Like a good flight plan, we will be helping you plot your mortgage course to your desired destination with the least amount of turbulence and at an affordable cost. Tom King and I will be helping you decipher what’s on the radar for mortgage rates and the housing market.
Let’s take a look at some little-known programs that can help you get to your homebuying or refinancing destination with bragging rights.
#JoGarner #MortgageExpert Licensed Mortgage Officer NMLS# 757308
(901) 482-0354 JoGarner.com
#TomKing, Bill King Appraisal Company #MemphisAppraiser (901) 487-6989
Special appearance: #PeggyLau retired US Navy Line Commander and representative with Club Seacret (bargain travel plans) (901) 289-0747
Subscribe for weekly Real Estate Mortgage Shoppe podcasts with show notes www.JoGarner.com
#memphisrealestatemarket #memphismortgage #memphisappraisal #midsouthmortgage #midsouthrealestate #mortgagerates #homebuyer
#homeseller #whereareratesheading
ALL ABOARD…(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: DON’T BE LATE TO THE GATE FOR YOUR HOMEOWNERSHIP DREAM-BE PREPARED, BE PREAPPROVED.
Thank you to real estate attorneys, Rob Draughon and Shelley Rothman of Griffin, Clift, Everton and Maschmeyer for sponsoring the episode. Today is March 22ND, 2025 Call in to the live show at 901 535-9732
Introducing Tom King of Bill King Appraisal Service
(Jo) Our expert real estate appraiser is back in the studio with some timely advice. Tom, you are out appraising homes everyday in Shelby, Tipton and Fayette Counties here in West Tennessee. You see trends with home values and the ebb and flow of the market in the MidSouth. Take a moment and introduce yourself to some of our new listeners and talk about the services you offer your clients.
(Tom has about 1.5 minutes to intro himself and talk about the services you offer your customers)
Flight Plan For Your Homebuying Journey
(Jo) Today, just like a good flight plan, we will be helping you plot your mortgage course to your desired destination with the least amount of turbulence and at an affordable cost. Tom King and I will be helping you decipher what’s on the radar for mortgage rates and the housing market. Remember, mortgage rates are NOT tied to the Federal Reserve Rate and are affected by inflation, supply and demand, other economic reports. Stay with us throughout the show.
If you want to buy a house but you are sitting around waiting on the mortgage rates to drop or home prices or both-experts are predicting you may be waiting for a very long time.
This is March 2025 and we are seeing mortgage rates between a 2 to three month low. While these lower rates are encouraging, it’s important to keep expectations realistic. While Zillow shows that today’s mortgage rates are at their lowest, experts don’t foresee a drastic drop for the remainder of 2025.According to economists, significant decreases are not expected. One of the top banks came out and predicted rates would actually move up into the low 7’s in 2025. Freddie Mac anticipates that the average 30-year fixed mortgage rate will stabilize around 6.50% by the end of 2025.Zillow and Corelogic have also weighed in and no one knows the future.
Consult with your financial advisor. If you can afford a home, why not buy it? It may be a starter home that you can sell later at a profit and move up later. Perhaps it is not your dream home, but it has the basic structure that you can improve over time to be your dream home. If and when mortgage rates drop lower, you can look at refinancing to a lower rate and payment.
Do you want to move somewhere else, but feel like you can’t because you are sitting on a low mortgage rate? Do you want to move but you don’t want to sell your old house right away? There are some little-known tools you can use to help you enjoy a low mortgage payment in your next home, even though you can’t sell your old home right way. Connect with me today and let’s explore your financing options (901) 482-0354 JoGarner.com
But here are some steps to take to prepare:
Know your personal comfort level on the maximum house payment you can afford.
Many of the financial authors suggest keeping the total monthly house note (principal, interest, taxes and insurance, mortgage insurance, association fees, if any) under 25% to 28% of gross monthly income. Some of these pros recommend keeping your total monthly obligations like car loans, monthly credit card payments, student loan payments, and other debts, including your house note under 38% to 41% of your gross income. However, mortgage underwriting software often approves borrowers with debt ratios at 50% of their gross income or more.
But, what are YOU comfortable paying on a house note each month? How much are YOU comfortable paying down at closing?
