When it comes to real estate and financing and choosing health benefits, each generation is choosing somewhat different directions to take in the changing economy. I will share with you some stories of how the field is changing for Millennial first-time homebuyers and for the older generation downsizing or making other strategic moves for the future. Bobby Jones with Delta Medicare Benefits Group is here to talk to the older group about how to make sure you are making the best decision during this upcoming open enrollment for your medicare plan.
What do YOU want to accomplish with YOUR mortgage? For a home purchase or refinance. Make your plan. Work your plan. If the deal works for you today, let’s do it today. Subscribe to get weekly Real Estate Mortgage Shoppe podcasts with show notes www. JoGarner.com
To Your Success!
Jo Garner, Licensed Mortgage Loan Originator NMLS #757308 (901) 482-0354 Jo@JoGarner.com www.JoGarner.com
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 Officer. You can connect with me at www.JoGarner.com. Our general topic is GENERATIONAL TRENDS FOR BUYING & FINANCING REAL ESTATE & HEALTH BENEFITS 2022. Thank you to today’s sponsors, real estate attorneys Rob Draughon and Shelly Rothman of Griffin Clift Everton and Maschmeyer. For YOUR home purchase or refinance closing, contact Rob Draughon and Shelley Rothman at 901 752-1133. Subscribe to get Real Estate Mortgage Shoppe weekly blogposts with podcasts at JoGarner.com Call us while we are live today October 1st, 2022 at 901 535 9732.
INTRODUCING BOBBY JONES OF DELTA MEDICARE BENEFITS GROUP
For the first time in our Real Estate Mortgage Shoppe studio we have Bobby Jones of Delta Medicare Benefits Group. Bobby, lots of our listeners know you from seeing you on television this year. Your company is a Better Business Bureau A+ rated company. Delta Medicare Benefits Group specializes in researching and comparing Medicare plans to ensure your clients have options tailored to their individual needs and unique circumstances.
Your number one goal is a satisfied clientele, where each customer receives the highest level of benefits at the lowest possible price. Take a minute or so and tell our listeners a little about you and what Delta Medicare Benefits Group does for your clients. (Bobby Jones takes about a minute or so to intro himself and talk about the benefits Delta Medicare Benefits Group offer their clients )
(Jo) INTERESTING FINDINGS FROM THE NATIONAL ASSOCIATION OF REALTORS 2022
Stay tuned to hear some stories and examples of how my mortgage customers have forged a new and better path to the life they want in this rapidly changing market.
Let’s look at the direction other people around the nation are taking and why they are choosing to go that way. This is some results from the National Association of Realtors 2022 Home Buyers and Sellers Generational Trends Report based on nationwide survey of primary resident purchases from July 2021 to June 2022.
#1 Reason for buying a home for home buyers 57 years old and older: To be close to family and friends and health care facilities.
#1 Reason for buying a home for home buyers 56 years old and younger: To own a home of their own and not have to pay rent to someone else.
Eighty-five percent of homes purchased were existing home. Fifteen percent of homes purchased were new construction.
Reasons to buy newly constructed homes:
Thirty-six percent bought new homes to avoid repairs and renovation
Thirty-five percent wanted to design their own home
Twenty-three percent bought a new home in a community with shared amenities
Eighteen percent bought a newly constructed house because of lack of inventory.
Reasons to buy an existing home:
Thirty-eight percent said they got an overall better value
Thirty-five percent said they got a better price
Twenty-four percent said they wanted the charm and character of an existing home
How people found the home they want to buy:
Fifty-one percent found the house they wanted online
Twenty-eight percent found the house they wanted by contact with a realtor
Here is a story of some former mortgage clients of mine that give us a good example of the older generation making moves and moving barriers to be close to their friends and family and support.
Carter and Claire Caldwell story– Bounding over Barriers To Be With The Grandbabies
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What about making your home pay YOU back? Have you considered a reverse mortgage if you are over 62 years old?
Here is a brilliant idea from one of my past “rock star” mortgage clients. Carter and Claire Caldwell were both over 62 years old. They loved their home next to the lake and their longstanding neighbors and friends. But, the Caldwell’s yearned to spend time playing with their toddler grandchildren who lived several hundred miles away. These grandparents were motivated to financially mastermind a way to get a second home near their grandkids. Want to know their brilliant idea????
Since the Caldwell’s were over 62 years old and they had paid off their mortgage early, they applied and got a Reverse Mortgage. The Reverse Mortgage on their primary residence was now paying them each month, so they had the income to afford to spend a five whole months at a time playing and making memories with the grandkids. If you want to see STUNNINGLY BRILLIANT strategy, observe what happens when grandparents are determined to spring themselves across the miles to hold their grandbabies in their laps.
