2/21/15 LOOKING AT MEMPHIS REAL ESTATE AND MORTGAGE MARKET
HIGHLIGHTS FROM OUR PODCAST:
MARKET NEWS
ISHARE AGENCY SOCIAL MEDIA TIP OF THE DAY
QUESTIONS ANSWERED BY DAN SPRINGER:
1. Memphis—A Big Small Town Advantage with the Big Town Amenities
2. Memphis—It’s distinguished position as AEROTROPOLIS—airways, highways, railways and
river ways.
3. Memphis real estate—upcoming commercial projects that are drawing activity and wealth
4. Memphis—Mayor’s Young Professional Council- how to get involved.
QUESTIONS ANSWERED BY MARTIE WATSON:
1. What is the most visited tourist site in the Memphis area?
3. What do you project for tourism in Memphis once the Bass Pro project is open?
QUESTIONS ANSWERED BY JO GARNER:
1. Where do you see the most activity in the Memphis Real Estate lending market?
REAL ESTATE TIP OF THE WEEK: Martie offers the social media tip of the day. Jo Garner
talks about FHA’s recent move to lower significantly the monthly mortgage insurance
premium, making a refinance on an FHA loan MUCH more attractive when you can lower
the rate AND the mortgage insurance premium. Double for your money. On the FHA
Streamline, you don’t need an appraisal and you don’t need to verify income.
REAL ESTATE TIP OF THE DAY:
JO’s ANNOUNCMENTS:
Good morning Memphis! Good morning around the country on iHeart Radio and BOCI Radio.
You’re on the Real Estate Mortgage Shoppe. I’m your host, Jo Garner, Mortgage Loan officer
with Evolve Bank and Trust. Today we’re taking a little trip to one of MY favorite places—a
place called Memphis. We’re Looking at Memphis Real Estate and the Mortgage
Market. Give us a call on the air at 901 535-WREC 901 535-9737. Joining us around the
coffee table this morning is Dan Springer, Director of Marketing and Communications at Evolve
Bank and Trust . The Memphis Business Journal last year awarded Dan the distinguished award
of being one of the Memphis “Top 40 Under 40.” Dan, its great having you on the show today.
Dan you have a very interesting career history. Please tell our audience a little bit about
yourself .
<Dan introduces himself and gives us a little bit of his background and some about his career
from the White House in Washington DC, to State of Tennessee politics and most recently
Memphis and Shelby County local politics, giving him a unique and positive view of
Memphis>
(Jo) Also in the studio to help us “Take A Look At Memphis” this morning is Martie Watson,
Marketing Director with Travel Leaders . Martie is also an official iShare Agency expert and will
be sharing our iShare Agency Social Media Tip of the Day for real estate professionals a little
later in our program. Martie, tell us a little bit about yourself and what you do.
<Martie has a positive outlook on Memphis from the view of a travel agent >
(Jo) Today we’re looking at Memphis real estate and the mortgage market. The national
mortgage market yesterday was like a wild ride on the old Zippin’ Pippin in the erstwhile
Libertyland Park. Mortgage rates started out fairly low where they were Thursday, but the
ongoing drama between Greece and its Eurozone creditors and the possibility that Greece’s
bailout would be extended caused our mortgage markets to run wild. Why would a Greek
bailout extension cause our mortgage markets to go into a frenzy? It’s because the
instability caused by the Euro situation has sent nervous investors to the safety of our U.S.
treasury bonds. Our mortgage rates are tied to the US 10-year bonds. When investors are
clamoring for our bonds, it keeps the yields on bonds down and also the mortgage rates.
After an afternoon hanging on to the sides of the market rollercoaster, we finally coasted to
a stop with rates the same as we left them Thursday night. 30YR FIXED – 3.75-3.875
FHA/VA – 3.25-3.5
15 YEAR FIXED – 3.00-3.125
Evolve’s portfolio jumbo loan still around 3.99%.
<Dan makes comments about Evolve Bank’s commitment to offer banking services, mortgage
lending and commercial lending>
(Jo) Dan, the Memphis market has been a stable market compared to other cities around the
nation. We have a perfect storm right now. The winners in this market are people with a
4.875% rate or higher who wants to refinance and lower their interest costs AND their
payment. In some cases these homeowners will be go back to a 30 yr to save the most amount
of money per month until the kids get through college or until their finances transition and they
can pay extra on the principal, allowing them to still pay the loan off earlier but at a lower rate
costs.
Other winners are homeowners refinancing to lower their interest costs AND shorten the term
on their loan. You can save TENS of thousands of dollars and in some cases over $100 thousand
dollars in total payments by eliminating 5 or 10 years off your loan.
Some clients are refinancing and pulling cash out at a fixed low rate and taking the money to
reinvest to buy other properties or to put back in a business that’s bringing a double-digit
return.
Here are some big winners—renters getting to buy their first home. In so many cases in
Memphis BUYING a house can give the buyer a bigger house with more amenities with a
payment 25% to 30% LOWER than what they were paying on rent. Families deciding to down
size are winners in this market too because houses in some areas have gained value making it
easier to sell.