Let’s explore your mortgage options today. Call or text me at 901 482-0354. I can assist you in making sure you are getting the right mortgage and we make the mortgage process EASY.
(Jo) Tom King of Bill King Appraisal Service, can you describe what you are seeing in our real estate market today when it comes to values? Where do you predict home prices will be throughout 2025? (Tom can launch into his topics until the 9:15 am break to be continued after break)
Tom describes the Midsouth real estate market as comfortably stable. There is plenty of home buyers, but not so many that it makes for too much competition. There is a healthy balance between buyers and sellers. Sellers are often willing to pay the buyer’s closing costs. Buyers are not forced to offer a higher price than the list price to buy a home.
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 appraisal expert, Tom King of Bill King Appraisal Company and retired US Navy Line Commander, Peggy Lau of Club Seacret will be joining us after this break. We will see you back in just a moment.
2nd segment 9:18 am – 9:30 am
TALK SHOPPE BUSINESS TIP FOR REAL ESTATE PROS
It’s time to talk shop with Talk Shoppe’s Business Tip For Real Estate Professionals. Talk Shoppe is a marketing company offering free education and networking to anyone interested in real estate or in business or health and wellness. Talk Shoppe is made possible by the financial support of its sponsors. For more about Talk Shoppe, go to www.TalkShoppe.com (shoppe) For our Talk Shoppe Business Tip today we have Talk Shoppe sponsor retired US Navy Line Commander, Peggy Lau. Peggy you are part of a travel organization where you show provide people with a plan that can give them first class vacations at bargain prices. I have personally experienced an 8-day cruise on one of your plans. We made some FABULOUS memories . Take a moment and share with us some of your wisdom as our Talk Shoppe tip. Peggy Lau has about a minute to share her tip.
Tip: I encourage you to follow the three R’s I learned in the U.S. Navy- Reputation, Responsibility and Relationships
The estimate in which a person or thing is held, especially by the public. Commonly held opinion of person’s character. “Atta-boys vs Ah-(poop)”choices or decisions.
What you do in private when nobody is looking.
Safeguard relationships, connection, association or involvement.
Peggy Lau of Club Seacret, how do we contact you? 901 289-0747
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TOPICS COVERED BY TOM KING OF BILL KING APPRAISAL COMPANY
Describe the MidSouth housing market in 2025
Where do you see the market going by the end of the year?
If you were talking to someone who could afford to buy a home today, but is waiting for a better market. What would you say to them and why?
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3rd SEGMENT 9:35 AM-9:45AM)
TOPICS COVERED BY JO GARNER, LICENSED MORTGAGE OFFICER
Are you thinking about getting a mortgage to buy a house or refinance a home you already own? Call or text me TODAY at 901 482-0354. (901) 482-0354. I can assist
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Be prepared. (we talked about this in the first part of the show)
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Be Preapproved. When you make an offer to buy a home, chances are good that you will be competing with other people who are making an offer on the same house. If you are working with me, I can show you some ways to strengthen your prequalification information. Sometimes the seller is not looking for the highest price offer, but looking for the strongest buyer who will confidently close on time. Let’s talk if you are looking for a lender who can help you with this strategy. Call your loan officer BEFORE you start looking at houses. You may need to make some tweaks to your debt or your credit to put yourself in position to get the best terms on your mortgage.
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Put the best professionals on your team
The is an old Zen proverb and it goes like this: “It takes a wise man to learn from his mistakes, but an even wiser man to learn from the mistakes of others.” By putting a knowledgeable realtor and lender on your team, a good home inspector and closing attorney other pros, you are getting the benefit and protection of their knowledge of what to do and what not to do. Make sure they are reputable. I would love to sign up to be your lender for life when you are ready for a mortgage.
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Position yourself with positive exit strategies for one day when you move or sell your home-
Maxim and Mindy Morriss-We Want to Move, But Can’t Sell Our House Yet, Or Can We?
Maxim was less than a year away from retirement. He and is wife Mindy wanted to live outside the city closer to their kids and grandkids. The problem? The Morriss’ needed to move out of their home before doing some renovations to get the highest and best price selling it.