(Jo) Bobby Jones of Delta Medicare Benefits Group, you see the trends today in the medicare benefits industry. Take a couple of minutes before we go to break to educate us on what we need to consider today when choosing a medicare plan. (Bobby Jones has about 2 minutes or so to start launching into her topics to be continued after break)
You’re on Real Estate Mortgage Shoppe. I’m your host, Jo Garner, Mortgage Loan Officer. 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. Connect with me at JoGarner.com. When we come back you will be hearing more from Bobby Jones of Delta Medicare Benefits Group. Leah Anne Morse of All Things New will be joining us with a tip for organizing your move or your down sizing project. See you back in just a moment.
2nd segment is after 9:15 break from about 9:18Am to 9:30 AM break
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 , _Leah Anne Morse of All Things New. Leah Anne you help your clients organize to move and make it a positive experience. You have plenty of happy testimonies from people you have organized and helped down size, up size make other transitions in life. You genuinely care about your clients and you have plenty of positive testimonies to prove it. Leah Anne Morse what is our Talk Shoppe Business Tip for Real Estate Professionals today?
TALK SHOPPE BUSINESS TIP TO REAL ESTATE PROS BY LEAH ANNE MORSE OF ALL THINGS NEW
Today’s Tip: If you know you are going to move soon, go ahead and throw away, give away or sell the items you know you won’t be taking with you. Set a goal over a period of time to go through every closet, every drawer and every room to eliminate these items. You will thank yourself when you are ready to move that you did not have to pack all of those items and unpack them.
TOPICS COVERED BY BOBBY JONES, DELTA MEDICARE BENEFITS GROUP
BOBBY HAS ABOUT 8 MINUTES DURING THIS SEGMENT TO COVER HIS TOPICS
At Delta Benefits Group, we educate people new to Medicare, ensuring a smooth enrollment into the Medicare system; we shop and compare policies from multiple companies to find the highest quality and most affordable supplement on the market; and we remain an active partner with all our clients, continually reviewing plans and options each year.
Our company specializes in researching and comparing Medicare plans to ensure our clients have options tailored to their individual needs and unique circumstances.
Our team contracts with all of the top Medicare supplement carriers in the nation. This allows us the freedom to work strictly for our clients, rather than a specific carrier, offering our clients access to the best options the market has to offer.
As experts in the arena of Medicare, we are often asked to lead seminars and provide advice through television and radio forums. We are always excited to educate, inform, and clear up misconceptions regarding enrollment and supplement plans. Our number one goal is a satisfied clientele, where each customer receives the highest level of benefits at the lowest possible price.
Topics:
Medicare Annual Enrollment Period
when does it start
how long does it last
what happens during this period
What is the difference between Original Medicare and Medicare Advantage
What services do you provide at Delta Benefits Group
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3rd segment following 9:30 break about 9:35 am to 9:45 am
TOPICS COVERED BY JO GARNER, LICENSED MORTGAGE LOAN ORIGINATOR
More Real Estate and Financing Generational Trends 2022
Younger people tend to move closer to jobs and older people tend to be moving closer to family and friends and health care facilities. Kitty did both.
KITTY KELLERMAN- NOT TO BE DAUNTED OR DISSUADED, AGAINST ALL ODDS
(Jo) Anything is possible when you set your head and your heart to accomplish something you want to do. During this Coronavirus shut down period, I had the privilege of being on Kitty Kellerman’s homebuying journey. Against all odds and everyone’s advice Kitty decided she wanted to live closer to some very close friends and family and she set out to move here. But challenges she faced was that she lived 4 or 5 states away with travel restrictions and safer-at-home measures being enforced. It seemed like an obstacle course Kitty would never conquer. But Kitty was determined.
I got a call from her friend, a former mortgage customer of mine. She said Kit was one of the most caring and positive women she had ever met. Her concern was that something was going to get snagged with all of the moving parts to Kitty’s transactions—buying a home here and selling a home 5 states away geographically and then getting everything moved.
Kitty said, “It’s now or never, Jo. With this job opportunity this just came up—it’s a chance that may never happen again. If I don’t take this chance now, I feel like the regret will nag at me for years to come.”
Kitty’s friend was right. To know Kitty was to love Kitty. She always believed the best in people and it seemed to me like people stretched to be the best professionals that Kitty believed them to be. There were plenty of us on her team—the realtor selling her current home so geographically far away, the realtor helping her with the purchase of her new home here, our mortgage team, the attorneys at the title closing offices, the movers and more.
