Behind the Numbers: Real-Life Stories & Real-World Real Estate Appraisal Tips

“Behind the Numbers: Real-Life Stories & Real-World Real Estate Appraisal Tips”

Are home values rising, leveling, or slipping in your neighborhood? And what can you do TODAY to make your home appraise higher this year?”)

 

Host Jo Garner #MortgageExpert #LoanOfficer 901 482-0354

Co-hosts; #TomKing #midsouthappraiser /Bill King Company 901 487-6989

#AllenMcCool #memphisappraiser Stephenson and Associates

901 550-2100

Subscribe for weekly Real Estate Mortgage Shoppe podcasts with show notes at www.JoGarner .com

#memphismortgage #homeappraisal #homebuyer #homeseller

#realtor #realestateinvestor #memphisrefinance

LET’S GET STARTED…(Jo) (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 Originator.  You can connect with me at www.JoGarner.com. Our topic is: “Behind the Numbers: Real-Life Stories & Real-World Real Estate Appraisal Tips”

Introducing Tom King, Appraiser with Bill King Company

Tom King, our expert appraiser with Bill King Appraisal Company has got some good advice for you or someone you know about home values and appraisals.  Also joining us on Real Estate Mortgage Shoppe is appraiser Allen McCool of Stephenson and Associates.

Today is November 22^nd, 2025

Introducing Our Appraiser Experts

 

Tom King of Bill King Appraisal Company and Allen McCool of Stephenson and Associates

(Jo) Tom King, our expert real estate appraiser is co-hosting our show. Besides over 40 years of home appraising,   Tom has done a lot of daring sky dives in his life—he knows how to keep a list of mistakes to avoid for that hobby too.   I think you said there is a motto in skydiving—“if at first you don’t succeed, skydiving is probably not for you.”    Take a minute or so and tell our new listeners a little bit about yourself and the types of appraisal services you offer your clients.

(Tom has about a minute or so to intro himself and talk about services he offers)

 

Allen McCool, Appraiser with Stephenson and Associates

 

(Jo) Allen McCool, long-time, very experienced appraiser with Stephenson and Associates  is 

joining us for the first time on Real Estate Mortgage Shoppe.  Allen, like Tom, you are also

multi-talented.    Allen, not only are you an often recommended and respected real estate 

appraiser, but you are a talented drummer, guitar player, singer a  composer.(check out his

 music on www.AllenMcCool.com  Wow! So much talent in the room. Take a minute or so and

 tell our audience a little about yourself andwhat services you offer your  clients. (Allen has

 about a minute to share a little about himself and the services he offers his clients.)

 

 

(Jo) 

WHY IT PAYS TO GET BEHIND THE APPRAISAL NUMBERS 

Randy the Realtor-Scopes Out A Solution To Raise Appraisal Value

 

Real estate professionals who can analyze a home appraisal bring massive value to the real estate transaction and their customers. More importantly, Randy personally knew the other realtors in the neighborhood who had been selling homes there.   Randy the Realtor listing was for a seller who had spent money upgrading their kitchens and bathrooms.  Randy based the list price on  houses that also had upgraded kitchens and bathrooms in that neighborhood. Even though Randy’s seller had upgraded his home with granite countertops, hardwood floors, and updated plumbing fixtures and Randy felt it should have appraised for the top price, the appraisal came in $10,000 lower than the sales price.  The seller was tight on money and would not sell at a price $10K lower than the list price. 

 

Randy the Realtor put on his sleuthing cap and started researching the homes the appraiser used as comparable sales.    Randy found that the appraiser had used homes that had not been updated.  Randy got details from his other realtor friends in the neighborhood to put together a report showing the homes with upgrades sold for much higher than the value the appraiser had given.  The report was sent through proper channels.  By pointing this out to the appraiser, Randy could get the appraisal value on his listed home increased by $8,000—enough to make the terms work for both the buyer and the seller.  

 

It pays to know your way around the neighborhood.   It pays to get behind the numbers on a real estate appraisal . 