They did not want to buy another home without being able to put over $100,000 down to keep their note low. Maxim told me, “ I can easily afford a higher payment now because I make good money on my job. But, when I retire, I don’t want to be stuck with a high mortgage payment.
I asked Maxim if I could provide him with a tool that would allow him to go ahead and buy the house close to his family in the country, not have to sell his current home right away and still have a low payment when he retires, would he make the move? Mindy and Maxim wanted to make sure they would not have to foot any expensive cost to refinance. “No refinance necessary,” I said. When you borrower with the smaller down payment, you will have a larger mortgage balance AND a higher not at first, but you can afford it now because you are working.
Go ahead and move and fix up the old house. In a few months, sell the old house and pay the over $100,000 profit to pay down the mortgage on the new home. You can use a little-known tool to lower your payment on the new mortgage without having to refinance.
Do YOU need a tool like this? Call or text me today at 901 482-0354 or go to JOGARNER.com There is a quick and easy link to complete your loan application or we can complete it over the phone.
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REAL ESTATE TIP OF THE WEEK
TOM KING’S Real Estate Tip of the Week (about 1.5 minutes)
When you are estimating heated square feet of a home, you can’t count a knee-wall area with less than 7ft from floor to ceiling and less than 5 ft on the slope.
Peggy Lau’s Tip (about 1 minute) responsibility and reputation are important for your business continuity.
Peggy is with Viago, a travel program that allows you to take fabulous vacations without breaking your budget
Jo Garner’s tip : You don’t know what you don’t know until you ask.
A client recently was so happy when he found out that he was getting a fixed rate in the 5’s. Current mortgage rates are in the mid to high 6’s and this client is using a special mortgage product for heroes like veterans and first responders to enjoy a much lower mortgage rate and payment.
Contact me and let’s explore YOUR financing options for lower-than-market rates, down payment assistance and grants.
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 1st floor Memphis, TN
(Thank you Manny Corless and Ben Hunter (615-601-0568) outstanding Financial Professionals at Independent Planning Group for being Talk Shoppe’s location sponsor)
Join in person or online by clicking www.TalkShoppe.com and click the Events tab for the link to get into the event online.
Talk Shoppe on Wednesday March 26th, 2025 “Hot Seat Lead Generator” you get 45 seconds to tell the audience who you are, what you do and describe the type customer or connection that you would like for them to send to you. The audience responds with referrals or connection opportunities.
Talk Shoppe could not offer the free educational networking events free to our community without some very giving sponsors. Thank you to Genell Holloway of Eagle Hollow Enterprises. Genell has helped so many people get the right health benefits and medicare plans. She can help you too. Contact Genell Holloway of Eagle Hollow Enterprises today at 901 653-5323.
Thank you to Chuck Bohannon, booking agent for Santa Claus in the Mid-South. Want to make your Christmas in July party positively memorable. Invite this jolly old Santa Claus in his modified Santa summer attire to YOUR party. Contact Santa’s booking agent, Chuck Bohannon at 901 619-6436.
6. Subscribe today for weekly podcasts with show notes at www.JoGarner.com
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 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:
Henry Youngman “Getting on a plane, I told the ticket lady, “Send one of my bags to New York, one to Los Angeles and the other one to Miami. “
She said, “We can’t do that!”
I told her, “You did it last week.”
REJOINDERS:
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Jo Rook Huggins, Director of Church of the Harvest Healing and Wellness Ministry in Olive Branch, MS.
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Real Estate Closing Attorneys Rob Draughon and Shelley Rothman of Griffin, Clift, Everton and Maschmeyer. (901) 752-1133
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Saul Klein, San Diego, CA Real Estate Technology Visionary and Pioneer for Realtor.com
Transition Music “Jet Airliner” by Steve Miller; “Fly Away” by Lenny Kravitz; “Right Now” by Van Halen; “Taking Care of Business” for the Talk Shoppe Business Tip
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 TOM KING, APPRAISER WITH BILL KING 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
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.
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 Pick up Jo Garner’s book on Amazon or Barnes Noble “Choosing the Best Mortgage-The Quickest Way to the Life You Want”