Today we will go back to some fond memories of how to fly a kite. Tom King, our expert real estate appraiser will be looking at where are home values are leaning. I will be showing you which way the wind is blowing in the mortgage markets.

What do YOU want to accomplish with YOUR mortgage? Jo Garner is a licensed mortgage originator who can help you find the right mortgage program. She can make the mortgage process EASY.

Host: #JoGarner #MortgageExpert (901) 482-0354

Co-host: #TomKing #memphisAppraiser (901) 487-6989

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

#memphisrealestate #memphismortgage #homebuyer #memphishousingmarket

LET’S GET STARTED…(Jo) (Good morning, Memphis! Welcome to our internet listeners and podcast listeners across the 50 states! . Today is March 2nd, 2024. Call us in the studio while we are live at 901 535-9732.You’re on Real Estate Mortgage Shoppe. I’m your host, Jo Garner, Mortgage Loan Originator. You can connect with me at Our topic today is Catching the March Winds -Flow Into Homeownership in 2024. Thank you to real estate attorneys, Rob Draughon and Shelley Rothman of Griffin Clift Everton and Maschmeyer Law Firm for sponsoring this episode of Real Estate Mortgage Shoppe. When you are ready to buy a home or refinance one, call attorneys Rob Draughon and Shelley Rothman at 901 752-1133 to take care of your real estate closing.


Back in the studio we Tom King, our expert real estate appraiser with over 40 years experience in the Shelby, Tipton and Fayette Counties in Tennessee and with almost 13 years as co-host on Real Estate Mortgage Shoppe. You are definitely an expert on gauging wind directions. As an expert skydiver, you have gauged the wind before making hundreds of dives from planes, buildings and bridges. Take a moment and tell our new listeners a little bit about you and what you do for your clients as a real estate appraiser. (Tom has about a minute and a half to introduce himself and talk about the services he offers his clients)

Instruction and Inspiration of Kite-Flying

(Jo) Since we are talking about “catching the March winds” on this show, let’s go back and remember when we learned how to fly a kite. My father took my little sister and I out to a grassy field behind the house where we lived growing up. I was about four years old and could not figure out how we were going to get that flimsy contraption on a string to fly.

Even though we had a good breeze, my dad had to keep running this direction and that, holding the kite by a short string behind him. The kite would start to take flight and then crash to the ground. Suddenly, when my dad jerked in an odd direction, the kite caught the wind and popped up into the air. Daddy kept moving, allowing more and more string to roll out as the kite peaked higher into the sky.

Once the kite was steady in the air, my dad bent down, placed the stick with the string in my hand and closed my fingers around it. He instructed me, “Keep holding the string tight so the kite is always pulling up against it. Slowly give the kite more string, but not too fast. Oh, and… don’t let go of the string.” What an awe -inspiring moment to be the one guiding that kite so high in the sky!

There are some lessons we can learn from kite flying. #1. When you are in the home buying process, like kite-flying, you may have to look at this house and another house before the right house catches your heart. Once you have the house you want under contract, you still have to pay attention and do what you need to do to get your mortgage approved and go through the moving process.

When you finally move into your home, you still have to be disciplined with your finances, do home repairs and maintenance. As your income gradually goes higher and your fixed rate mortgage stays steady, you have more money to enjoy life. You can experience some awe-inspiring adventures on your bucket list-kind of like that feeling of flying the kite so high in the sky.

But remember rule #4-Don’t let go of the string. Want to know what happens to a kite if you release the tension of the string? The kite nose dives and hits the ground. The constant tension against the kite from the string is, not to restrict the kite, but to give it the pull it needs against the wind to stay in flight. When you own a home (or even if you rent,) if you spend more money than you earn and quit paying your bills on time, your financial life is headed for a nose-dive.

Instead, keep the vision of the life you want in front of you. Staying on your budget is not to restrict you, but to give you money to save, to give and to invest for a bigger, even better life later. As your wealth increases, you can let the string out so your kite can fly even higher.