Kitty did run an obstacle course, trying to track down needed paperwork, negotiate repairs to be done on one of the houses, get furniture moved when the place where she had been living set up travel restrictions and tight rules even on essential businesses. Never once did Kitty lose her bright and sunny outlook. As much as I wanted to meet this delightful lady in person, the entire mortgage transaction was completed electronically. Buyers like Kitty in the fall of 2022 are finding it much easier to get their home purchase offer accepted. Sellers are agreeing to pay for some repairs and some closing costs for the buyer more now than we have seen in a couple of years. I am celebrating with Kitty.
What do YOU want to accomplish with you mortgage? Make your plan. Work your plan. If the deal works for you today, Let’s DO IT TODAY. Connect with me at www.JoGarner.com or call me at (901) 482-0354.
IF AT FIRST YOU DON’T SUCCEED, TRY, TRY AGAIN AND DON’T GIVE UP- PAYNA PAULSON
Payna Paulson left a message on my voice mail. “Look, I need to talk to you. I want to buy a house and my realtor told me you could help me get a loan.” She left her number and hurriedly hung up. After calling Payna multiple times, she finally called me back after about three days. “Look, I REALLY want to buy a house. I work two jobs and have kids at home so I don’t have a lot of time, but I need to get out of this apartment and own my own place.”
Payna’s relatives helped her take care of her small children while Payna worked, but Payna wanted to more for her children. She wanted them to live in a house they owned. They could design the house like they wanted. She could put a swing set out back and a little playhouse so they could play outside. Payna was watching the values on her friends and family’s houses going up. The apartment was building any wealth for her and the landlord was going up on the rent every year.
Payna did not have time to look at a lot of houses. By the time she could get off work and get with her realtor to make an offer, the house was sold to someone else –sometimes within a day or so of being listed. Payna tried multiple times to buy a house over the course of a year and a half. If she got her offer accepted the inspection came back with serious repairs needed that she could not afford. One time she offered way over the asking price to get a house and still did not get it. So many disappointments, so much time spent spinning her wheels. But Payna never lost her passion for achieving home ownership for herself and for her kids.
Suddenly the mortgage rates started going up. More houses were available for sale. The payments would be higher because the price on the home was higher and so were the mortgage rates, but Payna’s income had gone up too at work. At last, she found a house so much better than any she had seen before. Was it false hope to think she could really own this house? She made the offer and the seller accepted.
“Not over the finish line yet,” she said sighing on the phone. “ There’s still the home inspection.” Just as she thought, the inspection came back showing that the roof needed major repairs. The realtor talked with the sellers and, to Payna’s utter amazement, the sellers agreed to pay to fix the roof. Payna was ecstatic! “This never happens! I can’t believe the sellers are doing this for me,” she said excitedly. We fully celebrated Payna Paulson and her new home at the closing table.
Sitting at the mortgage desk, I was seeing more and more instances when buyers were finding a better choice of homes that met their needs AND the sellers were paying some of the buyer’s closing costs and repairs. It seemed like years since I had seen this happier buyer scenario. For home buyers call me worrying because mortgage rates are higher than they were a year or two ago, I say to them, “Marry the house. Date the Rate.” When and if mortgage rates come back down in the future, we can look at refinancing to the lower rate. Other options that are popular is the 2-1 Buydown. This is when the builder or seller of the property is willing to pay the difference at closing for the buyer on the Principle and interest at 2 interest rate points below the locked rate for the first year and the difference between a mortgage rate one point below the base rate the second year. These borrowers are hoping to enjoy a much lower payment the first year by paying effectively 2 points below the base rate locked on this loan and paying 1 point below the base rate the 2nd year. Their hope that is in two years they can hopefully refinance if mortgage rates ease down enough.
If you can own your home with a fixed rate mortgage, you can avoid the landlord where you rented constantly knocking on your door raising your rent. You can take steps to build wealth owning real estate for yourself and those you love.
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Research notes from National Association of Realtors 2022 survey 2022-home-buyers-and-sellers-generational-trends-03-23-2022.pdf (nar.realtor)
4th segment following 9:45 am break about 9:48 to 9:56 am
REAL ESTATE TIP OF THE WEEK ( Bobby Jones shares a tip: Even if you have been happy with your medicare plan, take the time to check out your options during open enrollment. Check to make sure your preferred doctors and prescriptions are still covered on your current medicare plan. Bobby can talk with you or visit with you at his office in Memphis, TN to make sure the plan you have is the one that will work best for you.
Jo Garner When buying a home in a rising interest rate market, think in terms of marrying someone or dating someone. Marry the house and date the interest rate. If mortgage rates go down one day in the future, you can also look at refinancing. In the meantime, if real estate continues to move up on value which it has over time, you will be building wealth for yourself and those you love.
