“Finding Value In Your Real Estate & In Your Community” 3/1/2014
Questions answered by Beth Glosson:
1. In your opinion, what are the reasons why Memphis is listed as a top real estate market in the nation for 2014?
2. In your opinion, what are some of the best ways for a homeowner to add value to their home?
Questions answered by Frances Anderson: (feel free to share a short real-live story)
1. In your opinion, what are the reasons why Memphis is listed as a top real estate market in the nation for 2014?
2. In your opinion, what are some of the best ways for a homeowner to add value to their home?
3. Frances shares a story about a single mother with a handicapped child who needed lots of help to meet her dream of homeownership and succeeded in reaching her goal.
Questions answered by Lewis Marshall: (feel free to share a short real-live story)
1. In your opinion, what are the reasons why Memphis is listed as a top real estate market in the nation for 2014?
2. In your opinion, what are some of the best ways for a homeowner to add value to their home?
Questions answered by Jo Garner :
- 1. From the financing side, where do YOU see ways homeowners can add value to their homes?
2. Why do you believe Memphis is a smart place to own real estate?
REAL ESTATE TIP OF THE WEEK
Good morning to you Memphis and neighbors and a word of encouragement to our friends on IHEART radio around the country—spring is on the way! You’re on the Real Estate Mortgage Shoppe program and I’m your host, Jo Garner, mortgage professional with Evolve Bank and Trust.
Our general topic today is “Finding Value In Your Real Estate & In Your Community.” But if you have a real estate related question or dilemma, call us on the air at 901 535 WREC. That number again to be on the air is (901) 535 WREC. We have some very accomplished realtors around the coffee table today from the Women’s Council of Realtors and we are ready to talk with you about YOUR real estate.
Frances Anderson, affiliate with Crye Leike Realtors with MANY designations and awards is the 2014 president of the Women’s Council of Realtors. Frances, it is great having you in the studio with us. Tell us a little bit about yourself and what you do as a realtor and what you do with the Women’s Council of Realtors.
(Jo) We also have Beth Glosson, Broker/Owner of Fast Track Realty and number one listing broker for Memphis Area Association of Realtors in 2013. Beth, tell us a little about yourself and what you do as a realtor and what you do for Women’s Council of Realtors.
(Jo ) Beth, before we introduce our next guest, I saw where you were stranded a few weeks ago during the ice storm down in Alabama in that massive traffic jam. Speaking of the importance of community—tell us a little about what happened to you down there.
(Jo) Lewis Marshall is a realtor with Crye-Leike and also very instrumental in making the Women’s Council of Realtors a success. Lewis, tell us a little about yourself and what you do.
- (Jo starts giving financial news)The value in real estate financing this week has been with the low mortgage rates. The conventional 30 year loan ended the day yesterday at about 30YR FIXED – 4.375%
- FHA/VA – 3.75% 15 YEAR FIXED – 3.375% 5 YEAR ARMS – 3.0-3.50% depending on lender
These rates are still fantastic for so many people needing to refinance or wanting to BUY a home. But word on the street is when the warmer weather moves in, rates will probably go up so NOW is the time to buy your home or refinance one. My very experienced assistant, Susan Belew and I will happy to help you get some bragging rights on your financing.
Susan and I see three main barriers to home ownership: The first one is that people feel their credit is not up to par but they are willing to whatever it takes to fix it. Susan and I are trained on the Credit Simultator tools –kind of like flight simulator tools and we may be able to get your credit scores up 30 or 40 points in 45 to 60 days or less. The second barrier to homeownership is having too much debt and not enough income. If you are self-employed and you have GOOD credit but your bank has said you don’t have enough income, please send me ALL pages of your last 2 years tax return. Susan and I know how to find income in the BACK pages of those returns. We’ve gotten a number of people like this approved and closed. Lastly the third most common barrier is the condition of the property. If it is a fixer upper property with quite a bit of needed repairs that the seller is not willing or able to do before closing, you may need a renovation and repair loan and I have two renovation and repair loans— with very little money needed down. If Susan Belew or I can help you or someone you know, please call me right now at (901) 535 WREC (9732) or directly off the air at 901 482-0354. That number again is 901 482-0354 or catch me on my blog www.mortgageloansblog.com
Before we dive into getting value for our real estate I just have to ask you, Beth, Frances and Lewis, what got you into the real estate business and what keeps you there now?
