MEMPHIS HISTORY, REAL ESTATE & FINANCING


HIGHLIGHTS FROM OUR PODCAST :

MARKET NEWS

LOOK BACK MEMPHIS TRIVIA CONTEST

QUESTIONS ANSWERED BY TOM KING: (We bring out the Magic Binoculars)

1. Memphis has a great future with our artesian well water, railway, riverway and

runways and our huge medical resources and now more opportunities for

tourism.

2. Tells story of guy who homesteaded Mud Island and how he prevented his land

from just being taken away from him.

3. Tom’s jumps from different buildings and bridges in Memphis and landed a

plane on the runway on the old runway on the island

(“Both Tom and Jimmy (old friends from boyhood) were like a jukebox with too

much money in it—rolling off one old story after another.”—Jo Garner )

______________________________________________________________________

QUESTIONS ANSWERED BY JIMMY OGLE:

1. Stories about Memphis, Boss Crump, Mayor Dick Hackett’s vision for Harbor

Town and the “bridge to nowhere.”

2. Future of the Chisca Hotel, Tennessee Brewery, Sears Crosstown, Nineteenth

Century Club

3. 1892 the first person who jumped off the Memphis bridge in a ceremonial jump

4. More people lived in jail in downtown than in the downtown area at one point

201 Poplar was built. Now you can’t keep enough residential property to keep up

with the number of people moving into downtown.

5. Story of “Machine Gun Kelly” and the radio caller’s father who was mistaken

for “Machine Gun Kelly”–

QUESTIONS ANSWERED BY JO GARNER:

1. Who are some of the people from the real estate and lending industry who

have learned from history?

REAL ESTATE TIP OF THE WEEK

ANNOUNCEMENTS

Good morning, Memphis! Good morning across the country on iHeart Radio and BOCI Radio.

You’re on the Real Estate Mortgage Shoppe program. I’m your host, Jo Garner, Mortgage

Officer with Evolve Bank and Trust. Today we’re talking about “Lessons Learned From The

Past—Memphis History, Real Estate & Financing.” What have YOU learned from history about

your real estate or finances? Call us and let us know some things you’ve learned from the past

that have helped you avoid problems related to a real estate property or with your finances.

Who knows, what YOU share may help someone else. Also in the studio we have Tom King,

appraiser with Bill King and Company. Tom’s been busy doing appraisals . <Tom introduces

himself and talks about what he does as an appraiser.>

(Jo) We have a very special guest around the table with us today—notable Memphis historian,

Jimmy Ogle, who works for the Riverfront Development Corporation & is

chairman of the Shelby County Historical Society, but is best known today

for his free historic walking tours in downtown Memphis. Jimmy, you’re known as

the Voice of Memphis History, there are NUMEROUS articles in the Commercial Appeal, Best

of Times, the Memphis Daily News, and so many more. The Des Moines Iowa Register says

about him that, “Rest assured that Ogle will run out of breath long before he

runs out of facts about Memphis. And he rarely runs out of breath.” Glad to

have you on the Real Estate Mortgage Shoppe program. Tell our audience a

little bit about yourself and what you do. <Jimmy Ogle introduces

himself and talks about what he does and about the free historic

Memphis walking tours>

(Jo) The mortgage market is starting to read like a history book again. When the Jobs Report

came out a week ago, rates started jumping higher. During this past week the price on rates,

like they’ve doing for months, gradually slipped down again so that we are about where we

were last Thursday. Up and down like the crest and trough of a river wave. Yesterday closed

with the 30 year conventional rate around 3.875%, the FHA and VA rates in the upper 3’s, the

conventional 15 year rates between 3 and 3.5%. Evolve Bank as of right now still has the Jumbo

5-1 at 3.99%. Rates vary according to a lot of different factors so your rate could be lower or

higher than stated here. Stay tuned though, next week the Federal Open Market Committee

meets and their decisions could have a HUGE impact on which the mortgage rates swing.

<Tom makes short comments here>

(Jo) What have we learned from recent history during the real estate crash of 2008? Here’s a

big lesson—and I hope we don’t forget it—make sure your house note is low enough to fit your

budget AND give you some discretionary income for emergencies or an occasional vacation.

Sometimes, if a borrower has good credit and a lot of money in the bank, the computerized

underwriting software will pre-approve someone at over a 50% debt-to-income ratio. The

debt-to-income ratio includes the proposed house payment including the property taxes and

insurance along with the minimum required payment for credit cards, car loans, student loans,

and personal loans. It would certainly be more comfortable to have a debt ratio 41% or under

rather than 50% or over. And a house payment under 28% of your gross income. Emergency

funds are important too—especially if you are buying a house. Don’t spend every dollar on the

house—keep a little back in case of a rainy day.

