MEMPHIS HISTORY, REAL ESTATE & FINANCING
HIGHLIGHTS FROM OUR PODCAST :
MARKET NEWS
LOOK BACK MEMPHIS TRIVIA CONTEST
QUESTIONS ANSWERED BY TOM KING: (We bring out the Magic Binoculars)
1. Memphis has a great future with our artesian well water, railway, riverway and
runways and our huge medical resources and now more opportunities for
tourism.
2. Tells story of guy who homesteaded Mud Island and how he prevented his land
from just being taken away from him.
3. Tom’s jumps from different buildings and bridges in Memphis and landed a
plane on the runway on the old runway on the island
(“Both Tom and Jimmy (old friends from boyhood) were like a jukebox with too
much money in it—rolling off one old story after another.”—Jo Garner )
______________________________________________________________________
QUESTIONS ANSWERED BY JIMMY OGLE:
1. Stories about Memphis, Boss Crump, Mayor Dick Hackett’s vision for Harbor
Town and the “bridge to nowhere.”
2. Future of the Chisca Hotel, Tennessee Brewery, Sears Crosstown, Nineteenth
Century Club
3. 1892 the first person who jumped off the Memphis bridge in a ceremonial jump
4. More people lived in jail in downtown than in the downtown area at one point
201 Poplar was built. Now you can’t keep enough residential property to keep up
with the number of people moving into downtown.
5. Story of “Machine Gun Kelly” and the radio caller’s father who was mistaken
for “Machine Gun Kelly”–
QUESTIONS ANSWERED BY JO GARNER:
1. Who are some of the people from the real estate and lending industry who
have learned from history?
REAL ESTATE TIP OF THE WEEK
ANNOUNCEMENTS
Good morning, Memphis! Good morning across the country on iHeart Radio and BOCI Radio.
You’re on the Real Estate Mortgage Shoppe program. I’m your host, Jo Garner, Mortgage
Officer with Evolve Bank and Trust. Today we’re talking about “Lessons Learned From The
Past—Memphis History, Real Estate & Financing.” What have YOU learned from history about
your real estate or finances? Call us and let us know some things you’ve learned from the past
that have helped you avoid problems related to a real estate property or with your finances.
Who knows, what YOU share may help someone else. Also in the studio we have Tom King,
appraiser with Bill King and Company. Tom’s been busy doing appraisals . <Tom introduces
himself and talks about what he does as an appraiser.>
(Jo) We have a very special guest around the table with us today—notable Memphis historian,
Jimmy Ogle, who works for the Riverfront Development Corporation & is
chairman of the Shelby County Historical Society, but is best known today
for his free historic walking tours in downtown Memphis. Jimmy, you’re known as
the Voice of Memphis History, there are NUMEROUS articles in the Commercial Appeal, Best
of Times, the Memphis Daily News, and so many more. The Des Moines Iowa Register says
about him that, “Rest assured that Ogle will run out of breath long before he
runs out of facts about Memphis. And he rarely runs out of breath.” Glad to
have you on the Real Estate Mortgage Shoppe program. Tell our audience a
little bit about yourself and what you do. <Jimmy Ogle introduces
himself and talks about what he does and about the free historic
Memphis walking tours>
(Jo) The mortgage market is starting to read like a history book again. When the Jobs Report
came out a week ago, rates started jumping higher. During this past week the price on rates,
like they’ve doing for months, gradually slipped down again so that we are about where we
were last Thursday. Up and down like the crest and trough of a river wave. Yesterday closed
with the 30 year conventional rate around 3.875%, the FHA and VA rates in the upper 3’s, the
conventional 15 year rates between 3 and 3.5%. Evolve Bank as of right now still has the Jumbo
5-1 at 3.99%. Rates vary according to a lot of different factors so your rate could be lower or
higher than stated here. Stay tuned though, next week the Federal Open Market Committee
meets and their decisions could have a HUGE impact on which the mortgage rates swing.
<Tom makes short comments here>
(Jo) What have we learned from recent history during the real estate crash of 2008? Here’s a
big lesson—and I hope we don’t forget it—make sure your house note is low enough to fit your
budget AND give you some discretionary income for emergencies or an occasional vacation.
Sometimes, if a borrower has good credit and a lot of money in the bank, the computerized
underwriting software will pre-approve someone at over a 50% debt-to-income ratio. The
debt-to-income ratio includes the proposed house payment including the property taxes and
insurance along with the minimum required payment for credit cards, car loans, student loans,
and personal loans. It would certainly be more comfortable to have a debt ratio 41% or under
rather than 50% or over. And a house payment under 28% of your gross income. Emergency
funds are important too—especially if you are buying a house. Don’t spend every dollar on the
house—keep a little back in case of a rainy day.