(Jo) One thing we all have in common around this community table today is that we all love the business of real estate, we love Memphis and we love what is happening at our Memphis Women’s Council of Realtors. What motivates you to stay involved with the Women’s Council of Realtors?
(If we have time Jo may briefly mention why she loves the real estate financing business and why she likes to stay connected to people who are always striving for excellence and always striving to make the world a better place for everyone around them)
We go to break at 9:15AM and come back in with the Look Back Memphis Trivia Contest
2nd segment of the show begins after 1st commercial break:
It’s time to play our Look Back Memphis Trivia contest brought to you by notable historian, Jimmy Ogle. Jimmy gives free walking tours in Downtown Memphis during the Spring and Autumn.
Go to jimmyogle.com for the 2014 Spring season schedule and locations:
. Today’s contest is sponsored by David Grigsby, owner of Mid-South Orthopaedic Rehab and I can personally attest that he is a terrific physical therapist and can often correct problems and help people avoid expensive medications, injections and even avoid surgery. You can reach David by calling Ph: 901.522.MOR1 (6671) twitter: @midsouthortho1 For the first caller with the correct answer to our trivia question, David is giving away a $25 gift certificate to September Nail Salon located in Germantown in the Saddle Creek shopping where you can enjoy a spa-like atmosphere with exceptional client care.
Our Trivia Question: Shortly after Memphis first big annexation leap eastward in 1899 to what eventually became Overton Park (in 1901), tiny towns (like Idlewild, Lenox, Binghampton) started appearing on the eastern outskirts of the city limits. A famous Memphis entrepreneur purchased 112 acres slightly further east and began building his estate in 1922. What is the name of this residential development that still is one of the most sought after addresses for fine living in Memphis?
Hint: The name of the neighborhood/subdivision derives from some of the first residents/inhabitants of this area that eventually became known as “Memphis”.
Hint: Oddly, in the 20th century, the first large home built here was never used as a residence!
Hint: The builder of that home created an industry that eventually affected the lives of all Americans!
Last Hint: Think of a color and a royal residence!
If you know the answer call us right now at 901 535-9732.
Answer: “Chickasaw Gardens” The Chickasaw tribe were some of the early Native-American settlers in this area. In 1922, Clarence Saunders began construction of a 36,000sf palatial mansion that he named Cla-Le-Clare(for his three children – Clarence, Lee & Clare) when he was at his peak in the self-service grocery store industry – Piggly Wiggly. Although Saunders changed the way America shopped for groceries, he could not whip the New York Stock Exchange in 1923 and lost his fortune, thus have to give up his dream estate, which also included the lake and lands being developed for a golf course. Garner # 5 02/26/14
Chickasaw Gardens
Back Story: The City of Memphis bought the incomplete pink marble mansion and spent $150,000 for its completion. Iin 1930, the City opened the Memphis Museum of Natural History & Industrial Art here. But, the citizens soon began referring to the structure at the Pink Palace, and the name officially changed to the Pink Palace Museum in 1967! As for the neighborhood – in 1926, Garden Development Corporation of Louisville, KY subdivided the 112 acres into 463 lots being the “Most Exclusive in the City”. Applicants would be screened for “high social standing in the community”. In 1926, the Lake was dedicated to the City for $1 for public use, but not as a swimming pool. By 1927, the area was 80% complete. In 1982, 58 condominiums were added along the Poplar corridor. To this day, some of the street names are for Native-American tribes, such as Irriquois, Tishomingo, Sioux, Cherokee, and Arawata.
Jimmy Ogle gives free walking tours in Downtown Memphis during the Spring and Autumn.