ANNOUNCEMENTS:
Talk Shoppe offers free networking & education to anyone interested in real estate or in business or in health and wellness. Talk Shoppe meets every Wednesday 9A-10A CT at Concorde Career College 5100 Poplar Ave 1st floor Memphis, TN (Clark Tower). You can also join the even on zoom. Go to www.TalkShoppe.com and click the Events tab for the link to get into the event online. This Wednesday October 5th 2022 9A CT “Save on Utility Costs-How to Use Solar Power” by Robert Lofton of The Lofton Agency.
Thank you to these sponsors who make Talk Shoppe’s free networking and education free to our community.
Thank you to Kelly Inman of Next Day Access. Kelly and her team can help your handicapped or aging loved one get safe access inside and outside their home using wheel chair ramps, stair lifts and grab bars and more. To modify the home to make it safe and more accessible to your loved one, call Kelly Inman at 901 258-2626
Thank you to Mary Lou Nowak, owner of Mid-South Home Helpers for sponsorship to bring support to our local businesses through Talk Shoppe. Mary Lou knows what to do when it comes to non-medical assistance, running errands and more to help your aging loved one get to live safely and happily in their own home Call Mary Lou at 901 414-9696
Thank you real estate attorneys Rob Draughon and Shelley Rothman of Griffin Clift Everton and Maschmeyer for sponsoring this episode of Real Estate Mortgage Shoppe. For your real estate home purchase or refinance, call Rob Draughon and Shelley Rothman to close your transaction at 901 752-1133
Let’s keep those who were affected by Hurricane Ian in our thoughts and prayers.
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.
LEGAL STUFF: 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 AND NOT AN OFFER TO LEND.. ALL EXAMPLES GIVEN FOR ILLUSTRATION PURPOSES ON REAL ESTATE MORTGAGE SHOPPE AND 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.
QUOTE CORNER: “The great advantage of living in a large family is that early lesson of life’s essential unfairness.” Nancy Mitford
“You call it chaos. We call it family.” Etsy.com
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REJOINDERS:
Pat Goldstein, Realtor with Crye-Leike Realtors in West TN and North Mississippi. 901 606-2000
Troy and Lynn McDonald, Erin McDonald Insurance Agency home and auto, life and umbrella renters insurance 901 849-7101
Mark McLaurine, Refrigeration Unlimited myhvacman@gmail.com 901 216-7782
Transitional Music: “Home” by Daugherty; “Home is Where the Heart Is” by The Temptations; “Thank God for Small Towns” Carrie Underwood; “Taking Care of Business” by Bachman Turner Overdrive for the Talk Shoppe Business Tip for Real Estate Pros
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.
Now on Amazon and Barnes and Noble
ABOUT LEAH ANNE MORSE OF ALL THINGS NEW
All Things New can help create a desirable space which fits your lifestyle and activities, one that generates a productive feel and flow. Whether you are downsizing, helping with aging parents or just needing a fresh, new organized space, let the professionals at All Things New lift that burden from you.
ABOUT BOBBY JONES, DELTA MEDICARE BENEFITS GROUP
Bobby Jones
Delta Medicare Benefits Group
901-460-7220 direct
At Delta Benefits Group, we educate people new to Medicare, ensuring a smooth enrollment into the Medicare system; we shop and compare policies from multiple companies to find the highest quality and most affordable supplement on the market; and we remain an active partner with all our clients, continually reviewing plans and options each year.
Our company specializes in researching and comparing Medicare plans to ensure our clients have options tailored to their individual needs and unique circumstances.
Our team contracts with all of the top Medicare supplement carriers in the nation. This allows us the freedom to work strictly for our clients, rather than a specific carrier, offering our clients access to the best options the market has to offer.
As experts in the arena of Medicare, we are often asked to lead seminars and provide advice through television and radio forums. We are always excited to educate, inform, and clear up misconceptions regarding enrollment and supplement plans. Our number one goal is a satisfied clientele, where each customer receives the highest level of benefits at the lowest possible price.
Bobby Jones is a lifelong Memphian . He graduated from the University of Tennessee in Knoxville in 1986 with a degree in Finance and Insurance. In 2010 he founded Delta Benefits Group and in 2016 Delta decided to shift the focus of their practice 100% to Medicare.
ABOUT JO GARNER-MORTGAGE LOAN OFFICER:
WHAT DO YOU WANT TO ACCOMPLISH WITH YOUR MORTGAGE?
www.JoGarner.com (901) 482 0354 jo@jogarner.com 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 https://online.cardinalfinancial.com/#/p/apply/jogarner
www.cardinalfinancial.org for licensing info www.nmlsconsumeraccess.org/EntityDetails.aspx/company/66247 “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. 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 and Noble “Choosing the Best Mortgage-The Quickest Way to the Life You Want”