Memphis, TN has been making the headlines. What are some positive points you can share that is helping sell Memphis real estate? Lee McWaters, our Memphis Area Association of Realtors president will be covering some of these positive points. I will be sharing some stories to show why it is easier to get home financing in Memphis than some other higher priced areas of the country.
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What do YOU want to accomplish with YOUR mortgage? Let’s talk about your plan. I am here to lend you a hand….and the right mortgage to get you where you want to go.
To Your Success,
Jo Garner, Mortgage Loan Officer NMLS #757308
(901) 482-0354 Jo@JoGarner.com www.JoGarner.com
WELCOME TO REAL ESTATE MORTGAGE SHOPPE!
Good morning, Memphis! Welcome to our internet listeners and podcast listeners across the 50 states! You’re on Real Estate Mortgage Shoppe. I’m your host, Jo Garner, Mortgage Loan Officer. You can connect with me at www.JoGarner.com. Thank you to John Brawner, branch manager for Mortgage Lending Partners powered by HomeVantage for sponsoring this episode of Real Estate Mortgage Shoppe. If you are looking for a supportive place to take your mortgage career to the next level, call John at (901) 832-5519. Today we are putting a SPOTLIGHT ON MEMPHIS- POSITIVE POINTS THAT SELL MEMPHIS REAL ESTATE. Subscribe to get our weekly blogposts with podcasts at www.JoGarner.com. Call us while we are live at (901) 535-9732 Today is March 23,2019.
POSITIVE POINTS THAT SELL REAL ESTATE IN MEMPHIS
(Jo) Memphis, TN has been making the headlines. What are some positive points you can share that is helping sell Memphis real estate? Lee McWaters, our Memphis Area Association of Realtors president will be covering some of these positive points. I will be sharing some stories to show why it is easier to get home financing in Memphis than some other higher priced areas of the country.
INTRODUCING LEE MCWATERS, PRESIDENT OF MEMPHIS ASSOCIATION OF REALTORS
(Jo) In the studio with us we are honored to have the president of Memphis Area Association of Realtors, Lee McWaters. Lee you have a long and successful history in real estate. You are owner-broker at your family real estate agency, McWaters and Associates. You have a great vision for Memphis Association of Realtors and for the real estate industry in the Memphis area. Take about a minute to tell us a little bit about yourself and about Memphis Area Association of Realtors. (Lee introduces himself and talks about MAAR)
THE PELLETIER’S STORY- SLOGGING THROUGH THE NEGATIVES TO THEIR BREAKTHROUGH
(Jo) Like you, I have also been in my career for a very long time-over 25 years in the mortgage business. I love this business! Yesterday, I was talking with one of my realtor referral partners about a couple who had so many rough breaks in the early part of their marriage, that they had lost their jobs, their savings, their cars and finally they lost their home too. It was during the economic crash a few years ago. It seemed no matter how positive they tried to think, the bad breaks kept coming.
No matter how many times Pierre and Paulette Pelletier tried to get their credit back to a decent credit score, something else would happen to punch it back down again. They felt doomed to have to raise their children in the cramped apartment with no hope of every owning a home again.
After a time, they kept getting raises at work for their high performance. They worked just as hard on paying down the balances on their credit cards and paying off their cars. I had a chance to work with them when they came to me to be preapproved for a mortgage and started the house-hunting again.
Their dream house was still way outside their budget. But their realtor knew that Pierre was skilled at home renovations. They found a house that was in good shape and had the layout they wanted, but had not been updated with new fixtures and countertops. The attic over the double garage had never been finished. One day they called me ecstatic that the seller of that house had accepted their offer. They were jubilant that the big break through had finally arrived.
I took a deep breath and leaned back in my chair. “This is why I love the mortgage business,” I reminded myself. Moments like that one, experiencing some of the hope and excitement with the Pelletier’s—that’s what has kept me the mortgage business all of these years.
SOME POSITIVE POINTS SELLING MEMPHIS REAL ESTATE
Lee McWaters, you have been in the real estate business a long time. Even as a child you probably heard your parents talk about the real estate business over the table. As president of our Memphis Association of Realtors, what are some positive points that you see that help sell Memphis real estate? (Lee McWaters launching into his topic)
You’re on Real Estate Mortgage Shoppe. I’m Jo Garner, your host, Mortgage Loan Officer. Connect with me at www.JoGarner.com You can also call me at (901) 482-0354. What do YOU want to accomplish with YOUR mortgage? MAKE YOUR PLAN. LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, LET’S DO IT TODAY. When we come back, Lee McWaters of McWaters & Associates and president of Memphis Association of Realtors will be sharing about some more positive points that are selling Memphis real estate.
LOOK BACK MEMPHIS TRIVIA CONTEST
Our Look Back Memphis Trivia Contest is brought to you by notable Memphis historian, Jimmy Ogle. Jimmy Ogle offers free historic walking tours downtown in the spring and fall. For information about Jimmy Ogle, go to www.JimmyOgle.com . The Look Back Memphis Trivia Contest is sponsored by John and Jennifer Lawhon of Lawhon Landscape (901) 754-7474 the Lawhon’s can help you plan your landscaping if you have a BIG, BIG project or a smaller project or if you want to do the big project in phases. The Lawhons are giving away a $25 gift card to the first person with the correct trivia answer. If you know the answer to our trivia question, call us at 901 535 WREC 901 535-9732.