Go to jimmyogle.com for the 2014 Spring season schedule and locations:
Shelby County Courthouse: Third Thursday each month at 12:00 noon
Memphis & Arkansas Bridge Walk: Sundays (March 30, April 13, May 18) at 2:00 p.m. at Crump Park
TUESDAY TOURS: Tuesdays from April 1 to June 10 at 11:45 a.m. for about four blocks from a different
street corner each week
2nd and 3rd segments of the show we go back and forth with answering questions and answering callers.
Questions answered by Beth Glosson:
1. In your opinion, what are the reasons why Memphis is listed as a top real estate market in the nation for 2014?
2. In your opinion, what are some of the best ways for a homeowner to add value to their home?
Questions answered by Frances Anderson: (feel free to share a short real-live story)
1. In your opinion, what are the reasons why Memphis is listed as a top real estate market in the nation for 2014?
2. In your opinion, what are some of the best ways for a homeowner to add value to their home?
Questions answered by Lewis Marshall: (feel free to share a short real-live story)
1. In your opinion, what are the reasons why Memphis is listed as a top real estate market in the nation for 2014?
(Lewis’ questions continued)
2. In your opinion, what are some of the best ways for a homeowner to add value to their home?
Questions answered by Jo Garner :
- 2. From the financing side, where do YOU see ways homeowners can add value to their homes?
Jo’s answers: A. Make sure the financing is structured on the front end to meet with your current plans but also make sure your mortgage terms will work for you 5 or 10 years from now when you decide to retire, or get married or start putting children through college. It’s important to have a mortgage payment that leaves room for you do the home repairs when needed and to enjoy life on a more flexible budget. This adds value to a lot more than just the real estate.
B. If you are thinking about Buying a house or refinancing one—fixer uppers can really build some value for you quickly. If you can buy a house at a bargain price and fix it up, there are lots of scenarios out there that could make the house worth thousands of dollars more than what you put in it. I have 2 renovation and repair loans that can help you buy or refinance a home, fix it up and for very little money down. One of my R&R loans can even be used by real estate investors. Call me at (901) 482 0354 or catch me on my blog www.mortgageloansblog.com
2. Why do you believe Memphis is a smart place to own real estate?
A. Affordable cost of living and at the same time a good quality living standard. You can get a lot of house without spending a fortune. We have down payment assistance programs for people who need help with the down payment in many cases. We have the 100% VA loan and USDA loans and more.
B. Rents are affordable but because of the low mortgage rates and reasonable home prices, investors can get a positive cash flow purchasing rental property here more so than in other cities.
4th segment of show is very short:
REAL ESTATE TIP OF THE WEEK-about 1 to 1.5 minutes: (Realtors from WCR can offer a practical real estate related tip that can save someone time and money etc–)
Jo Garner has two announcements:
- 1. Talk Shoppe offers free education and networking for anyone interested in real estate or in general business. This Wednesday Attorney Wis Laughlin will be talking about “Business Tax Wizardry—Make Taxes Disappear.” Wednesday March 5, 2014 9A to 10A at DeVry University 6401 Poplar Ave 6th floor For more information about Talk Shoppe go to www.TalkShoppe.BIZ
- 2. Next Saturday on the Real Estate Mortgage Shoppe program Tom King, certified real estate tax appeal expert with King and Vaughan Consulting will be talking about values on Memphis real estate and lowering your taxes. For today’s podcast and others go to www.mortgageloansblog.com
Transitional Songs: “Song of the South” by Alabama; “The House That Built Me” by Miranda Lambert; “Nutbush City Limits” by Tina Turner; Trivia contest theme from “Memphis” by Johnny Rivers