A few years ago I served on the Finance Committee at our church, specifically helping
individuals and families get back in control of their finances. My motto was a verse out of the
Bible that says, “ That they may know the truth and the truth make them free.” Umm…how do
you get to the Truth about how much you really spend? How much to you really bring home
from your paycheck? The people and families that were working on their finances would bring
in the bank statements or printouts to show each check they wrote and they brought in their
credit card statements with the detail listed on what they bought and how much they paid. If
you really look at your statements and credit card statements for the last 12 months, you will
see where you’re spending your money—even down to the once-a-year car tags. Then and
only then were we in a position to create a budget. Let’s talk about what’s comfortable for you.
Just call us at (901) 535-WREC (901) 535 8185 or call me directly at (901) 482-0354 or catch us
on the blog www.JoGarner.com
<Tom >
(Jo) We’re talking about lots of good stuff today –and some fun stuff too. There are a lot of
great opportunities for people to take advantage of the Perfect Storm going on right now with
the artificially low mortgage rates, good prices on houses, a reduction in some monthly costs
from FHA. Refinances are still hot—with some of our special programs allowing borrowers to
refinance without an appraisal value, lowering payments, shortening the term on mortgages
and even pulling cash out to get rid of high interest rate debt or variable rate debt. MAKE A
PLAN, WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, DO IT TODAY.
Tom King and Jimmy Ogle, what are some lessons we’ve learned from Memphis history tied to
our local real estate? < Jimmy launches the topic>
2nd segment after 9:15 break—It’s time for the Look Back Memphis Trivia Contest.
The Look Back Memphis Trivia Contest is brought to you by Memphis notable
historian, Jimmy Ogle www.jimmyogle.com,. Jimmy Ogle offers free historic
walking tours in downtown Memphis. To get his spring and fall schedule, go to
www.jimmyogle.com. Our Look Back Memphis Trivia contest is sponsored by
Lawhon Landscape. John and Jennifer Lawhon want you to know that this time
of year is a great time to plant trees. They also have a hydraulic Root Feeding
System for Shrubs and Trees. Give them a call at 901 754 7474. Lawhon
Landscape is giving away a $25 gift card to the first person with the correct trivia
answer. If you know the answer, call us at 901 535 WREC 901 535-9732. Today,
we have THE ONE AND ONLY JIMMY OGLE in the studio with us. Jimmy, what’s
our trivia contest question? <Jimmy Ogle presents the Trivia Contest>
QUESTIONS ANSWERED BY TOM KING: (We bring out the Magic Binoculars)
1. Memphis has a great future with our artesian well water, railway, riverway and
runways and our huge medical resources and now more opportunities for
tourism.
2. Tells story of guy who homesteaded Mud Island and how he prevented his land
from just being taken away from him.
3. Tom’s jumps from different buildings and bridges in Memphis and landed a
plane on the runway on the old runway on the island
(“Both Tom and Jimmy (old friends from boyhood) were like a jukebox with too
much money in it—rolling off one old story after another.”—Jo Garner )
______________________________________________________________________
QUESTIONS ANSWERED BY JIMMY OGLE:
1. Stories about Memphis, Boss Crump, Mayor Dick Hackett’s vision for Harbor
Town and the “bridge to nowhere.”
2. Future of the Chisca Hotel, Tennessee Brewery, Sears Crosstown, Nineteenth
Century Club
3. 1892 the first person who jumped off the Memphis bridge in a ceremonial jump
4. More people lived in jail in downtown than in the downtown area at one point
201 Poplar was built. Now you can’t keep enough residential property to keep up
with the number of people moving into downtown.
5. Story of “Machine Gun Kelly” and the radio caller’s father who was mistaken
for “Machine Gun Kelly”–
QUESTIONS ANSWERED BY JO GARNER:
2. Who are some of the people from the real estate and lending industry who
have learned from history?