A few years ago I served on the Finance Committee at our church, specifically helping

individuals and families get back in control of their finances. My motto was a verse out of the

Bible that says, “ That they may know the truth and the truth make them free.” Umm…how do

you get to the Truth about how much you really spend? How much to you really bring home

from your paycheck? The people and families that were working on their finances would bring

in the bank statements or printouts to show each check they wrote and they brought in their

credit card statements with the detail listed on what they bought and how much they paid. If

you really look at your statements and credit card statements for the last 12 months, you will

see where you’re spending your money—even down to the once-a-year car tags. Then and

only then were we in a position to create a budget. Let’s talk about what’s comfortable for you.

Just call us at (901) 535-WREC (901) 535 8185 or call me directly at (901) 482-0354 or catch us

on the blog www.JoGarner.com

<Tom >

(Jo) We’re talking about lots of good stuff today –and some fun stuff too. There are a lot of

great opportunities for people to take advantage of the Perfect Storm going on right now with

the artificially low mortgage rates, good prices on houses, a reduction in some monthly costs

from FHA. Refinances are still hot—with some of our special programs allowing borrowers to

refinance without an appraisal value, lowering payments, shortening the term on mortgages

and even pulling cash out to get rid of high interest rate debt or variable rate debt. MAKE A

PLAN, WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, DO IT TODAY.

Tom King and Jimmy Ogle, what are some lessons we’ve learned from Memphis history tied to

our local real estate? < Jimmy launches the topic>

2nd segment after 9:15 break—It’s time for the Look Back Memphis Trivia Contest.

The Look Back Memphis Trivia Contest is brought to you by Memphis notable

historian, Jimmy Ogle www.jimmyogle.com,. Jimmy Ogle offers free historic

walking tours in downtown Memphis. To get his spring and fall schedule, go to

www.jimmyogle.com. Our Look Back Memphis Trivia contest is sponsored by

Lawhon Landscape. John and Jennifer Lawhon want you to know that this time

of year is a great time to plant trees. They also have a hydraulic Root Feeding

System for Shrubs and Trees. Give them a call at 901 754 7474. Lawhon

Landscape is giving away a $25 gift card to the first person with the correct trivia

answer. If you know the answer, call us at 901 535 WREC 901 535-9732. Today,

we have THE ONE AND ONLY JIMMY OGLE in the studio with us. Jimmy, what’s

our trivia contest question? <Jimmy Ogle presents the Trivia Contest>

QUESTIONS ANSWERED BY TOM KING: (We bring out the Magic Binoculars)

1. Memphis has a great future with our artesian well water, railway, riverway and

runways and our huge medical resources and now more opportunities for

tourism.

2. Tells story of guy who homesteaded Mud Island and how he prevented his land

from just being taken away from him.

3. Tom’s jumps from different buildings and bridges in Memphis and landed a

plane on the runway on the old runway on the island

(“Both Tom and Jimmy (old friends from boyhood) were like a jukebox with too

much money in it—rolling off one old story after another.”—Jo Garner )

______________________________________________________________________

QUESTIONS ANSWERED BY JIMMY OGLE:

1. Stories about Memphis, Boss Crump, Mayor Dick Hackett’s vision for Harbor

Town and the “bridge to nowhere.”

2. Future of the Chisca Hotel, Tennessee Brewery, Sears Crosstown, Nineteenth

Century Club

3. 1892 the first person who jumped off the Memphis bridge in a ceremonial jump

4. More people lived in jail in downtown than in the downtown area at one point

201 Poplar was built. Now you can’t keep enough residential property to keep up

with the number of people moving into downtown.

5. Story of “Machine Gun Kelly” and the radio caller’s father who was mistaken

for “Machine Gun Kelly”–

QUESTIONS ANSWERED BY JO GARNER:

2. Who are some of the people from the real estate and lending industry who

have learned from history?

A. The survey Talk Shoppe did in 2008 during the real estate crash, also

B. People who owned real estate with a positive cash flow. Here’s how to do it

C. People who are renting may be missing a great opportunity to be building

known as the Great Recession. (be versatile know other facets of the real

estate industry like property management for others and owning rental

property for yourself for the rental income)

today-

equity in something for themselves. In many parts of the city your mortgage

payment owning a house can be as much as a third less than the amount of

rent you would pay for the same house. Down payment assistance is

available in many cases—because remember you want to keep money saved

in case of a rainy day. If you want to start buying real estate rental homes to

build up your retirement portfolio, I would love to help you MAKE A PLAN,

WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, DO IT

TODAY. On the air right now 901 535 WREC 901 535 9732 or call me

directly at 901 482-0354 or connect with me on the blog www.JoGarner.com

____________________________________________________________________________

 4th segment REAL ESTATE TIP OF THE WEEK: (Tom or Jimmy or Jo can

offer a practical real estate tip that is time-saving or money saving)

 Jo’s announcements:

