Three days before that, his water heater quit. The technician told him it needed a condensation line and was therefore not covered. I asked for photos, went and got them myself, and checked the claim. The denial did not hold up. I sent that back to my contact at the home warranty company and she agreed to cover it. He ended up with a new air conditioner and a new water heater.
That fight took a long time and it is exactly the kind of thing a twenty two year old buying his first home has no way to handle alone. His review said I treated them like family. That is the best thing a buyer or seller has ever said about me, and it is the reason I do this.
Why I Always Answer My Phone
My biggest frustration with agents today is that they will not pick up. I call, and I get a text back saying to text instead. If I wanted to text you, I would have texted you. I can settle in five minutes on a call what takes half an hour in messages.
That habit came from being on the other side of it. When I sold my house in Minnesota, the buyers sued me over garter snakes in the yard, of all things, because I had lived next to a farm. I called my agent for help and she sent me a message saying I was on my own. She would not pick up the phone. I had to defend myself.
I decided I would never be that agent. So you get me. Same day, on the phone, every time.
Las Vegas Beyond The Strip
People do not believe anyone actually lives away from the Strip. I live in Desert Shores, where there are three little lakes, and it reminds me of Minnesota. If a big city is not what you want, look at Boulder City, Indian Springs, or Pahrump. As I told them at the end, “the strip doesn’t give us justice.” People just need to take the time to see the valley for what it is.
I also gave the local business spotlight to Grapevine, a small restaurant in the northwest valley. Locally owned, good food, a real wine list, sometimes live music, and an owner who comes around and talks to you. My husband and I have a rule: bad service and a place comes off our list. Grapevine has never come off it. I take clients there.
If you want to see more of the valley, I have written up the areas I serve across Las Vegas, Henderson, Summerlin, and out to Pahrump and Boulder City. Clark County publishes the resident services you will actually use once you move here, and the Consumer Financial Protection Bureau walks through the buying process in plain language if you want a neutral second source.
Want To Talk About Your Move?
If any of this sounded like your situation, call me. Whether you are a first time buyer wondering if the assistance program fits you, an owner trying to figure out what your home would bring in this market, or someone who just wants a straight answer from an agent who picks up, that conversation is free and it does not obligate you to anything.
If you are thinking about selling, start with a free home value report. No cost, no obligation. If you are buying, take a look at how I work on my buying page, and thank you to Kevin Kane and Brian Hearn for having me on.
Questions People Asked After The Episode
Who hosted the podcast episode with Tami Jacobson?
Kevin Kane and Brian Hearn, both with Security First Title. The episode runs 20 minutes and 25 seconds and covers how Tami got into real estate, the current Las Vegas market, down payment assistance, renting versus buying, pricing conversations, and her biggest win of the year.
Is it a buyer’s market in Las Vegas right now?
On the episode Tami described it as a buyer’s market, with substantial inventory and sellers reducing prices. That means more choice and more room to negotiate on terms and closing costs than buyers had a few years ago. Market conditions shift, so call her for a current read on the specific area and price range you are shopping.
What is the One Nevada middle income program Tami mentioned?
It is a down payment assistance program aimed at middle income buyers rather than the lower income buyers most programs target. Tami works with Robert Haviland on it and described the requirements as $10,000 of your own money, meeting income limits, a credit score of at least 620, and not having owned a home in three years. Terms and funding change, so confirm the current requirements with the lender before you plan around them. Tami is not a lender and this is not lending advice.
When should you get pre-approved for a down payment assistance program?
Earlier than you think. Tami’s advice on the episode was to get pre-approved in November or December so your file is ready the moment funding opens, because these funds are often fully committed on the first day. Getting prepared early costs you nothing.
Is renting really cheaper than buying in Las Vegas?
Not as clearly as people assume. Tami pointed out that rentals often require roughly three months of rent up front and can demand a higher credit score than an assistance program does. Run both sets of numbers for your own situation before you decide, and ask her to walk you through the comparison.
How do I contact Tami Jacobson?
Call or text 952-288-3039. She is a HomeSmart Encore agent serving Las Vegas, North Las Vegas, Henderson, Summerlin, Pahrump, Boulder City, and Indian Springs. She answers her own phone, which was one of the running themes of the whole episode.
Have a question about buying or selling in Las Vegas?
Call me and I answer. Same day, every time.
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