If you are plan on buying a home or helping someone else buy a home, please contact me today to explore the best mortgage program. Who do YOU know that I can help with getting them the right mortgage for a home purchase or refinancing their home to get cash back? It’s easy to get started. Contact me at 901 482-0354 I can make the mortgage process EASY.

(Jo) Tom King, you are our real estate appraisal expert? Let’s get started until the 9: 15 am break talking about home values. (Tom King has until the 9:15 break and then he can continue between callers after the 9:15 bread)

Tom King talks about the real estate market in the Mid-South is steady. Currently homebuyers still have to deal with competing offers from others on the house they want, but the number of competitors has been greatly reduced.

This is a great time to buy a home because you can find sellers and lenders who will help you with your closing costs. Mortgage rates are down from last fall. You can “marry the house and date the interest rate.” In other words, you can buy the house now and, if mortgage rates drop enough later, you can refinance to a lower rate or lower payment.

(Jo) Makes the point that home values tend to go up over time. Cites the BLS and Inflation Gauge for Home Values

Prices for Housing, 1967-2024 ($100,000)

According to the U.S. Bureau of Labor Statistics, prices for housing are 966.19% higher in 2024 versus 1967 (a $966,188.41 difference in value).

Between 1967 and 2024: Housing experienced an average inflation rate of 4.24% per year. This rate of change indicates significant inflation. In other words, housing costing $100,000 in the year 1967 would cost $1,066,188.41 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 3.98% during this same period, inflation for housing was higher.”

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 When we come back we will be hearing more from realtor Tom King of Bill King Appraisal Service. See you back in just a moment.


2nd segment after 9:15 break: Our Look Back Memphis Trivia Contest is brought to you by notable Memphis historian, Jimmy Ogle. Twelve of his Memphis History lectures entitled Making Memphis – Storytelling by Jimmy Ogle may be viewed by Googling “JIMMY OGLE PINK PALACE”. View at . The Look Back Memphis Trivia Contest is sponsored by Mike Aukerman of National Property Inspections. Before you buy, call Mike Aukerman of NPI National Property Inspections 901 674-6868. Mike is giving away a $50 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 # 195 * 05/15/21

Harahan Bridge

Question: With attention being brought this week to the bridge crossings in Memphis, I was the first bridge to support automobile traffic across the Mississippi River in Memphis. Who am I?

Hint: My two railroad tracks open in 1916, and my cantilevered automobile trusses opened in 1917.

Hint: In 1927, I was the bridge for US 70 (The Broadway of America) the route across America that connected San Diego to New York City for automobiles for the first time in our nation’s history.

Hint: I was named for an Illinois Central railroad executive who conceived the plan for my construction, but was unfortunately killed in a railroad accident before the bridge was completed.

Final Hint: My automobile lanes have since been replaced by two other bridges built in the last century, and my northern side is the home to Big River Crossway, a unique bicycle and pedestrian pathway.

Answer: The Harahan Bridge is a cantilevered through truss bridge that carries two rail lines and a pedestrian bridge across the Mississippi River between West Memphis, Arkansas and Memphis, Tennessee. The bridge is owned and operated by Union Pacific Railroad and is the second longest pedestrian/bicycle bridge in the United States (after the Walkway Over the Hudson in Poughkeepsie, N.Y.). It was built with roadways cantilevered off the sides of the main structure for vehicles. These roadways are owned by the cities of Memphis, Tennessee and Crittenden County, Arkansas, and were used from 1917–1949, until the Memphis & Arkansas Bridge opened 400 feet (120 m) south of the Harahan. The bridge was named in honor of railroad executive James Theodore Harahan, former president of the Illinois Central Railroad, who was killed in a railroad accident during the construction of the bridge.

In February 2011, Union Pacific Railroad officials agreed to the idea of converting the 1917 roadways into a bicycle-pedestrian walkway across the river. In June 2012, Memphis was awarded a $14.9 million federal grant to build the walkway. The overall project was expected to cost $30 million, of which about $11 million was used for the Harahan Bridge portion. Construction was completed in 2016.