 

(Jo) Tom and Allen, you have some helpful wisdom for us.   Please jump in until we head to break.  (Tom and Allen start sharing from one of their topics until break)

 

 

 

 

OUTRO: You’re on Real Estate Mortgage Shoppe. I’m your host, Jo Garner, Mortgage Loan Originator. What do YOU want to accomplish with YOUR mortgage?  I can make the mortgage process EASY for you with the right mortgage. Connect with me at JoGarner.com   When we come back, we will be hearing more from appraiser Tom King of Bill King Company and Allen McCool of Stephenson and Associates.    

 

 

 

 

 

2nd segment is after first  break  8 minutes 50 seconds 

 

( Waaka Waaka song in background ) COMIC QUERIES (you probably already know the answer, but we will ask anyway 

Riddle:
I walk through your house but I’m not a buyer.
I measure your rooms, but I’m not a designer.
I don’t move in, I just write things down,
And what I say can make you frown.
I don’t sell homes, I don’t collect rent—
But everyone blames me for the number I sent.
Who am I?

Answer:
A real estate appraiser! 😄

 

 

 

Today on Real Estate Mortgage Shoppe, we are talking about 

““Behind the Numbers: Real-Life Stories & Real-World Real Estate Appraisal Tips”

”

I’m your host,  Jo Garner, Mortgage Loan Originator . For your home purchase or a mortgage refinance you can brag about,.   I want to hear your story.  We can find the right mortgage product and make the mortgage process EASY.  Connect with me at JoGarner.com

Tom King, appraiser with Bill King Company   901 487-6989

Allen McCool, Appraiser with Stephenson and Associates 901 763-2100

 

___________________________________________________________________________

TOPICS BY TOM KING, APPRAISER WITH BILL KING COMPANY  

TOPICS BY ALLEN MCCOOL, APPRAISER WITH STEPHENSON & ASSOCIATES

 

Poplar Appraisal Topics

• What appraisers look at first
• The biggest misconception homeowners still have in 2025
• What matters vs. what doesn’t
• Why the house across the street may be valued higher than your house

Mini-Story Moment

• A 2025 appraisal that surprised a homeowner (short “wow” story)
• “In 2025- 2026, what renovations or updates give the most bump in value?”

Talking Points

(Share a brief story or illustration as an example of one of these points )

• Kitchens & baths
• Smart-home features
• Energy efficiency upgrades
• Updated roofs, HVAC, windows
• Flooring trends
• Curb appeal in 2025-2026
• “What doesn’t move the needle—even though homeowners think it does?”

Talking Points

• Over-customized features
• Extremely high-end finishes in modest neighborhoods
• Landscaping that’s too personal
• Pools (when they help vs hurt)

Low Appraisals, Market Shifts & What to do About It 

• Tom or Allen Explains
  • Market pockets
  • Outdated comps
  • Condition issues
  • Hybrid/desktop appraisal challenges
  • What is the best method for a homeowner to contest a low appraisal value?

Appraisal Advice From Allen

Advice for the homeowner preparing for an upcoming appraisal. The overall goal is to help the appraiser do the best job possible, without over-stepping or trying to dictate an outcome.

 

1. ‎ Make sure that all living and storage areas, including attics and basements, are accessible. De-clutter if time permits, but at a minimum ensure that all areas can be observed. If any living areas are concealed behind a bookcase, for example, or accessed by a stairway with a closed door, it would be a good idea to point those out.

 

2. Make a list of any additions, upgrades, or major repairs you have done to the property, along with the dates completed.

 

3. Point out or make a list of any features or aspects, good or bad, that you would like the appraiser to take into consideration. This could also include any comparable sales you are aware of that you feel provide a good reflection of your home’s value, or any that you think are not relevant due to a distress sale, etc.

 

4. Ask any questions you may have about the appraisal process. However, do not attempt to elicit a conclusion about the value of your home.

 

5. Remember the appraiser is gathering data at this point, and is interested in hearing any input you may want to provide, but is not prepared, or allowed to share any conclusions.

 

 

 

 

3^RD SEGMENT 12 minutes

 

 

I am going to describe to you a well-known home in the Memphis area whose original owner AND subsequent owner continued adding features and improvements to the home to the point that it was completely, over-the-top overbuilt for the neighborhood.

The house has over 17,500 square feet.  Some of the additions included a swimming pool in one of the bedrooms, an entire wing being added to the home with an additional swimming pool, stables for the horses, a four-car garage and lots of personal property like televisions, expensive décor and musical instruments.  Today the former owner’s airplane is parked nearby.  Do you know which famous house this is?   