Garner # 150 * 03/23/19
Wonder Bread Factory & “The Edge”
Question: I am a Memphis icon for both sight and smell, once sending a warm, inviting scent of baking bread wafting all over Downtown and the Medical Center. Who am I?
Hint: I was opened in 1921 by Taggart Baking Company and later made Hostess Cakes.
Hint: I use to “help build strong bodies 12 ways”.
Final Hint: My address was 400 Monroe Avenue and I am now the centerpiece of new development in the district known as “The Edge”.
Answer: Wonder Bread Factory. The Taggart Baking Company of Indianapolis, Indiana, began producing Wonder Bread for a debut on May 21, 1921, following a blind promotion with ads that only stated a “Wonder” was coming on that date. The brand was named by vice president for merchandising development Elmer Cline, who was inspired by the International Balloon Race at the Indianapolis Motor Speedway. Cline was filled with “wonder” by the scene of hundreds of balloons creating a kaleidoscope of color resulting in the iconic red, yellow and blue balloons featured on the Wonder Bread logo. The logo was designed by commercial artist Drew Miller while he was on staff at a Chicago ad agency. In the 1950s, Wonder Bread further expanded advertising of its nutrient enrichments. The company sponsored Howdy Doody with host Buffalo Bob Smith telling the audience, “Wonder Bread builds strong bodies 8 ways. Look for the red, yellow and blue balloons printed on the wrapper.” By the 1960s, Wonder Bread was advertised with the slogan “Helps build strong bodies 12 ways,” referring to the number of added nutrients. In 1986, Continental introduced the lower-calorie Wonder Light bread. Wonder Bread in Memphis closed in 2012.
Today, a new residential and entertainment district is developing on “The Edge” of Downtown that is bounded by Sun Studio on the east and AutoZone Park on the west, with Orion Federal Credit Union playing a big part. The original Wonder Bread sign and neon will remain and refurbished. Used original bricks from interior of building will be cleaned and repurposed to outside. The building design concept will have 75,000 sq ft open work areas, views of downtown, multiple outdoor spaces, on- site parking for 130 employees, 200 stadium seated theatre for meetings, 280 apartments, retail center at end of building and most of parking garage exterior walls will be covered by 280 apartments, exposed part will be addressed by art, vegetation or covering. UrbanArt projects enlivened the Monroe Avenue streetscape of The Edge, which also has Sam Phillips Recording Studio, High Cotton Brewery, LEO Events, Heritage Building Supply, restaurants like Trolley Stop Market, Onix, Edge Alley and the Edge Motor Museum opening later this Spring. Plan on attending the Edge Motor Festival on Saturday, April 27 (edgemotorfest.com).
Jimmy Ogle will be giving FREE Walking Tours in Downtown Memphis during the first three Saturdays in May (4, 11 & 18) at 1:00 p.m. & 3:00 p.m… Go to JimmyOgle.com or MemphisInMay.org for more information.
TOPICS COVERED BY LEE MCWATERS, PRESIDENT OF MEMPHIS AREA ASSOCIATION OF REALTORS AND REALTOR/BROKER WITH MCWATERS AND ASSOCIATES
1. What are some positive points about Memphis that is encouraging people to buy in Memphis and the surrounding areas?
A. We are celebrating Memphis’s Bicentennial Year during Memphis in May– Discuss various events, such as BBQ Fest, Music Fest, #CelebrateMemphis on May 25 (https://www.memphisinmay.org/events/celebrate-memphis/)
B. Transition from Memphis in May tourism to- Memphis named a top place to visit in 2019 according to Frommer’s (discuss things to do in Memphis: food scene, Graceland, Civil Rights Museum, Zoo, Bass Pro, Beale Street, Mud Island, Big River Crossing, Botanic Gardens, Brooks Museum, Children’s Museum, etc.
C. Not only is tourism booming, but the economy is growing- according to Bloomberg, Memphis is one of the 3 top 3 large metro areas in the US that unemployment rate has decreased and employment growth- “During the recession, in July 2009, there were more than 65,000 Memphians without a job. Now, there are fewer than 25,000 people without a job …”
D. : Transition into major companies based in Memphis: FedEx, Service Master, AutoZone, St. Jude, Pfizer, International Paper
E. Talk about how all of this ties into Memphis being a great, affordable place to live… the booming housing market- Memphis remains one of the most affordable places to live, with average rent and home prices lower than the national average- Memphis’ average sales price is about $163,000 with the national average over $ 200,000