 Talk Shoppe offers free education and networking to anyone interested in real estate or

business. This Wednesday March 18th 9A-10A Memphis Angie Bramlitt of Memphis

Consumer Credit Agency will be discussing “Understanding Your Credit and Your Credit

Scores” at University of Phoenix 65 Germantown Court 1st floor Cordova, TN 38018. For

more information about Talk Shoppe, go to www.TalkShoppe.com

 To hear today’s podcast of the Real Estate Mortgage Shoppe and others, go

to www.JoGarner.com

Famous quotes: Those who do not remember the past are condemned to repeat it.George Santayana

History will be kind to me for I intend to write it. Winston Churchill

Who does not know that the first law of historical writing is the truth’. – Cicero

If you want to understand today, you have to search yesterday. ~Pearl Buck

“Adventure will take you anywhere, but romance will keep you there.” Jo Garner

“Make A Plan, Work Your Plan. If the deal works for you today, do it today.” Jo Garner

____________________________________________________________________________________________

Transitional Music: “Walking In Memphis” Marc Cohn; “That’s How I Got To Memphis” Bobby Bare;

“Memphis Beat” Jerry Lee Lewis; “Memphis” by Johnny Rivers

ABOUT JIMMY OGLE:

Jimmy Ogle is featured in several publications, such as the Commercial

Appeal, Memphis Daily News, Best of Times, Des Moines Iowa Register where

With the American Queen Riverboat on the Mississippi River

behind him Memphis historian Jimmy Ogle shows off an ear of corn he picked at the Field of

Dreams site in Dyersville, Iowa. Ogle later had actor James Earle Jones who appeared

in the movie Field of Dreams autograph for him. Ogle has been to the Field of Dreams site in

Dyersville four times. The Des Moines Iowa Register says of Ogle, “Rest assured that Ogle

will run out of breath long before he runs out of facts about Memphis. And he rarely runs

out of breath.

Education:

Graduated with B.S. in Education from University of Memphis, 1980

Graduated Memphis University School, 1970

Employment History:

Public Records Commission, County of Shelby, Chairman, 2014-present

West Tennessee Historical Society, Vice President Shelby County, 2014 – present

Shelby County Courthouse Restoration Committee, Member, 2014-present

Community Engagement Management, Riverfront Development Corporation, 2011-

Tournament Services Coordinator, FedEx St. Jude Classic, 2010-2012

Program Specialist, Memphis Convention & Visitors Bureau, 2009-2010

General Manager, Beale Street Landing, 2013-present

2013

Vice President, Ericson Group Inc, 2003-2009

Director, Memphis Rock ‘n’ Soul Museum, 2000-2003

Vice President of Operations, Performa Entertainment (Beale Street) 1998-2000

Special Events Supervisor, Memphis Recreation Department, 1979-1983

General Manager, Memphis Queen Line, 1993-1998

General Manager, Schorr Management Company, 1987-1989

General Manager, Mud Island, 1985-1987 and 1989-1993

Deputy Director, Memphis Park Commission, 1984-1985

Administrative Manager, Memphis Park Commission, 1983-1984

Church Recreation Specialist, First Baptist, 1973-1979

Community Organizations:

Shelby County Task Force for Mississippi River Corridor, Member

West Tennessee Historical Society, Board Member

Citizens To Preserve Overton Park, Board Member

Cotton Museum at the Memphis Cotton Exchange

Save Libertyland/Remember Libertyland, President

Memphis Zoological Society

Memphis Heritage

Park Friends, Inc

Shelby County Historical Commission, Member & Chairman (2011-2013)

Davies Manor Association, Board Member & President, 2013-2014

Delta Everything Southern Conference, Planning Committee Member, 2012

Mississippi River Corridor Tennessee, Board Member, 2011-2013

 

Scoreboard Operator, University of Memphis Men’s Basketball

Instructor, Meeman Center For Lifelong Learning, Rhodes College

Scoreboard Graphic Artist, American Junior Golf Association

Tour Guide, Center City Commission, Downtown Walking Tours

Actor, Elmwood Cemetery Costume Twilight Tour

Step-On Guide, Memphis Convention & Visitors Bureau

Interests (“Hobby Jobs”):

Stat Crew, University of Memphis Football

Member, Citizens To Preserve Overton Park

New York Times Crossword Society Member

Group Lecturer

ABOUT TOM KING:

Tom is a well- respected and sought after appraiser in Memphis, Tennessee. He is a

second generation appraiser with 40 years experience. He has been elected to the

Memphis Area Association of Realtors Board of Directors three times.

Tom is a certified residential appraiser in Tennessee. He have appraised over 20,000

homes in his career. A graduate from the University of Tennessee with a degree in real

estate, Tom is also a Certified Relocation Professional (CRP). Tom also has vast

experience in dealing with the county and state boards of equalization and in valuations

of property for tax appeal purposes. (901) 487-6989

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.BIZ 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.