My very experienced assistant would like very much to talk with YOU about YOUR financing.
Let’s do the numbers. You might be pleasantly surprised at how much money you can save on
terms like the rates we have right now. You can reach me on the air at (901) 535-WREC (901)
535-9732 or off the air directly (901) 482-0354 (901) 482-0354 or catch me on my personal
blog www.JoGarner.com .
(Jo) Dan, as director of Evolve Bank and Trust’s marketing and communications and with your
experience in the political landscape, you have a unique view of our fair city, Memphis, TN.
What do you see ? <Dan launches his topic>
2nd SEGMENT Of Show iShare Agency SOCIAL MEDIA TIP OF THE DAY
_________________________________________________________________________
To our realtor friends and other savvy and sharp business friends out there, its time
for the iShare Agency Social Media Tip of The Day for real estate professionals.
Martie Watson, Marketing Director for Travel Leaders and official iShare Agency
expert. (She’s my travel agent) Martie, what’s our social media tip of the day?
www.iShareAgency.com
QUESTIONS ANSWERED BY DAN SPRINGER:
1. Memphis—A Big Small Town Advantage with the Big Town Amenities
2. Memphis—It’s distinguished position as AEROTROPOLIS—airways, highways, railways and
river ways.
3. Memphis—upcoming commercial projects that are drawing activity and wealth
4. Memphis—Mayor’s Young Professional Council- how to get involved.
QUESTIONS ANSWERED BY MARTIE WATSON:
1. What is the most visited tourist site in the Memphis area?
3. What do you project for tourism in Memphis once the Bass Pro project is open?
QUESTIONS ANSWERED BY JO GARNER:
2. Where do you see the most activity in the Memphis lending market?
-I primarily work in the residential mortgage market for people buying primary
residences, vacation homes around the country and investment properties. But when
the mortgage rates plummeted back down to a 20- month low in January, Susan and I
saw a resurgence of clients refinancing to lower their interest rates and payments or
shorten the term or cash out to consolidate debt or to reinvest.
-The other trend is that we are seeing first-time buyers stepping into the market as well
as people who had owned a house many years ago but now they’re coming back into
the market. The first time homebuyers are buying houses and the sellers are buying
other houses so we are seeing a good movement of buyers and sellers. If you or
someone you know want to look into buying or refinancing, call me on the air 901 535-
WREC (901) 535-9732. Or directly at 901 482-0354 or catch me on my personal blog
www.JoGarner.com IF THE DEAL WORKS FOR YOU, DO IT TODAY.
-on the commercial side, Bass Pro downtown is going to be a hunting and fishing Disney
World. Already businesses are buying and leasing commercial properties downtown and
in and around crosstown where the old Sears Crosstown building is being renovated. In
2014 Memphis saw the highest commercial absorption rate than we’ve seen in years.
REAL ESTATE TIP OF THE WEEK: Martie offers the social media tip of the day. Jo Garner
talks about FHA’s recent move to lower significantly the monthly mortgage insurance
premium, making a refinance on an FHA loan MUCH more attractive when you can lower
the rate AND the mortgage insurance premium. Double for your money. On the FHA
Streamline, you don’t need an appraisal and you don’t need to verify income.
______________________________________________________________________________
Jo’s announcements : Jo’s announcements:
Talk Shoppe offers free education and networking to anyone interested in real estate or in
business. Coming up Wednesday February 25th, 2015 join us for the The Mastermind Principle:
based on the book Think And Grow Rich by Napoleon Hill. Talk Shoppe events are free at the
YMCA NUBER CENTER 5885 Quince Rd Memphis (across from Lichterman Nature Center) 9A to
10A Wednesday. For more information go to www.TalkShoppe.com
To hear today’s podcast of the Real Estate Mortgage Shoppe and others, go
to www.JoGarner.com
Transitional Music: “Proud Mary” by Tina Turner; “Memphis Beat” by Jerry Lewis; “ Graceland” by Paul Simon “Roar” by
Katy Perry for the iShare Agency Social Media Tip of the Day
From Wikipedia -“Graceland” The album, along with many other releases by the group, received gold disc certification.
Ladysmith Black Mambazo’s collaboration with Paul Simon in 1986 paved the way for international releases and
drew attention to South African music in general. The album won the 1986 Grammy Award for Album of the Year,
while the title song won the 1987 Grammy for Record of the Year. In 2007, the album was added to the United
States National Recording Registry, along with another 24 significant recordings that year. It is included in many
“best of” and “greatest” album lists including those of both Rolling Stone and Time Magazine. The album sold 14
million copies.