  1. What has been happening with our home values over the last few months in the Mid-South?
  2. Where do you predict home values will go?

  3. Where do you see advantages for homebuyers to “catch the March wind” when buying their home?

  4. For people who want to stay in their home and make improvements for their changing lifestyle needs, what type improvements bring more value to a home?

  5. What type improvements add the LEAST value to the home?

  6. Other advice…

3rd SEGMENT 9:35 AM-9:45AM)


To our listeners, please have a seat right here, so you can have a front row seat to witness the decisions some of my hall-of-fame clients made to stay financially discipled so they could reach higher a little bit at a time.


  1. Joanie Jerritson- Cash-Out Refinance to Fixed Rate to Stop Rising Credit Line Payments

Joanie Jerritson was happily retired. Before her husband passed away several years ago, they had paid off their home. Some unexpected setbacks occurred and they needed a quick solution. At the time interest rates on home equity lines and credit cards were low, so the Jerritson’s took out a fairly large equity credit line and other credit.

Ms Jerritson’s husband passed away. She could still afford the payments on credit lines and on the equity line she even paid several hundred extra dollars per month so she could try to have it paid off in another 5 years when the interest-only term would expire.

Without warning the Federal Reserve started hiking their rates time after time and again last year and into the current year. Each time, the bank notified Ms. Jerritson that the interest and payments were increasing.

When she called me she said, “I need to cap this credit line payment with a fixed rate loan. My fixed income is just not enough to keep up with the hikes in interest costs.”

I sent her the estimate for the refinance, rolling the closing costs into the loan. She was saving her almost 15% of her income and she would not have to bring any money to closing. This was a big win for Ms. Jerritson. She could finally lay down and get a good night’s sleep.

How much interest are you paying for your credit card debt? Credit card interest rates have been going higher. Some people are now paying 18% to 22% compounded interest. Call your credit card companies and ask them how much you pay in interest. Are your credit card balances getting larger instead of smaller. If your situation is now where you can stop using the credit cards, then let’s look at a cashout refinance on your home with a fixed rate mortgage. We can look at rolling into the one fixed-rate cash-out refinance mortgage those high interest rates credit cards.

  1. Derrylyn Dancy—Help! The higher mortgage rate is a bit daunting


Derrylynn was a young woman on a mission to win in life. One way she knew would get her on track is to stop wasting money renting and put her monthly shelter costs toward owning her own home.

Last year the challenge was finding a house that she really liked. After making offers on houses over a several months, somebody else always offered more money and did not need any help on costs from the seller. She lost out to competitors every time.

This year mortgage rates had gone up a few points higher than last year. In the mid two-hundred thousand price range the payment was over $400 per month higher than it would have been last year. But, she had a better chance of the seller accepting her offer this year

In the professional job where she worked, her income was going up every year. If she could just get the payment down the first couple of years she could enjoy owning the house a lot more.

The answer for Derrylynn? The 2/1 Buydown mortgage. She could enjoy a low payment with a mortgage rate in the low 5’s the first year. The second year the payment would inch up a little higher with a rate in the low 6’s and the third year and thereafter the rate would be in the low 7;s.

Derrylynn consulted with her financial advisors who pointed out that her income was going up regularly to compensate for the payment increase. Based on the current market trends it looked probable that, if she needed to sell the home later, she could sell the home profitably, or use the home for a rental property. Her mortgage was an assumable government product, so there was another possible exit strategy for the future too. In other words, Derrylynn multiple exit strategy possibilities for the future. She also planned to refinance to a much lower fixed-rate mortgage if mortgage rates every dropped back down low enough.

Derrylynn’s realtor negotiated for the seller to pay for the 2-1 Buydown. On a home priced in the mid $200 thousand range, the 2-1 Buydown costs approximately $6,000

Derrylynn saved about a few hundred dollars per month on her payment the first year. She saved a little less the 2nd year. The third year the rate would become fixed.