2. What are the top reasons to use a realtor when you buy or sell a home?
TOPICS COVERED BY JO GARNER, MORTGAGE LOAN OFFICER
1. What are some reasons you see that make mortgage terms more attractive in the Memphis area?
Affordability –cheaper to buy than rent comparable home
Good rental market creates multiple exit strategies
Stable market values as compared to nation—not rising or dropping precipitously
Multiple industries established in the Memphis job market
2. What are some common struggles that you see mortgage clients have to overcome?
Helping mortgage clients overcome the 4 common barriers- a. Funds to close (no, the minimum down is not 20%. It is zero to about 3% to 3.5%)
b. Credit issues We are not credit repair companies. We have clients send information needing to be corrected back to the creditor and the credit bureaus. But here are some observations—(make payments on time, clear up collection accounts that are getting reported every month, keep revolving accounts usage under 30% or even under 10% of the credit limit, stay away from 12-months-same-as-cash)
c. Income issues (self-employed borrowers, investors, getting dti down, d. appraisal – watch out for houses with safety, soundness, escrowing for some repairs, negotiating with seller early in process to help pay for some repairs)
REAL ESTATE TIP OF THE WEEK
(Lee McWaters shares tips for buyers and sellers. Buyers –be prepared, be preapproved with a good lender, know your personal limits, be ready to move fast. Sellers—in order to get the most for your home, do the decluttering and repairs to the obvious places in your home to make it look its best BEFORE you list it
Talk Shoppe offers free networking & education to anyone interested in real estate or in business. Talk Shoppe meets every Wednesday 9A-10A CT at Pinot’s Palette 8225 Dexter Rd Cordova, TN. This Wednesday Talk Shoppe presents “The Mastermind Principle-based on the book Think and Grow Rich by Napoleon Hill. For more information about Talk Shoppe www.TalkShoppe.com
Talk Shoppe events are free thanks to advertisers like Gina Davis of www.FindVendorBooths.com This website helps you find the events that fit your needs. You can get the contact info for the event organizers and even secure your on event booth for promoting your business.
Thank you also to Nita Black of www.901elearn.com Be the teacher on this site. Share your ideas and make money doing it.
3. Thank you to John Brawner, Memphis mortgage branch manager for Mortgage Lending Partners powered by HomeVantage.
4. Subscribe at www.JoGarner.com and you can get our weekly blog posts with podcasts conveniently in your inbox.
5. Real Estate Mortgage Shoppe reminds you to MAKE YOUR PLAN. LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, DO IT TODAY.
SPECIAL NOTE: REAL ESTATE MORTGAGE SHOPPE RECOMMENDS THAT YOU CONSULT WITH A FINANCIAL, LEGAL OR OTHER CERTIFIED, LICENSED PROFESSIONAL BEFORE ACTING OR INVESTING ON ANYTHING YOU HEAR OR SEE FROM THE CONTENT ON THIS SHOW OR BLOG POSTS. THE INFORMATION WE SHARE ON REAL ESTATE MORTGAGE SHOPPE IS GENERAL IN NATURE MEANT FOR GENERAL EDUCATIONAL PURPOSES ONLY. ALL EXAMPLES GIVEN FOR ILLUSTRATION PURPOSES ON REAL ESTATE MORTGAGE SHOPPE USE FICTIONAL CHARACTERS AND DO NOT REFLECT REAL PEOPLE OR ACTUAL DETAILS IN ANY OF THE SITUATIONS.
Herm Albright “A positive attitude may not solve all your problems, but it will annoy
enough people to make it worth the effort.”
MarkAMoment.com “The greatest discovery of all time is that a person can change his future by merely changing his attitude.”
1. Mary Jane Lessley, Signs Now in Memphis, TN www.SignsNowMemphis.com (901) 368-0784
2. Tom King, Bill King Appraisal Company (901) 487-6989
3. Mary Lou Nowak, MidSouth Home Helpers (non-medical assistance in the home) (901) 414-9696 www.homehelpershomecare.com
Transitional Music: “Proud Mary” Ike and Tina Turner; “Walking in Memphis” by Marc Cohn; “Memphis Beat” by Jerry Lee Lewis; “Memphis” by Johnny Rivers for the Look Back Memphis Trivia Contest
ABOUT LEE MCWATERS, OWNER/BROKER MCWATERS AND ASSOCIATES
PRESIDENT OF MEMPHIS AREA ASSOCIATION OF REALTORS
ABOUT JO GARNER-MORTGAGE LOAN OFFICER:
WHAT DO YOU WANT TO ACCOMPLISH WITH YOUR MORTGAGE?
www.JoGarner.com (901) 482 0354 firstname.lastname@example.org twitter @jogarner NMLS# 757308
“Whatever YOUR personal priorities are, my job is to help you get the mortgage terms that will give you bragging rights when you talk about it and help you score on hitting your goals .”
As a mortgage loan officer, my job is to help you get to the benefits you want from your financing terms. What is most important to you? I can help you find the financing terms that will help you get to what you want. What is your comfort level on a house payment? How much are you comfortable paying down,? What type of financing do you need to get the house you want to buy or refinance?
Different clients have different priorities in life—some are buying their first home with very little down payment funds. Some are recovering from medical challenges, divorces or preparing to send children to college and some are embarking on a long term goal of buying properties to build rental income.”
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 25 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 25 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 Jo Garner also host the radio show Real Estate Mortgage Shoppe airing on News Radio AM 600 WREC and iHeart Radio with podcasts and show notes published on www.JoGarner.com