___________________________________________________________________
Dan Springer , Director of Marketing and Communications for Evolve Bank and Trust
Awarded “Top 40 Under 40” in 2014 through Memphis Business Journal
Evolve Bank & Trust Memphis, TN November 2012-Present
Director of Marketing and Communications
Manage all internal and external communication for 450 person firm
Oversee all marketing and corporate sponsorships for offices in 19 states
Responsible for all local, state, and federal government relations and policy issues
Manage team of graphic artists for all print and digital advertisements
Responsible for multiple corporate branding events throughout the year
Office of Shelby County Mayor Mark Luttrell Memphis, TN September 2010-November 2012
Executive Assistant to Mayor
Prepared remarks for all Mayor’s speeches and prepared Mayor for all events
Reviewed applications and recommended appointments to 43 Shelby County volunteer boards and
commissions
Developed and maintained Shelby County Citizens’ University, a citizen involvement program designed to
motivate and cultivate interest and trust in government
Created Mayor’s Young Professionals Council, a council to keep Mayor informed and apprised of issues
effecting young professionals (still actively engaged today)
Collaborated with local, state and federal officials regarding legislative and policy issues
Managed Mayor’s security detail
Mark Luttrell for Mayor Campaign Memphis, TN February 2010-August 2010
Campaign Manager
Managed all day-to-day aspects of the campaign including grass roots efforts, 50+ volunteers, and
headquarters
Formulated and implemented campaign strategies
Assisted in fundraising planning/organizing events
Assisted in coordinating media efforts
Kustoff & Strickland, PLLC Memphis, TN July 2009- February 2010
Law Clerk
Performed legal research and draft supporting memoranda
Drafted and filed civil matters in General Sessions, Probate, Circuit, and Chancery Courts
Assisted in case preparation and pre-trial discovery
Office of Senator Bob Corker Washington, D.C. January 2007- August 2008
Legislative Correspondent
Responded to constituent concerns via writing letters, emails and conducting meetings with constituents
Worked collectively with two Legislative Assistants on issues of immigration, transportation, labor,
telecommunications, education, tax, budget, and judiciary issues
White House Internship Washington, D.C. January 2005- May 2005
Office of USA Freedom Corps
Researched and collected news clippings for daily dissemination to office staff
Planned and organized volunteer cleanup activity for class of 100 interns
Assisted in planning and organizing White House Easter Egg Roll
Martie Watson, iShare Agency Expert and Marketing Director for Travel Leaders
Martie Watson is the Marketing Director for Travel Leaders Memphis / Bartlett. Travel Leaders has been
in business for 30 years and has agents that work with her that have been in the business for over 25
years. She is proud to be a part of one of the top leading travel agencies in North America who specialize
in custom, unique experiences for each couple, family and corporation. They offer personalized, one-on-
one trip planning, tailoring your trip or other special event.
Martie has been in the travel industry for over 12 years and has been in Marketing, Sales and customer
service for over 30 years. She has been very active in community service for over 25 years and is an
ambassador for the Bartlett and Collierville Chambers. Martie Watson has traveled extensively through
parts of Austria, Germany and Holland, to over 40 states, the Caribbean and Central America.
She works with corporate and leisure clients. She is the liaison for the clients and the agents at Travel
Leaders creating the perfect experience for both.
Her passion is her job and seeing the happy faces from her clients. She loves to assist people in making
their dream vacations come true! She also enjoys working with corporate clients helping them see their
ROI with using a travel agency specialized in corporate travel.
You can reach Martie at Travel Leaders at 901-377-6600 or email her at: Martie@GoTravelLeaders .
Travel Leaders is located at 2765 Wolf Creek Parkway, Ste. 104, Memphis, TN 38133. Their website is:
www.GoTravelLeaders.com.
ABOUT JO GARNER:
www.JoGarner.com (901) 482 0354 jo@192.232.195.219 @jogarner
Jo Garner is a mortgage officer with extensive knowledge in tailoring mortgages to her
customers who are refinancing or purchasing homes all over the country. She offers
conventional, FHA, VA or other loan programs for refinancing and purchases.
Jo can help you look at rent vs buy, when it makes sense to refinance, how to get the best deal
on your home purchase financing.
Jo Garner has been in the real estate/financing business for over 20 years. She got her start in
Portland, Maine where she first began her real estate career. She received her real estate
education from the University of Southern Maine and was personally mentored in San Diego,
California by Robert G. Allen, author of Nothing Down, Creating Wealth and The Challenge.
On moving back to West Tennessee in 1987, she went into business buying and selling
discounted owner-financed notes secured on real estate. In 1990 Jo went to work for a
residential mortgage company and has been a mortgage loan officer for over 20 years. Her
goal is to offer excellent, affordable service to her customers, tailoring the loan programs to the
specific needs of her clients.
In addition to her work in the mortgage field, Jo Garner is the primary sponsor and founder
of Talk Shoppe in Memphis. www.TalkShoppe.com She was also the editor of Power Shoppe,
a free weekly e-zine designed for real estate professionals and others indirectly connected to
the real estate industry and currently publishes on her blog www.JoGarner.com .
For real estate financing solutions, plug into the Real Estate Mortgage Shoppe program.
You can find mortgage rates, FHA Streamline refinance with no out-of-pocket costs,
refinancing options, home purchase loan programs, answers and real estate, money-
saving tips and more.