Press Release: “Finding Value In Your Real Estate & In Your Community” on News Radio AM 600 WREC Saturday 3/1/2014 9A-10A CST Jo Garner, mortgage professional with Evolve Bank and Trust with Beth Glosson, Realtor Fast Track, Frances Anderson, affiliate broker with Crye-Leike Realtors and Lewis Marshall, realtor with Crye-Leike Realtors. Also featuring Women’ Council of Realtors and the Look Back Memphis Trivia Contest sponsored by Mid-South Orthopaedic. Join us by calling (901) 535-WREC or connect with us on IHEART radio http://www.600wrec.com/pages/jogarner.html
BIO: Frances Anderson, Crye Leike Realtors cell number 901 857-2276
2014 President of Women’s Council of Realtors
MAAR Associate Director 2009-2011
Multi-Million Dollar Club and recipient of the Prestigious Circle of Excellence Award and many other designations
ABR, CRS, ePRO, GRI, NAREB, SRES, WCR, WHM, Vice-President
MAAR Realtor Associate of the Year 2008
Life Member of MAAR Multi Million Dollar Club & Crye-Leike Multi-Million Dollar Club
Served as a 2-Year Director for the MMDC Board of Governors & a Director MMDC
Previous Vice Chair for RPAC, RPAC Chairman 2012
CRS Local Chapter Memphis
NAREB Member
Past TAR Director
Welcome Home Memphis
Realtor Advisory Board for THDA
Public Relations Community Involvement 2001
MAAR Ambassador 2003-2006
Vice Chair for RPAC 2003-Chairman RPAC 2012 RPAC Trustee 2010-2013
MMDC Board of Governors Recording Secretary 2006-2007, MMDC Director 2010-2011
Equal Opportunity Committee 2008-2009
I am an annual contributor to Habitat for Humanity and Youth Villages and The Memphis Food Bank
WCR Secretary 2011, WCR VP of Membership WCR 2012, Ways and Means Chairman Local 2010 State Ways & Means Committee Chair 2010, WCR Sponsorship Chair Fall Fundraising
One of the first of eight recipients to receive the MAAR Welcome Home Memphis Certification
Completed TAR Leadership Academy in August 2010, TN’9er 3 years
Hobbies include traveling, reading time with family, and getting the job done right the 1st time.
BIO: Beth Glosson, Broker/Owner of Fast Track Realty
Started in Real Estate in 2002 and obtained Broker’s license in 2009
Opened Fast Track Realty in 2009 with husband Greg, also a real estate broker
Specializes in the listing and sale of REO and HUD-Owned properties
Local listing broker for both HUD and Fannie Mae
Lifetime member of the Multi-Million Dollar Club
2013 Entrepreneur of the Year for the Memphis Chapter of the Women’s Council of Realtors
2014 President-Elect of the Memphis Chapter of the Women’s Council of Realtors
#1 Listing Broker in the MAAR MLS based on the number of listings in 2013
Married for 22 years to husband Greg who is the 2014 President of the Memphis Area Association of Realtors
Two college aged children- Kristin and Ryan
Lifelong Memphian
Beth Glosson, Broker/Owner
2014 President-Elect, Women’s Council of Realtors
2013 Entrepreneur of the Year, Women’s Council of Realtors
Lifetime Member, Multi-Million Dollar Club
Fast Track Realty
1045 South Yates | Memphis, TN 38119
Office 901.767.8770 | Fax 901.767.8769
Lewis Marshall, Realtor Crye-Leike Realtors in Memphis, TN (901) 756-8900
2014 VIP of Membership of Women’s Council of Realtors
Buyer’s agent for the Melissa Thompson Team
Administrative Assistant for the Ward Team
2012 Memphis Area Association of Realtors Realtor Associate of the Year
2012 Women’s Council of Realtor’s Realtor of the Year
Started Real Estate in 2005
2006 Remax Rookie of the Year
2014 Chair of Member Services for Memphis Area Association of Realtors
Trustee of The Education Foundation for Memphis Area Association of Realtors
Bio for Jo Garner, Mortgage Professional with Evolve Bank and Trust
Jo Garner’s Bio
www.MortgageLoansBlog.com www.MoneyShoppe.NET (901) 482 0354 jogarner@mindspring.com
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 is currently the host of the Real Estate Mortgage Shoppe program 9A-10A CDT Saturdays on News Radio AM 600 WREC and IHEART Radio http://www.iheart.com/#/live/2145/?autoplay=true and currently publishes on her blog www.MortgageLoansBlog.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.