Tom, I believe you had the opportunity to work as an appraiser on this house.   Bet YOU can tell us the answer to this “did you know” question

 

Tom gives the answer — Elvis Presley’s Graceland home

__________________________________________________________

• Today on Real Estate Mortgage Shoppe, we are talking about 
• “Behind the Numbers: Real-Life Stories & Real-World Real Estate Appraisal Tips”
• ”
• I’m your host,  Jo Garner, Mortgage Loan Originator . For your home purchase or a mortgage We can find the right mortgage product and make the mortgage process EASY.  Connect with me at JoGarner.com  
• Tom King, appraiser with Bill King Company   901 487-6989
• Allen McCool, Appraiser with Stephenson and Associates 901 763-2100
•  

 

 

 

TOPICS COVERED BY JO GARNER, LICENSED MORTGAGE OFFICER

 

PAY ATTENTION TO THESE REPAIRS BEFORE YOU PAY THE MORTGAGE COMPANY TO SEND THE OUT AN APPRAISER

If there will be a full appraisal on the property you are financing, please inspect the subject property for repairs that may be required prior to closing by the appraiser.

   Some common required repairs are:

1.  leaky roof, 
2. rotted wood, 
3. peeling paint, 
4. torn flooring, 
5. broken tile, 
6. non-functional plumbing, electrical or HVAC systems, 
7. drainage problems, Mold
8. holes in sheetrock, 
9. broken windows, 
10. foundational problems, termite damage, hazardous waste on property,  etc.   

If the property is in a flood zone, flood insurance will be required. Appraisal values are determined by the assigned appraiser.   

The mortgage company must order the appraisal from the approved agency.  Appraisals from other mortgage companies and appraisals ordered by anyone else, are not qualified to be used under current loan regulations.

If the property that will be appraised is classified as a manufactured home, modular home or mobile home, not build onsite, please let the loan officer know right away.  (Examples of homes that may require a unique loan program are manufactured homes, mobile homes, condominiums, cooperatives, geodesic homes, barndominiums, berm homes, log cabins, homes with multiple parcels or with more than one home on the property, properties with income producing business activity, properties with more than 4 units.)    Appraisal fees are not refundable. 

Roof causing a leak in mortgage approval

One of the life-long dreams Tal and Tia  Thompkins have yearned for is to travel around the world doing cruise ship vacations with a travel group of friends.  The obstacle stubbornly preventing the Thompkins from getting to see the world was MONEY—or not enough of it.

The Thompkins were excited about reinventing themselves as frequent cruise ship adventurers.   They were smitten by a very small, sort of rustic older place with a minute sized storage shed to match the style of the home and a low maintenance, postage stamp sized lawn.  Tal and Tia felt at home in the quaint neighborhood and the smaller place would expand their free time and money too. It was just big enough for the kids and grandkids to visit, but not to move back permanently with mom and dad. 

Bad news came like a black cloud with the home inspection though.   The home needed a major roof repair which was going to cost about right under $5k. The mortgage company required this to be repaired before closing since it affected the structure and habitability of the house.  It looked like a stalemate since home repair contractors were backlogged with work and at that time and could not be available for several weeks.   The sellers would not have enough money to pay for it until the home closed and the Thompkins did not want to spend $5,000 on a roof for a home they did not own yet. 

In this case, the realtor had developed her trusted group of home contractors.  One of the contractors agreed to prioritize the repair and get it completed right away. Because of the level of trust he had with the realtor, he even agreed to wait to be paid until AFTER the closing.  The realtor helped negotiate for the seller to pay for the roof repair AND have it done before closing, but only AFTER the Thompkins mortgage was fully approved subject only to the repair being done.  The roofing contractor agreed to be paid the day the home sold and the sellers had received their money at the closing table.      It was a happy ending helped by the realtor, the lender and the buyer and sellers being willing to negotiate creatively. 

 

OTHER ROUTES AROUND REPAIR ISSUES ON A MORTGAGE 

If the house you want to buy will need a lot of repairs but you want to buy or refinance it,

 

A good mortgage officer will try to submit your mortgage application through more than one underwriting software system to see if you can get an appraisal waiver. 