By starting our with a mortgage rate 2 points lower than the market rate, the home was more than affordable to Derrylynn.

The last strategy was a plan to refinance Derrylynn’s loan when and if the fixed mortgage rates drop back lower one day.

  1. Use a cash-out refinance to upgrade and modify the home. The Franklin’s decided it would save a lot of money to bring her mother home to live with them. The cash out to a low fixed-rate mortgage gave them the funds they needed to modify the home so her mother and the Franklins could live together but enjoy the privacy of their own space.

4th segment following 9:45 am break about 9:48 to 9:56 am

REAL ESTATE TIP OF THE WEEK – TOM KING has about a minute to share a real estate tip.

Jo Garner’s mortgage tip: If you want to buy a home but you have been waiting for mortgage rates to come down, here is something to consider. When rates go down, we predict that LOTS of people like you will start competing with each other to buy houses, driving the price of homes up. Are you really going to win buy waiting?

Currently, some sellers are willing to pay some closing costs for buyers. Lenders are offering special down payment grants and programs for people meeting the guidelines.

With less competition, you have a better chance of finding the home you really want. You have a better chance of getting help with your closing or a buydown on your interest rate for a lower payment.

Once you close and buy your home, we can watch to see if rates drop enough over the next year or so to make it worth refinancing to lower your interest and your payment.

Let’s explore the best mortgage program that will give you some bragging rights. I can make the mortgage process easy. It is easy to get started. Connect with me at (901) 482-0354


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 Concorde Career College 5100 Poplar Ave 1st floor Memphis, TN (Clark Tower).

Go to and click the Events tab for the link to get into the event online. This Wednesday March 6th, 2024 9AM CT “The Truth About Getting More Speaking Gigs Now”

Speaker: Leisa Reid, CEO, International Speaker Network

Talk Shoppe events are free thanks to sponsors like Donna Roach of Hearthside Senior Living. Go see Donna at Hearthside Senior Living in Bartlett. She can help you when you are trying to decide the best place for you loved ones to live who need assisted living. Call Donna Roach at 901-651-2503

3. Thank you to Tim Flesner, part owner of Mid-South Home Helpers-Home Care with a heart for non-medical care to help your loved ones remain safely and comfortably in their own home. Call Tim Flesner at Home Helpers 901 414-9696.

4. Subscribe at and you can get our weekly blog posts with podcasts conveniently in your inbox.



QUOTE CORNER: Winston Churchill- “ Kites rise highest against the wind, not with it”

Lauren Bacall “Imagination is the highest kite one can fly”



  1. Rob Draughon and Shelley Rothman, real estate attorneys with Griffin Clift Everton and Maschmeyer 901 752-1133

  2. Pat Goldstein, Realtor with Crye-Leike in West TN and North Mississippi 901 606-2000

  3. Reverend Jo Rook Huggins, Real Estate Investor and Director of Healing and Wellness at Church of the Harvest in Olive Branch, MS

Transition Music: “Blowing in the Wind” by Stevie Wonder; “The Wind” by Cat Stevens; “Follow the Wind” the Bee Gees; “Memphis” by Johnny Rivers for the Look Back Memphis Trivia Contest


An essential guide for real estate professionals and their customers.

Now on Amazon and Barnes and Noble

_________________________________ ABOUT TOM KING, BILL KING APPRAISAL COMPANY

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



WHAT DO YOU WANT TO ACCOMPLISH WITH YOUR MORTGAGE? (901) 482 0354 twitter @jogarner NMLS# 757308

(currently working with Cardinal Financial Company, Limited Partnership NMLS #66247 equal housing opportunity 2645 Appling Rd 102 Memphis, TN 38133 ) Online loan application for licensing info “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 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 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. 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 Pick up Jo Garner’s book on Amazon or Barnes and Noble “Choosing the Best Mortgage-The Quickest Way to the Life You Want”