A. The survey Talk Shoppe did in 2008 during the real estate crash, also
B. People who owned real estate with a positive cash flow. Here’s how to do it
C. People who are renting may be missing a great opportunity to be building
known as the Great Recession. (be versatile know other facets of the real
estate industry like property management for others and owning rental
property for yourself for the rental income)
today-
equity in something for themselves. In many parts of the city your mortgage
payment owning a house can be as much as a third less than the amount of
rent you would pay for the same house. Down payment assistance is
available in many cases—because remember you want to keep money saved
in case of a rainy day. If you want to start buying real estate rental homes to
build up your retirement portfolio, I would love to help you MAKE A PLAN,
WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, DO IT
TODAY. On the air right now 901 535 WREC 901 535 9732 or call me
directly at 901 482-0354 or connect with me on the blog www.JoGarner.com
____________________________________________________________________________
4th segment REAL ESTATE TIP OF THE WEEK: (Tom or Jimmy or Jo can
offer a practical real estate tip that is time-saving or money saving)
Jo’s announcements:
Talk Shoppe offers free education and networking to anyone interested in real estate or
business. This Wednesday March 18th 9A-10A Memphis Angie Bramlitt of Memphis
Consumer Credit Agency will be discussing “Understanding Your Credit and Your Credit
Scores” at University of Phoenix 65 Germantown Court 1st floor Cordova, TN 38018. For
more information about Talk Shoppe, go to www.TalkShoppe.com
To hear today’s podcast of the Real Estate Mortgage Shoppe and others, go
to www.JoGarner.com
Famous quotes: Those who do not remember the past are condemned to repeat it.George Santayana
History will be kind to me for I intend to write it. Winston Churchill
Who does not know that the first law of historical writing is the truth’. – Cicero
If you want to understand today, you have to search yesterday. ~Pearl Buck
“Adventure will take you anywhere, but romance will keep you there.” Jo Garner
“Make A Plan, Work Your Plan. If the deal works for you today, do it today.” Jo Garner
____________________________________________________________________________________________
Transitional Music: “Walking In Memphis” Marc Cohn; “That’s How I Got To Memphis” Bobby Bare;
“Memphis Beat” Jerry Lee Lewis; “Memphis” by Johnny Rivers
ABOUT JIMMY OGLE:
Jimmy Ogle is featured in several publications, such as the Commercial
Appeal, Memphis Daily News, Best of Times, Des Moines Iowa Register where
With the American Queen Riverboat on the Mississippi River
behind him Memphis historian Jimmy Ogle shows off an ear of corn he picked at the Field of
Dreams site in Dyersville, Iowa. Ogle later had actor James Earle Jones who appeared
in the movie Field of Dreams autograph for him. Ogle has been to the Field of Dreams site in
Dyersville four times. The Des Moines Iowa Register says of Ogle, “Rest assured that Ogle
will run out of breath long before he runs out of facts about Memphis. And he rarely runs
out of breath.
Education:
Graduated with B.S. in Education from University of Memphis, 1980
Graduated Memphis University School, 1970
Employment History:
Public Records Commission, County of Shelby, Chairman, 2014-present
West Tennessee Historical Society, Vice President Shelby County, 2014 – present
Shelby County Courthouse Restoration Committee, Member, 2014-present
Community Engagement Management, Riverfront Development Corporation, 2011-
Tournament Services Coordinator, FedEx St. Jude Classic, 2010-2012
Program Specialist, Memphis Convention & Visitors Bureau, 2009-2010
General Manager, Beale Street Landing, 2013-present
2013
Vice President, Ericson Group Inc, 2003-2009
Director, Memphis Rock ‘n’ Soul Museum, 2000-2003
Vice President of Operations, Performa Entertainment (Beale Street) 1998-2000
Special Events Supervisor, Memphis Recreation Department, 1979-1983
General Manager, Memphis Queen Line, 1993-1998
General Manager, Schorr Management Company, 1987-1989
General Manager, Mud Island, 1985-1987 and 1989-1993
Deputy Director, Memphis Park Commission, 1984-1985
Administrative Manager, Memphis Park Commission, 1983-1984
Church Recreation Specialist, First Baptist, 1973-1979
Community Organizations:
Shelby County Task Force for Mississippi River Corridor, Member
West Tennessee Historical Society, Board Member
Citizens To Preserve Overton Park, Board Member
Cotton Museum at the Memphis Cotton Exchange
Save Libertyland/Remember Libertyland, President
Memphis Zoological Society
Memphis Heritage
Park Friends, Inc
Shelby County Historical Commission, Member & Chairman (2011-2013)
Davies Manor Association, Board Member & President, 2013-2014
Delta Everything Southern Conference, Planning Committee Member, 2012
Mississippi River Corridor Tennessee, Board Member, 2011-2013
Scoreboard Operator, University of Memphis Men’s Basketball
Instructor, Meeman Center For Lifelong Learning, Rhodes College
Scoreboard Graphic Artist, American Junior Golf Association
Tour Guide, Center City Commission, Downtown Walking Tours
Actor, Elmwood Cemetery Costume Twilight Tour
Step-On Guide, Memphis Convention & Visitors Bureau
Interests (“Hobby Jobs”):
Stat Crew, University of Memphis Football
Member, Citizens To Preserve Overton Park
New York Times Crossword Society Member
Group Lecturer
ABOUT TOM KING:
Tom is a well- respected and sought after appraiser in Memphis, Tennessee. He is a
second generation appraiser with 40 years 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 with the county and state boards of equalization and in valuations
of property for tax appeal purposes. (901) 487-6989
ABOUT JO GARNER:
www.JoGarner.com (901) 482 0354 jo@192.232.195.219 @jogarner
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 was also the editor of Power Shoppe, a
free weekly e-zine designed for real estate professionals and others indirectly connected to the
real estate industry and currently publishes on her blog www.JoGarner.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.