Consider getting a Renovation and Repair loan that includes part of the renovation costs but those loans are more expensive. 

If weather or back-ordered materials are needed to cover the repair items mentioned on the appraisal, ask for an exception from the mortgage company to allow the cost of these items to be held in escrow and completed after the closing 

I have more ideas too that might work for you, so call me 901 482-0354. 

MAKE YOUR PLAN. LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, LET’S DO IT TODAY.   I can make the mortgage process easy. Connect with me at www.JoGarner.com   You can email me at Jo@JoGarner.com or call me at (901) 482-0354 

 

 

4^th Segment  8 minutes and 50 seconds

 

 

(THE SONG UpBeat Inspirations  PLAYING IN BACKGROUND )    INSIGHTS & INSPIRATION

“The Old Violin” — Short Anecdotal Story

An elderly man walked into a small-town auction carrying a dusty old violin. The strings were loose, the finish was faded, and most people assumed it was just another attic relic worth almost nothing. The auctioneer started the bidding at ten dollars… then five… then one. No takers.

Just as he was about to set it aside, a gray-haired music teacher stepped forward.
He gently tightened the strings, wiped off the dust, and played a few soft, beautiful notes that filled the room.

Suddenly, people leaned in.
Hands shot up.
The same violin that couldn’t get a single dollar now sold for over $700.

Afterward someone asked, “What changed? It’s the same violin.”

The teacher smiled and said, “Nothing changed… except the way you saw it.”

Moral:

Value doesn’t disappear just because others don’t notice it.
Sometimes it simply needs the right person—or the right moment—to bring it out.
And the same is true for you.

 

 

• Today on Real Estate Mortgage Shoppe, we are talking about 
• “Behind the Numbers: Real-Life Stories & Real-World Real Estate Appraisal Tips”
• ”
• I’m your host,  Jo Garner, Mortgage Loan Originator . For your home purchase or a mortgage refinance you can brag about,.   I want to hear your story.  We can find the right mortgage product and make the mortgage process EASY.  Connect with me at JoGarner.com
• Tom King, appraiser with Bill King Company   901 487-6989
• Allen McCool, Appraiser with Stephenson and Associates 901 763-2100
•  

 

 

 

 

 

REAL ESTATE TIP OF THE WEEK 

Tom King and Allen McCool share a tip about real estate appraisals: 

Dogs and appraisers.   No matter hard an appraiser might try, dogs don’t tend to like appraisers marching around in the yard and in their house.  

 

Suggestions for appraisal tips (or whatever you choose to use)

Make provision for your dogs before the appraiser gets to your home 

 

Jo Garner

Tip Remember the taste of a 7-UP soft drink?   If you have  a mortgage rate of 7% or UP, call me.  You may need to refinance to lower your mortgage rate.  If you have lots of credit card debt with double-digit interest rates on the credit cards and other debt, consider refinancing and rolling in those high rate debts.  Then don’t rack up any more debt on the credit cards.  Since there is no prepayment on the mortgage, we can set it up so you can easily prepay the mortgage off. 

What do YOU want to accomplish with YOUR mortgage?  I have the knowledge and experience. Let’s look at traditional mortgage products, alternative mortgage products and even combinations of products. I can help you get you what you need and make the mortgage process EASY.     Jo Garner, Mortgage Loan Officer 901 482-0354   www.JoGarner.com 

 

ANNOUNCEMENTS:   

Talk Shoppe equips with education, engages by offering connection opportunities between business people and empowers businesses in a supportive community. Talk Shoppe meets every Wednesday 9A-10A CT at Independent Planning Group’s conference room 110 at Clark Tower 5100 Poplar Ave 1^st floor Memphis, TN

(Thank you Ben Hunter 901 660-2912 outstanding Financial Professional at Independent Planning Group for being Talk Shoppe’s location sponsor)

Talk Shoppe on Wednesday November 26^th, 2025 9AM  “OPEN MICROPHONE- take a few minutes to share #1. Something new in your business, #2 Things in life that make you thankful, #3 If you could do anything you wanted to do in life and money were no object, what would you do?

(bring some breakfast snacks.   Very casual setting)

Talk Shoppe says thank you to the generous sponsors who make the free education and networking possible to our local business community like Lawren Bogard of Shelby Gardens Memory Care in Cordova.

Stephanie Jones of Evernest Property Management in the Memphis area.   Stephanie and Evernest Property Management can take the headaches out of owning real estate rental properties.  Contact Stephanie Jones at  (901)   660-2812

Thank you to private, hard money lender Craig Jennings of Avalon Capital for your generous contributions that goes toward making Real Estate Mortgage Shoppe possible.  When you want to invest to buy rental property and need the money for your purchase and repairs so you can resell at a higher price, call Craig Jennings of Avalon Capital at 901 417-8427

Congrats to our Talk Shoppe Sponsors who were honored at the Memphis Most Community Awards (there were many but here are a few)

MidSouth Home Helpers, 

Leah Anne Morse of All Things New

Donna Roach of Hearthside Senior Living 

Mark McLaurine of Refrigeration Unlimited and more 

SPECIAL NOTE: REAL ESTATE MORTGAGE SHOPPE DOES NOT ENDORSE 100% OF THE CONTENT ON THIS EPISODE.  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, AND NOT AN OFFER TO LEND.  EXAMPLES GIVEN FOR ILLUSTRATION PURPOSES ON REAL ESTATE MORTGAGE SHOPPE AND MOST ARE BASED ON TRUE STORIES BUT WE USE FICTIONAL CHARACTERS AND DO NOT DIRECTLY REFLECT REAL PEOPLE OR EXACT DETAILS IN ANY OF THE SITUATIONS. JO GARNER IS A LICENSED MORTGAGE LOAN ORIGINATOR. (EQUAL HOUSING OPPORTUNITY)

QUOTE CORNER:  Pinterest  “The happiest people don’t have the best of everything, they just make the best of everything they have”

 

ACKNOWLEDGMENTS AND CREDITS

REJOINDERS:  

1. Troy and Lynn McDonald of Erin McDonald Allstate Insurance  901 849-7101
2. Rob Draughon and Shelley Rothman of Griffin, Clift, Everton and Maschmeyer Law Firm 901 752-1133
3. Silvana Piadade Exp Realty Tn and North MS English and Spanish speaking realtor 901 647-6661

 

Transitional Music: First Segment    “WAAKA WAAKA” (PD) for Comic Queries;    “Brighter Tomorrows” by Stocktunes for Did You Know segment;  “Upbeat Inspiration” by Ikoliksaj for Insights and Inspiration segment.

INTRO AND OUTRO THEME MUSIC  “Country Roads” by Sergie Pavkin

PICK UP YOUR COPY OF “CHOOSING THE BEST MORTGAGE-THE QUICKEST WAY TO THE LIFE YOU WANT” by: JO GARNER

 

An essential guide for real estate professionals and their customers.

 

On Amazon and Barnes and Noble

ABOUT ALLEN MCCOOL, APPRAISER WITH STEPHENSON & ASSOCIATES

Allen McCool is a real estate appraiser with Stephenson and Associates. Holding the SRA designation from the Appraisal Institute, Allen has appraised residential property in Shelby County, TN for over 35 years, serving a variety of clients, including lenders, attorneys, and individuals. Allen applies a wealth of knowledge and analytical skill to each assignment, provides clarity in reporting results, and is a reliable provider of solutions to challenging real estate problems. 901 550-2100

___________________________________________________________________

ABOUT TOM KING, REAL ESTATE APPRAISER

Tom is a well- respected and sought after appraiser in Memphis, Tennessee.  He is a second generation appraiser with 40 years of 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 appraising real estate for pre-listing sales, cash buyers, divorce settlements, estate settlements. (901) 487-6989

 

ABOUT JO GARNER-MORTGAGE LOAN OFFICER:

www.JoGarner.com     (901) 482 0354  jo@jogarner.com  X     @jogarner   NMLS# 757308 

(currently working with Everitt Financial dba Supreme Lending)

ONLINE LOAN APPLICATION :   https://jogarner.supremelendingLO.com 

 “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 helping her clients find the right mortgage program and making the refinance or home purchase mortgage process EASY.  She offers conventional, FHA, VA or other loan programs for primary residences, second homes and investment properties.  

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 30 years.  She grew up in West Tennessee and got her start in real estate 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 30 years.